Quarterly Report: Bitcoin Shares Higher Web Search Than Stock

The surging price of bitcoin boosts the growth of cryptocurrency industry, according to cryptocurrency research firm CoinGecko’s latest report.

As the cryptocurrency wakes up, the market value of cryptocurrency has increased by about $200 billion in the second quarter of 2019, an increase of 125.1% over the previous quarter. Besides, the volume of cryptocurrency transactions has doubled from the previous quarter.

Bitcoin still dominates 65% share of the cryptocurrency market. Bitcoin soared from $4,103 to $10,888, up 165%, and return of Ethereum, Litecoin and bitcoin cash also exceeded 100%. Among top 5 coins XRP underperformed with only 28% gains. Bitcoin overall search volume has exceeds stocks on Google by a small margin.

In the first half of 2019, WayKiChain, Lambda, PDATA TOKEN, BLOCK CLOUD and Top Network of Huobi all raised more than $10 million, accounting for 31% of all IEO projects. CoinGecko’s report also points out that the IEO project seems to have a ceiling of $20 million. WayKiChain, with the largest fundraising of the five projects has only $18.5 million.

Chart of Fund-Raising Proportion of IEO Projects in the First Half of 2019

In addition, in the first half of 2019, half of the funds raised through IEO belonged to five major exchanges: Gate, Binance, Okex, Huobi and Bittrex. Among them, Gate launched eight IEO projects with more than $45 million raised.

Bitforex gains 37% return on investment of eight IEO projects were launched in the first half of the year. The return on investment of ZBG and ZB s which only started one IEO project was as high as 820.23% and 553.15%, respectively.

In the first half of 2019, the number of lightning network nodes nearly doubled and the capacity increased by 87%. In addition, the number of bitcoins locked in lightning networks has nearly doubled since the beginning of this year. The only decline was in June, when Bitcoin rose to $12,000 and some users withdrew and sold it.

The number of DAPP increased by 484 in the second quarter of 2019, with more than 1 million active participants and more than $3 billion in DAPP transactions. Nearly half of the 1,460 active DAPPs run in Ethereum. And transaction volume of Dapp run in EOS and TRON reach over $1 billion.

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