Crypto exchange EXMO recently released a report on the global crypto market and highlighted a 40% jump in cryptocurrency market capitalization during the third quarter of 2021.
According to a report shared with Finance Magnates, September 7, 2021 saw a significant increase in trading volumes across the cryptocurrency market. The EXMO report highlighted a sharp drop in Dogecoin trading volumes over the last quarter. In contrast, XRP trading volumes increased significantly in August 2021.
The majority of crypto assets ended the third quarter in positive territory. However, digital assets such as Litecoin, Bitcoin Cash and Stellar showed poor results in the third quarter of 2021.
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“Cryptocurrency market capitalization grew 39% over the last quarter, although there were some declines in September. From the beginning of the year to the end of the third quarter, the cryptocurrency market volume grew by 152%. Dogecoin trading volumes decreased 12 times compared to the second quarter, It is the largest drop observed in Q3. EXMO said in the report that volumes were at their lowest in July and September.
Cryptocurrency adoption
The latest EXMO report showed a significant increase in first deposits over the last quarter due to a jump in cryptocurrency adoption globally. The average amount of first deposits in the last quarter jumped 44% compared to the second quarter of 2021.” Of all the cryptocurrencies listed on EXMO, Wirex (WXT), Polkadot (DOT), and Cryptocean (CRON) saw the largest balance growth in the quarter. Polkadot was listed on EXMO at the end of the second quarter,” EXMO added.
The overall adoption of Bitcoin and other crypto assets increased significantly in the third quarter of 2021. According to one estimate, there are more than 220 million cryptocurrency users around the world, which is more than 100% more than in January 2021. The market capitalization of coins is Digital is currently around $2.2 trillion. BTC represents 46% of the total cryptocurrency market capitalization.
