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 19, 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 and fourth quarters, with special emphasis on an analysis of the changes that have taken place since the beginning of November 2017, including over the last week (November 13-19, 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, month).

Table 1.1. Trends in the capitalization of the cryptocurrency market and main cryptocurrencies from August 1, 2017, to November 19, 2017

# Parameter 1-Sep-17 1-Oct-17 MoM, % 1-Nov-17 MoM, % 5-Nov-17 DoD, % 12-Nov-17 DoD, % 19-Nov-17 DoD, %
1 Total market capitalization, USD billion 171.64 147.87 -13.85% 182.65 23.52% 199.51 9.23% 200.58 0.54% 233.63 16.47%
2 Altcoin market capitalization, USD billion 95.11 75.91 -20.19% 75.36 -0.72% 76.12 1.01% 95.60 25.59% 104.03 8.82%
Altcoin dominance, % 55.41% 51.34% -7.35% 41.3% -19.63% 38.15% -7.53% 47.7% 24.92% 44.5% -6.57%
3 Bitcoin price, $ 4627.23 4341.05 -6.18% 6441.0 48.37% 7404.52 14.96% 6295.5 -14.98% 7766.0 23.36%
Bitcoin market capitalization, USD billion 76.53 72.05 -5.86% 107.29 48.91% 123.39 15.01% 104.98 -14.92% 129.60 23.45%
Bitcoin dominance, % 44.59% 48.66% 9.13% 58.7% 20.72% 61.85% 5.29% 52.3% -15.37% 55.5% 5.99%
4 Ethereum price, $ 355.64 301.55 -15.21% 305.8 1.40% 300.04 -1.87% 314.7 4.88% 347.4 10.39%
Ethereum market capitalization, USD billion 33.57 28.62 -14.76% 29.18 1.99% 28.66 -1.79% 30.11 5.04% 33.28 10.56%
Ethereum dominance, % 19.56% 19.39% -0.87% 16.0% -17.60% 14.37% -10.09% 15.0% 4.48% 14.2% -5.08%
5 Bitcoin Cash price, $ 588.4 433.38 -26.35% 438.3 1.14% 619.91 41.44% 1346.97 117.28% 1260.95 -6.39%
Bitcoin Cash market capitalization, USD billion 9.74 7.21 -26.00% 7.34 1.87% 10.39 41.52% 22.61 117.64% 21.20 -6.27%
Bitcoin Cash dominance, % 5.7% 4.9% -14.11% 4.0% -17.53% 5.21% 29.56% 11.3% 116.47% 9.1% -19.53%
6 Litecoin price, $ 79.97 55.14 -31.05% 55.74 1.09% 55.03 -1.27% 62.31 13.23% 69.51 11.56%
Litecoin market capitalization, USD billion 4.21 2.93 -30.36% 2.99 1.96% 2.95 -1.18% 3.35 13.45% 3.75 11.77%
Litecoin dominance, % 2.45% 1.98% -19.18% 1.6% -17.35% 1.48% -9.53% 1.7% 12.85% 1.6% -4.04%
7 Smith + Crown Index 10345 9147 -11.58% 12083 32.10% 13771 13.97% 12246 -11.07% 14548 18.80%
8 Volume (24h) 3 crypto, USD million 3757 1566 -58.32% 3492 123.03% 3534 1.20% 18942 435.98% 5617 -70.35%
Market cap 3 crypto, USD million 123740 108240 -12.53% 144186 33.21% 162440 12.66% 157701 -2.92% 184076 16.73%
ZAK-3 Crypto index** 3.04% 1.45% -52.36% 2.4% 67.43% 2.18% -10.17% 12.0% 452.09% 3.1% -74.60%
9 Volume (24h) 5 crypto, USD million 5702 1830 -67.90% 4757 159.92% 3665 -22.95% 19516 432.45% 6054 -68.98%
Market cap 5 crypto, USD million 137216 118380 -13.73% 154518 30.53% 173227 12.11% 169152 -2.35% 196633 16.25%
ZAK-5 Crypto index 4.16% 1.55% -62.80% 3.1% 99.13% 2.12% -31.27% 11.5% 445.28% 3.1% -73.32%

* Data as of November 19, 2017, 00:00 UTC

** After November 2, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-3 index were calculated using the following three dominant cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash.

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

During the period from November 1-19, 2017, total cryptocurrency market capitalization increased from $182.65 billion to $233.63 billion (see Table 1.1). Over the past week (November 13-19, 2017) market capitalization grew by $33 billion, mainly due to Bitcoin, the capitalization of which increased from $104.98 to $129.6 billion, i.e. by $24.6 billion. Altcoin capitalization increased over the week by $8.4 billion (from $95.6 to $104 billion). The growth in altcoin capitalization was driven primarily by the exchange rates of Ethereum, Ripple, Litecoin, NEO, Dash, Monero, IOTA, Ethereum Classic, etc.; the capitalization of nearly all the top ten cryptocurrencies (except Bitcoin Cash) increased.

