According to a report published Chainalysis September 24, cryptocurrency market has matured and reached a certain stability, as investors hold onto their assets.
American company specializing in cybersecurity, have collected comprehensive data on all cryptocurrencies — from the popular to the obscure. Based on an estimate of their aggregate liquidity, the researchers divided the coins into two broad categories: more liquid was defined as “used primarily for speculation and transactions,” and are less liquid, are presented as “investments lost coins and PreMain”. In addition, the currencies were classified in accordance with the volume of their reserves.
The experts came to the conclusion that scriptactive showed “extremely stable behavior” from may to August of this year. The price of bitcoin has remained stable for 22% of the observed period. The total amount of bitcoins held and intended for investments, was unchanged for 30% of this period.
The researchers attribute this behavior of the market maturation of crypto-currency investors this year are less prone to hype unlike 2017, and the fact that “sensational” news now has less impact on price action.
The authors of the report believe that by 2017 the early market participants “had different ideas and expectations”, compared with investors who came later, which led to the “migration” of the cryptocurrency market.
The report shows that both speculators and long term investors have not changed their views and positions in connection with bitcoin for this summer, with the exception of periods of market decline associated with severe negative news about the technological failures or hard regulation.
Experts Chainalysis note that the process of distribution of bitcoin is gaining momentum: even the client base of the company increased compared to 2017, despite a fall in prices.
The conclusions of the experts Chainalysis generally confirm the conclusions of their colleagues from the Bank for international settlements (BIS), the report of which was published on 23 September.
Recall, the experts of the BIS revealed the news that the cryptocurrency market reacts more noticeable than others. For example, the news about the ban of digital currencies or serious change in the legal regime in relation to them have the maximum effect.