Check out weekly analysis of cryptocurrency and digital assets markets’ movements over October 9-15, 2017, conducted by Professor Dima Kornilov and Dima Zaitsev under cooperation of Coinspeaker and ICOBox.

Information as of October 15, 2017 (results for the period from July 1, 2017)

This report was created by:

This report presents data on the cryptocurrency and ICO market changes that took place in the third quarter, with special emphasis on an analysis of the changes that took place during the second week of Q4 2017.

  1. General cryptocurrency and digital assets market analysis (by week, month, quarter). Market trends.

      1.1General cryptocurrency and digital assets market analysis (by week, quarter).

Table 1.1. Trends in the capitalization of the cryptocurrency market and main cryptocurrencies from August 1, 2017 to October 15, 2017.

#Parameter1-Aug-171-Sep-17MoM, %1-Oct-17MoM, %8-Oct-17WoW, %15-Oct-17WoW, %
1Total market capitalization, USD billion89.54171.6491.69%147.87-13.85%149.911.36%176.7715.20%
2Altcoin market capitalization, USD billion45.2395.11110.28%75.91-20.19%76.330.55%79.764.30%
Altcoin dominance, %50.51%55.41%9.70%51.34%-7.35%50.92%-0.82%45.12%-12.85%
3Bitcoin price, $2689.444627.2372.05%4341.05-6.18%4429.672.00%5835.9624.10%
Bitcoin market capitalization, USD billion44.3176.5372.71%72.05-5.86%73.582.08%97.0124.16%
Bitcoin dominance, %49.49%44.59%-9.90%48.72%9.27%49.08%0.73%54.88%10.57%
4Ethereum price, $200.97355.6476.96%301.55-15.21%311.063.06%339.538.39%
Ethereum market capitalization, USD billion18.8233.5778.37%28.62-14.76%29.553.17%32.298.49%
Ethereum dominance, %21.02%19.56%-6.95%19.35%-1.07%19.71%1.83%18.27%-7.91%
5Litecoin price, $40.8979.9795.57%55.14-31.05%52.49-5.05%64.1318.15%
Litecoin market capitalization, USD billion2.134.2197.65%2.93-30.36%2.80-4.83%3.4218.29%
Litecoin dominance, %2.38%2.45%3.11%1.98%-19.08%1.87%-6.27%1.94%3.65%
6Smith + Crown Indexn/a10345n/a9147-13.10%92891.53%1105615.98%
7Volume (24h) 3 Crypto, USD million30303757123.99%1566-139.94%213726.73%289226.10%
Market Cap 3 Crypto, USD million72942123740169.64%108240-14.32%1123243.64%13922719.32%
ZAK-3 crypto index4.15%3.04%1.45%1.45%-109.89%1.90%23.96%2.08%8.40%
8Volume (24h) 5 crypto, USD millionn/a5702n/a1830-211.57%244125.04%347929.82%
Market cap 5 crypto, USD millionn/a137216n/a118380-15.91%1211262.27%14803518.18%
ZAK-5 crypto indexn/a4.16%n/a1.55%-168.80%2.02%23.30%2.35%14.23%

* Data as of October 15, 2017, 00:00 UTC (figures in lines 1-6)

** Data as of October 16, 2017, 00:00 UTC (figures in lines 7-8)

Data source: coinmarketcap.com, https://www.smithandcrown.com

During the second week of October (October 9-15, 2017) total cryptocurrency market capitalization growth equaled 15.20%, from USD 149.91 to USD 176.77 billion (see Table 1.1). During the period from October 9-15, the Bitcoin, Ethereum, and Litecoin exchange rates increased by 24.1%, 8.39%, and 18.15%, respectively.

Therefore, a significant growth in the cryptocurrency market has been seen over the past week. Last week the Bitcoin exchange rate appreciated from $4,429.67 to $5,835.96. Since the beginning of the month, the exchange rate has ranged from $4,164.05 (on October 5, 2017) to $5,852.48 (on October 15, 2017), i.e. by more than $1,600 (Table 1.4.2.a).

The Smith + Crown Index for September fell from 10,345 to 9,147 due to market fluctuations, but during the second week of October it increased by 15.98% and equaled 11,056.

