The CoinGecko Cryptocurrency Report 🦎 Market Data. Analysis. Crowdsourced Insights.
coingecko

The CoinGecko Cryptocurrency Report 🦎 Market Data. Analysis. Crowdsourced Insights.


A few weeks ago, I published my post CoinGecko 🦎 A Transparent Tool To Track Cryptocurrencies explaining what makes CoinGecko a transparent tool for an in-depth analysis of the crypto market.

CoinGecko is producing quarterly reports on the state of the cryptocurrency industry. These quarterly reports provide valuable insights into key issues of the whole cryptocurrency industry.Β 

The 2020 Q1 Cryptocurrency Report provides an overview of the current cryptocurrency market and is out now.

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You can get your own copy of the cryptocurrency report for free here on CoinGecko.

In this way, you are able to kickstart your portfolio with the latest crypto market trends. 😎

I grabbed my own copy of the cryptocurrency report, I read it and here are some valuable insights.

Market Data. Analysis. Crowdsourced Insights.

The CoinGecko 2020 Q1 Cryptocurrency Report provides an overview of the current cryptocurrency market:

  • Market Dynamics (Spot)
  • Stablecoins
  • Crypto Derivatives
  • Crypto Exchanges
  • Traditional Markets
  • Decentralized Finance (DeFi)

Q1 2020 has been a quarter that we most definitely want to erase from memory. Not only was the world ravaged by the COVID-19 pandemic, we saw massive losses in the stock and crypto market.

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Market Dynamics (Spot)

Bitcoin (BTC), as well as many other cryptocurrencies, fell by over 40% in a single day. Nevertheless, since the crypto market had a relatively good start to the year, the market only shrank by a marginal 5% as Q1 2020 closed.

Bitcoin SV (BSV) was surprisingly the best performer in Q1 with a 70% gain. Bitcoin (BTC) was the biggest loser, followed closely by XRP (XRP).

Stablecoins

The stablecoins supply has increased by 32.1% to $7.5 billion in Q1. Many traders found a safe heaven in stablecoins, they are buying and holding them to weather out the storm. Tether (USDT) continues to dominate the stablecoin market in Q1.

Crypto Derivatives & Crypto Exchanges

Binance gained significant market share (+15.1%) over Q1 in terms of trading volume for Bitcoin (BTC) perpetual contracts, ending the quarter as the market leader.

Binance dominates 50-75% of real spot trading volume. BitMEX ended Q1 with a hefty -10.2% loss in open interest dominance but still dominates 18.4% nearly half the market with 47% dominance.

The CoinGecko cryptocurrency report also analyses the top 7 exchange tokens. Kyber Network (KNC) was the best performer with a 136% gain in Q1.

Traditional Markets

All asset classes had initial gains at the start of Q1 2020 but fell as the COVID pandemic has hit the market.

Bitcoin (BTC) maintains a consistent positive correlation with Gold. Gold is known as a safe haven during past major crises. However, the current correlation suggests it may not be this time. Markets around the world declined in Q1 except for Ethereum which gained by 1.4%.

Decentralized Finance (DeFi)

You should DeFinitely read the chapter about decentralized Finance.

In March 2020, CoinGecko published the world’s first Decentralized Finance (DeFi) book. It contains an overview of the DeFi ecosystem with step-by-step guides in using the various popular DeFi apps. You can get your own copy of the "How To DeFi" book for free here on CoinGecko.

CoinGecko also ran a Decentralized Finance (DeFi) survey from 19 - 29 March to members of the crypto community.

90% of those who have traded cryptocurrency recently are aware of DeFi. 54% of crypto users who are familiar with DeFi would go completely bankless. Not trusting the banking system as the main reason for the will to go completely bankless.

I hope I could provide you with some interesting and helpful information about CoinGecko and the latest crypto market trends. Please make sure to follow me here on publish0x to stay up-to-date.

For more information about the latest crypto trends, you can download the cryptocurrency report for free here on CoinGecko.

Thank you guys for reading, liking, commentating and tipping πŸ‘

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