Annual Report for 2020 Live-Bit

Annual Report for 2020 Live-Bit

2020 was a year of great uncertainty having several ups and downs in the crypto market and it was the period when Bitcoin experienced its darkest day on March 12, dropping 39.5%. However, after eight months, it set the record for the first time topping $ 19,722.

It was the same year (2020) when Blockchain technology was in high discussion and adoption. Toward the start of 2020, the market capitalization of cryptocurrencies was moving slowly. It was below a mark of $ 200 billion that time, but it has grown over $ 738 billion and it’s a net increase of 269%.

It is observed that if institutional liquidity poured into the crypto market, the desire of people for investing in traditional capital also increased. Following Google Trends, it showcases that the recent search index for Bitcoin has broken the record greatly. Besides, it also demonstrates that there is a visible unusual rising trend in the total value locked in DeFi. It has increased surprisingly from $ 650 million at the opening of the year to $ 15 billion. It is tremendous 2,000% + year-over-year increase.

Apart from others, Live-Bit as leveraged from the year 2020, and below is the quick summary of the Live-Bit annual report.

  1. $ 50 million deposit achieved in 24 hours

A mass numbers of users deposited crypto assets on LiveBit on March 9, 2020, and it helped the company to surpass $ 500 million with a year-round high deposit.

  1. Trading volume in 24 hours exceeded $ 100 million

LiveBit’s trading volume is also getting pace. It was all high on July 28, 2020, when trading volume exceeded unusually in 24 hours and that helped surpass $ 1.9 billion.

  1. Contribution of Bitcoin in 1/4 of LiveBit’s trading volume

If observed in 2020, BTC and USDT are the most popular trading pair by volume in the market, and the pair accounted for 26.1% of LiveBit’s total trading volume.

  1. Increase of Altcoin’s popularity

It was analyzed that about 74.7% of LiveBit users made a trade with Bitcoin. Altcoins including Bitcoin and Ethereum are increasing their popularity day by day. This year, around 88.4% of users made exchanges with altcoins.

  1. Popular other Altcoins on LiveBit

By volume here are the 10 2020 altcoins which are the most popular by volume: TRX, KCS, LINK, EOS, AMPL, ATOM, ADA, XTZ, VIDT and DOT.

Categories: Finance

About Author