Coinspeaker partnered with ICOBox to provide our readers with monthly analysis conducted by Professor D.A. Kornilov and D.A. Zaitsev devoted to cryptocurrency and digital assets markets.

Information as of September 3, 2017 (results over the period from January 1, 2017 to date)

This report was created by:

  • Professor Dima Kornilov, Doctor of Economics, Member of the Russian Academy of Natural Sciences, and Leading Analyst at ICOBox
  • Dima Zaitsev, PhD in Economics, Head of International Public Relations at ICOBox
  • Mike Raitsyn, co-Founder at ICOBox

1. General Cryptocurrency and Digital Assets Market Analysis

1.1 General cryptocurrency and digital assets market analysis (by week, month, quarter, and year). Main events. General cryptocurrency and digital assets market analysis (by month, quarter, and year).

In 2017, the cryptocurrency market went through explosive growth (see Table 1.1).

Table 1.1. Trends in cryptocurrency market capitalization and main cryptocurrencies (Jan 1, 2017 – Sept 1, 2017)

monthly-cryptocurrency-and-ico-market-analysis-september-2017-table-01

Data source: coinmarketcap.com

Table 1.1. shows data as of the start of Q1 and Q2 2017 (Jan-17 (Q1) and Apr-17 (Q2)), and as of the start of July (Jul-17 (Q3)), August, and September (Aug-17, Sep-17) of this year. In the first 8 months of 2017 the total cryptocurrency and digital assets market capitalization (total cryptocurrency market capitalization) grew from $17.67 billion to $171.64 billion, increasing almost tenfold. In Q1 the capitalization growth was only 33.62%, although it went up to 73.06% in Q2, and reached 47.83% in August.

Bitcoin capitalization grew fourfold and reached $76.53 billion (from $15.48 billion at the start of the year). Other cryptocurrencies grew even more significantly. In the 8 months of 2017 Altcoin (Bitcoin competitor) market grew from $2.19 billion to $95.11 billion – an increase of over 40 times. The Altcoin’s market share (dominance) is now over half of the capitalization of the entire market (52.44%).

Of all Altcoins Ethereum is the cryptocurrency most in demand, its market share (dominance) grew to almost 20%, while in the same 8 months its capitalization increased 46-fold and reached $33.57 billion.

1.2 Market trends

Cryptocurrency and digital assets market trends from January 1, 2017 are represented in below figures (Figures 1.1 – 1.5).

Table 1.2. Figures legends and characteristics

Global Figures Figure Figure characteristics
Total cryptocurrency market capitalization, USD million Fig. 1 The figure shows cryptocurrency and digital assets market capitalization trends from the start of 2017
The rate of market change (in % to the beginning of the year) Fig. 1 The figure shows the % change in cryptocurrency and digital assets market capitalization compared to the start of 2017
Change in the market capitalization (in USD million compared to previous period) Fig. 2 The figure shows USD million in weekly change (increase or decrease) in cryptocurrency and digital assets market capitalization starting from January 1, 2017
The rate of market change (in % compared to previous period) Fig. 2 The figure shows % of weekly change (increase or decrease) in cryptocurrency and digital assets market capitalization starting from January 1, 2017
Number of cryptocurrencies and digital assets Fig. 3 The figure shows the trends in the increase of the number of Cryptocurrencies and digital assets circulating on cryptoexchanges. As of January 1, 2017 their number was 617, and currently (as of September 3, 2017) it reached 1,101
Average market capitalization, USD million Fig. 3 The figure reflects the growth in the average cryptocurrency and digital assets market capitalization from January 1, 2017, i.e. the ration between the market capitalization of all cryptocurrencies and digital assets and their number
Forecast of total cryptocurrency market capitalization Fig. 4, 5 The figure shows the time trends (forecast) in the cryptocurrency and digital assets market capitalization change

Below you will find the chart with Total Cryptocurrency Market Capitalization.

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-1-1

Figure 1.1. Total cryptocurrency market capitalization

Figure 1.1 shows weekly cryptocurrency market change from January 1, 2017 to September 3, 2017. Over this period the market capitalization grew by 841% and reached $166,644 millions.

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-1-2

Figure 1.2. Change in the market capitalization

Despite the significant market capitalization growth in 2017, the market fluctuates wildly. This makes it attractive to both the long-term backers and the people interested in making quick excursions to the market. Particularly drastic drops were observed in the weeks of June 25-July 2, 2017 (-13%) and July 9-16, 2017 (-28%). The greatest growth increases occurred in the weeks of April 30- May 7, 2017 (+32%) and July 16-23, 2017 (+39%).

