Coinspeaker partnered with ICOBox to provide our readers with this weekly analysis conducted by Professor Dima Kornilov and Dima Zaitsev devoted to cryptocurrency and digital assets markets.

Information as of November 5, 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 October 2017.

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

     1.1 General 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 November 5, 2017.

# Parameter 1-Sep-17 1-Oct-17 MoM, % 1-Nov-17 MoM, % 5-Nov-17 DoD, %
1 Total market capitalization, USD billion 171.64 147.87 -13.85% 182.65 23.52% 199.51 9.23%
2 Altcoin market capitalization, USD billion 95.11 75.91 -20.19% 75.36 -0.72% 76.12 1.01%
Altcoin dominance, % 55.41% 51.34% -7.35% 41.3% -19.63% 38.15% -7.53%
3 Bitcoin price, $ 4 627.23 4 341.05 -6.18% 6 441.0 48.37% 7 404.52 14.96%
Bitcoin market capitalization, USD billion 76.53 72.05 -5.86% 107.29 48.91% 123.39 15.01%
Bitcoin dominance, % 44.59% 48.66% 9.13% 58.7% 20.72% 61.85% 5.29%
4 Ethereum price, $ 355.64 301.55 -15.21% 305.8 1.40% 300.04 -1.87%
Ethereum market capitalization, USD billion 33.57 28.62 -14.76% 29.18 1.99% 28.66 -1.79%
Ethereum dominance, % 19.56% 19.39% -0.87% 16.0% -17.60% 14.37% -10.09%
5 Litecoin price, $ 79.97 55.14 -31.05% 55.74 1.09% 55.03 -1.27%
Litecoin market capitalization, USD billion 4.21 2.93 -30.36% 2.99 1.96% 2.95 -1.18%
Litecoin dominance, % 2.45% 1.98% -19.18% 1.6% -17.35% 1.48% -9.53%
6 Smith + Crown Index 10 345 9 147 -11.58% 12 083 32.10% 13 771 13.97%
7 Volume (24h) 3 crypto, USD million 3 757 1 566 -58.32% 3 492 123.03% 2,765 -20.82%
Market cap 3 crypto, USD million 123 740 108 240 -12.53% 144 186 33.21% 159 882 10.89%
ZAK-3 Crypto index 3.04% 1.45% -52.36% 2.4% 67.43% 1.73% -28.59%
8 Volume (24h) 5 crypto, USD million 5 702 1 830 -67.90% 4 757 159.92% 3 665 -22.95%
Market cap 5 crypto, USD million 137 216 118 380 -13.73% 154 518 30.53% 173 227 12.11%
ZAK-5 Crypto index 4.16% 1.55% -62.80% 3.1% 99.13% 2.12% -31.27%

* Data as of November 5, 2017, 00:00 UTC

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

In October, total cryptocurrency market capitalization increased by 23.52%, from $147.87 to $182.65 billion, and the Bitcoin, Ethereum and Litecoin exchange rates increased by 48.37%, 1.4% and 1.09%, respectively. The market capitalization of the dominant cryptocurrency, Bitcoin, grew from $72.05 to $107.29 billion in October. Therefore, one can conclude that the overall growth in the cryptocurrency market is due primarily to the growth in the exchange rate of Bitcoin, the capitalization of which surpassed $100 billion for the first time on October 20, 2017.

A significant jump in total cryptocurrency market capitalization was seen in the first five days of November (November 1-5, 2017), from $182.65 to $199.51 billion, i.e. by 9.23% (see Table 1.1). On November 3, 2017, total cryptocurrency market capitalization exceeded $200 billion for the first time. During the period from November 1st to November 5th the Bitcoin exchange rate appreciated by 14.96%, while the Ethereum and Litecoin exchange rates depreciated by 1.87% and 1.27%, respectively. Over the first five days of November, the Bitcoin exchange rate increased from $6,441 to $7,404.52.

The cryptocurrency market dominance indicators changed considerably, mainly due to the growth in Bitcoin’s share from 48.66% (on October 1, 2017) to 58.7% (on November 1, 2017). As of November 5, 2017, cryptocurrency dominance figures already equaled 61.85% (Bitcoin), 14.37% (Ethereum), and 1.48% (Litecoin) of total cryptocurrency market capitalization. Altcoin dominance (%) fell to 38.15%.

The Smith + Crown Index in October ranged from 9,147 to 12,083. As of November 5, 2017, the index equaled 13,771.

There were two cryptocurrency hard forks in October: involving Bitcoin (Bitcoin Gold, October 24, 2017) and Ethereum (Byzantium, October 16, 2017), which also impacted the activity of market participants. Another Bitcoin hard fork (Segwit2x), which has been the subject of much controversy, is expected in the middle of this month (tentatively November 15-16). According to CryptoCoins News, “Zimbabwe’s only bitcoin exchange, Golix.io, is readying up for Segwit2x, the second bitcoin fork on November 16, as global prices cross the $7,000 level. In Zimbabwe prices are now near $14,000” (https://www.cryptocoinsnews.com/zimbabwe-bitcoin-exchange-readies-up-for-segwit2x-fork/).

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, 1.3. For example, on November 5, 2017, the 24-hour trading volumes (Volume 24h) for the three dominate cryptocurrencies (Bitcoin, Ethereum, Ripple) equaled $2,765 million (Table 1.2), and for the five dominant cryptocurrencies $3,665 million (Table 1.3). All told, the daily values of the ZAK-3 Crypto and ZAK-5 Crypto indices equaled 1.7% and 2.1% of the market capitalization of the analyzed cryptocurrencies.

