Identifying systemically important services in cryptocurrency markets
At the time of writing, March 6th 2018, 3:38 PM (UTC), the total market capitalization of the cryptocurrency markets (including coins, excluding tokens) was $405,939,039,748. The largest assets by capitalization are bitcoin (BTC) $187,065,686,782, and ether (ETH) $81,602,911,777.
To begin the development of an analytical model which behavioral finance-aware, we should consider that in the retail segment, people usually utilize one or more public services before checking the status of, or performing a transaction. Those services include price trackers targeted at different regional markets, trading platforms of various types, centralized exchanges and instant exchanges, wallets, among many others. A common usage metric for many of them is page hits. A sample of the largest 1000 contributors to each the Bitcoin network and the Ethereum network (measured at points of consumption) are shown in Figure 1.