Crypto Market Insights: CoinGecko Publishes Its Quarterly Report For Q2 2019

Crypto Market Insights: CoinGecko Publishes Its Quarterly Report For Q2 2019

                                    Crypto Market Insights: CoinGecko Publishes Its Quarterly Report for Q2 2019

CoinGecko, a leading cryptocurrency aggregator,

has published its 2019 Q2 Cryptocurrency Report. The 46-page report gives a comprehensive overview of the state of the crypto assets market and key events that took place in the second quarter of this year. Commenting on the report, Bobby Ong,

co-founder of CoinGecko reiterated that:

“Crypto summer is undeniably upon us as we see the industry enter the mainstream consciousness again, in part due to Facebook’s recent announcement of Libra. The release of the CoinGecko Trust Score during Consensus New York has been met with a positive response which emboldens our resolve to power our users with richer data to make better-informed decisions.”

The Second Quarter of 2019 saw a massive 125 percent increase in the overall crypto market capitalization as crypto winter gave way to the bullish summer. Notably, king bitcoin led the gainers’ table with 165 percent from $4,103 to $10,888, with a market dominance of 66 percent at press time.

Crypto Exchanges

The crypto trading platforms and exchanges have also grown significantly. A total of 302 were added in the last 18 months throughout CoinGecko’s 5-year history. Hackers have also improved their game, with top exchanges like Binance also getting hit by the rogue actors. Due to an increase in demand for more secure trading venues, decentralized exchanges (DEX) have started gaining significant traction.

CoinGecko’s Trust Score Explained

The Trust Score algorithm was built to present CoinGecko users with normalized, accurate trading volume data based on exchange traffic statistics from Similar Web and in-depth order book data. CoinGecko’s Trust Score currently comprises of two divisions: Normalized Volume and Trading Tickers.

(1) Normalized Volume according to their Web Traffic statistics via Similar Web.

(2) Trading Tickers takes into account order book spread, depth and more to determine their liquidity.

Lightning Network Gaining Adoption:

The report also talks about the development of the Lightning Network, Bitcoin’s layer-2 scaling solution. The Lightning Network’s overall capacity grew by 87 percent to over 1,100 BTC, while its node count doubled to 4,576 nodes at the end of Q2 2019.

About CoinGecko

CoinGecko’s primary objective is to provide a 360-degree overview of the crypto markets, providing users with the right information they need to succeed in the super volatile world of cryptocurrencies.

Article Produced By
News Desk

Crypto News at its finest from the fintech experts at ZyCrypto. Reach Out Via: News.Desk

Related articles

Report: ICOs Raised 118 Million in Q1 2019 Over 58 Times Less Than in Q1 2018

Report: ICOs Raised $118 Million in Q1 2019, Over 58 Times Less Than in Q1 2018              About $118 million has been raised via initial coin offerings (ICOs) in Q1 of 2019, over 58 times less than $6.9 billion, the amount raised during the same period in 2018, the Wall Street Journal (WSJ) reports on […]

Learn More

What’s holding Bitcoin back business or consumers?

What’s holding Bitcoin back – business or consumers? Though Bitcoin started 2020 with a bang, it’s worth taking the start of a new decade to reflect on the state of the original cryptocurrency. Doing that, we can really only draw one conclusion: it has failed to live up to the hype. Don’t get me wrong. […]

Learn More

Measuring The True Impact Of The Blockchain

Measuring The True Impact Of The Blockchain Why Chasing Bitcoin Is Not: What Globalcoin Really Means for Crypto (2019) Tokenisation to be expected as one of the main trends in 2019 Can Blockchain change the way we shop online One of the main trends of 2019 is expected to be tokenisation. This can be anything […]

Learn More

Leave a Reply

Your email address will not be published. Required fields are marked *