Table 1.2. Daily ZAK-3 Crypto index calculation (from October 1, 2017, to November 5, 2017)

Crypto   Bitcoin (BTC) Ethereum (ETH) Ripple (XRP) 3 Crypto
  Price Open BTC Volume (24h) Market cap Price Open ETH Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h) 3 crypto Market cap 3 crypto ZAK-3 Crypto index
Date $ USD million USD million $ USD million USD million $ USD million USD million USD million USD million %
Nov 5, 2017 7404.5 2 380 123 388 300.0 338 28 662 0.2033 47 7 832 2 765 159 882 1.7%
Nov 4, 2017 7164.5 2 484 119 376 305.5 416 29 175 0.2081 74 8 018 2 974 156 569 1.9%
Nov 3, 2017 7087.5 3 370 118 084 288.5 646 27 547 0.2062 373 7 945 4 390 153 577 2.9%
Nov 2, 2017 6777.8 4 654 112 910 290.7 905 27 754 0.1946 198 7 498 5 756 148 162 3.9%
Nov 1, 2017 6441.0 2 870 107 287 305.8 554 29 184 0.2002 68 7 716 3 492 144 186 2.4%
Oct 31, 2017 6132.0 2 311 102 130 307.4 370 29 332 0.2024 44 7 799 2 725 139 260 2.0%
Oct 30, 2017 6114.9 1 772 101 833 304.8 331 29 078 0.2031 35 7 825 2 138 138 735 1.5%
Oct 29, 2017 5754.4 2 859 95 820 296.4 552 28 270 0.2014 63 7 759 3 473 131 849 2.6%
Oct 28, 2017 5787.8 1 404 96 370 297.9 264 28 410 0.2026 27 7 806 1 695 132 586 1.3%
Oct 27, 2017 5899.7 1 710 98 225 296.5 257 28 270 0.2037 30 7 848 1 997 134 343 1.5%
Oct 26, 2017 5748.0 1 905 95 685 298.0 270 28 408 0.2044 38 7 878 2 214 131 971 1.7%
Oct 25, 2017 5524.6 1 967 91 954 298.4 325 28 442 0.2071 75 7 980 2 367 128 377 1.8%
Oct 24, 2017 5935.5 2 736 98 782 287.1 684 27 358 0.1956 220 7 535 3 640 133 675 2.7%
Oct 23, 2017 6006.0 2 402 99 942 295.1 482 28 111 0.2035 100 7 841 2 984 135 894 2.2%
Oct 22, 2017 6036.7 2 035 100 438 300.6 327 28 625 0.2110 76 8 129 2 438 137 191 1.8%
Oct 21, 2017 5996.8 2 207 99 763 303.6 408 28 907 0.2102 117 8 099 2 732 136 769 2.0%
Oct 20, 2017 5708.1 2 354 94 948 308.1 397 29 326 0.2151 183 8 288 2 934 132 562 2.2%
Oct 19, 2017 5583.7 1 781 92 867 314.5 350 29 938 0.2182 305 8 409 2 435 131 214 1.9%
Oct 18, 2017 5603.8 2 399 93 190 316.9 606 30 161 0.2312 354 8 909 3 360 132 260 2.5%
Oct 17, 2017 5741.6 1 822 95 469 333.5 510 31 728 0.2561 411 9 868 2 743 137 065 2.0%
Oct 16, 2017 5687.6 2 008 94 559 336.7 693 32 029 0.2634 963 10 149 3 664 136 737 2.7%
Oct 15, 2017 5836.0 1 976 97 012 339.5 635 32 292 0.2575 280 9 923 2 892 139 227 2.1%
Oct 14, 2017 5643.5 1 669 93 803 338.9 517 32 222 0.2612 211 10 063 2 397 136 088 1.8%
Oct 13, 2017 5464.2 3 615 90 812 304.1 1 304 28 911 0.2483 399 9 584 5 319 129 307 4.1%
Oct 12, 2017 4829.6 2 792 80 257 303.5 528 28 851 0.2650 245 10 231 3 564 119 339 3.0%
Oct 11, 2017 4789.3 1 222 79 578 301.2 264 28 626 0.2607 161 10 062 1 648 118 266 1.4%
Oct 10, 2017 4776.2 1 597 79 352 297.6 360 28 281 0.2528 384 9 758 2 341 117 392 2.0%
Oct 9, 2017 4614.5 1 969 76 657 308.7 559 29 328 0.2788 610 10 759 3 138 116 744 2.7%
Oct 8, 2017 4429.7 1 314 73 575 311.1 293 29 551 0.2383 530 9 198 2 137 112 324 1.9%
Oct 7, 2017 4369.4 907 72 565 308.9 342 29 340 0.2340 78 9 030 1 327 110 936 1.2%
Oct 6, 2017 4324.5 1 070 71 811 295.2 319 28 031 0.2377 167 9 115 1 556 108 957 1.4%
Oct 5, 2017 4229.9 1 162 70 234 292.8 254 27 800 0.2156 404 8 266 1 820 106 300 1.7%
Oct 4, 2017 4319.4 1 117 71 713 292.8 258 27 794 0.2032 124 7 792 1 498 107 299 1.4%
Oct 3, 2017 4408.5 1 288 73 181 297.5 322 28 239 0.2032 49 7 792 1 658 109 212 1.5%
Oct 2, 2017 4395.8 1 432 72 963 302.5 339 28 709 0.2061 77 7 902 1 849 109 573 1.7%
Oct 1, 2017 4341.1 1 208 72 047 301.6 306 28 615 0.1976 51 7 578 1 566 108 240 1.4%

* Data as of November 5, 2017, 00:00 UTC

Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the three dominant cryptocurrencies (Bitcoin, Ethereum, Ripple) reached their highest mark ($5,319 million), i.e. 4.1% of their market capitalization, on October 13, 2017 (Table 1.2). The ZAK-3 Crypto and ZAK-5 Crypto indices are considered in more detail in Tables 1.2 and 1.3. Thanks to their conditional formatting, these tables clearly show the changes that have taken place since the start of October (the maximum amounts of market capitalization for the period are marked in red, and the minimum in green). It follows that Bitcoin and Bitcoin Cash demonstrated the largest change during the period in terms of growth in market capitalization and exchange rates, while the capitalization and exchange rates of the remaining cryptocurrencies did not differ greatly on October 1, 2017, and November 5, 2017.

