Last week saw the release of CoinDesk’s latest State of Bitcoin report, which gives a quarterly snapshot of the digital currency ecosystem.
Q3 was marked by a shift towards bitcoin technology’s use in non-financial applications, for example settlement. Both startups – with products like itBit’s bankchain – and large financial institutions – who are now investing in blockchain companies – drove this rhetoric.
Here, we’ve collected a few interesting tidbits you might have missed from the report – which weighs in at 87 slides.
1. Trading and volatility are back up
Last quarter, bitcoin experienced an uncharacteristic period of calm, with a peak-to-trough percentage of 20%. This zen didn’t last, however, as Q3 saw this figure rise by 13% (Side 12).
While it’s still on the lower end of the volatility spectrum (Q2 2014 recorded a peak-to-trough percentage of 84%), the quarter did see a boost in trading (Slide 13).
In the latter part of Q2, monthly trading volume had been between 5 and 6 million bitcoins. In August, it exceeded 10 million bitcoin – the first time since April.