A look at the Blockchain Industry through real data
A lot of separate moving parts involved in the blockchain allow crypto to run properly. We have coders, miners, and traders to name a few. Because of its heavy involvement with every modern technology we have today, it’s generated a lot of data. I’ve attempted to piece together a number of interesting statistics that can present how the industry performed in 2018.
Technical Activity
It’s no surprise that bitcoin trading volume dropped significantly after the 2018 crypto crash. However, the charts displayed above show the trading volume in the following countries: Colombia, India, Peru, and Venezuela.
2018 was the year many believed Ethereum would end up holding the crypto market cap dominance. Yet, Ethereum and the dApp it supports did not even come close to such expectations. This graph exhibits the total market cap of the top 10 cryptocurrencies with Bitcoin maintaining its dominance. Bitcoin was at its lowest at 32.5% in January 2018.
This graph displays the price of bitcoin versus the volatility during the period. For those who have been following the market, the middle of the year was extremely quiet with slight price jumps roughly every two weeks. Here, we clearly see that the volatility was on the decline until November 15th, the date of the Bitcoin Cash fork event.
The media does not provide enough attention to the developers grinding out the code that produces the foundation of all these projects. Undeniably, they are ones who work on the necessary improvements for the entire industry. This list provides some numbers to give an idea of how active a project is.
Another turbulent event for blockchain was when the exchange rate dropped significantly — forcing many mining farms to shut down completely because of the unprofitability. One of the most well-known mining company, Bitmain, has had its own share of issues in keeping their mining business afloat. However, this chart shows that the hashrate has doubled during 2018.
Overall Interest
This is a representation of the monthly amount of BTC that was transacted during 2018. It is estimated that a total of $410 billion was recorded, which comes out $780,000 per minute.
A chart that represents the number of users visiting Coinmarketcap.com, the leading site that presents the most up-to-date average prices for all coins across all exchanges. According to Alexa, the Amazon data site, the United States is ranked 361 out of 419 countries.
This graph represents the rate of new subscribers on the bitcoin subreddit. Reddit is a popular social media platform that many crypto enthusiasts use. During 2018, the number of users grew by 380,000 more followers — a 61% growth.
Here’s a pictograph of the level of interest from each country on bitcoin. It’s interesting to point out that this year, the top searches come from South Africa and Ghana compared to the previous year, which was Australia and Singapore.
Here’s a list of $ amount of funds raised for ICO projects. 2018 shows a staggering amount raised compared to prior years despite the market conditions. It’s a good sign to expect from projects in 2019 with the promised products from these investments.