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

Crypto Litecoin (LTC) Bitcoin Cash (BCH) 5 Crypto
  Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h) Market cap ZAK-5 Crypto index
Date $ USD million USD million $ USD million USD million USD million USD million %
Nov 5, 2017 55.03 84.302 2 954 619.91 816 10 391 3 665 173 227 2.1%
Nov 4, 2017 56.22 83.6331 3 017 635.35 1 161 10 647 4 219 170 233 2.5%
Nov 3, 2017 54.58 150.03 2 928 587.32 1 682 9 840 6 222 166 345 3.7%
Nov 2, 2017 53.56 221.077 2 873 527.68 1 632 8 840 7 610 159 875 4.8%
Nov 1, 2017 55.74 112.759 2 989 438.3 1 152 7 342 4 757 154 518 3.1%
Oct 31, 2017 56.37 99.3811 3 022 449.37 344 7 527 3 168 149 810 2.1%
Oct 30, 2017 56.84 129.287 3 046 458.45 796 7 679 3 064 149 461 2.1%
Oct 29, 2017 54.67 138.34 2 929 420.47 2 002 7 042 5 614 141 820 4.0%
Oct 28, 2017 55.38 71.0632 2 967 369.54 781 6 184 2 547 141 736 1.8%
Oct 27, 2017 55.67 78.9231 2 981 338.3 502 5 656 2 578 142 980 1.8%
Oct 26, 2017 56.47 81.1047 3 023 332.11 235 5 551 2 530 140 545 1.8%
Oct 25, 2017 55.95 114.51 2 995 326.59 152 5 458 2 633 136 829 1.9%
Oct 24, 2017 54.96 199.789 2 941 315.9 267 5 278 4 107 141 894 2.9%
Oct 23, 2017 56.77 177.315 3 037 330.67 192 5 525 3 353 144 456 2.3%
Oct 22, 2017 58.27 96.7814 3 116 323.5 356 5 405 2 890 145 713 2.0%
Oct 21, 2017 60.3 139.503 3 224 326.75 130 5 459 3 001 145 452 2.1%
Oct 20, 2017 59.81 150.542 3 197 330.9 160 5 528 3 245 141 287 2.3%
Oct 19, 2017 60.82 160.943 3 250 339.27 196 5 667 2 791 140 131 2.0%
Oct 18, 2017 59.59 283.869 3 183 373.65 477 6 241 4 121 141 684 2.9%
Oct 17, 2017 64.67 205.363 3 454 313.7 1 008 5 240 3 956 145 758 2.7%
Oct 16, 2017 65.72 200.428 3 509 315.26 118 5 265 3 982 145 511 2.7%
Oct 15, 2017 64.13 453.94 3 423 322.42 133 5 385 3 479 148 035 2.4%
Oct 14, 2017 59.41 313.106 3 170 321.54 164 5 370 2 874 144 627 2.0%
Oct 13, 2017 60.55 357.124 3 230 314.15 288 5 243 5 964 137 780 4.3%
Oct 12, 2017 50.89 341.369 2 714 315.47 262 5 262 4 168 127 315 3.3%
Oct 11, 2017 50.75 57.3901 2 706 320.2 132 5 341 1 837 126 313 1.5%
Oct 10, 2017 50.15 90.4155 2 673 313.22 368 5 224 2 799 125 289 2.2%
Oct 9, 2017 53.08 152.366 2 829 342.76 288 5 716 3 579 125 289 2.9%
Oct 8, 2017 52.49 100.841 2 797 360.09 204 6 005 2 441 121 126 2.0%
Oct 7, 2017 52.14 51.7862 2 777 363.6 91 6 063 1 470 119 776 1.2%
Oct 6, 2017 51.64 59.3559 2 749 355.44 182 5 927 1 797 117 633 1.5%
Oct 5, 2017 51.4 69.5944 2 736 358.42 268 5 971 2 158 115 008 1.9%
Oct 4, 2017 52.28 77.4734 2 782 404.2 252 6 730 1 827 116 811 1.6%
Oct 3, 2017 53.39 88.5161 2 841 421.79 130 7 022 1 877 119 075 1.6%
Oct 2, 2017 54.55 95.4746 2 901 415.87 220 6 922 2 164 119 396 1.8%
Oct 1, 2017 55.14 100.183 2 932 433.38 164 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 highest ZAK-3 Crypto and ZAK-5 Crypto indices are highlighted in pink in Tables 1.2 and 1.3.

The graph below shows the price trends of Bitcoin and Ethereum from the start of October (fig. 1).

Figure 1. Price trends of Bitcoin, Ethereum

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

 

Figure 1 shows the effect on the Ethereum and Bitcoin exchange rates of the hard forks performed on October 16, 2017, and October 24, 2017. During the days leading up to the hard fork, the corresponding cryptocurrency’s exchange rate increased, only to then begin to fall. Ethereum showed the largest and most prolonged fall. At present, the Ethereum exchange rate has nearly returned to its level at the beginning of the October.

