The CoinGecko Q3 Crypto Industry Report shows that the overall crypto market has shrunk by 1.0%. Bitcoin has reached a three-year high for market dominance, surpassing 53% of the total crypto market and over 58% as of the report. However, the report also highlights concerns such as the decline in the total market cap for all crypto assets and Bitcoin's underperformance compared to traditional assets like gold and treasury bonds. World government policies, especially in the US, Japan, and China, have had a significant impact on the market. Bitcoin ETFs in the US saw larger net inflows in Q3 compared to Q2, resulting in a 13.2% increase in assets under management. Ethereum lost market share to Bitcoin, but its Layer-2 (L2) transactions increased by 17.2% in the quarter, with nearly half of them coming from Base, a breakout success in the Ethereum L2 space. Ethereum's dominance in decentralized exchange (DEX) trading has decreased, with Solana and Base gaining market share. The report concludes that while Bitcoin and Ethereum have their successes, the broader crypto market is facing challenges and competition.



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