Premium Cryptocurrency Market Rubika News Stats Compilation
We are a few days away from the end of the first month of the year 2020 and we are pleased to know that the market has behaved positively in this period of the year.
We believe it is relevant for this moment, to bring you the latest statistics and news from the cryptocurrency market as a basic strategy to make decisions in the coming weeks to come.
We also want to apologize for not continuing our Crypto Netflix series. The reason for this was the high volatility of the last days. Fact that made most of the technical analysis we had already done were invalidated. Then we have no other way but to perform a detailed analysis for you again.
With everything and everything we have said so far, we want to leave you then with the compilation of the latest advances and curiosities of the market.
Coinbase At The Top
longhash recently issued a subject explaining that Coinbase has by far the largest amount of Bitcoin of all crypto exchanges, and its holdings grew substantially over the past year.
In addition, that growth was relatively stable, apparently unaffected by price ups and downs. It is expected to exceed the 1,000,000 threshold very soon.
Coinbase’s apparent dominance and steady growth may be because it attracts a large share of long-term institutional investors, who are less concerned with short term price swings, says the report.
Binance The Most Loved
In the same previous report, he explains that Binance continues to be the most loved exchange for all members of the cryptocurrency community.
Binance maintained its position as the second-largest exchange for most of the year, and its holdings oscillated without showing an obvious trend, says the report.
DeFi Is The Future
tradeblock sent us a report explaining the growth framework of what could be the next world economy or DeFi, acronyms used to refer to the decentralization of finances.
The report explain that the amount of ether locked across various decentralized finance applications hit a new all-time high recently. The DeFi space has seen heightened usage over the past several months with DEXs seeing increased trading activity and lending platforms seeing an increase in loan origination.
Many DeFi lending and margin trading platforms require collateral in the form of a digital currency in order to back loans and other financial products. Because a majority of these products are built in the Ethereum ecosystem, most require collateral in the form the ecosystem’s native token, ether.
In the figure below we diagram the amount of ether locked across DeFi platforms over time, says too the report.
Futures And Options Market
The last few weeks have further slowed down Bakkt’s momentum, as explains beincrypto. The ICE-backed exchange has not seen an options trade in at least 10 days. Despite massive volume spikes at the beginning of the year, its options market has since slowed down, and according to skew data.
In another hand the news explain that the monthly futures trading continues to dwindle as well, although it still maintains some healthy volume. On Jan 14, the exchange recorded $28.8M in trading volume but saw a low of $4.4M on Jan 20.
What we do know is that the interest in the negotiation of future contracts for Bitcoin and Ethereum has been increasing over the last days, according to what the latest data on skew.com.
The Correlated Correlation
One of the things we want to highlight here, and after the last market move in favor of bulls and some studies done by ourselves, is the fact that within the fiat market most currencies are leading a trend correlated with the capital inflow.
In other terms, we want to explain that the correlation of Bitcoin with other currencies and according to the movements made by the market, is mostly making the same movement and leading the same direction.
The one-to-one correlation each day increases more within the main cryptocurrencies and according to the skew data.
According to this indicator and if the market follows this positive movement, we will probably see in the coming months a less manipulated market than the previous years.
Banks In Favor With Enemy
An interesting and recent study explains that banks are finally opening the doors to cryptocurrencies. An increasing number of central banks are looking into issuing digital currencies.
A survey of 66 central banks by the Basel-based institution showed that some 80% were engaged in the matter, up from 70% the year before.
The proportion likely to issue a digital currency to the public in the 1–3 years doubled to 10%, explains the report.
Together with the above, the fact that the World Economic Forum announces the first global consortium focused on designing a framework for the governance of digital currencies, including stablecoins.
Again, our opinion is that which derives from saying: if you cannot with the enemy there is no other way but to walk with him.
Bitcoin In The Clouds
While the latest report on the IEOs says that relatively the return on investment is dead, Bitcoin is being seen as too volatile to be a reliable store of value (market price in USD) and according to dbresearch.
In the case of IEOs, the report explains that there appears to be a clear relationship between the return and the number of days since the IEO. The average return of IEOs approaches 0% in 200 days. In other words, nearly no one wants to hold IEOs long term.
In the case of Bitcoin, the related report says that Overall, cryptocurrencies are still in the early adoption stage and we should expect further experimentation to take place in the context of a rapidly digitizing society and a post-financial-crisis environment.
Although the number of stores is small, the growth trend is noticeable among online travel booking platforms such as CheapAir, and through retailers such as Newegg and the telecommunications company AT&T.
To this fact is added the growth of Google searches of the term of the largest and most anticipated event of the year. Our dear Bitcoin Halving.
See you in the next story! With love 💛 Rubika Ventures Team!
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With that, we just want to extend the invitation for us to build a new decade in this market with many successes and good profits.
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Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.