It’s been very quiet days inside the crypto world. Well, after Bitcoin’s third Halving, and in the face of the lateralization of the BTC market, members of the cryptomint community seem to be taking a break from the almost frantic work they do permanently. It is a sign of this that the activity on the Tron Blockchain and Bitcoin Cash has collapsed.
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The state of crypto world
Since the emergence of the crypt coins eleven years ago, the crypt world has been characterized by truly frenetic levels of activity. Which is normal, considering that the center of the community that revolves around Blockchain technology, are developers from all over the world. Enthusiastic men and women with the ideas and values of the block chains, which provide their knowledge to improve the crypto currencies.
However, after Bitcoin’s third Halving a few days ago. The crypto world has experienced a general cooling. In which, despite the fact that proposals and ideas for cryptomonies continue to be developed. In general, activity levels are not as high as in the days leading up to Halving.
Which can be seen perfectly in the price of Bitcoin. For, although it has not suffered a setback, neither has it experienced an increase in importance to consider that it has started a bullish rally. So it’s in a phase known as the side market. No upward or downward movement, and basically in a temporary stagnation.
But, there is another, more direct way of observing this drop in crypto world activity. We are referring to the real breakdown in development in several of the world’s largest Blockchains. Including the more than 50% drop in activity in the development of Tron, Bitcoin Cash and EOS this second quarter of 2020.
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Fall in the activity of Tron, Bitcoin Cash and EOS
Thus, this period after Bitcoin’s Halving has been characterized by two things. First, the announcement of major updates in the code of several of the world’s major cryptom currencies. Including the upcoming release of ETH 2.0 and Tron 4.0.
And the second one, has been the deep fall in the activity of the developers in the Blockchains of big crypto currencies like Tron, EOS and Bitcoin Cash. As indicated by a study carried out by the investment firm in Blockchain and Artificial Intelligence, Outlier Ventures. It reports an 86% collapse in EOS activity, 63% in Bitcoin Cash, and 53% in Tron.
On the other hand, other cryptomontages such as Bitcoin and Ethereum Code, have seen less aggressive decreases in their activity, with a drop of about 20%. And a smaller, but equally relevant, decrease in the Blockchain of Ripple and Stellar. Meanwhile, Cardano has experienced a 580% increase in activity.
All this would show a cooling of the crypt world’s activity. At a time when everyone is looking forward to what may happen in the Bitcoin market after Halving. Therefore, most users do not maintain the usual working levels. Which makes this drop in activity our Tip of the Day here at CryptoTrend.