Vol.22: Bearish sentiments reign as digital assets give up gains

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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 generally decreased this week, with the price of 94 out of top 100 cryptocurrencies experienced decline to varying degrees . On August 6th, the total market cap of the TOP100 cryptocurrencies decreased to 253.798 billion dollars, a 14.65% decrease from last week. 6 new Cryptocurrency projects entered the top 100 this week. On August 6th, Bitcoin’s price was at $7012.95, down 14.55% from last week, and Ethereum price was at $406.78, up 12.76%. HB10’s price decreased by 14.69% this week.

Average number of unconfirmed transactions per block and average block size on Bitcoin increased; average block size increased and average unconfirmed transaction decreased on Ethereum. Average number of unconfirmed transaction in Ethereum and Bitcoin increased by 12.25% and 21.24%, respectively. Bitcoin’s transaction fees and Ethereum’s transaction fees greatly decreased. The 7-day average of unconfirmed transactions for Bitcoin and Ethereum are 2584 and 24705, respectively. Bitcoin’s Hashrate increased by 8.57% and Ethereum’s increased by 1.41%. The average transaction fees on the Bitcoin and Ethereum network this week were $0.555 and $0.152, decreasing 27.4% and 23.24%, respectively. Total number of addresses on the Bitcoin and Ethereum network reached 27.24 million and 42.81 million, respectively.

TRON was the most active project on GitHub this week, with 145 commits submitted in the past week. Sponsify ICO 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. Sponsify ICO attracted the most fans on Telegram in the last 24 hours.

According to <Huobi Blockchain Big Data Weekly Insights>, “Bitcoin”, “Bot” and “Coinbase” were the hottest words on r/CryptoCurrency this week. Among the top three search engines (Google, Baidu, WeChat), popular topics regarding Bitcoin and Ethereum remained popular on Google, and Smart Contract remained popular on Baidu. Other cryptocurrencies have declined in popularity.

Singapore had the most ICOs this week, with platform projects being the most popular ICO project category. Among all 64 ICO projects, majority of them took place in Singapore. Platform projects were the majority, with Culture and Entertainment being the dominator. 9 investment activities took place in the Blockchain industry this week, with EPC 30 Million Dollar strategic investment, the largest amount raised in this week.

Download the Full Report:Huobi Research Weekly (Vol 22) 2018.7.30-8.5