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-1-3

Figure 1.3. Number of cryptocurrencies and digital assets

In the 8 months of 2017 the total number of various cryptocurrencies and digital assets listed on exchanges grew from 617 to 1,101. At the same time, the average cryptocurrencies and digital assets capitalization grew from $28.7 million to $151.4 million, i.e. more than fivefold.

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-1-4
Figures 1.4. Forecast of total cryptocurrency market capitalization ( Jan  1, 2017 – Sept 17, 2017)

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-1-5

Figures 1.5. Forecast of total cryptocurrency market capitalization ( July 30, 2017 – Sept 17, 2017)

From the start of the year the market showed exponential growth, which in the past 5 weeks turned into linear growth. The forecast (Table 1.3.) was made based on this trend.

1.3 The state of cryptocurrency market at the end of the week of September 3, 2017 and its development forecast for next week

Table 1.3 Cryptocurrency market forecast

Indicator Event

September 3, 2017

Trend forecast* (optimistic)

10 September, 2017

Growth forecast**

10 September, 2017

Cryptocurrency and digital assets market capitalization, USD million $166,644 million 177 363 USD million Unchanged

(will recover after wild fluctuations)

Change in cryptocurrency and digital assets market capitalization (in USD million per week) Growth per week

+$10,224 million

Growth per week

+10,719 million

Wild fluctuations possible
Cryptocurrency and digital assets market capitalization change (in % per week) Growth per week

+6.5%

Growth per week

+6.2%

The number of cryptocurrencies and digital assets 1,101
Average market capitalization, USD million $151,400 million

*Forecast based on the trend (optimistic). This week the optimistic forecast based on the trends is irrelevant in view of the significant events on the Chinese market (see Breaking News below)

** Forecast based on the qualitative market analysis. Wild fluctuations possible. Its stabilization will take time and will depend on the response of other major players (a week? A month seems more likely.)

1.4. Brief overview of the cryptocurrency market and events

Bitcoin

Ethereum

Lightning Network

BTC-E

Misc

Breaking News


2. General analysis of the ICO market (per week, month, quarter, and year). Main events

2.1. Brief overview of the Cryptocurrency market and events

2.2. Aggregated trends and performance indicators of the past (completed) ICOs

A new set of tools is proposed to assess the trends and performance of the successfully completed and/or listed ICOs:

Table 2.1. New tools to access the trends and performance of the successfully completed and/or listed ICOs

Indicator Characteristics
Average collected funds (ACF) Average amount of funds collected per ICO project over the period (a month, a quarter, a year);
Average token performance (ATP) Average performance of funds spent on buying tokens or average ratio between the current token price and token sale price over the period (a month, a quarter, a year), i.e. an average reward on $1 spent on buying tokens during the token sale, if they are traded on exchanges for USD.
Weighted average current reward on ICO funds (WACRF) Average weighted current performance of funds spent on buying tokens over the period (a month, a quarter, a year). This indicator is similar to the previous indicator “average token performance” (ATP) but is calculated taking into consideration the weight. As a weight the “average collected funds” parameter (ACF) is used.
Weighted average monthly reward on ICO funds (WAMRF) Average weighted monthly performance of funds spent on buying tokens over the period (a month, a quarter, a year). This indicator is similar to the previous indicator “weighted average current reward on funds” (WACRF) but is calculated based on recalculated average monthly performance.

Table 2.2. Aggregated trends and performance indicators of the past (completed) ICOs

Indicator January-August 2017 July-August 2017 Current month – August
Total amount of funds collected* $2,360.84 million $1,051.65 million $557.90 million
Number of companies who completed an ICO* 168 100 72
Max collected, USD million (ICO name)** 347 (EOS) 347 (EOS) 252 (Filecoin)
Average collected funds, $ $14.20 million $15.02 million $7.75 million
Max token reward (ICO name) 666.36? (Spectrecoin) 28.39? (Bitquence) 6.39? (0?)
Average token reward  (ATR) 15.71 2.88 2.11
Weighted average current reward on funds (WACRF) 3.58 2.26 3.00

*Data source: tokendata.io, only popular and/or successfully completed ICOs (i.e. ICOs which were able to collect the minimum set amount of funds and/or ICOs listed on exchanges. For some ICOs information may be incomplete (for instance, the amount of funds collected).

** Data source: eos.io, Eosscan.io

2.3. Aggregated indicators to assess the market of active and planned ICOs

Table 2.3. Aggregated indicators to assess the market of active and planned ICOs

Indicator name Indicator
The number of projects conducting an active ICO as of the date (3 September, 2017) 80
The number of projects planning an ICO as of the date (3 September, 2017) 144

Data source: tokendata.io, coinschedule.com and icoalert.com

2.4. Quantitative analysis of the ICO market

1. Amount of fund collected and the number of ICOs

Key market trend is the increase in the number of ICOs (4-5 ICOs per day are currently announced) and the drop in the amount of funds collected as the amount of funds available is not growing as fast as the market (a little higher than the previous month).

