Yesterday I was playing for a while with Python, when I thought it could be cool to play with some of the coins out there in the market. I was able to extract the data I needed from Nomics, a coffee and off to a good start. Here is part of the process.
Here I got into a data frame the top 100 cryptocurrencies in the world, sorted by their volumes.
Since there are sooo many coins, I just wanted to know which ones are the main 15, ordered by their market capitalization. I knew Bitcoin was the biggest one, but, how big is Bitcoin compared to the others?
Results are not shocking, Bitcoin is by far, the biggest coin in the market. But also I just wanted to know what is the real impact of the other coins in the market, which it doesn’t seem clear in this plot.
By zooming in, we can see how big are the other coins in the market at the moment. I was quite shocked about HEX in there, but this is a 24hs data source.
Volatility
One topic that is commonly discussed in the crypto space is the volatility of the coins, which could be right. Crypto market used to be sooo much more volatile than traditional markets, it still is, but in the last time it has been more calm. There are some days that we still wonder what the hell are we doing here, and some others that we’re glad we’re here.
But let’s see how volatile it was the market yesterday in the last 24 hours.
What a day to PLAY eh. Since we have these type of graphics, you would wonder why don’t we invest in these random, unknowns coins? This is just one day, and it could have been affected by a typical pump and dump that people make to get some dollars.
Let’s see what happens with volatility in the last 7 days.
Still we have PLAY as the winner of the week. But why wouldn’t we all invest in coins like PLAY and just become millionaires from yesterday to today? Is PLAY reliable? Are most of the coins reliable?
Cryptocurrency market has moved and is moving billions of dollars. But we can certainly say that most of the coins are not long term projects, and are still far away from the main ones. I calculated a market capitalization of at least 10 thousand millions to make sure we are in a large project. The rest are medium-tiny projects where speculation gets to be the main actor. Here is a plot where you can see how many coins are over this benchmark and then, you can see the rest and make your own conclusions.
Which ones are these 20 main coins?
Check the full notebook out in here.
