Japan has been hitting Bitcoin Market with some great inventions. Asian giant has major dominance in Cryptocurrency and Bitcoin Market, large part of the world-wide trading volume in Cryptocurrency Market is from Japan. This analysis is solemnly enough to prove Japan’s dominance in Bitcoin Market.
Though the inventor of Bitcoin is still unknown but it is said to be Japanese. Since the invention of it in 2009, Bitcoin has been on top and Japan plays an important part in it. Bitcoin is the first cryptocurrency ever made and since then its achieving new height every day. Bitcoin is currently trading at around $11,000; at the beginning of last year, bitcoin price was at $1,000, raising warnings from some analysts and prominent financial figures that it’s a bubble. The currency is extraordinarily volatile despite its recent ever-peaking performance, rising by thousands of dollars in value on one day only to fall by even more the next.
Country is dominating Bitcoin and Crypto Market from the very start. Japan Government also plays an important part in it, as recently Japan became one of the first country to fully accept digital currency and made Bitcoin its national legal currency. However, Japan’s recent climb as a bitcoin exchanging hotbed does not shock anyone. The nation was ready to embrace this part. Most part of the Bitcoin Market is being driven by Japanese men. Most of the retailers in Japan are willing to trade and accept Bitcoins and other major cryptocurrencies. Major dominance of Japan in Crypto Market began when regulators started to close cryptocurrency exchanges in China.
Recently one of the Japanese company named as “GMO Internet” announced that it will pay some part of its employee’s salary in Bitcoin. That is pretty amazing and surprising as well. The company provides Web Service, Internet and Advertisement services and by giving some portion of salaries in Bitcoin, it has shown that Japan is openly acknowledging Bitcoin and Investors are coming together in order to take Bitcoin to another level.
A Japanese bitcoin website known as Jpbitcoin.com recently shows some analysis that yen-based bitcoin trades have reached to 4.51 million in this last month. This is almost half of the world’s total. Additionally, the tax organization of Japan issued illumination that profit from bitcoin will be dealt with as income, from which exchanging misfortunes can be deducted. Ultimately, the Japanese government and banks have started to take a shot at J-coin, a nationalized cryptographic money that would sit close by the Yen.
While the Asian market represents a huge segment of the digital currency advertise, not the greater part of the nations in the East have been responsive to the prospering business sector. Nonetheless, the circumstance is very surprising in Japan because of a delicate approach from government and substantially higher reception. Besides, trading and raising cryptocurrency ventures, Country plays its role in mining too. Most of the miners of Bitcoin are from Japan. No doubt, these miners have taken Bitcoin to another level.
52% of ICO’s failed in 2017
According to the data compiled by Fabric ventures and Token Data, 52% of ICO’s failed in year 2017, and only 48% of them were successful.
A Total of $5.6 billion was raised by ICO’s in 2017, making it the most beneficial year for ICO founders ever, although project success ratio has dropped.
Number of successful ICO’s in 2017 were 435 with average funding of $12.7 million
10 largest projects raised 25% of total ICO’s funding
worrying sign is that return on investment for new investors in the market is on downtrend.
Venture capital fund Fabric Ventures and cryptocurrency data provider TokenData shared the figure in their “State of the Token Market” report. 2017 saw a huge boom in companies raising money by issuing their own digital currencies, which are structured similarly to bitcoin, in return for funds to build their business. These “coins” can then be traded freely on online exchanges, offering greater liquidity to investors than traditional equity investment.
“More than $5.6 billion of capital was raised in 2017 according to the metrics used by the TokenData team,” the report says. “This compares to $1 billion of ‘traditional’ venture investing in blockchain startups in the same time frame and a ‘mere’ $240 million raised by token sales in 2016.”
Fabric Ventures and TokenData found 435 successful ICOs out of an attempted 913 last year — meaning just 48% were successful.
The average amount raised was $12.7 million but the report notes: “Collectively, the 10 largest sales raised close to $1.4 billion and roughly 25% of the total capital raised in 2017.”
Almost a third of funding went towards blockchain infrastructure projects. The biggest ICO of last year was Filecoin, a project to build a decentralized data storage solution based on the blockchain. The project raised $257 million in September.
The majority of people investing in these ICO projects have been retail or small-time investors but institutions are increasingly looking at ICOs due to their eye-catching returns.
