huobi blockchain big data weekly insights vol. 22...1）this week, the number of active bitcoin...

Huobi Blockchain Big Data Weekly

Insights Vol. 222018/10/31-2018/11/7

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） This week, the number of active Bitcoin addresses increased by 7.6% to 3.98million, including 1.47 million newly created addresses, increased 7.2%. Therewere 1.92 million transactions happened on Bitcoin this week, up 8.6% compared to that of last week, reaching a 6-month high.

2） There were overall 23.61 million transactions on EOS this week, increased 8.1%compared to that of last week.

3） EOS dApp activity increased by 24%, in which gambling dApps accounted for91.8% of all EOS dApp activity.

Social Media Data：

BTC, Ethereum, EOS to be the top trending in China, same trending overseas; In the Events

category, “Rebound”, “Risk” and “Supervise” were the hottest words in China, while

“Scam” ,“Mining” and “Wallet” were the hottest words overseas; in the Exchange and KOL

category, “Huobi”, “Binance” and “ZB” were the hottest in China, while “Coinbase”,

“Binance”, and “Kucoin” were the hottest overseas.

Among Github repositories, ETH, BTC and EOS were the top Cryptocurrencies projects

that received the most stars in a week; BTC, ETH and XLM were the projects that received

the most watchers in a week; ETH, IOTA and ADA were the projects with the most code

commit submission this week

Market Trading Data：

In the cryptocurrency market this week, the price of Cryptocurrencies raised up more and

down less. The trading volume increased dramatically. BCH experienced the largest

increase of 43.34%; In terms of trading volume, BCH also has the largest increase of 213%.

Author

Yuming Hubery Yuan Hai Du Junjing Shi

[email protected]

mailto:[email protected]

Huobi Big Data Weekly Insights

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TABLE OF CONTENTS

FULL REPORT ..........................................................3

1. ON-BLOCKCHAIN DATA ..................................3

1.1 ACTIVE BITCOIN ADDRESSES ............................................................................... 3 1.2 BITCOIN TRANSACTIONS ........................................................................................ 4 1.3 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 .......................................................................... 7 1.8 ETHEREUM TRANSACTIONS................................................................................... 8 1.9 ETHEREUM TPS ....................................................................................................... 9 1.10 ETHEREUM TRANSACTION FEE .......................................................................... 9 1.11 CONCENTRATION OF WEALTH ON ETHEREUM ............................................. 10 1.12 ETH LARGE TRANSACTIONS MONITOR ........................................................ 10 1.13 EOS TRANSACTIONS ......................................................................................... 11 1.14 EOS RAM UTILIZATION AND VOTING PERCENTAGE 错误!未定义书签。 1.15 EOS DAPP ACTIVITY ........................................................................................ 12 1.16 ETH DAPP ACTIVITY ........................................................................................ 13

2. SOCIAL MEDIA DATA ..................................... 14

2.1 KEYWORD ANALYSIS (CHINA) .......................................................................... 14 2.2 KEYWORD ANALYSIS (OVERSEAS) ................................................................... 15 2.3 GITHUB CODE ACTIVITY ..................................................................................... 16 2.4 OVERALL TELEGRAM ACTIVITY ....................................................................... 17 2.5 POPULAR CRYPTOCURRENCY TELEGRAM ACTIVITY .................................... 18

3.MARKET DATA .................................................. 18

3.1 RATE OF RETURN/ TRADING VOLUME .............................................................. 19 3.2 CRYPTOCURRENCY PRICE CORRELATIONS ...................................................... 20

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Full Report

1. On-Blockchain Data

1.1 Active Bitcoin Addresses

This week, the number of active Bitcoin addresses increased by 7.6% to

3.98 million, rising in seven consecutive weeks and reaching a three-month

high.

Figure1：Active Bitcoin Addresses（in millions）

Data Source: Huobi Research, Blockchain Node File

There were 1.47 million new Bitcoin addresses created this week, increased

by 7.15% from last week’s 1.37 million.


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Figure2：New Bitcoin Addresses (in millions)


1.2 Bitcoin Transactions

The overall transaction volume on Bitcoin network was 6.09 million

BTC, increased by 8.6% from last week’s 5.6 million. There were overall

1.92 million transactions this week, increased by 8.6% compared to last

week, reaching a half-year high. The average trading volume per transaction

decreased by 0.1% to 3.17 BTC this week.

Figure3.1：Bitcoin Transaction Volume (ten thousand BTC)

Figure3.2: Number of Transactions on BTC (in thousand)

Data Source: Huobi Research, Blockchain Node File Data Source: Huobi Research, Blockchain Node File

1.3 Bitcoin Transaction Fee

The overall transaction fee on Bitcoin network decreased from 120 BTC to

117 BTC this week. Average transaction fee was 0.00006 BTC, decreased

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by 10% from last week.

Figure4: Bitcoin Transaction Fee (BTC)


1.4 Concentration of Wealth on Bitcoin

Concentration of wealth on bitcoin showed little change this week. Top

10 addresses held 5.73% of all Bitcoins, 0.01% less than last week; top 10-

100 addresses held 0.01% less Bitcoins than that of last week; top 100-1000

held 0.01% less Bitcoins than that of last week; other addresses held 0.03%

more Bitcoins than that of last week, reaching 64.11% of all Bitcoins.


