A coinsoftworks Market Analysis Report Shows How Human Behavior Supports the Crypto Ecosystem

17 June 2023 (GLOBE NEWSWIRE) -- NEW YORK coinsoftworks.com, a global ecosystem of products and services that connects individuals and businesses to the cryptocurrency economy and decentralized finance, has published its Q2 2023 market analysis report, GLOBAL CRYPTO MAGAZINE: Finding "You" in Users: The Influence of Human Behavior on the Crypto Ecosystem.

The report, compiled by The coinsoftworks.com Market Research Team, analyzes the scope and frequency of address activity across a variety of industry verticals. After segregating six of the top ten cs™ networks, along with Bitcoin, based on total value locked, the Team measured traffic at key ecosystem nodes. Tracking interactions with decentralized finance (DeFi), decentralized exchanges (DEXs), non-fungible tokens (NFTs), and network bridges revealed community trends in data correlations. In turn, the report investigates why active addresses are frequently confused with active users, despite the fact that individuals frequently maintain multiple digital footprints.

CEO and Founder of coinsoftworks.com, George Harp, stated that relying solely on daily average user statistics can provide a distorted picture of on-chain activity. "In practice, sustaining a diversified digital portfolio may necessitate juggling multiple addresses in order to maintain agility. By analyzing this behavior in reverse, we can determine how transactions are prioritized and where resources can be allocated to improve the user experience.

In addition, the report offers a technical analysis of trends affecting the Bitcoin and Ethereum ecosystems. The Team investigates the impact of the proliferation of liquid staking tokens (LSTs) on the Ethereum mainnet on the capacity to pay network gas fees. In addition, the pros and cons of Ordinals and BRC-20 tokens continue to divide Bitcoin community members regarding the role NFTs should play on the network.