BingX sponsors CoinGecko Q3 2024 report: Bitcoin's dominant position rises, Gold and predicted
BingX sponsors the release of CoinGecko's Q3 2024 crypto industry report, adhering to the platform's commitment to promoting transparency, empowering users, and enhancing community understanding of the Web3 industry. As a leading global cryptocurrency exchange, BingX always puts users at the center and provides innovative trading solutions.
BingX spokesperson Vivien Lin said:
BingX's sponsorship of CoinGecko's quarterly report once again demonstrates our commitment to promoting transparency and education in the cryptocurrency industry. By supporting this report, we ensure that users have access to independent and reliable data to help them make informed trading decisions. In this industry, trust and information are the key to success, and we are proud to provide these resources to the global crypto community.
CoinGecko's Q3 2024 crypto industry report provides an in-depth analysis of the overall landscape of the crypto market. The overall market value of the cryptocurrency market decreased by 1.0%, reaching $2.33 trillion at the end of this quarter. Bitcoin dominates, accounting for 53.6% of the total market value. However, the main asset class outperformed Bitcoin, with Gold increasing by 13.8%. The predicted market growth is significant, reaching 565.4%, with Polymarket occupying 99% of the market share. The transaction volume of Ethereum's Layer 2 increased by 17.2%, with Base performing the most prominently. Meanwhile, the quarterly growth rate of spot trading volume on the Central Exchange (CEX) decreased by 14.8% to $3.05 trillion. Although Ethereum remains the main chain for decentralized exchange trading, its market share is rapidly being eroded by Solana and Base.
This report is obtained from thousands of data sources, tracking price fluctuations, trading volume, on chain indicators, and community growth, providing users with a comprehensive perspective on the cryptocurrency market. BingX's commitment to this type of educational work has been continued through this sponsorship, ensuring that traders can navigate the complex environment of the Web3 ecosystem with ease.
The insights presented in this season's report are entirely provided by CoinGecko, ensuring that its analysis is not influenced by external factors. BingX's sponsorship ensures that these important insights reach a wider community, benefiting both novice traders and institutional investors. With the continuous development of the cryptocurrency market, BingX, as a trading platform that focuses on user security, experience, and trust, has always been at the forefront of the industry. Sponsoring CoinGecko's third quarter report is another step taken by BingX to continue providing its community with the necessary tools and information to succeed in a rapidly changing market.
About BingX
BingX was founded in 2018 and is a leading global cryptocurrency exchange, providing diversified products and services such as spot, derivatives, copy trading, and asset management to over 10 million users worldwide, meeting the needs of beginners to professionals at different levels. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to enhance their trading capabilities. In 2024, BingX proudly became the official partner of Chelsea Football Club, marking its first exciting debut in the sports world.
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