Q3 2023 has ended. Let’s review the crypto market🪙
🔸 $BTC decreased by 14% ($25k), and $ETH by 19% ($1,530) during the quarter.
🔸Total market cap of altcoins decreased by 1% to $237.7 billion.
🔸Total market cap of DeFi tokens increased by 7% in the third quarter to $41.75 billion.
🔸Total market cap of all crypto fell by around 11% to $1.021 trillion.
🔸The Federal Funds rate rose 25bps, while the S&P 500 fell 4.2%.
🔸USDT supply continues to grow: $42.8 billion in Tron and $39 billion in Ethereum, which is the strongest indicator of USDT among other stables.
🔸The August 16-17, 2023 crash resulted in nearly $1 billion. in crypto liquidations, surpassing even the FTX crash last November in terms of dollar value of liquidations in 24 hours.
🔸Capital raising slowed in Q3 with total capital raised down 55% quarter-on-quarter.
📉To sum it up, Q3 of 2023 was not very good. In terms of the macro statistics, the crypto market is still going down. However, we can still go up in November (Echo Bubble), but the situation with the future Bull Run is still extremely uncertain!
