Connect with us

Blockchain

Building on Ethereum is More Popular Than Ever Despite Price and Search Decline

Data reveals that developers building applications on Ethereum’s network has increased massively over the past couple of years.

The post Building on Ethereum is More Popular Than Ever Despite Price and Search Decline appeared first on CryptoPotato.

Republished by Plato

Published

on

The number of web developers building applications on Ethereum has increased year-on-year since 2018. According to data from npm.stat, which displays the number of times a JavaScript code library has been downloaded, more Ethereum-specific code packages were downloaded in 2020 than in 2018 and 2019 combined.

Ethereum ‘Buidlers’ Keep on Building

The two most commonly used JavaScript libraries in Ethereum are Ethers.js and Web3.js. Seen below, courtesy of ChainShot.com, the use of both code libraries rapidly expanded over the past two years.

ethereum-javascript-downloads
Downloads of Ethereum-specific JavaScript libraries increased year-on-year since 2018. Source: ChainShot

Combining the figures from both code libraries, it can be seen that downloads of Ethereum-specific code increased 400% since 2018. The drastic uptick in the number of developers is all the more impressive because Ethereum did little but decline during the period in question.

Both the ETH coin price and the volume of Google search interest for Ethereum exhibited a significant decline after the flash-point of the 2017-2018 bull run. Current Google Trends data suggests Ethereum is being searched for 87% less than it was during its all-time high.

ethereum_google_trends_data
Google searches for Ethereum plummeted while experimentation with its code libraries increased. Source: Google Trends.

Likewise, despite more than doubling in value in 2020, Ethereum remains a long way off its all-time price high of $1,432.

You Might Also Like:

However, it appears as though developers have not been perturbed. The graph below shows weekly download figures for Ethers.js on its own. In January of 2018, weekly downloads totaled a mere 918. By the summer of 2020, that figure had jumped to 196,423, marking a 21,296% increase.

ethereum_java_downloads_per_week
Downloads of Ether.js alone increased by 21,296% since 2018. Source: Npm.Stat

Ethereum JavaScript Gaining Ground

All in all, Ethereum libraries were downloaded 9.5 million times in 2020. For some context, the most commonly used JavaScript code library on the internet is Lodash. Lodash was downloaded 832 million times in 2020, meaning Ethereum downloads are now equal to just over 11% of the most used JavaScript library on the internet.

For further context, Lodash downloads have more than doubled since 2018. By comparison, the 400% growth of Ethereum-specific downloads in the same period seems all the more remarkable – especially given that Ethereum has been in a bear market the entire time.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.


Source: https://cryptopotato.com/building-on-ethereum-is-more-popular-than-ever-despite-price-and-search-decline/

Blockchain

Respected Financial Historian Calls for Bitcoin Integration into U.S. Financial System

Republished by Plato

Published

on

Financial historian and Milbank Family Senior Fellow at the Hoover Institution at Stanford University, Niall Ferguson, has penned a lengthy piece on Bitcoin which is getting noticed by the crypto community.

In it, the former Harvard and Oxford University professor commented on how the traditional naysayers and debunkers have softened their collective stances this year as the asset outperforms most other traditional investments.

Big Bitcoin Endorsements

The piece was re-tweeted a number of times, most recently by 10T Holdings co-founder Dan Tapiero who observed that this could garner huge attention. Of particular note were the comments on the integration of Bitcoin into the U.S. financial system;

“Rather than seeking to create a Chinese-style digital dollar, Joe Biden’s nascent administration should recognize the benefits of integrating Bitcoin into the U.S. financial system,”

Ferguson made additional references to China’s digital yuan adding that its potential for adoption for remittance payments or cross-border trade settlements is ‘substantial’.

The Bloomberg columnist had previously written on the virtues of Bitcoin stating that there are far fewer coins in circulation than there are millionaires on the planet.

“If millionaires collectively decided to hold just 1% of their wealth as Bitcoin, the price would be above $75,000 — higher, if adjustment is made for all the bitcoins that have been lost or hoarded.”

Big Names Paying Attention

He made reference to a number of big names in the financial world including Paul Tudor Jones, Stan Druckenmiller, Bill Miller, and even Ray Dalio that are now appearing to turn bullish. Even ardent Bitcoin detractors such as Peter Schiff and Nouriel Roubini, also mentioned in the article, have started to change their tune.

He added that adoption has much further to go, quoting Argentine-born tech investor Wences Casares who stated after ten years of working well without interruption, with close to 100 million holders, adding more than a million new holders per month and moving more than $1 billion per day worldwide;

“it has a 50% chance of hitting a price of $1 million per bitcoin in five to seven years’ time.”

The advantages of sovereignty and scarcity are obvious at a time when the supply of fiat money is exploding, Ferguson added, concluding that there was a clear demand for more privacy when it comes to a payment system that will inevitably replace cash.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/respected-financial-historian-calls-for-bitcoin-integration-into-u-s-financial-system/

Continue Reading

Blockchain

Further Declines in Bitcoin Price Possible Though Grayscale is Crucial, Notes JPM Analyst

Republished by Plato

Published

on

Although Bitcoin has recovered from its vigorous price losses during the Thanksgiving massacre, analysts from JPMorgan Chase & Co believe that further declines may still occur.

The strategists pointed out that Grayscale, through its Bitcoin Trust, will play a significant role in future BTC price developments.

Is Bitcoin To Head Further South?

