December 11, 2019, 7:24AM EST
• 1 min read

Cryptocurrencies are still mainly used for speculation

Quick Take

  • Bitcoin has, by far, the highest amount of value settled  in 2019 — $690 billion; followed by Ethereum ($134 billion), XRP ($54 billion), Bitcoin Cash ($51 billion) and Litecoin ($19 billion)
  • In total (BTC, ETH, XRP, BCH, LTC), there was $1.14 trillion settled on-chain in 2017, $1.36 trillion in 2018 and $0.95 trillion in 2019 (30% decline)
  • The close correlation between value settled and traded volume suggests that cryptocurrencies still appear to be mainly an instrument for speculation

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