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If 2018 was the ‘crypto winter’, 2019 is set to be the ‘crypto spring’ as the market is finally bouncing back. According to our latest report by cryptocurrency OTC trading brokerage HiveEx.com, the crypto winter has refused to let sentiment die, with innovation, funding, new launches and trading continuing to grow the market.
The HiveEx Cryptocurrency Landscape Report explores what happened in 2018 and the start of 2019. Let’s take a look at the key statistics of 2018.
2018 Cryptocurrency Statistics
We saw cryptocurrencies take a dramatic fall in 2018, opening with a total market capitalization on January 1 at $612.93 billion and closing the year off at $130.54 billion – a decline of 78.70%. The highest peak of market cap was on January 8, reaching $833.44 billion, and the lowest point was on December 16, when we saw market cap hit $102.09 billion.
Bitcoin (BTC) price dropped, leading overall market performance to fall by 72.60% in 2018. It started the year off at $13,657.23 per BTC and fell to $3,742.70 by the year’s end, according to the report.
Interestingly, more Bitcoin was estimated to have traded at the close of the year compared to the year’s open, which gave way to its increase in cryptocurrency market share dominance. The report estimates that 1.25 million bitcoins were traded on December 31, 2018 compared to 753.531 traded on January 1 – that’s 65.30% more. From this demand, Bitcoin’s strength grew its market share by 33.84% to 51.69% by December 31.
Even when taking into account wash trading in CoinMarketCap volumes, it still represents very real growth, which is significant for a bear market.
Despite the dip in value across the market,