Huobi Blockchain Big Data Weekly Insights Vol. 7

All data in this report was captured and analyzed by Huobi Research; please cite the source “Huobi Data Analytics Weekly” for reference.

Abstract

• On-Blockchain Data:

This week, the number of active Bitcoin addresses dropped from 4.21 to 3.52 million，of which the number of new addresses increased from 1.26 to 1.37 million, the highest in the past two months, and the number of reactivated addresses decreased 750,000 to 1.59 million. In addition, the total BTC trading volume decreased 1.3% to 6.40 million BTC, despite the total number of transactions increased 8.9% to 1.53 million. The average transaction volume dropped 7.9% to 4.18 BTC. This week, the number of large transactions on BTC network decreased slightly from 400 to 380. The total volume of transactions worth between 100 and 1,000 BTC accounted for 33.89% of all BTC transactions (31.2% last week). There were five top 30 Bitcoin addresses with significant change in balance, including 3 net inflows and 2 net outflows this week.

The number of active address in ETH increased 28.1% from 1.21 to 1.57 million, rising for two consecutive weeks. The overall ETH transaction volume increased 19% to 10.97 million ETH, ending the downward trend for four consecutive weeks. The total number of transactions increased 20.5% to 4.99 million. The overall transaction fee decreased from 22,000 to 11,000 ETH, and average transaction fee decreased 60% to 0.0021 ETH this week, the lowest in two months. Concentration of wealth on ETH network increased slightly. There was only one extra-large transaction on ETH network this week.

• Social Media Data:

BTC, ETH, and EOS were the top trending cryptocurrencies in China, while BTC, ETH, and Ripple were the top trending cryptocurrencies overseas. In the Events category, “Risk”, “Dividend” and “ETF” were the hottest words in China, while “ETF”, “Bot” and “SEC” were the hottest overseas; in the Exchange and KOL category, “Huobi”, “OKEX” and “Fcoin” were the hottest in China, while “Coinbase”, “Binance” and “Satoshi” were the hottest overseas. BTC, ETH and EOS were the most active projects on GitHub with the most added and accumulated Stars and Forks. Search for Cryptocurrency-related keywords has significantly increased on Baidu and Google.

• Market Trading Data:

The price of most top 10 Cryptocurrencies experienced increase to various degrees, with IOTA having the biggest decreased of 9.2% and Stellar having the biggest increase of 28.9% in price. In terms of price volatility, BTC had the lowest volatility of 0.0031 s.d. while Stellar had the largest volatility of 0.0089 s.d. EOS has the largest turnover of 52.7% and Stellar has the smallest turnover of 5.4%. There was a high correlation between all top 10 Cryptocurrencies this week except for BTC and Stellar.

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