To analyze trading activity on cryptocurrency exchanges, the ZAK-n Crypto index is calculated (see the Glossary). The values of the ZAK-3 Crypto and ZAK-5 Crypto indices are presented in Tables 1.1, 1.2, and 1.3. On October 12 and October 13, 2017, the 24-hour trading volumes (Volume 24h) for the three dominate cryptocurrencies (Bitcoin, Ethereum, Ripple) equaled $3,564 and $5,319 million (Table 1.2), and for the five dominant cryptocurrencies – $4,168 and 5,964 million (Table 1.3). All told, the daily values of the ZAK-3 Crypto and ZAK-5 Crypto indices exceeded 3% of the market capitalization of the analyzed cryptocurrencies. The result of this increase in demand for cryptocurrencies was a significant change in their prices.

In Table 1.1, the ZAK-5 Crypto index was calculated from September 1, 2017, since the Bitcoin Cash cryptocurrency only entered the exchange on August 1, 2017, after the Bitcoin hard fork.

Table 1.2. Daily ZAK-3 Crypto index calculation (from October 1, 2017, to October 15, 2017)

Crypto Bitcoin (BTC)Ethereum (ETH)Ripple (XRP)3 Crypto
 Price OpenVolume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h) 3 cryptoMarket cap 3 cryptoZAK-3 Crypto index
Date$USD millionUSD million$USD millionUSD million$USD millionUSD millionUSD millionUSD million%
October 15, 20175836.01 976 97 012 339.5635 32 292 0.2575280 9 923 2 892 139 227 2.1%
October 14, 20175643.51 66993 803338.951732 2220.261221110 0632 397136 0881.8%
October 13, 20175464.23 61590 812304.11 30428 9110.24833999 5845 319129 3074.1%
October 12, 20174829.62 79280 257303.552828 8510.265024510 2313 564119 3393.0%
October 11, 20174789.31 22279 578301.226428 6260.260716110 0621 648118 2661.4%
October 10, 20174776.21 59779 352297.636028 2810.25283849 7582 341117 3922.0%
October 9, 20174614.51 96976 657308.755929 3280.278861010 7593 138116 7442.7%
October 8, 20174429.71 314 73 575 311.1293 29 551 0.2383530 9 198 2 137 112 324 1.9%
October 7, 20174369.490772 565308.934229 3400.2340789 0301 327110 9361.2%
October 6, 20174324.51 07071 811295.231928 0310.23771679 1151 556108 9571.4%
October 5, 20174229.91 16270 234292.825427 8000.21564048 2661 820106 3001.7%
October 4, 20174319.41 11771 713292.825827 7940.20321247 7921 498107 2991.4%
October 3, 20174408.51 28873 181297.532228 2390.2032497 7921 658109 2121.5%
October 2, 20174395.81 43272 963302.533928 7090.2061777 9021 849109 5731.7%
October 1, 20174341.11 208 72 047 301.6306 28 615 0.197651 7 578 1 566 108 240 1.4%

* Data as of October 16, 2017, 00:00 UTC

Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the five dominant cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash) at the end of the week totaled USD 3,479 million (Tables 1.1, 1.3), and equaled 2.4% of their market capitalization. The ZAK-3 Crypto and ZAK-5 Crypto indices are considered in more detail in Tables 1.2 and 1.3.

Table 1.3. Daily ZAK-5 Crypto index calculation (continuation of Table 1.2)

CryptoLitecoin (LTC)Bitcoin Cash (BCH)5 Crypto
 Price OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h)

5 crypto

Market cap

5 crypto

ZAK-5 Crypto index
Date$USD millionUSD million$USD millionUSD millionUSD millionUSD million%
October 15, 201764.13454 3 423 322.42133 5 385 3 479 148 035 2.4%
October 14, 201759.413133 170321.541645 3702 874144 6272.0%
October 13, 201760.553573 230314.152885 2435 964137 7804.3%
October 12, 201750.893412 714315.472625 2624 168127 3153.3%
October 11, 201750.75572 706320.21325 3411 837126 3131.5%
October 10, 201750.15902 673313.223685 2242 799125 2892.2%
October 9, 201753.081522 829342.762885 7163 579125 2892.9%
October 8, 201752.49101 2 797 360.09204 6 005 2 441 121 126 2.0%
October 7, 201752.14522 777363.6916 0631 470119 7761.2%
October 6, 201751.64592 749355.441825 9271 797117 6331.5%
October 5, 201751.4702 736358.422685 9712 158115 0081.9%
October 4, 201752.28772 782404.22526 7301 827116 8111.6%
October 3, 201753.39892 841421.791307 0221 877119 0751.6%
October 2, 201754.55952 901415.872206 9222 164119 3961.8%
October 1, 201755.14100 2 932 433.38164 7 208 1 830 118 380 1.5%

The high trading volume (Volume 24h) relative to market capitalization contributes to increased volatility and wild price changes on the cryptocurrency market. The previous report considered the relative trends in the Bitcoin and Ethereum exchange rates from the start of the year, as well as the previous Bitcoin hard fork, which led to the appearance of Bitcoin Cash.

