Cryptocurrency Market Trading Volume Went up Nearly 600% in 2019

Cryptocurrency Market Trading Volume Went up Nearly 600% in 2019
фото показано с : beincrypto.com

2020-1-25 12:34

Cryptocurrency data platform CoinGecko has released its yearly report, which covers key technological and economic developments of 2019, as well as providing insight into the market through analysts and industry insiders. One of the most striking statistics is that Bitcoin’s trading volume has risen by 600% in 2019.

CoinGecko, the cryptocurrency data platform that provides data on market cap, trading volume, and code development, has released its annual cryptocurrency report. The CoinGecko Yearly Report for 2019 details developments in technology, the market economy, and psychology, and all also reveals what insiders and market leaders believe will transpire in 2020.

The market has steadily gained in terms of market cap and trading volume, and the report also provides several other optimism signs.

The market’s entire market capitalization has risen by 44.1%, gaining $60 billion over the year, and closing the year at $180 billion. According to the report, trading volume saw a much better year, growing almost 600% – a staggering fact, with over $50 billion being traded on average at the end of the year.

Unsurprisingly, Bitcoin was 2019’s best-performing asset, gaining 95% over the year despite showing volatility with a range from $3,500 to $13,500. For comparison, gold 19$, the S&P 500 29%, and silver 15.6%.

As for the top altcoins, one notable statistic is XRP’s 45% drop over the year. Ethereum experienced a small drop in value at 2%, while Bitcoin Cash (BCH) and Litecoin (LTC) gained 38% and 37% respectively, and that’s not to mention other cryptocurrency statistics.

DeFi Features Prominently in CoinGecko Report

CoinGecko also describes the impact that Decentralized Finance (DeFi) is having on the market. Earlier we reported about the developments in DeFi, including the exponential growth in investment and the domination of Ethereum based DApps.

DeFi is increasingly being considered a cornerstone of the market. Stating that DeFi plays a role in banking the unbanked and making the money market more efficient, the report highlights the $160 million growth in the sector and the prevalence of lending platforms like Maker.

The term is a broad one, used to categorize several financial services under one umbrella. The DeFi space includes stablecoins, derivatives, decentralized exchanges, and lending services. The Maker platform, which is composed of governance cryptocurrency token MKR and stablecoin DAI, is the largest entity in Defi, with roughly $440 million locked up.

Leaders See Multiple Cryptocurrency Developments on Various Fronts

Industry insiders and experts have reserved optimism for 2020, with many stating that 2020 is a year of multiple developments on various fronts. One common prediction is the growth of DeFi, with CoinFLEX CEO Mark Lamb, saying that derivatives markets growth likely:

“In 2020 the surface area of trading and investment opportunities will balloon as derivatives volumes increase by an order of magnitude. Basis will remain extremely volatile and this year we will experience 2 periods of extremely widening, bringing in fresh capital into the derivatives markets.”

The post Cryptocurrency Market Trading Volume Went up Nearly 600% in 2019 appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Global Cryptocurrency (GCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0034444 (-100%)

cryptocurrency 2019 market developments economic insiders technological

cryptocurrency 2019 → Результатов: 126


Фото:

Japan’s Second Largest Bank to Launch its Own Cryptocurrency in March 2019

According to a report published by Finance Magnets, on December 26, 2018, Japan-based company Mizuho Financial Group is primed to launch its yen-pegged cryptocurrency in March 2019. Mizuho’s Stablecoin to Be Launched in March 2019 The cryptocurrency being introduced by Mizuho will have parity with the Japanese yen and can be used to make and receive payments through a mobile.

2018-12-28 06:00


Mike Novogratz Says 2019 Institutional FOMO Will Drive Bitcoin (BTC) Price to New All-Time Highs

Michael Novogratz, one of the most important figures in the cryptocurrency space and supporter of blockchain technology, said that Bitcoin could see new all time highs in 2019. According to Financial News, Novogratz said that Bitcoin could reach $20,000 dollars or even more in 2019 fueled by institutional investors. During 2017, Bitcoin moved from $950 […]

2018-11-6 04:50


Crypto Trader Ronnie Moas places $20K Bet against Vinny Lingham that BTC price will hit $28,000 By the End Of 2019

The recent cryptocurrency World crypto con in Las Vegas rounded up in an interesting situation where two top cryptocurrency investors engaged in a bet, predicting the outcome of Bitcoin in 2019. Cryptocurrency and stock trader Ronnie Moas who attended the meeting announced the $20,000 bet he put up against $CVC founder Vinny Lingham, saying that […] The post Crypto Trader Ronnie Moas places $20K Bet against Vinny Lingham that BTC price will hit $28,000 By the End Of 2019 appeared first on ZyCrypto.

2018-11-3 15:32


Фото:

Visa Looking to Launch Blockchain Solution for B2B Cross-Border Payments

In a bid to make it easier for financial institutions to send cross-border payments globally, in a fast, secure and cost-efficient way, Visa is joining forces with IBM and Bottomline Technologies to launch its B2B Connect distributed ledger technology (DLT) solution powered by Linux Foundation’s Hyperledger Fabric framework by the first quarter of 2019, reported Finextra on October 22, 2018.

2018-10-23 13:00


Фото:

Australian NSW Government Looks to Blockchain Technology For Property Conveyancing

The Australian New South Wales (NSW) Government is eager to trial blockchain technology for property conveyancing because it may make the process more efficient, cheap, secure, and reliable. According to ZDNet’s article published on October 15, 2018, the NSW Land Registry will complete a proof of concept in early 2019 with the intent of shifting all form of land registry.

2018-10-18 19:00