BingX Sponsors CoinGecko’s 2024 Q3 Report
At BingX, we’re always looking for ways to deepen our commitment to the crypto community. That’s why I’m thrilled to share that BingX is proudly sponsoring CoinGecko’s 2024 Q3 Crypto Industry Report. This partnership is more than just a sponsorship—it’s a reflection of our dedication to fostering transparency, empowering our users, and promoting a better understanding of the Web3 industry as a whole.
Transparency and education have always been cornerstones of our mission at BingX. We believe that trust and knowledge are fundamental to success in the fast-evolving world of cryptocurrency. By supporting Coingecko’s quarterly report, we are ensuring that every user—whether a seasoned trader or someone just getting started—has access to independent, reliable data to make informed trading decisions.
The 2024 Q3 Crypto Industry Report from CoinGecko provides a detailed snapshot of the current landscape. Among the key insights, the total crypto market cap saw a slight decline of 1.0%, closing the quarter at $2.33 trillion. Bitcoin’s dominance has grown to 53.6%, yet other asset classes, such as gold, have outperformed it—gold appreciated by 13.8% this quarter. Meanwhile, prediction markets experienced a huge boom, growing by an impressive 565.4%, with Polymarket claiming 99% of the market share. Transactions on Ethereum Layer 2 also grew by 17.2%, led by Base, while spot trading volumes on centralized exchanges saw a 14.8% drop, landing at $3.05 trillion. The decentralized exchange (DEX) space saw Ethereum remain in the lead, but challengers like Solana and Base are rapidly closing in.
These findings give us a rich perspective on the crypto market, supported by thousands of data points—tracking everything from price movements and trading volumes to on-chain metrics and community growth. The best part? The insights come solely from CoinGecko, meaning the analysis is free from external influence. BingX is proud to ensure that these valuable insights reach a wide audience, from casual traders to institutional investors alike.
Sponsoring this report is just one of the many ways BingX is helping our community navigate the complex world of Web3. As the crypto space continues to grow and evolve, we’re committed to staying at the forefront—providing a platform that prioritizes security, user experience, and trust. With this report, we’re continuing to give our users the tools and information they need to succeed in this rapidly changing market.
Here’s to more knowledge, transparency, and empowerment as we look ahead to what’s next in crypto!
Will We Close Out The Year With a New ATH?
Traders are awaiting more crypto movement as we are three weeks into “Uptober” and just over three months away from closing out 2024. This Monday, Bitcoin hit $69,000 before dipping to around $65,000 on Wednesday. Bitcoin is hovering in this range, which is up around after the rate cuts. This is positive news, reinforced by the inflow of about $250 million in new capital that entered into US-based Bitcoin ETFs.
Some traders predict that Bitcoin and other crypto assets will continue with positive momentum, hitting new all-time highs before the end of the year. Various factors, including institutional adoption, the latest halving event, regulatory shifts, and broader macroeconomic trends will shape the price of Bitcoin positively in the end of 2024 and where it will head into 2025. However, we also need to acknowledge that there is a bear case. Dividend options are decreasing, miners are becoming reliant on fees, and block rewards are continually reducing, all leading to a struggle that exists with making substantial profits.
Lastly, there is another emerging narrative heading into 2025 that should be watched closely, and that is stablecoins. These aren’t necessarily investments since their price is inherently “stable,” but with their increase in adoption comes a wave of digitally native users worldwide, which could help crypto’s adoption case. Stablecoins are great because they offer the stability of traditional currencies while maintaining the speed and efficiency of blockchain transactions. They also provide a reliable store of value, protecting users from the volatility typically seen in cryptocurrencies. Stablecoins can serve as a more stable exchange or store of funds for those who hedge in a global digital currency.
Article Highlights
It is an honor to be featured on BeInCrypto’s SheVerified section, a profile of distinct female leaders in the Web3 space. In this exclusive interview, I discussed my transition from traditional finance to cryptocurrency, my involvement in BingX Labs, and my efforts to promote inclusivity in the industry.
About Me
I’m very excited to share my interview with Cointelegraph. From social trading to comprehensive educational resources, BingX aims to make crypto trading accessible and secure for everyone. Read more about that here.
Check out the exclusive Coingape interview and gain insights into the strategic partnerships driving BingX’s growth and impact in the crypto space.
I had a fantastic chat with WU Blockchain about BRC20, BingX’s strategy in 2024, and my professional background. Check out the article linked here!
Click the image below to receive exclusive gifts up to $5,155 by signing up for a BingX user account.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article. Not financial advice.