Right now, two potential new Bitcoin hard forks, which would, of course, impact the demand for cryptocurrencies, are the subject of wide speculation (see the previous reports). Even now heightened interest in Bitcoin and a fall in demand for Bitcoin Cash can be seen (see Tables 1.4.a, 1.4.c; fig. 1).

Figure 1. Price trends of Bitcoin, Bitcoin Cash

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1

Figure 1 clearly shows the asynchronous change in prices for Bitcoin and Bitcoin Cash since early October 2017.

Below is an analysis of the daily change in the Bitcoin and Bitcoin Cash exchange rates, as well as the change in one of the alternative cryptocurrencies, Ethereum, from the beginning of October 2017 (Tables 1.4.a, 1.4.b, 1.4.c).

Table 1.4.a. Daily change in the Bitcoin (BTC) exchange rate, trading volume (Volume 24h) and capitalization, USD (from October 1, 2017, to October 15, 2017)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D%Index, rate to start of yearVolume (24h), USD millionMarket cap, USD million
October 15, 20175835.965852.485478.61373.875678.1997.4%-2.65.691 97697 012
October 14, 20175643.535837.705591.64246.065831.79103.3%3.35.841 66993 803
October 13, 20175464.165840.305436.85403.455647.21103.7%3.75.663 61590 812
October 12, 20174829.585446.914822.00624.915446.91112.9%12.95.462 79280 257
October 11, 20174789.254873.734751.63122.104826.48100.9%0.94.831 22279 578
October 10, 20174776.214922.174765.10157.074781.99100.2%0.24.791 59779 352
October 9, 20174614.524878.714564.25314.464772.02103.5%3.54.781 96976 657
October 8, 20174429.674624.144405.64218.504610.48104.1%4.14.621 31473 575
October 7, 20174369.354443.884321.05122.834426.89101.3%1.34.4390772 565
October 6, 20174324.464413.274320.5392.744370.81101.0%1.04.381 07071 811
October 5, 20174229.884362.644164.05198.594328.41102.3%2.34.341 16270 234
October 4, 20174319.374352.314210.42141.894229.3698.0%-2.04.241 11771 713
October 3, 20174408.464432.474258.89173.584317.4897.9%-2.14.321 28873 181
October 2, 20174395.814470.234377.4692.774409.32100.1%0.14.421 43272 963
October 1, 20174341.054403.744269.81133.934403.74101.5%1.54.411 20872 047

* Data as of October 16, 2017, 00:00 UTC

Data source: coinmarketcap.com

Table 1.4.b. Daily change in the Ethereum (ETH) exchange rate, trading volume (Volume 24h) and capitalization, USD (from October 1, 2017, to October 15, 2017)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D%Index,rate to start of yearVolume (24h), USD millionMarket cap, USD million
October 15, 2017339.53342.72320.4322.29336.6099.1%-0.941.2063532 292
October 14, 2017338.85347.98334.7013.28339.63100.3%0.341.5751732 222
October 13, 2017304.08348.60299.6648.94338.76111.4%11.441.461 30428 911
October 12, 2017303.50309.15303.295.86304.14100.2%0.237.2352828 851
October 11, 2017301.18304.39299.105.29303.46101.2%1.237.1426428 626
October 10, 2017297.60306.15293.1712.98299.87100.8%0.836.7036028 281
October 9, 2017308.67309.31288.1921.12297.3996.4%-3.636.4055929 328
October 8, 2017311.06312.54308.034.51308.6199.2%-0.837.7729329 551
October 7, 2017308.89313.13304.988.15311.12100.8%0.838.0834229 340
October 6, 2017295.15308.84294.9513.89308.59104.3%4.337.7731928 031
October 5, 2017292.77298.04288.849.20295.86101.1%1.136.2125427 800
October 4, 2017292.75299.39290.898.50292.66100.1%0.135.8225827 794
October 3, 2017297.48300.11288.1311.98292.4698.3%-1.735.8032228 239
October 2, 2017302.48302.92294.588.34297.4898.4%-1.636.4133928 709
October 1, 2017301.55303.19295.068.13302.34100.3%0.337.0130628 615

* Data as of October 16, 2017, 00:00 UTC

Data source: coinmarketcap.com

From the start of the month (October 1-15, 2017), the Bitcoin exchange rate increased from $4,341.05 to $5,678.19, and the Ethereum exchange rate from $301.55 to $336.60 (Tables 1.4.a, 1.4.b), with the largest appreciation being seen last week. The largest fluctuations in the daily range (Range) of the Bitcoin and Ethereum exchange rates were $624.91 (on October 12, 2017) and $48.94 (on October 13, 2017), respectively. The price trends are shown in figures 2, 3.