Berlin: The Crypto Capital of Europe
When it comes to spending crypto currencies in real life, it seems that Berliners are way ahead of entire Europe in terms of usage of crypto currencies.
Guardian referred Berlin as Bitcoin capital of Europe back in 2013, and it seems like with the passage of time Berliners are getting more into crypto currencies.
Nowadays people can buy an apartment, book holidays, eat and drink in a number of trendy bars and even pay for further education using the controversial cryptocurrency Bitcoin.
One of the first universities in Germany to accept Bitcoin as a mean of payment is the European School of Management and Technology (ESMT). The ESMT Berlin EMBA is ranked highly in the world for career progress and first started accepting Bitcoin payments in December 2016.
Georg Garlichs, CFO of ESMT explains that Bitcoin is a decentralized virtual peer-to-peer currency and can now be used for all payments to ESMT. The institution also accepts Ethereum, Litecoin and Dash and many other cryptocurrencies as a form of payment. “Similar to an SMS, the digital currency enables worldwide money transfers within a few minutes without involving a bank. ESMT is an innovative and future-oriented business school,” says Garlichs.
Niels Göttsch is the owner of Leuchtstoff Kaffeebar in Berlin which introduced Bitcoin payments in 2012 and has been fascinated by cryptocurrencies for a very long time. Why? Göttsch explains the idea of having a currency that doesn’t need an authority and therefore cannot be controlled by any state or company as one reason.
“There’s no political decisions in there. The algorithm is transparent to everybody,” says Göttsch.
Göttsch explains the second reason is that nobody can control Bitcoin payments. “First it is pseudo-anonymous, it’s hard to track user data. Second is you don’t need a bank that charges random fees. It is international and can be transferred to local money in every country you are in.”
Leuchtstoff Kaffeebar also accepts Ether as a form of payment. Do many customers use the Bitcoin and Ether payment services? Göttsch says: “It was more in 2012. Now with the high fees it’s not that common anymore.”
Networking is key in the crypto scene and Berlin’s tech scene has a strong, vibrant community. Developers, anarchists, libertarians, cypherpunks and would-be entrepreneurs have all been rubbing shoulders at bars in Berlin where you can pay with Bitcoin and where everyone is open to talking about crypto.
32 Cryptocurrencies with market cap of over $1 Billion
Market cap is one of the most important indicators to know the worth of any cryptcurrency,Boom of 2017 in crypto market lead many crypto currencies to reach different milestones. One of the most important targets for any crypto currency is to reach the target of $1 billion, and that’s what happened with 32 cryptocurrencies.
According to coinmarketcap, there are 32 different cryptocurrencies with market cap of over $1 billion
Bitcoin and Ethereum leading the market cap
Bitcoin is still the most valuable crypto currency in the world with market cap of over $190 billion, followed by ethereum ($110 billion) , so both these crypto currencies hold more than $300 billion in market cap out of total $580 billion, so Bitcoin and Ethereum are leading the number game in crypto market.
Here’s the list of 32 crypto currencies with market cap of over $1 billion
- Bitcoin ($190 billion)
- Ethereum ($110 billion)
- Ripple ($50 billion)
- Bitcoin Cash ($27 billion)
- Cardano ($14 billion)
- NEO ($10 billion)
- Stellar ($9.8 billion)
- Litecoin ($9.7 billion)
- EOS ($8.1 billion)
- NEM ($7.9 billion)
- IOTA ($6.7 billion)
- Dash ($6 billion)
- Monero ($4.8 billion)
- Tron ($3.9 billion)
- Icon ($3.6 billion)
- Ethereum Classic ($3 billion)
- Qtum ($3 billion)
- BitcoinGold ($3 billion)
- Vechain ($2.8 billion)
- Lisk ($2.6 billion)
- RaiBlocks ($2.5 billion)
- Populous ($2.5 billion)
- Tether ($2.2 billion)
- OmiseGo ($1.7 billion)
- Stratus ($1.4 billion)
- Zcash ($1.3 billion)
- Steem ($1.3 billion)
- Bytecoin ($1.2 billion)
- Siacoin ($1.2 billion)
- Binance Coin ($1.2 billion)
- Bitshares ($1.1 billion)
- Verge ($1.1 billion)
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