Binance Q3 report calls crypto market ‘challenging’ amid high interest rates By Cointelegraph
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It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 “Market Pulse” report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony (NYSE:) and PayPal (NASDAQ:) helped offset some of the pain.
The global crypto market capitalization was down 8.6% quarter-on-quarter (QoQ), “with the ‘higher for longer’ interest rate rhetoric set to persist.” Fundraising was at its lowest since Q4 2020 and down 21.4% QoQ, with infrastructure doing significantly better than other sectors.
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It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 “Market Pulse” report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony (NYSE:) and PayPal (NASDAQ:) helped offset some of the pain.
The global crypto market capitalization was down 8.6% quarter-on-quarter (QoQ), “with the ‘higher for longer’ interest rate rhetoric set to persist.” Fundraising was at its lowest since Q4 2020 and down 21.4% QoQ, with infrastructure doing significantly better than other sectors.
Continue Reading on Cointelegraph
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