Figure 2, 3. Price trends of Bitcoin and Ethereum

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-23

As can be seen from figures 2 and 3, the appreciation and depreciation of the Bitcoin and Ethereum exchange rates usually coincide, but the growth trend of the Bitcoin exchange rate is higher (equaling 34.4% over the past two weeks, compared to 12.5% for Ethereum).

Table 1.4.c. Daily change in the Bitcoin Cash (BCH) exchange rate, trading volume (Volume 24h) and capitalization, USD (from October 1, 2017, to October 15, 2017)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D%Index, rate to Aug 1, 2017Volume (24h), USD millionMarket cap, USD million
October 15, 2017322.4323.6307.715.9315.097.8%-2.20.831335 385
October 14, 2017321.5327.4317.410.1322.0100.2%0.20.851645 370
October 13, 2017314.2323.1304.418.7321.5102.6%2.60.852885 243
October 12, 2017315.5330.1310.719.4313.299.5%-0.50.822625 262
October 11, 2017320.2321.3312.19.1314.997.9%-2.10.831325 341
October 10, 2017313.2352.0311.740.3321.6102.4%2.40.853685 224
October 9, 2017342.8342.8289.053.7314.291.8%-8.20.832885 716
October 8, 2017360.1362.5337.025.5342.294.9%-5.10.902046 005
October 7, 2017363.6364.9356.18.8360.899.4%-0.60.95916 063
October 6, 2017355.4371.3355.016.3363.0102.0%2.00.961825 927
October 5, 2017358.4371.2348.522.7355.899.2%-0.80.942685 971
October 4, 2017404.2404.5354.649.9358.588.7%-11.30.942526 730
October 3, 2017421.8421.8395.726.1404.296.0%-4.01.061307 022
October 2, 2017415.9430.9411.819.0421.2101.5%1.51.112206 922
October 1, 2017433.4436.9415.221.8415.296.0%-4.01.091647 208

* Data as of October 16, 2017, 00:00 UTC

Data source: coinmarketcap.com

The Bitcoin Cash exchange rate depreciated from $433.40 to $315 (Table 1.4.c) during the analyzed period (October 1-15, 2017), with the largest fluctuation in the daily range equaling $49.90 (October 4, 2017).

The total Bitcoin Cash exchange rate index from August 1, 2017, equaled 0.83 (the rate of $380 at the close of the day on August 1, 2017, was taken as the basis for the calculation), i.e. during the period after the Bitcoin hard fork and the appearance of the new Bitcoin Cash cryptocurrency its exchange rate has fallen by 17%, while the Bitcoin exchange rate has appreciated over the same period by 109%.

The Bitcoin and Ethereum exchange rates from the start of 2017 have increased by a factor of 5.69 and 41.2, respectively (see Tables 1.4.a, 1.4.b).

Despite the bans and restrictions on the circulation of cryptocurrencies in China adopted in September 2017, which resulted in a fall in the exchange rates of most cryptocurrencies, the market again began to show growth in October. This attests to the global scale of circulation of cryptocurrencies and the tremendous growth potential on global markets, regardless of the absence of real security. The following are the main reasons for the positive trend of Bitcoin in particular, and the cryptocurrency market as a whole: the upcoming Bitcoin SegWit2x, the recognition of blockchain technology (including at the government level), the gradual dissemination and validation (recognition) to a certain extent of cryptocurrencies. The possibility of regulating mining, as well as the processes of circulation and issue of cryptocurrencies, is being discussed at the government level in a number of countries. Cryptocurrencies are already being used as a means of payment, the process of registration of operators that exchange them for fiat currencies is underway, cryptocurrency circulation infrastructure is being expanded, and the number of cryptocurrency ATMs and debit Bitcoin cards is increasing.

1.2Market trends

The weekly cryptocurrency and digital asset market trends from July 2, 2017, to October 15, 2017, are presented in the figures below (Fig. 1.1-1.5)*.

