Bitcoin Global News (BGN)
July 25, 2018 -- ADVFN Crypto NewsWire -- CoinDesk's Q2 2018 State of Blockchain brings together the key trends, data and events of Q2 2018 in over 100 slides. The report also includes results of a 60+ question sentiment survey.
The major blockchains racked up negative market indicators for a second straight quarter. Most of these downtrends were around exchange activity where volumes were down for most trade pairs. However, outside of the cryptocurrency market trends, use cases and developer maturation filled the past three months. Improvements are being put to work for both Bitcoin (Liquid Network) and Ethereum (Raiden). Major corporations like IBM, Walmart and international banks continue to submit patents and implement related technology.
BTC miner revenues -22%, average fees -19%
Bitcoin hashrate grew by 26% (decreased transaction speeds)
ICO funding neared $19 billion, average ICO $39 million
Majority of survey respondents think price declines were caused by shorts and rebounds from over-speculation
Of major coins. EOS was by far the stand out +44%. The worst performing coins were LTC -32% and XMR -29%.
In depth analysis:
Distributed ledger technology
ICOs vs. VCs
The report highlights the disparity between the top 4 ICOs and the top 4 traditional VC funding rounds in Q2. EOS ($4.2B) finally finished their ICO and launched the mainnet. The blockchain competitor to Youtube TaTaTu ($575M) was funded by major investors like members of the Bacardi family. Basis ($133M) saw great interest as stablecoin based on a process of creating and removing coins to induce or remove scarcity for a consistent price. Orbs ($118M) is a dapp on the Ethereum network that is focused on the ability to scale to “consumer scale” transaction frequency and value.
In contrast 4 projects related to industry received significantly less funding in total, but is primarily because of EOS. Bitmain ($300M) is a Chinese based company that created the first consumer-grade ASIC miner. Circle ($110M) introduced a platform for investing in cryptocurrencies. Pintec ($103M) provides fintech services including blockchain based applications. Paxos ($65M) offers blockchain based financial services and operates the cryptocurrency exchange itBit.
By: BGN Editorial Staff