 Table 2.4. The amount of funds collected and the number of ICOs

Month Collected The number of ICOs* Average
January 4.5 3 1,50
February 9.7 5 1,94
March 4.7 3 1,57
April 127.8 17 7,52
May 168.4 16 10,53
June 995.2 30 33,17
July 461.3 29 15,91
August 590.4 73 8,09

*Data for funds collected is not available for all ICOs

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-1

Figure 2.1. The trends in the amount of funds collected and the number of ICOs conducted from the start of the year

  1. Top 10 ICOs

Table 2.5. Top 10 ICOs in terms of the amount of funds collected (August)

# ICO Name Category Website Collected
1 Filecoin Data filecoin.io 252,0
2 SALT Finance saltlending.com 54,5
3 Monetha Finance monetha.io 36,4
4 Stox Prediction platform stox.com 33,4
5 Everex Finance everex.io 26,4
6 Decentraland Other decentraland.org 25,0
7 0x Core technology & Infrastructure 0xproject.com 24,0
8 Bitbounce Core technology & Infrastructure bitbounce.io 10,9
9 Dmarket Commerce dmarket.io 10,4
10 Poet Content po.et 10,0

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-2

Figure 2.2. Top 10 ICOs in terms of the amount of funds collected (ended in August 2017)

The vast majority of funds was collected by Filecoin ICO. The absolute majority of funds came from traditional, non-blockchain backers.

3. Top ICOs in their categories

 Table 2.6. Top ICOs in terms of the amount of funds collected, Data category (August)

ICO Name Category Website Collected
Storj, phase 1 Data storj.io 0,5
Muse Data museblockchain.com 0,5
Maidsafe Data maidsafe.net 6,0
Patientory Data patientory.com 7,2
Tierion Data tierion.com 25,0
Storj, phase 2 Data storj.io 30,0
Filecoin Data filecoin.io 252,0
SAN Data teamco.in n/a
Cloud Data cloudwith.me n/a

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-3

Figure 2.3. Top ICOs in terms of the amount of funds collected, Data category (August)

Table 2.7. Top ICOs in terms of the amount of funds collected, Finance category (August)

ICO Name Category Website Collected Date
Populous Finance populous.co 10,9 June 2017
Veritaseum Finance veritaseum.com 11 May 2017
Tokencard Finance tokencard.io 12,7 May 2017
Omise GO Finance omise.co 25 June 2017
Everex Finance everex.io 26,4 Aug 2017
Monaco Finance mona.co 27 June 2017
Polybius Finance polybius.io 31,7 July 2017
Monetha Finance monetha.io 36,4 Aug 2017
SALT Finance saltlending.com 54,5 Aug 2017
TenX Finance tenx.tech 83 June 2017

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-4

Figure 2.4. Top ICOs in terms of the amount of funds collected, Finance category (August)

Table 2.8. Top ICOs in terms of the amount of funds collected, Prediction platform category (August)

ICO Name Category Website Collected Date
Delphi Prediction platform delphi.markets 0,6 July 2017
Wings Prediction platform wings.ai 2,1 January 2017
Augur Prediction platform augur.net 5,3 October 2015
Gnosis Prediction platform gnosis.pm 12,5 April 2017
Stox Prediction platform stox.com 33,4 Aug 2017

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-5

Figure 2.5. Top ICOs in terms of the amount of funds collected, Prediction platform category (August)

Table 2.9. Top ICOs in terms of the amount of funds collected, Content category (August)

ICO Name Category Website Collected Date
BlockCDN Content blockcdn.org 0,3 December 2016
Creativechain Content creativechain.org 0,3 May 2017
Golos Content golos.io 0,46 December 2016
Lunyr Content lunyr.com 3,4 April 2017
Decent Content decent.ch 4,1 Nov 2016
Poet Content po.et 10 Aug 2017

 

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-6

Figure 2.6. Top ICOs in terms of the amount of funds collected, Content category (August)

  1. Top ICO performance for August

Table 2.10. Top ICO performance. Project indicators in Core Technology & Infrastructure category (Top efficiency for August)

