0x project leads Bitcoin, Ethereum and Litecoin as the most held asset

0x project leads Bitcoin, Ethereum and Litecoin as the most held asset

The cryptocurrency industry makes up for an interesting space in terms of statistics and facts, as there is a continuous change on a regular basis.

At the end of March, Ethereum was highlighted as one of the worst-performing assets after dropping to a lower $100 level, however fast forward a month, it is currently the best-performing asset in the last two weeks.

A comparison between these digital assets is also based on network activity and user behavior in the market, which recently has been highlight by Coinbase’s statistics.

According to a recent tweet shared by CryptoDiffer, the top 15 cryptocurrencies with the highest holding statistics were revealed for the month of April.

Now, a general crypto enthusiast would have expected Bitcoin to be the most held asset in the market but to the community’s surprise, 0x Project was the topped most held asset on Coinbase.

 

According to the chart above, it can be observed that ZRX had the highest holding period of 137 days and that one of the three assets had a holding period of more than 100 days. Bitcoin and Ethereum were the other two assets that had a holding period of more than 100 days, at 130 and 106 days respectively.

However, it terms of holding popularity Bitcoin continued to be number 1 on Coinbase, followed by Ethereum and Litecoin.

From market standards, when a token has a high holding period in the industry, it is reflective of investors’ confidence in that particular asset, because consumers keep it in their portfolio for a longer period of time. Vice versa, if a token is held for a shorter period of time, it may imply a lack of interest support.

However, on the basis of the functionality of these assets, the holding period may also differ. For example, stablecoins, such as DAI, would generally not be held by users for a longer period of time because they are a utility-intensive asset that undergoes continuous transactions in the space.    It does not mean, in particular, that DAI did not have the confidence of the market, given that it had a low holding period.

Hence, it can be implied that the holding period of an asset is not exactly the correct way to detect investors’ confidence in crypto assets.

0x launched Matcha, A Decentralized Exchange aggregation platform

However, the 0x project hasn’t been active on its current laurels, and from a development perspective, it has been relatively active. On 15th April, 0x announced the launch of Matcha, which will provide an improved and efficient trading on its DEX. Considering the decentralized exchange market is on a rise, the launch comes at an appropriate time as according to DeFi pulse, a decentralized finance data aggregator, Matcha will be up competing with Uniswap, Bancor, and Kyber Network. The three currently hold a total of about $50 million in locked value, Uniswap holding 70% of this value.

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