According to CoinGecko's quarterly report, between July and September, the cryptocurrency market capitalization decreased by 10%, but since the beginning of the year, it has grown by 35%.
In addition, the trading volume of NFTs fell by 55.6%, as did overall interest in the segment.
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According to the document, over the last three months, around $119 billion has left the industry. Since the local peak reached last April 17, the total market capitalization of cryptocurrencies has declined by 16.3%.
The company's experts have said the significant drop on August 17 split the "relatively slow third quarter" into two parts. In one day, the price of Bitcoin fell from $28,000 to $25,000 due to "limited liquidity on crypto exchanges." As a result, the total size of the digital asset market declined from $1.2 trillion to $1.1 trillion.
Trading volumes continued to slowly decline afterwards after a sharp drop at the end of March.