Analysis of the latest data on the chain, insight into the future trend of the industry.
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On November 21, the total market value of the global digital currency hit a new low this year to 140,423 billion DOLLARS, down nearly 83% from the year’s peak of 815.137 billion dollars.
Since November 14, bitcoin has been falling, falling below $6,000; It hit a 13-month low of $4,300, down 78% from its peak earlier this year.
Investors have sold short, while many mining machine models of mining income has also fallen sharply, some miners have been unable to maintain.
“Bitcoin crash” and “Bitcoin breaks down the cost of mining machines” were the hottest topics on Weibo recently. Although the stock market was also in a state of shock, the plunge of bitcoin stood out.
Since July this year, BTC and ETH have become decouple. In August, a large number of ETH funds flowed into the exchange to buy BTC, bringing BTC gains; From September to October, the two trends were re-linked; BTC led the cryptocurrency market lower in November.
While the BCH fork was blamed for the fall, BTC and ETH are the more mainstream currency benchmarks in the cryptocurrency market. Today’s on-chain news will talk about the latest data developments of both.
According to Gikee Blockchain browser data:
BTC’s on-chain transaction amount in the last 24 hours was 995463.71 BTC, down 19.34% year on year;
The number of BTC on-chain transactions in the last 24 hours was 25,174, down 3.72% from the previous day.
BTC’s single large transfer of more than 100 BTC totaled 842 yesterday, down 16.63% compared with the previous day;
The number of active BTC addresses yesterday was 644,144, up 4.43% from the previous day;
BTC added 306,568 new addresses yesterday, down 0.97 per cent from the previous day.
Analysis believes that although the current BTC trading enthusiasm is still a downward trend, its market after three days of sharp decline, the market panic spread, in view of the current overall disk is still weak, the market decline can not reduce the amount of insufficient,Rebound demand has increased.
According to Gikee Blockchain browser data:
ETH’s on-chain turnover in the last 24 hours was 2777293.1 ETH, down 24.36% year on year;
The number of ETH on-chain transactions in the last 24 hours was 569,178, down 1.77% year on year;
Yesterday, there were 270 large transfers of ETH over 1000 ETH in total, down 33.17% compared with the previous day;
The number of active ETH addresses yesterday was 411,590, up 2.01% from the previous day.
The number of new ETH addresses yesterday was 109,059, up 7.63 percent from the previous day.
Analysis believes that ETH chain activity is rising steadily, suspected to be part of the fund has been bought, in the short term, there is a demand for rebound.
According to Gikee browser data, on Nov. 22, more than 110,000 contracts were created at the same address, which is a thousand-fold increase from regular market value and still growing. Since ETC branched from ETH in 2016, there are only 500,000 contracts in total. 20% of the contracts were created yesterday, and about 110,000 contracts were created by address:
0x0000000000b3f879cb30fe243b4dfee438691c04
Duplicate contracts created (duplicate contracts are contracts with exactly the same code).
Analysis shows that the attacks are suspected to attack the ETC main chain and consume computing and storage resources of the main chain. These attacks are still happening. At the same time, the number of active addresses in ETC was 64070, up 145.33% compared with the previous day. The number of new addresses in ETC yesterday was 31177, 498.64% higher than the previous day; It indicates that the surge of ETC market activity index may be related to this event, and investors are advised to pay attention to relevant fluctuations.