Preheating before the arrival of the flood season? Multiple cryptocurrencies hit a new high of nearly three months JRR Research Follow Apr 3, 2019 · 5 min read

Weekly Industry News

1. The total market value of the cryptocurrency market is $144.18 billion (as of March 31, 2019), a slight increase of 2.82% compared with the previous week;

2. The total volume of the cryptocurrency market in the most recent week was $237.52 billion, an increase of 8.7% compared with the previous week;

3. A theft occurred in the well-known Korean exchange Bithumb. According to the official announcement, the incident was committed by insiders;

4. OK Group invested in a US trust called Prime Trust and plans to launch OKChain-based stable coin OKUSD. Prime Trust focuses on blockchain and has the qualification to issue compliance stable coin;

5. Alipay officially launched the “Future Hospital”, among which blockchain technology is one of its five core strategies.

Exchange Market

As shown in the figure, since February, the total market value and trading volume of cryptocurrency have maintained a rising trend, and the trend has not changed in the past week.

In the past 7 days, most mainstream cryptocurrencies have performed well, and both the price and the trading volume have sent a positive signal. It can be seen that in the past week, the trading volume of EOS and MKR increased significantly, the trading volume of EOS increased by nearly 50%, and the trading volume of MKR increased by more than 100%. In addition, the trading volume of BSV decreased significantly.

Mining

According to the Hashrate data in the past three months, BTC’s Hashrate is currently maintaining a volatile upward trend. ETH’s Hashrate hit a new low of three months, while the Hashrate of LTC, Dash and BCH reached a new high of three months. In addition, the Hashrate gap between BCH and BSV has not continued to widen in the past week, and we will continue to track the trend.

Based on the current electricity cost (4.5 cents/kWh) and the cost parameters of mining machine, we estimated the number of days it takes for mining to cover costs:

JRR 30 Index

According to the latest data of JRR 30 index, JRR 30 index closed at 2,545.39 points today, up 0.28% on the day. The cumulative yield of the index in the past month is 9.97%, while the cumulative yield of BTC in the same period is 6.51%, and the cumulative yield of ETH is 2.48%. From January 1, 2017 to now, the cumulative yield of JRR 30 Index is 2354.39%, while the cumulative yield of BTC in the same period is 311.23%, and the cumulative yield of ETH is 1632.07%. Compared with last week, the JRR 30 index increased by 3.25%, the BTC price increased by 2.07%, and the ETH price increased by 3.30%.

Stable Coins

We can see that the total trading volume of stable coins in the past week (from March 25 to March 31) was $64.93 billion, up 5.75% compared with $61.40 billion in the previous week. The average daily trading volume of USDT in the past week was $9.15 billion dollars, accounting for 98.68% of the stable coins trading volume, which was higher than the previous week’s data (that is 98.04%). The second and third stable currencies in terms of trading volume are PAX and TUSD. The average daily trading volume in the past week was $55.99 million and $34.19 million, respectively. Compared with the previous week, PAX’s trading volume decreased by 3.25%, while TUSD’s trading volume fell by 22.95%. In addition, the daily trading volume of GUSD has decreased this week, it is currently around US$4.68 million, down by 46.90% from last week’s data.

DApp Situation

This week’s DApp list is basically the same as last week’s data. DApps based on EOS and TRON aount for the mainstream of the list. In addition, a large number of high-risk DApps based on TRON are still the majority on the list, accounting for 16% of the Top 100 DApps.

Summary

Since February, the total market value and trading volume of cryptocurrencies have been maintaining a rising trend. Although there is a large amplitude, the overall upward trend has not changed. In addition, JRR Research observed that with the arrival of the flood season, several cryptocurrencies with a relatively large increase in Hashrate in recent months, such as LTC, Dash and BCH, their prices have shown significant gains since the beginning of this year. Among them, LTC recently increased by more than 100%, while Dash and BCH increased by more than 30%.

About Us

Headquartered in Switzerland, JRR Crypto is the world’s leading eco-industrial group that lays the blockchain industry ecology and encrypts digital currencies. The Group has completed the early investment and layout of more than 40 blockchain quality projects in the primary market. The business sector covers the public chain, payment, wallet, media, exchanges, cross-chain technology, etc., focusing on the head projects in various fields. Some of our investment cases include: the famous exchange Binance, the corporate wallet Tokenonly, the blockchain eco-service Blockchainer, the offline payment Bizkey and so on.