Huobi Blockchain Big Data Weekly Insights (Vol.17 2018/9/26–2018/10/3)

All data in this report is captured and analyzed by Huobi Research; please cite the source “Huobi Blockchain Big Data Weekly Insights” for reference.

New Data Included: New Issues and Code Submission on GitHub

This Week:

  1. The number of active addresses in Ethereum decreased 1.7% to 0.97 million, in the near-term low; the overall transaction volume on the Ethereum network has decreased 21.1% to 10.33 million ETHs.
  2. Ethereum had significant code updates on GitHub, in which Go-Ethereum had 3440 more line of codes.
  3. BTC, NANO, and XLM were the most popular cryptocurrency on Reddit.
  • Social Media Data:

BTC, ETH, EOS to be the top trending in China, while BTC, Nano, Stellar were the top Cryptocurrencies overseas; In the Events category, “Smart contract”, “Contract” and “decentralization” were the hottest words in China, while “Wallet”, “Bot” and “Security” were the hottest words overseas; in the Exchange and KOL category, “Huobi”, “Li Xiaolai” and “OKEX” were the hottest in China, while “Coinbase”, “Binance”, “Binance” and “HitBTC” were the hottest overseas.

  • Market Trading Data:

In the cryptocurrency market this week, the price of Cryptocurrencies raised up more and down less. BCH receiving the largest increase of 23.2% and Monero receiving the largest decrease of 1.1% in their respective prices. BTC had the lowest volatility rate of 0.0016 s.d. Ripple had the largest volatility rate of 0.008 s.d; Top 10 Cryptocurrencies had high correlations in their price movements this week, expect Monroe.

1. On-Blockchain Data

1.1 Active Bitcoin Addresses

Active Bitcoin Address (in thousands)

The number of new address decreased 3.8% from 1.40 to 1.35 million. The number of continuously active address increased 10% from 0.5 to 0.55 million. The number of reactivated addresses increased 1.3%.

Categorization of Active Bitcoin Address (in thousands)

1.2 Transactions on Bitcoin

Left: BTC trading volume (in million BTC); Right: Number of transactions on BTC network (in million)

1.3 Bitcoin TPS

Bitcoin TPS

1.4 Bitcoin Transaction Fee

Bitcoin Transaction Fee (BTC)

1.5 Concentration of Wealth on Bitcoin

Concentration of Wealth on BTC Network

1.6 BTC Large Transactions Monitor

Large and Extra-large Transactions on BTC Network

1.7 Transaction Volume Distribution of Bitcoin

left-Transaction Breakdown by Volume (in thousands); right-Weekly BTC Transaction Distribution

1.8 Change in Balance of Top 30 Bitcoin Addresses

Change in Balance of Top 30 Bitcoin Address

1.9 Active Ethereum Addresses

Number of Active Ethereum Addresses (in millions)

1.10 Transactions on Ethereum

Left: Overall Trading Volume on ETH (million ETH); Right: Number of Transactions on ETH (in millions)

1.11 Ethereum TPS

Ethereum TPS

1.12 Ethereum Transaction Fee

Ethereum Transaction Fee

1.13 Concentration of Wealth on Ethereum

Concentration of Wealth on ETH

1.14 ETH Large Transactions Monitor

Large and Extra Large Transactions on ETH Network

1.15 Change in Balance of Top 30 Ethereum Addresses

Change in Balance of Top 30 Ethereum Address

1.16 EOS Transactions

EOS Transactions (in millions)

1.17 RAM Utilization and Voting Percentage on EOS

Left: RAM Utilization; Right: Voting Percentage on EOS

2. Social Media Data

2.1 Keyword Analysis (China)

In the Cryptocurrency category, NLP World Cloud Analysis suggests Bitcoin, Ethereum, and EOS as the top Cryptocurrencies receiving the most widespread attention, with discussions mainly focused on price and trading strategies.

In the events category, NLP Word Cloud suggests “Smart Contract”, “Contract” and “Decentration” as the hottest words of the week. “Smart Contract” refers to: the discussion on development guidelines of EOS smart contract; “Contract” refers to the problems associated with the trading of futures contract platforms such as OKEX and Bitmex; “Decentration” refers to the discussion on Oneroot launched the decentralized exchange bethumb.io jointly with Bithumb, South Korea’s largest exchange.

In the Exchanges/Opinion Leaders category, NLP Word Cloud suggests “Huobi”, “Li Xiaolai”, and “OKEX” as the hottest words of the week, with discussions of “Huobi” and “OKEX” mainly focused on daily exchange problems; discussion of “Li Xiaolai” mainly focused on his announcement that no longer investing in blockchain project.

8btc.com Word Analysis

We witness a drastic change in the trending topics this week, within all topics of these three categories, focus on “Ontology”, “Wu Jihan”, “NEO”, “Graphene” and “Zhao Dong” receiving the largest increase, while focus on “XLM”, “Xu Mingxing”, “Ripple”, “Sharding” and “DAG” receiving the largest decrease.

Left: Top Trending Topics on 8btc.com; Right: Least Trending Topics on 8btc.com

2.2 Keyword Analysis (Overseas)

In the Cryptocurrencies category, NLP Word Analysis suggests BTC, NANO, and Stellar as the three cryptocurrencies that received the most widespread attention this week. For Bitcoin, discussion mainly focused on the price and trading strategies; For NANO, discussions mainly focused on “Kite payment supports nano pay”; Discussions on Stellar focused on “Stellar launches the first zero-fee exchange in the world.”

In the Events category, NLP Word Analysis suggests “Wallet”, “Bot Robot”, and “Security” as the hottest words of the week. “Wallet” refers to the discussion on the frequency on Cryptocurrency theft and how to keep your wallet safe; “security” refers to the discussion on the future development direction of security tokens; “Bot” refers to the discussions on the strategy of using robots for quantitative trading.

In the Exchanges/Opinion Leaders category, NLP World Analysis suggests “Coinbase”, “Binance”, and “Hitbtc” as the hottest words of overseas this week, with the discussion on general topics among platform users.

r/CryptoCurrency Word Analysis

We witness a drastic change in the trending topics this week, with focus on “BCH”, “Hitbtc”, “Lightning”, “Satoshi” and “Society” receiving the largest increase, while focus on “Pow”, “Regulation”, “Nodes”, “Mainnet” and “Government” receiving the largest decrease.

Left: Top Trending Topics on r/CryptoCurrency; Right: Least Trending Topics on r/CryptoCurrency

2.3 Github Code Activity

GitHub Code Activity

2.4 EOS Telegram Activity

The number of chats in EOS community telegram groups decreased slightly, from11,700 to 11,100 (the number EOS China decreased by 900, the number of EOS General and EOS Price increased by 300).

Left: Total Number of Messages in Official EOS Telegram Groups (in Thousands); Right: Separated Number (in thousands)

3. Market Data

3.1 Rate of Return/Price Volatility

Rate of Return vs Price Volatility

3.2 Cryptocurrency Price Correlations

LTC and BTC had the highest correlation coefficients of 0.98, then LTC and ADA, with the correlation coefficients of 0.97; Monero and Ripple had the lower correlation coefficient of -0.02, ETH and Momero had the correlation coefficient of 0.28.

Pearson Correlations Matrix of top 10 Cryptocurrencies

Huobi Research

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