• According to the Huobi report, crypto capitalization has increased by 9.13 percent

  • An Asian exchange report Huobi examined the results of the previous week in the crypto world, revealing a 9.13 percent increase in cryptocurrency capitalization.

    The total value barrier of $2 trillion was breached once more.

    Volume reductions

    According to Huobi, daily trading volume fell 16.25 percent in the second week of October compared to the previous week.

    40 of the top 100 cryptocurrencies saw an increase in daily volume, led by Nu, which saw a 2043.28 percent increase.

    Other cryptocurrencies, on the other hand, saw a decrease in daily transaction volume, with ten of them seeing a drop of more than 50%. MIOTA experienced a 74% decrease.

    BTC dominates the crypto market capitalization.

    The top ten cryptocurrencies now account for approximately 81 percent of total market capitalization, an increase of 1.27 percent from the previous week. The capitalization of Bitcoin alone accounts for 46.34 percent, while Ethereum accounts for 18.13 percent.

    The average capitalization of the top 100 cryptocurrencies is $27 billion, representing a 5% increase.

    Data mining in the Huobi report

    In terms of mining, the Huobi report shows how the hashrate (network processing power unit) of Bitcoin and Ethereum has increased.

    The average bitcoin hashrate for the entire network reached 146.4 EH/s from 11 October 2021 to 17 October 2021, an increase of 0.83 percent from the previous week.

    This week, the average hashrate for the entire Ethereum network was 746.61TH/s, an increase of 1.44 percent.

    Bitcoin mined 1019 blocks in the last week, an increase of 1.19 percent from the previous week. During the same time period, the Ethereum network as a whole mined 47166 blocks, an increase of 3.85 percent from the previous week.

    In terms of the size of individual blocks mined, Bitcoin increased by 0.83 percent on average, while Ethereum decreased by 12.3 percent.

    Unconfirmed Bitcoin transactions decreased by 39.88 percent, while unconfirmed Ethereum transactions increased by 0.72 percent.

    The average transaction fee for Bitcoin was $3,564 this week, up 9.06 percent from the previous week. Ethereum’s price was $28,706, up 18.28% from the previous week.

    Tron is the social media kingpin.

    Tron has seen a statistically significant increase in fans on social media sites such as Facebook, with 94,000 more followers. After Bitcoin (3.4 million followers), XRP (2.1 million) and Ethereum (1.6 million) are at the top of this list.

    Funding is currently being sought.

    Celsius is leading the way in funding this week, with $298 million, bringing the company’s valuation to $3 billion.

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