During the period from November 13-19, the exchange rates of Bitcoin, Ethereum, and Litecoin increased by 23.36%, 10.39%, and 11.56%, respectively. The Bitcoin Cash exchange rate fell by 6.39% over the same period, from $1,346.97 to $1,260.95.

Due to the renewed growth in the Bitcoin exchange rate, the price of which had increased from $6,295.50 to $7,766 by November 19, 2017, Bitcoin dominance increased from 52.3% to 55.5%. The Bitcoin exchange rate exceeded $8,000 for the first time on November 17, 2017.

Since the start of the month, the Bitcoin exchange rate has ranged from $5,519.01 (on November 12, 2017) to $8,101.91 (on November 19, 2017), i.e. the range equals around $2,600 (Table 1.4.a), while over the same period the Bitcoin Cash exchange rate has fluctuated by more than $2,200. The main reasons for the changes in the exchange rates of the leading cryptocurrencies over the week are shown in Table 1.3.

The Smith + Crown Index increased over the past week from 12,246 to 14,548.

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.a, 1.2.b. For example, on November 12, 2017, the 24-hour trading volumes (Volume 24h) for the three dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash) exceeded $18 billion for the first time, reaching $18,942 million (Table 1.2.a). The value of the ZAK-3 Crypto reached a record 12%, which attests to the high liquidity and market dynamism of the dominant cryptocurrencies.

Table 1.2.а. Daily ZAK-3 Crypto index calculation (from November 2, 2017, to November 19, 2017)

Crypto   Bitcoin (BTC) Ethereum (ETH) Bitcoin Cash (BCH) 3 Crypto
  Price Open Volume (24h) Market cap Price Open Price Open Volume (24h) Market cap 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 19, 2017 7766.0 3 149 129 595 347.4 1 182 33 285 1260.95 1 286 21 196 5 617 184 076 3.1%
Nov 18, 2017 7697.2 3 667 128 425 332.0 650 31 801 1197.43 3 054 20 126 7 371 180 352 4.1%
Nov 17, 2017 7853.6 4 652 131 026 330.2 622 31 620 909.16 3 203 15 279 8 477 177 925 4.8%
Nov 16, 2017 7323.2 5 124 122 164 333.4 797 31 927 1202.17 2 035 20 202 7 956 174 293 4.6%
Nov 15, 2017 6634.8 4 201 110 667 338.0 723 32 353 1269.79 1 322 21 336 6 245 164 356 3.8%
Nov 14, 2017 6561.5 3 197 109 434 316.8 1 070 30 317 1346.73 1 698 22 626 5 965 162 378 3.7%
Nov 13, 2017 5938.3 6 263 99 029 307.0 1 042 29 379 1381.82 4 851 23 215 12 156 151 623 8.0%
Nov 12, 2017 6295.5 8 957 104 980 314.7 1 613 30 106 1346.97 8 371 22 614 18 942 157 701 12.0%
Nov 11, 2017 6618.6 4 909 110 362 298.6 842 28 559 1001.64 5 140 16 807 10 891 155 729 7.0%
Nov 10, 2017 7173.7 5 208 119 607 320.7 886 30 665 651.77 5 195 10 933 11 290 161 205 7.0%
Nov 9, 2017 7446.8 3 226 124 146 308.6 893 29 509 622.31 710 10 438 4 830 164 093 2.9%
Nov 8, 2017 7141.4 4 602 119 041 294.3 968 28 129 615.24 838 10 318 6 408 157 487 4.1%
Nov 7, 2017 7023.1 2 326 117 056 298.6 541 28 533 602.68 375 10 105 3 242 155 695 2.1%
Nov 6, 2017 7403.2 3 112 123 379 296.4 579 28 323 630.31 794 10 567 4 485 162 268 2.8%
Nov 5, 2017 7404.5 2 380 123 388 300.0 338 28 662 619.91 816 10 391 3 534 162 440 2.2%
Nov 4, 2017 7164.5 2 484 119 376 305.5 416 29 175 635.35 1 161 10 647 4 062 159 199 2.6%
Nov 3, 2017 7087.5 3 370 118 084 288.5 646 27 547 587.32 1 682 9 840 5 698 155 471 3.7%
Nov 2, 2017 6777.8 4 654 112 910 290.7 905 27 754 527.68 1 632 8 840 7 191 149 504 4.8%

* Data as of November 19, 2017, 00:00 UTC

** After November 2, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-3 index were calculated using the following three dominant cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash

Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the five dominant cryptocurrencies (Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash) reached $6,054 million at the end of the past week (Table 1.2.b), i.e. 3.1% of their market capitalization. The ZAK-3 Crypto and ZAK-5 Crypto indices are considered in more detail in Tables 1.2.a and 1.2.b.

