Massive cryptocurrency growth in 2017
Cryptocurrency is attracting mainstream attention, resulting in notable growth in trade volumes and token values. Multiple blockchain-based currencies have seen massive growth since the beginning of 2017, including Bitcoin. There has also been a recent boom in alternative cryptocurrencies, especially Ripple (XRP) and Ether (ETH).
This has caused Bitcoin’s share of the total cryptocurrency market cap to fall below 50% for the first time in history, despite the significant growth of the token. One of the largest online cryptocurrency exchanges, Poloniex, recently issued a press release stating that it was working hard to cope with the influx of new users and increased transactions. The exchange said that since January 2017, it has seen an increase of over 600% active traders online, and a 640% increase in the amount of transactions processed.
Poloniex said it is working to scale up its operations to meet the massive increase in active traders, including hiring more developers and exchange staff.