The mainstream currency computing power has remained at a high level in the past six months, and the currency with lower growth rate may have a compensatory increase demand.
First, weekly industry dynamics
1. At present, the total market value of the encrypted goods market is 275.41 billion US dollars, up 10.27% compared with the previous week;
2. The volume of the entire cryptocurrency market in the last week was 626.319 billion US dollars, up 21.11% compared with the previous week's 517.147 billion US dollars, which was 4.47% lower than the volume of 655.641 billion US dollars two weeks ago.
3. Japanese communications giant LINE officially released the official version of the future forecasting platform 4CAST;
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4. Block.one launches the social media application Voice and distributes the Voice Token;
5. Bitfinex announced the launch of EOS-based stable USDT on the EOS blockchain. In addition, they are considering issuing USDT on the Lightning Network;
6. The governor of the Russian central bank opposed the legalization of cryptocurrency, saying that it was risky and volatile. At present, Russia's largest bank, Sberbank, has suspended its cryptocurrency plan.
Second, the trading market
In the past week, the total market value of the cryptocurrency market hit another half-year high, reaching 279.803 billion US dollars on May 30. The total transaction volume increased by 21.11% compared with the previous week, but it was down 4.47% compared with the highest point in the recent week.
Source: CoinMarketCap
It can be seen that in the past week, EOS, BSV and TRX transactions surged year-on-year, of which EOS transaction volume increased by 90.24% year-on-year, BSV transaction volume increased by 97.79% year-on-year, and TRX transaction volume increased by 63.83% year-on-year. The price of these three currencies is higher.
Mainstream currency exchange prices and trading volumes
Third, mining situation
As shown in the following figure, it can be seen that with the rise of the currency price, the computing power of ETH, LTC, BCH and BSV has continued to rise, and the current accounting power of all major currencies has remained at a high level in the past six months. In addition, some cryptocurrencies with lower market value growth in the previous period began a new round of upswing. In the case of BTC price volatility, the price of ZEC increased by 18% in one week, and the price of ETC rose by 25% in one week.
Nearly March BTC network computing power
Nearly March ETH network computing power
LTC full network computing power in March
Nearly March DASH network computing power
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 JRR 30 index trend
According to the latest data released by the JRR Institute, as of 17:00 on June 3, 2019, the JRR 30 index closed at 4,435.08 points, a one-day increase of 0.96%. Since the establishment of the JRR 30 Index on January 1, 2017, the cumulative rate of return has been 4253.08%, while the cumulative rate of return of BTC in the same period was 757.76%, and the cumulative yield of ETH was 3207.59%. In the past week, the JRR 30 index has fallen by around 1.17%.
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 most recent week was 177.638 billion US dollars, up 14.28% compared with the previous week's 155.487 billion US dollars. USDT's average daily turnover in the past week was 24.896 billion US dollars, accounting for 98.08% of the stable currency transaction volume, which is basically the same as the previous week's 97.68%. The second and third stable currencies were TUSD and PAX. The average daily turnover in the past week was US$232 million and US$153 million respectively. Compared with the previous week, the TUSD volume increased by 10.59%, and the PAX volume decreased. 2%. In addition, USDC's average daily trading volume for the past week was US$114 million, down 25.5% year-on-year, which was a significant drop from the previous week.
Source: Coinmarketcap
Six, DApp list
In the past week, DAU ranked Top 100's various DApps as follows.
Source: DappRadar
Seven, the market summary
In the past week, the total market value of the cryptocurrency market hit another half-year high, reaching 279.803 billion US dollars on May 30. At the same time, the volume of several mainstream cryptocurrencies represented by EOS, BSV and TRX surged year-on-year, and the volume of transactions rose sharply. The prices of these three currencies have been pushed up, and the current calculations of all major currencies have remained at a high level in the past six months. In addition, some cryptocurrencies with lower market value growth in the previous period began a new round of upswings, such as ZEC rose 18% within a week, ETC rose 25% within a week.
Note: This article only represents the author's own views and does not constitute any investment advice.
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