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

Crypto Ripple (XRP) Litecoin (LTC) 5 Crypto
  Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h)

5 crypto

Market cap

5 crypto

ZAK-5 Crypto index
Date $ USD million USD million $ USD million USD million USD million USD million %
Nov 19, 2017 0.2281 194 8 811 69.51 243 3 746 6 054 196 633 3.1%
Nov 18, 2017 0.2265 144 8 750 67.41 174 3 631 7 689 192 733 4.0%
Nov 17, 2017 0.2248 397 8 681 70.45 351 3 794 9 224 190 401 4.8%
Nov 16, 2017 0.2127 1 023 8 213 63.81 418 3 436 9 396 185 942 5.1%
Nov 15, 2017 0.2089 100 8 070 62.78 195 3 379 6 540 175 805 3.7%
Nov 14, 2017 0.2037 127 7 867 61.64 174 3 317 6 266 173 562 3.6%
Nov 13, 2017 0.1975 133 7 609 59.18 237 3 184 12 526 162 415 7.7%
Nov 12, 2017 0.2102 251 8 100 62.31 323 3 351 19 516 169 152 11.5%
Nov 11, 2017 0.2059 135 7 935 59.35 272 3 191 11 298 166 855 6.8%
Nov 10, 2017 0.2183 141 8 410 64.44 292 3 464 11 722 173 079 6.8%
Nov 9, 2017 0.2179 148 8 396 62.49 280 3 358 5 257 175 847 3.0%
Nov 8, 2017 0.2107 157 8 118 61.11 349 3 283 6 914 168 888 4.1%
Nov 7, 2017 0.2051 114 7 903 54.99 403 2 953 3 759 166 551 2.3%
Nov 6, 2017 0.2020 102 7 782 54.76 134 2 940 4 722 172 991 2.7%
Nov 5, 2017 0.2033 47 7 832 55.03 84 2 954 3 665 173 227 2.1%
Nov 4, 2017 0.2081 74 8 018 56.22 84 3 017 4 219 170 233 2.5%
Nov 3, 2017 0.2062 373 7 945 54.58 150 2 928 6 222 166 345 3.7%
Nov 2, 2017 0.1946 198 7 498 53.56 221 2 873 7 610 159 875 4.8%

 

Table 1.3 shows the key events of the week (November 13-19, 2017) having an influence on the exchange rates of the dominant cryptocurrencies and on the cryptocurrency market in general, with an indication of the nature and degree of their impact.

Table 1.3. Key events of the week having an influence on cryptocurrency exchange rates, November 13-19, 2017

Factors and events

(link to source)

Date of news Date of event* Description Nature of impact Degree of impact
1.                     European Financial Watchdog Warns of ICO Risks [source: Bloomberg] November 13, 2017 November 13, 2017 The European Securities and Market Authority officially announced that participation in an ICO is very risky, since this area is not regulated by legislation and participants are left without legal protection. Also, ICOs are often used by swindlers and serve as tools for illegal activity. This is the first statement of the European agency concerning ICOs, and it gives a negative assessment of this instrument. Market

 

 

 

 

Unfavorable

 

2.                     Mastercard Seeks Patent for Instant Blockchain Payments Processing [source: Coindesk] November 14, 2017 November 9, 2017 The filing by Mastercard of this application demonstrates the financial giant’s favorable attitude to blockchain, and shows that major corporations are already developing their own blockchain technology. This is good news for the market in general, as blockchain technology is gaining more widespread recognition. Market Favorable
3.                     Morgan Stanley: Bitcoin is Speculative, and Doesn’t Deserve the Attention It Is Getting [source: CNBC] November 15, 2017 November 15, 2017 The CEO of Morgan Stanley, whose opinion carries a lot of weight in banking circles, has announced that bitcoin does not deserve the attention it is currently getting. BTC Unfavorable
4.                     American Express Joins RippleNet [source: Ripple.com] November 16, 2017 November 16, 2017 Another major financial services company will use Ripple for transfers between the USA and the United Kingdom. Ripple Favorable
5.                     First Atomic Swap Between Bitcoin and Litecoin Performed on Lightning Network [source: Blog.Lightning.Engineering] November 16, 2017 November 16, 2017 The successful implementation of projects involving the upgrade of cryptocurrency infrastructure and the process of cryptocurrency use is having a positive effect on the cryptocurrency markets’ overall position. Market Favorable
6.                     Bitcoin Support Added to South Korean ATMs [source: Bitcoin.com] November 17, 2017 November 17, 2017 Hyosung, a major industrial manufacturer, has added the ability to purchase bitcoins to its ATMs, thereby facilitating the purchase of the cryptocurrency. Bitcoin

 

Favorable

* Event already took place

The high trading volume (Volume 24h) relative to market capitalization contributes to increased volatility and wild price changes on the cryptocurrency market.

Figure 1 shows the relative trends in the Bitcoin and Ethereum exchange rates from the start of November (Fig. 1; Tables 1.4.a and 1.4.b).

