Crypto Assets Surge 16.23% in Q1 With Gains for Bitcoin, Ethereum, Litecoin, EOS: CoinGecko Report

CoinGecko’s 48-page report gives an overview of the cryptoasset market in Q1. In the first quarter of 2019, total network value of all cryptoassets was up 16.23%.

Among the top five coins, most saw a positive increase in price with Litecoin and EOS seeing the best returns of 103% and 66% respectively. Bitcoin and Ethereum saw modest growth of 11% and 8% while XRP saw its price decline by 11%.

This quarter saw Ethereum claiming back its position as the second most valuable cryptoasset by network value. There were three new entrants to the top 30 list – Cosmos (ATOM), Basic Attention Token (BAT) and Crypto.com Chain (CRO).

Exchange-based tokens saw strong growth with OKEx’s OKB token and Binance Coin (BNB) being the largest gainers, gaining six and five places respectively. With the increase, Binance Coin (BNB) is now in the top 10 list ending the quarter in eighth position.

CoinGecko took a deep-dive into three major events that took place in January, February, and March for this quarter’s report.

January saw the launch of two new coins, Grin and Beam, which make use of a new privacy protocol called MimbleWimble. The launch of both these coins was highly anticipated as it represents a fundamental improvement to blockchain privacy and scalability.

Initial exchange offering (IEO) became a major topic of discussion for February. The IEO became popular after the wildly successful token sale of the BitTorrent (BTT) on Binance Launchpad. The successful BitTorrent IEO made other exchanges take notice and rush to start their respective IEOs.

That being said, it remains to be seen if the IEO trend can sustain. Looking at the return of the three Binance Launchpad IEOs in February, one can see that returns have been decreasing and that purchasers have been dumping the tokens immediately after they were listed on the market for trading.

March saw the launch of Cosmos (ATOM), a project that aims to solve blockchain interoperability, and CoinGecko spent some time going through the details of Cosmos in this report.

Alan Zibluk Markethive Founding Member