Cryptocoins: the leaders of growth and fall on Oct 24-30

Groestlcoin shows 587,53% growth; The ChampCoin and ZenCash fell down
30 October 2017   1708

From this acticle you can find out which cryptocurrencies are the leaders of growth and fall in last 7 days. In this article we’ve considered only cryptocoins with market cap over $100k and which are traded in pair with USD.

Groestlcoin rose and gained 587,53% at one point, adding 113,80% in the past 24 hours as the total market capitalization touched levels above $47 million. DubaiCoin trading volumes jumped by 299,34% this week.

Bitcoin conquered the $6,000 levels on October 29, and still seems capable of moves above that level. Not even the Bitcoin Gold hard fork could shake the leading currency’s positions, as the coin sank into obscurity with a price for the futures at $137.

The ChampCoin lost almost 23% this week as it pushed off the bottom at $0,87. Zencash tracked back by around 21% in the past 7 days to $18,19.

 

The biggest fall 

Name Market
  cap
Price
 in $
Volume   (24h) Change
(7 days)
The ChampCoin 14389291 0,087247 209420 -22,97%
ZenCash 42897548 18,19 1540620 -21,34%
Neblio 53183207 4,25 672249 -21,13%
Stellar Lumens 511263039 0,030821 12243500 -19,43%
Nexus 59360404 1,11 282304 -18,86%
Metaverse ETP 95861290 4,24 6836460 -17,84%
Bitdeal 47423268 0,303587 178095 -16,53%
GameCredits 121932155 1,89 595258 -16,17%
Rise 23830962 0,210634 312483 -15,67%
Rubycoin 18468963 0,740872 269575 -15,41%

 

The biggest jump 

Name Market cap Price
in $
Volume     (24h) Change
(7 days)
SolarCoin 12210750 0,33234 845410 33,73%
Bitcoin Cash 7486418372 446,92 363368000 34,63%
Voxels 10126494 0,048221 4292510 47,15%
Vertcoin 230753188 5,65 27136000 60,15%
SmartCash 83061971 0,104232 137697 61,28%
DigitalNote 15115066 0,002195 2499630 64,71%
OKCash 26785370 0,366355 11674600 94,89%
Feathercoin 23710751 0,131596 4518340 194,53%
DubaiCoin 21441659 15,22 1706520 299,34%
Groestlcoin 47281110 0,688208 28063900 587,53%

 

Marketcap leaders situation

Name Market cap Price
 in $
 Volume
 (24h)
Change
(7 days)
Bitcoin 102828265521 6173,61 1630190000 8,37%
Ethereum 29471540874 308,82 302266000 0,16%
Ripple 7838047116 0,203419 30878300 -2,52%
Bitcoin Cash 7486418372 446,92 363368000 34,63%
Litecoin 3016785891 56,26 84630900 -3,18%
Dash 2157672577 281,9 40255600 -5,06%
NEO 1868639500 28,75 28999400 -7,16%
NEM 1767591000 0,196399 3902890 -7,07%
BitConnect 1682096336 229,26 20946200 16,13%
Monero 1352635875 88,46 24831800 -1,47%

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   75

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.