Market report # 11 on cryptocurrencies for the first week of December 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 # 11, 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 remained stable compared to the previous week, at levels of $ 7500.
Instead for Litecoin, Stellar, Cardano and Tron there was a red of – 3.1%, -9.7%, -4.5% and -5.3% respectively.
This week was not so striking that it moved on the basis of the previous week.
Bitcoin’s Dominance is 66.7%, unchanged from the previous week which was 65.5%.
While the market capitalization has decreased by 1% compared to the previous week.
The total number of coins present on the market is 6246, while 398 are the Exchange present.
There has been an increase of 42 new projects and an increase 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 Fiii, Nexxo, ProChain, 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 Bitether, Scanetchain, Boldman Capital, 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 Nexxo, ProChain, FSBT API Token, etc., with very high performance 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 Tron.
Exchange reports and their trading volumes are also analyzed in market report # 11.
Let’s start by saying that there are 397 Exchange until this week’s market report # 11.
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 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 # 11, 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 3404.
The number of users is 53,863, down 5% and the number of smart contracts is 14,989, a decrease of 0.72%.
News of the week
The news of the week related to the crypto sector.
1- A new bitcoin futures fund for institutions
A new Bitcoin investment fund for institutions has been approved by the SEC.
This fund created by the Bitcoin Strategy Fund of the NYDIG group will offer Bitcoin based Futures.
The company will allow you to manage capital that can be invested in Bitcoin.
2- France near a cryptocurrency
According to the French site Les Echos, France will test a central bank digital currency (CBDC) in the first quarter of 2020.
This trial will lead to the formation of a cryptocurrency intended only for the private financial sector and not for retails.
The central bank wants to try to bring better efficiency in financial transactions.
If everything goes well, France will become the first nation to issue this type of cryptocurrency.
3 – Istanbul Hard fork on Ethereum
At the 9,069,000 block of the Ethereum network, the 3rd Hard fork of 2019 and the 9th in the history of Ethereum were validated.
This update will improve the network but above all will prepare the platform for the transition from POW to POS.
It will also allow the network to be more scalable and with low gas charges.
The transition from the POW to the POS should take place in 2021 but nothing remains that could occur earlier.
4- Mnuchin agrees on LIbra
According to the US Treasury Secretary, Steve Mnuchin, the Facebook project called Libra, can be accepted but will have to follow the rules.
As stated, if facebook wants to create a digital currency then they must comply with the rules.
In 2019 the project to create a stabelcoin that will be used in daily online transactions was unveiled.
From the announcement, facebook and Mnuchin met several times to discuss it, slowing development and launch.
But this could change as more companies are creating digital currencies globally and this could be a problem for the United States.
We just have to wait for developments on this topic.
That’s all for this week, I’ll wait for the next article.