2018-11-8 16:29 |
The Huobi research weekly report for the period ending on Oct. 28th was published on Nov. 7th. Digital currencies remained relatively stable, and the market value dropped by 0.99 percent. The prices of Bitcoin and Ethereum, two of the world’s biggest cryptocurrencies, fell by 0.56 and 1.29 percent respectively in the past week. Within the same period, four new projects entered the top 100 list. Bitcoin accounted for more than 53 percent of the entire market capitalization.
In terms of regulation, the Financial Service Agency (FSA), Japan’s financial watchdog “considered certain restrictions on the ability of crypto margin traders to borrow” in order to reduce “speculation and risk.” The New Zealand Financial Markets Authority wants to strengthen how it supervises the crypto industry.
Movements in the MarketThe market valuation of the stablecoin USDC was the week’s top gainer as it increased by 419.62 percent. The USDC was launched by Coinbase and Circle in October. The USDC is currently ranked 56th by market capitalization.
Comet (CMT) was the biggest loser of the week and fell by 20.03 percent. It has a market cap of just over $33,000 and is ranked outside the top 1,000.
The top 10 assets were relatively stable as their prices fell to varying degrees.
The research breaks down crypto projects into four categories; blockchain platform, blockchain application, coin, and tokenization. Coin projects aim to fulfill the role of fiat currencies, blockchain platforms are decentralized operating systems designed for building Dapps, blockchain applications refer to specific use cases, and tokenization refers to digital assets linked to physical assets.
The market segmentation of the top 100 projects remained stable. The coin projects accounted for 65.39 percent of the overall market, representing a slight decrease from the previous week.
Between Oct. 22 and Oct. 28, the “average value of bitcoin net hash value was 50.14 EH/s, which was 1% lower than last week.” In the same period, the hash value of the Ethereum network was 244.194 TH/S, signaling a 3.03 percent drop.
The average difficulty of mining on the Ethereum network fell to 3.11P, marking a 2.54 percent drop from the previous month.
The top 5 Bitcoin mining pools were BTC.com, AntPool, BTC.TOP, SlushPool, and F2Pool.
Part of the research read:
“The trading volume of 24h this week dropped to a certain extent, with a drop of 4.88%. On October 28, 2018, as a whole, the 24h trading volume decreased by 4.88% compared with the same period last week.”
Community StatisticsBitcoin, Ethereum, and Ripple were the most active projects on Facebook while Ripple, Bitcoin, and Ethereum were the most active on Twitter.
Swachhcoin was the most active project on Telegram and VendiCoins was the most popular project in the last 24 hours.
The EOS platform outperformed Ethereum in terms of total activity. The report noted that:
“EOS’s DAPP has exceeded ETH regardless of the number of transactions or the transaction amount (converted to USD).”
The top 5 Dapps on the EOS blockchain are BetDice, EOSBet, EOS Poker, EOSplay lottery, and FarmEOS.
Gaming Dapps accounted for 93 percent of the trading volume on the EOS network.
Huobi Research: Blockchain Assets Remain Stable, Bitcoin Miners’ Fees Increase Slightly was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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