Uphold’s users find solace in XRP, BAT, and DASH in the brutal bear market of 2018 as per their new research. The report further suggests that interests and investments in BAT and Dash increased drastically between January 2018 and January 2019.
Uphold is a cloud-based financial service platform that enables anyone anywhere to move, convert, hold and transact in any form of money or commodity instantly, securely and for free and it is the first ever financial service company to publicly share its reserve holdings in real time.
As per their release, Uphold mentioned that despite the fact that 2018 was a brutal year for anyone in the cryptocurrency market, their user base crossed 1 million members in total registrations. Moreover, it also mentioned that the number of their funded wallets and transaction customers had both doubled.
The statistics released by Uphold compares the growth in the number of cryptocurrency holdings among the Uphold users. These stats are for a period extending from 4 January 2018 to 4 January 2019.
The blog by Uphold stated,
“Holdings of all currencies increased materially over the period but DASH and BAT were the 2018 standouts (up 281% and 183% respectively). Uphold also saw good growth in holdings of ETH (up 70%), BTG (up 54%), BTC (up 41%) and LTC (up 24%).”
It further goes on to state that the biggest losers were Bitcoin [BTC] and Litecoin [LTC]. It mentioned that Bitcoin collapsed from 60% to 41%, Ether from 21% to 11% and Litecoin from 11% to 4%.
Uphold attributes this fall in interest in BTC, ETH, and LTC to the simultaneous rise in interest in XRP since its launch on Uphold in March 2018. It stated that XRP grew from zero to 39% from March 2018 to 4 January, 2019.
Another one of the reasons that contributed to such an interests in the above-mentioned cryptocurrencies, according to Uphold was the rapid development of products happening in their individual ecosystems.
XRP’s interest among users for example, was piqued by Brad Garlinghouse’s statements about xRapid going live by 2018. Since xRapid is used to settle cross-border payments by leveraging XRP as bridge currency, users flocked to it.
The same applied to BAT, which had Brave browser that would incentivize users/content creators in terms of BAT tokens. Dash’s popularity was attributed by Uphold to,
“DASH represents itself as digital money which can be used to make instant, private payments online or in-store using its secure, open-source platform hosted by thousands of users around the world.”
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