Table 1.5. Legends and descriptions of the figures

Global FiguresFigure**Description
Total cryptocurrency market capitalization, USD millionFig. 1.1This figure shows cryptocurrency and digital asset market capitalization trends from July 2, 2017.
The rate of market change (as a % compared to the beginning of the year)Fig. 1.1This figure shows the % change in cryptocurrency and digital asset market capitalization compared to January 1, 2017.
Change in the market capitalization (in USD million compared to the previous period)Fig. 1.2This figure shows the weekly change in USD million (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
The rate of market change (as a % compared to the previous period)Fig. 1.2This figure shows the % of weekly change (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
Number of cryptocurrencies and digital assetsFig.1.3This figure shows the trends in the increase of the number of cryptocurrencies and digital assets circulating on cryptocurrency exchanges. On January 1, 2017, their number was 617, and as of October 15, 2017, this number had already reached 1,097.
Average market capitalization, USD millionFig. 1.3This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from July 2, 2017, i.e. the ratio between the market capitalization of all cryptocurrencies and digital assets and their number.
Forecast of total cryptocurrency market capitalizationFig. 1.4, 1.5This figure shows the time trend (forecast) change in cryptocurrency and digital asset market capitalization.

* Data as of October 16, 2017, 00:00 UTC

** The figures below present average data for 24 hours

Data source: coinmarketcap.com

Figure 1.1. Total cryptocurrency market capitalization**

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1-1

** Average daily data

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to October 15, 2017. Over this period, the market capitalization grew from $94,716 million to $174,167 million, a growth of 884% relative to the start of the year. Over the past week the total market capitalization increased from $150,118 million to $174,167 million (as of October 15, 2017).

Figure 1.2. Change in market capitalization

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1-2

Despite the significant growth in cryptocurrency market capitalization in Q3 2017 and over the entire year to date, the market is susceptible to sudden and drastic fluctuations. Significant drops occurred over the first two weeks of September (September 3-10 and September 11-17, 2017), when the market lost $25,203 million (-15.1%) and $20,817 million (-15%), respectively, and over the week of July 9-16, 2017 (-28%). The highest growth rate in Q3 was 39% (the week of July 16-23, 2017). Over the past week (October 9-15, 2017), the total cryptocurrency market capitalization increased by $24,049 million or 16%.

Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1-3

The total number of cryptocurrencies and digital assets listed on exchanges during the third quarter grew from 881 to 1,102. Their number decreased by five over the past week, to 1,097. At the same time, the average cryptocurrency and digital asset capitalization increased from $136.2 to $158.8 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1-4

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-1-5

In the first week of October (October 2-8, 2017), the market stabilized after the fairly sharp fluctuations (drops) in September, with gradual growth in its capitalization being seen. The second week of October (October 9-15, 2017) brought market growth of 16%. Many experts predict a significant increase in the exchange rates of the main cryptocurrencies by the end of the year. For example, entrepreneur and blockchain enthusiast Trace Mayer believes that the appreciation of the Bitcoin rate to $27,000 is possible. An important factor which will determine the development of the cryptocurrency market in Q4 2017 and over the next year will be the actions of the governments of various countries to regulate the market. According to business consultant and member of the Board of Directors of the blockchain startup CopPay, Ichak Adizes, within five years cryptocurrencies will become legitimate global currencies. Christine Lagarde, the Managing Director of the International Monetary Fund, also believes that the future lies with cryptocurrencies.

We believe that cryptocurrency exchange rates will continue to grow, and the Bitcoin exchange rate, in particular, will exceed $10,000 by the end of the current year. However, the risk of market fluctuations will remain.

  1. General analysis of the ICO market (by week, month).

2.1 Brief overview of the cryptocurrency market, news of the week

  • Slovenia’s Financial Watchdog Warns of Cryptocurrency, ICO ‘Risks’ [source: Сryptocoinsnews]
  • Abu Dhabi Issues Cryptocurrency and ICO Regulations [source: Сryptocoinsnews]
  • Russia Will Block Bitcoin Exchange Websites, Says Central Bank Official [source: Сryptocoinsnews]
  • Challenging China: Taiwan Supports Mainstream Adoption of ICOs and Bitcoin [source: Сointelegraph]
  • Ethereum Developers Find Geth Bug as Hard Fork Nears [source: Сoindesk]
  • No Token Response: UNICEF Is Open to Doing Its Own ICO [source: Сoindesk]
  • Nasdaq CEO: Exchange Is Staying Away from ICOs [source: Сoindesk]

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

A new set of tools is proposed to assess the trends and performance of successfully completed and/or listed ICOs (see Table 2.1).

