Crypto Researcher Uses OnChainFx to Show Exchange Trade Volume Disparities in New Report
Disparities Seen In Trade Volumes of Key Virtual Assets: Report
A virtual asset researcher known as Kevin Rooke recently published information which led to an uproar among Twitterattis. According to his analysis on a number of virtual assets, there are a couple of things that raises eyebrows.
The analysis was conducted on the OnChainFx which has over four hundred lively addresses, which operate over a period of 24 hours, which then make up an index. The fact that a number of key cryptos like Tron, Ripple and Iota were missing in the index led to an upsurge of comments on social media.
The index is usually centered on the transaction volume of the virtual asset. This therefore becomes a robust pointer of the level of usage of the crypto. In many ways, the index compares the number of users who are making transactions. This is contrary to transaction dimensions. According to Rooke, his analysis of the index in comparison to the actual transaction volume of cryptos indicated a couple of variations. On his Twitter post, he asserted that if there was ever a time to panic sell, or ‘buy the dip’, then the best time would be today.
One of the virtual assets which apparently appeared on the twentieth position on the top cryptos also made it on the list. In his analysis, Rooke found out that Dogecoin has just over 135,000 active consumers on any given day. However, the actual trade volume of the crypto was less than $37 million.
The Missing Virtual Assets
One of the key cryptos which was interestingly missing is the 3rd largest virtual asset by market cap, which is Ripple. In actual sense, the crypto features over $227 million in a day’s trading volume. However, it did not appear on Rooke’s list. Additionally, on the OnChainFX, XRP did not show any data for the day’s active addresses. Other notable virtual assets which were not on the list include NEM, IOTA, and Binance Coin.
A number of virtual asset enthusiasts grumbled that the data presented by Rooke was incomplete. This is due to the fact that the list did not name NX, KMD or Tube, which according to them, had well over four hundred active wallets.