Pair Trades: Selling Bitcoin and Buying Altcoins is Driving the Cryptocurrency Ecosystem

Pair Trades: Selling Bitcoin and Buying Altcoins is Driving the Cryptocurrency Ecosystem



Bitcoin Purchases of Altcoins
Value and Volume Stay in the System

December 11, 2017
Byron Berry, CFA
(647) 302-8276
Abhishek Jain

Ethereum and Litecoin have significant trading volumes with Bitcoin, according to an analysis we did of recent trading activity in the crypto universe.  This shows that value is being kept in cryptocurrency, rather than being immediately sold for fiat currency.

We took the last 24 hour trading volumes on the top 10 exchanges for each cryptocurrency and analyzed the pairs (e.g. BTC/USD, ETH/BTC etc.).

This data shows that purchases of Ethereum and Litecoin are frequently in crypto.  This is dominated by Bitcoin, but in each case Tether (USDT) was also used.  A quick review of other altcoins listed shows a similar dynamic.  We may do a deeper dive at a later date on this.

We believe that this indicates the market is stabilizing in that a significant amount of money is being circulated within the ecosystem.  We see this as a healthy trend, more indicative of maturity than mania.

DISCLAIMER: AIRDROP is presented as an educational resource and should not be construed as individualized investment advice, nor as a recommendation to buy or sell specific cryptocurrencies or related commodities or securities. Coreventus Inc. and/or its employees may own cryptocurrencies, some of which may be mentioned in AIRDROP.


Copyright © 2017 Coreventus Inc., All rights reserved

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By | 2017-12-31T18:36:49+00:00 December 22nd, 2017|Uncategorized|0 Comments

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