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A report from Asian exchange Huobi analyzed the results of the last week in the crypto world, explaining that there was a 9.13% increase in cryptocurrency capitalization.
The $2 trillion barrier of the total value was breached once again.
Falling volumes
However, according to Huobi, Daily trading volume in the second week of October fell by 16.25% compared to the previous week.
40 of the top 100 cryptocurrencies increased their daily volume, led by Nu, which recorded an increase of 2043.28%.
In contrast, other cryptocurrencies decreased their daily transaction volume, with 10 of them seeing their volume decrease by more than 50%. MIOTA experienced a 74% decrease
Crypto market capitalization dominated by BTC
The top ten cryptocurrencies now account for around 81% of total market capitalization, up 1.27% from the previous week. Bitcoin’s capitalization alone accounts for 46.34% while Ethereum covers 18.13%.
The average capitalization of the top 100 cryptocurrencies is $27 billion, an increase of 5%.
Mining data in the Huobi report
As far as mining is concerned, the Huobi report shows how the hashrate (unit of measurement of network processing power) of Bitcoin and Ethereum has increased.
From 11 October 2021 to 17 October 2021, the average bitcoin hashrate for the entire network reached 146.4 EH/s, up 0.83% from the previous week.
The average hashrate for the entire Ethereum network was 746.61TH/s this week, up 1.44%.
In the past week, Bitcoin mined 1019 blocks, up 1.19% from the previous week. In the same period, Ethereum’s entire network mined 47166 blocks, up 3.85% from the previous week.
In terms of the size of individual blocks mined, the size of Bitcoin increased by an average of 0.83%, while the size of Ethereum decreased by 12.3%.
The number of unconfirmed Bitcoin transactions decreased by 39.88%, while the number of unconfirmed Ethereum transactions increased by 0.72%.
As for Bitcoin’s average transaction fees, they were $3,564 this week, up 9.06% from last week. Ethereum’s were $28,706, up 18.28% from the previous week.
Tron is the queen of social media
Statistically speaking, Tron has seen record growth in fans on social media sites like Facebook, with 94,000 more followers. Leading this particular ranking after Bitcoin with 3.4 million followers is XRP with 2.1 and Ethereum with 1.6 million fans.
Funding in progress
Leading the way in funding this week is Celsius with $298 million which has taken the company’s value to $3 billion.