Weekly performance statistics of the top 5 cryptocurrencies | CryptoNews

Bitcoin recovered last week. It rose in all the main parameters except for the adjusted speed, which fell 0.1%, as determined by the Coin Metrics analysis that worked on the data collected from the 5 main cryptocurrencies in the week of September 2 to 8.

In particular, the Bitcoin hash rate (BTC) (+ 9.2%), the average difficulty (+ 5.0%) and total mining revenues (+ 9.9%) continue to increase, which since the point of view of Coin Metrics analysts It is a good sign for general network security.

The effective capitalization of BTC also continues to grow, with an average of 0.7% per week. Effective capitalization is a metric created by Coin Metrics, which is calculated by valuing each unit of the offer at the price it had when it was last moved, with the idea of ​​weighing cryptocurrencies according to their real presence in the Bitcoin economy.

If the effective capitalization increased for Bitcoin, it was not the same for ETH, XRP and LTC. Especially for ETH that fell 0.9% compared to last week, while LTC decreased 0.5% and XRP 0.2%.

As a highlight of the network, the report highlights that the effective capitalization of BSV recently exceeded $ 1 billion, thus reaching its all-time high as of September 8, with USD 1,016,050,480.35. However, he notes that the hash rate of BSV (compared to BTC and BCH) is approaching its historical lows.

The Zcash hash rate (ZEC) reached a record high on August 13, but as the hash rate of the ZEC has been increasing, its active address count has been decreasing. This change coincides with the introduction by Bitmain of an ASIC team capable of undermining the ZEC in May 2018, and the vote of the cryptocurrency community against prioritizing ASIC resistance in the protocol end of June 2018, which suggests that the miners who use graphics cards (GPUs) were probably responsible for much of the use of the ZEC in the chain, according to the conclusion reached by Coin Metrics analysts.

Volatility increases only for Bitcoin

Analysts determined that as the commercial activity of several cryptocurrencies has decreased, it has caused general volatility falls to historical lows, or to lows for this market cycle. Even the annualized volatility of many currencies is now at a level similar to that of Bitcoin with an index of around 80 to 90 percent, while volatility during the previous peak regularly reached levels higher than 200 percent.

In particular, analysts point out that only Bitcoin volatility has increased in recent months compared to the 5 main cryptocurrencies, and cites factors such as its inconsistent sensitivity to geopolitical and macroeconomic events, to the greater use of leverage through the contracts of futures and occasional attempts to modify price movements.