VNDC Report: Trading volume reached 3,100 billion, grew by 85%(September 2020)

VNDC Report: Trading volume reached 3,100 billion, grew by 85%(September 2020)

Due to the continuous upgrading of applications and developing more new products, in September, VNDC has created the trust to customers. Since then not only attracted more new members to the VNDC community but also promoted investors to conduct transactions, contributing to promoting monthly growth.

1. Number of users

In September 2020, the number of VNDC users increased remarkably. Within a month, the number of new users of VNDC reached 69,574, an increase of ~ 17% from the previous month. This is a significant augmentation showing that VNDC is increasingly trusted and popular in the Vietnamese Crypto market.

Table 1. Number of VNDC users in September 2020

Total Users

August

638.934

September  

708.508

Change

+69.574

2. Number of transactions

Total trading volume in September 2020 of VNDC reached ~ 3.1 trillion VND (~ 129,410,750 USD), 1.4 trillion VND more than the previous month.

Table 2. Total transaction volume of VNDC in September 2020

Volume Transfers
August 1.668.111.598.549  4.111.276
September 3.090.382.236.661  1.893.708
Change 1.422.270.638.112 – 2.217.568

In September, the total trading volume of VNDC increased dramatically compared to August, specifically increasing by 85.2%. This is a record number in VNDC’s transaction history. In parallel with the continuous listing of new tokens, the increasingly improved features make the transactions, investment, and exchange of assets on the VNDC Wallet easier for the investors.

The number of transactions in September decreased by 2.2 million transactions compared to August, this stemmed from a change in the Staking Daily policy with the number of VNDC holdings <50,000 VNDC that will be paid weekly Staking. High performance and processing speed of the system. The average trading volume of VNDC reached 1,631,000 VND per transaction, an increase of 303% compared to August.

3. The amount of VNDC distributed

The amount of VNDC distributed in September 2020 increased compared to August on both On-chain and Off-chain channels.

Table 3. The amount of VNDC distributed in September 2020

On-chain Off-chain
September 2.827.307.136 400.960.361.746
Monthly Change +494.426.292 +77.572.463.430

It can be seen that the amount of VNDC mainly used is still on Off-chain (transactions are concentrated in the digital banking platform of VNDC), reaching 400.9 billion VND, an increase of 323.3 billion VND compared to the previous month. However, the amount of VNDC distributed on the Blockchain network increased slightly, reaching only 2.8 billion VNDC. Since VNDC is not currently listed on many exchanges, the wallet is decentralized and there is no decentralized application of VNDC Stablecoin application, however, it is expected that in the coming time, VNDC will develop and launch decentralized applications. and listing on multiple exchanges to increase VNDC volume on the blockchain network.

4. New Listings

Also in September 2020, VNDC had 10 new electronic coins listed on the VNDC Wallet. These are all the coins that have received a lot of attention from investors in the market, especially the DeFi trend. Immediately after being listed, the number of coins to be held and traded reached a significant amount (Data are shown in the table).

Table 4. New cryptocurrencies listed in September 2020 of VNDC

Ticket Name Date Volume (in VNDC) Transfers
TRX Tron 18/09/2020 18.414.813.964 9.981
UNI Uniswap 28/09/2020 2.563.947.690 717
SOL Solona 28/09/2020 110.318.936 54
SRM Serum 28/09/2020 960.329.664 72
LEND AAVE 28/09/2020 459.651.534 183
YFI Yearn.Finance 28/09/2020 780.565.708 102
COMP Compound 28/09/2020 68.789.009 48
SXP Swipe 28/09/2020 1.405.393.439 197
YFII DFI.Money 28/09/2020 85.700.639 58
SUSHI Sushiswap 28/09/2020 317.087.030 266

Listed since September 18, 2020, the TRX has attracted a lot of attention from investors. Specifically, within 12 days, the trading volume of TRX  reached 18.4 billion VND (~ 800,644 USD), the number of transactions reached ~ 10,000 transactions.

