I have been playing around with SE Tribes data, ranking them in different ways. I have made a rank by activities and volume as well. I even try to make a proper marketcap for the SE tokens.
Making the analysis above and ranking tribes by volume and marketcap had its specifics as you need to exclude some obvious irregularities.
Some says that the ranking by volume is by far more important that the ranking by marketcap!
Is trading volume the most important metric of a coin/token?
One of the killer features of BTC is the liquidity. The high trading volume that it has and the ability to exchange high volumes. A lot of exchanges are faking volumes just to show them self as more liquid and attract investors. Fake volume is hot topic in the crypto world. Bots are responsible for most of the trading.
Top Cryptos by Trading Volume According to Coinmarketcap
Coinmarketcap has a ranking for cryptocurrencies according to their monthly volume.
Here is the link:
https://coinmarketcap.com/currencies/volume/monthly/
The top 20 list at the moment of writing this post January 11th 2020, looks like this:
| Rank | Symbol | Monthly Volume [$] |
|---|---|---|
| 1 | Tether | 776,611,129 |
| 2 | Bitcoin | 664,849,000 |
| 3 | Ethereum | 250,895,764 |
| 4 | Litecoin | 90,265,481 |
| 5 | EOS | 54,557,176 |
| 6 | Bitcoin Cash | 52,716,801 |
| 7 | XRP | 40,821,340 |
| 8 | TRON | 32,332,674 |
| 9 | Ethereum Classic | 22,938,376 |
| 10 | OFCOIN | 22,449,162 |
| 11 | Bitcoin SV | 17,110,022 |
| 12 | Neo | 11,665,302 |
| 13 | Paxos Standard | 9,464,899 |
| 14 | USD Coin | 8,912,207 |
| 15 | Qtum | 8,550,932 |
| 16 | Dash | 8,237,031 |
| 17 | QCash | 8,130,574 |
| 18 | TrueUSD | 7,246,394 |
| 19 | XMax | 6,313,523 |
| 20 | Stellar | 5,423,223 |
Not a lot of surprise in the top 3. Tether, BTC and ETH. All of them are basically used as primary crypto pairs on exchanges. All the other coins trade against them.
Where is STEEM?
Interesting when I tried to find STEEM on the list above, and not just in the top 20, but even lower, STEEM was not there at all. Hmm.
But coinmarketcap has data on each individual coin for each day, for prices and volume. I went there and extracted STEEM volume.
https://coinmarketcap.com/currencies/steem/historical-data/
Here is the data:
| Date | Volume |
|---|---|
| 11.12.2019 | 1,126,626 |
| 12.12.2019 | 2,394,982 |
| 13.12.2019 | 1,157,098 |
| 14.12.2019 | 867,514 |
| 15.12.2019 | 1,166,416 |
| 16.12.2019 | 5,505,046 |
| 17.12.2019 | 23,344,008 |
| 18.12.2019 | 1,147,098 |
| 19.12.2019 | 1,468,241 |
| 20.12.2019 | 1,521,679 |
| 21.12.2019 | 1,059,899 |
| 22.12.2019 | 1,346,472 |
| 23.12.2019 | 770,938 |
| 24.12.2019 | 513,991 |
| 25.12.2019 | 486,588 |
| 26.12.2019 | 399,771 |
| 27.12.2019 | 632,738 |
| 28.12.2019 | 307,873 |
| 29.12.2019 | 504,386 |
| 30.12.2019 | 340,845 |
| 31.12.2019 | 226,922 |
| 01.1.2020 | 220,505 |
| 02.1.2020 | 223,799 |
| 03.1.2020 | 261,364 |
| 04.1.2020 | 281,869 |
| 05.1.2020 | 274,681 |
| 06.1.2020 | 401,273 |
| 07.1.2020 | 439,965 |
| 08.1.2020 | 770,957 |
| 09.1.2020 | 302,431 |
| 10.1.2020 | 293,176 |
| Total | 49,759,151 |
A total of 49 M $ for a month? This will put STEEM on no.7 most traded coin on the list above.
But the data above is a bit weird for me. Especially on 16th and 17th December. There is a 23 M volume on December 17th. This just can’t not be accurate. There is around 100M STEEM on exchanges, worth around 13M $ at the moment.
Usually STEEM has somewhere around 200k to 300k daily volume and on a good day it goes more than 1M.
I took the liberty and corrected these two days to around 1M $ per day and the monthly trading volume for STEEM comes around 22M $. With this trading volume STEEM comes around the 10th place by monthly trading volume.
In my personal opinion this is still a high volume for STEEM. I’m really not sure in the data presented by CMC, but that is what they say. I would estimate STEEM monthly trading volume around 15M $ (±5M). This would still put STEEM high on the ranking, according to the table above, around the 12th place.
If we make a chart with this data, it will look like this.
I’m not sure what to think of this and my feeling is that something is wrong with the CMC ranking by monthly volume. Maybe they are excluding some exchanges from their data?
If someone has a better data for long term volumes, please make a comment.
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