Weekly market report #15, on the cryptocurrency sector

Weekly market report #15 on the cryptocurrency sector

Market report #15 on cryptocurrencies referring to the first week of January 2020.

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 #15, I first analyze the market data and then end up with this week’s news.

Market analysis

Analyzing the price on the main 13 cryptocurrencies by capitalization, going to Coingecko, let’s see what they have done this week.

The Top Ten Gainers against the dollarin in the first week of January 2020

As we can see from the image above, Bitcoin has remained unchanged over the previous week, at $ 7400 levels.

Ethereum, Bitcoin Cash, Bitcoin SV and Monero posted better performances than bitcoin 5.9%, 8.2%, 17% and 14.8% respectively.

Instead Ripple, Litecoin, Eos, Binance, Cardano and Tron, have had a stability around 1-2% compared to the past week.

The fund remained cautious this week except for some cryptocurrencies.

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Bitcoin’s Dominance is 68.2%, which has remained unchanged from the previous week which was 68.8%.

While market capitalization increased 1.3% over the previous week.

The total number of coins on the market is 6489, instead 401 are the Exchange present.

There has been an increase of 40 new projects and a new Exchange compared to the previous week.

Top Ten Gainers and Top Ten Losers

This week’s Top Ten Gainers against the dollar were:

The Top Ten Gainers against the dollar in the first week of january 2020

in this ranking we find BlockStamp, ETERNAL TOKEN, Micromines, etc., all projects with low capitalization and little known.

Instead in the Top Ten Losers of the week, compared to the dollar we find:

Top Ten Losers against the dollar in the first week of january 2020

We find in this classic Bank Coin, GNY, HBZ coin, etc., also with low capitalization and very significant losses.

While comparing the other coins with respect to bitcoin, we see what have been the best and worst of the week.

In the ranking of the Top Ten gainers compared to Bitcoin we find:

Top Ten gainers compared to Bitcoin in the first week of january 2020

There are BlockStamps, Micromines, Fire Lotto, etc., with very high performance compared to the performance of the BTC.

Instead in the Top Ten Losers compared to Bitcoin we find:

Top Ten Losers compared to Bitcoin in the first week of january 2020

As before, projects with low capitalization and which showed significant losses of around -30%.

While going on Messari Crypto, we can collect other data on the various coins.

As we can see in this image, Bitcoin ranks first for the number of active users followed by Ethereum classic, Ethereum and Litecoin.

Exchange

In this market report #15, exchanges and their trading volumes are also analyzed.

Let’s start by saying that there are 401 exchanges up to this week.

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 500 million dollars compared to the second.

At the second position we find Huobi, followed by UpBit, OKEx and Coinbase at the 7th 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.

Dapps

In this market report #15, 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.

weekly report on the dapps of the first week of january 2020.

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 3465.

The number of users is 53,577, an increase of 0.30% and the number of smart contracts is 15,332, an increase of 1.10% compared to the previous week.

News of the week

The news of the week related to the crypto sector.

1- Bitcoin exceeds $ 24,000 in Iran

Bitcoin exceeded $ 24,000 on the localbitcoins exchange platform in Iran.

In fact, Iranian residents are asking for about 1 billion Rials which would be around $ 24,000 for a single bitcoin.

The reason for the rise is not yet known, perhaps because the Iranians are preparing a war with the United States or their currency is in inflation.

Meanwhile, the government has restricted Iranian residents’ internet access.

2- Binance adds new trading pairs in Euros

Binance continues to invest and does so with the addition of Euro cryptocurrency pairs.

The company has said it will bring cryptocurrencies to the masses and intends to do so by adding 180 fiat currencies and purchases from two companies that will have a significant impact.

The added pairs are in BTC, ETH, XRP, BNB, USDT and BUSD against EUR.

In addition, cryptocurrencies can now be purchased on the platform using their Euros.

3 – The hard fork Muir Glacier on ETH

The Hard fork Muir Glacier on Ethereum ended this week, which follows that of Istanbul about a month ago.

This hard fork allows you to postpone the difficulty bomb that was to occur around the middle of the year.

In fact, as the difficulty increased, Ethereum was being prepared for the transition from POW to POS.

4 – Bitcoin's hash rate breaks a new record

In this week Bitcoin has exceeded the computing power on the network reaching 119.000.000 TH / s, making it even more secure.

The increase in computing power persists since the correction of the price of the BTC at the beginning of 2018 and continues to increase more and more.

The reasons for this rise may be due to the fact that there is an increasing interest of miners to undermine Bitcoin or the arrival of halving will bring about a reorganization of the power.

5 – Ripple unlocks 1 billion tokens

Ripple continues its investment plan and unfreezes approximately 1 billion XRP tokens from its escrow wallet.

According to the company, this maneuver will have to allow ripple to incentivize its users and keep them for its use.

The plan is to sell a total of 55 billion tokens on the first of each month for 55 months.

In fact, 2019 was a year where the company sold many of its tokens, making the price fall significantly compared to USD and BTC.

According to the company, the price is negligible for long-term use.

That’s all for this week, I’ll wait for you in the next article.

I also point out that I am present in:

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