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Huobi Research of Blockchain Application generates a weekly cryptocurrency market review report called Huobi Research Weekly, and following is the abstract.
Market cap and transaction volume of cryptocurrencies increased this week, with the price of 34 of the top 100 cryptocurrencies increased to varying degrees. As of November 4th, the total market cap of the top 100 cryptocurrencies reached 198.63 billion dollars, a 0.90% decrease from last week. 3 cryptocurrency projects entered the top 100 this week. On November 4th, Bitcoin’s price was at $6367.24, down 1.70% from last week, and Ethereum price was at $199.95, down 2.11%.
Average number of transactions per block increased while average block size decreased on Bitcoin; average number of transactions per block increase while average block size decreased on Ethereum. Average number of unconfirmed transactions in Bitcoin increased by 11.89%, while that of Ethereum decreased slightly from last week. Bitcoin’s total transaction fee decreased while Ethereum’s total transaction fee increased. The 7-day average of unconfirmed transactions for Bitcoin and Ethereum are 5102 and 75998 respectively. Bitcoin’s Hashrate increased by 5.4% and Ethereum’s decreased by 2.06%. The average transaction fees on the Bitcoin and Ethereum network this week were $0.364 and $0.141, decreased 25.3% and increased 6.02% respectively. Total number of addresses on the Bitcoin and Ethereum network reached 29.88 million and 48.36 million, respectively.
INS was the most active project on GitHub this week, with 429 commits submitted in the past week. Swachhcoin was the most popular group on Telegram. In terms of community activity, Bitcoin, Ethereum, and Ripple remained as the most popular communities on Facebook and Twitter. Tolar Labs attracted the most fans on Telegram in the last 24 hours. According to <Huobi Blockchain Big Data Weekly Insights>, 1) there were 21.84 million transactions on EOS, increased by 10.4% from last week. The number of transactions on EOS has been increasing for 6 consecutive weeks. 2) the activity for dApps of various categories other than gambling drastically increased, especially exchange dApps (Newdex) and game dApps (EOS Knights). 5 investment activities took place in the Blockchain industry this week, however the specific amount of investments were undisclosed.
1. Weekly Market Review
1.1 Market overview
This week, the overall market capitalization for the top 100 cryptocurrencies remained stable, with 34 projects increased in value to varying degrees. According to coinmarketcap, as of November 4th, 2018, the total market cap of the top 100 cryptocurrencies was 198.63 billion U.S. dollars, decreased by 0.90% from last week, among which, SXDT had the largest increased of 217.76% and its market cap ranking clinched to No.99. In addition, there were 3 projects that entered TOP100, namely, SXDT (increased 217.76 %, now no.99), NXT (increased 5.58%, now no.100), and THETA (increased 1.35%, now no.96). As of November 4th, 2018, Bitcoin was traded at 6367.24 USD, 1.70% lower than its price last week. Ethereum was traded at 199.95 USD, 2.11% lower than its price last week.
The overall 24h trading volume increased this week. Overall, the 24h trading volume increased by 17.62% compared with the same period of last week. In this week, 11 of the top 100 projects increased by more than 50% in 24h trading volume, of which the highest was WAX, with an increase of 426.16%; there were 20 projects that saw over 50% decline in their 24h trading volume, of which the highest was BCD, with an decrease of 97.41%.
The top 10 cryptocurrencies’ market share distribution remained stable, with BCH receiving the largest weekly increase of 12.72% and the market cap of ADA exceeding that of USDT to become the 8th largest cryptocurrency in terms of market capitalization. On November 4th, the overall market cap of the top 10 cryptocurrencies was 175.65 billion USD, down by 0.85% from last week, accounting for 84.81% of the total market capitalization of cryptocurrencies, similar to last week. As of November 4th, BCH received the largest increase of 12.72% out of all top 10 cryptocurrencies, and ADA replaced USDT as the 8th largest cryptocurrency in terms of market capitalization. BTC’s dominance was 53.36%, similar to last week.
1.2 Segment Analysis
Among all cryptocurrency project segments, the average/total market cap of tokenization projects received the largest decrease, while the average/total market cap of coin projects received the smallest decrease. As of November 4th, 2018, the total market cap of tokenization projects reached 2.30 billion USD, decreased by 4.02% compared to last week, which is the biggest decrease among all project categories. In addition, average market cap of coin projects was 5.91 Billion USD, decreased by 0.79% compared to last week.
The market segment distribution of the top 100 cryptocurrencies remained stable. As of November 4th, 2018, the proportion of the market segments has remained stable among the top 100 compared to last week. The largest overall market cap by segment was still coin projects, accounting for 65.48%, slightly decreased from last week.
Note: According to the different attributes of cryptocurrencies, Huobi Research will divide them into four categories: Coin, Application, Platform and Tokenization.
Coin: The coin category refers to cryptocurrencies that aim to solve the problems of modern day fiat currencies, providing benefits like decentralization, improved safety, lower transaction fees, and faster confirmation speeds. The most popular coin cryptocurrency is Bitcoin. The value of coin cryptocurrencies lies in its ability to act as a medium of exchange.
Blockchain Platform: The Blockchain platform category refers to Blockchain projects that provide a platform upon which developers can create applications using the underlying Blockchain. Applications can utilize the platform’s Blockchain without needing to create one themselves. Blockchain platform assets grant the right to use and participate in the platform.
Blockchain Application: The Blockchain application category refers to Blockchain projects that have specific use cases. These could either utilize their own Blockchain, or exist on a Blockchain platform as a “dApp”. Blockchain application assets grant the right to use and participate in its use cases, and its value lies in the application’s ability to perform its function.
Tokenization: The tokenization category refers to Blockchain projects that is linked to actual assets like gold or USD. The most popular tokenization project is Tether. The value of a tokenization asset lies in the value of the underlying physical assets.
Read Full Report Here: Huobi Research Weekly (Vol.35)