The crypto mining craze has finally died down after more than two years.
That’s according to CoinDesk, which recently released a report that found that the crypto space is back in the spotlight after a year of dramatic declines.
CoinDesk said that its new survey shows that mining and other cryptos are back on track to surpass bitcoin’s market capitalization for the first time in three years.
It also showed that bitcoin and other crypto currencies have increased in value since the year ending March 2017.
Bitcoin, for example, increased about 7 percent from its peak in the third quarter to $1,062, according to the CoinDesk survey.
But that is not the case for other cryptocurrencies.
While Ethereum is now up about 20 percent, Ripple is down more than 25 percent, Dash is down almost 20 percent and Litecoin is down about 13 percent.
These are not good numbers, CoinDesk’s Matthew Lee said in a statement.
Lee pointed out that most of the cryptos in the top five were also the worst performing.
“There is a lot of hype surrounding these coins but we know they are very volatile and prone to price swings.
This report confirms this,” Lee wrote.
CoinMarketCap’s data is the second-largest in the industry behind Factom, which is currently trading at more than $4.7 billion.
In a separate report, the data firm also reported that the blockchain has more than doubled its market cap since the first quarter of 2018.
“With the blockchain boom of 2018 and the continued growth of digital asset markets, it’s clear that we have entered a new era of innovation and opportunity,” the report read.
“The continued rapid adoption of blockchain technology has created a new generation of crypto-enthusiasts, new platforms for exchanging value, and new opportunities for the world’s largest financial institutions and private corporations to offer their services and services to the world.”
CoinDesk is a research organization with CoinDesk and is based in New York City.