LTC's total network computing power has dropped significantly for the first time after reaching a four-month high this month.

First, weekly industry dynamics

1. As of today, the total market value of the encrypted goods market is 172.337 billion US dollars, down 2.72% compared with the previous week;

2. The volume of the entire cryptocurrency market in the past week was US$330.51 billion, up 9.04% from the previous week's volume of US$303.116 billion, down 5.20% from the volume of US$348.629 billion two weeks ago.

3. Bitwise, the data provider of the NASDAQ Research Platform, announced that in view of the negative public opinion caused by the New York Attorney General’s fraudulent prosecution against Bitfinex, after voting, it decided to shift the reference exchange of its price index. Except Bitfinex;

4. Dapper Labs, the developer of CryptoKitties, the Ethereum cat game, announced the launch of the smart contract wallet Dapper, which supports account recovery, fraud protection and intelligent management of fees;

5. OKB announced the launch of the ERC 20 network and will transfer it from the ERC 20 network to the OKChain main network after the OKChain test network is stable.

Second, the trading market

In the past week, the cryptocurrency market continued to rise and fall sharply in a short period of time, while at the same time it fluctuated within a narrow range of time. At the same time, we can see that the current market capitalization has slightly decreased, but the total transaction volume has slightly recovered. It rose about 9% in the previous week.

Source: CoinMarketCap

In the past 7 days, except for BTC and BNB, the prices of other major mainstream currencies have faced different degrees of decline, especially BCH, EOS and XLM, the largest decline, more than 10%. In addition, unlike the BTC's increase in volume, the BNB price is rising while the trading volume has decreased, and it may be adjusted in a short time.

Mainstream currency exchange prices and trading volumes


Source: CoinMarketCap

Third, mining situation

As shown in the figure below, it can be seen that the BTC and ETH calculations have maintained a volatile trend in the past week. In addition, since the Wright currency halved in December last year, the LTC price has risen from a minimum of 22.32 US dollars to a maximum of 98.5 US dollars, an increase of 341.31%, while LTC's total network computing power increased from a minimum of 146.21 Thash / s to a maximum of 371.92 Thash / s. However, since the LTC calculation power reached the highest point in the past four months on the 15th of this month, there has been a clear downward trend for the first time. At the same time, the total network computing power of BCH and BSV, which were concerned by public opinion in the early stage, showed a downward trend.

Nearly March BTC network computing power

Nearly March ETH network computing power

LTC full network computing power in March

The network computing power of BCH and BSV in recent March

Source: Bitinfocharts

Based on the electricity cost of 3 Mao and the cost parameters of mainstream miners, the estimated number of days of the current major currencies is as follows:

Data source: JRR measurement

 

Fourth, the JRR30 index trend

According to the latest data released by the JRR Institute, as of 18:00, April 29, 2019, the JRR30 index closed at 2790.49 points, a one-day drop of 0.51%. The cumulative yield of the JRR30 index in recent March was 49.51%, while the cumulative yield of BTC in the same period was 38.28%, and the cumulative yield of ETH was 48.96%. The cumulative yield of the JRR30 index since its establishment on January 1, 2017 is 2690.49%, while the cumulative yield of BTC is 429.40%, and the cumulative yield of ETH is 1825.34%. In the past week, the JRR 30 index has fallen by about 6.88%.

V. Stabilizing the situation of the currency

We have chosen to observe the trading situation of stable currency in the past week. We can see that the total turnover of stable currency in the past week was US$93.90 billion, up 10.61% from the previous week's US$849.74 billion. USDT's average daily turnover in the past week was 13.145 billion US dollars, accounting for 97.90% of the stable currency transaction volume, which was slightly lower than the previous week. The second and third stable currencies were PAX and TUSD. The average daily turnover in the past week was US$117 million and US$101 million respectively. Compared with the previous week, the TUSD volume increased by 28.63%, and the PAX volume increased. 56.22%.

Source: Coinmarketcap

Six, DApp list

In the past week, the DAU's Top 100 DApps have continued the past and there has been no significant change.

Source: DappRadar

 

Seven, the market summary

In the past week, the cryptocurrency market has continued to rise and fall in a short period of time, while at the same time it has a narrow range of shocks for most of the time. At the same time, we can also see that the current market capitalization has declined slightly, but the total transaction volume has picked up slightly. , about 9% more than the previous week. In addition, since the Wright currency halved in December last year, LTC's net computing power has reached a four-month high on the 15th of this month, showing a clear downward trend for the first time.

Note: This article only represents the author's own views and does not constitute any investment advice.

(Source: JRR Institute)