Market report # 10 on cryptocurrencies referring to the last 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 last week of November with the release of updates on the sector.
In this market report # 10, I analyze the market data first and then finish with this week’s news.
As we can see from the image above, Bitcoin during the week remained stable compared to the previous week, at levels of $ 7200.
The same goes for the remaining crypts such as Ethereum, Bitcoin cash, Litecoin, which achieved the same performance as the bitcoin, all almost on parity.
For Tron instead and cardano there was an increase of 5.1% and 3.6% compared to the previous week.
This week is not so striking that it has moved on low volatility compared to the previous week.
Bitcoin’s Dominance is 66.2%, unchanged from the previous week which was 65.9%.
While the market capitalization has increased by 2% compared to the previous week.
The total number of coins on the market is 6204, while 397 are the Exchange present.
There was an increase of 48 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 Everus, Hxro, SpaceChain, 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 CloakCoin, PAC Global, Soverain, 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 Hxro, Datawallet, SpaceChain, 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 Dash.
Exchange reports and their trading volumes are also analyzed in market report # 10.
Let’s start by saying that there are 398 Exchange until this week’s market report # 10.
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 600 million dollars.
Coinbase has dropped some positions, and in second place we have Huobi and Upbit.
But this is a 24-hour figure, which, referring to a week, does not yet contain normalized data.
In this market report # 10, 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 3382.
The number of users is 56.555, an increase of 11.97% and the number of smart contracts is 14,881, an increase of 0.26%.
News of the week
The news of the week related to the crypto sector.
1- Poloniex acquires the Dex of Tron
According to the news on cointelegraph, it seems that the well-known Exchange of cryptocurrencies has acquired the internal dex of Tron.
Now the exchange holds the largest decentralized exchange on Tron, now called Poloni Dex.
This is good news for Tron in the long run
2- Bit Pay removes Monero
The Bitpay Exchange removes Monero in its platform due to the money laundering linked to this cryptocurrency.
The announcement arrived November 25 announcing that:
Monero (XMR) can selectively use anonymity features. This feature of XMR has prompted us to terminate transaction support. The decision was taken to block potential money laundering and inflows from external networks. “
This is a blow to Monero because it could lead to less adoption and exchange.
3- Russia could prohibit cryptocurrency payments
According to a report published on November 29 by Izvestia, central regulators are considering suspending cryptocurrency payments.
This is because in Russia, they are used to pay for goods or services, but according to regulators, they are also used as money laundering.
If a law is promoted to restriction, in Russia it could be difficult to use cryptocurrencies.
4- Germany is making a bill for cryptocurrency distribution
According to the local press agency, Handelsblatt, a law was proposed in Germany in which banks can sell Bitcoin and other crypto.
This could be the beginning when a major state recognizes cryptocurrencies.
The bill must only be accepted by the 16 states and may enter into force.
It is expected in 2020 that banks will be able to sell cryptocurrency together with classic assets.
5- According to Jack Dorsey, Africa will be able to decide the fate of cryptocurrencies
Twitter creator Jack Dorsey believes that Africa could be decisive for the development of cryptocurrencies.
In fact, Africa represents a good slice of the market when a city like Lagos is expanding at a high rate counting 30 million people in 2030.
Moreover, this country is supporting cryptocurrencies very favorably, especially South Africa.
This is because their coins have little value and have a high level of inflation.
That’s all for this week, I’ll wait for the next article.