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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.
This week, the overall market capitalization for the top 100 cryptocurrencies remained stable, with 47 projects increased in value to varying degrees. According to coinmarketcap, as of November 11th 2018, the total market cap of the top 100 cryptocurrencies was 204.37 billion U.S. dollars, increased by 2.89% from last week. 3 cryptocurrency projects entered the top 100 this week. As of November 11th 2018, Bitcoin was traded at 6402.62 USD, 0.52% higher than its price last week. Ethereum was traded at 211.88 USD, 5.81% higher than its price last week.
Bitcoin’s average block size and the average number of transactions per block both increased; Ethereum’s block size increased while the average number of transactions per block decreased. Number of unconfirmed transactions in Bitcoin increased by 47.61%, while that in Ethereum decreased slightly from the previous week. Total transaction fee decreased for Bitcoin while increased for Ethereum this week. The 7-day average of unconfirmed transactions for Bitcoin and Ethereum are 7531 and 60747 respectively. Bitcoin’s Hashrate decreased by 9.8% and Ethereum’s decreased by 0.64%. The average transaction fees on the Bitcoin and Ethereum network this week were $0.367 and $0.111, increased 1.92% and decreased 21.3% respectively. Total number of addresses on the Bitcoin and Ethereum network reached 30.27million and 48.90 million, respectively.
INS was the most active project on GitHub this week, with 241 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. Sirin Labs attracted the most fans on Telegram in the last 24 hours. According to <Huobi Blockchain Big Data Weekly Insights>, number of active Bitcoin addresses increased by 7.6% to 3.98 million, rising for 7 consecutive weeks. There were 1.47 million new addresses, increased by 7.2% from last week. There were 1.92 million on-chain transactions, increased by 8.6% from last week and reaching a 6-month high.
5 investment activities took place in the blockchain industry this week, including Bitfury which raised $80 million from investors, the largest amount raised this week.
1. Weekly Market Review
1.1 Market overview
This week, the overall market capitalization for the top 100 cryptocurrencies remained stable, with 47 projects increased in value to varying degrees. According to coinmarketcap, as of November 11th , 2018, the total market cap of the top 100 cryptocurrencies was 204.37 billion U.S. dollars, increased by 2.89% from last week, among which, ETA had the largest increased of 353.81% and its market cap ranking clinched to No.95. In addition, there were 3 projects that entered TOP100, namely, R (increased 36.63 %, now No.72), ETA (increased 353.81%, now No.95), and XIN (increased 4.51%, now No.100). As of November 11th , 2018, Bitcoin was traded at 6402.62 USD, 0.52% higher than its price last week. Ethereum was traded at 211.88 USD, 5.81% higher than its price last week.
The overall 24h trading volume remained stable this week. Overall, the 24h trading volume decreased by 0.11% compared with the same period of last week. In this week, 12 of the top 100 projects increased by more than 100% in 24h trading volume, of which the highest was MKR, with an increase of 643.00%; there were 5 projects that saw over 50% decline in their 24h trading volume, of which the highest was GXS, with an decrease of 78.36%.
The top 10 cryptocurrencies’ market share distribution remained stable, with XLM surpassing EOS, which became the 5th largest cryptocurrency in terms of market capitalization. On November 11th , the overall market cap of the top 10 cryptocurrencies was 181.35 billion USD, up by 3.25% from last week, accounting for 85.19% of the total market capitalization of cryptocurrencies, similar to last week. As of November 11th, XLM surpassed EOS, which became the 5th largest cryptocurrency in terms of market capitalization. BTC’s dominance was 52.24%, down by 1.12% from last week.
1.2 Segment Analysis
Among all cryptocurrency project segments, the average/total market cap of Application projects received the largest increase, while the average/total market cap of Asset-backed token projects received the largest decrease. As of November 11th, 2018, the total market cap of Application projects reached 34.12 billion USD, increased by 8.33% compared to last week, which is the biggest increase among all project categories. In addition, average market cap of Asset-backed token projects was 0.46 Billion USD, decreased by 1.02% compared to last week.
The market segment distribution of the top 100 cryptocurrencies remained stable. As of November 11th , 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 64.49%, slightly decreased from last week.
Note: According to the different attributes of cryptocurrencies, Huobi Academy of Blockchain Application will divide them into four categories: Coin, Application Class, Platform Class and Asset-backed Token.
Coin Project: Refers to a type of asset developed based on blockchain technology that does not correspond to a specific use scenario and whose main function is only the transaction target. Its asset value is mainly reflected by liquidity.
Platform Class Project: A type of asset that is associated with the development of the underlying technology of the blockchain and is supported by the right to use or participate in the platform.
Application Class Project: Refers to a type of asset that is associated with a specific application scenario and is supported by a certain right of use, participation, or dividend.
Asset-backed Project: Refers to a class of assets that is linked to actual assets such as gold and US dollars and supported by the value of physical assets.
Read Full Report Here: Huobi Research Weekly (Vol.36)