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The year 2018 was not as fortunate for the cryptocurrency market as 2017. On the one hand, due to the market downfall, dozens of cryptocurrencies lost in value. On the other – this crypto winter helped to crystallize more strict rules towards industry regulations, and also triggered to leave those market players who are not ready to interact with the emerging realities.
Changelly formed the ratings of the top-10 most popular crypto trading pairs along with the most sold cryptocurrencies and most bought cryptos of 2018. You are welcome to read this overview to find out what was this year like for the exchange service and its users. Hopefully, this overview will help you to make some useful conclusions or even to forecast your further behavior in the crypto field.
Just a small reminder: one of the key concepts of the cryptocurrency market is a Crypto Trading Pair. It is formed when you decide to exchange one crypto asset for another. Below are top-10 crypto trading pairs in 2018 according to Changelly crypto exchange service:
https://i.redd.it/dgqhaf6lz7r21.png
As you can see from the infographic, the first two places are shared between the BTC-ETH and ETH-BTC crypto trading pairs with the total exchange volume of 24.7% and 20.5% respectively. In the cryptocurrency market, all trading pairs usually contain these headliner currencies. This is explained by the fact that the crypto market participants keep their savings in BTC or ETH. Accordingly, when a person decides to buy cryptocurrency, which seems the most promising, he or she exchanges Bitcoin or Ethereum for the destination crypto, let’s say ABC. Thus, a crypto trading pair BTC-ABC or ETH-ABC is formed.
Another crypto project which turned to be the rookie of the year is XRP. Crypto trading pair BTC-XRP takes the third place in Changelly rating. Also, XRP is still on the 3rd position in the cryptocurrency market rank. XRP started 2018 at the mark of ~USD 3.00, and during the year the rate was waving between USD 0.2 and USD 1.00. After the winter’s cryptocurrency market boom the next biggest hype around XRP peaked in autumn 2018 when the XRP market cap increased twice from US$11 billion to US$22 billion.
However, there are more crypto assets worth paying attention to. Firstly, it’s the currencies which appeared as a result of a hard fork of the Bitcoin blockchain such as Litecoin. The virtual asset appeared as a result of BTC blockchain split in October 2011. However, the trading pair LTC-BTC takes the fourth stage in crypto pair rating and points the fact that in 2018 a vast amount of LTC holders preferred to exchange their LTC savings back to BTC.
The other trendy crypto of the last year is DogeCoin. The fifth position in the rating takes BTC-DOGE trading pair, which shows the opposite situation if to compare with LTC-BTC trading pair. So, which factors motivated hundreds of crypto enthusiasts to exchange their BTCs in favor of the Shiba Inu coin? The first price spike occurred on the edge of 2017 and 2018 which was entirely predictable in the context of crypto hype momentum. The coin’s price reached $0.017 in comparison to $0.001 in November 2017. The second spike happened on the edge of the August and September 2018, when the Dogecoin raised from its low of $0.0025 to almost $0.05. The below-mentioned factors became the moving force for DOGE price and value significant increase:
https://i.redd.it/c1ql74gqz7r21.png
Despite all the ups and downs of the market along the previous year, the pioneer cryptos didn’t change. Such giants like Bitcoin and Ethereum formed the entire industry in its roots, so along 2018 BTC and ETH were keeping the leading positions as the most sold and bought assets on the crypto market.
The fourth position goes to Monero or XMR with a total selling volume of 7.1%. As you probably know, Monero distinctive feature is total anonymity. On the one hand, this is the superpower of cryptocurrency which has been moving the blockchain industry forward from the very beginning. On the other hand, the time has shown that the abuse of anonymity became a disruptive power, following increased incidents of using Monero for money laundering. Thus, the decision to eliminate Monero from Changelly was motivated primarily by security reasons. As you can see from the diagram, Monero takes the 4th position in the top-10 most sold cryptos on Changelly even though the asset was switched off from the service in autumn 2018.
The last but not the least cryptocurrency in Top-10 most sold cryptocurrencies rating is USDT. The first stablecoin pegged to USD fiat currency caused quite a stir along 2018. A sharp drop in price occurred in the middle of October 2018. Anonymous attackers provoked the accident to increase the price of other cryptocurrencies.
There’s an interesting observation if to compare diagrams with the most sold and most bought crypto assets of 2018. In both cases, BTC and ETH took the 1st and the 2nd places respectively. However, along 2018 the trend to sell Bitcoin contrasted with the trend to buy Ethereum.
https://i.redd.it/7qyggmq008r21.png
The total value of sold BTC is 42.8% against 16.6% of sold ETH, while the chart of the most bought cryptocurrencies shows only 34.5% of BTC against 24.3% of ETH.
