Huobi weekly report awards Bitcoin & Ethereum as the best performers
Huobi has released its weekly report called ‘Huobi Research Weekly’ and it showed that in a span of a week, Bitcoin and Ethereum have proven themselves to be the best performing digital currencies.
Bitcoin and Ethereum have been quite stable
The report highlighted that the market cap and transaction volume of cryptocurrencies showed to be stable during the whole week. Out of the top 100, 30 cryptocurrencies have shown growth in “varying degrees”.
The report stated: “The 7-day average of unconfirmed transactions for Bitcoin and Ethereum are 2888 and 41506, respectively. Bitcoin’s Hashrate increased by 5.64% and Ethereum’s decreased by 2.69%. The average transaction fees on the Bitcoin and Ethereum network this week were $0.653 and $0.195, increasing 33.53% and 7.14% respectively. Total number of addresses on the Bitcoin and Ethereum network reached 27.82 million and 43.71 million, respectively.”
While the average number of Bitcoin’s transactions per block showed a minimal increase, the average block size witnessed a gentle slump. On the other hand, Ethereum enjoyed a rise in both of its average number of transactions and average block size.
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“Average number of unconfirmed transaction in Ethereum and Bitcoin decreased and increased by 39% and 10.19%, respectively. Bitcoin’s transaction fees decreased and Ethereum’s transaction fees increased,” the report added.
Search engine and social media hauls of the cryptocurrencies
The report also highlighted that Google, Baidu, WeChat, which are the top three search engines, have shown that Bitcoin (BTC) and Ethereum (ETH) have climbed up the ladder of popularity as their search volume have increased. However, there has been downward trend in the search volume of other cryptocurrencies and blockchain in both Baidu and Google.
In terms of social media popularity, along with Bitcoin and Ethereum, Ripple (XRP) has also hit the bar of being the “most popular communities on Facebook and Twitter”.
Who enjoyed ICOs the most?
According to the report of Huobi, Singapore experienced the maximum ICOs this week. “Among all 40 ICO projects, majority of them took place in Singapore. Platform projects were the majority. Financing applications were the majority in application projects. 9 investment activities took place in the Blockchain industry this week, Blockchain application attracted the most investment. SNC obtained a 10Million RMB Pre-A round financing from OK Capital, accounted for the largest financing this week.”
Here we present our Huobi Weekly Report (2018/8/13-2018/8/20)
[Vol.24] Markets stabilize with BTC posting weekly gain of 1.1%; HB10 outperforms
— Huobi Research (@Huobi_Research) August 25, 2018
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