Altcoins, here are the most used ones last month. Here are the cryptocurrencies with the largest increase in adoption in the last year.
A recent report conducted by Weiss Crypto Ratings tells us that although the cryptocurrency market has taken a decidedly downward path during 2018, there has been a significant increase in the use of altcoins. The rating agency claims that this trend is positive, as it indicates the growing level of adoption of the cryptocurrency worldwide during a period not particularly positive for investors, thus laying the foundations for an excellent 2019.
Growing cryptocurrency transactions
In more detail, according to a post recently published by the agency, four altcoin projects have seen a truly extraordinary growth in the adoption of the proposed tokens by users during 2018. At the same time, however, market prices plummeted on average by 80%.
We refer, at this juncture, to the volume of transactions of EOS, grown from 7.000 operations per day to about 4,6 million per day between February 2018 and March 2019. Also Tron, in the same period, saw its number of transactions increase from 3.000 to 1,9 million. The other two cryptocurrency projects identified by Weiss Ratings - BitShares e WAX, have seen their numbers grow to 1,1 million and 4,4 million transactions per day respectively.
In total, these four altcoin projects recorded a 2.700 percent increase in the number of daily transactions, from 433.000 transactions in February 2018 to over 12,4 million in March 2019. According to Weiss Ratings, this increased adoption in the face of market conditions waning would be in line with the trend observed during the dot-com era. The agency therefore expects that technological developments will also lead to a greater adoption of the cryptocurrency in the near future in the short term.
Transactions do not mean significant transfer of value
In his note Weiss also recalls how important it is to keep in mind that a large number of transactions does not necessarily equate to an equally significant transfer of value, and that the transactions on the four blockchains mentioned above have a relatively low relative value compared to the total, not thus becoming a significant yardstick for measuring mass adoption, as most of these operations may not be of an economic nature and / or performed by real users.
The daily transactions of EOS, for example, are 14 times higher than those of Bitcoin. But evidently, the transferred value of Bitcoin is higher than that of any other existing blockchain ...
