Movers and Shakers: Top Cryptocurrencies for the Week Ending 11/17
For this analysis, I will be pulling in the full breakdown of coins from CoinMarketCap.com into Google Sheets.
I will be using the Spreadstreet Google Sheets add-in, Twitter, Reddit, and my (small) brain.
The sheet will include the following:
- The CoinMarketCap coins breakdown that you can find here
- % Gainers > $10M
- % Gainers > $100M
- % Gainers > $1B
- % Losers > $10M
- % Losers > $100M
- % Losers > $1B
Please note that nothing in this analysis should be construed as financial advice.
TOP GAINERS OF THE WEEK
BitBay was the top gainer in the >$10M bracket
What is BitBay?
BitBay is a Proof of Stake cryptocurrency with a 1% APY in staking rewards. BitBay provides many additional tools like smart-contract capabilities, an in-wallet decentralized e-commerce platform, “Pay-to-Email” transactions, asset pegging and more.
Where does the “Bay” come from? Well, wanting to be the eBay of cryptocurrencies, of course.
What drove the price increase?
On November 15th the developers of BitBay announced a large increase to the block reward (from 1.5 to 20).
Hshare was the top gainer in the >$100M bracket
The Optimist’s Take on Hshare
Hshare is a dual network blockchain comprised both of a blockchain-based network and a DAG-based network.
It allows for anonymous transactions through the use of zero proof technology. The blockchain-based side of Hshare features a PoW/PoS cryptocurrency.
The Cynic’s Take on Hshare
Some changes have come to the code base of Hshares recently:
- They’ve decreased the Proof-of-Work (POW) reward from 60% to 45%, and increased Proof-of-Stake from 30% to 45%.
- Replaced the airdrop with an ICO. Airdrop means a coin/token is distributed to the community for free or for small tasks. This is done to ensure early distribution and to have as many people with “skin in the game” as possible.
- The coin reward decay curve has also changed to give the coins out more quickly
The combination means that the majority of the coins will always lie with the ICO people.
TOP LOSERS OF THE WEEK
Overall the week was a pretty solid gainer for most cryptocurrencies. Even…
Ripio Credit Network was down 20%…
But that was more a function of a nice increase from the week before.
How you can get your very own CoinMarketCap dashboard in Google Sheets
If you haven’t already, install the Spreadstreet for Google Sheets add-on from the Chrome Store.
Step 1: Make a copy of the worksheet. Click the picture above, click on File — Make a Copy
Step 2: Open the template, click the menu Add-ons / Spreadstreet / Help
Step 3: Click “View in store”
Step 4: Important Click Manage and in the dropdown menu click “Use in this document”
The numbers in the spreadsheet should now update. If they do not, refresh the template. The CoinMarketCap data includes 1,200 coins, so the pull can take a few seconds before it populates the “Data” tab.
Helpful resources
Download the add-in: https://spreadstreet.io/tools/google-sheets-add-in
Help: https://spreadstreet.io/docs
First time install and login: https://www.youtube.com/watch?v=aLjtPR4T2bg
CoinMarketCap ticker endpoint help: https://spreadstreet.io/knowledge-base/coinmarketcap-api-ticker-endpoint/
