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

Information as of November 26, 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 20-26, 2017).

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

    1.1 General 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 26, 2017

#Parameter1-Oct-171-Nov-17MoM, %5-Nov-17DoD, %12-Nov-17DoD, %19-Nov-17DoD, %26-Nov-17DoD, %
1Total market capitalization, USD billion147.87182.65 23.52%199.519.23%200.580.54%233.6316.47%281.2920.40%
2Altcoin market capitalization, USD billion75.9175.36-0.72%76.121.01%95.6025.59%104.038.82%134.5029.29%
Altcoin dominance, %51.34%41.3%-19.63%38.15%-7.53%47.7%24.92%44.5%-6.57%47.8%7.38%
3Bitcoin price, $4341.056441.048.37%7404.5214.96%6295.5-14.98%7766.023.36%8789.013.17%
Bitcoin market capitalization, USD billion72.05107.2948.91%123.3915.01%104.98-14.92%129.6023.45%146.7913.27%
Bitcoin dominance, %48.66%58.7%20.72%61.85%5.29%52.3%-15.37%55.5%5.99%52.2%-5.93%
4Ethereum price, $301.55305.81.40%300.04-1.87%314.74.88%347.410.39%466.034.13%
Ethereum market capitalization, USD billion28.6229.181.99%28.66-1.79%30.115.04%33.2810.56%44.7134.33%
Ethereum dominance, %19.39%16.0%-17.60%14.37%-10.09%15.0%4.48%14.2%-5.08%15.9%11.57%
5Bitcoin Cash price, $433.38438.31.14%619.9141.44%1346.97117.28%1260.95-6.39%1571.3924.62%
Bitcoin Cash market capitalization, USD billion7.217.341.87%10.3941.52%22.61117.64%21.20-6.27%26.4324.71%
Bitcoin Cash dominance, %4.9%4.0%-17.53%5.21%29.56%11.3%116.47%9.1%-19.53%9.4%3.58%
6Litecoin price, $55.1455.741.09%55.03-1.27%62.3113.23%69.5111.56%88.9427.95%
Litecoin market capitalization, USD billion2.932.991.96%2.95-1.18%3.3513.45%3.7511.77%4.8028.20%
Litecoin dominance, %1.98%1.6%-17.35%1.48%-9.53%1.7%12.85%1.6%-4.04%1.7%6.47%
7Smith + Crown Index91471208332.10%1377113.97%12246-11.07%1454818.80%1700416.88%
8Volume (24h) 3 crypto, USD billion1.63.5123.03%3.51.20%18.9435.98%5.6-70.35%8.347.17%
Market cap 3 crypto, USD billion108.2144.233.21%162.412.66%157.7-2.92%184.116.73%217.918.39%
ZAK-3 Crypto index1.45%2.4%67.43%2.18%-10.17%12.0%452.09%3.1%-74.60%3.8%24.31%
9Volume (24h) 6 crypto, USD billion4.83.7-22.91%20.0439.40%6.1-69.31%8.945.08%
Market cap 6 crypto, USD billion156.6175.311.93%171.8-2.01%200.116.49%237.518.64%
ZAK-6 Crypto index***3.1%2.11%-31.13%11.6%450.46%3.1%-73.65%3.7%22.28%

* Data as of November 26, 2017, 00:00 UTC

** Up to November 1, 2017, inclusive, the amount of the ZAK-3 index was calculated using the three dominant cryptocurrencies: Bitcoin, Ethereum, and Ripple. After November 2, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-3 index were calculated using the cryptocurrencies Bitcoin, Ethereum, and Bitcoin Cash.

*** The ZAK-6 index was calculated using the cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, and Dash.

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

During the period from November 1-26, 2017, total cryptocurrency market capitalization increased by $100 billion, from $182.65 billion to $281.29 billion (as of November 26, 2017, 00:00 UTC, see Table 1.1). Over the past week (November 20-26, 2017), market capitalization increased by approximately $48 billion. Bitcoin alone accounted for $17.2 billion of this increase, as its capitalization increased from $129.6 billion to $146.79 billion. Altcoin capitalization increased over the week by $30.5 billion (from $104 billion to $134.5 billion). The growth in altcoin capitalization was driven primarily by the exchange rates of Ethereum, Bitcoin Cash, Bitcoin Gold, Ripple, Litecoin, Dash, Monero, Ethereum Classic, etc.; the capitalization of nearly all the top ten cryptocurrencies (except IOTA and NEO) increased.

During the period from November 20-26, the exchange rates of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin increased by 13.17%, 34.13%, 24.62%, and 27.95%, respectively.

The Bitcoin exchange rate continued to grow last week, increasing during this period from $7,766 to $8,789, and by the end of the week had even exceeded $9,500. However, its market dominance fell from 55.5% to 52.2%, with Altcoins playing a major role in this. In particular, the capitalization of Ethereum and Bitcoin Cash increased significantly, by $11 billion and $5 billion, respectively (see Table 1.1).

Over the past week, the structure of market dominance of the top seven cryptocurrencies by capitalization changed, with Dash and Litecoin sliding to sixth and seventh place, and Bitcoin Gold taking over fifth place with a total capitalization of more than $6.1 billion (see the figure below).

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-0

Data source: coinmarketcap.com

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-0-1

     Dominance on November 25, 2017                           Dominance on November 27, 2017

 

This cryptocurrency confidently entered the top five in terms of capitalization, meaning that the Bitcoin hard fork on October 24, 2017, which led to the appearance of Bitcoin Gold, can be considered a complete success.

