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Genesis Digital Report Shows that Market Share of Ethereum Continues to Rise

Amy Liu

Summary: Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 report. The report confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. According to the Genesis report, bitcoin trading accounted for almost 47% of the total trading done on its platform. ...

Genesis Digital, a leading cryptocurrency trading, lending, and custody desk, released its Q2 report. The report confirms that institutional interest in crypto is still rising despite the crash in prices the market experienced in Q2 2021. According to the Genesis report, bitcoin trading accounted for almost 47% of the total trading done on its platform. However, this number marks a sharp decline from the 80% share bitcoin commanded during Q2 2020. Most of the market share lost by bitcoin migrated to ethereum, which accounted for 25% of the volume traded in the same period. Institutions also showed demand for DeFi tokens like uni, sushi, aave, and other Ethereum-based DeFi protocols. 

By Amy Liu

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