CoinGecko, a cryptocurrency data and analysis platform, released its yearly report earlier this week, providing insights into some of the developments and milestones in the crypto space that were recorded in 2019.

Amongst many other details, the report showed that the crypto market was able to make some significant gains in both trading volume and market cap, thus setting the stage for an even bigger year in 2020. As the report showed, the crypto market saw a 44.1 percent rise in total market capitalization, moving from $120 billion to $180 billion across the year.

Not Much of Surprise Here

As expected, the most significant catalyst of this was the resurgence in the Bitcoin value, as the digital asset was able to bounce back from what was a rather rough 2018. Trading volumes also saw a considerable increase, gaining almost 600 percent and ending the year at over $50 billion in crypto traded across platforms.

Bitcoin was unsurprisingly the best-performing cryptocurrency of 2019, gaining 95 percent across 2019 despite showing some volatility and sustained drops in value towards the tail end of the year. The results were strikingly similar to those of many others that compared the performances of various investment products and took cryptocurrencies into consideration.

Last December, CoinDesk reported that cryptocurrencies were able to come back from the depths of the crypto winter to still outperform other asset classes, including commodities, equities, and bonds. Quoting Digital Assets Data co-founder and president Ryan Alfred, the outlet revealed that large-cap cryptocurrencies had the most impressive year, posting way more significant returns than traditional assets.

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Originally posted by:

Jimmy Aki

Inside Bitcoins

January 26th, 2020