BNB Left These Crypto Coins Behind In The Third Quarter!

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CoinGecko’s quarterly report, which was recently released, says Q3 was great for DeFi. Ethereum and BNB surpassed Bitcoin in the last quarter. Despite the strategic investments of MicroStrategy and Square Inc., BTC’s market dominance has declined.

The rise of DeFi has been a reward for decentralized exchanges, as some now compete with centralized platforms for volume.

CoinGecko’s Q3 2020 (third quarter) report, dubbed the “Rise of DeFi”, offers many reasons to celebrate the cryptocurrency ecosystem.

Spot market capitalization increased by 31%, so Bitcoin’s price remained largely above $ 10,000, and decentralized exchanges (DEXs) steal the role from their centralized counterparts.

Binance’s native token, BNB, stands out as the most profitable cryptocurrency investment, with a rate of over 90%. Ethereum fell behind BNB with a 60% increase. Bitcoin, on the other hand, experienced a modest increase of 17%.

Although BTC lagged behind in percentage terms, it added much more to the best cryptocurrency market cap than both ETH and BNB combined.

While the market value of bitcoin increases by about $ 40,228,217,099, BNB’s earnings represent only $ 1,385,669,007. Ethereum, on the other hand, gained $ 15,207,769,425.

However, the most important return on investment came from DeFi, the most popular area of ​​this year.

The excitement that started in June made a big impact for the rest of the summer. With its scandals and innovative products, DeFi still continues as an ongoing story.

UMA (UMA) gained 363%, followed by Aave (LEND) at 304% and Loopring (LRC) at 190%. Among the few tokens that lost in the 3rd quarter can be the Compound, the platform that started it all. Since the beginning of July, COMP has lost 38% of its value.

Bitcoin’s Dominance Weakened Despite Big Investment
Micro-level investors who bought most DeFi tokens, BNB and ETH earned more than BTC investors in Q3 2020.

At the macro level, however, Bitcoin’s market value gains outperform the rest of the market by a margin greater than $ 25 billion.


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