Coinspeaker partnered with ICO platform ICOBox to provide our readers with this monthly analysis of main cryptocurrencies, digital assets markets and ICOs.

Information as of December 3, 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 took place during November 2017, including over the last week (November 27-December 3, 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 October 1, 2017, to December 3, 2017.

# Parameter 1-Oct-17 1-Nov-17 MoM, % 1-Dec-17 MoM, % 03-Dec-17 DoD, %
1 Total market capitalization, USD billion 147.9 182.6 23.5% 305.1 67.1% 329.1 7.8%
2 Altcoin market capitalization, USD billion 75.9 75.4 -0.7% 134.7 78.7% 143.8 6.8%
Altcoin dominance, % 51.3% 41.3% -19.6% 44.1% 7.0% 43.7% -1.0%
3 Bitcoin price, $ 4 341.1 6 441.0 48.4% 10 198.6 58.3% 11 082.7 8.7%
Bitcoin market capitalization, USD billion 72.0 107.3 48.9% 170.4 58.9% 185.3 8.7%
Bitcoin dominance, % 48.7% 58.7% 20.7% 55.9% -4.9% 56.3% 0.8%
4 Ethereum price, $ 301.6 305.8 1.4% 445.2 45.6% 463.7 4.2%
Ethereum market capitalization, USD billion 28.6 29.2 2.0% 42.8 46.5% 44.6 4.2%
Ethereum dominance, % 19.4% 16.0% -17.6% 14.0% -12.3% 13.5% -3.4%
5 Bitcoin Cash price, $ 433.4 438.3 1.1% 1 381.8 215.3% 1 435.4 3.9%
Bitcoin Cash market capitalization, USD billion 7.2 7.3 1.9% 23.3 216.8% 24.2 3.9%
Bitcoin Cash dominance, % 4.9% 4.0% -17.5% 7.6% 89.6% 7.3% -3.7%
6 Litecoin price, $ 55.1 55.7 1.1% 88.0 57.9% 100.2 13.9%
Litecoin market capitalization, USD billion 2.9 3.0 2.0% 4.8 59.2% 5.4 13.9%
Litecoin dominance, % 2.0% 1.6% -17.3% 1.6% -4.7% 1.6% 5.6%
7 Smith + Crown Index 9 147.0 12 083.0 32.1% 18 058.0 49.4% 20 456.0 13.3%
8 Volume (24h) 3 crypto, USD billion 1.6 3.5 123.0% 9.0 157.6% 9.1 0.9%
Market cap 3 crypto, USD billion 108.2 144.2 33.2% 236.5 64.0% 254.0 7.4%
ZAK-3 crypto index 1.4% 2.4% 67.4% 3.8% 57.1% 3.6% -6.1%
9 Volume (24h) 6 crypto, USD billion 4.8 10.0 108.5% 9.8 -2.6%
Market cap 6 crypto, USD billion 156.6 257.0 64.0% 275.3 7.1%
ZAK-6 crypto index 3.1% 3.9% 27.1% 3.5% -9.1%

* Data as of December 3, 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.
Data source: coinmarketcap.com, https://www.smithandcrown.com

During November 2017 and the first three days of December, total cryptocurrency market capitalization increased from $182.65 billion to $329.1 billion (see Table 1.1). Since November 1, 2017, market capitalization has increased by more than $145 billion, mainly due to the increase in Bitcoin capitalization from $107.3 to $185.3 billion, i.e. by $78 billion. For its part, altcoin capitalization increased over the same period from $75.4 billion to $143.8 billion, i.e. by $68 billion. The increase in altcoin capitalization was driven by the exchange rates of Ethereum, Bitcoin Gold, Cardano, Ripple, Litecoin, IOTA, Dash, Ethereum Classic, Monero, NEO, NEM, etc., meaning that during the analyzed period the capitalization of all the top ten cryptocurrencies increased.

