State of the Blockchain: Q2

Avi Felman
Aug 15, 2018 · 10 min read

Market conditions

Market capitalization: TMC declined by ~$3.12bn amidst some volatility, as the markets retraced the gains seen in April and early May.

Volatility over Time (Data from the BitMEX Volatility Index)
Correlations of Specific Alt Coins vs BTC
  • The Ledger Group believes that over time, Bitcoin dominance will decrease due to increased competition in the cryptocurrency space. We view Bitcoin specific dominance unlikely to hold above 50% over the next year.

Infrastructure

Mining: Blockchain mining infrastructure growth slowed relative to Q1 (47% growth), but remained robust, with BTC hash rate closing the quarter up 26%. Mining revenue share splits looked similar to 1Q18, with BTC and ETH dominating other major tokens.

Bitcoin Volume over Time

Ledger Capital

An investment and advisory firm focusing on the cryptocurrency and blockchain space

Avi Felman

Written by

WashU ’17. Crypto enthusiast. Builder of three multi dollar companies @BearStudios, @VentureFocus, @LedgerCapital. Telegram @delta_neutral

Ledger Capital

An investment and advisory firm focusing on the cryptocurrency and blockchain space