It's been a challenging quarter for cryptocurrencies, Binance confirmed in its Q3 "Market Pulse" report. The market fell in many sectors, according to the report foundalthough the entry of institutional players such as Deutsche Bank, sony (NYSE 🙂 and PayPal (NASDAQ 🙂) helped offset some of the pain.
Global crypto market capitalization fell 8.6% quarter-on-quarter (QoQ), "and the 'higher for longer' interest rate rhetoric will persist." Fundraising was at its lowest level since the fourth quarter of 2020 and was down 21.4% quarter-on-quarter, with infrastructure performing significantly better than other sectors.
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