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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)

  • Alex Morris
    📊‍ Infographics

    Bitcoin outperforms all other PoW-based coins combined when it comes to total mining revenue

Top Cryptocurrencies by Mining Revenue in 2019: Bitcoin (BTC), Ethereum (ETH), Zcash (ZEC), Litecoin (LTC), and Bitcoin Cash (BCH)
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In its most recent issue, crypto-oriented research startup Diar reveals that the total mining revenue across popular proof-of-work (PoW) Blockchains has exceeded more than $21.3 bln. Bitcoin (BTC) is expectedly accountable for the lion’s share of this sum ($11.3 bln).

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Crypto mining beyond Bitcoin

Ethereum (ETH) comes in second place with $5.8 bln. There is a huge gap between second and third places — Zcash (ZEC) is only responsible for $1.2 bln of the mining profits. However, it is worth noting that the 20th biggest currency by market capitalization outperforms much bigger coins in that department, such as Litecoin (LTC) and Bitcoin Cash (BCH), with miners earning $1.1 bln and $911.6 mln respectively. Monero (XMR), the darling of cryptojackers, also made the cut with $365 mln.

$335 mln for solving empty blocks

Another notable finding is that miners who worked on а major network have earned a whopping $335 for solving empty blocks. Here, Litecoin is in the lead after rewarding miners with $125 mln. However, the number of empty blocks has dramatically decreased in 2019, which is a positive sign for these major networks.

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Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo

  • Alex Morris
    📊‍ Infographics

    💪💥There is a divergence between new addresses and the BTC price, but it doesn’t mean that another bull run is coming anytime soon

Number of Active Bitcoin Addresses Continues to Grow While BTC Price Remains in Limbo
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There has been a common belief that the number of active Bitcoin addresses and the asset’s price are somehow correlated. However, it turned out not to be the case after the latter continued to stagnate despite the Bitcoin user base growing significantly over the last eight weeks.

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Little impact on price

While the number of Bitcoin addresses increased by 17 percent since Jan. 20 till March 17, the Bitcoin price only experienced minuscule growth of 1 percent over the same period of time. The fact that there is a divergence between the number of addresses and the Bitcoin price doesn’t necessarily mean that another bull run is in the offing. In fact, there was steady growth in active addresses during the prolonging bear market (since 2014 till 2016), and it didn’t impact the price.

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The TAAR metric  

Transaction volume is a more reliable metric when it comes to determining the tops and bottoms of the Bitcoin market. However, in order to get the most precise correlation, one has to factor both average trading volumes and the number of active users (the TAAR metric). The TAAR tends to be a fairly accurate indicator of an upcoming bullish/bearish trend. 

The TAAR metric  

 

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