Research: There has been two decoupling of the exchange rate of encrypted assets; the exchange rate of the altcoin and the decoupling of bitcoin or due to the high volume of transactions

The Coin Research Institute published on Weibo, "Is the transaction volume high? Two "decoupling" of the exchange rate of encrypted assets. Based on Coinmarketcap's data, Altcoin now has a daily turnover rate of around 50%. It can be easily understood that half of all cryptographic assets except Bitcoin will change hands in a day. This turnover rate is much higher than the 0.4% to 1.5% level of A shares. But in fact, this is not the case before March 2017. As the main stock market with the highest proportion of retail investors in the world, China A-shares have a much higher turnover rate than developed countries. The overall turnover rate of crypto assets was close to A-shares before March 2017, but with the arrival of the unprecedented bull market, the former's turnover rate jumped to more than ten times that of A-shares. After March 2018, Altcoin's turnover rate and Bitcoin decoupling, the former changed hands to 35%-60% daily, while Bitcoin was 5%-20%, corresponding to the Shanghai Stock Exchange A shares of about 0.4%-1.5% . This represents two possibilities, or that Altcoin's trading volume is illusory, or that its participants' structure and behavior patterns have changed significantly in the short term.