Published On: Sun, May 13th, 2018

10 Charts Which Show This is Just The Beginning of Crypto

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The cryptocurrency market has been hailed as a nascent market that continues to experience exponential growth. Though not comprehensive, attempts have been made to define this growth using parameters such as the number of cryptocurrencies listed on the CoinMarketCap, which currently stands at 1,595.
Besides listed cryptocurrencies, other parameters of growth show the market just getting started, as analyzed by Chris McCann.
Growth in Market Cap & Volume

In 2017, the market capitalization of cryptocurrencies registered a 1600 percent growth, from $18 billion at the beginning of the year, to $300 billion toward the end of the year. The market capitalization further rose by more than 100 percent to reach $820 billion in January 2018. The following chart shows the average trading volumes over time.
Growth in Digital Wallets
Currently, the number of bitcoin and ether wallets is estimated to be 24 million and 31 million wallets respectively. However, this may not necessarily imply that the number of cryptocurrency users is commensurate to the number of digital wallets available.
A single person could hold several digital wallets since for digital currencies such as bitcoin because it is advisable to create a new wallet for every transaction one sends. These numbers of digital wallets are probably on the higher side. The …

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