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On January 15, CoinGecko released its annual encryption of 2018. The 83-page document provided valuable insights into the downward trend in the last year and its implications on the market.
It included 13 chapters and a section of appendix, summarizing all the cryptic things in 2018, from market dynamics and cryptographic exchanges to hacks and encrypted thefts during the year.
The remaining chapters focused on increasing stable currencies, on the bitcoin cash division, along with the analysis and comments on the relevant data collected on the projects that successfully launched the ICOs in 2018 and on the way in which the data have changed compared to the previous year.
2018 Crypto Market Dynamics and Crypto Exchange
The report has squeezed the numbers of the last few years in sharp decline in prices observed in most cryptographic activities and has estimated that 78.85% of the total will fall on the total decrease in cryptocurrency market capitalization in 2018. This was based on first 30 cryptocurrencies for market capitalization.
The document, however, said that despite the recession, trade volumes remained consistent throughout 2018. This was explained by the increase in the number of exchanges and exchanges that carry out paid extraction activities.
Particular emphasis was placed on the serious decline in total capitalization at the end of November, before the slight recovery in mid-December. Indeed, the total loss of value in Q4 alone was assessed at 44.25% according to the document. However, Q4 presumably saw a slight increase in trading volumes.
CoinGecko gave a rundown on the 2018 yields of the Top 5 cryptocurrencies, which recorded all negative returns. According to the numbers presented by the research, Bitcoin Cash proved to be the currency with the highest losses with a loss of 93% of its market valuation.
On the other hand, the price of Bitcoin has decreased by 73%, Ether of 82%, Ripple's XRP of 84% and EOS (the most volatile currency among the top 5 cryptographic assets) decreased by 66%. Furthermore, the dominance of Bitcoin has increased from 40% at the beginning of 2018 to 55% by December 31st.
It is interesting to note that the controversial stable currency Tether has closed the year as the seventh cryptographic resource.
In fact, the document reported a significant increase in stable currencies that included it in the list of the first 100 coins.
Under the chapter Crypto Exchanges, and based on the volumes reported by the exchanges themselves, CoinGecko provided a list of the 30 best exchanges traded with average trading volumes. Bithumb, ZB.com and Binance are at the top of the list while the Purcow exchange has been ranked 30th.
A closer look at the recorded trade volumes revealed that the increase and decrease in trans-fee mining exchanges favored the market around the third quarter of 2018 when these exchanges were first introduced and gained popularity reaching 60% of the total volume of trade up to Q4.
Major events that influence the market in 2018
The report provides an overview of the major events that had far-reaching consequences on the market in 2018 and published a complete list of such events and related news articles in the Appendix section.
The incidents were split between Global News and Regulatory Headlines, where CoinGecko produced an in-depth report on most of what happened in the market during the last year.
The document organized the hacks and theft incidents in 2018 in a timeline of "encrypted thefts. "It gave an estimated $ 867.45 million in lost funds According to the data reported, total losses in 2018 alone represent more than 50% of all losses recorded in previous years combined (total losses from"cryptographic initiation": $ 1.516 billion)
Researching the ICO Landscape, CoinGecko reported a huge decline of 67.91% in "Medium token return"Among the 943 projects that successfully completed their ICO fundraising.
In fact, in 2018, a total of 1941 projects attempted to launch an ICO in 2017 compared to 913 in 2017, with a slightly better success rate of 48.58% in 2018 (47.65% in 2017). The total amount collected from these projects was calculated at 16.5 billion, 3 times more than in the previous year (5.6 billion in 2017).
The report states that achieving the hard cap proved particularly difficult for most ICO projects in 2018. In fact, the percentage of projects that completed their bid and reached their capitalization fell from 53, 32% at the beginning of the year at 10.42% in December 2018.
The document explained the reasons behind this as a result of a worsening of investment sentiment, an increase in government regulations that targeted ICO's offers and the sharp fall in Bitcoin and Ether prices.
2018: The year of stable currencies
The document defined a stable currency as a digital resource with the objective of offering price stability to the market by reflecting the value of legal currencies or other physical assets / commodities. Indeed, by mitigating the volatility of cryptocurrencies, stable currencies could represent an excellent means of value exchange.
CoinGecko reported that the top 5 stable currencies by market capitalization are all linked to the value in US dollars. Furthermore, 2018 was the year in which four new regulated stable coins were launched, all of which recorded steady growth and were able to acquire market shares from Tether.
Cash Split, Dapps, security tokens and other Bitcoin segments
A section of the report was dedicated to the events that preceded the subdivision of Bitcoin Cash into Bitcoin Cash ABC and Bitcoin SV (Bitcoin Satoshi Vision), and that has attracted the market in weeks of sharp price falls and rampant controversy.
The technical differences between Bitcoin Cash ABC and Bitcoin SV have been detailed in the appendix and have been compared prices, trading volumes and hash rates of the network.
The next chapters provided important information on the number of Dapps developed per platform (Ethereum, EOS, TRON and Steem) in 2018, dominance of the market by the Dapp category and the key events that occurred in 2018 and influenced the four main ones agreements and smart platforms.
Ethereum has been listed as the leading platform with the highest number of Active Dapps (1045) and mainet portfolios (over 51 million unique portfolios).
The remaining sections of the document focused on the increase of security tokens and the benefits it could bring to the market, as well as on the rules that could be applied to this new form of start-up fund-raising in order to protect both projects and users.
The significant growth of the masternode and masternode currencies, despite a sharp decline in overall value, was also discussed in the report. Indeed, the total market capitalization of the masternode currencies declined from $ 12.5 billion in the first of January to $ 530 million by December 31st.
The last chapter discussed the ecosystem of non-fugitive tokens and the growth recorded in the number of active addresses and emerging communities.
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