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Holo, NANO, NEO Had Huge Week on Telegram. See How It Reflected in Their Trading Volumes

  • Alex Morris
    📊‍ Infographics

    Holo experienced a week of turbulent activity on Telegram, which contributed to a 226 perecent spike in its weekly trading volume


Holo, NANO, NEO Had Huge Week on Telegram. See How It Reflected in Their Trading Volumes
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From Jan. 22 till Jan. 29, Telegram users showed plenty of love to Holo (HOT), NANO (NANO), and NEO (NEO), according to a new DataLight study. Subsequently, it was reflected in their trading volumes, which also experienced substantial gains. However, NEO appears to be a black sheep on this list.     

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Scoring well on both fronts

Holo, the 34th biggest currency, leads the pack when it comes to Telegram mentions with a staggering 191 percent increase over the above-mentioned seven-day period. The coin’s trading volume spiked even more — 226 percent. Tron (TRX) followed the same pattern, but the gap between the gains in Telegram mentions and the seven-day volume change turned out to be much bigger — 18 percent and 54 percent. WAVES (WAVES) also saw its trading volume spike by 38 percent.


NEO fails to gain momentum    

XRP (XRP) and Ethereum (ETH), which occupy second and third places, are the only entries on the list with a decrease in Telegram mentions. Notably, NEO, despite being the third biggest currency by last week’s Telegram activity, is witnessing a completely opposite situation with its trading volume declining by 8 percent. Meanwhile, the trading activity of Vechain (VET) dwindled by 35 percent (the worst performing coin on the list) with a minor 2 percent increase in Telegram activity.

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Institutional Interest in Bitcoin Continues to Grow: Report

  • Alex Morris
    📊‍ Infographics

    Institutional Bitcoin trading volumes have been on the rise since the beginning of April, but there is only one winner in this game
     


Institutional Interest in Bitcoin Continues to Grow: Report
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According to a new study published by Blockchain research firm Diar, institutional Bitcoin trading volumes are growing for the fourth consecutive month. The fact that the number of CME futures contracts skyrocketed since the beginning of April is the icing on the cake.

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CME’s dominance

 As reported by U.Today, CME Bitcoin futures saw their daily trading volume increase by a whopping 950 percent with 22,542 contracts on Apr. 4. In fact, the sudden rise in Bitcoin price was linked to the expiration of CME futures.  

So far, that level of interest remained steady with 11,873 contracts traded on Apr. 11.


Institutional Interest in Bitcoin Continues to Grow: Report

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The only winner

With CBOE pulling the plug on Bitcoin futures due to its inability to compete with its Chicago-based rival CME, there is a clear winner in this race. While Diar calls CBOE ‘the biggest loser’, Grayscale's Bitcoin Investment Trust (GBTC) is not exactly on the winning side, either. It now accounts for 24 percent of the market, lagging behind CME (a far cry from its 50 percent market share back in January 2018).

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New heights

The dominance of institutional products has been steadily rising since January. As of April, institutional money is responsible for 19 percent of the total Bitcoin trading volume (almost 8 percent more than during the market peak in January 2018). However, it has yet to match its 24 percent market share that was recorded in July.

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