The latest Bitcoin hard fork, performed by a team of anonymous developers on November 23, 2017, came as somewhat of a surprise for many. It resulted in the appearance on the cryptocurrency market of Bitcoin Diamond, which, according to its creators, has already been supported by 28 cryptoexchanges and several crypto wallets (http://www.btcd.io/index.html#exchanges). The distinguishing features of the new cryptocurrency are its enhanced privacy protection, faster transaction confirmation, and lower transaction and participation fees. That being said, the maximum supply (Max Supply) of the Bitcoin Diamond issue is 10 times larger than those of the previous Bitcoin clones, and equals 210,000,000 BCD, and the maximum block size has been increased to 8 MB (the same as Bitcoin Gold). However, many experts have expressed doubts about the safety of using the provided web wallets. For example, one expert noted: “What is troubling about this project is that the platform does not specify its own single wallet, but instead offers links to several web wallets” https://bits.media/news/ot-bitkoina-otdelilsya-ocherednoy-dragotsennyy-fork-bitcoin-diamond/. Since November 24, 2017, the Bitcoin Diamond exchange rate has fluctuated from $61 to $103, and currently stands at $66-68 (on November 26, 2017).

The main reasons for the changes in the exchange rates of the leading cryptocurrencies during the week are given in Table 1.3.

The Smith + Crown Index increased considerably over the past week from 14,548 to 17,004.

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-6 Crypto indices are presented in Tables 1.1, 1.2.a, and 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 extremely 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 26, 2017)

Crypto Bitcoin (BTC)Ethereum (ETH)Bitcoin Cash (BCH)3 Crypto
 Price OpenVolume (24h)Market capPrice OpenPrice OpenVolume (24h)Market capVolume (24h)Market capVolume (24h) 3 cryptoMarket cap 3 cryptoZAK-3 Crypto index
Date$USD millionUSD million$$USD millionUSD millionUSD millionUSD millionUSD millionUSD million%
Nov 26, 20178789.05 476146 789466.01 19844 7121571.391 59326 4358 266217 9363.8%
Nov 25, 20178241.74 342137 632475.71 42245 63316341 56027 4857 324210 7503.5%
Nov 24, 20178074.05 059134 816412.52 29339 5641651.863 12927 78210 480202 1635.2%
Nov 23, 20178232.44 225137 444381.41 84636 5771302.234 11221 89910 183195 9215.2%
Nov 22, 20178078.03 634134 851360.380134 5441175.061 51819 7595 952189 1543.1%
Nov 21, 20178205.74 278136 967367.495035 2201220.7877320 5256 000192 7123.1%
Nov 20, 20178039.13 488134 167354.180733 9331172.4380019 7105 096187 8112.7%
Nov 19, 20177766.03 149129 595347.41 18233 2851260.951 28621 1965 617184 0763.1%
Nov 18, 20177697.23 667128 425332.065031 8011197.433 05420 1267 371180 3524.1%
Nov 17, 20177853.64 652131 026330.262231 620909.163 20315 2798 477177 9254.8%
Nov 16, 20177323.25 124122 164333.479731 9271202.172 03520 2027 956174 2934.6%
Nov 15, 20176634.84 201110 667338.072332 3531269.791 32221 3366 245164 3563.8%
Nov 14, 20176561.53 197109 434316.81 07030 3171346.731 69822 6265 965162 3783.7%
Nov 13, 20175938.36 26399 029307.01 04229 3791381.824 85123 21512 156151 6238.0%
Nov 12, 20176295.58 957104 980314.71 61330 1061346.978 37122 61418 942157 70112.0%
Nov 11, 20176618.64 909110 362298.684228 5591001.645 14016 80710 891155 7297.0%
Nov 10, 20177173.75 208119 607320.788630 665651.775 19510 93311 290161 2057.0%
Nov 9, 20177446.83 226124 146308.689329 509622.3171010 4384 830164 0932.9%
Nov 8, 20177141.44 602119 041294.396828 129615.2483810 3186 408157 4874.1%
Nov 7, 20177023.12 326117 056298.654128 533602.6837510 1053 242155 6952.1%
Nov 6, 20177403.23 112123 379296.457928 323630.3179410 5674 485162 2682.8%
Nov 5, 20177404.52 380123 388300.033828 662619.9181610 3913 534162 4402.2%
Nov 4, 20177164.52 484119 376305.541629 175635.351 16110 6474 062159 1992.6%
Nov 3, 20177087.53 370118 084288.564627 547587.321 6829 8405 698155 4713.7%
Nov 2, 20176777.84 654112 910290.790527 754527.681 6328 8407 191149 5044.8%

* Data as of November 27, 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 (the index was previously calculated using Bitcoin, Ethereum, and Ripple).
Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the six dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, and Dash) reached $8,903 million at the end of the past week (Table 1.2.b), i.e. 3.7% of their market capitalization. The ZAK-3 Crypto and ZAK-6 Crypto indices are considered in more detail in Tables 1.2.a and 1.2.b.

