CoinGecko Releases Q2 2019 Quarterly Cryptocurrency Report
We have just released the CoinGecko 2019 Quarter 2 Cryptocurrency Report. This 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.
Shoutout to @dapp.com and RSK for collaborating and contributing to this report.
The charts don’t lie, crypto summer has finally arrived! As crypto summer began to thaw out last year’s crypto winter, this quarter saw an astounding 125% increase in crypto market capitalization. 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%.
Some Highlights of the Report
As always, aside from the quarterly snapshot of market trends and insights, we’ve also included a number of notable highlights this quarter.
CoinGecko’s Trust Score
CoinGecko’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.
Initial Exchange Offerings (IEO)
The IEO trend continued to grow throughout Q2, 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 traded above their IEO price by the end of June 2019.
Facebook’s Libra Project
The 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”.
We’ve summarized the content of the Libra whitepaper for your reading pleasure so that you can have a clearer understanding of what Libra is about.
Lightning Network
This report will also provide insights into the development of the Lightning Network this year. The Lightning Network is a second-layer solution built on top of the Bitcoin Network to allow 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 by the end of Q2 2019. 2019 also brought about major updates and releases of different Lightning Network apps.
We welcome everyone to read and share this report. The full report can be downloaded at the button below.
This report represents our 8th edition on highlight crypto market trend and providing market insights for free. Things in the crypto space are happening faster than ever. 1 quarter might as well be a year long seeing as how new projects, updates, news and even drama unfolds every single day.
As always, we are open to opinions and we would really appreciate your feedback – get in touch with us here, on Twitter, Telegram, Discord or write to us at [email protected].
It was wonderful to be a part of the report research crew and making it possible for people to learn about what's happening for the past 3 months in crypto, all for free!
Hope many will benefit from using the report even if it's just glancing to stay updated in the scene.
Posted using Partiko Android
Great work @coingecko putting this info together, and very interesting, thanks.
I'm a little surprised bitcoin is more dominant now, but then it's all some people have heard of despite it being behind other coins technology wise. There are just do many coins now and I suspect most have no real usage. If its all just speculation then it remains a bubble that could pop any time
We'd argue that bitcoin still remains one of the most state-of-the-art cryptocurrency out there despite being the oldest, some of the issues discussed by the cryptographers and bitcoin developers on GitHub is absolutely on the next level.
The invention of decentralized and open p2p networks (blockchain) birthed from Nakamoto's bitcoin has made it possible for all kinds of use cases, the free market environment over time will definitely decide which of these implementations will survive.
Bitcoin did get a lot right from the start and was very innovative. It is still a pretty new technology. The next few years will be interesting.
Hi @coingecko
I have downloaded the report and I just had quick look at it and found it so good. I has nice analysis of BitCoin and cryptocurrency market. I will study this report throuroghly in the weekend. Great work done @coingecko
You rock!
Posted using Partiko Android
Great! we have a contest coming up soon that you can stand a chance to win something if you share about what you learned from the report!
That's awesome. I will participate. Thanks
Posted using Partiko Android
I love Coingecko. Best place to search any crypto.
Posted using Partiko Android
the future is looking bright for crypto. was hoping for the winter to last longer but it fine
That's an interesting report, I just came across it and read it! Congrats for putting it together! I'll resteem it.
hey coingecko how about put a steemleo tag on your reports
Steemleo? what is that about?
https://www.steemleo.com/steemleo/@steem.leo/a-new-scot-tribe-on-the-block-or-introducing-steemleo-a-community-for-investors
another way for you to get tokens tradeable for steem, maybe some more eyes on your posts
Thanks for the link. We'll take a look at this.