CoinGecko released a report on the state of the cryptocurrency market for the third quarter of 2019

CoinGecko, a provider of price, volume, network and fundamental data, has presented a 56-pagemarket report for the 3rd quarter of 2019. Below are the main changes for the analyzed period.

Crypto Market

During the third quarter, the market situationwas relatively stable. Thus, BTC traded above $10,000 for most of the analyzed period. Only at the end of September, the cost of the first cryptocurrency dropped sharply to $8,500. At the same time, altcoins also had a hard time; the cost of some coins saw a two-fold drop. One of them – Litecoin, which fell 54%, according to CoinGecko.

On the positive side – growth of Bitcoin dominance and hashrate to new highs. Thus, the BTC dominance index jumped to 70%, and the hashrate to 100 quintillion.

Derivatives market

The authors of the study added information “for dummies” to the report. The main purpose of the management – help users understand the concept of the derivatives market and its components.

Thus, during the third quarter the marketderivatives showed a steady growth of +300%. The number of derivatives tracked by CoinGecko has tripled to include 17 crypto exchanges.

DeFi industry

DeFi Industry (Decentralized Finance)continues to expand. Among the most popular destinations – lending, derivatives, decentralized exchanges (DEX) and payment services. At the same time, more than 70% of the total value of the ecosystem is allocated to lending.

We note that the Nasdaq stock exchange has added a new Defix cryptocurrency index to track projects that provide DeFi.

It can be concluded that the development of cryptocurrencies is notstands still and shows good results. The development of the futures and DeFi market suggests that the community is ready for further adoption of crypto products.