There is another prominent altcoin we haven’t mentioned yet. Bitcoin blockchain split made much noise back in 2017. As a result, the new cryptocurrency BCH was born. The hard fork took effect on 1 August 2017. In November 2018 Bitcoin Cash was hard forked again and split into Bitcoin Cash and Bitcoin SV. The confrontation of two communities surrounded the occasion. Following the network split, BCH market cap dropped dramatically. However, starting with the middle of December 2018, the market volume was partly compensated.
The fourth place in the most bought cryptocurrency rating takes Litecoin. Despite the descending LTC price trend along 2018, 8% of Changelly users took their chance on Litecoin. And as we can see now investment in LTC back in 2018 paid off at the beginning of 2019. As the Litecoin price increased almost three times from the beginning of the year.
To sum it up, let’s take a look at all the graphics once again. What do we see?
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The ongoing decline within the crypto market has been continued for an extended time. The explanation for this decline is that folks deposit cash into several projects that they are doing not apprehend in a very manner like the dot.com craze. folks began to invest cash by basic cognitive process that every project pays off within the rise of bitcoin and its derivatives. Within the following periods, the long run of this sector began to be mentioned once more as this wave of upswing allowed itself to fall. Several projects coming into the market with quite fancy words have suffered nice losses.
One of the foremost vital problems to think about once finance in crypto cash technologies is whether or not the project is actually possible. No one believes that the project can surface in several comes, together with groups. The overwhelming majority of the groups wish to urge enough share from this market and obtain out of the business. within the past, several comes that completed the sale of ico began to pay the funds collected from the users within the vacation places rather than advancing the water program. This has semiconductor diode to the decline in interest within the crypto market and people's skepticism on comes, because of the smart contracts that ordinarily opened freed from charge, the prices of the project are virtually negligible. Within the past, the folks we tend to know as the advisors solely demanded a high quantity of cash because of the looks of their names within the project.
The situation within the food and drinkable sector isn't completely different. not like what I say, this sector desires the blockchain sector. Blockchain technology is the most significant tool for keeping the required records within the long method that continues till the assembly and bottling of any product. #Volum is extremely necessary for decisive placement of the merchandise particularly within the agreements created between countries. Any product is made and passes through several stages until it involves their table. @Volum eliminates these stages and automates transactions with blockchain technology and provides nice benefits to users and corporations.
Benefits of Volum
Volum permits businesses to urge obviate paper wastage and build giant amounts of personnel savings. Businesses will order orders over the Volum system. These orders area unit recorded on smart contracts and within the event of any wrong or incomplete cases, the parties area unit entitled to assert rights.
From the time of bottling to the sale of beverages, dealing prices increase significantly. Enterprises will|which will|that may} communicate with shipping corporations via the apis can observe wherever their merchandise area unit. additionally, the client will keep the records of the past orders and therefore the financial gain and expense balances on the dashboard.
It's quite unfortunate that customs clearance of the origin of the products isn't totally far-famed. Several countries don't enable the introduction of unknown product into their countries. With the barcode technology developed by the Volum system, traces of every product are often seen. This method are often recorded at each stage from farmers to the market
The biggest downside of the drinks made as an oversized portion of glass bottles is that the deficiencies that occur throughout the transfer and counting on the seasonal conditions. With the Volum insurance system, users will keep records of the products they need and send these records to the underwriter through smart contracts. The amount is entered into an escrow contract before the products square measure loaded. just in case of losses, liquid corporations might collect these funds, particularly in a dearly-won product like aged wine or champagne, this example offers awesome benefits to enterprises.
A profile service is provided to every user. Users will begin their operations 1st by going through the KYC/AML procedures. This method is critical for the parties to understand one another and to stop scams. Users will read the sma
ll print like business info, tax, works through this profile will enter the small print of companies. An Escrow contracts is put together once the business orders product from any works. The smart contracts stop the mutual transfer of cash till the products reach the client. When the merchandise reaches the client, it presses the confirmation button and also the entire charge is transferred from the buyer's Volum account to the seller's Volum account.
The Volum system specializes in the energy sector, alcohol and supported by a robust company, has multiple beneficial options. The most valuable player system of the platform, that is sort of necessary and helpful for keeping records of pricey drinks, are obtainable to the users at the top of this year.
WEBSITE : https://volum.io/
White Paper : https://volum.io/assets/images/volum-whitepaper.pdf
Twitter : https://twitter.com/IoVolum
Facebook : https://www.facebook.com/volumproject/
Telegram : https://t.me/volum\_io
Reddit : https://www.reddit.com/user/Volumio
Bounty0x : barslanhan
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