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Figure5：Concentration of Wealth on Bitcoin


1.5 BTC Large Transactions Monitor

Huobi Research defines “extra-large transactions” as individual transactions worth over 10,000 BTC, and “large transactions” as those worth between 1,000-10,000 BTC. This week, there were 4 extra-large transactions on Bitcoin network. The number of large transactions drastically increased from 262 to 433 this week.

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Figure6: Large and Extra-Large Transactions on BTC Network


1.6 Bitcoin Transaction Volume Distribution

Transaction volume increased mainly for the category of 1,000-10,000

BTC, whose proportion of total weekly Bitcoin transaction volume

increased from 8.4% to 20.3%.

Figure7.1：Transaction Breakdown by Volume (in thousand

BTC) Figure7.2: Weekly BTC Transaction Distribution


1.7 Active Ethereum Addresses


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The number of active addresses in Ethereum has decreased by 5.8%

from 1.196 million to 1.127 million.

Figure8: Number of Active Ethereum Addresses (in millions)


1.8 Ethereum Transactions

The overall transaction volume on Ethereum has increased by 9.9% to

12.48 million ETH. There were overall 3.898 million transactions this

week, same with that of last week; average transaction volume increased by

10.2% from last week to 3.2 ETH.

Figure9.1：Total ETH Transaction Volume (in million ETH) Figure9.2: Number of Transactions on ETH (in million))


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1.9 Ethereum TPS

The average transaction per second (TPS) on Ethereum network this week decreased by 0.1 to 6.4 tps this week.

Figure10：Ethereum TPS


1.10 Ethereum Transaction Fee

The overall transaction fee on Ethereum network has increased from 10.4k

to 11.4k ETH this week, while the average transaction fee on Ethereum

network was 0.0029 ETH, increased by 9.4% this week.

Figure11：Ethereum Transaction Fee



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1.11 Concentration of Wealth on Ethereum

The concentration of wealth on Ethereum network has increased

compared to last week: top 10 accounts held 12.24% of all ETH, increased

by 0.17% from last week; top 10-100 addresses held 24.54% of all ETH,

decreased by 0.01% compared to last week; top 100-1000 addresses held

25.12% of all ETH, increased by 0.09% compared to last week; the rest

addresses held 38.09% of all ETH, decreased by 0.07% from last week.

Figure12: Concentration of Wealth on ETH


1.12 ETH Large Transactions Monitor

Huobi Research defines “extra-large transactions” as individual transactions

worth over 50,00 ETH, “large transactions” as those worth between 10,000-

50,000 ETH, “other transactions” as those worth less than 10,000 ETH. This

week, there were 2 extra-large transactions and 34 large transactions (there

were 59 large transactions last week).

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Figure13：Large and Extra-large Transactions on ETH Network


1.13 EOS Transactions

There were 23.61 million transactions on EOS this week (including transfer,

RAM collateral/purchase, CPU collateralization), increased by 8.1% from

last week, rising in seven consecutive weeks.


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Figure14: EOS Transactions (in millions)


1.14 EOS DApp Activity

Based on transaction volume, BetDice, EOS luckyMe, BET24, Blackjack-

EOS Poker, and EOS Seven were the 5 most popular EOS dApps this week.

Based on the information above, Huobi Research analyzed total number of

transactions and total transaction volume of all 140 currently active EOS

dApps. Currently, gambling dApps accounted for 80% of total EOS

transaction volume (82% last week)and 91.76% of total number of

transactions (90.1% last week), the most popular among all dApp categories.

The activity of EOS dApps increased by 24% this week, among which, that

of gambling dApps increased by 25%, that of cryptocurrency exchange

dApps increased by 244% (mainly due to whaleEx), and that of game dApps

decreased by 4%.

There were 13 gambling dApps, 1 game dApp (EOS Knight)and 1

distributed cryptocurrency dApp (whaleEx) among the 15 most popular

EOS dApps this week.

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Figure 15: EOS DApp Activity

EOS DAPP Categorization（1.By Transaction Volume 2. By Number of Transactions）

EOS DAPP Activity By Time

Source: DAPPRADAR, Huobi Research

1.15 ETH DApp Activity

Based on transaction volume, IDEX, Dice2win, CryptoKitties, Ethereum

Name, and ForkDelta were the 5 most popular ETH dApps this week.


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Based on the information above, Huobi Research analyzed total number of

transactions and total transaction volume of all 1137 currently active ETH

dApps. Currently, cryptocurrency exchange dApps accounted for 60% of

total ETH transaction volume and 35% of total number of transactions, the

most popular among all dApp categories.

Figure 16: EOS DApp Activity

EOS DAPP Categorization（1.By Transaction Volume 2. By Number of Transactions）

Source: DAPPRADAR, Huobi Research

2. Social Media Data

2.1 Keyword Analysis (China)

Huobi Research analyzed text using NLP Word Cloud to extract relevant

keywords and understand the overall sentiments from China’s largest

Cryptocurrency online community 8btc.com. Specifically, we break down

the keywords to three categories: Cryptocurrencies, Events, and

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Exchanges/Opinion Leaders.