The Bitcoin Gold hard fork took place one day before the announced date, on October 24. This hard fork led to the appearance of a new cryptocurrency on the cryptocurrency market, Bitcoin Gold (BTG). It was initially offered for $480, but just one day later its exchange rate had already fallen to $132. As of November 6, 2017, the Bitcoin Gold exchange rate was $165.60.

Right now, the next possible Bitcoin hard fork, Segwit2x, which has plenty of adversaries, is being actively discussed. Previously, in August 2017, a Bitcoin hard fork was performed that led to the appearance of the cryptocurrency Bitcoin Cash (BCH). In this regard, the reciprocal price trends between Bitcoin and Bitcoin Cash against the backdrop of the Bitcoin Gold hard fork is of interest (see fig. 2).

Figure 2. Price trends of Bitcoin and Bitcoin Cash

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

 

Figure 2 illustrates the fairly substantial interest of market participants in Bitcoin and the intermittent demand for the alternative cryptocurrency Bitcoin Cash over the first three weeks of October. A significant growth in both cryptocurrencies began from October 25, 2017. Since the beginning of October, the Bitcoin Cash exchange rate has appreciated by $187, from $433 to $619.90, and the Bitcoin exchange rate has appreciated by more than $3,000, from $4,341.10 to $7,404.50.

The price trends of Bitcoin and Ethereum are shown in figures 3, 4.

Figures 3, 4. Price trends of Bitcoin and Ethereum

monthly-cryptocurrency-and-ico-market-analysis-october-2017-figure-3

monthly-cryptocurrency-and-ico-market-analysis-october-2017-figure-4

Data source: coinmarketcap.com

As can be seen from figures 3 and 4, fairly robust growth in the Bitcoin exchange rate (white bars) and a slight fall in the Ethereum exchange rate (black bars) have been seen since the start of the October. Over the past week there was a daily growth in the Bitcoin exchange rate; however, on November 5, 2017, it stopped (black bar), which could signal a slowing of growth or even a temporary fall (adjustment) in the exchange rate with subsequent growth.

Below is an analysis of the daily changes in the Bitcoin, Ethereum, and Bitcoin Cash exchange rates 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 (from October 1, 2017, to November 5, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
November 5, 2017 7404.52 7617.48 7333.19 284.29 7407.41 100.4% 0.4 7.42 2 380 123 388
November 4, 2017 7164.48 7492.86 7031.28 461.58 7379.95 102.4% 2.4 7.39 2 484 119 376
November 3, 2017 7087.53 7461.29 7002.94 458.35 7207.76 101.8% 1.8 7.22 3 370 118 084
November 2, 2017 6777.77 7367.33 6758.72 608.61 7078.50 104.6% 4.6 7.09 4 654 112 910
November 1, 2017 6440.97 6767.31 6377.88 389.43 6767.31 104.6% 4.6 6.78 2 870 107 287
October 31, 2017 6132.02 6470.43 6103.33 367.10 6468.40 105.5% 5.5 6.48 2 311 102 130
October 30, 2017 6114.85 6214.99 6040.85 174.14 6130.53 99.6% -0.4 6.14 1 772 101 833
October 29, 2017 5754.44 6255.71 5724.58 531.13 6153.85 107.0% 7.0 6.16 2 859 95 820
October 28, 2017 5787.82 5876.72 5689.19 187.53 5753.09 99.5% -0.5 5.76 1 404 96 370
October 27, 2017 5899.74 5988.39 5728.82 259.57 5780.90 97.9% -2.1 5.79 1 710 98 225
October 26, 2017 5747.95 5976.80 5721.22 255.58 5904.83 102.7% 2.7 5.91 1 905 95 685
October 25, 2017 5524.60 5754.33 5397.88 356.45 5750.80 104.1% 4.1 5.76 1 967 91 954
October 24, 2017 5935.52 5935.52 5504.18 431.34 5526.64 93.2% -6.8 5.54 2 736 98 782
October 23, 2017 6006.00 6075.59 5732.47 343.12 5930.32 98.7% -1.3 5.94 2 402 99 942
October 22, 2017 6036.66 6076.26 5792.34 283.92 6008.42 99.6% -0.4 6.02 2 035 100 438
October 21, 2017 5996.79 6194.88 5965.07 229.81 6031.60 100.3% 0.3 6.04 2 207 99 763
October 20, 2017 5708.11 6060.11 5627.23 432.88 6011.45 105.3% 5.3 6.02 2 354 94 948
October 19, 2017 5583.74 5744.35 5531.06 213.29 5708.52 102.1% 2.1 5.72 1 781 92 867
October 18, 2017 5603.82 5603.82 5151.44 452.38 5590.69 99.7% -0.3 5.60 2 399 93 190
October 17, 2017 5741.58 5800.35 5472.72 327.63 5605.51 97.9% -2.1 5.61 1 822 95 469
October 16, 2017 5687.57 5776.23 5544.21 232.02 5725.59 100.8% 0.8 5.74 2 008 94 559
October 15, 2017 5835.96 5852.48 5478.61 373.87 5678.19 97.4% -2.6 5.69 1 976 97 012
October 14, 2017 5643.53 5837.70 5591.64 246.06 5831.79 103.3% 3.3 5.84 1 669 93 803
October 13, 2017 5464.16 5840.30 5436.85 403.45 5647.21 103.7% 3.7 5.66 3 615 90 812
October 12, 2017 4829.58 5446.91 4822.00 624.91 5446.91 112.9% 12.9 5.46 2 792 80 257
October 11, 2017 4789.25 4873.73 4751.63 122.10 4826.48 100.9% 0.9 4.83 1 222 79 578
October 10, 2017 4776.21 4922.17 4765.10 157.07 4781.99 100.2% 0.2 4.79 1 597 79 352
October 9, 2017 4614.52 4878.71 4564.25 314.46 4772.02 103.5% 3.5 4.78 1 969 76 657
October 8, 2017 4429.67 4624.14 4405.64 218.50 4610.48 104.1% 4.1 4.62 1 314 73 575
October 7, 2017 4369.35 4443.88 4321.05 122.83 4426.89 101.3% 1.3 4.43 907 72 565
October 6, 2017 4324.46 4413.27 4320.53 92.74 4370.81 101.0% 1.0 4.38 1 070 71 811
October 5, 2017 4229.88 4362.64 4164.05 198.59 4328.41 102.3% 2.3 4.34 1 162 70 234
October 4, 2017 4319.37 4352.31 4210.42 141.89 4229.36 98.0% -2.0 4.24 1 117 71 713
October 3, 2017 4408.46 4432.47 4258.89 173.58 4317.48 97.9% -2.1 4.32 1 288 73 181
October 2, 2017 4395.81 4470.23 4377.46 92.77 4409.32 100.1% 0.1 4.42 1 432 72 963
October 1, 2017 4341.05 4403.74 4269.81 133.93 4403.74 101.5% 1.5 4.41 1 208 72 047

