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 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

# Parameter 1-Oct-17 1-Nov-17 MoM, % 5-Nov-17 DoD, % 12-Nov-17 DoD, % 19-Nov-17 DoD, % 26-Nov-17 DoD, %
1 Total market capitalization, USD billion 147.87 182.65 23.52% 199.51 9.23% 200.58 0.54% 233.63 16.47% 281.29 20.40%
2 Altcoin market capitalization, USD billion 75.91 75.36 -0.72% 76.12 1.01% 95.60 25.59% 104.03 8.82% 134.50 29.29%
Altcoin dominance, % 51.34% 41.3% -19.63% 38.15% -7.53% 47.7% 24.92% 44.5% -6.57% 47.8% 7.38%
3 Bitcoin price, $ 4341.05 6441.0 48.37% 7404.52 14.96% 6295.5 -14.98% 7766.0 23.36% 8789.0 13.17%
Bitcoin market capitalization, USD billion 72.05 107.29 48.91% 123.39 15.01% 104.98 -14.92% 129.60 23.45% 146.79 13.27%
Bitcoin dominance, % 48.66% 58.7% 20.72% 61.85% 5.29% 52.3% -15.37% 55.5% 5.99% 52.2% -5.93%
4 Ethereum price, $ 301.55 305.8 1.40% 300.04 -1.87% 314.7 4.88% 347.4 10.39% 466.0 34.13%
Ethereum market capitalization, USD billion 28.62 29.18 1.99% 28.66 -1.79% 30.11 5.04% 33.28 10.56% 44.71 34.33%
Ethereum dominance, % 19.39% 16.0% -17.60% 14.37% -10.09% 15.0% 4.48% 14.2% -5.08% 15.9% 11.57%
5 Bitcoin Cash price, $ 433.38 438.3 1.14% 619.91 41.44% 1346.97 117.28% 1260.95 -6.39% 1571.39 24.62%
Bitcoin Cash market capitalization, USD billion 7.21 7.34 1.87% 10.39 41.52% 22.61 117.64% 21.20 -6.27% 26.43 24.71%
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%
6 Litecoin price, $ 55.14 55.74 1.09% 55.03 -1.27% 62.31 13.23% 69.51 11.56% 88.94 27.95%
Litecoin market capitalization, USD billion 2.93 2.99 1.96% 2.95 -1.18% 3.35 13.45% 3.75 11.77% 4.80 28.20%
Litecoin dominance, % 1.98% 1.6% -17.35% 1.48% -9.53% 1.7% 12.85% 1.6% -4.04% 1.7% 6.47%
7 Smith + Crown Index 9147 12083 32.10% 13771 13.97% 12246 -11.07% 14548 18.80% 17004 16.88%
8 Volume (24h) 3 crypto, USD billion 1.6 3.5 123.03% 3.5 1.20% 18.9 435.98% 5.6 -70.35% 8.3 47.17%
Market cap 3 crypto, USD billion 108.2 144.2 33.21% 162.4 12.66% 157.7 -2.92% 184.1 16.73% 217.9 18.39%
ZAK-3 Crypto index 1.45% 2.4% 67.43% 2.18% -10.17% 12.0% 452.09% 3.1% -74.60% 3.8% 24.31%
9 Volume (24h) 6 crypto, USD billion 4.8 3.7 -22.91% 20.0 439.40% 6.1 -69.31% 8.9 45.08%
Market cap 6 crypto, USD billion 156.6 175.3 11.93% 171.8 -2.01% 200.1 16.49% 237.5 18.64%
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 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 26, 2017 8789.0 5 476 146 789 466.0 1 198 44 712 1571.39 1 593 26 435 8 266 217 936 3.8%
Nov 25, 2017 8241.7 4 342 137 632 475.7 1 422 45 633 1634 1 560 27 485 7 324 210 750 3.5%
Nov 24, 2017 8074.0 5 059 134 816 412.5 2 293 39 564 1651.86 3 129 27 782 10 480 202 163 5.2%
Nov 23, 2017 8232.4 4 225 137 444 381.4 1 846 36 577 1302.23 4 112 21 899 10 183 195 921 5.2%
Nov 22, 2017 8078.0 3 634 134 851 360.3 801 34 544 1175.06 1 518 19 759 5 952 189 154 3.1%
Nov 21, 2017 8205.7 4 278 136 967 367.4 950 35 220 1220.78 773 20 525 6 000 192 712 3.1%
Nov 20, 2017 8039.1 3 488 134 167 354.1 807 33 933 1172.43 800 19 710 5 096 187 811 2.7%
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 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)

