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Surprising annual balance: trading volume on the crypto market has increased by almost 600% in the last 12 months

Surprising annual balance: trading volume on the crypto market has increased by almost 600% in the last 12 months

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Crypto data platform CoinGecko has published its annual report, which covers the most important technological and economic developments of 2019 and provides insights into the market through analysts and industry insiders. One of the most striking statistics: Bitcoin’s trading volume increased by 600% in 2019.

CoinGecko, the cryptocurrency data platform that provides market capitalization, trading volume, and code development data, has released its annual crypto report. The CoinGecko annual report for 2019 includes details on developments in technology, market economy and psychology – and information on what insiders and market leaders believe will happen in 2020.

The market has grown steadily in terms of market capitalization and trading volume, and the report also provides some other optimistic information.

The overall market cap of the market rose 44.1%, gained $ 60 billion over the course of the year and ended the year with $ 180 billion. According to the report, trading volume had a much better year, increasing almost 600% – a shocking fact, with over $ 50 billion traded on average at the end of the year.

Not surprisingly, Bitcoin posted the best result in 2019, rising 95% over the year, despite showing massive volatility in a range of $ 3,500 to $ 13,500. For comparison: Gold $ 19, the S&P 500 29% and silver 15.6%.

As for the top altcoins, a notable statistic is the 45% decline in XRP over the year. Ethereum saw a slight decline in value at 2%, while Bitcoin Cash (BCH) and Litecoin (LTC) gained 38% and 37%, respectively.

DeFi is highlighted in the CoinGecko report

CoinGecko also describes the effects of decentralized financing (DeFi) on the market. We have already reported on developments in DeFi, including exponential investment growth and the dominance of Ethereum-based DApps.

DeFi is increasingly seen as the cornerstone of the market. The report notes that DeFi plays a role in financing banking transactions without banks and in increasing the efficiency of the money market. It also highlights the $ 160 million growth in the sector and the predominance of credit platforms like Maker.

However, the term is broad. It is used to categorize multiple financial services under one roof. The DeFi room includes stablecoins, derivatives, decentralized exchanges and credit services. The maker platform, which consists of the governance crypto currency token MKR and the stablecoin DAI, is the largest unit in the defi area with around $ 440 million.

Industry insiders have become cautious

Industry insiders and experts have been cautious about 2020, with many believing that 2020 will be a year of diverse developments on different fronts. A common prediction is the growth of DeFi, with CoinFLEX CEO Mark Lamb convinced that the derivative markets will grow:

“In 2020, the area of ​​trading and investment opportunities will skyrocket as derivative volumes will increase by an order of magnitude. The basis will remain extremely volatile, and this year we will experience two periods of extreme expansion that will bring fresh capital to the derivatives markets.”

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