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A bearish trend did not prevent the cryptocurrency market from growing

01/16/2019
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The report of the research group Diar can be called sensational. Despite the fall in cryptocurrency prices, the turnover of trading floors increased in dollar terms. Although some redistribution of forces took place in the market.

The cryptocurrency market is growing

To study the objective, the company Diar estimated turnover in dollar terms. As a result, it was found that the maximum increase in turnover was shown by the Kraken cryptocurrency trading floor, with a figure of 193%. The turnover on Bitfinex and Coinbase has slightly increased, by 21% and 50%, respectively.

Coinbase can be called a conditional outsider, where the increase was only 14.1%. At the same time, researchers note a high probability of a decline in indicators in 2019, which has several reasons:

  • the transition of cryptocurrency from the accumulation stage to the consolidation phase;
  • continuation of the bearish trend;
  • massive opening of platforms for OTC trading.

Already, three major cryptoexchanges have announced a parallel launch of over-the-counter platforms. This is Coinbase, Bittrex, and Poloniex. As another Diar study showed earlier, it is it that attracts more institutional investors.

Figures from the world of mining

Significantly redistribution of forces occurred in the mining cryptocurrency. Here the Chinese giant, the manufacturer of ASICs Bitmain, lost its lead. ViaBTC pool created by him accounted for more than 53% of the network's hashrate. By the end of 2018, this figure fell to 39%.

In general, over the period, miners received a total income of about $ 5.8 billion. Moreover, $ 1.2 billion was mined only in January 2018, but in December the amount dropped to $ 210 million.

These figures indicate that the industry is going through difficult times. But at the same time, there are positive changes. Decentralization has increased, which allows us to stabilize the industry and even eliminate the theoretical probability of a 51% attack.

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