Do you think that crypto-prices just randomly jump up & down? It might look that way, but underneath there are structural developments that deserve your attention.
An excerpt from the Coincheckweekly for last week:
What a week! Week 38 marked a sharp rise on average top 25 prices, with a +8.63% compared to a -0.14% the week before. Sure, there were winners and losers, let’s name a few of them: Ripple went ‘stellar’, with a change of +100.90% but they were not the only ones, as Stellar created significant ‘ripples’ adding up to +36.02% and the price of Cardano rose with +21.11%. Worse of were Vechain (-0.82%), Lisk (-5.86%) and Dogecoin (-9.36%).
On the community-side of things, we noticed a +0.39% stronger growth compared to the week before (+0.16%). This means that in general, community involvement in the top 25 projects is accelerating. Especially Tezos, Tether and Ontology did well, with IOTA, Lisk and NEO showing zero community growth in the last week or even a slight decline.
More people visited the websites of Ripple, Litecoin and Dogecoin during week 38, according to Alexa. With an average rank change of -0.72%, compared to -1.90% in the week before, we might be witnessing a trend reversal. The higher interest in the top 25 cryptolist, becomes evident as well if we consider the +23.63% jump in transactions in week 38, compared to the week before. Again, we see here Ripple, Ontology and EOS doing better than average.
Feewise, we observed a rise of 13.41% on average, not surprisingly if paired to the higher number of transactions. With 0.22 USD the average fee is still pretty low however.
We do not know what coming week will bring us, but we’ll promise to tell you all about it by next Monday! 😉
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