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Huobi Blockchain Big Data Weekly Insights Vol. 30
2018/12/26-2019/1/2
Abstract
All data in this report was captured and analyzed by Huobi Research; please cite the source “Huobi
Blockchain Big Data” for reference.
This Week:
1) The number of new Bitcoin addresses decreased significantly for 2 consecutive weeks, and the number of
new addresses created this week became the lowest in the past six months. The transaction volume and
the number of transfers decreased in value to varying degrees.
2) The number of active addresses of Ethereum declined. The number and the amount of transfers decreased
significantly.
3) The transactions of EOS drastically decreased. The number of new addresses created this week has
declined nearly 50%.
4) On-chain Data:
Social media data:
In the field of digital currency, Bitcoin, Ethereum and EOS are the most popular in the country; BTC, ETH
and XRP in foreign countries. In the field of hot events, the top three domestic hot topics are “bear market”,
“bull market” and “forking”, and top three foreign topics are “SCAM”, "Wallet" and "Mining"; in the exchange
and currency circle KOL field, domestic Huobi, Binance, Justin Sun occupy the most community attention,
and the top three abroad are Coinbase, Satoshi, Binance.The top three cryptocurrencies winning most new likes
on GitHub were ETH, BTC, and EOS in descending order in the previous week. BTC attracted the most fans,
followed by ADA and IOTA. In terms of activity, ETH, IOTA, and ADA were the top three active projects with
most new lines of code. Market Trading Data: In the cryptocurrency market this week, the price of major cryptocurrencies all increased to varying degrees,
with the largest growth of IOTA, and the largest drop of NEM. The most obvious growth of transaction amount
is Maker, the most obvious decline is ETC.
Author Yuming Hubery Yuan Hai Du Junjing Shi huobiresearch@huobi.com
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TABLE OF CONTENTS
FULL REPORT ..........................................................3
1. ON-BLOCKCHAIN DATA ..................................3
1.1 ACTIVE BITCOIN ADDRESSES ............................................................................... 3 1.2 BITCOIN TRANSACTION .......................................................................................... 4 1.3 ON-CHAIN BITCOIN TRANSACTION FEE ............................................................. 4 1.4 CONCENTRATION OF WEALTH ON BITCOIN ........................................................ 5 1.5 BTC LARGE TRANSACTIONS MONITOR ............................................................. 6 1.6 BITCOIN TRANSACTION VOLUME DISTRIBUTION ............................................. 7 1.7 ACTIVE ETHEREUM ADDRESSES .......................................................................... 8 1.8 ETHEREUM TRANSACTIONS................................................................................... 8 1.9 ETHEREUM ON-CHAIN TRANSACTION FEE ........................................................ 9 1.10 CONCENTRATION OF WEALTH ON ETHEREUM ................................................ 9 1.11 LARGE ETHEREUM TRANSACTION MONITORING ........................................ 10 1.12 EOS ON-CHAIN ACTIVITY ANALYSIS ............................................................ 11 1.13 EOS DAPP ACTIVITY ....................................................................................... 12
2. SOCIAL MEDIA DATA ..................................... 14
2.1 KEY WORDS (CHINA) .......................................................................................... 14 2.2 KEY WORD THIS WEEK (OVERSEAS) ............................................................... 15 2.3 GITHUB CODE ACTIVITY THIS WEEK .............................................................. 16
3. MARKET DATA ................................................. 17
3.1 RATE OF RETURN/ TRADING VOLUME .............................................................. 17 3.2 CRYPTOCURRENCY CORRELATION .................................................................... 17
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Full Report
1. On-Blockchain Data
1.1 Active Bitcoin Addresses
The total number of Bitcoin active address was 3.50 million, 4.2% less
than the number of last week, declined for two consecutive weeks.
Figure 1:Active Bitcoin Addresses(in ten thousand)
Data source:Huobi Research, Blockchain Node File,
The number of new addresses created this week was 1.10 million, down
6.4% from 1.17 million last week, declined for two consecutive weeks,
became the lowest in the past six months.
369
398381 381
354344
358
387
365350
250
270
290
310
330
350
370
390
410
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Figure2:New Bitcoin Addresses (in millions)
Data Source: Huobi Research, Blockchain Node File
1.2 Bitcoin Transaction
The transaction volume of the Bitcoin on-chain was 6.875 million BTC,
a drop of 12.9% from 7.898 million last week. The number of on-chain
transactions was 19.1 million, similar to last week. The average amount of
BTC per transaction was 3.59 BTC, down 13.3% from last week.