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

IndicatorDescription
Average collected funds (ACF)Average amount of funds collected per ICO project over the period (month, quarter, 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 (month, quarter, year), i.e. the average reward per $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 (month, quarter, year). This indicator is similar to the previous indicator Average Token Performance (ATP), but is calculated taking into consideration the weight of the indicator. The parameter “average collected funds” (ACF) is used as a weight.
Weighted average monthly reward on ICO funds (WAMRF)Average weighted monthly performance of funds spent on buying tokens over the period (month, quarter, year). This indicator is similar to the previous indicator, Weighted Average Current Reward on ICO Funds (WACRF), but is calculated based on recalculated average monthly performance.

 

Table 2.2. Aggregated trends and performance indicators of past (completed) ICOs4

IndicatorSeptember, 2017October 1-8, 2017

October 9-15,  2017

Total amount of funds collected,

USD million

730.3105.7104.9
Number of companies that completed an ICO145108
Maximum collected, USD million (ICO name)257 (Filecoin)26.5 (Power Ledger)32.7 (Airswap)
Average collected funds, USD million16.210.613.1
Max token reward (ICO name)5.00x (Chainlink)n/an/a
Average token reward (ATR)22.32xn/an/a
Weighted average current reward on funds (WACRF)32.71xn/an/a

Notes:

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

2 The average token reward for ICO projects was calculated as of October 8, 2017. Consequently, the efficiency of contributions or the ratio between the current token price and the token sale price, i.e. the average reward per USD 1 spent on tokens during its token sale, if they are subsequently listed for USD on a cryptocurrency exchange, is $2.32 for projects completed in September 2017. To calculate this ratio, the authors used the data from 45 ICOs completed between September 1 and October 1, 2017. The maximum token reward for the period under review was 5x for the Chainlink ICO (based on the assessment made on October 8, 2017).

3 Weighted average current reward on funds (WACRF) is an indicator similar to Average token reward (ATR), but takes into consideration the amount of funds collected through an ICO (see the Glossary).

4 The data for many ICOs completed after September 1, 2017, is incomplete or non-existent.

The data for the first eight days of October (October 1-8, 2017) were adjusted to account for the appearance of more complete information on completed ICOs. The total amount of funds collected was $105.7 million. The amount collected through ICOs last week (October 9-15, 2017) was nearly the same, and equaled $104.9 million. This total included the results of the eight most successful completed ICOs, among which the highest collected amount was around $32.7 million (Airswap). The average amount of funds collected per project was $13.1 million, which is somewhat less than the same indicator for September as a whole. Please see Table 2.5 for further details on the eight main ICOs over the past week.

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

IndicatorValue 
The number of projects conducting an active ICO as of the current date (October 15, 2017)159
The number of projects planning an ICO as of the current date (October 15, 2017)112
The number of projects planning an ICO between October 16-22, 20179

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

The number of projects conducting active ICOs as of the current date (October 15, 2017) is 159. At present, there is information available on at least 112 planned ICOs to be conducted after October 15, 2017, including 9 ICOs which will start next week.

2.4. Quantitative analysis of the ICO market

    1. Amount of funds collected and number of ICOs

Table 2.4. Amount of funds collected and number of ICOs

MonthCollected, $ millionNumber of ICOs*Average collected, $ million
January4.531.5
February9.751.94
March4.731.57
April127.8177.52
May168.41610.53
June995.23033.17
July461.32915.91
August330.0359.43
September730.34516.23
October 1-8, 2017105.71010.6
October 9-15, 2017104.9813.1

* Information on funds collected is not available for all ICOs (information for last week is tentative and may be adjusted).

Table 2.4 shows that the greatest amount of funds was collected via ICOs in June 2017. In that month, the average collected funds per ICO was $33.17 million.

The data for the past week (October 9-15, 2017) may be adjusted as information on the amounts of funds collected via ICOs is finalized.

Figure 2.1. Trends in the amount of funds collected and number of ICOs since the start of the year

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-1

  1. Top ICOs

Table 2.5. Top 8 ICOs in terms of the amount of funds collected (October 9-15, 2017)

#Name of ICO***Category**Collected, $ millionDate
1AirswapTrading & Investing*32.7October 11, 2017
2DomRaiderPayments31October 11, 2017
3LATokenFinance19.6October 10, 2017
4doc.aiDrugs & Healthcare10.0October 12, 2017
5Ties.NetworkSocial Network6.8October 12, 2017
6bitJobSocial Network2.8October 13, 2017
7AnryzeInfrastructure*1.8October 12, 2017
8EventchainEvents & Entertainment*0.2October 14, 2017
Average collected funds, $13.1
Total collected funds104.9

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories were taken from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum set amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected).

