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Blockchain & Alert Signal Report

June 2019 Cryptocurrency Blockchain & Alert Signal Report

June 2019 Blockchain & Alert Signal Analysis

By | Blockchain & Alert Signal Report, Coinscious Lab, Data Analytics | No Comments

Overview

Released monthly, this report consists of the following two sections: 

  1. Blockchain transaction statistics and simple correlation analysis to Bitcoin (BTC)  price, and 
  2. Summary of alert system statistics from June 1, 2019 to June 30, 2019. 

Our blockchain transaction statistics are based on Coinscious’ blockchain data for BTC, Ethererum (ETH), and Tether (USDT). For our analysis, we filter out all transactions that are less than $100,000 USD, 25 BTC, and 750 ETH. Next, we compare the flow of transaction volumes in and out, as well as the transaction amounts throughout the month. We also visualize the net transaction trend using BTC daily price.

In our alert system summary, we look at signals produced by Coinscious’ alert system such as:

  • price pump and dump signals,
  • volume spike and drop signals, and 
  • relative strength indicator (RSI) signals at daily ticks. 

Here, we provide investigate statistics on BTC, ETH, and XRP for USD, CAD, and USDT currencies for different cryptocurrency exchanges. The summary statistics illustrates how often extreme events occur for each market. 

Blockchain Transaction

Figure 1. Price versus net transaction correlation for large-value outstanding transactions between June 1 to June 30, 2019.

Cryptocurrency Blockchain Transaction - Price versus net transaction correlation BTC, ETH, USDT

Figure 1 illustrates BTC price and blockchain transactions going in and out of cryptocurrency exchanges for BTC, ETH, and USDT.  

The first row in Figure 1 demonstrates that BTC price has steadily increased in June. The net USDT transactions into cryptocurrency exchanges are positive throughout June. Interestingly, we see a positive correlation between BTC price and ETH net transactions – the price of BTC rises when ETH net transaction is positive, and the price of BTC falls when ETH net transaction is negative. 

The third row in Figure 1 illustrates that USDT had the most active transactions in June, followed by BTC and ETH. However, even though ETH had the smallest number of transactions, its transaction size is the greatest, followed by BTC and USDT as shown in the second row of Figure 1. 

Alert Signal Analysis

a) Bitstamp { BTC, ETH, XRP } / USD

Figure 2. Price pump and dump signals, volume spike signals, and RSI (14) signals at Bitstamp for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Bitstamp for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

BTC/USD trading pair at Bitstamp had a total of 53 price pump signals and 48 price dump signals.  The average price change was -0.20% within 15 minutes, and the maximum and minimum price changes were 3.76% and -4.04%, respectively. 

ETH/USD trading pair had a total of 40 price pump signals and 47 price dump signals. The average price change was -0.08%, and the maximum and minimum price changes were 1.80% and -3.45%, respectively. 

XRP/USD trading pair had a total of 51 price pump signals and 52 price dump signals. The average price change was -0.20%, and the maximum and minimum price changes were 3.24% and -5.92%. In comparison, the average and maximum price changes for XRP/USD were similar to BTC/USD. However, the largest price dump was 2.00% lower.  

In the second and third column of Figure 2, we can see that both BTC and ETH had higher volume spikes than XRP. RSI (14) on daily tick had several oversold signals (at 30), but did not trigger any overbought signals (at 70).

b) Kraken { BTC, ETH, XRP } / CAD

Figure 3. Price pump and dump signals, volume spike signals, and RSI (14) signals at Kraken for BTC/CAD, ETH/CAD and XRP/CAD between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Kraken for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

BTC/CAD trading pair at Kraken had a total of 19 price pump signals and 40 price dump signals.  The average price change was -0.13% within 15 minutes, and the maximum and minimum price changes were 5.58% and -9.54%, respectively. 

ETH/CAD trading pairhad a total of 22 price pump signals and 46 price dump signals. The average price change was 0.15%, and the maximum and minimum price changes were 5.08% and -5.00%, respectively. 

XRP/CAD trading pair had a total of 21 price pump signals and 47 price dump signals. The average price change was close to zero percent (-0.03%), whereas the maximum and minimum price changes were 4.28% and -8.06%, respectively.  

Overall, BTC/CAD, ETH/CAD, and XRP/CAD trading pairs at Kraken had were more extreme minimum and maximum price changes than respective USD trading pairs at Bitstamp. 

c) Binance { BTC, ETH, XRP } / USDT

Figure 4. Price pump and dump signals, volume spike signals, and RSI (14) signals at Binance for BTC/USDT, ETH/USDT and XRP/USDT between June 1 to June 30, 2019.

Blockchain - Price pump and dump signals, volume spike signals, and RSI (14) signals at Binance for BTC/USD, ETH/USD and XRP/USD between June 1 to June 30, 2019.

APPENDIX A: Figures

a) BTC/USD price pump and dump at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD price pump and dump at Bitstamp between June 1 to 30, 2019.

b) BTC/USD volume spike & drop at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD volume spike and drop at Bitstamp between June 1 to 30, 2019.

c) BTC/USD RSI(14) signal at Bitstamp between June 1 to 30, 2019.

Blockchain - BTC/USD RSI(14) signal at Bitstamp between June 1 to 30, 2019.

APPENDIX B: Methodology

  • Price pump and dump calculations: calculated based on if the price goes above or below the upper and lower Bollinger bands and the price surpasses the rolling highest value over 6 hours.
  • Volume spike and drop calculations: calculated based on if the volume goes above or below exponential moving average of volume over 10 days.
  • RSI overbought and oversold calculations: calculated based RSI(14) indicator, and used 30 and 70 values for overbought and oversold threshold.

APPENDIX C: Alert System Statistics

Summary of alert system statistics between June 1 to 30, 2019.

BITSTAMP BTC/USD ETH/USD XRP/USD
# Price Pump Signal 53 40 51
# Price Dump Signal 48 47 52
Avg. Price Change  (15min)  -0.20 -0.08 -0.20
Max. Price Change (15min) 3.76 1.80 3.24
Min. Price Change  (15min) -4.04 -3.45 -5.92

 

KRAKEN BTC/CAD ETH/CAD XRP/CAD
# Price Pump Signal 19 22 21
# Price Dump Signal 40 46 47
Avg. Price Change  (15min)  -0.13 0.15 -0.025
Max. Price Change (15min) 5.58 5.08 4.28
Min. Price Change  (15min) -9.54 -5.0 -8.06

 

BINANCE BTC/USDT ETH/USDT XRP/USDT
# Price Pump Signal 56 38 56
# Price Dump Signal 45 44 45
Avg. Price Change  (15min)  -0.24 -0.12 -0.20
Max. Price Change (15min) 2.77 1.85 3.18
Min. Price Change  (15min) -4.87 -3.46 -6.29

Disclaimer

The information contained herein is for informational purposes only and is not intended as a research report or investment advice. It should not be construed as Coinscious recommending investment in cryptocurrencies or other products or services, or as a solicitation to buy or sell any security or engage in a particular investment strategy. Investment in the crypto market entails substantial risk. Before acting on any information, you should consider whether it is suitable for your particular circumstances and consult all available material, and, if necessary, seek professional advice.

Coinscious and its partners, directors, shareholders and employees may have a position in entities referred to herein or may make purchases and/or sales from time to time, or they may act, or may have acted in the past, as an advisor to certain companies mentioned herein and may receive, or may have received, a remuneration for their services from those companies.

Neither Coinscious or its partners, directors, shareholders or employees shall be liable for any damage, expense or other loss that you may incur out of reliance on any information contained in this report. Chainlink

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