BingX Sponsors CoinGecko's 2024 Q3 Report: Bitcoin Dominance Grows as Gold and Prediction Markets Outperform in a $2.33T Market
VILNIUS, Lithuania, Oct. 22, 2024 /PRNewswire/ -- BingX, a leading global cryptocurrency exchange known for its user-centric platform and innovative trading solutions, proudly announces its sponsorship of CoinGecko's 2024 Q3 Crypto Industry Report. This sponsorship is a continuation of BingX's dedication to fostering transparency, empowering users, and promoting greater understanding within the Web3 industry.
"BingX's sponsorship of CoinGecko's quarter report reflects our commitment to transparency and education within the crypto space," said Vivien Lin, spokesperson at BingX. "By supporting this report, we ensure that users have access to independent, reliable data to make informed trading decisions. Trust and knowledge are fundamental to success in this industry, and we are proud to play a part in delivering these to the global crypto community."
CoinGecko's 2024 Q3 Crypto Industry Report offers a detailed overview of the crypto landscape. The total crypto market cap declined by 1.0%, closing the quarter at $2.33 trillion. Bitcoin's dominance rose to 53.6% of the total market cap. However, major asset classes outperformed Bitcoin, with gold appreciating by 13.8%. Prediction markets saw significant growth, surging 565.4%, with Polymarket holding 99% of the market share. Transactions on Ethereum Layer 2 grew by 17.2%, led by Base. Meanwhile, spot trading volume on centralized exchanges dropped 14.8% quarter-on-quarter, falling to $3.05 trillion. While Ethereum remained the leading chain for DEX trading, it is rapidly losing market share to Solana and Base.
The report's insights are backed by thousands of data points, tracking price movements, trading volumes, on-chain metrics, and community growth, providing users with a holistic view of the crypto landscape. BingX's commitment to such educational efforts continues through this sponsorship, ensuring that traders are well-equipped to navigate the complexities of the Web3 ecosystem.
The insights provided in the Q3 Report are generated solely by CoinGecko, ensuring that the analysis remains free from external influence. BingX's sponsorship ensures that these vital insights are accessible to the broader community, from novice traders to institutional investors. As the cryptocurrency market continues to grow and evolve, BingX remains at the forefront, providing a platform that prioritizes security, user experience, and trust. Sponsoring CoinGecko's Q3 Report is another step in BingX's ongoing effort to provide its community with the tools and information they need to succeed in a rapidly changing market.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://BingX.com/
SOURCE BingX
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