CoinGecko Shares Crypto Report for the Year 2019

CoinGecko Shares Crypto Report for the Year 2019

USA – CoinGecko releases the 50-page year-end digital asset report for the year 2019. It provides an outline of the state of the digital asset market during the last year with major events, insights, and more.

The previous year was a mixed bag for the five most renowned cryptocurrencies after Litecoin, Bitcoin Cash, and Bitcoin made gains. XRP and Ethereum, on the other hand, lose their value. The biggest winner among the five digital assets was Bitcoin, wherein it gained 95%. It started at $3,693, and it ended with a price of $7,195. The main loser was XRP, wherein it lost 45%. This cryptocurrency started at $0.35, yet it ended at $0.19.

When it comes to market capitalization ascendency among the best 30 digital assets, only Tether and Bitcoin supported their positions. The dominance of Bitcoin boosted from 56.3% to 71.5%. As for Tether, it increased to 2.35% from 1.85%. Moreover, most other digital assets witnessed a decrease in the market capitalization supremacy in the year 2019.

Last year, there was a boost in the number of new digital asset spot trades followed on CoinGecko. There was a more than 150%-increase at it increased to 400 from 270. Binance stays as the leader. Also, it averaged about $1 billion in regularized 24-hour exchange volume, which increased 100% compared to the record last January 2019. Furthermore, the closest rival, Coinbase, averaged around $110 million at the same time.

The digital asset offshoots market heated up as well in 2019. CoinGecko began tracking offshoot products and 25 new trades last year. BitMex leads as the most famous derivatives trade, which is most distinguished in perpetual swap agreements. During December 2019, the open interest of BitMEX was around $1 billion, which is a 233%-increase compared to the figure in January 2019.

One of the highlights of the report was the continuous domination of Tether, wherein it dominated the stablecoin market in the year 2019, regardless of being gritty with accusations of it, not being supported 1:1 with the United States or US dollar. Based on the report, the only stablecoin had the chance to boost its circulation supremacy while the others face losses.

Twenty leaders provided their 2020 predictions. The leaders include Samson Mow, the Chief Strategy Officer of Blockstream, Sandeep Nailwal, the COO of Matic Network, Justin Sun, the CEO of BitTorrent and Tron, and Taylor Monahan, the CEO of MyCrypto. A frequent theme is that several appears to agree that this year will be an excellent year for Defi utilization cases.

In Google Scholar, on the other hand, Bitcoin earned more than 34,100 mentions, and it turned a dollar to $90,000.

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