The data from Messari shows that all the platforms built on Ethereum have a combined market cap of $63.7 billion. This is nearly 20% of the total market capitalization of the coin.
Ethereum has proven to be the most valuable asset class in 2020. This was reported by Messari, the market data aggregator firm. According to them, Ethereum and decentralized apps built on it have shown massive appreciation with a 130% year to date growth.
This is coming in the heels of a market slump associated with the coronavirus pandemic. Ethereum and platforms built on it have shown impressive growth this year.
Up to 500% Gains
The data from Messari shows that all the platforms built on Ethereum have a combined market cap of $63.7 billion, this is nearly 20% of the total market capitalization of this asset market. Ethereum currently has 178 assets built on it. The data also shows that assets such as Bancor (BNT) and Kyber Network (KNC) are currently listed among the top 10 performing assets based on Ethereum that have made gains exceeding 500% year to date.
The platform has been a strong factor in the increasingly popular decentralized finance (DeFi) protocols.
Even with the performance of dApps built on it, Ethereum has shown great promise with a growth of 142% YTD. It is currently the 41st strongest asset based on its 2020 performance.
A Few Weak Coins
As should be expected, not all assets on the platform have performed remarkably. 15 assets built on the platform have suffered single-digit percentage in losses while some others have lost half their values since this year. The recent revelations are a testimony to the success that Ethereum has become. Aside Tether, a number of other stablecoins were issued on the platform. This is a contributory factor to the increasing a popularity of Ethereum.
It is not surprising therefore that there are more Ethereum wallets that are in profit. This is even more than those bearing bitcoins. This became apparent with the recent rise in the value of ether, which now trades above $300.
Statistics available from blockchain data shows that the total number of Ethereum wallets in profit are 31.86 million while those of Bitcoin are 30.83 million.
More ETH Hodlers
According to data made available by The Defiant, most of the Ethereum addresses came aboard when the price of the cryptocurrency was below $200 sometime before March when the market was dreary. The last time ether traded above $300 was a year ago. The difference with this recent rally is that last year, just 13.5 million addresses were in profit. This was less than 50% of all addresses holding ether then.
Onchain analysis data from Historical In/Out of the Money (HIOM) shows that the number of holders holding on to the token for more than a year
Chuks is a blockchain enthusiast and finance researcher that has covered the crypto sphere for several years. He believes that the evolving technology would change how we do business.