The crypto market place has been on the rocks for the past 15 months, with the end of 2017 being the last leg of the previous Bull Run. The crypto winter went on to freeze and depress prices with sales of most Altcoins plunging by 90 percent or more from their all-time highs, with the mother of cryptos, Bitcoin, plunging by 85 percent.
Despite the depressing prices, the fundamental health of the industry is actually stronger according to one crypto analysis firm.
Crypto Industry Stronger than ever
Even though sentiment around the crypto market is still extremely bearish and rightfully so considering the severity of the bear market- the market seems to be showing signs of maturity. This has attracted the interest of creative developers, investors, and users.
According to Boston based crypto analytics firm Flipside crypto, the interest by top developers who have gone on to innovate on the back of crypto technology, has led to a healthier industry than the prices may indicate.
The number crunching Boston based crypto analytics firm has released what it calls the FCAS25- an index that tracks the entire health of crypto of the crypto industry over time, using key metrics including user activity, developer behaviour, and market maturity.
The index is built on a “time-weight moving average” of 25 individual crypto-currencies, and suggests that market health is far sturdier today than it was this time last year. This Coinbase ventures-backed Flipside crypto index says that market maturity has dropped since the 2017 market Bull Run and the media storm that launched Bitcoin into the stratosphere and turned it into a household name.
Developers have remained consistent over the past two years according to flipside crypto with developers “gradually increasing among the Flipside 25 over the course of the last 2 years.” According to flipside crypto this demonstrates a “healthy commitment among the teams supporting the ongoing improvements to the top crypto projects.”
According to the firm, user activity has only grown significantly among top projects;
“This leads us to believe that while investor interest has perhaps waned since early 2018, the top projects have successfully increased on-chain traffic and utilization of their projects; a sign of underlying fundamental health.”
The Industry is humming
Flipside crypto consider their FCAS25 index as a “a single, consistently comparable value for measuring crypto-currency project health.” According to the firm’s CEO Dave Balter, the crypto industry is “humming”.
“When crypto-currency prices are down, everyone worries about industry health,” he Dave Balter, CEO of Flipside Crypto detailed. “But price is a poor indicator for whether crypto-currency projects and platforms are gaining customers or delivering product to the market. We developed the FCAS25 to provide clarity into the fundamental health of crypto-currency organizations, that isn’t reflected in price. The data proves the crypto-currency industry is far from over. As a matter of fact, it’s humming” he said.
This index appears to second a January 15 article by Forbes that predicted the maturity of crypto in 2019, citing convergence between the enterprise and the crypto sides of the industry, conversations about crypto moving away from just price, an increase in users leveraging of crypto, and the beginning of meta-blockchain protocols that connect individual blockchain together.
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