Figure 1. Price trends of Bitcoin, Ethereum

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-1

 

As can be seen in Figure 1, during the anticipation of the upcoming Bitcoin hard fork, up to and including November 8, 2017, a growth in this cryptocurrency was seen. However, after the announcement of the cancellation of this event there was a sharp drop in the Bitcoin exchange rate against the backdrop of abrupt changes in the Ethereum exchange rate, and then, after the few days required for the market to stabilize (up to November 15, 2017), the growth in Bitcoin resumed.

For its part, the Ethereum exchange rate has grown from $305 to $347 since the beginning of November.

The price trends of Bitcoin and Bitcoin Cash are shown below (see Tables 1.4.a, 1.4.c; Fig. 2).

Figure 2. Price trends of Bitcoin, Bitcoin Cash

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2

Figure 2 illustrates the struggle for market share taking place between cryptocurrency market veteran Bitcoin and the young cryptocurrency Bitcoin Cash. On some days, the growth in Bitcoin Cash was accompanied by a fall in the Bitcoin exchange rate, and vice versa. This trend could be seen most clearly during the period after the cancellation of the Bitcoin hard fork.

Below is an analysis of the daily changes in the Bitcoin, Bitcoin Cash, and Ethereum exchange rates since the start of the month (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 November 1, 2017, to November 19, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
Nov 19, 2017 7766.03 8101.9 7694.10 407.8 8036.49 103.2% 3,2 8.05 3 149 129 595
Nov 18, 2017 7697.21 7885.0 7463.44 421.6 7790.15 101.1% 1.1 7.80 3 667 128 425
Nov 17, 2017 7853.57 8004.6 7561.09 443.5 7708.99 97.9% -2.1 7.72 4 652 131 026
Nov 16, 2017 7323.24 7967.4 7176.58 790.8 7871.69 107.6% 7.6 7.88 5 124 122 164
Nov 15, 2017 6634.76 7342.3 6634.76 707.5 7315.54 110.2% 10.2 7.33 4 201 110 667
Nov 14, 2017 6561.48 6765.0 6461.75 303.2 6635.75 101.2% 1.2 6.65 3 197 109 434
Nov 13, 2017 5938.25 6811.2 5844.29 966.9 6559.49 110.2% 10.2 6.57 6 263 99 029
Nov 12, 2017 6295.45 6625.1 5519.01 1106.0 5950.07 93.6% -6.4 5.96 8 957 104 980
Nov 11, 2017 6618.61 6873.2 6204.22 668.9 6357.60 96.1% -3.9 6.37 4 909 110 362
Nov 10, 2017 7173.73 7312.0 6436.87 875.1 6618.14 92.6% -7.4 6.63 5 208 119 607
Nov 9, 2017 7446.83 7446.8 7101.52 345.3 7143.58 95.8% -4.2 7.16 3 226 124 146
Nov 8, 2017 7141.38 7776.4 7114.02 662.4 7459.69 104.4% 4.4 7.47 4 602 119 041
Nov 7, 2017 7023.10 7253.3 7023.10 230.2 7144.38 101.7% 1.7 7.16 2 326 117 056
Nov 6, 2017 7403.22 7445.8 7007.31 438.5 7022.76 94.8% -5.2 7.03 3 112 123 379
Nov 5, 2017 7404.52 7617.5 7333.19 284.3 7407.41 100.4% 0.4 7.42 2 380 123 388
Nov 4, 2017 7164.48 7492.9 7031.28 461.6 7379.95 102.4% 2.4 7.39 2 484 119 376
Nov 3, 2017 7087.53 7461.3 7002.94 458.4 7207.76 101.8% 1.8 7.22 3 370 118 084
Nov 2, 2017 6777.77 7367.3 6758.72 608.6 7078.50 104.6% 4.6 7.09 4 654 112 910
Nov 1, 2017 6440.97 6767.3 6377.88 389.4 6767.31 104.6% 4.6 6.78 2 870 107 287