On September 28, 2020, VNDC continued to list 9 new currencies: UNI, SOL, SRM, LEND, YFI, COMP, SXP, YFII, and SUSHI. These are all currencies that have received a lot of attention recently, especially UNI and SXP. 

Within two days of being listed, UNI and SXP had reached a significant trading volume, VND 2.5 billion and VND 1.4 billion. Followed by SRM, YFI, and LEND, which reached the number of transactions volume of 960.3 million VNDC, 780.5 million VNDC, and 459.6 million VNDC. The remaining cryptos, SOL, COMP, YFII, SUSHI reached ~ 100-300 million VNDC.

Furthermore, in September, VNDC integrated USDT on the TRC20 protocol on TRON Network, which helps investors in reducing GAS fees much more than Ethereum’s ERC20 standard. The USDT transaction fee on TRC20 at VNDC is completely free.

5. Most transacted assets on VNDC Wallet

5. Striking assets on VNDC Wallet (in VNDC)

Table 5.1. 5 assets most owned in September 2020 in VNDC

Ticket Name Amount
VNDC VNDC 112.929.643.148
TOMO TomoChain 664.213,74 
USDT Tether 1.802.467,02
BTC Bitcoin 31
ETH Ethereum 1.429,09

In September 2020, the top 5 owned assets on the VNDC Wallet were VNDC, TOMO, USDT, BTC, and ETH. These can be said to be the most stable coins in the crypto market today, it is understandable that investors mostly prefer these coins. In particular, VNDC was the asset stored the most, with the amount up to ~ 113 billion VND. Followed by USDT with possession of 41.8 billion VNDC. TOMO and ETH were held in an equal amount, ~ 11 billion VNDC each. Last but not least, the amount of BTC reached 7.8 billion VNDC.

Top 10 traded assets

Table 5.2. Top 10 traded assets in September 2020 on VNDC

Ticket Name Volume (in VNDC) Monthly Change
VNDC VNDC 3.086.015.986.100

+85%

TOMO TomoChain 1.249.668.660.787

+713%

USDT Tether 407.905.674.867

– 17%

BTC Bitcoin 96.584.550.797 -37%
ETH Ethereum 171.371.445.493 -22%
LINK ChainLink 88.657.131.185 +41%
NEXO Nexo 6.433.191.533 -24%
TRX Tron 18.414.813.964 ——
BNB Binance Coin 55.302.447.131 +2550%
KNC Kyber Network 18.316.517.030 -10%

In September 2020, VNDC and TOMO were the two currencies with the most transactions with the figures reaching VND 3.1 trillion and VND 1.2 trillion, respectively. Next was USDT with the transaction volume of 407.9 billion VND.

In particular, in the top 10 most traded assets in September, the new coin TRX appeared. This proves that this is a currency with great attraction and is trusted by many speculators to trade.

Compared to August 2020, there were 4/10 cryptos witnessed an increase in transaction volume, namely VNDC, TOMO, LINK, and BNB. Specifically, the BNB coin was raised 25.5 times over the previous month, this has helped BNB rise to the top 10 in September, replacing CHI, which has been at the top for 6 months. Moreover, the transaction volume of TOMO reached ~ 1.1 trillion VND, 713% more than August 2020.

6. Transaction amount VNDC p2p

Table 6. Volume of VNDC p2p transactions in September 2020

Volume Transfers
70.525.579.434 6.111

The peer-to-peer transaction volume (P2P) in September 2020 reached 70.5 billion VND with 6.1 thousand transactions. It can be said that p2p Trading is a safe form, trusted and chosen by the majority of users when trading digital assets on VNDC.

Epitome

Generally, in September 2020, the number of users and transaction volume of VNDC both increased significantly. This is a good sign that VNDC’s products are gaining more and more trust in the volatile and risky Crypto market nowadays. In October 2020, VNDC continues to set optimal targets, while upgrading and improving products to bring out the best experience.

Thao Duong Enjoy dealing with problems and challenging issues.
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