November was a productive month for the cryptocurrency market, marked by several successful cryptocurrency hard forks and positive news, including the announcement by CME Group of the launch dates of Bitcoin futures. The growth in all dominant cryptocurrencies during November ranged from 25.3% (XRP) to 215.3% (BCH). The Bitcoin, Ethereum, Bitcoin Cash, and Litecoin exchange rates increased by 58.3%, 45.6%, 215.3%, and 57.9%, respectively.

Since the start of November, the Bitcoin exchange rate fluctuated from $5,519 (on November 12, 2017) to $11,858.70 (on December 3, 2017), i.e. by more than $6,300 (Table 1.4.a), while the Ethereum exchange rate ranged from $281.17 to $522.31, and the change in the Bitcoin Cash exchange rate equaled around $2,040. The main reasons for the changes in the exchange rates of the leading cryptocurrencies over the week are shown in Table 1.3 (other events in November that had an impact on the cryptocurrency market were considered in previous reports).

Due to the resumption of growth in the Bitcoin exchange rate, the price of which increased during November from $6,441 to $10,198.60, and which had already jumped to $11,082.70 on December 3, 2017, high levels of activity are being seen on the altcoin market. Bitcoin dominance on the cryptocurrency market is consistently over 55%, but the structure of dominance of the remaining cryptocurrencies underwent a significant adjustment over the last month.
For example, Bitcoin Cash and Ripple switched places on November 2, 2017. What is more, on November 12, 2017, Bitcoin Cash even took over second place for several minutes, having overtaken Ethereum’s capitalization indicator. The structure of dominance of the top six cryptocurrencies in terms of total capitalization is given below.

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-0

               Dominance on Nov 2, 2017                Dominance on Nov 12, 2017 (morning)         Dominance on Nov 12, 2017 (evening)

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-0-1

Data source: coinmarketcap.com

The structure of dominance in the top seven cryptocurrencies in terms of capitalization also gradually changed over the past two weeks. On November 25, 2017, Dash and Litecoin moved to sixth and seventh place, while Bitcoin Gold climbed to fifth place with a total capitalization of more than $6.1 billion (see the figure below). Dash and Litecoin changed places several times over the course of the month. On December 4, 2017, the structure of the top seven changed once again: the capitalization of IOTA overtook Bitcoin Gold, Litecoin, and Dash.

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-0-2

        Dominance on November 25, 2017              Dominance on November 27, 2017             Dominance on December 4, 2017

Altcoin dominance (%) on December 3, 2017, equaled 43.7%.

The current data on the capitalization of the dominant cryptocurrencies (on December 4, 2017) are shown below:

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-0-3

Data source: coinmarketcap.com

The Smith + Crown Index has increased since the beginning of November from 12,083 to 20,456.

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 December 3, 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 %
Dec 3, 2017 11082.7 6 608 185 258 463.7 991 44 561 1435.36 1 477 24 164 9 076 253 982 3.6%
Dec 2, 2017 10978.3 5 139 183 490 466.9 944 44 853 1462.06 575 24 611 6 657 252 954 2.6%
Dec 1, 2017 10198.6 6 783 170 436 445.2 1 248 42 765 1381.81 965 23 257 8 996 236 458 3.8%
Nov 30, 2017 9906.8 8 311 165 537 431.2 1 903 41 412 1380.36 1 212 23 230 11 425 230 179 5.0%
Nov 29, 2017 10077.4 11 569 168 367 473.3 2 676 45 442 1541.63 2 345 25 942 16 590 239 751 6.9%
Nov 28, 2017 9823.4 6 349 164 104 480.5 1 347 46 127 1621.17 1 275 27 277 8 970 237 508 3.8%
Nov 27, 2017 9352.7 5 653 156 221 471.5 1 396 45 255 1722.93 1 391 28 987 8 441 230 463 3.7%
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 December 4, 2017, 00:00 UTC
** After November 2, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-3 index were calculated using the following three dominant cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash.
Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the six dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, and Dash) reached $9,767 million at the end of the past week (Table 1.2.b), i.e. 3.5% 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 %
Dec 3, 2017 0.2555 135 9 869 778.78 192 6 016 100.19 364 5 420 9 767 275 287 3.5%
Dec 2, 2017 0.2557 118 9 874 797.90 188 6 162 98.94 403 5 351 7 366 274 341 2.7%
Dec 1, 2017 0.2504 183 9 669 787.47 286 6 080 88 561 4 759 10 027 256 966 3.9%
Nov 30, 2017 0.2464 271 9 518 681.13 499 5 257 86.25 482 4 662 12 677 249 617 5.1%
Nov 29, 2017 0.2979 541 11 505 626.26 416 4 833 96.01 787 5 189 18 334 261 276 7.0%
Nov 28, 2017 0.2540 721 9 812 632.44 150 4 879 91.72 389 4 955 10 230 257 154 4.0%
Nov 27, 2017 0.2483 197 9 590 621.15 135 4 791 85.89 430 4 639 9 202 249 482 3.7%
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%

