In Q3, 2023, all participants of cryptocurrency markets received several messages, both inspiring and alarming. Blockchain analysts from CryptoRank, a top-tier research and data platform on Web3, published a recap of what happened in July-September 2023.The saga about the potential U.S. SEC approval of Bitcoin and Ethereum spot ETFs was the dominant catalyst of cryptocurrency processes in Q3, 2023.
However, the authors of the report opined that the consequences of an increase in such instruments are not yet clear. Currently, the market does not have a unified stance on whether this or that company has purchased Bitcoins or not.Even in this turbulent context, new types of applications gain traction. The launch of the Base blockchain backed by the largest U.S. exchange Coinbase was truly remarkable.
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