Giuseppe Graziano released the Q3 2025 Liquid Market Report.
📉 Public sales fell sharply this quarter, dropping by 81.61% to $4.36M, after last quarter’s record surge — a reversion to the mean driven by the absence of standout end-user deals.
💸 Escrow.com volume held firm, rising 7.43% QoQ to $14.47M, showing steady investor interest despite the cooling in public markets.
💼 4L .coms once again dominated, generating over $10M in escrow sales, nearly 70% of the total escrow.com volume for the quarter.
🧾 3L .coms were a distant second, with approximately $1.5M in escrow.com sales and $659K in public deals, showing modest but consistent liquidity.
🌐 2L .coms continued to show the highest development rate, with over 28% actively developed, underlining their value to end-users.
🔁 Turnover remained low across the board, with no category exceeding a 1% quarterly turnover, reflecting tight supply and cautious trading.
⚠️ 5N .com values remain weak, with poor development and minimal activity — a continuation of their downward trend.
🏗️ 2C and 3L .coms showed relatively high development levels, above many more expensive categories — an underappreciated trend worth watching.
📉 GoDaddy and Verisign underperformed in Q3, with GoDaddy down 24.01% and Verisign slipping 2.93%, trailing behind other asset classes like Gold (+16.61%), NASDAQ (+11.24%), and Bitcoin ETFs (+5.82%).
🏘️ REITs (VNQ) posted modest gains of 3.64% in Q3, mirroring the sideways trend seen in 4L and 5N .coms — highlighting a cautious investment climate across both digital and physical assets.
You can view the full report here