In the Cryptocurrency category, NLP World Cloud Analysis suggests

Bitcoin, Ethereum, and EOS as the top Cryptocurrencies receiving the most

widespread attention, for Bitcoin and Ethereum, discussions mainly focused

on price and trading strategies. EOS, with the discussion mainly focused on

1) WhiteBlock research says EOS isn't even blockchain sparking

controversy; 2) EOS resource mortgage redemption.

In the events category, NLP Word Cloud suggests “Rebound”, “Rike” and

“Supervise” as the hottest words of the week. “Rebound” refers to: BCH

increased price makes some investors think it is the signs of a rebound

emerging ; “Risk” refers to the discussion on reasons for BCH price

increases and risk of pullback; “Supervise” refers to the discussion on the

investors' understanding of Hong Kong's securities and announced futures

commission (SFC) 's new digital assets regulation.

In the Exchanges/Opinion Leaders category, NLP Word Cloud suggests

“Huobi”, “Binance”, and “ZB” as the hottest words of the week, with

discussions mainly focused on daily exchange issues including log-in issue,

transaction, the rate and so on.

Figure17: 8btc.com Word Analysis

Source: Huobi Research

2.2 Keyword Analysis (Overseas)

We also performed NLP Word Analysis on Reddit’s r/CryptoCurrency

Subreddit to understand the trending topics and overall sentiments overseas,

and we similarly broke down the keywords into three categories:


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Cryptocurrencies, Events, and Exchanges/Opinion Leaders.

In the Cryptocurrencies category, NLP Word Analysis suggests BTC, ETH,

and EOS as the three cryptocurrencies that received the most widespread

attention this week. The discussions in China and abroad this week are

similar. For BTC and ETH, discussions on mainly focused on price and

trading strategies. Discussions on EOS focused on WhiteBlock research says

EOS isn't even blockchain project.

In the Events category, NLP Word Analysis suggests “Scam”, “Mining”, and

“Wallet” as the hottest words of the week. “Scam” refers to the discussion

on the recent spate of cryptocurrencies scams, how can investors guard

against scams; “Mining” refers to the discussion on 1) whether bitcoin

mining will cause global warming; 2) BTCC announced the closure of their

mining; “Wallet” refers to the discussion on advantages, disadvantages and

choices of major cryptocurrencies wallets

In the Exchanges/Opinion Leaders category, NLP World Analysis suggests

“Coinbase”, “Binance”, and “Kucoin” as the hottest words of overseas this

week, with the normal discussion on general topics among platform users

including log-in issue, transaction, the rate and so on.

Figure18: r/Cryptocurrency Word Analysis


2.3 Github Code Activity

Among all GitHub repositories this week， 1. ETH, IOTA and ADA were the projects with the most code rows; 2. ETH, EOS and NEO were the projects with the most forks; 3. BCH, XMR, and ADA were the projects with most code commit

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submissions; 4. ETH, IOTA and NEO were the projects with the most issue; 5. ETH, BTC and EOS were the projects with most stars; 6. ETH, BTC and XLM were the projects with most watchers

Figure 19: GitHub Activity

Source:Github, Huobi Research

2.4 Overall Telegram Activity

We measured the vitality of telegram community by the chat volume among the relatively active community telegram groups:

The top three activist telegram groups this week were: 1) EOS China (Chinese group), 2) EOS English group, 3) Ontology group.

Figure 20: Telegram Activity



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2.5 Popular Cryptocurrency Telegram Activity

We measured the vitality of EOS community by the chat volume among the selected EOS community telegram groups: EOS General Chat (English technology/ ecology group), EOS China (Chinese group); and measured the vitality of TRON community by the chat volume of TRONnetworkEN.

The number of chats in EOS community telegram groups increased, by 4,300, the number of TRON telegram groups hold the same with its number last week.

Figure 21: EOS Telegram Activity (in thousands)

Source: Telegram, Huobi Research Figure 22: TRON Telegram Activity (in thousands)

Source: Telegram

3.Market Data

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3.1 Rate of Return/ Trading volume

In the cryptocurrency market this week, the price of Cryptocurrencies

raised up more and down less. The trading volume increased

dramatically. BCH experienced the largest increase of 43.34%; In terms of

trading volume, BCH also has the largest increase of 213%.

Figure 23: Rate of Return vs. Price Volatility

Data Source: Coinmarketcap, Huobi Research


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3.2 Cryptocurrency Price Correlations

Correlation amongst assets is the degree to which they move in tandem.

The matrices above show Pearson correlations and p-values that are

computed from log-returns of volume-weighted average daily prices over

the past week. The Cryptocurrency price correlations is relatively high

this week, Cryptocurrencies price move in the same directions.

BCH and ETH, EOS and LTC had the highest correlation coefficients of

0.98; BTC and NEO had the lowest correlation coefficient of 0.59.

Figure 24: Pearson Correlations Matrix


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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.

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Website: http://research.huobi.com/

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