CMC Q3 Report: BTC Dominance Rises As DeFi Falters and AI, Meme Coins Surge
The CoinMarketCap (CMC) Q3 report reveals significant shifts in the crypto landscape. Bitcoin’s dominance surged to a two-year high of 56.8%, its highest level since April 2021, while the total stablecoin market cap hit an all-time high (ATH) of $160 billion, 2.5 times higher than April 2021 levels. Despite a slight dip in the global crypto market cap, down 0.13% to $2.24 trillion, trading volumes rose 12.6%, signaling sustained activity. As the bull market progress reaches 40.66%, it is currently 100 days ahead of schedule. Key sectors like AI and meme coins saw impressive growth in Q3, while DeFi and infrastructure projects faced declines. TRON emerged as the top performer for the quarter with a 21.51% gain, while the DeFi sector saw its total value locked (TVL) drop by 21.4% from its yearly high. https://twitter.com/CoinMarketCap/status/1841795552570441979?t=zH97nfXl8vVmRXR6ohKpRA&s=19 User activity also shifted, with […]