* Data as of November 5, 2017, 00:00 UTC

Data source: coinmarketcap.com

Since the start of October, the Bitcoin exchange rate has ranged from $4,164.05 (on October 5, 2017) to $7,617.48 (on November 5, 2017), i.e. a change of around $3,500, with the largest daily fluctuation of $624.91 being seen on October 12, 2017.

Through the use of conditional formatting, tables 1.4.a, 1.4.b, and 1.4.c clearly show the range of changes in the indicators. The highest exchange rates of the cryptocurrencies and their maximum daily fluctuation (Range) are shown in red, and their minimum amounts in green.

Table 1.4.b. Daily change in the Ethereum (ETH) exchange rate, trading volume (Volume 24h) and capitalization (from October 1, 2017, to November 5, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume(24h), USD million Market cap, USD million
November 5, 2017 300.04 301.37 295.12 6.25 296.26 98.6% -1.4 36.26 338 28 662
November 4, 2017 305.48 305.48 295.80 9.68 300.47 98.3% -1.7 36.78 416 29 175
November 3, 2017 288.50 308.31 287.69 20.62 305.71 106.4% 6.4 37.42 646 27 547
November 2, 2017 290.73 293.91 281.17 12.74 287.43 98.5% -1.5 35.18 905 27 754
November 1, 2017 305.76 306.40 290.58 15.82 291.69 95.4% -4.6 35.70 554 29 184
October 31, 2017 307.38 310.55 305.88 4.67 305.88 99.4% -0.6 37.44 370 29 332
October 30, 2017 304.78 310.50 304.35 6.15 307.75 100.9% 0.9 37.67 331 29 078
October 29, 2017 296.38 313.75 296.38 17.37 305.09 103.0% 3.0 37.34 552 28 270
October 28, 2017 297.92 300.36 293.58 6.78 296.30 99.6% -0.4 36.27 264 28 410
October 27, 2017 296.51 299.26 294.06 5.20 297.42 100.3% 0.3 36.40 257 28 270
October 26, 2017 298.02 301.07 295.22 5.85 296.53 99.5% -0.5 36.29 270 28 408
October 25, 2017 298.44 301.85 290.72 11.13 297.93 99.9% -0.1 36.47 325 28 442
October 24, 2017 287.12 311.96 282.66 29.30 298.33 104.0% 4.0 36.52 684 27 358
October 23, 2017 295.10 295.75 277.57 18.18 286.95 97.1% -2.9 35.12 482 28 111
October 22, 2017 300.55 305.50 292.81 12.69 295.45 98.4% -1.6 36.16 327 28 625
October 21, 2017 303.57 303.93 291.77 12.16 300.19 98.7% -1.3 36.74 408 28 907
October 20, 2017 308.05 311.44 303.49 7.95 304.01 98.7% -1.3 37.21 397 29 326
October 19, 2017 314.54 316.71 305.83 10.88 308.09 98.0% -2.0 37.71 350 29 938
October 18, 2017 316.94 317.24 290.64 26.60 314.32 99.1% -0.9 38.47 606 30 161
October 17, 2017 333.48 333.48 311.79 21.69 317.08 95.1% -4.9 38.81 510 31 728
October 16, 2017 336.71 349.35 332.04 17.31 333.38 99.0% -1.0 40.81 693 32 029
October 15, 2017 339.53 342.72 320.43 22.29 336.60 99.1% -0.9 41.20 635 32 292
October 14, 2017 338.85 347.98 334.70 13.28 339.63 100.3% 0.3 41.57 517 32 222
October 13, 2017 304.08 348.60 299.66 48.94 338.76 111.4% 11.4 41.46 1 304 28 911
October 12, 2017 303.50 309.15 303.29 5.86 304.14 100.2% 0.2 37.23 528 28 851
October 11, 2017 301.18 304.39 299.10 5.29 303.46 101.2% 1.2 37.14 264 28 626
October 10, 2017 297.60 306.15 293.17 12.98 299.87 100.8% 0.8 36.70 360 28 281
October 9, 2017 308.67 309.31 288.19 21.12 297.39 96.4% -3.6 36.40 559 29 328
October 8, 2017 311.06 312.54 308.03 4.51 308.61 99.2% -0.8 37.77 293 29 551
October 7, 2017 308.89 313.13 304.98 8.15 311.12 100.8% 0.8 38.08 342 29 340
October 6, 2017 295.15 308.84 294.95 13.89 308.59 104.3% 4.3 37.77 319 28 031
October 5, 2017 292.77 298.04 288.84 9.20 295.86 101.1% 1.1 36.21 254 27 800
October 4, 2017 292.75 299.39 290.89 8.50 292.66 100.1% 0.1 35.82 258 27 794
October 3, 2017 297.48 300.11 288.13 11.98 292.46 98.3% -1.7 35.80 322 28 239
October 2, 2017 302.48 302.92 294.58 8.34 297.48 98.4% -1.6 36.41 339 28 709
October 1, 2017 301.55 303.19 295.06 8.13 302.34 100.3% 0.3 37.01 306 28 615

