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  • According to a new report Bitcoin, Ethereum and XRP are among the most purchased coins on the cryptocurrency exchange Coinbase.
  • In addition, the holding period for almost all cryptocurrencies is still increasing.

Coinbase is the largest cryptocurrency exchange in the United States of America and has more than 20 million active customers. The most bought coin is still Bitcoin, closely followed by other prominent Altcoins. A new report from the ICO news website cryptodiffer.com shows that the holding period has increased further compared to the last survey.

BTC, ETH and XRP on the top ranks

Coinbase provides various trading signals on its own platform, allowing users to prepare their decisions and analyse further metrics. These include the typical hold time of a cryptocurrency, the popularity of the cryptocurrency on Coinbase and the trading activity.

Cryptodiffer.com has analyzed these three metrics and found that the average hold time has continued to increase over the last 4 weeks. Bitcoin, Ethereum and XRP are among the most purchased cryptocurrencies on Coinbase. These statistics show that although the market capitalization has dropped from 210 billion USD to nearly 197 billion USD since the end of November until today, users of the platform hold cryptocurrencies longer.

Bitcoin is held on average 89 days before BTC is moved to another wallet or traded. Ethereum has a holding period of 105 days and Litecoin of 125 days. ZRX has the longest holding period with 142 days, followed by ETC with a holding period of 130 days.

https://telegra.ph/file/075a3578a5c2a54a37eca.png
Source: https://telegra.ph/file/075a3578a5c2a54a37eca.png

It is also striking that the holding period of Tezos has increased by 40% compared to the last survey. This is probably due to the Tezos-Staking implemented by Coinbase. Tezos holders receive a guaranteed annual staking profit of 5% each year for holding Tezos. The profits are distributed in proportion to the amount of assets held on the exchange.

Coinbase has also overtaken Polychain Labs as the largest validator in the Tezos network. However, this development comes as no surprise, as Coinbase had to buy more Tezos to be able to offer the staking service on a sufficient scale. Exchanges like Coinbase can only guarantee their users a profit if they keep XTZ in sufficient volume.

The Twitter user The Don pointed out already in early December that Coinbase has to buy more than one million XTZ in order not to lose staking rights and to be able to pay the users.

Adaptation of cryptocurrencies in the USA is increasing

Coinbase had published a report in early November showing that more than 27 million people in the United States own Bitcoin, representing 9% of the total population. Furthermore, the analysis service Google Trends shows that the interest in Bitcoin is growing more strongly, even displacing search queries such as “royal wedding” or “election results”.

A return analysis by Coinbase also shows that Bitcoin has achieved a higher return over the last 10 years than the world’s most important stock index, the S&P500. Bitcoin has achieved a return of 132%. In comparison: Nasdaq 100 +17%, the S&P 500 +12%, the FTSE Europe 100 +11% and the FTSE ASEAN 40 -3%.

Although these statistics show that Bitcoin has been able to achieve a positive development in various areas, Bitcoin shows a high volatility and a high investment risk. The price of Bitcoin has been trending sideways (+0.67%) over the last 24 hours and at the time of writing stands at USD 7,369.

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Marcel is the founder of Crypto News Flash and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628

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