CoinDesk released its State of Blockchain Q1 2017 study, which details recent trends, statistics and sentiment around cryptocurrencies and blockchain technology.
In this report two slides are very interesting. When put together and compared with current data, they point to what could be a fundamental shift in market dynamics.
Interestingly, this has not slowed down the increase in the bitcoin price, which has climbed 160% since the end of Q1. However, point to a growing interest in ethereum as an investment vehicle. The price of the platform's ether token has increased by 420% in the same period.
This looks like new money is coming into cryptocurrencies and choosing ethereum over other alternatives. Bitcoin’s trading volume is also increasing, but not by as much.
Hamidreza Asgari
June 17, 2017