Mainstream coins hit a new high in the past six months, and the payback period of mining for multiple coins was significantly shortened

1. Weekly Industry News

1. Currently, the total market value of the cryptocurrency market is 249.753 billion US dollars, an increase of 0.95% compared with the previous week;

2. The total cryptocurrency market trading volume in the past week was $517.147 billion, down 21.12% from $655.641 billion the previous week and up 20.45% from $429.33 billion two weeks ago.

3. TAOTAO, a cryptocurrency exchange under Yahoo Japan, will officially start operations on May 30;

4. Robinhood is seeking a new round of financing, with a valuation of over $7 billion;

5. Tether issued 100 million new USDT based on Ethereum and transferred the additional coins to the Bitfinex exchange;

6. Telegram is expected to release the blockchain network Telegram Open Network (TON) in the third quarter of this year.

2. Trading Market

In the past week, the total market value of cryptocurrencies continued to hit a new high in the second half of the year, but the total trading volume fell, with the weekly trading volume falling by 21.12%.

Data source: CoinMarketCap

It can be seen that in the past 7 days, except for XRP, all mainstream currencies have increased to a certain extent, among which BSV has increased by 51.44% in a week, and BNB has increased by 23.40% in a week. In addition, the trading volume of BSV and XMR has increased significantly, with an increase of more than 100%.

Prices and trading volumes of major cryptocurrency exchanges

Data source: CoinMarketCap

3. Mining situation

As shown in the figure below, we can see that the reversal point of computing power changes for BTC, ETH, LTC, DASH and BCH is the end of March, and this round of big market officially started at the end of March. At present, the computing power of each currency is fluctuating in the high range of the past three months. It is worth noting that with the rise in currency prices, the mining payback period is further shortened. At present, the mining payback period of BTC and LTC is within 200 days, and the mining payback period of ETH is within 300 days.

BTC network computing power in the past three months

ETH network computing power in the past three months

LTC network computing power in the past three months

DASH network computing power in the past three months

The total network computing power of BCH and BSV in the past three months

Data source: Bitinfocharts

Based on the electricity fee of 0.03 yuan and the cost parameters of mainstream mining machines, the estimated payback days for several major mainstream coins are as follows:

Data source: JRR calculation

4. JRR30 Index Trend

According to the latest data released by JRR Research Institute, as of 17:00 on May 27, 2019, the JRR30 index closed at 4256.01 points, with a daily increase of 5.75%. The cumulative return of the JRR30 index since its establishment on January 1, 2017 is 4156.01%, while the cumulative return of BTC in the same period is 768.77% and the cumulative return of ETH is 3168.91%. In the past week, the JRR30 index has risen by about 3.01%.

5. Stablecoins

We selected the stablecoin transactions in the past week and found that the total transaction volume of stablecoins in the past week was 155.487 billion US dollars, down 23.62% from 203.569 billion US dollars in the previous week. The average daily transaction volume of USDT in the past week was 21.698 billion US dollars, accounting for about 97.68% of the stablecoin transaction volume, which was basically the same as the 97.55% in the previous week. The second and third stablecoins in terms of transaction volume were TUSD and PAX, with average daily transaction volumes of 210 million US dollars and 156 million US dollars respectively in the past week. Compared with the previous week, the transaction volume of TUSD fell by 27.98% and the transaction volume of PAX fell by 21.02%.

Data source: Coinmarketcap

6. DApp List

In the past week, the performance of various DApps ranked by DAU in the top 100 is as follows.

Data source: DappRadar

7. Market Summary

In the past week, the total market value of cryptocurrencies continued to hit a new high in the second half of the year, but the total trading volume fell back. This round of big market officially started at the end of March, and the computing power of major currencies is currently fluctuating in the high range of the past three months. In addition, with the rise in currency prices, the mining payback period is further shortened. Currently, the mining payback period of BTC and LTC is within 200 days, while the mining payback period of ETH is within 300 days.

Note: This article only represents the author’s personal views and does not constitute any investment advice.