* Data as of November 5, 2017, 00:00 UTC

Data source: coinmarketcap.com

Since the start of October, the Ethereum exchange rate has ranged from $277.57 (on October 23, 2017) to $349.35 (on October 16, 2017), i.e. a change of more than $70. The increase in the exchange rate was connected with expectations for the hard fork. The largest daily fluctuation was $48.94, recorded on October 13, 2017. The Ethereum exchange rate depreciated over the analyzed period from $301.55 to $296.26 (Table 1.4.b).

Since the beginning of 2017, the Bitcoin and Ethereum exchange rates have increased by a factor of 7.42 and 36.26, respectively (see Tables 1.4.a and 1.4.b).

Table 1.4.c. Daily change in the Bitcoin Cash (BCH) exchange rate, trading volume (Volume 24h) and capitalization (from October 1, 2017, to November 5, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to Aug 1, 2017 Volume (24h), USD million Market cap, USD million
November 5, 2017 619.9 635.7 579.1 56.6 630.7 101.7% 1.7 1.66 816 10 391
November 4, 2017 635.4 642.1 571.1 70.9 620.5 99.2% -0.8 1.63 1 161 10 647
November 3, 2017 587.3 684.5 577.9 106.7 625.3 106.5% 6.5 1.65 1 682 9 840
November 2, 2017 527.7 610.4 514.5 95.9 587.2 110.4% 10.4 1.55 1 632 8 840
November 1, 2017 438.3 538.3 437.9 100.4 531.8 121.1% 21.1 1.40 1 152 7 342
October 31, 2017 449.4 454.1 431.8 22.3 439.1 98.0% -2.0 1.16 344 7 527
October 30, 2017 458.5 478.4 417.6 60.8 448.2 99.2% -0.8 1.18 796 7 679
October 29, 2017 420.5 526.1 408.4 117.7 451.9 106.7% 6.7 1.19 2 002 7 042
October 28, 2017 369.5 425.4 369.1 56.4 423.4 115.2% 15.2 1.11 781 6 184
October 27, 2017 338.3 372.8 338.2 34.6 367.6 108.7% 8.7 0.97 502 5 656
October 26, 2017 332.1 350.9 331.2 19.7 338.2 101.8% 1.8 0.89 235 5 551
October 25, 2017 326.6 334.4 320.4 14.0 332.1 101.6% 1.6 0.87 152 5 458
October 24, 2017 315.9 340.5 311.5 29.0 326.9 103.6% 3.6 0.86 267 5 278
October 23, 2017 330.7 332.3 309.9 22.4 315.6 95.2% -4.8 0.83 192 5 525
October 22, 2017 323.5 355.5 323.5 32.0 331.7 102.6% 2.6 0.87 356 5 405
October 21, 2017 326.8 328.5 317.5 11.0 323.4 98.8% -1.2 0.85 130 5 459
October 20, 2017 330.9 333.0 323.1 9.9 327.4 99.0% -1.0 0.86 160 5 528
October 19, 2017 339.3 339.3 326.3 13.0 330.8 97.5% -2.5 0.87 196 5 667
October 18, 2017 373.7 376.2 313.8 62.4 339.2 91.2% -8.8 0.89 477 6 241
October 17, 2017 313.7 395.0 309.6 85.3 371.7 118.5% 18.5 0.98 1 008 5 240
October 16, 2017 315.3 318.0 310.5 7.5 313.6 99.6% -0.4 0.83 118 5 265
October 15, 2017 322.4 323.6 307.7 15.9 315.0 97.8% -2.2 0.83 133 5 385
October 14, 2017 321.5 327.4 317.4 10.1 322.0 100.2% 0.2 0.85 164 5 370
October 13, 2017 314.2 323.1 304.4 18.7 321.5 102.6% 2.6 0.85 288 5 243
October 12, 2017 315.5 330.1 310.7 19.4 313.2 99.5% -0.5 0.82 262 5 262
October 11, 2017 320.2 321.3 312.1 9.1 314.9 97.9% -2.1 0.83 132 5 341
October 10, 2017 313.2 352.0 311.7 40.3 321.6 102.4% 2.4 0.85 368 5 224
October 9, 2017 342.8 342.8 289.0 53.7 314.2 91.8% -8.2 0.83 288 5 716
October 8, 2017 360.1 362.5 337.0 25.5 342.2 94.9% -5.1 0.90 204 6 005
October 7, 2017 363.6 364.9 356.1 8.8 360.8 99.4% -0.6 0.95 91 6 063
October 6, 2017 355.4 371.3 355.0 16.3 363.0 102.0% 2.0 0.96 182 5 927
October 5, 2017 358.4 371.2 348.5 22.7 355.8 99.2% -0.8 0.94 268 5 971
October 4, 2017 404.2 404.5 354.6 49.9 358.5 88.7% -11.3 0.94 252 6 730
October 3, 2017 421.8 421.8 395.7 26.1 404.2 96.0% -4.0 1.06 130 7 022
October 2, 2017 415.9 430.9 411.8 19.0 421.2 101.5% 1.5 1.11 220 6 922
October 1, 2017 433.4 436.9 415.2 21.8 415.2 96.0% -4.0 1.09 164 7 208

* Data as of November 5, 2017, 00:00 UTC

Data source: coinmarketcap.com

The Bitcoin Cash exchange rate appreciated from $433.40 to $630.70 (Table 1.4.c) during the analyzed period (October 1-November 5, 2017), with the largest fluctuation in the daily range equaling $117.72 on October 29, 2017. The maximum exchange rate was $684.53 (on November 3, 2017), and the minimum exchange rate was $289.04 (on October 9, 2017).