Name USD Raised Token Sale Price Current Token Price Token reward ETH reward BTC reward Token / ETH reward Token / BTC reward
1 0X 24000000 0,048 0,306 6,38 1,13 1,03 5,64 6,18
2 District0X 9789540 0,016 0,082 5,03 1,51 1,66 3,34 3,02
3 SunContract 1980155 0,016 0,054 3,36 1,51 1,66 2,23 2,02
4 Poet 10000000 0,006 0,018 2,81 1,16 1,35 2,43 2,08
5 Investfeed 4047928 0,021 0,05 2,37 1,27 1,34 1,86 1,77
6 Blockcat 7034926 0,765 1,602 2,09 1,16 1,09 1,81 1,93
7 MyBit 3035999 1,984 2,69 1,36 1,13 1,03 1,2 1,31
8 Stox 33350320 1,127 1,153 1,02 1,52 1,61 0,67 0,63
9 Opus 5825148 0,044 0,041 0,94 1,03 1,03 0,91 0,91
10 Digital Developers Fund 1963332 0,305 0,202 0,66 1,16 1,35 0,57 0,49
11 Monsterbyte 1033340 0,102 0,052 0,51 1,27 1,34 0,4 0,38
12 Bolenum 18606 0,724 0,01 0,01 1,14 1,05 0,01 0,01

monthly-cryptocurrency-and-ico-market-analysis-september-2017-figure-2-7

Figure 2.7 Top ICO performance (August)

Annexes contain a glossary.

Annex 1 – Glossary

Key terms Definitions
Initial coin offering, ICO A form of collecting funds[1] for new technology projects and startups carried out through an issue and sale of new cryptocurrencies. Also refers to Initial Offer of Tokens. The term was created to mime IPO (Initial Public offering) [Source: https://en.wikipedia.org]
Market capitalization Value of an asset calculated based on its current market (exchange) price. This economic indicator is used to assess the total aggregate value of market instruments, players, and markets. [Source: https://en.wikipedia.org].
Cryptocurrency market capitalization Aggregate market value of cryptocurrencies circulating on the market.
Total cryptocurrency market capitalization Cryptocurrency and digital assets market capitalization, i.e. the aggregate market value of all cryptocurrencies and digital assets circulating on the market.
Token reward Token performance (current token price / token price during the ICO), i.e. the reward per $1 spent on buying tokens.
Dominance Market share, market capitalization of particular cryptocurrency (token) against to the total cryptocurrency market capitalization. Expressed as %.
Token sale price

Current token price

Token sale price during the ICO

Current token price

Not Mineable A token is not mineable – the term is used for cryptocurrencies (tokens) which cannot be mined or issued through mining.
Premined The term is used for cryptocurrencies (tokens) which are issued through mining, and a certain number of which has been created and distributed among certain users at the start of the project.
The rate of market increase (in % to the beginning of the year) The rate of market increase (in % compared to the start of the year), i.e. by how many % did the market capitalization increased compared to the start of the year.
The growth rate of the market (in % to the beginning of the year) The market growth (in % compared to the start of the year), i.e. by how many times did the market capitalization grow compared to the start of the year.
Increase in market capitalization (in USD million compared to previous period) Cryptocurrency and digital assets market capitalization increase (in USD million compared to previous period), i.e. by how many USD million did the market capitalization increase over the period.
The rate of market increase (in % compared to previous period) Market increase rate (in % compared to previous period), i.e. by how many % did the market capitalization increase over the period.
The market growth rate (in % compared to previous period) Market growth rate (in % compared to the start of the year), i.e. by how many times did the market capitalization grow compared to previous period.
Number of cryptocurrencies and digital assets Number of cryptocurrencies and digital assets: at the time of the glossary compilation over 1,070 cryptocurrencies and digital assets were circulating on the market.
Average market capitalization Average market capitalization, i.e. ratio of all cryptocurrencies and digital assets market capitalization to their number.
Token reward Performance of funds spent on buying tokens or ratio of the current token price to the token sale price, i.e. efficiency of $1 spent on buying tokens during the token sale, if listed on an exchange for USD.
ETH reward  – current dollar value of $1 spent on buying tokens during the token sale Alternative performance of funds spent on buying tokens during the ICO or the ratio of the current ETH rate to its rate at the start of the token sale, i.e. if instead of buying the tokens $1 was spent on buying ETH at its rate at the start of the token sale and sold at the current ETH rate.
BTC reward– current dollar value of $1 spent on buying tokens during the token sale Similarly to the above: Alternative performance of funds spent on buying tokens, i.e. if instead of buying the tokens $1 was spent on buying BTC at its rate at the start of the token sale and sold at the current BTC rate.
Token/ETH reward This ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the backer achieved a more significant efficiency of his funds spent on buying tokens than if he were to spend his funds on ETH.
Token/BTC reward This ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the backer achieved a more significant efficiency of his funds spent on buying tokens than if he were to spend his funds on BTC.

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