Bitwise Reports Significant Gains in Q3, Indicating Potential Market Recovery
- Bitwise’s large-cap crypto index saw a quarterly gain of 46.4%.
- US spot Bitcoin ETF inflows reached $6 billion, boosting year-to-date net flows into positive territory.
- The value of tokenized equities rose by 65.5% to nearly $3.2 billion.
- Open interest on decentralized perpetual futures hit a record near $26 billion.
- Bitcoin (BTC) gained 42.3%, while Ether (ETH) and Solana (SOL) rose by 69.1% and 59.2%, respectively.
- Despite the quarterly gains, Bitwise’s large-cap crypto index is down 6.2% for the year through September.
The strong performance in Q3 suggests a potential recovery in the cryptocurrency market, with significant increases in both prices and onchain activity noted by analysts like Matt Hougan from Bitwise.
With Bitcoin gaining over 42% and a notable rise in tokenized assets, the data points to an encouraging trend for investors as the market shows signs of life after previous downturns.
