Odaily Frontline｜After the ICO bubble burst, how did the Ethereum network develop?

This article comes fromCoinGape, original author: Nivesh Rustgi

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• , original author: Nivesh Rustgi

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Ethereum has shown considerable growth over the past two years following the ICO bubble, according to a report from Coinmetrics.latest reportBitcoin's growth this year has crushed altcoins to the brink of extinction. Still, after many coins have risen to $1 billion in market cap, their value proposition will certainly be questioned.

However, Coinmetrics'

latest report

The system has seen healthy growth over the past two years, it said. Although Ethereum was grossly overvalued during the 2018 ICO bubble, the current NVTV ratio is reaching a tipping point.

• NVTV ratio

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Coinmetrics has introduced a new ratio to analyze network value - the NVTV ratio. A lower NVTV ratio points to network growth; another positive note is that prices are undecided.

Odaily Note: The full name of NVTV is Network Value to Token Value, which refers to the ratio between the network value and the token value. The total value of all assets. Ethereum’s NVTV ratio has been steadily decreasing. On April 1, 2019, Ethereum's NVTV ratio reached an all-time low of 1.57. As of Nov. 10, the ratio was 1.90.

Growth of fungible and non-fungible tokensa reportimage description

Image source: Coinmetrics, Token (ERC20 and ERC721) transactions versus non-token (ETH transfer) transactions

Additionally, most of the growth has been attributed to the growth of stablecoins over the past two years. According to Coinshares

a report

, since November last year, the total market value of stablecoins has increased by 2.5 times. Despite Tether’s allegations, its stablecoin market cap remains at 80%.