【Latest news on the crypto market: 2024 Q3 report is out! 📊】

Hey, blockchain enthusiasts! According to BlockBeats, Coingecko has just released the crypto industry report for the third quarter of 2024, which brings a lot of interesting data and insights. Let's take a look!

**Total market value fell slightly**

Although the total market value of cryptocurrencies remained at $2.33 trillion in the third quarter, it fell by 1% overall. It reached a high of $2.61 trillion on July 22, but fell sharply on August 6 due to the weak global economy. The average trading volume was $88 billion, down 3.6% from the second quarter.

**Bitcoin market share increased**

Bitcoin's market share rose to 53.6% in the third quarter, up 2.7% month-on-month. However, Ethereum's market share fell by 3.6% to 13.4% at the end of the third quarter. It seems that Bitcoin's position in the market remains solid, while Ethereum faces some challenges.

**Gold Outperforms Bitcoin**

Interestingly, gold outperformed Bitcoin in Q3, with a 13.8% price increase. The yen also rose 12.0% after the Bank of Japan announced a rate hike and the Federal Reserve cut rates. This shows that traditional assets are still attractive in some situations.

**Prediction Market Volume Surges**

Led by Polymarket, prediction market volume grew a staggering 565% in Q3. The top three prediction markets saw a volume increase of $3.1 billion, up from $466.3 million in Q2. Polymarket accounted for 99% of the market share in September, with a 713.2% and 845.5% increase in volume and number of transactions, respectively. This shows that prediction markets are rapidly gaining ground.

**Ethereum L2 Transaction Volume Growth**

Led by Base, Ethereum L2 transaction volume grew 17.2% in Q3. The top 10 Ethereum L2s saw nearly 10 million daily transactions in September. Base is the most active L2, accounting for 42.5% of all transactions in Q3.

**CEX spot trading volume declines**

CEX spot trading volume fell to $3.05 trillion in the third quarter, down 14.8% from the previous quarter. Although Binance remains the largest CEX, its market share fell below 40% for the first time since January 2022 and is currently 38%. Crypto.com became the second largest spot CEX in the third quarter, while it was only ninth in the second quarter.

**DEX trading faces competition**

DEX transactions dominated by Ethereum showed a downward trend in the third quarter, with cumulative transaction volume falling 19.6% month-on-month to $130.5 billion. However, Solana and Base's DEX transaction volume continued to grow, with market shares of 22% and 13%, respectively. It seems that Ethereum is also facing considerable competitive pressure in the DEX field.

**Summary**

In general, the crypto market in the third quarter was full of volatility and changes. Bitcoin remained strong, but Ethereum and other platforms were also struggling to catch up. The rise of prediction markets and L2 solutions showed new growth points, while traditional assets such as gold remained attractive.

What do you think of these data and trends? Welcome to share your views and insights in the comment section! Let's explore this vibrant market together!