Figure3.1:Bitcoin Transaction Volume (ten thousand BTC)
Figure3.2: Number of Transactions on BTC (in ten thousand)
Data Source: Huobi Research, Blockchain Node File Data Source: Huobi Research, Blockchain Node File
1.3 On-chain Bitcoin Transaction Fee
This week's total transaction fee has increased, from 167 BTC last week to
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107 BTC. The average transaction fee per transaction was 0.00006 BTC,
down 35.9% from last week.
Figure4: Bitcoin Transaction Fee (BTC)
Data Source: Huobi Research, Blockchain Node File
1.4 Concentration of Wealth on Bitcoin
This week's bitcoin address concentration has not changed much from
last week. Top10 holdings kept percentage points to 5.29%; Top10-100
addresses decreased 0.06 percentage points lower than last week; Top100-
1000 addresses increased by 0.09 percentage points; remaining addresses
decreased by 0.03 percentage points to 64.48%.
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Figure5:Concentration of Wealth on Bitcoin
Data Source: Huobi Research, Blockchain Node File
1.5 BTC Large Transactions Monitor
The Huobi Research Institute classifies bitcoin transactions based on the
amount of the transfer: the amount > 10,000 bitcoin is a gigantic transfer, the
amount between 1,000 and 10,000 bitcoin is large transfers, and the amount
below 1,000 is categorized as others. There were 3 gigantic transfers this
week, and the number of large transfers of 1K-10KBTC decreases from
1,009 last week to 886.
Top10, 5.30% Top10, 5.30% Top10, 5.30% Top10, 5.29%
Top10-100, 10.32%
Top10-100, 10.39%
Top10-100, 10.46%
Top10-100, 10.40%
Top100-1K, 19.78%
Top100-1K, 19.74%
Top100-1K, 19.73%
Top100-1K, 19.82%
64.59% 64.58% 64.51% 64.48%
12/12/2018 12/19/2018 12/26/2018 1/2/2019
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Figure6: Large and Extra-Large Transactions on BTC Network
Data Source: Huobi Research, Blockchain Node File
1.6 Bitcoin Transaction Volume Distribution
Bitcoin's large-volume transfers decreased this week, and the percentage of
1K-10K BTC range transfers dropped the most from 21.5% last week to
19.8%.
Figure7.1:Transaction Breakdown by Volume (in ten
thousand BTC) Figure7.2: Weekly BTC Transaction Distribution
Data Source: Huobi Research, Blockchain Node File Data Source: Huobi Research, Blockchain Node File
318
868
10511003
11431037 1009
886
2
15
2
18
15
1 1
30
2
4
6
8
10
12
14
16
18
20
0
200
400
600
800
1000
1200
1400
1K-10K(large transfers) 10K+(gigantic transfer)
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1.7 Active Ethereum Addresses
This week, the number of active addresses in Ethereum decreased 2%
from 1.03 million last week to 1.00 million.
Figure 8:Number of Active Ethereum Addresses (in ten thousands)
Data Source: Huobi Research, Blockchain Node File
1.8 Ethereum Transactions
The volume of the on-chain Ethereum transactions dropped from last
week to 17.74 million ETH, a decrease of 21.1%. There were overall 3.69
million transactions this week, 6.9% down from last week. The average
transaction volume per transaction was 4.81 ETH, 15.2% down from last
week.
Figure9.1:Total Trading Volume on ETH (in million ETH) Figure9.2: Number of Transactions on ETH (in million
Data Source: Huobi Research, Blockchain Node File Data Source: Huobi Research, Blockchain Node File
119.6112.7 111.1 110.8
98.3 95.6106.9
100.2 102.5 100.4
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1.9 Ethereum On-chain Transaction Fee
This week, the Ethereum Transaction fee decreased, from 12,900 ETH to
10,000 ETH. The average fee per transaction was 0.0027 ETH, a decrease of
10.4% from last week.
