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The report by Coingecko on the state of the crypto industry in Q3 2024

The report by Coingecko on the state of the crypto industry in Q3 2024
The CoinGecko Q3 2024 report on the crypto sector highlights a slight decrease in the total market capitalization of the crypto market, with a 1% drop from approximately $2.35 trillion to $2.33 trillion. The report attributes this to no significant movements in inflows or outflows during the quarter. While trading volumes also declined by 3.6%, Bitcoin's dominance increased by 2.7% to reach 53.6%, indicating a preference for Bitcoin over altcoins and stablecoins among investors. However, the report suggests a potential recovery in the altcoin market due to Bitcoin's high dominance. The report also focuses on the Ethereum layer-2 landscape, with an increase in on-chain activities and Ethereum establishing itself as the dominant network for trading on decentralized exchanges (DEX).

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