• Latest
CoinDesk Q4 2019 Review: A Year in Suspended Animation

CoinDesk Q4 2019 Review: A Year in Suspended Animation

January 23, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

CoinDesk Q4 2019 Review: A Year in Suspended Animation

coinnewsdaily by coinnewsdaily
January 23, 2020
in Tech
0
CoinDesk Q4 2019 Review: A Year in Suspended Animation
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

It has been over 10 years since the creation of cryptocurrencies, and while clear narratives have emerged to justify their existence, none are decisively supported by data.

For example, charts suggest bitcoin’s use case as a store of value is taking hold among some new investors, who have been shown to hold the asset through price run-ups. However, other metrics such as bitcoin’s correlation to gold suggest that, across the entire body of bitcoin investors, most are using the asset as something far different from “digital gold.”

On ethereum, DeFi has made impressive gains, but the shape of that line and a broader decline in user numbers suggest that the “web 3.0” narrative is still in its infancy.

Released today, the CoinDesk Quarterly Review surfaces the key data, trends and events shaping crypto markets, in a 45-slide presentation format. It evaluates three different use cases for crypto across more than 25 different data sets. The results of this analysis suggest a dominant narrative for bitcoin and alternative cryptocurrencies has yet to emerge.

Readers of this report are introduced to key metrics for tracking shifts in investor interest and global usage of cryptocurrencies. These include bitcoin’s “whale” population, UTXO age distribution, exchange volumes and more.

The data-driven takeaways include:

1. Not everyone who stood to profit, sold.

Percent of bitcoin supply by age since last transaction vs. time

Holders of bitcoin who last transacted in the second half of 2017 held through the end of 2019 despite rises in market price that would have made it profitable to sell. This suggests there is investor sentiment for bitcoin as a store of value rather than as a speculative asset. The bump in bitcoin holdings that last moved in late 2018 represents a movement of assets into a more secure form of storage by cryptocurrency exchange Coinbase in December 2018.

Coinbase’s bitcoin-fiat markets, among the world’s most popular for purchases of bitcoin in USD, GBP and EUR, have stalled since 2018. According to data from Nomics, bitcoin-fiat volume has dropped from an all-time high of $46.54 million in 2018 to $44.92 million in 2019. This market is primarily used by investors who view bitcoin as an alternative store of value from traditional currency, and can be thought of as a barometer for buy-and-hold sentiment.

2. Bitcoin ‘whale’ population remains healthy. 

Bitcoin address balances > 1,000 & bitcoin price vs. time

By the end of 2019, there were 2,100 bitcoin addresses holding more $8.5 million-worth of BTC each. The growth in these types of addresses, also called bitcoin “whales,” is a rough indicator of large investor participation in cryptocurrencies. Since 2018, the bitcoin whale population has been multiplying at rates not seen since the early 2000’s when bitcoin was trading below $100 or 1/85th of its current market price.

Off-chain activity on regulated cryptocurrency exchanges in the U.S. does not show similar signs of increased large investor participation in cryptocurrencies. Cryptocurrency data provider Skew reported a decline in volume for both the CME and Bakkt’s bitcoin futures open interest markets in 2019. These markets, unlike that of other popular cryptocurrency exchanges such as Coinbase and Binance, are designed to offer institutional investors regulated instruments for exposure on bitcoin. Institutional participation in cryptocurrencies may be lagging due to persisting imbalances in the underlying liquidity of these assets across various exchanges.

3. DeFi blooms in winter.

Percent ETH locked in DeFi lending platforms vs. time

One of the breakout successes of 2019 was decentralized finance (DeFi) applications. Collectively, these decentralized apps (dapps) managed over $680 million-worth of cryptocurrencies by the end of Q4, according to cryptocurrency data provider DeFi Pulse. Looking at the most popular sub-category of DeFi, cryptocurrency lending, user traction on ethereum continued to climb even when market price for ETH started to decline.

In other dapp categories such as gaming and gambling, the number of applications and users decreased in 2019. Cryptocurrency data provider DappRadar reports fewer dapps and dapp users in Q4 2019 than Q1. “In general, we’re seeing a rise in the quality of dapps and over time that means fewer dapps launched and fewer dapps attracting a large audience,” said Jon Jordan, communications director of DappRadar. It would seem outside of the DeFi boom on the ethereum blockchain, other dapp platforms and use cases are struggling to grow.