Figure 10:Ethereum Transaction Fee
Data Source: Huobi Research, Blockchain Node File
1.10 Concentration of Wealth on Ethereum
This week, the concentration of Ethereum address has increased
dramatically. The top ten holdings of Bitcoins held 12.48% of ETH, 0.25
percentage points up from last week. The share of the Top10-100 address
was 21.27%, 0.12 percentage points down from last week; the top 100-1000
address held 29.88%, 0.07 percentage points down from last week; the
remaining addresses’ Bitcoin holding decreased, from 36.66% last week to
36.37%, 0.29 percentage points down.
Huobi Blockchain Big Data Weekly Insights
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Figure 11:Concentration of Wealth on ETH
Data Source: Huobi Research, Blockchain Node File
1.11 Large Ethereum Transaction Monitoring
The Huobi Research Institute classifies Ethereum transactions based on the
amount of the transfer: the amount of >50,000 ETH is an extra-large
transfer, the amount between 10,000 and 50,000 ETH is large transfers, and
the amount below 10,000 is categorized as others. This week, Ethereum
has 13 gigantic transfers; the number of large transfers is 152, a sharp
increase from last week.
Top10 , 11.73% Top10 , 11.78% Top10 , 12.23% Top10 , 12.48%
Top10-100 , 21.37%
Top10-100 , 21.02%
Top10-100 , 21.15%
Top10-100 , 21.27%
Top100-1K, 30.08%
Top100-1K, 30.39%
Top100-1K, 29.96%
Top100-1K, 29.88%
others, 36.82% others, 36.81% others, 36.66% others, 36.37%
12/12/2018 12/19/2018 12/26/2018 1/2/2019
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Figure 12:Large and Extra-large Transactions on ETH Network
Data Source: Huobi Research, Blockchain Node File
1.12 EOS On-chain Activity Analysis
EOS this week, the number of on-chain transactions was 5.04 million
(including transfer, RAM mortgage / purchase, CPU mortgage operation),
13.9% down from last week. The number of EOS accounts increased by
12,000 this week, the growth rate decreased by 48.7% from last week.
5934 33
165
38
422
140111
152
3 2 121
223
5 9 13
10K-50K 50K+
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Figure 13:EOS Transactions (in ten thousands)
Data Source: Huobi Research, Blockchain Node File
Figure 14:New EOS Addresses
Data Source: Huobi Research, Blockchain Node File
1.13 EOS DAPP Activity
EOS is currently the most active DAPP on-chain project (according to the
account EOS trading volume this week), the top 5 were Dice、PokerEOS、Royal Online Vegas、EOS Knights、Endless Dice, all for gaming
14921979 2184 2361
3127 3150
4047
31913638 3805
5850
5039
21519
36091
2572724971
29128
1548015284
32981
23074
12640
19077
23432
12029
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applications except for EOS Knight.
On this basis, the Huobi Research Institute counted the EOS transaction
volume and the number of transfers in the currently active 228 EOS DAPP
projects. In this week's EOS active DAPP, gaming DAPP accounted for 85%
of EOS trading volume (84% last week) and 88% of transactions (87% last
week). It had the largest proportion of all DAPPs, and the proportion
continued to increase.
The DAPP activity on EOS this week increased by 8.8% from last week.
As in last week, this week's EOS DAPP active top 10 DAPP consist of 9
gaming projects and 1 exchange project (EOS Knight).
Figure 15:EOS DAPP Activity
EOS DAPP Categorization( 1.By Transaction Volume 2. By Number of Transactions)
EOS DAPP Number of Transactions by time
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Source:DAPPRADAR, Huobi Research
2. Social Media Data
2.1 Key Words (China)
The Huobi Research Institute conducted word segmentation through Natural
Language Recognition (NLP) and summarized three major categories of
keywords “Digital Currency”, “Events” and “Exchanges and KOLs” from
the posts and responses of Babbitt, the largest blockchain forum in China.
In the field of digital currency, Bitcoin, Ethereum and EOS are the three
most popular currencies. Bitcoin's main topics discussed this week are
currency price and trading strategy. This week's topic of EOS is that some
EOS DAPPs have been attacked recently, which has raised concerns about
EOS security. The main discussion about Ethereum is the upgrade of the
Constantinople.
In terms of hot events, the top three are “bear market”, “bull market”,
and “forking”. "Bear market" and "bull market" appeared in the top
three of the discussion list at the same time, indicating that the price of
digital currency has rebounded sharply recently. Investors have different
opinions about the future trend. The sharp increase in the discussion of
"forking" is mainly due to the recent bifurcation discussion about
Constantinople's upgrade.
