Whaleshares Logo

Some Statistics on BitShares bitUSD

cryptick1Posted for Everyone to comment on, 4 years ago4 min read

Screen Shot 2019-10-01 at 12.32.38 PM.png
Let's take a look at some basic statistics on the BitShares BitUSD smart coin. In order to better understand this coin, we need to start with some basic statistics.

This coin is traded on the BitShares blockchain. So all data is all open and transparent.
Because blockchain projects are typically open for inspection, anyone can gain better insight with the right tools.

This continues a series I have done on looking into some of the BitShares coins.

There are 9,094 accounts that have a balance of this coin.
All of these accounts have a total value of 2,653,457.89 coins.
If you take the total number of coins 2,653,457.89 and divide it by the total number of accounts 9,094, you get $291 average coins per account.
The coin USD was valued at $1 recently. This is a smart coin which is set to peg the USD.
BitUSD or USD had a global settlement earlier in the year which adversely effected the popularity of the coin. CNY is now the more popular smart coin on the BitShares platform. There has been a lot going on behind the scenes in the BitShares community about smart coins, collateral and the backing of such coins.

So if we have 2,653,458 coins valued at $1 each, that means the total market cap is $2,653,458.

Sample Data Points
To get a better feeling about the data, let’s just take a few pieces of the data.

The account "proxy-to-self" has a balance of 0.0001.
The account nikolai has a balance of 0.8694.
The account "xor" has a balance of 2.0996.
The account n3bula has a balance of 0.1007.

Coins are not distributed evenly.
Here are the largest coin holders
The account bts-marie has a balance has $218,428.
The account bitspark-vault has a balance has $179,262.
The account bitshares.foundation has a balance has $176,555.
The account nico.chrome has a balance has $127,641.
Removing the top 4 accounts, the rest of the accounts have a balance of 1,951,569 coins or $1,951,569.
Excluding these top four accounts, that would give us an average balance of $214 per account.

The most common account balance is 0.0001 and 673 accounts have this exact balance. This is dust a small round error that is left over from transactions in the past.

Percentile Groupings
We can get a better understanding by look at distributions and USD equivalent values of this coins in various groups.
The richest (one percent) 91 accounts have and average balance of $24,781.02 each.
The rest of these groups each represent about 10% of the holders in each group.
There are 818 accounts with an average balance of $445.81 each.
There are 909 accounts with an average balance of $30.95 each.
There are 909 accounts with an average balance of $6.33 each.

Each day about 5,000 people trade on the BitShares platform. Here we see about 3,000 accounts have a balance of BitUSD that could get you one fancy cup of coffee. This correlates and confirms the number of people on the platform. I believe BitShares is an under marketed gem in the crypto space. BTS price is depressed with recently governance issues and the defunding of workers, but this could provide a great buying opportunity.

Quality
Using Cryptick's Algorithm B, this market rates better than 86% of recent markets looked at.
For Algorithm B, a higher number is better.
Cryptick's Algorithm B uses a unique advanced sophisticated proprietary algorithm to quickly and concisely look inside BlockChain projects.

Details...
All of the numbers here are estimates. They are based on recent numbers. By recent, I mean numbers within the last few months.
We all know crypto markets change fast, so you may need to do your own research.
Take all these numbers with a grain of salt. It can be very easy to get numbers like these wrong.
If something looks out of place in these numbers, investigate it, it probably is.
This report is provided to help bring some insight into crypto, and to help people understand the markets.
Doing Your Own Research is Very Important in Crypto.
About BitShares...
BitShares is a Decentralized Exchange where you own the keys to your own coins.
BitShares allows anyone to create custom coins for any project.
BitShares is a unique blockchain project where you own the keys to your own wallet.
Do you have a great Crypto Idea, BitShares allows anyone to create and distribute a coin, among those interested in the project!

Helpful Links...
Run a Free Market Making Bot https://www.dexbot.info/
See this market
https://wallet.bitshares.org/#/market/USD_BTS
https://wallet.bitshares.org/#/market/USD_CNY
https://crypto-bridge.org/
https://openledger.io/
BlockChain Explorers for More Research
https://bitsharescan.com/
http://open-explorer.io/#/dashboard
http://www.bitshares-scaner.org/
http://cryptofresh.com/assets
https://wallet.bitshares.org/#/explorer/blocks

Sign Up to join this conversation, or to start a topic of your own.
Your opinion is celebrated and welcomed, not banned or censored!