 Table 1.2.b. Daily ZAK-6 Crypto index calculation (continuation of Table 1.2.а)

CryptoRipple (XRP)Dash (DASH)Litecoin (LTC)6 Crypto

 

 Price OpenVolume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h)Market capZAK-6 Crypto index
Date$USD millionUSD million$USD millionUSD million$USD millionUSD millionUSD millionUSD million%
Nov 26, 20170.25291339 768641.461464 94688.943574 8028 903237 4523.7%
Nov 25, 20170.24422139 431566.962434 37077.914884 2058 267228 7573.6%
Nov 24, 20170.24292119 380564.341294 34973.142873 94711 108219 8385.1%
Nov 23, 20170.23902419 231577.251744 44771.983153 88310 913213 4825.1%
Nov 22, 20170.23261678 985494.763823 81170.181583 7856 659205 7353.2%
Nov 21, 20170.23802189 191500.242453 85272.22323 8936 695209 6493.2%
Nov 20, 20170.23132158 935442.031053 40371.411893 8495 604203 9982.7%
Nov 19, 20170.22811948 811455.36833 50569.512433 7466 137200 1383.1%
Nov 18, 20170.22651448 750424.351453 26567.411743 6317 834195 9984.0%
Nov 17, 20170.22483978 681420.59953 23670.453513 7949 320193 6364.8%
Nov 16, 20170.21271 0238 213424.51973 26563.814183 4369 494189 2075.0%
Nov 15, 20170.20891008 070428.081033 29162.781953 3796 643179 0963.7%
Nov 14, 20170.20371277 867428.311243 29261.641743 3176 390176 8543.6%
Nov 13, 20170.19751337 609507.053113 89759.182373 18412 837166 3127.7%
Nov 12, 20170.21022518 100345.684762 65662.313233 35119 992171 80811.6%
Nov 11, 20170.20591357 935331.43892 54659.352723 19111 386169 4016.7%
Nov 10, 20170.21831418 410325.271162 49864.442923 46411 839175 5766.7%
Nov 9, 20170.21791488 396315.481112 42262.492803 3585 368178 2693.0%
Nov 8, 20170.21071578 118293.041042 24961.113493 2837 018171 1374.1%
Nov 7, 20170.20511147 903274.87922 10954.994032 9533 852168 6602.3%
Nov 6, 20170.20201027 782273.47602 09854.761342 9404 782175 0892.7%
Nov 5, 20170.2033477 832274.33412 10455.03842 9543 706175 3312.1%
Nov 4, 20170.2081748 018278.58492 13656.22843 0174 269172 3692.5%
Nov 3, 20170.20623737 945263.89632 02154.581502 9286 285168 3663.7%
Nov 2, 20170.19461987 498271.79722 08153.562212 8737 682161 9564.7%

Table 1.3 shows the key events of the week (November 20-26, 2017) having an influence on the exchange rates of the dominant cryptocurrencies and on the cryptocurrency market in general, with an indication of their nature and type of impact.

Table 1.3. Key events of the week having an influence on cryptocurrency exchange rates, November 20-26, 2017

Factors and events (link to source)

Date of newsDate of event*DescriptionNature of impactType of impact
1.                    Multi-Firm Blockchain Implementation for Equity Swaps Completes Second Phase [source: Prnewswire]November 20, 2017November 20, 2017The second phase of development of blockchain technology for the major finance companies JPMorgan and Goldman Sachs, aimed at improving control over transactions on the securities market, is nearing completion. This will have a positive impact on the entire blockchain industry, and will help it to secure wider support.

Market

Favorable 

2.                    Tether Claims $30 Million in US Dollar Token Stolen [source: Coindesk]November 20, 2017November 19, 2017The latest large-scale cryptocurrency fraud attests to the fact that the entire industry is still underdeveloped, that the security of technologies must be improved, and that the risk of making contributions to infrastructure must be lowered. This news fuels skepticism toward cryptocurrencies and adversely affects the market.

Market

BTC

Unfavorable
3.                    New Code Released for Vlad Zamfir’s Ethereum ‘Casper’ Upgrade [source: Coindesk]November 21, 2017November 21, 2017The publication of a new Proof-of-Stake protocol for ETH, which, among other things, will greatly optimize electricity consumption, signals extensive changes to ETH and will lead to increased demand for this cryptocurrency.ETH Favorable
4.                    The Birth of New Bitcoin Fork-Bitcoin-Diamond (BCD) Launched with Extensive Research and Development [source: NewsBTC]November 23, 2017November 23, 2017The new bitcoin hard fork is aimed at improving some of the key characteristics of BTC. For example, the new cryptocurrency will have enhanced privacy protection and faster transaction confirmation. The new cryptocurrency is already supported by a number of exchanges. Bitcoin Diamond was allocated to all Bitcoin holders, which led to an additional growth in demand for Bitcoin itself.

Bitcoin Diamond

BTC

Favorable
5.                    New Bill Paves Way for Adoption of Blockchain by US Government [source: Сointelegraph]

 

November 24, 2017November 24, 2017The passing of the new bill on defense spending could facilitate the widespread use of blockchain technology by the US government, as it includes a clause that allows government institutions to spend the money saved to upgrade IT systems.Market Favorable
6.                    Ethereum price sets new record high

Data source: Coinmarketcap. com

November 24, 2017November 24, 2017The fact that the cryptocurrency surpassed its previous high may have a positive impact on the further growth of the exchange rate, as it could lead to an increase in demand.ETH Favorable
7.                    Bitcoin price passes $9,000 threshold

Data source: Coinmarketcap. com

November 26, 2017November 26, 2017Crossing the crucial psychological barrier of $9,000 will have a positive effect on bitcoin exchange rate growth, and could trigger additional demand due to the high probability, based on several forecasts, that the exchange rate will increase to $10,000.