The primary cryptocurrency reached a new yearly high of $19,500 last week; thus, it came less than 3% away from the 2017 all-time high of $20,000. As the community began speculating on how long it will take to surpass that level, the trend reversed viciously.

Bitcoin headed south and lost over $3,000 of value in hours. Nevertheless, the cryptocurrency has recovered most of its losses and trades north of $18,000.

A JPM analysis, led by Nikolaos Panigirtzoglou, recently said that the Thanksgiving price drops had cleared the “previous froth in momentum traders’ positioning.” However, the strategists hinted that Bitcoin could still go lower.

“Momentum traders such as commodity trading advisors and other quantitative funds likely played a big role in the slide by unwinding long Bitcoin futures positions. Momentum traders have room to further propagate” the Bitcoin decline, noted the analysts cited by Bloomberg.

Apart from broaching “momentum traders,” the strategists also discussed various other reasons behind the price developments. Those included the rumors of new regulations proposed by the Trump administration and profit-taking.

Grayscale Is Key

The JPM strategists also highlighted the significant role of Grayscale and its Grayscale Bitcoin Trust on the market. The cryptocurrency manager is the most preferred company for institutional investors to receive exposure to Bitcoin (and other digital assets) without worrying about storing the funds.

This has been exemplified through 2020 as Grayscale has reported back-to-back recording-breaking quarterly results. The assets under management (AUM) have exploded in the past 12 months to over $10 billion. Somewhat expectedly, the Grayscale Bitcoin Trust has the most substantial share.

The analysts asserted that if there’s a decline in the interest towards GBTC, this could damage the narrative that Bitcoin has become a favorite among institutional investors:

“A failure by the Grayscale Bitcoin Trust to receive additional inflows over the coming weeks would also cast doubt to the idea that institutional investors such as family offices have embarked on a trend of embracing Bitcoin as digital gold replacing traditional gold as a long-term investment.”

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/further-declines-in-bitcoin-price-possible-though-grayscale-is-crucial-notes-jpm-analyst/

Continue Reading

Blockchain

Bitcoin Breaks New All-Time Highs Targeting $23,000

Republished by Plato

Published

on

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: https://cryptobriefing.com/bitcoin-breaks-new-all-time-highs-targeting-23000/

Continue Reading
Blockchain5 days ago

Coinsquare exchange adds new board members

Blockchain4 days ago

Five Reasons Ethereum Has Entered a New Bull Market

Blockchain5 days ago

US Spy Chief Reportedly Worried About China’s Crypto Dominance

Blockchain5 days ago

Bitrue Employs Provably Fair Chainlink Oracles for Daily XRP Raffles

Blockchain5 days ago

VanEck Europe Launches A Bitcoin-Backed ETN Listed On Deutsche Börse

Blockchain5 days ago

Deloitte: Financial institutions to boost future blockchain spending

Blockchain5 days ago

VanEck Europe Launches A Bitcoin-Backed ETN Listed On Deutsche Börse

Blockchain5 days ago

Analysts Eye New Top of $74,000 as Bitcoin Comes Within 3% of ATH

Blockchain5 days ago

Analyst: XRP Posts Failed Breakout as It Loses Its “Coil Power”

Blockchain5 days ago

Fire breaks out because of a Bitcoin mining farm in Russia

Blockchain5 days ago

Ethereum Transaction Fees Rising Hints At DeFi Season Round Two

Blockchain5 days ago

Bitrue Employs Provably Fair Chainlink Oracles for Daily XRP Raffles

Blockchain5 days ago

Coinbase Pro To Disable Margin Trading From December Citing CFTC Guidence

Blockchain5 days ago

Lolli integrates ‘free Bitcoin’ functionality for eBay before Black Friday

Blockchain5 days ago

South Korean Lawmakers to Delay Cryptocurrency Tax Rule Implementation Till 2022

Blockchain5 days ago

BIS Says CBDCs Likely Better than Private Stablecoins Like Libra

Blockchain5 days ago

Coinbase Pro To Disable Margin Trading From December Citing CFTC Guidence

Blockchain4 days ago

ViaBTC launches new cloud mining service with BTC and ETH contracts available

Blockchain4 days ago

Five Reasons Ethereum Has Entered a New Bull Market

Blockchain5 days ago

Price analysis 11/25: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, BNB, XLM

Blockchain5 days ago

Australia and Singapore Pursuing Blockchain Adoption for Bilateral Trade

Blockchain5 days ago

Peter Schiff Believes Wealthy Investors And Institutions Won’t Buy Bitcoin When Inflation Finally Kicks In

Blockchain5 days ago

PayPal Reportedly Restricted a User’s Account for Trading Cryptocurrency

Blockchain5 days ago

Libra association appoints Saumya Bhavsar as general counsel of Libra networks

Blockchain5 days ago

Galaxy Digital CEO recommends investing up to 3% of one’s net worth into Bitcoin

Blockchain5 days ago

Bulls Beware: Ethereum is Breaking a Crucial Trendline for the First Time in Weeks

Blockchain4 days ago

YFI and UNI are now available for trading on CoinJar!

Blockchain5 days ago

XRP, Dash, BAT Price Analysis: 25 November

Blockchain5 days ago

Facebook’s Libra hires former OCC prosecutor and central bank expert

Blockchain5 days ago

Litecoin, IOTA, Ethereum Classic Price Analysis: 25 November

Trending