The Price Of Electronic Currencies Is Not Always Associated With Network Activity – Expert
An analytical portal longhash conducted a study that showed that the cost of cryptocurrency is not always directly related to high activity on the internet.
According to the actual analysis, there is a different correlation between the price of the electronic currency and its throughput. According to researchers, there is no direct connection between the volume of transactions and the cost of cryptocurrency.
If you repel from long-term indicators, some takens, such as ltc, really periodically demonstrate a strong relationship between prices and number of users. At the same time, there are in mind the transaction produced within one day.
During the study, experts focused on indicators 18 cryptocurrency with the greatest market capitalization. Prices and number of active addresses were correlated. At a minimum one-year interaction period was analyzed, while cryptocurrencies were analyzed for longer intervals.
Pearson’s correlation coefficient depending on the token fluctuates from 1 to -1. This means that despite the fact that for some electronic currencies, the relationship of activity and prices is characterized, there are also those for which this relationship is not obligatory.
Strong correlation can be traced at neo, ltc, btc and link. Weak mutual influence indicators demonstrated trx, bsv, xem, etc, xlm, xtz, mkr and bat. Separate class of cryptoacivals researchers allocated thanks to the eth token. The fact is that cryptoacive is used as a a tool when working applications, therafore an increase in the number of transactions may not be associated with speculative interest.
According to the greatest voltility on cryptocurrency markets are earlier in earlier morning – 4:00 moscow time.
Recall that the rise in prices of chines cryptocurrencies may be associated with the statements of the importance of the innovative technologies.
See also: cryptovalut rating in 2019