BTC

Favorable
8.                    Bitcoin Gold added to the Coinmarketcap.com websiteNovember 26, 2017November 26, 2017After a string of negative news items about Bitcoin Gold, the situation surrounding the cryptocurrency has stabilized. The fact that it is currently in fifth place in terms of capitalization among all cryptocurrencies will have a favorable effect on the recognition and continued growth of the cryptocurrency’s exchange rate.Bitcoin Gold 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-20-26-2017-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 and remained stable for the next two weeks. The launch of Bitcoin Diamond as part of a new Bitcoin hard fork (November 23, 2017) also piqued interest in Bitcoin, as many of its holders were interested in the possible bonuses from the developers of the new cryptocurrency.

For its part, the Ethereum exchange rate has grown from $305 to $466 since the beginning of November. Very pronounced growth was seen last week. As noted above, the Ethereum developers announced the code of the new “Casper” upgrade (on November 21, 2017), which had a positive effect on demand.

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-20-26-2017-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, Ethereum, and Bitcoin Cash 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 26, 2017)

DateOpen,  $High,   $Low, $Range, $Close,  $DoD,  %D, %Index, rate to start of yearVolume (24h), USD millionMarket cap, USD million
Nov 26, 20178789.049522.98775.59747.39330.55106.1%6.19.355 476146 789
Nov 25, 20178241.718790.98191.15599.88790.92106.5%6.58.814 342137 632
Nov 24, 20178074.028374.27940.93433.28253.69102.7%2.78.275 059134 816
Nov 23, 20178232.388267.48038.77228.68038.7797.4%-2.68.054 225137 444
Nov 22, 20178077.958302.38075.47226.88253.55102.3%2.38.273 634134 851
Nov 21, 20178205.748348.77762.71586.08071.2698.4%-1.68.084 278136 967
Nov 20, 20178039.078336.97949.36387.58200.64102.0%2.08.213 488134 167
Nov 19, 20177766.038101.97694.10407.88036.49103.2%3.28.053 149129 595
Nov 18, 20177697.217885.07463.44421.67790.15101.1%1.17.803 667128 425
Nov 17, 20177853.578004.67561.09443.57708.9997.9%-2.17.724 652131 026
Nov 16, 20177323.247967.47176.58790.87871.69107.6%7.67.885 124122 164
Nov 15, 20176634.767342.36634.76707.57315.54110.2%10.27.334 201110 667
Nov 14, 20176561.486765.06461.75303.26635.75101.2%1.26.653 197109 434
Nov 13, 20175938.256811.25844.29966.96559.49110.2%10.26.576 26399 029
Nov 12, 20176295.456625.15519.011106.05950.0793.6%-6.45.968 957104 980
Nov 11, 20176618.616873.26204.22668.96357.6096.1%-3.96.374 909110 362
Nov 10, 20177173.737312.06436.87875.16618.1492.6%-7.46.635 208119 607
Nov 9, 20177446.837446.87101.52345.37143.5895.8%-4.27.163 226124 146
Nov 8, 20177141.387776.47114.02662.47459.69104.4%4.47.474 602119 041
Nov 7, 20177023.107253.37023.10230.27144.38101.7%1.77.162 326117 056
Nov 6, 20177403.227445.87007.31438.57022.7694.8%-5.27.033 112123 379
Nov 5, 20177404.527617.57333.19284.37407.41100.4%0.47.422 380123 388
Nov 4, 20177164.487492.97031.28461.67379.95102.4%2.47.392 484119 376
Nov 3, 20177087.537461.37002.94458.47207.76101.8%1.87.223 370118 084
Nov 2, 20176777.777367.36758.72608.67078.50104.6%4.67.094 654112 910
Nov 1, 20176440.976767.36377.88389.46767.31104.6%4.66.782 870107 287

* Data as of November 27, 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 26, 2017)

DateOpen,  $High,   $Low, $Range, $Close,  $DoD,  %D, %Index, rate to start of yearVolume (24h), USD millionMarket cap, USD million
Nov 26, 2017465.97472.7451.6121.1471.33101.1%1.157.691 19844 712
Nov 25, 2017475.68485.2461.0524.1466.2898.2%-1.857.071 42245 633
Nov 24, 2017412.50481.0402.7678.2474.91115.8%15.858.132 29339 564
Nov 23, 2017381.44425.6376.0949.5410.17107.8%7.850.201 84636 577
Nov 22, 2017360.31381.4360.1521.3380.65105.6%5.646.5980134 544
Nov 21, 2017367.44372.5350.6921.8360.4098.3%-1.744.1195035 220
Nov 20, 2017354.09372.1353.2918.9366.73103.5%3.544.8980733 933
Nov 19, 2017347.40371.3344.7426.6354.39102.0%2.043.381 18233 285
Nov 18, 2017331.98349.6327.6921.9347.61104.6%4.642.5565031 801
Nov 17, 2017330.17335.0327.527.4332.39100.4%0.440.6862231 620
Nov 16, 2017333.44336.2323.6112.6330.9299.3%-0.740.5079731 927
Nov 15, 2017337.96340.9329.8111.1333.3698.7%-1.340.8072332 353
Nov 14, 2017316.76340.2316.7623.4337.63106.6%6.641.331 07030 317
Nov 13, 2017307.02328.4307.0221.4316.72102.9%2.938.771 04229 379
Nov 12, 2017314.69319.2298.5120.6307.9197.8%-2.237.691 61330 106
Nov 11, 2017298.59319.5298.1921.3314.68105.2%5.238.5284228 559
Nov 10, 2017320.67324.7294.5430.2299.2593.3%-6.736.6388630 665
Nov 9, 2017308.64329.5307.0622.4320.88103.8%3.839.2889329 509
Nov 8, 2017294.27318.7293.1025.6309.07104.9%4.937.8396828 129
Nov 7, 2017298.57304.8290.7714.1294.6698.6%-1.436.0754128 533
Nov 6, 2017296.43305.4293.7211.7298.89100.9%0.936.5857928 323
Nov 5, 2017300.04301.4295.126.3296.2698.6%-1.436.2633828 662
Nov 4, 2017305.48305.5295.809.7300.4798.3%-1.736.7841629 175
Nov 3, 2017288.50308.3287.6920.6305.71106.4%6.437.4264627 547
Nov 2, 2017290.73293.9281.1712.7287.4398.5%-1.535.1890527 754
Nov 1, 2017305.76306.4290.5815.8291.6995.4%-4.635.7055429 184