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

 

  Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h) Market cap ZAK-6 Crypto index
Date $ USD million USD million $ USD million USD million $ USD million USD million USD million USD million %
Nov 26, 2017 0.2529 133 9 768 641.46 146 4 946 88.94 357 4 802 8 903 237 452 3.7%
Nov 25, 2017 0.2442 213 9 431 566.96 243 4 370 77.91 488 4 205 8 267 228 757 3.6%
Nov 24, 2017 0.2429 211 9 380 564.34 129 4 349 73.14 287 3 947 11 108 219 838 5.1%
Nov 23, 2017 0.2390 241 9 231 577.25 174 4 447 71.98 315 3 883 10 913 213 482 5.1%
Nov 22, 2017 0.2326 167 8 985 494.76 382 3 811 70.18 158 3 785 6 659 205 735 3.2%
Nov 21, 2017 0.2380 218 9 191 500.24 245 3 852 72.2 232 3 893 6 695 209 649 3.2%
Nov 20, 2017 0.2313 215 8 935 442.03 105 3 403 71.41 189 3 849 5 604 203 998 2.7%
Nov 19, 2017 0.2281 194 8 811 455.36 83 3 505 69.51 243 3 746 6 137 200 138 3.1%
Nov 18, 2017 0.2265 144 8 750 424.35 145 3 265 67.41 174 3 631 7 834 195 998 4.0%
Nov 17, 2017 0.2248 397 8 681 420.59 95 3 236 70.45 351 3 794 9 320 193 636 4.8%
Nov 16, 2017 0.2127 1 023 8 213 424.51 97 3 265 63.81 418 3 436 9 494 189 207 5.0%
Nov 15, 2017 0.2089 100 8 070 428.08 103 3 291 62.78 195 3 379 6 643 179 096 3.7%
Nov 14, 2017 0.2037 127 7 867 428.31 124 3 292 61.64 174 3 317 6 390 176 854 3.6%
Nov 13, 2017 0.1975 133 7 609 507.05 311 3 897 59.18 237 3 184 12 837 166 312 7.7%
Nov 12, 2017 0.2102 251 8 100 345.68 476 2 656 62.31 323 3 351 19 992 171 808 11.6%
Nov 11, 2017 0.2059 135 7 935 331.43 89 2 546 59.35 272 3 191 11 386 169 401 6.7%
Nov 10, 2017 0.2183 141 8 410 325.27 116 2 498 64.44 292 3 464 11 839 175 576 6.7%
Nov 9, 2017 0.2179 148 8 396 315.48 111 2 422 62.49 280 3 358 5 368 178 269 3.0%
Nov 8, 2017 0.2107 157 8 118 293.04 104 2 249 61.11 349 3 283 7 018 171 137 4.1%
Nov 7, 2017 0.2051 114 7 903 274.87 92 2 109 54.99 403 2 953 3 852 168 660 2.3%
Nov 6, 2017 0.2020 102 7 782 273.47 60 2 098 54.76 134 2 940 4 782 175 089 2.7%
Nov 5, 2017 0.2033 47 7 832 274.33 41 2 104 55.03 84 2 954 3 706 175 331 2.1%
Nov 4, 2017 0.2081 74 8 018 278.58 49 2 136 56.22 84 3 017 4 269 172 369 2.5%
Nov 3, 2017 0.2062 373 7 945 263.89 63 2 021 54.58 150 2 928 6 285 168 366 3.7%
Nov 2, 2017 0.1946 198 7 498 271.79 72 2 081 53.56 221 2 873 7 682 161 956 4.7%

