![1 (2).png](https://cdn.steemitimages.com/DQmX9Vx5KEMcZLWMgiiT1QFXjGrtczNc9bSHbHu3Fnh9aTs/1%20(2).png) Decentralized Finance (DeFi) has been very prominent this summer. Other than the minor dip in mid-September, we have seen a continuous uptrend in the total crypto market cap since the March crash. In Q3, we also saw several new decentralized exchanges gaining popularity, fueled by the much-hyped yield farming trend kick-started by [Compound](https://www.coingecko.com/en/exchanges/compound_finance). Decentralized exchanges continue to grow at a much faster rate than its centralized counterparts. There is much to unpack in the CoinGecko Q3 2020 Quarterly Cryptocurrency Report. [![content_Copy_of_Download_the_August_Report_Here.png](https://images.hive.blog/DQmXLD5211LTGHtVceWhrrScMadHbX8G7Xh8RhoVtsG8m19/content_Copy_of_Download_the_August_Report_Here.png)](https://gcko.io/jwb99os) Here are some of the main highlights:

Market Capitalization continued to grow in Q3 by 31% (+$75b).

The price of bitcoin grew marginally (+8%) and reached a new peak at $12,272 on August 18th.

Over $9 billion capital inflow which was propelled by yield farming movement in the DeFi scene.

Uniswap strengthens its dominance as DeFi gains popularity.

Market Capitalization continued to grow amidst September uncertainties

![content_2.png](https://images.hive.blog/DQmbUnZtWJGL3gCRgoEmGmFi3yosi6pr2X4JecJucrF1tkt/content_2.png) The crypto markets experienced positive growth of +31% in market capitalization and +34% in trading volume. However, towards the end of Q3, market uncertainties (COVID-19 and U.S. elections in the upcoming November) reinjected fear into the markets and trimmed Q3 gains.

The price of bitcoin grew, reaching a new peak at $12,272

![content_5.png](https://images.hive.blog/DQmSputrUWPmaesZm6Enb2hB6UWnMSp1moRjkoLYmgnHAxj/content_5.png) We are seeing a record-breaking period for Bitcoin [(BTC)](https://www.coingecko.com/en/coins/bitcoin) since the crypto winter of 2018. This is the first time Bitcoin has stayed above the $10,000 benchmark for a sustained period of time, tallying at 65 consecutive days. Q3 also saw the price of Bitcoin reaching a new peak at $12,272, almost reaching the 2019 high of $12,996. Bitcoin price has been up 50% year-to-date.

Over $9 billion capital inflow in this quarter due to yield farming movement

![content_4.png](https://images.hive.blog/DQmb54RdcdttMTGiprg8pagz7fzczJrBNsfu3UQ9Kk79QPC/content_4.png) Q3 2020 was likely the period of time where capital inflow to the Ethereum [(ETH)](https://www.coingecko.com/en/coins/ethereum) blockchain is at its largest to-date since inception. Impressively, over $9 billion flowed into the space in this quarter alone, with Tether [(USDT)](https://www.coingecko.com/en/coins/tether) accounting for nearly two-thirds of the total inflow.

Uniswap strengthens its dominance of the DEX market

![content_3.png](https://images.hive.blog/DQmVTZwUmFukKix8sUofV33HG4iVMTZ27VSm4kLoNzKtVaX/content_3.png) In Q3, the DeFi & yield farming hype pushed trading volumes on decentralized exchanges up to new highs. Monthly trading volumes for the top 10 DEX increased from $3.8 billion in July to $30.4 billion in September. Throughout this period, [Uniswap](https://www.coingecko.com/en/exchanges/uniswap) & [Curve](https://www.coingecko.com/en/exchanges/curve) both remained as the dominant trading avenues. A new contender, [Sushiswap](https://www.coingecko.com/en/exchanges/sushiswap) (which is a fork of Uniswap), managed to grab up to 8% of market share, but it remains to be seen if it can continue to innovate.

Like what you see? Sign up to our [newsletter](https://landing.coingecko.com/newsletter/) for daily crypto updates and follow us on Twitter (@coingecko) for alpha leaks!