* Data as of November 27, 2017, 00:00 UTC
Data source: coinmarketcap.com

Since the start of November, the Bitcoin exchange rate has appreciated from $6,440.97 to $9,330.55, and the Ethereum exchange rate has increased from $305.76 to $471.33 (Tables 1.4.a and 1.4.b). The highest Bitcoin and Ethereum exchange rates ($9,522.90 and $485.20) were recorded on November 26, 2017, and November 25, 2017, respectively. The largest fluctuations in the daily range (Range) of the exchange rates were: for Bitcoin $1,106 (on November 12, 2017) and for Ethereum $78.20 (on November 24, 2017). Since the start of 2017, the Bitcoin and Ethereum exchange rates have increased by a factor of 9.35 and 57.69, 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-20-26-2017-figure-3

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-4

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-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, which transitioned to exponential growth (on November 23-24, 2017) and since November 25, 2017, has reached a new high of $450-460 (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 (see Table 1.4.c). However, over the past two weeks it has become apparent that there is heightened interest in most dominant cryptocurrencies and a growth in total market capitalization.

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 26, 2017)

DateOpen,  $High,   $Low, $Range, $Close,  $DoD,  %D, %Index, rate to start of yearVolume (24h), USD millionMarket cap, USD million
Nov 26, 20171571.41758.61563.4195.31735.7110.5%10.54.571 59326 435
Nov 25, 20171634.01656.61535.8120.81571.395.3%-4.74.131 56027 485
Nov 24, 20171651.91782.81575.8207.11648.597.9%-2.14.343 12927 782
Nov 23, 20171302.21683.81300.0383.91683.8129.2%29.24.434 11221 899
Nov 22, 20171175.11335.31171.6163.71303.3110.7%10.73.431 51819 759
Nov 21, 20171220.81224.21140.983.31177.095.2%-4.83.1077320 525
Nov 20, 20171172.41236.01167.368.71236.0105.5%5.53.2580019 710
Nov 19, 20171261.01262.31144.1118.31172.193.4%-6.63.081 28621 196
Nov 18, 20171197.41388.11197.4190.71254.5105.8%5.83.303 05420 126
Nov 17, 2017909.21217.4864.0353.41185.5131.6%31.63.123 20315 279
Nov 16, 20171202.21210.4876.6333.8900.874.3%-25.72.372 03520 202
Nov 15, 20171269.81326.41192.0134.41212.495.2%-4.83.191 32221 336
Nov 14, 20171346.71390.21211.4178.81273.594.1%-5.93.351 69822 626
Nov 13, 20171381.81501.21043.0458.21354.097.5%-2.53.564 85123 215
Nov 12, 20171347.02477.71215.61262.11388.9103.6%3.63.658 37122 614
Nov 11, 20171001.61403.7910.7492.91340.5133.1%33.13.535 14016 807
Nov 10, 2017651.81034.8651.8383.01007.4154.0%54.02.655 19510 933
Nov 9, 2017622.3670.1619.350.9654.3105.1%5.11.7271010 438
Nov 8, 2017615.2646.4565.680.8622.5101.0%1.01.6483810 318
Nov 7, 2017602.7626.2602.523.8616.3102.3%2.31.6237510 105
Nov 6, 2017630.3657.3602.754.7602.795.6%-4.41.5979410 567
Nov 5, 2017619.9635.7579.156.6630.7101.7%1.71.6681610 391
Nov 4, 2017635.4642.1571.170.9620.599.2%-0.81.631 16110 647
Nov 3, 2017587.3684.5577.9106.7625.3106.5%6.51.651 6829 840
Nov 2, 2017527.7610.4514.595.9587.2110.4%10.41.551 6328 840
Nov 1, 2017438.3538.3437.9100.4531.8121.1%21.11.401 1527 342

* Data as of November 27, 2017, 00:00 UTC
Data source: coinmarketcap.com

The overall index of Bitcoin Cash exchange rate change from August 1, 2017, equaled 4.57 (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 357%, with most of this growth taking place since the beginning of November. As mentioned earlier, Bitcoin Cash now holds third place in terms of capitalization, which equals $26.4 billion.