* Data as of November 20, 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 November 1, 2017, to November 19, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
Nov 19, 2017 347.40 371.3 344.74 26.6 354.39 102.0% 2.0 43.38 1 182 33 285
Nov 18, 2017 331.98 349.6 327.69 21.9 347.61 104.6% 4.6 42.55 650 31 801
Nov 17, 2017 330.17 335.0 327.52 7.4 332.39 100.4% 0.4 40.68 622 31 620
Nov 16, 2017 333.44 336.2 323.61 12.6 330.92 99.3% -0.7 40.50 797 31 927
Nov 15, 2017 337.96 340.9 329.81 11.1 333.36 98.7% -1.3 40.80 723 32 353
Nov 14, 2017 316.76 340.2 316.76 23.4 337.63 106.6% 6.6 41.33 1 070 30 317
Nov 13, 2017 307.02 328.4 307.02 21.4 316.72 102.9% 2.9 38.77 1 042 29 379
Nov 12, 2017 314.69 319.2 298.51 20.6 307.91 97.8% -2.2 37.69 1 613 30 106
Nov 11, 2017 298.59 319.5 298.19 21.3 314.68 105.2% 5.2 38.52 842 28 559
Nov 10, 2017 320.67 324.7 294.54 30.2 299.25 93.3% -6.7 36.63 886 30 665
Nov 9, 2017 308.64 329.5 307.06 22.4 320.88 103.8% 3.8 39.28 893 29 509
Nov 8, 2017 294.27 318.7 293.10 25.6 309.07 104.9% 4.9 37.83 968 28 129
Nov 7, 2017 298.57 304.8 290.77 14.1 294.66 98.6% -1.4 36.07 541 28 533
Nov 6, 2017 296.43 305.4 293.72 11.7 298.89 100.9% 0.9 36.58 579 28 323
Nov 5, 2017 300.04 301.4 295.12 6.3 296.26 98.6% -1.4 36.26 338 28 662
Nov 4, 2017 305.48 305.5 295.80 9.7 300.47 98.3% -1.7 36.78 416 29 175
Nov 3, 2017 288.50 308.3 287.69 20.6 305.71 106.4% 6.4 37.42 646 27 547
Nov 2, 2017 290.73 293.9 281.17 12.7 287.43 98.5% -1.5 35.18 905 27 754
Nov 1, 2017 305.76 306.4 290.58 15.8 291.69 95.4% -4.6 35.70 554 29 184

* Data as of November 20, 2017, 00:00 UTC

Data source: coinmarketcap.com

Since the start of November, the Bitcoin exchange rate has appreciated from $6,440.97 to $8,036.49, and the Ethereum exchange rate has increased from $305.76 to $354.39 (Tables 1.4.a and 1.4.b). The largest appreciation in the Bitcoin exchange rate (to $8,101.90) and the Ethereum exchange rate (to $371.30) was recorded on November 19, 2017. The largest fluctuations in the daily range (Range) of the Bitcoin and Ethereum exchange rates were $1,106 (on November 12, 2017) and $30.20 (on November 10, 2017), respectively. Since the start of 2017, the Bitcoin and Ethereum exchange rates have increased by a factor of 8.05 and 43.38, respectively (see Tables 1.4.a, 1.4.b).

The price trends of Bitcoin, Ethereum, and Bitcoin Cash in November 2017 are given in figures 3, 4, and 5.

Figures 3, 4, 5. Price trends of Bitcoin, Ethereum, and Bitcoin Cash

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-3

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-4

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-5

According to the data given in figure 3, a growing sine wave can be seen in the fluctuations of the Bitcoin exchange rate. Approximately a three-day appreciation and depreciation cycle can be seen in the Ethereum exchange rate (Fig. 4). The Bitcoin Cash exchange rate is characterized by possible drastic fluctuations (November 12, 2017). All of this attests to the fact that some market participants are periodically changing their preferences. For example, over the week following the Bitcoin Cash hard fork (which, according to information from bitcoinabc.org, took place on November 13, 2017) there was a sharp depreciation in its exchange rate to $863.98 (on November 16, 2017), with a subsequent stabilization of the exchange rate (as of November 19, 2017) at the level of $1,144-$1,262 (see Table 1.4.c).

Table 1.4.c. Daily change in the Bitcoin Cash (BCH) exchange rate, trading volume (Volume 24h) and capitalization, USD (from November 1, 2017, to November 19, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to Aug 1, 2017 Volume (24h), USD million Market cap, USD million
Nov 19, 2017 1261.0 1262.3 1144.1 118.3 1172.1 93.4% -6.6 3.08 1 286 21 196
Nov 18, 2017 1197.4 1388.1 1197.4 190.7 1254.5 105.8% 5.8 3.30 3 054 20 126
Nov 17, 2017 909.2 1217.4 864.0 353.4 1185.5 131.6% 31.6 3.12 3 203 15 279
Nov 16, 2017 1202.2 1210.4 876.6 333.8 900.8 74.3% -25.7 2.37 2 035 20 202
Nov 15, 2017 1269.8 1326.4 1192.0 134.4 1212.4 95.2% -4.8 3.19 1 322 21 336
Nov 14, 2017 1346.7 1390.2 1211.4 178.8 1273.5 94.1% -5.9 3.35 1 698 22 626
Nov 13, 2017 1381.8 1501.2 1043.0 458.2 1354.0 97.5% -2.5 3.56 4 851 23 215
Nov 12, 2017 1347.0 2477.7 1215.6 1262.1 1388.9 103.6% 3.6 3.65 8 371 22 614
Nov 11, 2017 1001.6 1403.7 910.7 492.9 1340.5 133.1% 33.1 3.53 5 140 16 807
Nov 10, 2017 651.8 1034.8 651.8 383.0 1007.4 154.0% 54.0 2.65 5 195 10 933
Nov 9, 2017 622.3 670.1 619.3 50.9 654.3 105.1% 5.1 1.72 710 10 438
Nov 8, 2017 615.2 646.4 565.6 80.8 622.5 101.0% 1.0 1.64 838 10 318
Nov 7, 2017 602.7 626.2 602.5 23.8 616.3 102.3% 2.3 1.62 375 10 105
Nov 6, 2017 630.3 657.3 602.7 54.7 602.7 95.6% -4.4 1.59 794 10 567
Nov 5, 2017 619.9 635.7 579.1 56.6 630.7 101.7% 1.7 1.66 816 10 391
Nov 4, 2017 635.4 642.1 571.1 70.9 620.5 99.2% -0.8 1.63 1 161 10 647
Nov 3, 2017 587.3 684.5 577.9 106.7 625.3 106.5% 6.5 1.65 1 682 9 840
Nov 2, 2017 527.7 610.4 514.5 95.9 587.2 110.4% 10.4 1.55 1 632 8 840
Nov 1, 2017 438.3 538.3 437.9 100.4 531.8 121.1% 21.1 1.40 1 152 7 342