* Data as of December 4, 2017, 00:00 UTC
** After November 2, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-6 index were calculated using the following six cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, and Dash.
Data source: coinmarketcap.com

Table 1.3 shows the key events of the past week (November 27-December 3, 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 27-December 3, 2017

Factors and events

(link to source)

Date of news Date of event* Description Nature of impact Type of impact
1.                     The Cryptocurrency Market Surpasses $300 Billion [source: Сoinmarketcap] November 27, 2017 November 27, 2017 The capture of an ever-growing audience of users is attracting the attention of major companies and respected businessmen, as well as the governments of various countries. By surpassing $300 billion, the cryptocurrency market may become interesting for the heaviest hitters on the market. Market

 

 

Favorable

 

2.                     South Korea’s Largest Underground Mall Adds Bitcoin Payments to 620 Stores [source: News Bitcoin] November 27, 2017 November 27, 2017 The Goto Mall in Seoul has started cooperating with the HTS Coin cryptocurrency exchange, making it possible for all 620 stores located in the mall to accept payments in bitcoins. The mall has an average of half a million visitors every day, who may potentially begin to make payments in bitcoins in the future. This news has a favorable impact on its price. BTC Favorable
3.                     Liquidity Network Makes Off-Chain Protocol for Ethereum [source: Twitter] November 27, 2017 November 27, 2017 The test launch of an improved transaction protocol in the Ethereum network has a positive effect on the cryptocurrency’s price. The protocol is a one-way payment channel that allows funds to be sent to predetermined users without writing data in a public blockchain, while still retaining the security of the Ethereum network. This innovation may improve the platform’s efficiency. ETH Favorable
4.                     Financial Services Commission Drawing Up Regulations for Cryptocurrency Exchanges [source: English Hani] November 28, 2017 November 28, 2017 Regulation will have a positive influence on the operational stability of cryptocurrency exchanges. The South Korean exchanges are some of the most popular in the world, making this favorable news for the entire cryptocurrency market. Market Favorable
5.                     Ethereum Price Exceeds $500 for First Time [source: Сoinmarketcap] November 29, 2017 November 29, 2017 The price of ether passes the $500 mark for the first time, facilitating increased trust in the cryptocurrency on the part of market participants. ETH

 

Favorable
6.                     Bitcoin Price Surpasses $11,000 Mark [source: Сoinmarketcap] November 29, 2017 November 29, 2017 For the first time in history the Bitcoin price has surpassed the psychological threshold of $11,000. Many experts believe that bitcoin will continue to grow. BTC Favorable
7.                     Bitcoin Exchange Websites Crash as Prices Fall 20% from the Highs [source: Forex Live] November 29, 2017 November 29, 2017 Several major exchanges suspended their work for several hours due to a website crash, leading to a sharp drop in the exchange rates of bitcoin and many other cryptocurrencies. The adverse effect of this news might linger for the long term, as it demonstrates the vulnerability of the entire cryptocurrency market. Market

BTC

Favorable
8.                     Section Dedicated to Cryptocurrencies Appears on Yahoo Finance [source: Finance Yahoo] November 30, 2017 November 30, 2017 The popular information resource for traders and other representatives of the finance industry has launched a section dedicated to cryptocurrencies. This news shows the high level of interest of financial market participants in cryptocurrencies. Market

