Market report #13 on cryptocurrencies referring to the third 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 #13, I first analyze the market data and then end up with this week’s news.
As we see from the image above, Bitcoin has remained unchanged over the previous week, at $ 7100 levels.
In this week there was a transfer of the market in general on all cryptocurrencies.
Bitcoin’s Dominance is 68.3%, which has remained unchanged from the previous week which was 65%.
While market capitalization fell 1.7% from the previous week.
The total number of coins on the market is 6440, instead 400 are the Exchange present.
There has been an increase of 130 new projects and no new exchanges since the previous week.
Top Ten Gainers and Top Ten Losers
This week’s Top Ten Gainers against the dollar were:
in this ranking we find BuySell, HTMLCOIN, BitScreener Token, 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 Hydro Protocol, Zenswap Network Token, Nollar, etc., also with low capitalization and very significant losses.
While comparing the other coins with respect to bitcoin, let’s see what have been the best and worst of the week.
In the ranking of the Top Ten gainers compared to Bitcoin we find:
There are BuySell, Truegame, Bitblocks, 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 is in first place for the number of active users followed by Ethereum classic, Ethereum and Dash.
Market report #13 also analyzes exchanges and their trading volumes.
Let’s start by saying that there are 400 exchanges up to this week in market report #13.
Analyzing the daily volumes, the Top Ten with normalized data are:
As we can see, the Exchange with higher volumes is always Binance which has a difference of almost 300 million dollars compared to the second.
In the second position we find UpBit, followed by OKEx, Huobi, Coinbase in 5th position.
But this is a figure for 24 hours, which, referring to a week, there are still no normalized data.
This data is taken from the Blockchain transparency institute website.
In this market report #13, the report on dapps (decentralized applications) is inserted.
The data are taken on the Dapp review site, and analyze the various most important smart contract platforms in the sector.
As we see in the image above, the platform with the most 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, instead the number of dapps active on the market is 3444.
The number of users is 45.080, a decrease of 23% and the number of smart contracts is 15.106 15.039, a decrease of 0.44%.
News of the week
The news of the week related to the crypto sector.
1- SBI will invest in the Stuttgart stock exchange in digital assets
The Japanese financial services giant, SBI, has partnered with Germany’s second largest exchange, that of Stuttgart.
Exactly, SBI will invest an unspecified sum, which will be used to buy digital assets.
This will serve, according to the company, to increase the demand for these products in Europe.
2- Use email to make Bitcoin transactions
The system patented by Coinbase in 2015 was approved this week by the United States Patent and Trademark Office (USPTO).
This system created by the CEO of coinbase Brian Armstrong, allows you to make a zero commission transaction in Bitcoin simply by using an email.
It consists in connecting a bitcoin wallet to an email address, in a system, i.e. the email address will recall the wallet and start the transaction.
Here you can find the detail of the Coinbase CEO patent and the image below the diagram.
3 – The United States Congress has a new bill to classify cryptoassets
A congressman presented a bill that classifies digital assets called the “Crypto-Currency Act”.
In this bill, three types of classification are proposed:
- crypto-commodities which are economic goods or services stored on blockchain;
- crypto-currencies represent blockchain-based products such as stablecoin;
- crypto-securities are all blockchain-based debt, equity and derivative elements.
Each of the asset types fall into a regulator category.
What is certain remains to be seen whether the proposal will enter into force.
4- Cardano's testnet started
During the week, Cardano’s testnet called Shelly was launched.
This phase will help developers understand the errors or bugs that may arise during the operation of the actual blockchain.
The development proceeds from the roadmap, and the network will always run smoothly.
Details on how to participate in the test phase can be found here.
That’s all for this week, I’ll wait for you in the next article.