2019-7-19 01:00 |
Coinspeaker
CoinGecko Releases 2019 Quarter 2 Cryptocurrency Report
CoinGecko, one of the world’s leading cryptocurrency aggregators, today published its 2019 Quarter 2 Cryptocurrency Report. The 46-page report gives an overview of the state of the cryptocurrency market and the major events that happened in the second quarter of 2019.
Bobby Ong, co-founder of CoinGecko said the following in relation to the report,
“Crypto summer is undeniably upon us as we see the industry enter the mainstream consciousness again, in part due to Facebook’s recent announcement of Libra. The release of CoinGecko’s Trust Score during Consensus New York has been met with a positive response which emboldens our resolve to empower our users with richer data to make better-informed decisions. As with all our resources, I hope our readers will benefit from this report with the latest data and insights as they get better informed about the industry.”
Cryptocurrency Market OverviewThis quarter saw an astounding 125% increase in crypto market capitalization as crypto summer began to thaw out the winter. Bitcoin led the market with a gain of 165% in value from $4,103 to $10,888. The increase in Bitcoin’s price saw its market dominance increase from 54.6% to 65.0%.
Cryptocurrency Exchange MarketThe cryptocurrency exchange market has also grown significantly. A total of 302 exchanges – or 87% of all cryptocurrency exchanges tracked by CoinGecko, were added in the last 18 months throughout CoinGecko’s 5-year history. Exchange hacks have also become increasingly sophisticated where even top exchanges such as Binance were not spared with 7,070 Bitcoin worth an equivalent of $40 million was stolen off the platform.
Due to the increase in demand for a more secure trading platform, decentralized exchanges have risen in popularity as a way to combat the risks of centralized exchanges.
Highlights from the CoinGecko Quarter 2 ReportCoinGecko’s Proprietary Trust ScoreCoinGecko’s Trust Score algorithm was created to address questionable trading volume reported by exchanges. CoinGecko users are now presented with normalized trading volumes based on exchange traffic statistics and in-depth order book data. With CoinGecko’s Trust Score, exchanges now have the incentive to be transparent and to empower users to make better-informed decisions.
Strong Growth in Initial Exchange Offerings (IEO)The IEO trend continued to grow throughout Q2 2019, peaking in April with 34 IEOs and $109.9 million raised in a single month. Q2 was by far the most popular period for IEO with 66 out of 72 (91%) IEOs occurring during this period. A total of $262 million was raised via IEOs in the first half of 2019. However, only 50% of IEOs were currently traded above IEO price by the end of June 2019.
Facebook Announces LibraThe crypto industry was given mainstream media attention when social media giant Facebook announced Libra, a global blockchain-powered payment system with a vision to “reinvent money and transform the global economy”. CoinGecko summarized the content of the Libra whitepaper so that readers will have a clearer understanding of what Libra is about.
Lightning Network Growing SteadilyThis report provides insights into the development of the Lightning Network, a second-layer solution for cheap and instant Bitcoin payments. The Lightning Network’s overall network capacity saw an 87% increase to over 1,100 BTC and its node count doubled to 4,576 nodes at the end of Q2 2019.
This is the 8th edition of the CoinGecko’s Quarterly Cryptocurrency Report. To read the full report, do refer to the following links:
PDF: http://bit.ly/CoinGecko-2019-Q2-Report Slideshare: https://www.slideshare.net/coingecko/coingecko-2019-q2-cryptocurrency-reportAbout CoinGeckoCoinGecko aims to provide a 360-degree overview of the cryptocurrency market. In addition to tracking cryptocurrency price, volume and network value, CoinGecko also tracks fundamental data such as community growth, open-source code development, major events and on-chain metrics. CoinGecko’s objective is to elevate participants’ understanding of the fundamental factors that drive the market. Operating since early 2014, CoinGecko is one of the largest and earliest cryptocurrency data aggregators, tracking over 5,100 tokens across 350 exchanges.
For more information, visit https://www.coingecko.com.
CoinGecko Releases 2019 Quarter 2 Cryptocurrency Report
Similar to Notcoin - Blum - Airdrops In 2024
Global Cryptocurrency (GCC) на Currencies.ru
|
