Research

H1 2019 Crypto Report Highlights

CoinShares’ fourth biannual Crypto Report is available now, and with it, our customary “tl;dr” highlights below:

By   Christopher Bendiksen 25th July 2019
  • For all the assets we covered (with the exception of XRP), the theme of the first half of the year was price despair, followed by bottoming out, and then strong recovery. After prices generally bottomed towards the end of Q1, some cryptoassets experienced quite spectacular recoveries.
  • Among the assets we covered, Litecoin has led the pack this year, rallying a spectacular 281% during the first two quarters. Bitcoin followed, clocking a 188% price gain, most of it in Q2. Ether’s recovery, at 103% was somewhat subdued compared to Bitcoin and Litecoin, but still strong by most standards. Finally, XRP finished H1 2019 at a paltry 6% gain — a disappointing period compared to the rest of the industry.
  • Bitcoin and Litecoin hashrates both recouped their previous drops and reached new all time highs. Meanwhile, the Ethereum hashrate noted its second consecutive six-month decline. This is a worrying sign, and likely due to a combination of the larger comparative drop (94% from top) and subdued recovery in Ether, as well as this year’s decision by Ethereum developers to reduce the block reward by 33%, from 3 ETH to 2 ETH.
  • At the end of Q2, cryptocurrency found itself thrust to the forefront of US politics when Facebook unveiled their Libra proposal and received a tepid-at-best reaction from lawmakers. But even though both chambers of the US Congress were openly hostile to the Libra, several lawmakers openly came out in support of Bitcoin, including House Minority Leader Kevin McCarthy and Rep. Patrick McHenry of the Financial Services Committee.
  • On the protocol level, Bitcoin development took a significant step forward with the initial release of Peter Wuille’s Taproot proposal. Things were much less exciting in the Litecoin repository, which only saw 13 commits throughout the entire first half of 2019. Ethereum development seems to have come to the point of opting for a complete redesign of the protocol, with details and timing still being hammered out. Ripple continues to work on the RippleSuite, but it’s still unclear how much real world application it is seeing and the impact this will have on XRP.

For deeper coverage and additional performance metrics, we encourage you to download the full report:



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