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BitSTD Weekly Report, No.4

2018-08-28 18:40:57 source: https://www.bitstd.org/#/informationCenter Author: BitSTD Team


Summary

BitSTD Weekly Report helps readers to get hold of the market trend by analyzing the information from the overview of digital assets market, the progress of major blockchain projects important news on blockchain. The research cycle is from August 20, 2018 to August 27, 2018.

 

Market Overview

Taking 0 o’clock every Monday as the statistical object, the spot index is 881.48 on August 20, 886.89 on August 27, with a slight jump of 5.41 points, or 0.61 percent. The index has recovered since the trough of 804.97, hovered for a week, though it has been down for 4 full weeks from 1127.77 on July 30 to 886.89 on August 27. 


 


Figure 1. BitSTD weekly chart

 

The space has seen a selling last week as a host of we-media were banned. Nonetheless, the policy has little influence on the market for the index has a subtle up.

As for the adoption of technology, World Bank announces to clear the first bond issued based on Ethereum, which is a big step forward. However, Ethereum itself has some technical problem, making the application prospect blurred.  

Looking from the market sentiment, the future 15-minute line is under the spot, showing more bearish sentiments. According to the Fear Index on aicoin, it is extreme fear at the time.

In view of the aforementioned information, BitSTD Index shows the trends of the global digital asset market. The domestic policies contribute slightly to the index, while the large amount of capital in the global market have a meaningful impact on it. The market is prevailed by the fear there are hardly surges of the cryptocurrencies by value in the future.


Figure 2. BitSTD Spot-Alcoin K line



Figure 3. BitSTD 15-minute line

 

According to coinmarketcap, total market capitalization of all cryptocurrencies is at around $215 billion at 0’clock August 27, down around 0.035 percent, compared to $215 billion August 20, down almost $70 million from its plummet to $202.9 billion August 23.



Figure 4. Total market capitalization. Source: CoinMarketCap

 

According to CoinMarketCap, the top 10 coins by trading volume are basically those of the largest market cap. ETC are seeing upswing, QTUM as well as TRX is replaced by ONT listed among the top 10 by trading volume. The data shows that major cryptocurrencies have the better liquid, thus they are the better choice for buyer.

 



Figure 5. Top 10 cryptocurrencies 24h volume

 

Huobi Exchange launches SBTC trading, leading a surge in the coin making it listed the top 10 changes in trading.



Figure 6. Top 10 up coins

 



Figure 7. Top 10 down coins

 

The data shows that the severe volatilities come from the unknown altcoins featuring low ranks in market cap trading volume. Such digital assets are skyrocketing plunging with great risks, for which investors should pay attention avoid them.

 

The average 7-day hash rate is 47.55EH/s, down 3.14 percent compared to 49.09EH/s last week.



Figure 8. Bitcoin 7-day hash rate. Source: blockchain.info/charts

 

The Ethereum hash rate is 288.84TH/s, up 1.77 percent compared to283.82TH/s last week.



Figure 9. Ethereum hash rate. Source: etherchain.org/charts/hashrate

 

Both Bitcoin Ethereum have slightly gained the difficulty in mining, up 1.42 (6.45T, 6.36T) percent 2.88 (3.57P, 3.47P) percent respectively.



Figure 10. Bitcoin 7-day average mining difficulty.

 



Figure 11. Ethereum 7-day average mining difficulty.

 

Project Progress

The recent search trends of bitcoin go down both in Baidu Google. Baidu trend drops 11%.



Figure 12. Bitcoin search trend in Baidu.

 



Figure 13. Bitcoin search trend in Google.

 

Also, the recent search trends of Ethereum plummet both in Baidu Google, down 24 percent 7.7 percent respectively.



Figure 14. Ethereum search trend in Baidu.

 



Figure 15. Ethereum search trend in Google.

 

There are 5 investment on blockchain this week with a drop of 58.3% in the heat compared to the 12 projects last week. According to published news, no one is over $5 million except the investment of Atlas Protocol (ATP) led by Softbank China Venture Capital (SBCVC), which is above $ 10 million.

ATP is incubated by Nebulas Labs the xGoogler Blockchain Alliance (xGBA). The startup intends to develop blockchain-based solutions to improve interactive advertisement. Its new blockchain-powered creative media model aims to determine the interactive marketing practices among users, advertisers, publishers.

This week the investment heat slides further, indicating blockchain space is back-to-basics.



Figure 16. Investments on the week. Source: www.qichacha.com

 

Weekly Newsflash

The official accounts of BiShiJie, JinSe Finance other media are banned on WeChat.

http://www.bitol.net/bikuaixun/3537/

 

US: Regulators should release their crypto assets.

http://www.bitol.net/bikuaixun/3554/

 

Alipay: Formally banned cryptocurrency OTC trading

http://www.bitol.net/bikuaixun/3556/

 

Five China authorities including the China Banking Regulatory Commission: Prevent from the fraud on virtual currency or blockchain.

http://www.bitol.net/bikuaixun/3558/

 

The local gove