Q3

In Q3, the cryptocurrency market saw some challenges, with an 8.6% decrease in total market capitalization. However, institutional adoption continued to grow.

Activity on Layer 1 blockchains decreased, but Ethereum Layer 2s saw more activity thanks to the launch of Base. DeFi saw a 13.1% decrease in Total Value Locked (TVL) to $38.5 billion due to lower yields, a cautious market, and falling Ethereum prices.

NFT sales had their worst quarter in three years at $299 million, mainly because of lower collection prices and Ethereum's price drop.

In the gaming sector, BNB Chain, Ethereum, and Polygon dominated with 66% of the market share in terms of the number of games.