DappRadar: Digital Currencies Have Entered a Consolidation Phase
According to a DappRadar report, in Q3 2022, the crypto market entered a long phase of consolidation and a recovery started in September.
One of the most important events of the third quarter was the renewal of Ethereum and the transition of its network to the Proof-of-Stake consensus through The Merge update. Despite the recovery in investor activity, the crypto market capitalization is still below $1 trillion.
Between July and September, the value of digital currencies decreased by almost 9%. The first signs of recovery appeared at the end of last month.
The DeFi decentralized finance market was also able to stabilize after strong turbulence in May and June.
According to the company analysts, DeFi protocols have accumulated $69 billion in digital assets.
