In the first half of 2019, Bitcoin surged from US$3,700 to US$12,000, and cryptocurrency also ushered in an explosion in the second quarter. Compared with the bull market in 2017, the external environment, technical foundation, application, and participation of large companies and institutions in the crypto market and the blockchain industry are very different, while regulatory and security issues are still shrouded in Two dark Bitcoin artclouds above the surging market enthusiasm. So what happened in the crypto market and the blockchain industry in the past six months? Bitpush brings you a mid-year inventory.
From the perspective of the halving time (in fact, it should not be based on the date, because the halving is based on the block height, so it is expected), the second halving in 2017 will occur in July, and the third is expected to occur in 2020 From March to June of the year, when the block height reaches 630,000. Therefore, if the performance of BTC in the past half year of 19 years is regarded as the warm-up before the third halving, it corresponds to the previous halving, that is, from 2018 (around 250) to 2017 (around 630), during which the price of Bitcoin rose Less than 3 times.
Metropolis aims to transform the consensus algorithm of Ethereum from PoW to a hybrid consensus algorithm of PoW and PoS in order to improve the efficiency of the entire Ethereum blockchain and reduce Cost, and finally transition to the fourth stage of pure equity consensus algorithm. It is more complicated to implement, so it is divided into two hard fork upgrades: Byzantium and Constantinople. On October 16, 2017, Ethereum performed the Byzantine hard fork at the 4.37 millionth block height according to the original plan. This time, the fixed time for the hard fork upgrade of Constantinople was determined.
The most prominent and longest-lived one is undoubtedly Litecoin. Since its inception in 2011, Litecoin is still in the forefront of the global market value, accompany Bitcoin to watch the changes in the market value rankings over the years. As shown in the figure below, in addition to Bitcoin and Litecoin, other early digital currencies have long since fallen into the ocean; those that should be reset to zero, should be delisted by exchanges, have faded out of our sight.
From January to June 2019, the blockchain project received $1Bitcoin art billion from Bitfinex, which has the largest amount of financing, followed by Bakkt with $182.5 million in Series A financing. Jianan Zhizhi, one of the three major mining machine manufacturers, also completed a round of financing of hundreds of millions of dollars in the first half of 2019, and the valuation reached billions of dollars after the financing.
From the perspective of financing efficiency or inclusive finance, this is indeed revolutionary. The traditional capital market, especially the primary market, is almost impossible for retail investors to participate. The primary market has high thresholds and there is also a certain investment monopoly. We know that the primary equity market, divided by cycle, is monopolized by angel investors, VC funds, PE funds, and PIPE funds. The investors behind these funds are all high-net-worth individuals after penetration. It is no exaggeration to say that retail investors The primary market for equity investment is almost missed. This kind of monopoly in the primary equity market is mainly caused by policy reasons and is also the result of risk preference choices. We generally believe that retail investors' ability to withstand risks is far lower than that of high-net-worth individuals, and they are not suitable for participating in high-risk investments.
BTC once again has a dominant advantage in terms of the number of active addresses. The chart below shows the daily active addresses of three assets: BTC's daily unique active address for most of 2019 fluctuated between 600,000 and 1 million, while BCH and BSV remained at 100,000 respectively And below 50,000 (except for some outliers):