Bitcoin and Blockchain Statistics for a Week

Bitcoin and Blockchain Statistics for a Week

Bitcoin has gained ground on taking risks in the financial markets even as Ripple CEO continues to claim Ripple as a superior cryptocurrency. $7700 mark is an important support level for BTC and if BTC fails to secure the mark above $7700, a short decline is likely to follow. Yesterday on June 5, Bitcoin fell to $7400.

BTC is suffering from an intense downward trend and a sell-off from medium-sized holders and investors. This is causing the Bleed out of BTC. The sell-off of holders and investors is not being met with an increase in demand from the small and the large investors, as the daily trends indicate.

But the cryptocurrency market is extremely volatile and large-scale entrants can swing the market, especially when the volume of BTC is quite low. The past week of 30th May 2018 to 6th June 2018 indicated several results.

As per the industry resources, transactions on the Bitcoin Blockchain Ledger for the week of 30th May 2018 to 6th June 2018 amounted to 13, 79,841. Bitcoin liquidity index (BLX) indicated average price of the week as $7,530.22 USD which was up by 0.85%.

Brave New Coin (BNC) has developed the Bitcoin Liquid Index (BLX) to report a market price at which liquidity could enter or exit a Bitcoin position. It captures a global and comprehensive sample of liquidity n the highest volume and quality exchanges.

It calculates Miners revenue increased by 7.77% to $112,369,827 USD. The amount of Bitcoin transacted across the blockchain was 682,864K with USD equivalent of $5.14B USD. This shows a downtrend of 9.47%.
Average Blockchain transaction for the week was $3,726.60 USD which means there was a decrease of 12.45%. 14,787 new Bitcoins were created which amount to $111.34M USD of the new money supply. It showed a tremendous increase of 7.35%.

Bitcoin is traded by 50+ regional markets (fiat pairs) across 200+ trading platforms. The velocity of money for the week showed a decrease of 9.55% dropping the ratio to 0.0399.

Brave New Coin has summarized the above data in the form of a highly insightful infographic given here:
Weekly Infographic

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Aayushi Dhawan
Aayushi Dhawan is an avid reader, researcher, crypto writer and a passionate student. While pursuing her graduation in commerce at SRCC, she realized that writing and Finance give her immense pleasure. She is currently pursuing her post graduation in Commerce (Finance) from Department of Commerce, Delhi School of Economics and keeps on exploring the intricacies of research, her biggest strength.