CoinGecko has released a report with important details in the crypto space as far as 2020’s third quarter is concerned. Titled “Summer of DeFi”, the report mentions a few notable crypto happenings over the quarter, and some interesting facts.
CoinGecko’s report mentions that the crypto sector’s general spot market capitalization has climbed by 31%. The report also mentions that the DeFi sector pumped considerably in the quarter.
Specifically, the article says that DeFi assets performed better than most of the market, delivering impressive returns on investors’ investment. It mentions that UMA (UMA) rose 363%, Aave (LEND) jumped 304%, and Loopring (LRC) also increased by 190%. However, Compound (COMP) lost 38% in the same period.
Outside of the DeFi space, the Binance native token, BNB, proved to be the most profitable crypto asset in the quarter, according to CoinGecko. The report says BNB climbed 90% for the quarter. BNB was followed by Ethereum (ETH), which climbed 60%. Both altcoins outpaced Bitcoin considerably, as the king coin climbed a humble 17% in the quarter.
Regardless of the small increase in value, Bitcoin’s market cap put on more weight than the increase in the addition of both BNB and ETH. However, Bitcoin’s dominance is generally dropping.
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