For more charts and analysis, download the full CoinDesk Quarterly Review.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Tags: CoinDeskCrypto TechDappRadarDigital Currency GroupJon Jordanmedia outlet
Share76Tweet48
Previous Post

Bitcoin Cash Miners Propose Controversial Soft Fork for Zcash-Style Development Fund

Next Post

Crypto Custody Provider Ledger Extends Reach in Asia With New Institutional Client

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Crypto Custody Provider Ledger Extends Reach in Asia With New Institutional Client

Crypto Custody Provider Ledger Extends Reach in Asia With New Institutional Client

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,387.000.13%
  • ethereumEthereum(ETH)$1,667.450.41%
  • tetherTether(USDT)$1.000.05%
  • binancecoinBNB(BNB)$333.991.36%
  • rippleXRP(XRP)$0.4113810.22%
  • cardanoCardano(ADA)$0.4011400.21%
  • dogecoinDogecoin(DOGE)$0.0958892.43%
  • matic-networkPolygon(MATIC)$1.241.01%
  • okbOKB(OKB)$43.826.31%
  • solanaSolana(SOL)$24.30-1.00%
  • shiba-inuShiba Inu(SHIB)$0.0000158.44%
  • polkadotPolkadot(DOT)$6.84-0.52%
  • litecoinLitecoin(LTC)$98.52-0.27%
  • tronTRON(TRX)$0.0652692.41%
  • daiDai(DAI)$1.000.11%
  • cosmosCosmos Hub(ATOM)$14.57-1.13%
  • chainlinkChainlink(LINK)$7.220.16%
  • ethereum-classicEthereum Classic(ETC)$23.721.24%
  • leo-tokenLEO Token(LEO)$3.491.63%
  • moneroMonero(XMR)$173.48-0.15%
  • bitcoin-cashBitcoin Cash(BCH)$137.840.71%
  • stellarStellar(XLM)$0.0936810.63%
  • crypto-com-chainCronos(CRO)$0.0836301.49%
  • filecoinFilecoin(FIL)$5.52-1.47%
  • algorandAlgorand(ALGO)$0.2692160.40%
  • vechainVeChain(VET)$0.0249230.66%
  • internet-computerInternet Computer(ICP)$5.881.07%
  • aaveAave(AAVE)$88.80-1.43%
  • eosEOS(EOS)$1.111.34%
  • elrond-erd-2MultiversX(EGLD)$46.601.91%
  • theta-tokenTheta Network(THETA)$1.153.90%
  • tezosTezos(XTZ)$1.204.26%
  • huobi-tokenHuobi(HT)$5.731.60%
  • paxos-standardPax Dollar(USDP)$1.000.04%
  • havvenSynthetix Network(SNX)$2.730.49%
  • bitcoin-cash-svBitcoin SV(BSV)$43.720.90%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.626.45%
  • iotaIOTA(MIOTA)$0.2512334.00%
  • dashDash(DASH)$61.05-0.92%
  • makerMaker(MKR)$712.660.01%
  • neoNEO(NEO)$8.81-0.73%
  • zcashZcash(ZEC)$46.16-0.94%
  • zilliqaZilliqa(ZIL)$0.0304450.16%
  • basic-attention-tokenBasic Attention(BAT)$0.2967606.12%
  • compound-governance-tokenCompound(COMP)$53.950.37%
  • nemNEM(XEM)$0.0407941.10%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$38.110.64%
  • bitcoin-goldBitcoin Gold(BTG)$17.590.60%
  • qtumQtum(QTUM)$2.831.26%
  • sushiSushi(SUSHI)$1.52-2.05%
  • golemGolem(GLM)$0.29545212.61%
  • wavesWaves(WAVES)$2.85-0.47%
  • yearn-financeyearn.finance(YFI)$7,884.89-0.61%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.581.80%
  • ontologyOntology(ONT)$0.2284662.41%
  • digibyteDigiByte(DGB)$0.011065-0.83%
  • umaUMA(UMA)$2.172.57%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%