Corindex has released a cryptocurrency exchange report for June 2019 featuring the key crypto exchange data as well as some insights on the actual value of coins during the analyzed period.
In cryptocurrency space, the actual price you can get for a coin often differs, sometimes drastically, from what is shown by cryptocurrency price aggregators or even displayed by the crypto exchange of your choice. And the disparity only increases depending on two main factors. Usually, the more you want to buy or sell, the more enticing a price you have to offer, so the volume of transaction is the first factor. The second one is the current volume of the coin or token pair you are interested in on the exchange you are using. Of course, there are things such as a currently dominant direction of the market, but they do not affect the price you are getting nearly as much as the aforementioned two. So now that we’ve noted that there is an actual difference between the monthly average price of the cryptocurrency and the price the most transactions are conducted at, let us take a look at Average Weighted Currency/USD Rate, factoring in the volume of performed transactions and rates those transactions are performed at.
Thusly, Litecoin’s value in June is 104.72$, almost a 41 percent increase when compared to the previous month. Binance Coin had shown similar results with a 40.18% increase, which brought it up to 30.92USD. Ethereum closely followed suit, achieving 39.72% growth during June, Bitcoin Cash comes fourth, boasting a monthly growth of 35.89%, Bitcoin’s average monthly weighted USD rate is 7 738,26 USD, a 35.64% gain over May, fostering it up to a round number of 388.00 USD. The last of gainers with over 30% increases was Zcash, which exhibited 32.28% growth during the period of assessment. Byteball Bytes stood out with a -22.31%, bringing it down to 32.23 USD, which is truly astounding considering the overall strong positive trend.
Oh, and in case you are wondering how these numbers are derived, the formula is as follows: Average weighted Currency/USD exchange rate = [(Rate t1 x transaction volume.t1) x (Rate t2 x transaction volume.t2) x,…,x (Rate tN x transaction volume.tN)] / (Transaction volume.t1 + transaction volume.t2 + ,…, transaction volume.tN)
Another important indicator reflecting the amount of activity surrounding particular coins is currency transaction volume revealing how much currency has changed hands during the analyzed period.
According to the report, almost one trillion TRX, 964 834 969 995,79 coins to be precise, changed hands during June — a 57.74% upsurge. Dogecoin follows suit with a positive dynamics of almost fifty percent and a monthly volume of 615 569 893 339,24 pieces. Holo showed great results, with 94.4% increase bringing it up to 466 133 219 272,31 coins traded. There were 282 581 633 030,86 and 178 530 038 733,46 units of Zipper and Ripple traded, exhibiting a positive monthly dynamics of 63.86% and 77.7% respectively. One other coin worth noting in this chapter is Po.et, which has risen its monthly currency transaction volume by a whopping 2394.63%. The total number of Po.et coins that changed hands during June is 73 826 465 395,61.
Currency refined transaction volume indicates the total volume of operations as well, by now it’s expressed in USD and USDT and calculated by this formula: The volume of Currency transactions = (Vtransaction. Currency/USD and Currency/USDT exchange 1) + (Vtransaction. Currency/USD and Currency/USDT exchange 2) + ,…, + (Vtransaction. Currency/USD and Currency/USDT exchange N).
According to it, the combined value of all TRX exchanged during the period of assessment slightly exceeds 75.5 billion dollars — a positive change of 51.65%. Despite the decline of minus one percent, Zipper retains the second position, with almost 60B$ worth of ZIP moved. Holo goes third with close to 50B$ — a massive positive trend of 208.1%. Dent is fourth, having declined by almost 11%, it still retains a volume of 39 201 079 791,42 USD/USDT. Dogecoin closes this top 5, boasting a monthly increase of 21.73%, which brought it up to the total volume of 33 135 729 193,22 USD/USDT.
Сurrency USD transaction volume tells the story of how hard cryptocurrencies are connected to fiat.
In June 2019, the value of Bitcoin operations reached 732 983 190 285,00 USD, which constitutes a 70.07% gain when compared to the previous month. The second largest value of crypto/fiat operations belongs to Ethereum, which has a monthly fiat transaction value of 318 829 254 613,00 USD — a 63.62% upsurge. Litecoin is the last currency with monthly fiat/crypto volume of over 100B USD, boasting an increase of almost exactly 52 percent, which brought it up to 127 272 970 103,00 USD monthly transaction volume. Ripple was the biggest gainer in this category: with a positive change of 120.8%, it boasts a monthly USD volume of almost 71B. Zcash is the second-biggest gainer in a fiat-crypto category, having increased by close to 100% during the analyzed period and achieving a monthly volume of 14 458 868 203,00 USD.
Like in any market, in cryptocurrencies even more so, assets change hands extremely frequently. This leads to huge transaction volumes, when, in fact, the actual amount of currency utilized may not have been that impressive. This chapter tackles this issue by providing data on cryptocurrency/USD and cryptocurrency/USDT refined transaction volume.
According to the information in it, the sum of USD and USDT used in all June’s transactions with Bitcoin is only 35 600 568 404,74 USD — more than 20 times less than the unrefined transaction volume, and an 87.76% increase instead of 70.07% one. Similarly, the sum of USD and USDT circulated in all transactions concerning Ethereum is 15 903 701 600,93 USD, a 96.73% upswing compared to previous monthly results. EOS and Litecoin advertise similar numbers: 10 686 084 738,09 USD and 10 570 903 977,53 USD respectively, which constitute monthly increases of 70.19 and 157.13 percent.