RATE Group | Bitcoin and Ethereum, Permissionless Money and Finance Dominate Crypto
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Bitcoin and Ethereum, Permissionless Money and Finance Dominate Crypto

05 Feb Bitcoin and Ethereum, Permissionless Money and Finance Dominate Crypto

Posted at 20:15h in Bitcoin News by

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Two trends are pushing crypto forward—Bitcoin and its promise of permissionless money, and Ethereum and its promise of permissionless finance, said the State of Crypto report. Both the store-of-value and DeFi narratives have the potential to create trillions in value.

Market Activity Picking Up Steam

Cryptocurrencies rebounded during the first half of 2019 after a lackluster 2018. Money was lost, but investor sentiment was by no means crippled.

Liquidity saw a healthy uptick as the broader market picked up from biennial lows. The bull rally in 2019 brought liquidity to centralized exchanges like Binance and Bitfinex. Nearly 1.5 million BTC, or 8.2% of circulating supply, was held in the custody of centralized exchanges on behalf of customers.

Total BTC under exchange custody chart
Source: State of Adoption report

Going forward, exchanges may have to provide value-add services to establish sustainable profits. Proof-of-work (PoW) coins outperformed their proof-of-stake (PoS) counterparts that ended the year on a weak note….

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