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 FiguresFigureFigure characteristics
Total cryptocurrency market capitalization, USD millionFig. 1The 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. 1The 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. 2The 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. 2The 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 assetsFig. 3The 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 millionFig. 3The 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 capitalizationFig. 4, 5The 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

IndicatorEvent

September 3, 2017

Trend forecast* (optimistic)

10 September, 2017

Growth forecast**

10 September, 2017

Cryptocurrency and digital assets market capitalization, USD million$166,644 million177 363 USD millionUnchanged

(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 assets1,101
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

IndicatorCharacteristics
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

IndicatorJanuary-August 2017July-August 2017Current 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*16810072
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)15.712.882.11
Weighted average current reward on funds (WACRF)3.582.263.00

*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 nameIndicator
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

MonthCollectedThe number of ICOs*Average
January4.531,50
February9.751,94
March4.731,57
April127.8177,52
May168.41610,53
June995.23033,17
July461.32915,91
August590.4738,09

*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 NameCategoryWebsiteCollected
1FilecoinDatafilecoin.io252,0
2SALTFinancesaltlending.com54,5
3MonethaFinancemonetha.io36,4
4StoxPrediction platformstox.com33,4
5EverexFinanceeverex.io26,4
6DecentralandOtherdecentraland.org25,0
70xCore technology & Infrastructure0xproject.com24,0
8BitbounceCore technology & Infrastructurebitbounce.io10,9
9DmarketCommercedmarket.io10,4
10PoetContentpo.et10,0

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 NameCategoryWebsiteCollected
Storj, phase 1Datastorj.io0,5
MuseDatamuseblockchain.com0,5
MaidsafeDatamaidsafe.net6,0
PatientoryDatapatientory.com7,2
TierionDatatierion.com25,0
Storj, phase 2Datastorj.io30,0
FilecoinDatafilecoin.io252,0
SANDatateamco.inn/a
CloudDatacloudwith.men/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 NameCategoryWebsiteCollectedDate
PopulousFinancepopulous.co10,9June 2017
VeritaseumFinanceveritaseum.com11May 2017
TokencardFinancetokencard.io12,7May 2017
Omise GOFinanceomise.co25June 2017
EverexFinanceeverex.io26,4Aug 2017
MonacoFinancemona.co27June 2017
PolybiusFinancepolybius.io31,7July 2017
MonethaFinancemonetha.io36,4Aug 2017
SALTFinancesaltlending.com54,5Aug 2017
TenXFinancetenx.tech83June 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 NameCategoryWebsiteCollectedDate
DelphiPrediction platformdelphi.markets0,6July 2017
WingsPrediction platformwings.ai2,1January 2017
AugurPrediction platformaugur.net5,3October 2015
GnosisPrediction platformgnosis.pm12,5April 2017
StoxPrediction platformstox.com33,4Aug 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 NameCategoryWebsiteCollectedDate
BlockCDNContentblockcdn.org0,3December 2016
CreativechainContentcreativechain.org0,3May 2017
GolosContentgolos.io0,46December 2016
LunyrContentlunyr.com3,4April 2017
DecentContentdecent.ch4,1Nov 2016
PoetContentpo.et10Aug 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)

NameUSD RaisedToken Sale PriceCurrent Token PriceToken rewardETH rewardBTC rewardToken / ETH rewardToken / BTC reward
10X240000000,0480,3066,381,131,035,646,18
2District0X97895400,0160,0825,031,511,663,343,02
3SunContract19801550,0160,0543,361,511,662,232,02
4Poet100000000,0060,0182,811,161,352,432,08
5Investfeed40479280,0210,052,371,271,341,861,77
6Blockcat70349260,7651,6022,091,161,091,811,93
7MyBit30359991,9842,691,361,131,031,21,31
8Stox333503201,1271,1531,021,521,610,670,63
9Opus58251480,0440,0410,941,031,030,910,91
10Digital Developers Fund19633320,3050,2020,661,161,350,570,49
11Monsterbyte10333400,1020,0520,511,271,340,40,38
12Bolenum186060,7240,010,011,141,050,010,01

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 termsDefinitions
Initial coin offering, ICOA 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 capitalizationValue 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 capitalizationAggregate market value of cryptocurrencies circulating on the market.
Total cryptocurrency market capitalizationCryptocurrency and digital assets market capitalization, i.e. the aggregate market value of all cryptocurrencies and digital assets circulating on the market.
Token rewardToken performance (current token price / token price during the ICO), i.e. the reward per $1 spent on buying tokens.
DominanceMarket 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 MineableA token is not mineable – the term is used for cryptocurrencies (tokens) which cannot be mined or issued through mining.
PreminedThe 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 assetsNumber 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 capitalizationAverage market capitalization, i.e. ratio of all cryptocurrencies and digital assets market capitalization to their number.
Token rewardPerformance 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 saleAlternative 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 saleSimilarly 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 rewardThis 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 rewardThis 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.

Disclaimer: While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections.

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