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 newsDate of event*DescriptionNature of impactType of impact
1.SBI to Use Blockchain for Smart Contracts and KYC by Next Month [source: Economictimes]November 20, 2017Next weekThe development of blockchain technology and its active use in real life by authoritative organizations such as State Bank of India (SBI) has a positive impact on all cryptocurrencies, and on bitcoin in particular, as the technology wins more and more supporters.

Market

BTC

Favorable

 

2.Korea’s Second Largest Bank Building Secure Crypto Wallet Services [source: Сointelegraph]November 24, 2017n/aThe intention of the second largest South Korean bank to create its own cryptocurrency wallets and to provide digital asset storage and deposit services will have a favorable effect on the market, as it increases the accessibility of cryptocurrencies for a wide range of users.Market

Favorable

 

3.Regulators Eye Wider Virtual Currency Use [source: Manilatimes]November 25, 2017n/aThe Securities and Exchange Commission of the Philippines has announced its intention to legalize cryptocurrencies by giving them the status of securities. The Commission also intends to license cryptocurrency exchanges in the country. This announcement demonstrates the country’s commitment to assimilating new technologies, and raises confidence in the future. There are reasons to believe that cryptocurrencies will not remain outside the law in the Philippines and in other countries.

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 26, 2017, are presented as graphs (Fig. 1.1-1.5)*.

Table 1.6. Legends and descriptions of the figures

Global FiguresFigure**Description
Total cryptocurrency market capitalization, USD millionFig. 1.1This figure shows cryptocurrency and digital asset market capitalization trends from July 2, 2017.
The rate of market change (as a % compared to the beginning of the year)Fig. 1.1This figure shows the % change in cryptocurrency and digital asset market capitalization compared to January 1, 2017.
Change in the market capitalization (in USD million compared to the previous period)Fig. 1.2This figure shows the weekly change in USD million (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
The rate of market change (as a % compared to the previous period)Fig. 1.2This figure shows the % of weekly change (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
Number of cryptocurrencies and digital assetsFig.1.3This figure shows the trends in the increase of the number of cryptocurrencies and digital assets circulating on cryptocurrency exchanges. On January 1, 2017, their number was 617, and as of November 19, 2017, this number had already reached 1,249.
Average market capitalization, USD millionFig. 1.3This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from July 2, 2017, i.e. the ratio between the market capitalization of all cryptocurrencies and digital assets and their number.
Forecast of total cryptocurrency market capitalizationFig. 1.4, 1.5This figure shows the time trend (forecast) change in cryptocurrency and digital asset market capitalization.

* Data as of November 27, 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-20-26-2017-figure-1-1

** Average daily data

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to November 26, 2017. Over this period, market capitalization increased from $94,716 million to $283,044 million, a growth of 1,499% relative to the start of the year. Over the past week, total market capitalization grew from $233,808 million to $283,044 million (as of November 26, 2017).

Figure 1.2. Change in market capitalization

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-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 20-26, 2017), total cryptocurrency market capitalization increased by $49,236 million, or 21% (using average daily data). The growth was mainly due to an increase in the market capitalization of Bitcoin by $17.2 billion, but Altcoins, including Bitcoin Gold (on the strength of the increase in its market capitalization to $6.1 billion), were also a factor.

Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-1-3

The total number of cryptocurrencies and digital assets listed on exchanges has grown since July from 881 to 1,249. Their number increased by 10 over the past week alone, from 1,239 to 1,249. At the same time, the average cryptocurrency and digital asset capitalization increased from $188.7 million to $226.6 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-1-4

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-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, and a mere 20 days later had already eclipsed $250 billion (November 23, 2017). Last week (November 20-26, 2017) was characterized by market growth of 21%, with growth being seen in all major cryptocurrencies in the top 10 (except IOTA and NEO). The structure of the cryptocurrency market changed in favor of Altcoins, with the market dominance of Bitcoin dropping to 52.2%.

The prediction that the Bitcoin exchange rate will reach $10,000 by the end of the calendar year is becoming more and more likely. That being said, the cryptocurrency market in general has grown. Since the beginning of the year, its capitalization has increased by 16 times, from $17.7 billion to $283 billion (November 26, 2017).

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

    2.1 Brief market overview, news of the week

  • Philippine Regulators Eye New Rules for Bitcoin Exchanges and ICOs [source: Сoindesk]
  • ICO Funding Spikes to $2.8 Billion 2017: Funderbeam [source: Hacked]
  • Bermuda Courts ICOs, Cryptocurrencies in Push for Economic Diversification [source: Сryptocoinsnews]
  • Exit Scam? Ethereum-based Confido Vanishes after Raising $374,000 ICO [source: Сryptocoinsnews]

    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 assess the market performance of successfully completed and/or listed ICOs

IndicatorDescription
Average collected funds (ACF)Average amount of funds collected per ICO project over the period (month, quarter, year).
Average token performance (ATP)

 

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

 

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

IndicatorAugust

2017

September

2017

October

2017

November
1-5,
2017
November
6-12,
2017
November 13-19,

2017

November 20-26,

2017

Total amount of funds collected, USD million1330.0802.9794.297.9258.9140.7147.1
Number of companies that completed an ICO1354868661414
Maximum collected, USD million (ICO name)54.6 (Salt)257.0 (Filecoin)144.3 (Polkadot)37
(Ripio)
108.2 (QASH)46.5
(WAX)
30.9 (CyberMiles)
Average collected funds, USD million9.416.711.716.343.210.110.5
Max token reward (ICO name)22.76 (Neblio)3.86x (Internxt)4.9x (Electroneum)3.16x (Raiden Network)14.56x (Confido)52.62x

