Coinspeaker and ICOBox came together to work on offering readers an overview of last year’s market changes in the cryptocurrency and ICO fields. This was meant to focus on an analysis of the general cryptocurrencies as well as digital assets for the quarterly and yearly periods.
Cryptocurrency ICO Market Growth
Cryptocurrency market saw significant growth, especially during November and December, where market capitalization burst over $650 billion before a slight backdrop. The boost can be attributed to Bitcoins growth by almost $220 billion, reaching $234.7 billion, up from $15 billion. Altcoins were also on the rise, with a soaring capitalization hitting $376.2 billion from $2.2 billion.
The coming of competitor cryptocurrencies, also known as altcoins, dealt bitcoin a significant blow in the market, reducing its dominance from 87.5% to 38.6%. Nevertheless, BTC’s price went high by a factor of 14, rising to $14,112 from the previous $964. The total number of cryptocurrencies, as well as digital assets on exchanges, also recorded an impressive increase, hitting 1,335, up from 617.
Vigorous Market Movements
Apparently, the whole concept of cryptocurrency market saw a reshuffle through 2017, which saw a stiff competition among Ethereum, Ripple and Bitcoin Cash for the three consecutive positions from Bitcoin’s lead. And the action was not only raging on the cryptocurrencies competition alone, but also the trading market had a fair share of vigorous movements too.
It is clear that before the start of Bitcoin futures trading, there was a bulk purchase on the cryptocurrency, meant to provide room for a price adjustment. These two aspects, the futures, and the valuable financial assets went a long way to enhancing Bitcoin’s market and winning it more attention and demand. This gave the cryptocurrency high liquidity and attracted readiness for traders waiting for its rapid change so they could make the most of long-term exchange rate changes.
Major Market Movers
It should be remembered, however, that the cryptocurrency market comprises of individual traders as well as major institutional players. These institutional buyers pack the potential to disrupt the coins' market since they can easily lead to new mechanisms known as risk hedging. Then there come fast bots, which are made to use high tech trading algorithms to carry out transactions in a matter of microseconds, thus adding to the influence of financial funds.
One of the major players stepping into the game is Goldman Sachs, which is the world’s leading finance and investment companies and is helping clients purchase and sell Bitcoin futures so far. It is expected that financial derivatives will continue to increase on the cryptocurrency market, attracting large funds and calling for its regulation aspect to feature clear-cut rules.
The Year Of Cryptocurrencies And Project Performance
Last year has been dubbed as the year of cryptocurrencies by most media, thanks to the growth of the top ten cryptocurrencies to hit new highs. The performance indicator for the tokens for the projects involving all these top-rating types is within the range of 0.73x to 101.85x. Among the most successful ICOs is ChronoBank project regarding the number of funds collected.
The one that recorded the highest success regarding the exchange listings was Augmentors project with a current price ratio for the token price sale hitting 101.85X.
There has been a lot happening around the world of cryptocurrencies. You can jump into the action and have a share of the benefits it offers. Much is at stake, and perhaps the best time to step in is now.