As always, Bitcoin stands on the entirely different plane from other cryptocurrencies, sporting a monstrous volume equivalent to 653 170 485 253,00 USD - 56.18% more than it’s previous monthly volume. Bitcoin Cash is second. Leagues behind Bitcoin but well ahead of its competition with a monthly transaction volume of 59 664 284 450,00 USD, which is 19.21% less than the volume of the Bitcoin Cash in June. Ethereum takes up the next place; its monthly volume has dropped by -9.87% down to 19 376 925 910,00 USD. Litecoin is ranked fourth. A monthly decrease of almost exactly 36% has brought its monthly volume to the 13 278 274 366,00 USD. Dogecoin is the only other top-5 coin aside from BTC that sports an increase in volume during July, and a hefty one at that. Due to an increase of 42.64%, its monthly volume has reached 4 188 530 511,00 USD.
The second chapter of this crypto report covers the number of cryptocurrency transactions conducted on cryptocurrency blockchains over the last 7 and 30 day periods.
According to it, the blockchain of Ripple has endured the largest number of transactions - 31 486 672,00, which is 15.89% more than last month. Ethereum is second despite a -14.2% negative growth, with 23 161 971,00 transactions. The blockchain of Bitcoin has verified -3.72% fewer transactions than during previous analyzed period, placing it third with 10.43kk monthly transactions. The number of Bitcoin Cash transactions, on the other hand, grew by 10.06% to 1 624 083,00, placing it fourth. Despite a slight decrease of -4.47%, Ethereum Classic ranks fifth with the 1 265 272,00 ETC transactions during the last 30 days. Litecoin takes up the next place with 933 933,00 transactions and a -5.36% decrease over the month. Dogecoin experienced a similar decrease of -5.99%, which brought its transaction number down to 860 418.
With the recent positive trend, Bitcoin only strengthened its position as a gateway between crypto and fiat worlds: For every 100$ in Bitcoin transactions, 98.29 are direct BTC/USD exchanges, which is 36.64% more than during the previous month. Following the same train of thought, for every 100$ in BCH transactions, only 0,65862714 USD correlates to the actual BCH/USD transactions, which is -96.95% less than during June. The rest of the currencies follow suit. Due to a drop of -80.97%, only 0,56569244% of all Ethereum transactions involve USD. Likewise, Litecoin’s share has dropped by -85.88% and is now only 0,40390932 USD for every 100 USD in LTC transactions. Similarly, having dropped by -88.63%, Dogecoin’s share of Direct Currency/USD Transactions is now only 0,04745681 per 100 USD. Dash is the last currency with any meaningful amount of direct currency/USD transactions: for every 100 USD of Dash’s monthly transaction volume, 0,01844093 USD belong to DASH/USD exchanges.
Disclaimer: the content is for informational purposes only; you should not construe any such information or other material as an investment, financial, or other advice. Nothing contained in this report constitutes a solicitation, recommendation, endorsement, or offer by Corindex or any third party service to buy or sell any cryptocurrency assets or other financial instruments in any jurisdiction.
