Aug 11, 2020
InsightLab Report, August 2020
- Existing industry collapse due to COVID-19, online industry prominence
- Secure payment and distributed finance spotlight
- Upbit BTC market volume increase in the second half of 2020, Alt decentralized financial market is stillin its infancy
COVID-19 has had a crisis for many foundations and businesses, but not everyone. We identified which companies showed remarkable growth. As a result of checking the growth rate by period through Upbit, the number one digital asset exchange in Korea.
In the case of Kyber Network (KNC), with the most remarkable growth rate for six months, the Katalyst protocol was updated, and the Mainnet launched. In 2020, It leads the Defi (defiance) topic and staking, and succeeded in depositing $16.7 million in one day. In the case of Kyber Network Coin, KNC, it has increased by more than 300% over six months.
The virtual asset with the highest growth rate for three months is TFUEL, which serves as a “gas” for micropayment of video segments and distribution of smart contracts within the Mainnet of THETA. The Thetafuel incinerates when it uses. Thetafuel was distributed to THETA holders at a ratio of 1:5 at the time of issuance and can obtain by building a node with THETA, the own coin of THETA.
The virtual asset with the highest growth rate for one month is the mainframe (MFT), which securely stores data using blockchain technology. The mainframe can save its data by switching to a fee while disconnecting the user’s node. It can see as a means of preventing personal content tracking. It observed that the reason for this year’s short-term surge is compensation through loan-related products and distributed finance.
In the first half of 2020, COVID-19 prevented them from going out.
The prices of related coins and tokens in the associated industries increased significantly due to the industry’s growth related to home online content viewing and simple payment.
Insight Lab is a significant trend in the second half of 2020, △decentralized financial management △exchange asset withdrawal △BTC growth by the exchange.
It predicted that the prices of virtual assets related to foundations and projects that are promulgating decentralized finance would increase. The value of additional paid holdings, in addition to the entrusted virtual assets, is expected to be necessary. Meanwhile, digital assets’ importance increased a lot from July to August from the primary industry’s inflows. The second half of the year expect to reflect a large amount of price reflection, as major virtual assets withdrawals confirm to be significant.
From the Insight Lab is through the successful listing of Spendcoin (SPND) on the Upbit BTC market in the KRW market, They revealed that he expects to continue to raise expectations for the BTC market in the second half of the future.
Insight Lab, which signed a content contract with the exchange Upbit (hereinafter referred to as Upbit), introduced Block Insight, a blockchain news curation app, as its app. Block Insight has been downloaded by more than 30,000 people in a week and is working with online media companies.
