As I hinted in Crypto-Asset Market Capitalization, I’m going to be producing a weekly infographic each Friday based asset values listed on CoinMarketCap. Once I get a better grip on what is happening we’ll delve into the particulars of the six platforms in use by the fifty nine markets. This was produced used Tableau and the CryptoAssets-2016-06-10 workbook is available for you to download.
Here are those six platforms, in order by decreasing market capitalization with their own tag lines.
Ethereum – Blockchain application platform
OmniLayer – Open-source, fully-decentralized asset platform on the Bitcoin blockchain
Counterparty – Platform for free and open financial tools on the Bitcoin network
Nxt – Advanced blockchain platform
BitShares – Your share in the Decentralized Exchange
NuBits – The World’s Best Stable Digital Currencies
Four of the fifty nine crypto-assets do not use any of the six blockchain based platforms employed by the others and there is no information available on their value. Given that there are six solutions that provide the foundation for fifty five assets, that is more than enough diversity to cover whatever those fringe players were attempting. Life is short; we’re going to ignore them unless they do something press worthy.
Thanks to the explosion of interest in TheDAO, Ethereum’s 76% of the total crypto-assets market capitalization equals Bitcoin’s dominance in the overall cryptocurrency market. The two Bitcoin based systems command 17%, leaving just 1.9% of the notional value to Nxt based systems.
But here’s another view that matters:
Nxt has the smallest overall market capitalization visible in our pie chart, but twenty eight of the fifty five assets we’re watching are based on it. Knowing nothing beyond what can be discerned from these charts, it’s a reasonable guess that Nxt is a rich development environment, and we may see some of those assets jump to the newly energized Ethereum bandwagon.
BitShares, with eight assets but only about $1m in market capitalization, appears to be a set of proxies for fiat currencies and the larger cryptocurrencies. NuBits stands alone.
One of the untraceable offerings, TRMB, is a Chinese effort responsible for 39% of today’s liquidity. Ignoring this non-blockchain crypto-asset, the two that are Ethereum based move at a volume four times greater than the the rest of the assets combined. I’m not here to egg on day traders, but liquidity does matter a bit, so I need to do something to recognize it. That’ll be a programming change between now and next Friday’s report.
So there you have it, the adventure has begun. If there is a specific question you want answered or a specific visualization you’d like to see, contact me on LinkedIn and I’ll try to accommodate you.