{"id":13237,"date":"2021-10-15T17:54:09","date_gmt":"2021-10-15T17:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/coingecko-publishes-q3-crypto-report-btc-outperformed-every-major-asset-class-altcoins-decouple\/"},"modified":"2021-10-15T17:54:09","modified_gmt":"2021-10-15T17:54:09","slug":"coingecko-publishes-q3-crypto-report-btc-outperformed-every-major-asset-class-altcoins-decouple","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/coingecko-publishes-q3-crypto-report-btc-outperformed-every-major-asset-class-altcoins-decouple\/","title":{"rendered":"Coingecko Publishes Q3 Crypto Report \u2014 BTC Outperformed Every Major Asset Class, Altcoins Decouple"},"content":{"rendered":"

On Thursday, the crypto asset aggregation portal Coingecko published the firm\u2019s 2021 third-quarter report which shows a number of different findings. According to the study, for the most part, the crypto economy recovered from the market downturn in May as the top 30 market caps grew by 31% in Q3. The report shows that altcoins continue to decouple (specifically those from alternative chains) and the leading stablecoin tether has been losing its share \u201cas the preferred stablecoin.\u201d<\/strong><\/p>\n

2021 Q3 Cryptocurrency Report Observes the Crypto Landscape and Bitcoin\u2019s Third-Quarter Market Performance<\/h2>\n

This week Coingecko\u2019s analysts and founders\u2019 Bobby Ong and TM Lee published the firm\u2019s 2021 Q3 Cryptocurrency Report<\/a> which observes the crypto economy\u2019s third quarter. The study delves into a myriad of subjects including decentralized finance (defi), non-fungible token (NFT) assets, and Q3 crypto market performances. In the founder\u2019s note section of the report, Ong and Lee explain that \u201cNFTs are redefining value and culture.\u201d<\/p>\n

\u201c\u200b\u200bNFTs are here to stay and have proven themselves to be the gateway drug for mainstream adoption. We have been big fans of NFTs since learning about them in 2016,\u201d the Coingecko founders detail.<\/p>\n<\/p>\n

Furthermore, the report discusses bitcoin (BTC<\/a>) at great length and notes that the leading crypto asset saw an increased Q3 price return of around 25%. \u201cBitcoin ended Q3 2021 at $43,859, a 25% increase quarter-on-quarter and had consolidated since its retracement from Q3\u2019s peak,\u201d the report details. However, at the same time, the Coingecko research finds there was an increase in altcoin dominance.<\/p>\n<\/p>\n

\u201cAltcoins\u2019 dominance [continued] to outperform Bitcoin\u2019s which declined by as much as 4.5%, signifying the growing sentiment that altcoins are decoupling from Bitcoin. The exceptions, however, are Cardano and Tether. Tether marked the biggest decline with a 15.7% drop,\u201d the researchers add. Stablecoins that increased in dominance include USDC, BUSD, DAI, and UST.<\/p>\n

Strong Hashrate Recovery, Bitcoin Outperforms Traditional Assets and Indices<\/h2>\n

The 40-page report explains that the BTC<\/a> hashrate increased 54% in the third quarter and the research emphasizes the bitcoin mining crackdown that took place in China. \u201cThe strong hashrate recovery may be linked to the great miner migration from China to the rest of the world,\u201d Coingecko\u2019s report details.<\/p>\n<\/p>\n

The report coincides with new data<\/a> from Cambridge University\u2019s Bitcoin Electricity Consumption Index (CBECI) project, which shows that a great number of mining operations now reside in the U.S. During the third quarter, Coingecko researchers note that bitcoin (BTC<\/a>) has \u201cclimbed 25% and outperformed all other major asset classes.\u201d \u201cAll major asset classes and indices performed worse in Q3 2021 relative to Q3 2020 except for DXY and the Nasdaq index,\u201d the study\u2019s researchers noted.<\/p>\n

The research dives into other metrics as well, and in Q3 2021, public companies controlled around 1.11% of the entire BTC<\/a> supply. Additionally, the report notes that BTC<\/a>\u2019s market valuation is 13.5X away from surpassing gold\u2019s overall market capitalization.<\/p>\n

Since Coingecko\u2019s Q3 2021 report was published, bitcoin (BTC<\/a>) has increased a great deal in value. For instance, the day before the report was published BTC<\/a> was swapping for $54,887 per unit and today the crypto asset is exchanging hands for above $61.2K per BTC<\/a>. That\u2019s an increase of 11.59% during the last two days.<\/p>\n

What do you think about Coingecko\u2019s 2021 third quarter crypto-asset report? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nEmerging Markets, Assets, Bitcoin (BTC), Bobby Ong, BTC, BTC Markets, China, China crackdown, CoinGecko, crypto assets, DXY, gold, Hashpower, Hashrate, Indices, Nasdaq Index, public companies, q3, Q3 price return, Q3 Report, Stablecoins, Tether, TM Lee, Traditional assets<\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, the crypto asset aggregation portal Coingecko published the firm\u2019s 2021 third-quarter report which shows a number of different findings. According to the study, for the most part, the crypto economy recovered from the market downturn in May as the top 30 market caps grew by 31% in Q3. The report shows that altcoins…<\/p>\n","protected":false},"author":0,"featured_media":13238,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13237"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13237"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13238"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}