* Data as of November 20, 2017, 00:00 UTC

Data source: coinmarketcap.com

The overall index of Bitcoin Cash exchange rate change from August 1, 2017, equaled 3.08 (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 208%, with most of this growth taking place since the beginning of November.

The Bitcoin Gold exchange rate increased significantly prior to the launch of the project’s main network (November 12, 2017). Moreover, two growth peaks were seen on November 12, 2017, alone. The exchange rate reached its maximum indicator of $496.61 on November 12, 2017. As of 12:00 UTC on November 20, the exchange rate equaled $130, and total capitalization approximately $21.5 million (see Fig. 6).

Figure 6. Price trends of Bitcoin Gold

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-6

 

Data source: coinmarketcap.com

Table 1.5 gives a list of events, information on which appeared last week, which could impact both the exchange rates of specific cryptocurrencies and the market in general.

Table 1.5. Events that could have an influence on cryptocurrency exchange rates in the future

 

Factors and events

(link to source)

Date of news Date of event* Description Nature of impact Degree of impact
1. CME Group Announces Dates of Launch of Bitcoin Futures  [source: CNBC] November 13, 2017 Second week of December 2017 Company CEO, Terry Duffy, announced the launch date of bitcoin futures. It will take place in the second week of December 2017. This news confirms that bitcoin is taken seriously at the upper level of the financial community, and that major institutional players may take their first steps toward working with it after the launch of the futures. Market

BTC

 

Favorable

 

2. Singapore Central Bank Publishes Details on Ubin Blockchain Initiative [source: Coindesk] November 14, 2017 n/a The support of the Singaporean authorities for blockchain technology has a favorable effect on the entire blockchain community. Market Favorable
3. Nasdaq and Reality Shares Launch Growth Index of Blockchain Companies [source: Businesswire] November 13, 2017 n/a This news confirms the growing interest in the blockchain industry and cryptocurrencies. Market

 

Favorable
4. Twenty Banks Likely to Join Blockchain System for Settlements Between Hong Kong and Singapore [source: Businesstimes] November 17, 2017 Start in 2019 The willingness of major banks to participate in the system for settlements between the two countries shows the potential of blockchain technology. If this project is successful, other countries will also be able to use this technology. Market Favorable

* Event will happen in the future (date, year, n/a – not available)

    1.2 Market trends

The weekly cryptocurrency and digital asset market trends from July 2, 2017, to November 19, 2017, are presented as graphs (Fig. 1.1-1.5)*.

Table 1.6. 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 19, 2017, this number had already reached 1,239.
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 20, 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-november-13-19-2017-figure-1-1

** Average daily data

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to November 19, 2017. Over this period, the market capitalization increased from $94,716 million to $233,808 million, a growth of 1,221% relative to the start of the year. Over the past week the total market capitalization grew from $200,964 million to $233,808 million (as of November 19, 2017). This growth was primarily due to the increase in the market capitalization of Bitcoin by $24.6 billion, as well as a certain amount of growth in the capitalization of altcoins.

Figure 1.2. Change in market capitalization

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-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 were seen during the week of July 9-16, 2017 (-28%), and 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. The highest growth rate in Q3 was 39% (the week of July 16-23, 2017). Over the past week (November 13-19, 2017), total cryptocurrency market capitalization increased by $32,844 million, or 16%.

Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-1-3

The total number of cryptocurrencies and digital assets listed on exchanges has grown since July from 881 to 1,239. Their number increased by 31 over the past week alone, from 1,208 to 1,239. At the same time, the average cryptocurrency and digital asset capitalization increased from $166.4 to $188.7 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-1-4

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-1-5

Over the four weeks of October (October 1-29, 2017) the cryptocurrency market grew from $146,924 million to $170,353 million, and over the following two weeks (October 30-November 12, 2017) it reached $200,964 million. Total market capitalization exceeded $200 billion for the first time on November 3. Last week (November 13-19, 2017) was characterized by market growth of 16%, with growth being seen in all major cryptocurrencies (except Bitcoin Cash). The structure of the cryptocurrency market changed in favor of Bitcoin, the market dominance of which is currently 55.5%.

