The third quarter of 2019 saw a decline in Digital Assets Market capitalization. The total market capitalization fell down from its peak in July 2019 ($300bn) to nearly $200bn at the end of September. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) which represent more than 80% of the total market capitalization displayed a significant decline in their prices owing to the fall in the total market cap. A recently released report by ExoAlpha highlights the plight of the top 3 coins and how they shaped the market in the third quarter.
A Look At Market Stats of Top 3 Coins
The third quarter saw Bitcoin price declining by 23%. Ether also suffered a sharp 38% decline. Interestingly, the volatility of the top 3 most liquid Digital Assets was lower than over the previous quarter: 75% for BTC, 69% for XRP and 83% for ETH. Even the digital assets derivatives market witnessed a key event this quarter, with the launch of the Bakkt platform on the 23rd of September 2019, the first regulated, Bitcoin futures contract physically delivered exchange, backed by the Intercontinental Exchange (ICE) exchange.
Bitcoin’s volatility was marked at 74.5% in the 3rd quarter and it reduced by 13% from the Q2. Furthermore, the volatility decreased from a high in July of 99% to a low in September at 53.6%. Over the quarter the volatility of Bitcoin has been 4 times higher than the volatility of the S&P 500 or Gold.