As altcoins are starting to recover, some of the more active ethereum based tokens, or ERC-20 assets, are also becoming more attractive. Trading those assets is also affected by weekly activity.
Ethereum Based Tokens More Active on Weekdays
ERC-20 tokens, based on the Ethereum network, are still the most numerous of crypto asset. But after the prolonged bear market, only a handful survived with relatively strong communities. Exchange support and liquidity are the central factors for token performance, as some of those assets lost markets due to clashes with US security law.
Now, new research reveals token activity on the Ethereum blockchain is also cyclical, depending on the day of the week. Tokens still have slim markets, meaning prices can be more volatile, and volumes are highly unstable. Token transfers also correlate with market price fluctuations.
The latest Longhash analysis based on TokenAnalyst data, reveals a pattern of possible strong and weak days for the top ERC-20 tokens.
“It’s not true for all tokens and it’s not true all the time, but the evidence suggests that generally, the more active a crypto network is, the higher its token price is likely to be….
To read the entire article click here
Author: Christine Vasileva