⚜️Seven highlights of the crypto market in the third quarter of 2024:

🌳1. The total market value fell slightly: In the third quarter of 2024, the total market value of the encryption market fell by 1.0% to US$2.33 trillion. The market reached a high of $2.61 trillion on July 22, but then fell back due to global economic weakness and geopolitical influences.

🌳2. Bitcoin’s dominance increased: Bitcoin’s dominance increased to 53.6% in the third quarter, a quarter-on-quarter increase of 2.7%. Although Bitcoin only edged up 0.8%, its stability compared to other mainstream crypto assets helped solidify its market share.

🌳3. Strong performance of major asset classes: Gold rose 13.8% in the third quarter of 2024, becoming the best-performing asset class. The rally reflects safe-haven demand from global economic uncertainty and geopolitical tensions.

🌳4. Explosive growth in the prediction market: The prediction market increased by 565.4% in the third quarter, mainly due to the upcoming presidential election in the United States that promoted related market activities. Polymarket occupies 99% of the market share in the prediction market and its performance is particularly outstanding.

🌳5. Ethereum Layer 2 transaction volume growth: In the third quarter, Ethereum Layer 2 transaction volume increased by 17.2%. Base performed most brilliantly in this field, accounting for 42.5% of all Layer 2 transactions.

🌳6. The trading volume of centralized exchanges declined: The spot trading volume of centralized exchanges fell by 14.8% quarter-on-quarter in the third quarter, with a total volume of US$3.05 trillion. Binance remains the exchange with the largest market share, but other competitors are rising.

🌳7. Ethereum’s dominance in DEX is declining: Although Ethereum is still the main chain for DEX transactions, its market share continues to decline. Solana and Base are rapidly rising and competing for market share.