The total Bitcoin Cash exchange rate index from August 1, 2017, equaled 1.66 (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 increased by 66%, while the Bitcoin exchange rate has appreciated over the same period by 173%.

Market trends

The weekly cryptocurrency and digital asset market trends from July 2, 2017, to November 5, 2017, are presented as graphs (Fig. 1.1-1.5)*.

Table 1.5. Legends and descriptions of the figures

Global Figures Figure** Description
Total cryptocurrency market capitalization, USD million Fig. 1.1 This 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. 1.1 This 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. 1.2 This 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. 1.2 This 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 assets Fig.1.3 This 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 November 5, 2017, this number had already reached 1,170.
Average market capitalization, USD million Fig. 1.3 This 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 capitalization Fig. 1.4, 1.5 This figure shows the time trend (forecast) change in cryptocurrency and digital asset market capitalization.

* Data as of November 6, 2017, 00:00 UTC

** The figures below present average data for 24 hours

Data source: coinmarketcap.com

Figure 1.1. Total cryptocurrency market capitalization**

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

** Average daily data

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to November 5, 2017. Over this period, market capitalization grew from $94,716 million to $199,892 million, a growth of 1,029% relative to the start of the year. The total market capitalization increased considerably over the past week from $170,353 million to $199,892 million (as of November 5, 2017). In addition, on November 3rd the threshold of $200 billion was surpassed for the first time, with total market capitalization reaching $201.5 billion.

Figure 1.2. Change in market capitalization

monthly-cryptocurrency-and-ico-market-analysis-october-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. In the third quarter these fluctuations ranged from-28% to +39% per week (fig. 1.2). Since the start of the fourth quarter, the range of fluctuations has narrowed, with market capitalization changing from -2% to +17% per week (fig. 1.2), which signifies the increased stability and partial formation of the structure of the market. 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 30-November 5, 2017), total cryptocurrency market capitalization increased by $29,539 million or 17%.

Figure 1.3. Number of cryptocurrencies and digital assets

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

The total number of cryptocurrencies and digital assets listed on exchanges has grown since July from 881 to 1,170. Last week their number was adjusted, and decreased by 13. At the same time, the average cryptocurrency and digital asset capitalization increased from $144 to $170.8 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

monthly-cryptocurrency-and-ico-market-analysis-october-2017-figure-1-4

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

Since mid-September a stable growth trend in cryptocurrency market capitalization has been seen. In the second week of October (October 9-15, 2017), the market was characterized by market growth of 16%. In the third and fourth weeks of October (October 16-22 and October 23-29, 2017) total market capitalization dropped slightly by -2% and -1%, respectively, and last week (October 30-November 5, 2017) was marked by a significant growth of 17%. A slight market adjustment is possible, as the growth is due, for the most part, to the dominant cryptocurrency, Bitcoin (the increase in Bitcoin’s capitalization over the week equaled $27.6 billion). The gradual waning of the “growing bull” is being seen. Some market participants may conclude that the Bitcoin exchange rate has already reached its peak for the short term, and that it is becoming expedient to sell their digital assets (in particular, Bitcoin, the market dominance of which has grown to 61.85%) and temporarily withdraw their funds or transfer them into other cryptocurrencies (including those at the ICO stage).

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

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

  • Bitcoin Sets New Record as Price Tops $7,000 [source: Сoindesk]
  • India’s Largest Bank Goes Big on Blockchain [source: Сryptocoinsnews]
  • Samsung Creates Bitcoin Mining Rig With 40 Used Galaxy S5 Phones [source: Сryptocoinsnews]
  • Bitcoin Exchange Coinbase adds 100,000 users in 24 hrs., Shows Surging Interest in Crypto [source: Сointelegraph]
  • All Tokens or Cryptocurrencies are Securities, Says New Zealand’s Financial Regulator [source: Сryptocoinsnews]
  • Ban All Crypto ‘Dealers’, India Committee Reportedly Tells Government [source: Сointelegraph]
  • Vietnam Bans Bitcoin Payments, Global Markets Unfazed [source: Сointelegraph]

    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

Indicator Description
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

Indicator August

2017

September

2017

October

2017

November 1-5, 2017

 

Total amount of funds collected, USD million1 330.0 802.9 794.2 47.7
Number of companies that completed an ICO1 35 48 68 4
Maximum collected, USD million (ICO name) 54.6 (Salt) 257.0 (Filecoin) 144.3 (Polkadot) 31.9 (Raiden Network)
Average collected funds, USD million 9.4 16.7 11.7 11.9
Max token reward (ICO name) 22.76 (Neblio) 3.86x (Internxt) 4.9x (Electroneum) n/a
Average token reward (ATR)2 2.28x 1.44x 1.34x n/a
Weighted average current reward on funds (WACRF)3 1.35x 1.10x 1.45x n/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 November 5, 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 $1.34 for projects completed in October 2017. To calculate this ratio, the authors used the data from 68 ICOs completed between October 1 and November 1, 2017. The maximum token reward for the period under review was 4.9x for the Electroneum ICO (based on the assessment made on November 5, 2017).

