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In addition to the good performance of mainstream assets such as BTC and ETH, in the first quarter, there were also a variety of conceptual assets in the digital currency market that also performed very eye-catching, such as NFT concepts, storage concepts, streaming media concepts, and social token concepts.
Original title: “The first quarter of the crypto market resumption: high-yield and high volatility coexist, with the highest growth rate of two types of assets exceeding 1000%”
Written by: Carol
In the first quarter of this year, the digital currency market continued its prosperity since the second half of last year. According to CoinMarketCap’s statistics, the total market value of digital currencies soared from US$0.77 trillion at the beginning of the quarter to US$1.96 trillion at the end of the quarter, an increase of 154.88%. In addition to the good performance of mainstream assets such as BTC and ETH, in the first quarter, there were also a variety of conceptual assets in the digital currency market that also performed very eye-catching, such as NFT concepts, storage concepts, streaming media concepts, and social token concepts.
In order to observe the current status and trends of the digital currency market more comprehensively, PAData will select 30 assets ranked 1-10 (top assets), 45-54 (waist assets), and 91-100 (long tail assets) in market capitalization. , And (estimated) the top 10 assets with the highest quarterly transaction volume (hot trading assets) and (estimated) the top 2 assets in each of the five concept sectors with the highest quarterly currency price increase (hot concept assets), after excluding duplicate assets Compose the “30+N” watch list.
After analyzing the market data of the “30+N” list assets in the first quarter, we found that:
1) In the first quarter, the digital currency market was in a continuous expansion trend, and the total market value of various assets increased significantly. The order of market value increase was in the order of popular concept assets> waist assets> long tail assets> head assets. The average market value increase of “30+N” assets is about 717%.
2) On the whole, the digital currency market in the first quarter was in a period of high yield and high volatility. The average currency price increase of “30+N” assets is about 617%, but the average daily amplitude is also as high as 15%. Both of these data are much higher than the average level of the TOP 30 assets in the fourth quarter of last year.
3) In the first quarter, the theoretical currency holding income range of “30+N” assets is about -14%-780%. Investors may have high profits and have a large profit margin. Among the subdivided assets, the average theoretical return range of popular concept assets is about 19%-1320%, which is the only category in which there is no possibility of negative returns. In addition, the average theoretical return range of waist assets is about -21%—1161%, which is the only asset class with the highest theoretical return exceeding 1000% except for popular concept assets.
4) In the first quarter, the main driving force for market prosperity came from waist assets and popular concept assets. The average currency price increase of the two types of assets was higher than 900%, and the currency price increase of all head assets was lower than the average value of this observation sample.
5) In the first quarter, ENJ, ONE, AR, CRV, IOST, HNT, STORJ, TFUEL, OKB, and OMG performed strongly. These assets may have newly entered the TOP 100 market capitalization this quarter, or their market capitalization rankings may rise by more than 30 places.
6) Among the popular concepts, streaming media, travel, storage, NFT, social tokens, DeFi derivatives, insurance, privacy coins, exchange platform coins, etc. are more popular. Among them, AUDIO, RLY, and MANA have higher theoretical gains.
The market value of various assets rose by 717%, and the market continued to expand
In the first quarter of this year, the market value of various assets showed a clear upward trend over time. In each category, head assets rose from US$863.7 billion to US$1,425.1 billion, an increase of approximately 64.99%. Among them, the market value of BTC rose from US$646.6 billion to US$1,021 billion, an increase of approximately 57.90%. At present, the market value of head assets accounts for about 82.76%, which is much higher than other asset classes. It can be seen that the current market is still an absolute dominant market for head assets.
But despite this, in the first quarter, the market value of waist assets, long-tail assets, and popular concept assets rose much higher than head assets, rising by 169.55%, 156.75%, and 384.15%, respectively. Among them, the market value increase of popular concept assets is mainly due to the rapid rise of FIL, BTT and MANA. In addition, the market value of popular trading assets rose by only 37.20%, which was lower than the increase in head assets.
