The “State of Blockchain 2018” report has been released by CoinDesk, expressing out and giving insight on the market trends and the development of the crypto-market in general while introducing parallel what the enthusiasts preferences are.
Analysis and reports of the kind do give traders, investors and developers major data and information that would impact the next step and decision they would take that are conclude on how the market is moving right now.
Despite the negative opinions expressed by big representatives of traditional banks and financial firms, numbers look very promising for those involved in the blockchain world.
The leader of digital currencies and where it all started: Bitcoin in 2017 delivered a 1278 percent year-to date return with the following coins going over 700 percent. The mentioned numbers surpass any normal traditional market that averages max like 23 percent.
However, despite the fact that BTC is the leader when it comes to value storage, Ethereum riding the rising train towards being acknowledged as the Network Leader in the ecosystem with most transactions, duplicating its numbers against bitcoin. For the last quarter of 2017 Ethereum had 589,171 Tx’s and Bitcoin had 319,085. This is the result of low transactions, rapid block generation, and the rise of Smart-Contracts ERC20 as well as the credibility and adoption of Dapps.
A more positive feeling is surrounding Ethereum and its network as 93.7 percent of volunteers that were surveyed had much higher expectation when it comes to its token price against the US Dollar, while only 87.3 percent had the same standpoint for Bitcoin. The figures show a positive outlook for the main cryptocurrencies listed on the report: BTC, ETH, BCH, ZEC, XMR, XRP. [Going back the being-bubble and not being a bubble discussion – 47 percent believe Bitcoin is a bubble].
From the numbers above, it is easy to conclude that while most think of Bitcoin only as an asset of immutable value, Ethereum is the one to go when it comes the structure as a network, providing protocols for future developments that increase the confidence in Ethereum surpassing Bitcoin – being planned out to be used in more projects and activities.
Very hope-giving and interesting to know is that data that the report delivered when it comes to purchasing cryptocurrencies. Around 81 percent of investors and traders did not go into debt to invest, while over 50 of those that actually, have already paid back the debt. Also, 94% of the subjects check prices at least every day which is a sign of the interest that the community have on bitcoin and altcoins.