Crypto market remains flat in Q3 amid volatility, centralized exchange volume drops 14.8%

The total cryptocurrency market capitalization stayed flat at $2.33 trillion, despite significant volatility driven by geopolitical events, including U.S. Federal Reserve rate changes and Japan’s surprise rate hike, according to CoinGecko’s Q3 report. Bitcoin’s dominance rose to 53.6%, while Ethereum’s share of decentralized exchange trading continued to decline in favor of Solana and Base. Global spot trading volume on centralized exchanges fell by 14.8% year-over-year to $3.05 trillion. Binance remained the top exchange but saw its market share dip below 40% for the first time since January 2022, landing at 38%. In contrast, Crypto.com experienced a 160.8% surge in trading volume, while OKX and Gate.io saw over 30% drops. Upbit ranked sixth in September with a 5.04% market share.