{"id":27179,"date":"2020-08-12T17:31:01","date_gmt":"2020-08-12T14:31:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27179"},"modified":"2025-08-26T19:14:05","modified_gmt":"2025-08-26T16:14:05","slug":"arcane-research-notes-shift-in-investor-interest-from-bitcoin-to-altcoins","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/arcane-research-notes-shift-in-investor-interest-from-bitcoin-to-altcoins\/","title":{"rendered":"Arcane Research notes shift in investor interest from Bitcoin to altcoins"},"content":{"rendered":"<p>The repeated unsuccessful test of the $12,000 level by Bitcoin was accompanied by a contraction in trading volumes. Against this backdrop, some altcoins continued their rally, according to Arcane Research.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Did you find this thread interesting? Make sure to sign up for our Weekly Market Update for more content. <a href=\"https:\/\/t.co\/cC7ZnqnDOr\">https:\/\/t.co\/cC7ZnqnDOr<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\"https:\/\/twitter.com\/ArcaneResearch\/status\/1293221946419814400?ref_src=twsrc%5Etfw\">August 11, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Among them <a href=\"https:\/\/u1f987.com\/en\/news\/chainlink-hits-all-time-high-surpassing-cardano-and-bitcoin-sv-in-market-capitalization\">stood out<\/a> Chainlink, which on Sunday became the most traded asset on Coinbase. LINK trading volume surpassed BTC\u2019s by nearly 70%.<\/p>\n<p>Researchers noted that with the start of the new week this anomaly disappeared. Trading volumes for Bitcoin have since returned to levels seen at the end of June 2020.<\/p>\n<div id=\"attachment_107206\" style=\"width: 1396px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107206\" class=\"wp-image-107206 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image3-101.png\" width=\"1386\" height=\"536\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image3-101.png 1386w, https:\/\/u1f987.com\/wp-content\/uploads\/image3-101-300x116.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image3-101-1024x396.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/image3-101-768x297.png 768w\" sizes=\"auto, (max-width: 1386px) 100vw, 1386px\" \/><\/p>\n<p id=\"caption-attachment-107206\" class=\"wp-caption-text\">Bitcoin trading volume smoothed by a moving average. Source: Messari, skew<\/p>\n<\/div>\n<p>On August 12, LINK continued its rise and once again <a href=\"https:\/\/t.me\/forklog\/14461\" target=\"_blank\" rel=\"noopener noreferrer\">updated its high<\/a>.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?11\" data-telegram-post=\"forklog\/14461\" data-width=\"100%\"><\/script><\/p>\n<p>Evidence of growing investor interest in altcoins is also the <a href=\"https:\/\/coinmarketcap.com\/charts\/#dominance-percentage\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin dominance index<\/a>.<\/p>\n<div id=\"attachment_107216\" style=\"width: 1164px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107216\" class=\"size-full wp-image-107216\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dominance-7.png\" alt=\"Arcane Research notes a shift in interest from Bitcoin to altcoins\" width=\"1164\" height=\"675\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Dominance-7.png 1164w, https:\/\/u1f987.com\/wp-content\/uploads\/Dominance-7-300x174.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Dominance-7-1024x594.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Dominance-7-768x445.png 768w\" sizes=\"auto, (max-width: 1164px) 100vw, 1164px\" \/><\/div>\n<p>Bitcoin futures trading volume and open interest share smoothed by a moving average. Source: Skew<\/p>\n<div id=\"attachment_107204\" style=\"width: 476px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107204\" class=\"size-full wp-image-107204\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-251.png\" alt=\"Bitcoin futures open interest share changed\" width=\"466\" height=\"266\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-251.png 466w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-251-300x171.png 300w\" sizes=\"auto, (max-width: 466px) 100vw, 466px\" \/><\/p>\n<p id=\"caption-attachment-107204\" class=\"wp-caption-text\">Change in market share in open interest for Bitcoin futures. Source: Skew<\/p>\n<\/div>\n<h2>P2P Platforms<\/h2>\n<p>Trading on peer-to-peer platforms has stabilized above $100 million since June. Historically this threshold had been reached at the market&#8217;s record peak in December 2017, as well as at a multi-month high in July 2019.