Market report #9 on cryptocurrencies referring to the 4th week of November 2019.
Like every week, I do this market report to get a picture of the situation.
This report analyzes the market trend in the 4th week of November with the release of sector updates.
In this market report #9, I analyze the market data first and then finish with this week’s news.
As we can see from the image above, the Bitcoin in the week, lost a -15% compared to the previous week, returning to the levels of $ 6500.
Red week, which brought the market into a panic.
Bitcoin’s Dominance is 65.9%, unchanged from the previous week which was 65.7%.
While market capitalization has decreased by 14% compared to the previous week.
The total number of coins present on the market is 6156, while 398 are the Exchange present.
There was an increase of 35 new projects and a decrease of 1 Exchange compared to the previous week.
Top Ten Gainers and Top Ten Losers
This week’s Top Ten Gainers compared to the dollar were:
in this ranking we find Omnitude, MIR COIN, SoMee.Social, etc., all projects with low capitalization and little known.
Instead in the Top Ten Losers of the week, compared to the dollar we find:
We find in this classic Fiii, CloakCoin, Bionic, etc., also with low capitalization and very significant losses.
While comparing the other coins to bitcoins, let’s see which ones were the best and worst of the week.
In the Top Ten gainers ranking compared to Bitcoin we find:
There are Omnitude, MIR COIN, GameCredits, etc., with very high performances compared to the performance of the BTC.
Instead in the Top Ten Losers compared to Bitcoin we find:
As we can see in this image, bitcoin ranks first in number of active users followed by Ethereum classic, Ethereum and Stellar.
Exchange reports and their trading volumes are also analyzed in market report #9.
Let’s start by saying that there are 398 Exchange until this week’s market report #9.
Analyzing the daily volumes, the Top Ten with normalized data are:
As we can see the Exchange with higher volumes is always Binance which compared to the latter has a difference of almost 400 million dollars.
Coinbase has risen by some positions, and bitfinex has lost 3rd place.
But this is a 24-hour figure, which, referring to a week, does not yet contain normalized data.
In this market report #9, the report on dapps (decentralized applications) is inserted.
The data is taken from the Dapp review website, and analyzes the various most important smart contract platforms in the industry.
As we see in the image above, the platform with the largest users in the last 7 days is Tron followed by Eos and Ethereum.
The trading volume is controlled by Eos followed by Tron and Ethereum, whereas the number of dapps active on the market is 3365.
The number of users is 50.507, down 25% and the number of smart contracts is 14.841, up 0.30%.
News of the week
The news of the week related to the crypto sector.
1- Ubisoft becomes an Eos block producer
According to the news on cointelegraph, it seems that the company, creator of video games, has partnered with UOS based on blockos Eos.
The company wants to grow in this sector and wants to take advantage of blockchain technology to make more progress.
The Ubisoft director stated that:
“During this first period of collaboration, we hope to help them bring the platform to a large scale and experience the possibilities it opens up for the sector.”
2- German bank introduces negative rates
In Germany, a bank introduced negative interest rates on its smaller customers’ accounts to keep their money.
This is because the banks have to stay with European politics that is introducing this concept to cope with an increasingly inflationary monetary policy.
According to Pompliano, in tweet he stated that:
“FUEL FOR ROCKETS: they will cut interest rates and print money, just as we get closer to halving Bitcoins. Fasten your seatbelts, things will get interesting🚀“
Surely this approach is bad for the traditional system and someone starts looking at Bitcoin with other eyes.
3- The federal reserve evaluates a digital dollar
The US Federal Reserve Director told an interview that they are considering a CBDC (central bank digital currency).
We are experimenting with this hypothesis, conducting small-scale experiments.
Obviously this is only a hypothesis, but if it has come to this it means that something is cooking.
4- China wants to bring the national currency by the end of 2020
According to the partner of the blockchain investment fund, Edith Cheung, said that within 6 or 12 months the digital yuan will be launched.
China has been working on this currency for some time, but the government still does not have a precise launch date.
Furthermore, Cheung has expressed his opinion that the global powers absolutely have to launch their own digital version of their own currency.
Furthermore, again this month, according to Jack Lee, managing partner of HCM Capital, said that it is a matter of months and the currency will be launched.
That’s all for this week, I’ll wait for the next article.