When intercepting the beginning of the quarter (January 1) and the end of the quarter (March 29) and observing the degree of expansion of the market value of each asset, it can be seen that ONE is the asset with the highest overall market value increase within the scope of this observation. A rise of 5198%. Other assets with overall gains of more than 1000% include UNI, ENJ, TFUEL, STORJ, RLY and AUDIO.
In addition, it is important to pay attention to the fact that a variety of stablecoins continued to increase “printing money” in the first quarter, such as USDT, HUSD and PAX. The market value of these three stablecoins increased by 91.64%, 392.94% and 279.06%, respectively. As of March 29, the market value of USDT has reached 40.498 billion U.S. dollars, accounting for 2.24% of the total market value. The market values of HUSD and PAX have also exceeded 700 million U.S. dollars and 900 million U.S. dollars, respectively.
On the whole, in the first quarter, the average market value of “30+N” assets rose by about 717%. Among the subdivided asset classes, the average market value of popular concept assets rose the most, at about 1368%. The average market value of popular trading assets The lowest increase was about 96%. Among assets ranked by market value, waist assets have the highest increase in market value, about 972%, followed by long tail assets and head assets.
A current situation that deserves attention is that in the first quarter, in the watch list, except for the market value of EMT and WHALE, the market value of all other assets has risen, which has not appeared in previous observations. Although this may have a heterogeneous effect of poor sampling, it should still be seen that the overall expansion in the first quarter is very strong.
The price of the currency rose by 617%, and the average daily amplitude rose to 15%
In the first quarter of this year, the style of the digital currency market has changed. In the fourth quarter of last year, the TOP 30 digital currencies with market capitalization entered a unilateral upward channel. The average price increase of digital currencies other than stable currencies reached 51.84%, with an average daily amplitude of only 7.34%. But after entering this year, the market began to enter a period of high growth and high amplitude fluctuations.
According to statistics, in the first quarter, the average currency price of “30+N” assets increased by about 617.20%, of which the average currency price of popular concept assets increased the most, about 1019%. The second is waist assets, with an average currency price increase of about 913.26%. The lowest gains in average market value were hot trading assets and head assets, which were only 96.14% and 304.44%, respectively. The high trading volume of popular trading assets did not create a situation of “both volume and price rising”, which may indicate that the trading direction of the popular trading assets selected in this observation in the first quarter was mainly selling.
Judging from the currency price performance of a single asset, ONE soared 4591% in the first quarter, which is the asset with the highest increase in the observation range. In addition, the 7 assets of ENJ, TFUEL, AUDIO, RLY, MANA, BTT and EMT have increased by more than 1000%. The price increase of all digital currencies in the head assets in the first quarter was lower than the average value of this observation sample. Among them, the increase of BTC was about 96%, and the increase of ETH was about 149%.
Another feature of the shock period is that the currency price fluctuates greatly. According to statistics, in the first quarter, the daily average currency price amplitude of “30+N” assets was approximately 15.10%, which was much higher than the 7.34% daily average value achieved by the TOP 30 digital currencies in the fourth quarter of last year. Even if we only look at the top assets, the average daily amplitude in the first quarter was around 11.41%, which is still higher than the average daily amplitude of the TOP 30 digital currencies in the fourth quarter of last year.
In addition, only the daily average amplitude of the popular trading assets is slightly lower than that of the head asset, which is about 10.91%. The average daily amplitude of the other three assets is higher than that of the head asset. The hot concept assets had the highest average daily amplitude, reaching 22.38%, while the average daily amplitudes of waist assets and long-tail assets were 15.39% and 13.23%, respectively.
From the perspective of the daily average amplitude of a single asset, EMT has the highest average daily amplitude in this observation range, reaching 48.52%, and the average daily amplitude of WHALE is also very high, reaching 31.04%. In addition, the daily average amplitudes of ENJ, ONE and LOC have all exceeded 20%, and currency prices have fluctuated greatly. Conversely, in addition to stable currencies, LEO, BTC and ETH are the three assets with the lowest average daily amplitude, with only 3.24%, 8.47% and 10.23% respectively.
However, the high-yield, high-volatility shock market also provides investors with a broader income space. Based on the opening price at the beginning of the quarter (January 1), the range of the quarter’s lowest and highest price from the opening price is regarded as the quarterly theoretical currency holding income range. According to statistics, in the first quarter, the average theoretical currency holding income range of “30+N” assets was between -14% and 780%.