<\/p>\n<p>Arcane Research found that to date the role of the so-called <a href=\"https:\/\/www.investopedia.com\/terms\/f\/frontier-market.asp\" target=\"_blank\" rel=\"noopener noreferrer\">\u201cfrontier markets\u201d<\/a>, which are less developed than emerging markets, has grown in this segment. Experts linked this to the rising popularity of BTC remittances.<\/p>\n<div id=\"attachment_107207\" style=\"width: 504px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107207\" class=\"size-full wp-image-107207\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image4-66.png\" alt=\"Structure of weekly trading volumes on peer-to-peer platforms by market category\" width=\"494\" height=\"117\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image4-66.png 494w, https:\/\/u1f987.com\/wp-content\/uploads\/image4-66-300x71.png 300w\" sizes=\"auto, (max-width: 494px) 100vw, 494px\" \/><\/p>\n<p id=\"caption-attachment-107207\" class=\"wp-caption-text\">Structure of weekly trading volumes on peer-to-peer platforms by market category. Source: Digital Assets Data<\/p>\n<\/div>\n<div id=\"attachment_107205\" style=\"width: 909px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107205\" class=\"wp-image-107205 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-162.png\" alt=\"Weekly trading volume dynamics on peer-to-peer platforms\" width=\"899\" height=\"589\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-162.png 899w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-162-300x197.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-162-768x503.png 768w\" sizes=\"auto, (max-width: 899px) 100vw, 899px\" \/><\/p>\n<p id=\"caption-attachment-107205\" class=\"wp-caption-text\">Weekly trading volume dynamics on peer-to-peer platforms. Source: Digital Assets Data<\/p>\n<\/div>\n<h2>Stablecoins<\/h2>\n<p>The volume of stablecoins on exchange wallets began to decline after peaking at $2.7 billion on April 22, amid rising Bitcoin and other cryptocurrencies. Spikes on June 29 and August 10 were driven by Tether issuances, which account for 73% of the current stablecoin supply on exchanges.<\/p>\n<div id=\"attachment_107208\" style=\"width: 811px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-107208\" class=\"wp-image-107208 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image5-53.png\" alt=\"Dynamics of stablecoins and USDT on exchange wallets\" width=\"801\" height=\"587\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image5-53.png 801w, https:\/\/u1f987.com\/wp-content\/uploads\/image5-53-300x220.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/image5-53-768x563.png 768w\" sizes=\"auto, (max-width: 801px) 100vw, 801px\" \/><\/p>\n<p id=\"caption-attachment-107208\" class=\"wp-caption-text\">Dynamics of stablecoins and USDT on exchange wallets. Source: Glassnode<\/p>\n<\/div>\n<p>Issuance of other stablecoins is rising as well \u2014 recently the market capitalization of DAI for the first time <a href=\"https:\/\/u1f987.com\/en\/news\/dai-market-capitalization-surpasses-400-million-for-the-first-time\">exceeded $400 million<\/a>. The total amount of DAI locked in the Compound protocol surpassed $1.2 billion. As of August 11 this figure had grown by 7.9%. $973 million of this is in loans.<\/p>\n<p>Genesis Global Capital and Circle <a href=\"https:\/\/u1f987.com\/en\/news\/circle-and-genesis-to-develop-defi-products-built-on-the-usdc-stablecoin\">have begun<\/a> developing DeFi protocols based on the USDC stablecoin. For other developments in the decentralized finance space, see the regular <a href=\"https:\/\/u1f987.com\/en\/news\/dapps-bulletin-defi-frenzy-and-risks-on-the-horizon\">newsletter<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s repeated unsuccessful test of the $12,000 level was accompanied by a contraction in trading volumes. Against this backdrop, some altcoins continued their rally, according to Arcane Research.<\/p>\n","protected":false},"author":1,"featured_media":27180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1874,1168,1145,455,807],"class_list":["post-27179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arcane-research","tag-crypto-derivatives","tag-market-analysis","tag-p2p","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27179"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27179\/revisions"}],"predecessor-version":[{"id":27181,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27179\/revisions\/27181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27180"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}