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The tokens have been gaining ground steadily in Ethereum, in terms of valuation.USDT began to stand out in may of 2019, and now registers more than 80% of transactions in the network.Coin Metrics was published on November 12, the 25th edition of their research report. In this occasion, explores the evolution of the tokens, Ethereum, including Tether, since it was introduced in the network a new and easy way to create them using a contract smartphone, which caused an explosion of chips which made the standardization out increasingly momentous.The study reveals that the stablecoins, especially Tether (USDT), have driven the growth of the network Ethereum in the last two years, taking into account that in the chain of blocks are recorded 2 to 3 times more transactions in USDT that in the criptoactivo native Ether.In order to deepen their analysis, Coin Metrics introduced a new metric by which to determine the valuation of the network: the ratio of the value of network value of a token (NVTV). This basically measures the proportion of the total market capitalization displayed in Ethereum and compares with the ETH. In that sense indicates that, the lower the ratio, suggesting greater growth of the network.Therefore, the study found that the relationship NVTV of Ethereum has been decreasing constantly. For example, the April 1, 2019, the NVTV network reached an historic low of 1.57. From the 10 of November, the ratio is 1.90, indicative of the growth that comes from experiencing.Another metric calculated by the analysts of the CoinMetrics was the capitalization carried out, which can be considered as a measure of the basis of the total amount invested originally. The result showed that the capitalization performed has also steadily declined and is currently at a historical low of 2.57. An indication that the tokens have been gaining ground constantly in the network, in terms of valuation. The study determines that the majority of this growth experienced by the network, from mid-2018, it comes from a specific subset of tokens CKD-20: the stablecoins.
Tether, a token of power
Not only the value of the network has increased, have also increased the transactions in the network. The tokens ERC20 and ERC721 are beginning to lead in the volume of transactions in Ethereum. In fact, until the 10th of November, the ERC-20 had made a few 303.000 transactions a day in front of 290.000 to ETH.Analysts CoinMetrics point out that a large part of the rapid increase in transaction count of the token CKD-20 should also be to Tether. In the box below, we can see the market share of the top ten tokens, according to the counts of transactions per day higher (averaged over the past 30 days) of what is going of 2019. USDT began to gain ground in may and now registers more than 80% of transactions in the network.Between January and march of 2019, the tokens CKD-20 had an insignificant percentage of the total transactions in Ethereum. Image: Coin Metrics.In terms of the rates of transfer, the token CKD-721 has been moving forward in a meaningful way, because at the end of October, exceeded the counts of transfers of CRD-20 and ETH, while in November it has already ballooned beyond the counts of transfers of the game CryptoKitties.This big increase in tokens CKD-721 should be almost entirely a card game based on Ethereum called “Gods Unchained”, such as the report points out.CoinMetrics comes to the conclusion that the tokens of Ethereum have evolved greatly over its short life, so it is believed that will continue to advance just as fast. However, the research firm, agrees to continue to monitor its constant evolution.The signature of ecosystem research reported in its report of 11 June that the transactions of Tether (USDT) had a significant increase in the platform Ethereum, reaching almost 20 % of the total transactions with this criptomoneda during the month of June.In August last Breaking News published an analysis in which manages the thesis that the total supply of Tether, which has experienced a rapid growth since the year 2017, and reached a new historical maximum, it points to that Ethereum is, in part, responsible for what is in it.