Many experts predict a further growth in the exchange rates of the main cryptocurrencies, however there is a high risk of related market fluctuations.

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

    2.1 Brief market overview, news of the week

  • Tezos Founders Face Second Class Action Lawsuit Over $232 Million ICO [source: Сryptocoinsnews]
  • Singapore’s Central Bank Issues New Guidelines on ICO Securities Laws [source: Сryptocoinsnews]
  • ICOs Have “Huge Potential” for Investments: Russian Central Bank Official [source: Сryptocoinsnews]
  • More ICO Warnings as EU Issues Two Regulatory Statements [source: Сointelegraph]
  • According to Key European Regulator, ICOs Could be Derivative Activities [source: Сointelegraph]
  • Dutch Regulator: ICO Environment Is a ‘Dangerous Cocktail’ [source: Сoindesk]
  • Wealth Manager Canaccord: ICOs Could Become Commonplace [source: Сoindesk]

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

A 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. Tools to access the market 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

 

November 6-12, 2017

 

November 13-19, 2017

 

Total amount of funds collected, USD million1 330.0 802.9 794.2 97.9 258.9 138.2
Number of companies that completed an ICO1 35 48 68 6 6 13
Maximum collected, USD million (ICO name) 54.6 (Salt) 257.0 (Filecoin) 144.3 (Polkadot) 37 (Ripio) 108.2 (QASH) 46.5 (WAX)
Average collected funds, USD million 9.4 16.7 11.7 16.3 43.2 10.6
Max token reward (ICO name) 22.76 (Neblio) 3.86x (Internxt) 4.9x (Electroneum) 3.16x (Raiden Network) Confido5 (14.56x) n/a
Average token reward (ATR)2 2.28x 1.44x 1.34x 2.04 14.56x n/a
Weighted average current reward on funds (WACRF)3 1.35x 1.10x 1.45x 2 14.56x n/a

Notes:

1 Data source: tokendata.io, icodrops.com, 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 currently be incomplete (for instance, the amount of funds collected).

2 Average token reward for ICO projects was calculated for August-October as of November 8, 2017. Consequently, the performance of purchases 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 the 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 8, 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, are incomplete or non-existent.

5 Maximum token reward on the tokens of the Confido ICO was recorded at the level of 14.56x on November 19, 2017, although just one day later, on November 20, 2017, it equaled only around 4x due to a sharp change in the token price.

The data since November 1, 2017, were adjusted to account for the appearance of more complete information on completed ICOs. The total amount of funds collected was $97.9 million (November 1-5, 2017) and $258.9 million (November 6-12, 2017). The amount collected through ICOs last week (November 13-19, 2017) equaled $138.2 million. This total includes the results of the 13 most successful completed ICOs, with the largest amount collected equaling around $46.5 million (WAX ICO). The average amount of funds collected per project was $10.6 million. More detailed information on last week’s 13 main ICOs is given in Table 2.5.

    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 19, 2017) 221
The number of projects planning an ICO as of the current date (November 19, 2017) 251
The number of projects planning an ICO between November 20-26, 2017 29

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

The number of projects conducting active ICOs as of November 19, 2017, is 221. At present, there is information available on 251 planned ICOs to be conducted after November 19, 2017, including at least 29 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 97.9 6 16.3
November 6-12, 2017 258.9 6 43.2
November 13-19, 2017 138.2 13 10.6

* 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 (November 13-19, 2017) may be adjusted as information on the amounts of funds collected via ICOs is finalized.

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

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2-1

        2. Top ICOs

Table 2.5. Top 13 ICOs in terms of the amount of funds collected (November 13-19, 2017)

# Name of ICO*** Category** Collected, $ million Date
1 Wax Commerce & Advertising* 46.5 November 15, 2017
2 Quantstamp Infrastructure* 31.3 November 19, 2017
3 Oracles Network Infrastructure* 12.7 November 17, 2017
4 Micromoney Payments* 10.5 November 18, 2017
5 B2BX Trading & Investing* 8.1 November 17, 2017
6 Spankchain Commerce & Advertising* 7.2 November 13, 2017
7 Soma Commerce & Advertising* 6 November 15, 2017
8 IndaHash Commerce & Advertising* 4.8 November 14, 2017
9 HydroMiner Mining* 2.9 November 15, 2017
10 Genesis Vision Trading & Investing* 2.8 November 15, 2017
11 Privatix Infrastructure* 2.4 November 16, 2017
12 Matryx Commerce & Advertising* 2 November 15, 2017
13 Publica Commerce & Advertising* 1 November 15, 2017
Total collected funds 138.2
Average collected funds, $ 10.6

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, coinschedule.com and other specialized sources was used. The ICO project categories correspond to the information 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 13 ICOs which were successfully completed last week and collected the greatest amounts of funds. The leader was the Wax project, which is developing a decentralized platform for trading in virtual goods in the online game industry. WAX could become a safe area for the exchange, purchase, and sale of virtual assets for a huge number of game enthusiasts worldwide.