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 news Date of event* Description Nature of impact Type of impact
1.                     Multi-Firm Blockchain Implementation for Equity Swaps Completes Second Phase [source: Prnewswire] November 20, 2017 November 20, 2017 The 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, 2017 November 19, 2017 The 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, 2017 November 21, 2017 The 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, 2017 November 23, 2017 The 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, 2017 November 24, 2017 The 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, 2017 November 24, 2017 The 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, 2017 November 26, 2017 Crossing 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 website November 26, 2017 November 26, 2017 After 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)

Date Open,  $ High,   $ Low, $ Range, $ Close,  $ DoD,  % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
Nov 26, 2017 8789.04 9522.9 8775.59 747.3 9330.55 106.1% 6.1 9.35 5 476 146 789
Nov 25, 2017 8241.71 8790.9 8191.15 599.8 8790.92 106.5% 6.5 8.81 4 342 137 632
Nov 24, 2017 8074.02 8374.2 7940.93 433.2 8253.69 102.7% 2.7 8.27 5 059 134 816
Nov 23, 2017 8232.38 8267.4 8038.77 228.6 8038.77 97.4% -2.6 8.05 4 225 137 444
Nov 22, 2017 8077.95 8302.3 8075.47 226.8 8253.55 102.3% 2.3 8.27 3 634 134 851
Nov 21, 2017 8205.74 8348.7 7762.71 586.0 8071.26 98.4% -1.6 8.08 4 278 136 967
Nov 20, 2017 8039.07 8336.9 7949.36 387.5 8200.64 102.0% 2.0 8.21 3 488 134 167
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 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)

Date Open,  $ High,   $ Low, $ Range, $ Close,  $ DoD,  % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
Nov 26, 2017 465.97 472.7 451.61 21.1 471.33 101.1% 1.1 57.69 1 198 44 712
Nov 25, 2017 475.68 485.2 461.05 24.1 466.28 98.2% -1.8 57.07 1 422 45 633
Nov 24, 2017 412.50 481.0 402.76 78.2 474.91 115.8% 15.8 58.13 2 293 39 564
Nov 23, 2017 381.44 425.6 376.09 49.5 410.17 107.8% 7.8 50.20 1 846 36 577
Nov 22, 2017 360.31 381.4 360.15 21.3 380.65 105.6% 5.6 46.59 801 34 544
Nov 21, 2017 367.44 372.5 350.69 21.8 360.40 98.3% -1.7 44.11 950 35 220
Nov 20, 2017 354.09 372.1 353.29 18.9 366.73 103.5% 3.5 44.89 807 33 933
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 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)

Date Open,  $ High,   $ Low, $ Range, $ Close,  $ DoD,  % D, % Index, rate to start of year Volume (24h), USD million Market cap, USD million
Nov 26, 2017 1571.4 1758.6 1563.4 195.3 1735.7 110.5% 10.5 4.57 1 593 26 435
Nov 25, 2017 1634.0 1656.6 1535.8 120.8 1571.3 95.3% -4.7 4.13 1 560 27 485
Nov 24, 2017 1651.9 1782.8 1575.8 207.1 1648.5 97.9% -2.1 4.34 3 129 27 782
Nov 23, 2017 1302.2 1683.8 1300.0 383.9 1683.8 129.2% 29.2 4.43 4 112 21 899
Nov 22, 2017 1175.1 1335.3 1171.6 163.7 1303.3 110.7% 10.7 3.43 1 518 19 759
Nov 21, 2017 1220.8 1224.2 1140.9 83.3 1177.0 95.2% -4.8 3.10 773 20 525
Nov 20, 2017 1172.4 1236.0 1167.3 68.7 1236.0 105.5% 5.5 3.25 800 19 710
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 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 news Date of event* Description Nature of impact Type of impact
1. SBI to Use Blockchain for Smart Contracts and KYC by Next Month [source: Economictimes] November 20, 2017 Next week The 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, 2017 n/a The 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, 2017 n/a The 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 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 1,249.
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 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

