Warming up before the flood season? The computing power of multiple currencies hit a three-month high | JRR Research Institute

1. Weekly Industry News

1. As of today (March 31, 2019), the total market value of the cryptocurrency market is US$144.178 billion, a slight increase of 2.82% compared with the previous week;

2. The total cryptocurrency market volume in the past week was $237.523 billion, up 8.7% from $218.510 billion the previous week and up 9.8% from $216.322 billion two weeks ago.

3. Bithumb, a well-known Korean exchange, was stolen. According to the official announcement, the theft of funds was an internal crime;

4. The Cyberspace Administration of China issued the first batch of 197 blockchain information service names and registration numbers. The next day, A-share blockchain concept stocks rose by more than 5%;

5. OK Group invested in the US trust institution Prime Trust and plans to launch the stablecoin OKUSD based on OKChain. The institution is a trust company focusing on blockchain and is qualified to issue compliant stablecoins;

6. Mining machine manufacturer Canaan Zhiyun may submit a listing application to the Science and Technology Innovation Board or the United States;

7. Ali Health and Alipay officially launched the "Future Hospital", of which blockchain technology is one of its five core contents.

2. Trading Market: Maintaining the Upward Trend

As shown in the figure, the total market value and trading volume of cryptocurrencies have maintained a steady upward trend since February, and there has been no change in the trend in the past two weeks.

In the past 7 days, most mainstream coins have performed well, sending positive signals in terms of both price and trading volume. It can be seen that the coins with the most significant year-on-year growth in trading volume are EOS and MKR, with the former's trading volume increasing by nearly 50% and the latter's trading volume increasing by more than 100%. The only coin with a significant decline in trading volume is BSV.

Prices and trading volumes of major cryptocurrency exchanges

3. Preheating during the flood season, the computing power of many mainstream coins hit new highs

Judging from the total network computing power of each mainstream currency in the past three months, BTC computing power has maintained an upward trend, ETH computing power has hit a new low in the past three months, and LTC, Dash and BCH computing power have all hit a new high in the past three months. In addition, the computing power gap between BCH and BSV has not continued to widen in the past week, and we will continue to observe and track it.

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

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:

4. JRR 30 Index Trends Positive

According to the latest data released by JRR Research Institute, the JRR 30 Index closed at 2454.39 points today, up 0.28% on the day. The cumulative rate of return of the JRR 30 Index in the past month was 9.97%, while the cumulative rate of return of BTC in the same period was 6.51% and the cumulative rate of return of ETH was 2.48%. The cumulative rate of return of the JRR 30 Index since its establishment on January 1, 2017 was 2354.39%, while the cumulative rate of return of BTC in the same period was 311.23% and the cumulative rate of return of ETH was 1632.07%. Compared with the same period last week (2019.03.25), the JRR 30 Index increased by 3.25% year-on-year, the price of BTC increased by 2.07% year-on-year, and the price of ETH increased by 3.30% year-on-year.

5. U SDT's market share further expanded

We selected the trading situation of stablecoins in the past week and observed that the total transaction volume of stablecoins in the past week (March 25 to March 31) was 64.93 billion US dollars, an increase of 5.75% compared with 61.401 billion US dollars in the previous week. The average daily transaction volume of USDT in the past week was 9.153 billion US dollars, accounting for about 98.68% of the stablecoin transaction volume. This proportion is still higher than the 98.42% in the previous week. The second and third stablecoins in terms of transaction volume are PAX and TUSD, with an average daily transaction volume of 55.99 million US dollars and 34.19 million US dollars respectively in the past week. Compared with the previous week, PAX's transaction volume fell by 3.25%, while TUSD's transaction volume fell by 22.95%. In addition, this week, GUSD's transaction volume began to fall again. At present, GUSD's daily transaction volume is about 4.68 million US dollars, a decrease of 46.90% compared with last week's data.

6. The D App list is basically the same as last week

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

7. Market Summary

Since February, the total market value and trading volume of cryptocurrencies have maintained a steady upward trend. Although there are large fluctuations from time to time, the overall upward trend has not changed. In addition, JRR Research Institute observed that with the arrival of the flood season, several currencies with large increases in computing power in recent months, such as LTC, Dash and BCH, have shown large increases on the monthly level since this year, among which LTC has recently increased by more than 100%, while Dash and BCH have increased by more than 30%.

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