(Quantstamp)

1.45

(Flixxo)

Average token reward (ATR)22.28x1.44x1.34x2.0414.56x2.62x1.24x
Weighted average current reward on funds (WACRF)31.35x1.10x1.45x214.56x2.62x1.27x

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 for the third week of November (November 13-19, 2017) were adjusted to account for the appearance of more complete information on past ICOs. As a result, the total amount of funds collected was $140.7 million. The amount collected through ICOs last week (November 20-26, 2017) equaled $147.1 million. This total includes the results of the 14 most successful completed ICOs, with the largest amount collected equaling around $30.9 million (CyberMiles ICO). The average amount of funds collected per project was $10.5 million. More detailed information on last week’s 14 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

IndicatorValue 
The number of projects conducting an active ICO as of the current date (November 26, 2017)287
The number of projects planning an ICO as of the current date (November 26, 2017)260
The number of projects planning an ICO between November 27-December 3, 201727

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

The number of projects conducting active ICOs as of November 26, 2017, is 287. There is presently information available on 260 planned ICOs to be conducted after November 26, 2017, including at least 27 ICOs which will start next week.

    2.4. Quantitative analysis of the ICO market

        1.Amount of funds collected and number of ICOs

Table 2.4. Amount of funds collected and number of ICOs

MonthCollected, $ millionNumber of ICOs*Average collected, $ million
January4.531.5
February9.751.94
March4.731.57
April127.8177.52
May168.41610.53
June995.23033.17
July461.32915.91
August330.0359.43
September730.34516.23
October794.26811.7
November 1-5, 201797.9616.3
November 6-12, 2017258.9643.2
November 13-19, 2017140.71410.1
November 20-26, 2017147.11410.5

* 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 20-26, 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-20-26-2017-figure-2-1

        2. Top ICOs

Table 2.5. Top 14 ICOs in terms of the amount of funds collected (November 20-26, 2017)

#Name of ICO***Category**Collected, $ millionDate
1CyberMilesInfrastructure*30.9November 22, 2017
2UTRUSTPayments21November 20, 2017
3AionInfrastructure*20November 24, 2017
4BodhiCommerce & Advertising*14.7November 22, 2017
5Time New BankFinance14.4November 21, 2017
6ScienceInfrastructure*12.2November 22, 2017
7StarbaseInfrastructure*8.8November 24, 2017
8BrickblockTrading & Investing*4.8November 22, 2017
9FlixxoSocial Network*4.7November 24, 2017
10Mercury ProtocolInfrastructure*4.7November 25, 2017
11Zap StoreCommerce & Advertising*2.8November 20, 2017
12ArtokenGaming & VR*2.8November 23, 2017
13MyWishInfrastructure*2.7November 25, 2017
14Divi projectInfrastructure*2.6November 24, 2017
Total collected funds147.1
Average collected funds, $10.5

* 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 14 ICOs which were successfully completed last week and collected the greatest amounts of funds. The leader was CyberMiles, a project in the area of e-commerce and online shopping. CyberMiles, a blockchain-based project, creates an exchange for small business lending, ensuring the reliability and safety of transactions between trade participants. CyberMiles is working on this project together with the well-known company 5miles, which has been active in marketing and retail in the USA for more than three years.

Figure 2.2. Top 14 ICOs in terms of the amount of funds collected (November 20-26, 2017)

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-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 ICOCategory**Collected, $ millionDateToken performance
1WaxCommerce & Advertising*46.5November 15, 2017n/a
2Basic Attention TokenCommerce & Advertising35.0May 31, 20175x
3AirtokenCommerce & Advertising15.0October 7, 20170,79x
4BodhiCommerce & Advertising*14.7November 22, 20171,33x
5AdExCommerce & Advertising11.4June 30, 20174,88x
6SpankchainCommerce & Advertising*7.2November 13, 2017n/a
7SomaCommerce & Advertising*6November 15, 2017n/a
8IndaHashCommerce & Advertising*4.8November 14, 2017n/a
9Zap StoreCommerce & Advertising*2.8November 20, 2017n/a
10AltocarCommerce & Advertising*2.3November 9, 2017n/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, including Bodhi and Zap Store last week. Therefore, to date there is no data on the performance of their exchange listing. The Wax project, which completed its ICO on November 15, 2017, is the leader in this category in terms of the amount of funds collected. This project was considered in the previous report. In second place is the Basic Attention Token project, which collected $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 $0.18. Therefore, token performance equals 5x. The total market capitalization of the tokens of Basic Attention Token as of November 26, 2017, was around $180 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-20-26-2017-figure-2-3

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

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

Name of ICOCategory**Collected, $ millionDateToken performance
1TenXPayments64.0June 24, 20172.98x
2MonethaPayments36.6August 31, 20170.37x
3Request NetworkPayments33.3October 16, 20171.00x
4DomRaiderPayments31.0October 11, 20170.28x
5MonacoPayments26.6June 18, 20172.27x
6OmiseGoPayments25.0July 5, 201728.17x
7UTRUSTPayments21.0November 20, 2017n/a
8Centra TechPayments18.5August 25, 20170.83x
9ChangePayments*15.7October 16, 20171.29x
10TokenCardPayments12.7May 2, 20172.87x

* The category was established based on expert opinions.

