Binance Research has just released its Q3 report for 2023. “State of Crypto: Market Pulse” provides a snapshot of the blockchain industry as the year prepares to enter its final quarter. There’s been a lot to pack into the last three months of crypto activity but Binance Research does its best to cover it.
One key highlight from the 53-page document is significant investment in blockchain infrastructure projects, but this is tempered by tough market conditions. Total value locked (TVL) into DeFi protocols is down in Q3, as is volume, while the total market capitalization has decreased by 8.6%. There are other positives, though, including positive regulatory news that has raised expectations of Bitcoin ETF approval in the near future.
Market Conditions Tighten in Q3
Binance’s Market Pulse report cuts straight to the chase in detailing the areas where crypto struggled in Q3 2023. The most obvious sign of this is the 8.6% decline in the capitalization of all crypto assets. The fa
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