Huobi Research: Bitcoin Trading Volume Grows as Transactions Stall
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Main page Analytics, Bitcoin, Ethereum

Huobi Group, one of the leading cryptocurrency exchanges in the world, has published its weekly review dubbed ‘Huobi Blockchain Big Data’ regarding the statistics of the past week. Analyzing the data related to the cryptocurrency market indicators during the period from the last week of October, the report unveils the current social media and crypto market trends. It also features the exchange fees per transaction, dispersion of riches on chose blockchain protocols, the circulation of crypto, Dapp, and the trending crypto catchphrases.

So, according to the report, the costs of crypto have diminished, and the trading volume has risen drastically. As for EOS, its turnover expanded by 103%.

Huobi Research: Bitcoin Trading Volume Grows as Transactions Stall
Huobi Research

The number of bitcoin addresses has continued growing for the last six weeks. This figure touched 3.69 million, and comparing to the previous week shows 1.8% surge. Taking into account the last 2 months, it’s the largest amount of single-use tokens. Huobi’s research says that 1.35 million bitcoin addresses have been created this week compared to 1.37 million in the previous one.

Ethereum addresses have shown 2.6% increase. The previous week their figure was at 1.166 million while now it stands at 1.196 million.

Huobi Research: Bitcoin Trading Volume Grows as Transactions Stall
Huobi Research

During the last week bitcoin network has carried 5.82% fewer assets, however, the number of transactions has increased by 3 percent compared to the previous week and reached 1.768 million. According to the research the average amount of BTC to be traded per one transaction became 8.6% smaller than it was the week before and is now 3.17 BTC.

The fees received from bitcoin transactions rose from 114.6 BTC to 120.4 BTC.

The number of bitcoin transactions rose by 3 percent and reached the “largest amount for [the] recent 6 months.”

The same pattern can be seen in the ethereum network behavior. The average amount of ETH changing hands during one transaction fell by 9%. But like bitcoin, the number of transaction fees in the network has risen from 10,100 ETH to 10,400 ETH.

For the last 6 weeks, the crypto community has been trading more EOS. The number increased by 10.4% and reached 21.84 million. The total amount of Dapps on the EOS blockchain protocol is now equal to 123. The top-5 of them are BetDice, Endless Dice, EOSPoker, EOSBet, and EOS Knights respectively.

Ethereum network accounts for 1,137 active Dapps. The top-5 by transaction volume this week became IDEX, Dice2win, CryptoKitties, ForkDelta, and Ethroll respectively.

Huobi Research: Bitcoin Trading Volume Grows as Transactions Stall
Huobi Research

The Keywords in social media for the past week were ‘Huobi’, ‘Binance’, and ‘ZB’ “with discussions mainly focused on daily exchange issues including log-in issue, transaction, the rate and so on”. Also, people were looking for ‘SEC’, ‘Node’, ‘NANO’, ‘China’ and ‘Ox’.

People were mainly searching for ‘bitcoin’, ‘ethereum’ and ‘EOS’ when they needed an answer regarding the current rates or trading strategies.

The top-3 active Telegram crypto related groups are: Ontology Group, Vechain English Group, and EOS China (a Chinese group).

“We aim to establish a research platform and to offer theoretical foundations as well as judgments of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry,” – the research group states.

Group-IB Ranked Crypto Exchanges by Security Level

Earlier today another research conducted by Leading cybersecurity firm Group-IB has listed Huobi exchange as having the lowest security level. According to analysts, Kraken platform performs the best in this area. The U.S. based platform is followed by Bittrex and Coinbase Pro standing second and third respectively.

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