Circle research indicates that with the hype of the ICO market becoming a distant memory and Dapps development strong, a market trend reversal is possible in 2019 with stablecoins, security tokens, and institutional crypto leading the recovery.
These findings were released in a retrospective report examining and reflecting on the major achievements, events, performance, and activities of cryptocurrency in 2018.
The report reveals that Bitcoin profited from altcoin drops in value in 2018, gaining a 50% dominance as a result. Its fees, along with those of Ethereum, dropped by 90% over the course of the year. The report also showed how ICO activity reduced in the second half of 2018 due to increased regulation, putting further downward pressure on the cryptocurrency market.
Looking ahead to 2019, the report points out that stablecoins, security tokens, and institutional crypto by providing the solution of real-world problems and adding more certainty to the crypto space as a whole. Part of the problem in 2018, according to Circle, was that the kind of projects being invested in had no real-world impact but where being invested in for short-term financial gain.
It cites this factor as leading to the market crash of 2018 which actually lead to the demise of many worthwhile projects along with solid projections with strong foundations and good teams behind them. However, it is some of these more worthwhile projects which the report sees as re-emerging in 2019.
The company backed global exchange Poloniex and USDC stablecoin, and was the first virtual currency company to be approved by the British government and the first to receive a Bitlicence from New York State in 2015.
Follow BitcoinNews.com on Twitter: @bitcoinnewscom
Telegram Alerts from BitcoinNews.com: https://t.me/bconews
Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.
Image Courtesy: Pixabay