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

November 20-26,

2017

Total amount of funds collected, USD million1 330.0 802.9 794.2 97.9 258.9 140.7 147.1
Number of companies that completed an ICO1 35 48 68 6 6 14 14
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 million 9.4 16.7 11.7 16.3 43.2 10.1 10.5
Max token reward (ICO name) 22.76 (Neblio) 3.86x (Internxt) 4.9x (Electroneum) 3.16x (Raiden Network) 14.56x (Confido)5 2.62x

(Quantstamp)

1.45

(Flixxo)

Average token reward (ATR)2 2.28x 1.44x 1.34x 2.04 14.56x 2.62x 1.24x
Weighted average current reward on funds (WACRF)3 1.35x 1.10x 1.45x 2 14.56x 2.62x 1.27x

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

Indicator Value 
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, 2017 27

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

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 140.7 14 10.1
November 20-26, 2017 147.1 14 10.5

* 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, $ million Date
1 CyberMiles Infrastructure* 30.9 November 22, 2017
2 UTRUST Payments 21 November 20, 2017
3 Aion Infrastructure* 20 November 24, 2017
4 Bodhi Commerce & Advertising* 14.7 November 22, 2017
5 Time New Bank Finance 14.4 November 21, 2017
6 Science Infrastructure* 12.2 November 22, 2017
7 Starbase Infrastructure* 8.8 November 24, 2017
8 Brickblock Trading & Investing* 4.8 November 22, 2017
9 Flixxo Social Network* 4.7 November 24, 2017
10 Mercury Protocol Infrastructure* 4.7 November 25, 2017
11 Zap Store Commerce & Advertising* 2.8 November 20, 2017
12 Artoken Gaming & VR* 2.8 November 23, 2017
13 MyWish Infrastructure* 2.7 November 25, 2017
14 Divi project Infrastructure* 2.6 November 24, 2017
Total collected funds 147.1
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 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 5x
3 Airtoken Commerce & Advertising 15.0 October 7, 2017 0,79x
4 Bodhi Commerce & Advertising* 14.7 November 22, 2017 1,33x
5 AdEx Commerce & Advertising 11.4 June 30, 2017 4,88x
6 Spankchain Commerce & Advertising* 7.2 November 13, 2017 n/a
7 Soma Commerce & Advertising* 6 November 15, 2017 n/a
8 IndaHash Commerce & Advertising* 4.8 November 14, 2017 n/a
9 Zap Store Commerce & Advertising* 2.8 November 20, 2017 n/a
10 Altocar Commerce & Advertising* 2.3 November 9, 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, 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 ICO Category** Collected, $ million Date Token performance
1 TenX Payments 64.0 June 24, 2017 2.98x
2 Monetha Payments 36.6 August 31, 2017 0.37x
3 Request Network Payments 33.3 October 16, 2017 1.00x
4 DomRaider Payments 31.0 October 11, 2017 0.28x
5 Monaco Payments 26.6 June 18, 2017 2.27x
6 OmiseGo Payments 25.0 July 5, 2017 28.17x
7 UTRUST Payments 21.0 November 20, 2017 n/a
8 Centra Tech Payments 18.5 August 25, 2017 0.83x
9 Change Payments* 15.7 October 16, 2017 1.29x
10 TokenCard Payments 12.7 May 2, 2017 2.87x

* 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 ICO Category** Collected, $ million Date Token performance
1 KyberNetwork Finance 48.0 September 15, 2017 3.56x
2 PeerBanks Finance 42.6 September 22, 2017 n/a
3 Polybius Finance 31.7 July 5, 2017 0.48x
4 Bankera Pre-ICO Finance 29.6 September 19, 2017 n/a
5 Everex Finance 26.5 August 31, 2017 0.89x
6 LAToken Finance 19.6 October 10, 2017 0.39x
7 CoFound.it Finance 14.8 June 6, 2017 1.02x
8 BitcoinGrowthFund Finance 14.5 May 17, 2017 n/a
9 Time New Bank Finance 14.4 November 21, 2017 n/a
10 ICOBox Finance 14.2 September 15, 2017 n/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 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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