From Glassnode

How has the market changed over the past three months? Bitcoin’s price action has been largely range-bound, consolidating between $50,000 and $60,000 with some volatility in between. But at closer inspection, it’s evident that important developments have been unfolding behind the scenes.

For one, crypto markets have grown more liquid and sophisticated this quarter. Institutional interest in crypto remains strong. US Bitcoin spot ETFs saw $5 billion in net inflows, showing institutions are still engaged despite occasional volatility. Ethereum staking hit a new all-time high, reflecting how traditional finance is exploring new ways to engage with digital assets. Stablecoins, meanwhile, remain one of crypto’s most widely used applications. Their market cap reached a record $170 billion, with growing volumes proving their continued utility in cross-border transactions and beyond.

In this guide, we provide a comprehensive view of the forces driving these trends. We also point to shifts and directions that major digital assets - especially Bitcoin and Ethereum - might take as we approach year-end. Download the full report for a deeper dive into these insights. 

Below are some key takeaways you’ll find in the report:

A Maturing Market

The crypto market continues to mature, showing signs of increased accessibility, and sophistication. This growth has been fueled by institutional products like spot Bitcoin ETFs, more on-chain activity, and higher participation in Ethereum staking. Despite a lack of strong price action, these indicators show that the market is far from stagnant. Liquidity is improving, and institutional demand is driving much of this change.

The Growing Power of Spot BTC ETFs

One of the biggest stories in the market is the rise of Bitcoin spot ETFs. In Q3, US-based Bitcoin ETFs saw over $5 billion in net inflows, underscoring the strong demand for direct exposure to Bitcoin among institutional investors. These ETFs have become key drivers of liquidity and accessibility, making it easier for a broader range of market participants to gain exposure to Bitcoin without the complexities of direct ownership.

Ethereum Staking Hits an All-Time High

Another significant development is the record number of ETH staked. In Q3, Ethereum staking reached new highs, with more holders looking to generate yield from their positions. This reflects a growing confidence in Ethereum’s long-term value and the benefits of staking as a source of passive income for investors.

Why Download the Report?

Our Q4 Guide to Crypto Markets is nearly 50 pages describing the most impactful and actionable trends in the digital asset market. The insights you’ll find there give you a better view of Bitcoin and Ethereum but also into broader market trends such as the rise of stablecoins and the trends in the Layer 2 ecosystem. With our guide, you get a definitive view of the crypto economy, one that you can use to support your trading, investment strategies, or research.

Explore additional insights, such as the growth in Bitcoin derivatives volume and Ethereum’s network activity, and understand how these factors could shape the market in Q4 and beyond. Whether you're an investor, trader, researcher or content creator, these insights can help inform your positions and views for the trends ahead.