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

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

The data for October 2017 were adjusted to account for the appearance of more comprehensive information on completed ICOs. The total amount of funds collected was $794.2 million. This total included the results of 68 successfully completed ICOs, with the highest collected amount equaling around $144.3 million (Polkadot ICO). The average amount of funds collected per project was $11.7 million, which is somewhat less than the same indicator for October as a whole. The amount of funds collected through ICOs during September and October 2017 was practically identical, and was considerably higher than the same indicator for August 2017 ($330 million). Table 2.5 gives more in-depth details on the largest ICOs in October.

    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 Value
The number of projects conducting an active ICO as of the current date (November 5, 2017) 238
The number of projects planning an ICO as of the current date (November 5, 2017) 285
The number of projects planning an ICO between November 6-12, 2017 г. 21

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

The number of projects conducting active ICOs as of the current date (November 5, 2017) is 238. At present, there is information available on 285 planned ICOs to be conducted after November 5, 2017, including at least 21 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

Month Collected, $ million Number of ICOs* Average collected, $ million
January 4.5 3 1.5
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 330.0 35 9.43
September 730.3 45 16.23
October 794.2 68 11.7
November 1-5, 2017 47.7 4 11.9

* 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 from the start of November (November 1-5, 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

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

        2.Top ICOs

Table 2.5. Top four ICOs in terms of the amount of funds collected (November 1-5, 2017)

# Name of ICO*** Category** Collected, $ million Date
1 Raiden Network Infrastructure* 31.9 November 1, 2017
2 Cartaxi Transport* 8.7 November 1, 2017
3 Debit Coin Payments* 5.4 November 1, 2017
4 Crypto Tickets Art & Music* 1.7 November 5, 2017
Total collected funds 47.7
Average collected funds, $ 11.9

* 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 four ICOs which were successfully completed since the start of the month and collected the greatest amounts of funds. In the lead was the Raiden Network, which is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. It’s complementary to the Ethereum blockchain and works with any ERC20 compatible token.

Figure 2.2. Top four ICOs in terms of the amount of funds collected (November 1-5, 2017)

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

        3.Top ICOs in their categories

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

Table 2.6. Top 10 ICOs in terms of the amount of funds collected, Infrastructure category

Name of ICO Category** Collected, $ million Date Token performance
1 Tezos Infrastructure 232.3 July 13, 2017 n/a
2 EOS Stage 1 Infrastructure 185 July 1, 2017 n/a
3 The DAO Infrastructure 168 May 28, 2016 n/a
4 Bancor Infrastructure 153 June 12, 2017 0.48x
5 Polkadot Infrastructure* 144.3 October 27, 2017 n/a
6 Kin Infrastructure 97 September 26, 2017 0.44x
7 Status Infrastructure 90 June 20, 2017 0.87x
8 ICON Infrastructure 42.8 September 20, 2017 n/a
9 Sonm Infrastructure 42 June 17, 2017 0.74x
10 Electroneum Infrastructure 40 October 20, 2017 4.9х

* 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 Infrastructure category. Nearly all of these projects were performed in 2017. The Tezos project, which offered an intelligent system for creating safe smart contracts and completed its ICO on July 13, 2017, can be considered the largest in this category. However, disagreements later arose among the project founders. Also, a class action lawsuit alleging the sale of unregistered securities, false advertising and unfair competition was filed in California against the founders and promoters of the Tezos project.

The exchange listing of the Electroneum ICO can be considered one of the most successful projects, as this project has a Current Token Price to Token Sale Price ratio of 4.9x (as of November 4, 2017). When considering this indicator, it is important to remember that the Electroneum ICO ended on October 20, 2017, i.e. the token performance grew 4.9 times over the course of less than two weeks. During the ICO tokens were sold for $0.01, but by the time of their exchange listing in early November 2017 their price had grown sharply to $0.23, i.e. by 23 times. At the time of this analysis (November 4, 2017), the token price equaled $0.049.

Last week’s leader was the Polkadot project, which collected $144.3 million. This project was considered in the previous report.

Table 2.7 shows the ten largest ICOs performed during October 2017.

Table 2.7. Top 10 ICOs in terms of the amount of funds collected during October 2017

# Name of ICO Category Collected, USD million Date
1 Polkadot Infrastructure* 144.3 October 2017
2 DomRaider Payments 42 October 2017
3 Electroneum Infrastructure 40 October 2017
4 AirSwap Trading & Investing* 36.3 October 2017
5 Ether Party Infrastructure* 33.5 October 2017
6 Request Network Payments* 33.3 October 2017
7 Unikoingold Gambling & Betting* 32.3 October 2017
8 Ambrosus Supply & Logistics* 32.2 October 2017
9 Streamr Data Storage* 32 October 2017
10 Power Ledger Energy & Utilities 26.4 October 2017

* The category was established based on expert opinions.

The three leaders were projects from the Infrastructure and Payments categories. These categories traditionally have some of the most successful ICOs by amount of funds collected.

Four ICO projects have been successfully completed since the start of November (November 1-5, 2017), each of which collected more than $100,000, with a total amount of funds collected of at least $47.7 million. The amount of funds collected during October 2017 equaled $794.2 million. This amount includes the 68 projects considered. The week’s leader was the Polkadot project (more than $144 million). The total amount of funds collected by a number of ICOs failed to reach even the $100,000 mark (the information for some projects is still being finalized). Overall, the amount of funds collected over the past month was at the same level as in September 2017. At least another 21 ICOs are planned for next week.

The Glossary is given in Annex 1.

Annex 1 – Glossary

Key terms Definition
Initial coin offering, ICO A 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 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 asset 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, 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-mined A 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 (as a % 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 assets Number 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 capitalization Average 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 sale Alternative 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 sale Similar 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 index The 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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