 

Favorable
9.                     Bitcoin Goes to the Big Four: PwC Accepts First Digital Currency Payment [source: Coinspeaker] November 30, 2017 November 30, 2017 One of the largest international audit and advisory firms has accepted its first payment in a cryptocurrency, attesting to the business community’s growing recognition of cryptocurrencies. Market

 

Favorable
10.                  JPMorgan Strategist: Bitcoin Futures Can ‘Add Legitimacy’ to Potential ‘Emerging Asset Class’ [source: CNBC] December 1, 2017 December 1, 2017 The respected opinion of financial giant JPMorgan concerning the growing legitimacy of bitcoin and cryptocurrencies and the possibility for their transformation into a new asset class to be used alongside more traditional assets such as securities. Market

BTC

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.

An analysis of the daily changes in the Bitcoin, Bitcoin Cash, and Ethereum exchange rates since the start of the month is given below (Tables 1.4.a and 1.4.b).

Table 1.4.а. Daily change in the Bitcoin (BTC) exchange rate, trading volume (Volume 24h) and capitalization, USD (from November 1, 2017, to December 3, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index,

rate to start of year

Volume (24h), USD million Market cap, USD million
Dec 3, 2017 11 082.7 11 858.7 10 862.0 996.7 11 323.2 102.2% 2.2 11.34 6 608 185 258
Dec 2, 2017 10 978.3 11 320.2 10 905.1 415.1 11 074.6 100.9% 0.9 11.09 5 139 183 490
Dec 1, 2017 10 198.6 11 046.7 9 694.7 1 352.1 10 975.6 107.3% 7.3 10.99 6 783 170 436
Nov 30, 2017 9 906.8 10 801.0 9 202.1 1 599.0 10 233.6 103.5% 3.5 10.25 8 311 165 537
Nov 29, 2017 10 077.4 11 517.4 9 601.0 1 916.4 9 888.6 98.3% -1.7 9.91 11 569 168 367
Nov 28, 2017 9 823.4 10 125.7 9 736.3 389.4 10 058.8 102.4% 2.4 10.08 6 349 164 104
Nov 27, 2017 9 352.7 9 818.4 9 352.7 465.6 9 818.4 105.2% 5.2 9.83 5 653 156 221
Nov 26, 2017 8 789.0 9 522.9 8 775.6 747.3 9 330.6 106.1% 6.1 9.35 5 476 146 789
Nov 25, 2017 8 241.7 8 790.9 8 191.2 599.8 8 790.9 106.5% 6.5 8.81 4 342 137 632
Nov 24, 2017 8 074.0 8 374.2 7 940.9 433.2 8 253.7 102.7% 2.7 8.27 5 059 134 816
Nov 23, 2017 8 232.4 8 267.4 8 038.8 228.6 8 038.8 97.4% -2.6 8.05 4 225 137 444
Nov 22, 2017 8 078.0 8 302.3 8 075.5 226.8 8 253.6 102.3% 2.3 8.27 3 634 134 851
Nov 21, 2017 8 205.7 8 348.7 7 762.7 586.0 8 071.3 98.4% -1.6 8.08 4 278 136 967
Nov 20, 2017 8 039.1 8 336.9 7 949.4 387.5 8 200.6 102.0% 2.0 8.21 3 488 134 167
Nov 19, 2017 7 766.0 8 101.9 7 694.1 407.8 8 036.5 103.2% 3.2 8.05 3 149 129 595
Nov 18, 2017 7 697.2 7 885.0 7 463.4 421.6 7 790.2 101.1% 1.1 7.80 3 667 128 425
Nov 17, 2017 7 853.6 8 004.6 7 561.1 443.5 7 709.0 97.9% -2.1 7.72 4 652 131 026
Nov 16, 2017 7 323.2 7 967.4 7 176.6 790.8 7 871.7 107.6% 7.6 7.88 5 124 122 164
Nov 15, 2017 6 634.8 7 342.3 6 634.8 707.5 7 315.5 110.2% 10.2 7.33 4 201 110 667
Nov 14, 2017 6 561.5 6 765.0 6 461.8 303.2 6 635.8 101.2% 1.2 6.65 3 197 109 434
Nov 13, 2017 5 938.3 6 811.2 5 844.3 966.9 6 559.5 110.2% 10.2 6.57 6 263 99 029
Nov 12, 2017 6 295.5 6 625.1 5 519.0 1 106.0 5 950.1 93.6% -6.4 5.96 8 957 104 980
Nov 11, 2017 6 618.6 6 873.2 6 204.2 668.9 6 357.6 96.1% -3.9 6.37 4 909 110 362
Nov 10, 2017 7 173.7 7 312.0 6 436.9 875.1 6 618.1 92.6% -7.4 6.63 5 208 119 607
Nov 9, 2017 7 446.8 7 446.8 7 101.5 345.3 7 143.6 95.8% -4.2 7.16 3 226 124 146
Nov 8, 2017 7 141.4 7 776.4 7 114.0 662.4 7 459.7 104.4% 4.4 7.47 4 602 119 041
Nov 7, 2017 7 023.1 7 253.3 7 023.1 230.2 7 144.4 101.7% 1.7 7.16 2 326 117 056
Nov 6, 2017 7 403.2 7 445.8 7 007.3 438.5 7 022.8 94.8% -5.2 7.03 3 112 123 379
Nov 5, 2017 7 404.5 7 617.5 7 333.2 284.3 7 407.4 100.4% 0.4 7.42 2 380 123 388
Nov 4, 2017 7 164.5 7 492.9 7 031.3 461.6 7 380.0 102.4% 2.4 7.39 2 484 119 376
Nov 3, 2017 7 087.5 7 461.3 7 002.9 458.4 7 207.8 101.8% 1.8 7.22 3 370 118 084
Nov 2, 2017 6 777.8 7 367.3 6 758.7 608.6 7 078.5 104.6% 4.6 7.09 4 654 112 910
Nov 1, 2017 6 441.0 6 767.3 6 377.9 389.4 6 767.3 104.6% 4.6 6.78 2 870 107 287

