Welcome to the 66th Bitshares State of the Network (BSotN) report. A weekly report focusing on the changes in the ecosystem and track longer term changes in a effort to identify emerging trends and changes in the Bitshares platform.
Bitshares - State of the Network - 20th December 2017
The Bitshares State of the Network Reports seeks to combine raw data from a wide range of metrics and combine them into meaningful information to identify emerging trends and changes in the Bitshares network.
Observation from this week
This section will highlight any observations made while analysing the data.
Massive week for Smartcoin market this week with huge increases to the circulating supply on a number of stablecoins. Overall Smartcoin markets have seen a 158% jump with a total USD value of 79 Million compared to 30 Million last week. BitCNY has seen an increase of 181% followed by Ruble with 144% and BitUSD with 113% growth W/W. All other smartcoin’s seen good growth and is best visualized in the ‘Smartcoin issuance chart’ below this section. An growing smartcoin ecosystem is an incredible good sign for the health of the Bitshares platform but this week has blown me away with its explosive move higher as Chinese exchanges look to serve citizens restricted by Chinas cryptocurrency/exchange laws which prevent the trade of fiat CNY to cryptocurrencies.
BigOne and KKCoin have both added BitCNY as a base pair against major markets this week. This is no doubt a trend that is being seen as Chinese exchanges look to server their customers with a stable base pair after the new Chinese regulations of Cryptocurrency exchanges. More information HERE
A new version of the Bitshares reference wallet was release this week (v2.0.171219). This new release has focused on deposit and withdrawal functionality but due time constraints during testing it has not been included in this release. This release has seen the introduction of a ‘News’ section that will publish items posted and resteemed by the @bitshares.fdn steem account as well as hierarchical top menu structure rather than presenting the large "cards". Full details of the new release can be found HERE
The Bitshares market cap has surpassed 1 Billion USD dollars this week and is tracking well toward 2 Billion. Currently sitting at 1.6 Billion USD.
This week has seen a 600%+ increase in trade volume across all pairs on traditional exchanges with 74% of trading volume coming from the BTC/BTS pair with a 24h value of 92 Million USD an increase of 694% from this time last week.
This week has seen an 11% increase in accounts holding BTS; that's 5625 new account (which have a positive BTS balance) in the last 7 days, this time frame has also shown 26105. This is all BTS being held in Bitshares wallets (not on Exchanges)
Bitshares featured on ZeroHedge article this week with new banking partnership with AriseBank. More info HERE
@Stan Larimer has done an interview with the 'Bad Crypto Podcast'. Listen to the recording HERE
The Bitshares foundation has released a report relating to the Bittrex discussions as well as other regulatory issues. Read the comprehensive report HERE
The Beyond Bitcoin Bitshares weekly hangouts have now moved to the Discord platform. You can join the Bitshares Discord HERE and also catch the latest hangouts streamed live on youtube HERE
Current registered wallets/accounts within the Bitshares network is 526654; an increase of 26105 wallets/accounts since last week
This week’s Bitshares hangout recording has been published and is available HERE
The last asset registered this week is asset #2638 and it is named ' IBATC’ registered by ‘ibatcoin1st' with the description ‘IBATC, known as IBATcoin, is a digital currency launched by the "international block chain asset trading platform" IBATcoin for incentives, voting, block chain investment, and so on.Registered in the international financial services center, the Republic of Seychelles in the Commonwealth, The members of the service are all over the world, and they will set up offices in various places. https://www.ibatcoin.com'.