Weekly market report # 16, on the cryptocurrency sector

Weekly market report #16, on the cryptocurrency sector

Market report #16 on cryptocurrencies referring to the second 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 second week of January with the release of updates on the sector.

In this market report #16, 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 second week of January 2020

As we can see from the image above, Bitcoin has increased by 10.5% in the past week reaching the levels of $ 8100, margin levels for miners.

Same thing for the remaining cryptocurrencies where this week saw an average increase of 10%.

Ethereum, XRP, Binance coin, Cardano and Tron have performed around 10%.

Instead Bitcoin Cash, Litecoin and Eos had a sharp rise between 15 and 20%.

As for Bitcoin SV, this cryptocurrency is always the center of attention and especially of speculation, marking an additional 45%.

In this week the sector has increased gaining confidence.

market capitalization in the second week of january 2020

Bitcoin’s Dominance is 68.31%, which has remained unchanged from the previous week which was 68.2%.

While market capitalization increased 8.66% over the previous week.

The total number of coins on the market is 654, instead 401 are the Exchange present.

There has been an increase of 54 new projects and no 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 second week of january 2020

in this ranking we find Zap, Gexan, Presearch, etc., all projects with low capitalization and linked to speculation.

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

We find in this classic Bounty0x, VeriDocGlobal, Omnitude, 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:

There are Zap, Gexan, Presearch, etc., with very high performances 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 second week of january 2020

As before, projects with low capitalization and which showed significant losses of around -80%.

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

ranking of the best crypto in the second Week of january 2020 by number of active users.

As we can see in this image, Bitcoin has fallen to second place, in first place for the number of active users there is Digibyte followed by Ethereum, Dash and Dogecoin.

Exchange

In this market report #16, 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:

Top Ten of the exchanges in the second week of january 2020 with normalized data

As we can see, the Exchange with higher volumes is always Binance which has a difference of almost 700 million dollars compared to the second.

At the second position we find Huobi, following UpBit, OKEx and Coinbase at the 7th position which remained unchanged compared to the previous week.

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 # 16, 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 Ethereum which overtakes Tron followed by Eos.

The trading volume is controlled by Eos followed by Ethereum and Tron, instead the number of dapps active on the market is 3501.

The number of users is 68,392, an increase of 27% and the number of smart contracts is 15,438, an increase of 1.00% compared to the previous week.

News of the week

The most important news of the week related to the crypto sector.

1- The US lose the primacy for transactions in BTC

According to a cointelegraph article, the United States of America is reported to have lost primacy for Bitcoin transactions.

In fact, the nation that had been at the top for 5 consecutive years was overtaken by Singapore with 7.48 billion BTC.

This is due to the fact that, these transactions were received in Exchange dealing with derivatives such as BitMEx.

Just the USA, are in the low ranking for minors Exchange in their territory and this penalizes them a lot.

The fact is that the cryptocurrency market is moving out of the US precisely because they do not support the sector.

2- We will soon see China's CDBC

According to the press release of the local newspaper Sina, the Chinese central bank has completed the design of the main layer of its central bank digital currency.

In fact, according to some news of the end of 2019, the central bank was very close to the launch of the digital yuan, communicating that it was to be launched soon.

So the development is proceeding as planned, are the words of the bank and soon we should see the CBDC in place.

2020 will be the year of the CBDC, or perhaps it will be the beginning of this trend, we just have to follow the news.

3 – The President of the ECB is in favor of the CBDC

Christine Lagarde, president of the European Central Bank, says that Europe has a key role in the economy, above all we need to approach blockchain technology.

In fact, he stresses that geopolitical risks, problems in trade could affect the European economy.

By creating a digital currency there would be a development that will benefit the whole European economy.

If you look, you only have time and opportunity losses.

The fact is that Europe continues to evaluate the development of a digital Euro, perhaps 2020 will be the year of the decision, all that remains is

seguire gli sviluppi in merito.  

Per questa settimana è tutto, vi aspetto al prossimo articolo.

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