Table 2.5 shows the top 8 ICOs which were successfully completed last week and collected the greatest amounts of funds. In the lead was the Airswap project, which is focused on the creation of a decentralized exchange. The idea behind the project is to directly unite sellers and buyers through smart contracts on the Ethereum blockchain, giving them the maximum possible protection from swindlers and cyberattacks.

Figure 2.2. Top ICOs in terms of the amount of funds collected (October 9-15, 2017)

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-2

 

  1. Top ICOs in their categories

The list of top ICOs for the week includes the following categories of ICO projects.

Table 2.6. Top 10 ICOs in terms of the amount of funds collected, Trading & Investing category

Name of ICOCategory**Collected, $ millionDateToken performance
1Enigma CatalystTrading & Investing45September 11, 20171.06x
2StoxTrading & Investing33.3August 4, 20170.49x
3AirswapTrading & Investing*32.7October 11, 2017n/a
4BlackmooncryptoTrading & Investing30September 13, 20170.83x
50xTrading & Investing24August 16, 20174.07x
6Finshi CapitalTrading & Investing*21.4October 6, 2017n/a
7CoinDashTrading & Investing20August 17, 2017n/a
8openANXTrading & Investing18.8July 4, 20170.56x
9BinanceTrading & Investing15July 3, 2017n/a
10VeritaseumTrading & Investing14May 26, 201714.03x

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories were taken from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

Table 2.6 lists the top 10 ICOs in the Trading & Investing category. All of these projects were performed in 2017. The exchange listing of the Veritaseum ICO can be considered one of the most successful projects. During the Veritaseum ICO project tokens were being sold for $5.644, now their current sale price on the crypto exchange is $79.163, i.e. token performance equals 14.03x. The market capitalization of Veritaseum tokens as of October 16, 2017, had increased to $159,132,654.

Figure 2.3. Top 10 ICOs in terms of the amount of funds collected, Trading & Investing category

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-3

Second and third place in last week’s rating belong to projects from the categories: Payments (the DomRaider ICO, with $31 million collected) and Finance (the LAToken ICO, with $19.6 million collected).

The ratings of the ICO projects in these categories are given below.

Table 2.7. Top 9 ICOs in terms of the amount of funds collected, Payments category

Name of ICOCategoryCollected, $ millionDateToken performance
1TenXPayments64.0June 24, 20172.25x
2MonethaPayments36.6August 31, 20170.55x
3DomRaiderPayments31.0October 11, 2017n/a
4MonacoPayments26.6June 18, 20172.51x
5OmiseGoPayments25.0July 5, 201723.89x
6Centra TechPayments18.5August 25, 20171.14x
7TokenCardPayments12.7May 2, 20171.96x
8PlutusPayments1.0June 30, 20167.52x
9BlockPay pre-ICOPayments0.7September 15, 2016n/a

At present, the Token Performance indicator for all top 9 projects in the Payments category ranges between 0.55x and 23.89x. The exchange listing of the OmiseGo ICO can be considered one of the most successful projects, as this project has a ratio of Current Token Price to Token Sale Price of 23.89x. When considering this indicator, it is important to remember that the OmiseGo ICO ended on July 5, 2017, i.e. the token performance grew 23.89 times over the course of approximately three months.

Figure 2.4. Top 9 ICOs in terms of the amount of funds collected, Payments category

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-4

Table 2.8. Top 10 ICOs in terms of the amount of funds collected, Finance category

Name of ICOCategoryCollected, $ millionDateToken performance
1KyberNetworkFinance48.0September 15, 20173.20x
2PeerBanksFinance42.6September 22, 2017n/a
3PolybiusFinance31.7July 5, 20170.47x
4Bankera Pre-ICOFinance29.6September 19, 2017n/a
5EverexFinance26.5August 31, 2017n/a
6LATokenFinance19.6October 10, 2017n/a
7CoFound.itFinance14.8June 6, 20170.73x
8BitcoinGrowthFundFinance14.5May 17, 2017n/a
9ICOBoxFinance13.7September 15, 2017n/a
10PopulousFinance10.2June 29, 201710.89x

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories were taken from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

Table 2.8 shows the top 10 ICOs in the Finance category. The exchange listing of the Populous ICO can be considered one of the most successful projects, as this project has a ratio of Current Token Price to Token Sale Price of 10.89x.

