Story #10 — Cryptocurrencies stabilized
Last but not least, we note that cryptocurrencies sectors outperformed other traditional assets in Q3, recovering from double-digits losses in Q2. Despite a sharp post-Merge pullback, Ether (ETH) managed to close the quarter up more than 20%. After rallying in August, BTC lost most of its gains in September and ended the quarter slightly down following a drop in global risk sentiment.
Interestingly, we note that some brits chose to take refuge in bitcoin during the UK crisis. GBP/BTC trading volume on the Bitstamp and Bitfinex exchanges, which is usually around $70 million per day, reached a staggering $881 million on 26 September (the day of the GBP crisis), an increase of over 1,150%.
