1.6tn BTC transactions recorded in past two years
16 Dec 2019
Bitcoin and XRP were the largest virtual assets in the world going into this year, says a new report. However, although Bitcoin still dominates the crypto market, Ethereum surpassed XRP on the crypto charts.
Throughout 2019, Bitcoin and Ethereum have scaled the collective market by close to $75 billion from 1 January to 30 November, reports AMB Crypto.
Findings by Blockchain Capital show that there were major highs in the crypto market this year in terms of Bitcoin, with Ethereum also registering robust fundamentals.
The report stated that Bitcoin and Ethereum’s market valuations were strongly oppressed over the second half of this year.
Nevertheless, both cryptocurrencies’ overall gains were positive.
When the report was compiled, Bitcoin was priced at $7255. The valuation of the world’s largest digital currency by market capitalisation was up by around 95% year-to-date, with Ethereum recording growth of more than 10%.
Although other digital assets such as BCH and Litecoin registered better performances than Ethereum in price terms, they fell behind when it came to market cap.
Furthermore, the top 10 crypto assets collectively made up for 76% of the total market cap at the end of last month. In addition, the top 10 coins only accounted for around 70% of last year’s market cap.
Binance’s token, BNB, topped the chart, says AMB Crypto, after scaling by over 150% this year.
In regard to Ethereum, the asset has enjoyed a lucrative year in regard to rising contract calls, with the crypto’s derivative market gaining progressive interest.
Plans for a transition to ETH 2.0 were announced, with a gradual movement over the next three to five years.
Moreover, Bitcoin’s hash rate recorded its all-time highest spike this year. It also recorded over $1 billion transactions each day. Out of the total 2 trillion transactions carried out since 2011, some 1.6 trillion were undertaken over the past two years.