Cryptocurrency data aggregator CoinGecko has released its Q3 2021 report which shows significant gains across several market segments for cryptocurrency.
After the market crash in May, the third quarter of the cryptocurrency’s decline began, and at the end of July, the market capitalization fell to less than $1.2 trillion, less than half of the steady $2.5 trillion rise recorded two months ago. Just.
However, the market capitalization recovered in the third quarter and rose to $2.3 trillion in early September.
In the third quarter, bitcoin (BTC), “coins” and non-perishable tokens (NFT) dominated the cryptocurrency market, according to a report by CoinGecko.
Bitcoin posted a gain of 25% between the second and third quarters and continued to rise, reaching $60,000 for the first time in five months.
Network fragmentation also rose in the third quarter, reflecting an improvement after massive attacks from China forced miners to travel abroad.
In-game icons such as Axie Infinity (AXS), Illuvium (ILV) and Gala (GALA), as well as the NFT overall site, also posted big wins in the third quarter.
In particular, AXS collected nearly 1,000% of quarterly results, and results in 2021 were 13,700%.
In terms of NFT trading volume, OpenSea continues to dominate the market segment. In fact, according to a report by CoinGecko, OpenSea and Rarible recorded a total trading volume in the third quarter of about $6.8 billion.
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This significant market gain was the result of a storm of regulatory requirements related to cryptocurrencies. It appears that US policy makers have lobbied for stricter regulations in market sectors such as stack coins.
Despite the strong growth recorded in the third quarter, the recovery in the cryptocurrency market is still far from the level of activity seen before the May crash.
For example, CoinGecko reported that spot trading between large central and decentralized exchanges fell more than 42% in the third quarter.