The UTRUST project, which was completed last week (second place in the top 14 ICOs in terms of the amount of funds collected from November 20-26, 2017), took seventh place in the overall rating of this category. At present, all projects from the top 10 in the Payments category have a token performance indicator of 0.28x to 28.17x. The exchange listing of the OmiseGo ICO can be considered one of the most successful, as this project has a current token price to token sale price ratio of 28.17x. 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 28.17 took place over the course of approximately four and a half months, and the market capitalization of OmiseGo currently exceeds $850 million.

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

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-2-4

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

Name of ICOCategory**Collected, $ millionDateToken performance
1KyberNetworkFinance48.0September 15, 20173.56x
2PeerBanksFinance42.6September 22, 2017n/a
3PolybiusFinance31.7July 5, 20170.48x
4Bankera Pre-ICOFinance29.6September 19, 2017n/a
5EverexFinance26.5August 31, 20170.89x
6LATokenFinance19.6October 10, 20170.39x
7CoFound.itFinance14.8June 6, 20171.02x
8BitcoinGrowthFundFinance14.5May 17, 2017n/a
9Time New BankFinance14.4November 21, 2017n/a
10ICOBoxFinance14.2September 15, 2017n/a

* The category was established based on expert opinions.

Table 2.8 shows the top 10 ICOs in the Finance category. More than half of the projects presented are selling their tokens on cryptoexchanges. The capitalization of the leader in this category (the KyberNetwork project) is $169.3 million.

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

weekly-cryptocurrency-and-ico-market-analysis-november-20-26-2017-figure-2-5

Over the past period (November 20-26, 2017), 14 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of funds collected of at least $147.1 million. The week’s leader was the CyberMiles project ($30.9 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 27 ICOs are planned to take place next week.

The Glossary is given in Annex 1.

Annex 1 – Glossary

Key termsDefinition
Initial coin offering, ICOA form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings to future holders in the form of blockchain-based cryptocurrencies (tokens) and digital assets.
Market capitalizationValue of an asset calculated based on its current market (exchange) price. This economic indicator is used to assess the total aggregate value of market instruments, players, and markets. [Source: https://en.wikipedia.org].
Cryptocurrency market capitalizationAggregate market value of cryptocurrencies circulating on the market.
Total cryptocurrency market capitalizationCryptocurrency and digital asset market capitalization, i.e. the aggregate market value of all cryptocurrencies and digital assets circulating on the market.
Token rewardToken performance (current token price / token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.
DominanceMarket share, i.e. the ratio of market capitalization of a particular cryptocurrency (token) to total cryptocurrency market capitalization. Expressed as a %.
Token sale price

Current token price

Token sale price during the ICO.

Current token price.

Not Mineable

 

A coin that is not mineable. The term is used for cryptocurrencies (tokens) which cannot be mined or issued through mining.
Pre-minedA pre-mined coin. The term is used for cryptocurrencies (tokens) which are issued through mining, and a certain number of coins (tokens) have been created and distributed among certain users at the start of the project.
The rate of market increase (as a % compared to the beginning of the year)The rate of market increase (as a % compared to the start of the year), i.e. by how many % points did market capitalization increase compared to the start of the year.
The growth rate of the market (as a % compared to the beginning of the year)The market growth (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the start of the year.
Increase in market capitalization (in USD million compared to the previous period)Increase in cryptocurrency and digital asset market capitalization (in USD million compared to the previous period), i.e. by how many USD million did market capitalization increase over the period.
The rate of market increase (as a % compared to the previous period)Rate of market increase (as a % compared to the previous period), i.e. by how many % points did market capitalization increase over the period.
The market growth rate (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 assetsNumber of cryptocurrencies and digital assets. At the time when this glossary was compiled over 1,070 cryptocurrencies and digital assets were circulating on the market.
Average market capitalizationAverage market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number.
Token returnPerformance 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 saleAlternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH rate to its rate at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH rate.
BTC reward– current dollar value of $1 spent on buying tokens during the token saleSimilar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its rate at the start of the token sale and then it was sold at the current BTC rate.
Token/ETH rewardThis ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH.
Token/BTC rewardThis ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.
ZAK-n Crypto indexThe 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.

 


Disclaimer: While the information in this document is believed to be accurate, ICOBox makes no representations or warranties, express or implied, with respect to the completeness or accuracy of the information contained herein. The information presented in this document may include certain statements, estimates and projections. Such statements, estimates and projections reflect various assumptions by ICOBox concerning anticipated trends, which assumptions may or may not materialize. No representations are made as to the accuracy of such statements, estimates or projections, and actual performance may be materially different from that set forth in such statements, estimates or projections. Prospective financial results may be affected by fluctuating economic and political conditions and are dependent upon the occurrence of future events that cannot be assured. ICOBox makes no warranty or assurance regarding the achievability of projections or the data, information and assumptions relied upon herein. Opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. This document is for information purposes only and is not intended as an offer to sell securities, cryptocurrency or tokens, nor does it contain any recommendations or advice on any investments in any particular company or named assets. ICOBox expressly disclaims any and all liability for any representations, expressed or implied, contained in, or omitted from, this material. ICOBox is a provider of SaaS solutions for companies seeking to sell their products via distribution of tokens (ICO). ICOBox does and seeks to do business with companies covered in its research reports and buy any named assets.