Among the subdivided assets, the average theoretical currency holding range of the popular concept asset assets is 19%-1320%, which is the only category of all asset classes that does not have the possibility of negative returns, and the average theoretical maximum return is the highest. The income range of waist assets is also relatively large. The average theoretical currency holding income range is -21%-1161%. It is the only asset class with the highest theoretical return exceeding 1000% except for popular concept assets. The theoretical return range of head assets, long-tail assets, and popular trading assets is even lower, being -10%—382%, -10%—550%, and -2%—155%, respectively.
Introduction to new assets in the first quarter
Among the assets with better performance in the first quarter, there are 6 new assets with low market volume that deserve attention, namely AR, STORJ, HNT, TFUEL, AUDIO, and RLY. Some of these assets have common tags, such as Web 3.0, storage, streaming media, etc.
Arweave is a decentralized storage network designed to store data permanently. Arweave provides a set of permanent storage solution Permaweb, which can directly write content into blocks for storage. The Arweave network uses Proof of Access (POA) to incentivize miners to store history forever and share them as required. While miners receive new block rewards, they will also be rewarded for storing random old blocks in the chain. The native token AR is used to pay miners’ fees.
Storj is a distributed cloud storage protocol based on Ethereum. Its core is that its users and communities act as nodes. Users manage data through private keys and provide data storage and bandwidth for the platform. STORJ tokens are used in exchange for storage space. Storj uses file fragmentation to break up stored data and protects it through P2P encryption on both sides. It aims to solve the main problems of traditional cloud servers, such as the risk of data loss caused by hacker attacks or the power failure of centralized systems.
Helium is an open wireless network designed to provide low power consumption and wide coverage wireless network access for IoT devices. Helium motivates hotspot miners to purchase Hotspot equipment (hotspot miners in the Helium network) through token incentives, and deploys Hotspot to provide wireless network access to nearby IoT devices. Helium adopts the PoC (Proof of Coverage, coverage proof) consensus mechanism. Each Hotspot is a complete blockchain node, and the verification of the effective network coverage is completed through the interaction (question and proof) with the PoC team. The token HNT aims to incentivize hotspot miners to deploy and maintain wireless network coverage, and encourage enterprises and developers to generate data points by destroying HNT tokens to pay data transmission fees to hotspot miners.
Theta Fuel (TFUEL)
Theta Network is a decentralized streaming media platform that uses a multi-layer BFT consensus mechanism. Users can share bandwidth and computing resources on a point-to-point basis. Theta aims to reduce the cost of video streaming while providing users with high-quality and smooth video streaming. At the same time, users who have contributed excess bandwidth and computing resources can receive TFUEL token rewards. In the upcoming 3.0 version, users can also pledge TFUEL to edge nodes and upgrade them to Elite Edge nodes to obtain additional TFUEL from the video platform. Currently, Theta Network has 34,592 edge nodes.
Audius is a decentralized music streaming media platform. Its goal is to promote direct transactions between listeners and creators, and eliminate the influence of streaming media platforms and record companies (streaming media platforms and record companies are often where music creators enter the market. One of the obstacles), allowing creators to host their music works on the Audius blockchain for free, so that everyone can freely distribute their works. Audius established a dual token model of AUDIO and Loud. Music service providers can use AUDIO for mortgage to recommend music content to listeners, arbitrate music content declarations, file content declarations, and vote on governance proposals. Listeners can use Loud tokens to pay for music content, which supports 1:1 anchoring with many stable currencies on the market. Currently, Audius has 4 million monthly active users. This year, Audius plans to migrate the content management system CMS from the current POA network to the Solana blockchain.
Rally is a platform for issuing social tokens. It is aimed at influential people of all backgrounds, streamers, musicians, artists, brands and content creators, and helps creators launch social tokens (Creator Coin) to directly reach fans , And get profit. Fans can buy social tokens to support their favorite creators and get special benefits determined by the creators. RLY is Rally’s native token. Based on this business model, developers can drive business development based on their own custom social tokens and share the economy with fans.