Figure 2.2. Top 13 ICOs in terms of the amount of funds collected (November 13-19, 2017)

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2-2

         3.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, Commerce & Advertising category

 

 

#

Name of ICO Category** Collected, $ million Date Token performance
1 Wax Commerce & Advertising* 46.5 November 15, 2017 n/a
2 Basic Attention Token Commerce & Advertising 35.0 May 31, 2017 4.51x
3 Airtoken Commerce & Advertising 15.0 October 7, 2017 0.70x
4 AdEx Commerce & Advertising 11.4 June 30, 2017 4.18x
5 Spankchain Commerce & Advertising* 7.2 November 13, 2017 n/a
6 Soma Commerce & Advertising* 6 November 15, 2017 n/a
7 IndaHash Commerce & Advertising* 4.8 November 14, 2017 n/a
8 Altocar Commerce & Advertising* 2.3 November 9, 2017 n/a
9 Matryx Commerce & Advertising* 2 November 15, 2017 n/a
10 Publica Commerce & Advertising* 1 November 15, 2017 n/a

* The category was established based on expert opinions.

** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, coinschedule.com and other specialized sources was used. The ICO project categories correspond to the information 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 Commerce & Advertising category. All of these projects were performed in 2017. More than half of them completed their ICO in November 2017, so to date there is no data on the performance of their exchange listing. The Wax project, which completed its ICO last week, is the leader in this category in terms of the amount of funds collected. In second place is the Basic Attention Token project, which collected approximately $35 million through the sale of 1,000,000,000 tokens in 30 seconds at a price of approximately $0.036 per token. The tokens are currently selling on the cryptoexchange for about $0.162. Therefore, token performance equals 4.51x. The total market capitalization of the tokens of Basic Attention Token as of November 19, 2017, was $161.3 million.

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

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2-3

The ratings of ICOs in the Infrastructure & Trading category were presented in previous reports. The ratings of ICOs in the Payments and Mining categories are given below.

Table 2.7. Top 10 ICOs in terms of the amount of funds collected, Payments category

 

#

Name of ICO Category** Collected, $ million Date Token performance
1 TenX Payments 64.0 June 24, 2017 2.07x
2 DomRaider Payments 42.0 October 11, 2017 0.33x
3 Monetha Payments 36.6 August 31, 2017 0.39x
4 Request Network Payments 33.3 October 16, 2017 0.75x
5 Monaco Payments 26.6 June 18, 2017 1.97x
6 OmiseGo Payments 25.0 July 5, 2017 24.43x
7 Centra Tech Payments 18.5 August 25, 2017 0.83x
8 Change Payments* 15.7 October 16, 2017 1.31x
9 TokenCard Payments 12.7 May 2, 2017 2.35x
10 Micromoney Payments* 10.5 November 18, 2017 n/a

* The category was established based on expert opinions.

All projects in the top 10 of the Payments category currently have a token performance indicator ranging from 0.33x to 24.43x. The OmiseGo ICO can be considered one of the most successful exchange listings, as this project has a current token price to token sale price ratio of 24.4x. When considering this indicator, it is important to remember that the OmiseGo ICO was completed on July 5, 2017, i.e. the growth by a factor of 24.43 took place over the course of approximately four months, and the market capitalization of OmiseGo currently exceeds $800 million.

Figure 2.4. Top 10 ICOs in terms of the amount of funds collected, Payments category

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2-4

Table 2.8. Top 3 ICOs in terms of the amount of funds collected, Mining category

# Name of ICO Category** Collected, $ million Date Token performance
1 Giga Watt Mining 20.2 July 31, 2017 1.44x
2 HydroMiner Mining 2.9 November 15, 2017 n/a
3 Easymine Mining* 1.1 October 25, 2017 n/a

* The category was established based on expert opinions.

Table 2.8 shows the top three ICOs in the Mining category. One of the presented projects in this category, the Giga Watt ICO, has already performed its exchange listing. This project has a current token price to token sale price ratio of 1.44x.

Figure 2.5. Top 3 ICOs in terms of the amount of funds collected, Mining category

weekly-cryptocurrency-and-ico-market-analysis-november-13-19-2017-figure-2-5

Over the past period (November 13-19, 2017), 13 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of funds collected of at least $138.2 million. The week’s leader was the Wax project ($46.5 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). At least another 29 ICOs are planned to take place next week.

The Glossary is given in Annex 1.

Annex 1Glossary

 

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 sale 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 coin that 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 the previous period) Market growth rate (as a % compared to the previous period), 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 return Performance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance 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 then it was 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 then it was 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 have spent 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 have spent his funds on BTC.
ZAK-n Crypto index The index is calculated as a percentage and represents a ratio between the 24-hour trading 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 trading 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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