The second quarter of 2019 was great for the cryptocurrency industry, with new funding models, increased liquidity and price surges being among the landmark events. Facebook’s Libra crypto project also dominated the crypto universe as Bitcoin SV (BSV) outperformed other major cryptos. This is according to the latest research by Boston-based crypto firm Circle.
The quarter was marked by the continued maturing of the crypto market, with new institutional investors coming on board and existing ones developing new products and services. In May, reports emerged that Fidelity Digital Assets would begin trading SegWitCoin (BTC) for select clients. ErisX received a license to launch regulated futures trading, with Ernst & Young (EY) releasing Nightfall zero knowledge proof technology to introduce privacy to public blockchains.
A report conducted by Fidelity further revealed that 47% of institutional investors viewed cryptos as having a place in their investment portfolio.
However, it was Facebook that caught the world by storm after announcing that it intended to launch its own crypto project. The Libra project sparked global debate, with lawmakers from the U.S. and many other countries globally questioning Facebook’s ability to ensure security and privacy. The Libra Association currently has 28 members including Visa and PayPal, but with each passing day, Facebook’s dream seems to be fading away.
The quarter also saw BSV outperform all the other major cryptocurrencies and finish only behind Chainlink as the best performing cryptos. BSV gained 136% in the second quarter, with its value surging after Dr. Craig Wright filed a copyright registration for the Bitcoin whitepaper and the original 2009 Bitcoin code back in May. Chainlink surged over 550% after a report revealed that it had partnered with Google Cloud to help share BigQuery data with Ethereum dapps.