Market capitalization and transaction volume of top cryptocurrencies increases

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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.

Abstract

Market cap and transaction volume of cryptocurrencies increased this week, with the price of 78 of the top 100 cryptocurrencies increased to varying degrees. On October 21th, the total market cap of the top 100 cryptocurrencies reached 202.49 billion dollars, a 3.69% increase from last week. 2 cryptocurrency projects entered the top 100 this week. On October 21th, Bitcoin’s price was at $6513.70, up by 3.12% from last week, and Ethereum price was at $206.93, up by 3.23%.

Both average number of transactions per block and average block size increased on Bitcoin; both average number of transactions and average block size decreased on Ethereum. Average number of unconfirmed transactions in Bitcoin increased by 15.5%. 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 4095 and 0, respectively. Bitcoin’s Hashrate decreased by 1.11% and Ethereum’s increased by 2.11%. The average transaction fees on the Bitcoin and Ethereum network this week were $0.388 and $0.136, decreased 5% and increased 7.94% respectively. Total number of addresses on the Bitcoin and Ethereum network reached 29.47 million and 47.27 million, respectively.

ZRX was the most active project on GitHub this week, with 104 commits submitted in the past week. Swachhcoin was the most popular group on Telegram. ZRX’s GitHub repository had 204 new commits in the last week. 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>, there were significant changes in balance—both net-outflow—to Bitfinex’s Bitcoin and Ethereum cold wallets, accounting for 26k BTC and 218k ETH, respectively. New data included this week: EOS dApp activity and TRON telegram activity. Number of transactions on EOS increased by 66.3% from last week. Gambling was the most popular EOS dApp category, accounting for 87.7% of total transaction volume and 90.7% of total number of transactions. TRON English was the most popular telegram group, eyeing a 265% increase in its activity in two weeks. 2 investment activities took place in the Blockchain industry this week, with Cobo Wallet receiving 13 million USD in round-A, the largest amount raised in the week.

1. Weekly Market Review
1.1 Market overview

This week, the overall market capitalization for the top 100 cryptocurrencies increased, with 78 projects increased in value to varying degrees. According to coinmarketcap, as of October 21st, 2018, the total market cap of the top 100 cryptocurrencies was 202.49 billion U.S. dollars, increased by 3.69% from last week, among which, RVN had the largest increased of 88.65%, while USDT had the largest decrease of 22.63%, and its market cap ranking clinched to No.91. In addition, there were 3 projects that entered TOP100, namely, RVN (increased 88.65%, now no.91), VERI (increased 72.81%, now no.97), and SALT (increased 50.84%, now no.98). As of October 21st, 2018, Bitcoin was traded at 6513.70 USD, 3.12% higher than its price last week. Ethereum was traded at 206.93 USD, 3.23% lower than its price last week.

The overall 24h trading volume increased this week. Overall, the 24h trading volume increased by 3.71% compared with the same period of last week. In this week, 23 of the top 100 projects increased by more than 50% in 24h trading volume, of which the highest was BTM, with an increase of 2180.44%; there were 9 projects declined more than 50%, of which the highest was GXS, decreased by 91.34%.

The top 10 cryptocurrencies’ market share distribution remained stable, with the market cap of 9 out of 10 projects received increased to varying degrees. On October 21st, the overall market cap of the top 10 cryptocurrencies was 184.92 billion USD, increased by 3.55% from last week, accounting for 84.92% of the total market capitalization of cryptocurrencies, similar to last week. 9 projects among Top 10 projects saw increase in their respective prices, except for USDT which had a decrease of 12.10%. BTC’s dominance was 53.59%, similar to last week.