The crypto market is intrinsically tied to activity on crypto exchanges. As the leading way of attaining crypto, stats from exchanges offer key insights into the movements on the market as a whole, as well as activities inside individual coins.
The latest report from CORindex, a cryptocurrency analytics platform looking into Bitcoin and cryptocurrency data, offers a comprehensive rundown on how the main cryptos behaved using data gathered from top crypto exchanges and their individual blockchains. Across ten chapters, the report covers key metrics like average rate, volatility, transaction volume, and other stats any serious investor will want to familiarize themselves with.
This article will dissect and highlight the main findings in the report. Let’s dive in.
Changes in Average Rate of the Top Cryptocurrencies
Bitcoin rises meteorically in average rate, Zcash and Ethereum rise sharply, as well.
These numbers are derived from the volume of performed crypto to USD exchange operations and rates at time of transaction. In other words, these numbers show the rate at which the majority of crypto operations were performed at.
Bitcoin grew in average rate more than any other coin in June. At the end of the month, its average rate was recorded at $11,386, which is a 47.16% growth over May’s numbers. Theories on why BTC is growing so rapidly at the moment are diverse, but suffice it to say that these numbers are inspiring optimism in both old and new investors.
Bitcoin Cash, BTC’s 2017 offshoot, enjoyed its own modest rise of 4.83% to reach $406. Despite what may seem as small growth, it still holds the number two spot among all cryptocurrencies in terms of average rate.
Ethereum has sharply grown by 19.34% last month, reaching an average rate of $280. This is part of a bullish trend with ETH that’s been establishing since the beginning of the year.
ZCash was the other large grower in June, upping its average rate by 29.49% to reach $102. ZEC, a crypto created as part of an early Bitcoin fork, is one of the more well-established altcoins, and its sharp growth is an outlier in this list. It may be perceived as a healthy sign if not for altcoins, then the crypto market overall.
These numbers reflect an overall uptick in the crypto market as a whole, signaling an incipient bullish trend.
Top Coins by Transaction Volume
Leaders remain unchanged: TRON, Dogecoin, and Zipper are most actively traded.
The report offers two chapters with a look into currency transaction volume: the refined and unrefined numbers. The difference between these two categories is that the refined currency transaction volume includes transactions from a cryptocurrency to USD and USDT, while in the unrefined category, transactions from crypto to fiat are counted.
TRON leads the list in both categories and takes the title of most actively traded crypto in June. Even after sustaining a negative growth of 26.42% in the unrefined category and 17.59% in refined numbers, its respective values of $709,883,953,814 and $62,271,425,480 land it in the top position of the most actively traded cryptos.
Dogecoin landed on both lists, as well. It’s the number two coin by trades in the unrefined category and number three going by the refined numbers. In terms of unrefined numbers, it sustained a negative growth of 10.88% to reach a value of 548,570,455,976, however, in the refined category it grew by 5.91% after reaching a value of $35,093,183,385. Not bad for a crypto that started as a joke.
Zipper is in a comparable situation, being put in the third spot in the ranking by unrefined numbers, and number two in the refined category. In terms of crypto to fiat trades, it grew by 47.64% to reach $417,202,878,161. As for ZIP/USD and ZIP/USDT trades, the coin’s transaction volume deflated by 11.87% and reached a value of $52,364,940,787.
All cryptos in the top positions in terms of transaction volume sustained minimal changes in the past months, and the ranking overall remains stable.
Bitcoin, Ethereum, Litecoin Remain the top three in currency/USD transactions with only one surprising change.
The report features two separate chapters dedicated to crypto/USD transactions, again, refined and unrefined. In these two rankings, traders’ old favorites take the top spots. By reading into these numbers, traders can learn which coins are being held and which are being traded most actively. These categories can also be used as a general barometer for the health of crypto trading in general.
The most actively traded cryptocurrency on both lists is, predictably, Bitcoin. It sustained a negative growth of 4.21% to reach a value of $702,111,359,221 in the past month. Interestingly enough, BTC grew by 77.79% in terms of refined transaction volume to reach $63,294,255,872.
Ethereum is still in the second spot on both lists. The coin fell by 15.52% in unrefined transaction volume and reached $269,360,703,212. As for refined transactions, ETH fell by just 1.04% and is marked at $15,738,261,576.
Litecoin closes off the top three, the only coin in the top to grow on both lists. In the unrefined category, its value increased by 9.43% to reach $139,278,554,242. In refined numbers, it grew by 10.78% and reached a value of $11,710,724,137.
The top grower in unrefined transaction volume was NEO, which increased its value by 20.39% and reached $18,283,374,886.
The most major change in the category of refined transaction volume, other than Bitcoin, was Cardano. Its growth was 62.55%, a significant change for a newer coin, and its value reached $1,901,143,120.
The overall rise of rates in all cryptos reflects the stagnation of trades as fewer investors are willing to trade their cryptos in case rates skyrocket.
Share of the market cap of Bitcoin grows, the overall shift towards smaller coins observed.
The market capitalization is a favorite tool of investors to gauge how much value is held in a certain asset. Major changes in this category are a combination of such factors as rate and trading volume, which make it an easy-to-understand rule-of-thumb tool to understand the status of a certain market. In this chapter of report, the only crypto to attain growth is Bitcoin, which increased its share by 12.07% to encompass 0,6716 of the market. Most other coins fell by double digits, which signals a shift in favor of smaller coins.
Share of Operations Individual Currencies Hold
Currency operations share of Bitcoin grows, all other coins fall sharply or remain stable.
In this category, Bitcoin still holds the top spot with over 50% of the market after growing by 12.63% over last month’s numbers. The following entry on the list is Ethereum, which holds 18,57 % of the market after a modest increase of 0.76%. All other coins hold under 10% of the market and (other than Litecoin, which grew by 5.34%) fell by double digits this past month.