In the KOL field of the exchange and the currency circle, Huobi, Binance
and Justin Sun occupy the top three attention of the community. Huobi
and Binance mainly discuss daily exchange issues. The surge in discussion
about Justin Sun was mainly due to his reply to Jed McCaleb, which did not
regard Stellar as a competitor at all.
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Figure 16:8btc.com Word Analysis
Data Source:Huobi Research
2.2 Key Word This Week (Overseas)
Similarly, the Huobi Research Institute summarized "digital currency",
"event" and "exchange and KOL" three categories of keywords based on the
"Crypto Currency" articles and response on the largest foreign forum Reddit
In the field of digital currency, BTC, ETH and XRP are the three most
popular currencies. The main topics discussed by BTC and XRP this week
focus on currency and trading strategy. ETH's main discussion on the
forking scheme of Constantinople.
In terms of hot events, the top three are “Scam”, “Wallet” and “Mining”.
This week, "Scam" is mainly about fraud projects and anti-fraud means of
discussion recently. “Wallet” is mainly about the choice and function of
wallet. And the discussion of “Mining” is mainly about whether it is
necessary to persist in Mining as bitcoin cannot make ends meet due to the
falling price.
In the field of exchange and currency circle KOL, “Coinbase”,
“Satoshi” and “Binance” are most discussed abroad. "Coinbase" and
"Binance" mainly focuse on conventional topics between platform users,
including login problem, transaction problem, rate problem, etc. "Satoshi"
mainly discusses about 10th anniversary of bitcoin, a decade of
speculation about Satoshi nakamoto's true identity.
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Figure 17:Word Analysis
Source:Huobi Research
2.3 Github Code Activity This Week
This week's mainstream cryptocurrency in the Github community, The projects with the most new lines of code are 1) ETH 2) IOTA 3) ADA The projects which have most new replications are 1) BTC 2) ETH 3) EOS; The projects with the largest number of commits are 1) XMR 2) BTC 3) XRP; The projects that have most issues are 1) IOTA 2) DASH 3) EOS The projects winning most new likes are 1) ETH 2) BTC 3) EOS The projects winning most new watchers are 1) BTC 2) ADA 3) IOTA
Figure 18:Github Activity
Source:Github,Huobi Research
new lines of code # of forks # of commits
# of issues New likes New watchers
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3. Market Data
3.1 Rate of Return/ Trading volume
This week, digital currency rebounded from last week, and digital currencies
respectively have risen to some extent. IOTA rose 18% this week, with the
highest growth rate, and NEM dropped 5.88% this week, with the highest
drop rate. This week, trading volume of most cryptocurrencies has
increased. The most obvious increase is Maker. The trading volume has
increased by 57%. The most obvious decline in trading volume this week is
ETC which is 43% lower.
Figure 19: Rate of Return vs. Price Volatility
Source:CoinMarketCap,Huobi Research
3.2 Cryptocurrency Correlation
The trend of ETC this week is relatively independent and has a low
correlation with other digital currencies. Other digital currencies are
highly correlated with each other. The most relevant ones are BTC and
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LTC, with a correlation coefficient of 0.97. IOTA and Stellar have the
lowest correlation coefficient, which is 0.25.
Figure 20:Pearson Correlations Matrix
Source:Huobi Research
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Huobi Research
About Us:
Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
Huobi Data Analytics Weekly aims to provide participators of the cryptocurrency market with
the most up-to-date and comprehensive database to help them facilitate decision-making process.
Contact Us:
E-mail: huobiresearch@huobi.com
Jianshu: 火币区块链
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https://twitter.com/Huobi_Research
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https://medium.com/@huobiresearch
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Website: http://research.huobi.com/
Disclaimer:
1. Huobi Research does not have any form of association with Blockchain projects or other third-parties mentioned in this
report that could jeopardize the objectivity, independence and fairness of this report.
2. All outside information, data referenced in this report is from compliant and legitimate sources that we deem as reliable, and
Huobi Research have conducted the due diligence concerning its authenticity, accuracy and completeness, but such due
diligence does not provide any guarantee.
3. This report is only for reference purposes. Conclusions and viewpoints in the report do not constitute any form of investment
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