Figure 2.5. Top 10 ICOs in terms of the amount of funds collected, Finance category

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-5

 

Table 2.9. Top 3 ICOs in terms of the amount of funds collected, Drugs & Healthcare category

Name of ICOCategoryCollected, $ millionDateToken performance
1doc.aiDrugs & Healthcare10October 12, 2017n/a
2PatientoryDrugs & Healthcare7.2June 3, 20172.85x
3EncrypgenDrugs & Healthcare1.1July 18, 2017n/a

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories were taken from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

Table 2.9 shows the top 3 ICOs in the Drugs & Healthcare category. Only the tokens of Patientory are currently being traded on the exchange. The doc.ai ICO, which was completed last week, became the largest in terms of the amount of funds collected ($10 million).

Figure 2.6. Top 3 ICOs in terms of the amount of funds collected, Drugs & Healthcare category

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-6

 

Table 2.10. Top 6 ICOs in terms of the amount of funds collected, Social Network category

Name of ICOCategoryCollected, $ millionDateToken performance
1KinSocial Network98.5September 26, 20170.65x
2Ties.NetworkSocial Network6.8October 12, 2017n/a
3NexusSocial Network6.5September 15, 2017n/a
4MatchpoolSocial Network5.6April 4, 20171.80x
5bitJobSocial Network2.8October 13, 2017n/a
6GolosSocial Network0.5December 3, 20165.45x

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories were taken from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

Table 2.10 shows the top 6 ICOs in the Social Network category. The exchange listing of the Golos ICO can be considered one of the most successful projects in this category, as this project has a ratio of Current Token Price to Token Sale Price of 5.45x.

Figure 2.7. Top 6 ICOs in terms of the amount of funds collected, Social Network category

weekly-cryptocurrency-and-ico-market-analysis-october-9-15-2017-figure-2-7

 

Eight ICO projects were successfully completed over the past week (October 9-15, 2017), each of which collected more than $100,000, with a total amount of funds collected of at least $104.9 million. The week’s leader was the Airswap project ($32.7 million). The total amount of funds collected by the other seven ICOs failed to reach even the $100,000 mark (the information for some projects is still being finalized). Overall, project organizers collected the same amount of funds last week as they did in the first week of October. At least another 9 ICOs are planned to take place next week.

The Glossary is given in Annex 1.

Annex 1 – Glossary

Key termsDefinition
Initial coin offering, ICOA form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings to future holders in the form of blockchain-based cryptocurrencies (tokens) and digital assets.
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 asset 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, i.e. the ratio of market capitalization of a particular cryptocurrency (token) to total cryptocurrency market capitalization. Expressed as a %.
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.
Pre-minedA pre-mined coin. The term is used for cryptocurrencies (tokens) which are issued through mining, and a certain number of coins (tokens) have been created and distributed among certain users at the start of the project.
The rate of market increase (as a % compared to the beginning of the year)The rate of market increase (as a % compared to the start of the year), i.e. by how many % points did market capitalization increase compared to the start of the year.
The growth rate of the market (as a % compared to the beginning of the year)The market growth (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the start of the year.
Increase in market capitalization (in USD million compared to the previous period)Increase in cryptocurrency and digital asset market capitalization (in USD million compared to the previous period), i.e. by how many USD million did market capitalization increase over the period.
The rate of market increase (as a % compared to the previous period)Rate of market increase (as a % compared to the previous period), i.e. by how many % points did market capitalization increase over the period.
The market growth rate (in % compared to previous period)Market growth rate (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the previous period.
Number of cryptocurrencies and digital assetsNumber of cryptocurrencies and digital assets: at the time when this glossary was compiled over 1,070 cryptocurrencies and digital assets were circulating on the market.
Average market capitalizationAverage market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number.
Token reward Performance of funds spent on buying tokens or the 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 indicator 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 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 saleSimilar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying 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 spent his funds more efficiently 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 spent his funds more efficiently on buying tokens than if he were to spend his funds on BTC.
ZAK-n Crypto indexThe index is calculated in percentages and represents a ratio between the 24-hour trade volume (transactions) on cryptocurrency exchanges per day (Volume 24h) for n dominant cryptocurrencies to their total market capitalization.

ZAK-3 Crypto index calculations include three dominant cryptocurrencies: Bitcoin, Ethereum, and Ripple, which at the start of 2017 had the greatest market capitalization.

ZAK-5 Crypto index calculations include the trade volume and market capitalization for five cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash. The index for these five cryptocurrencies with the greatest current market capitalization (as of September 2017) is calculated for the period from August 2017, since Bitcoin Cash only entered the cryptocurrency exchanges in August 2017 as a result of the Bitcoin hard fork.

 


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