Market Report Q3/2020 – Strong quarter for bitcoin

Share this article:
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on telegram

The latest cryptocurrency market report for Q3/2020 has been published. The past quarter was strong especially for bitcoin. Bitcoin market dominance grew during the quarter and the same trend has continued in October and November as well.

In this report we take a deep dive into the central bank policies in different regions of the world following the economic crisis caused by COVID-19.

You can download the full cryptocurrency market report here.

Huge rise in the amount of dollars in circulation in 2020

In order to stabilize the economy amid the COVID-19 disease, central bank policies have radically aligned towards quantitative easing and expansive monetary policies. The total monetary base of the United States has increased to 4,8 billion dollars in August. Representing 1,4 trillion USD increase in 2020 alone, rising from January 3,4 trillion and peaking at 5,1 trillion in May. 22 percent of the total dollar amount in circulation was created during 2020 alone.

”Flooding markets with freshly printed fiat money will create artificial value and make markets more volatile.”

– Anna Svahn, Antiloop Hedge

Institutional adoption of bitcoin is on the rise

Institutional growth has been one of the main driving forces behind the developing digital asset industry. In 2020 institutions are holding more bitcoins than ever and institutions like Grayscale LLC are estimated to own up to 3,4 percent of all bitcoins by 2021.

One practical metric to measure the impact of institutional investors on the broader market is comparing its inflows as a proportion of mined bitcoins. Grayscale’s inflows as a proportion to mined bitcoins has tripled from the first quarter of 2020, rising from Q1 27% into 77% in the third quarter.

Bitcoin allocation of publicly traded companies are on a steady climb too. Grayscale is forecasted to own a whopping 3,4 percent of all bitcoins by 2021. The current estimated amount of bitcoins in Grayscale’s Bitcoin Trust (GBTC) is 449 596 ($5,18 billion), making Grayscale the leader in terms of bitcoin holdings in the U.S. and worldwide. CoinSharesis the second largest institutional bitcoin holder with 69730 BTC ($803,43 million), mainly operating within EU jurisdiction.

Tether maintains position as the No 1. stablecoin

The first widely adapted stablecoin Tether is still dominating despite the increasing number of competitors. In the report we take a closer look at the stablecoin market. Below you can see other main topics of this cryptocurrency market report.

  • Exchanges
  • Peer-to-peer market
  • Digital and traditional assets
  • Decentralized finance (DEFI)
  • Emerging markets
  • Decentralized exchanges


Download the full cryptocurrency market report.

Related articles
Start the discussion
Inline Feedbacks
View all comments
coinmotion logo

Not a Coinmotion user yet?
Sign-up for a free account right now!

Follow Coinmotion on Twitter for the latest news!


Tilaa uutiskirjeemme
Haluatko kuulla ensimmäisten joukossa tuoteuutuuksistamme, saada super hyper erikoistarjouksia sekä oppia kryptovaluuttasektorista lisää eksklusiivisten markkinaraporttiemme kautta? Haluaisimme lähettää sinulle sähköpostia silloin ja tällöin – ei kuitenkaan liian usein – eli jos haluat päästä etuihin kiinni, täytä tietosi alapuolelle. Pysytään yhteyksissä! Oletko jo Coinmotionin käyttäjä? Voit muuttaa tilaustasi myös tilin asetuksissa.
Tilaa uutiskirjeemme täyttämällä tietosi
Lisätietoja tietojen käsittelystä löydät tietosuojalausekkeestamme
Suscríbete al boletín de noticias de Coinmotion
¿Quieres ser el primero en enterarte de nuestras novedades, recibir ofertas mega buenas y aprender más sobre el sector de las criptomonedas a través de informes exclusivos de mercado? Nos gustaría enviarte un email de vez en cuando – no demasiado a menudo – así que por favor rellena tus datos abajo. ¡Estamos en contacto! ¿Ya eres usuario de Coinmotion? Puedes gestionar tu suscripción a través de la configuración de la cuenta.
Suscríbete ahora rellenando tus datos aquí
Responsable del fichero: Coinmotion Oy. Finalidad: envío de información sobre productos y servicios propios al suscrito. Legitimación: consentimiento. Destinatarios: No se comunicarán los datos a terceros. Derechos: acceder, rectificar y suprimir los datos, así como otros derechos, como se explica en la información adicional. Puede consultar información adicional y detallada en nuestra Política de Privacidad.
Subscribe to Coinmotion Newsletter
Would you like to be the first one to hear about our product updates, receive super hyper special offers and learn more about cryptocurrencies through our exclusive market reports? We are happy to send you an email every now and then – not too often – so please fill your information below. Let’s stay in touch! Are you already a Coinmotion user? You can also manage your subscription via account settings.
Subscribe now by filling your details here
Responsible for the file: Coinmotion Oy. Purpose: sending information about own products and services to the undersigned. Legitimation: consent. Recipients: The data will not be communicated to third parties. Rights: access, rectify and delete data, as well as other rights, as explained in the additional information. You can consult additional and detailed information in our Privacy Policy