[Xangle Briefing] Ethereum on-chain volume increases 70% spike even in the fear of the coronavirus

Jan 28, 2020

[Xangle Briefing] Ethereum on-chain volume increases 70% spike even in the fear of the coronavirus

- Ethereum and Litecoin’s number of vitalization index rose overnight.

Ethereum and Litecoin’s number of vitalization index rose overnight, while global traditional financial market has miserable time after the spread of dangerous coronavirus from China. Eighteen of the top twenty coins in the crypto market including Bitcoin are rising, as the price of gold, the representative of safe assets, hit a three-week high.

According to crypto disclosure platform Xangle, the number of on-chain trading volume of Ethereum in the past 24 hours amounted approx. $188,748,499, which is 69.02% more than a day before. In the same period, new address wallets and transactions over $1,000,000 have increased respectively 60.47% and 400%.

In the case of Litecoin, on-chain volume and transactions over $1,000,000 in the past 24 hours are $120,792,239 and 14 cases, with 76.28% and 600% increasing respectively.

Bitcoin and other top market cap coins are sensitive these days to various geopolitical factors due to the well-known U.S-Iran tensions. Eighteen of the top twenty coins in the crypto market today are rising.

Gold prices on the New York Stock Exchange rose 0.64% to $ 1581.90, as safe-haven demand for gold was featured as the coronavirus outbreak spread significantly. However, The S&P 500 closed down 1.6 percent on Monday-its sharpest decline since Oct. 2.

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