* Data as of December 4, 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 December 3, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index,

rate to start of year

Volume (24h), USD million Market cap, USD million
Dec 3, 2017 463.70 482.8 451.85 31.0 465.85 100.5% 0.5 57.02 991 44 561
Dec 2, 2017 466.85 476.2 456.65 19.6 463.45 99.3% -0.7 56.73 944 44 853
Dec 1, 2017 445.21 472.6 428.31 44.3 466.54 104.3% 4.3 57.10 1 248 42 765
Nov 30, 2017 431.21 465.5 401.24 64.3 447.11 104.6% 4.6 54.73 1 903 41 412
Nov 29, 2017 473.28 522.3 425.07 97.2 427.52 90.4% -9.6 52.33 2 676 45 442
Nov 28, 2017 480.52 482.5 466.35 16.1 472.90 98.4% -1.6 57.88 1 347 46 127
Nov 27, 2017 471.53 493.4 468.49 24.9 480.36 101.9% 1.9 58.80 1 396 45 255
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 December 4, 2017, 00:00 UTC
Data source: coinmarketcap.com

During November, the events surrounding the cancellation of a hard fork had a most noticeable effect on the Bitcoin exchange rate. The heightened interest of market participants in the alternative currency Bitcoin Cash and a drop in demand for Bitcoin was noted. However, after several days this situation changed. Ultimately, Bitcoin growth equaled more than 80%, with its exchange rate increasing from $6,440.97 to $11,858.70. The Ethereum exchange rate grew from $305.76 to $465.85 (Tables 1.4.a and 1.4.b). The highest Ethereum exchange rate ($522.30) was recorded on November 29, 2017. The largest fluctuations in the daily range (Range) of the Bitcoin and Ethereum exchange rates were $1,916.40, and $97.20, respectively, and were seen on November 29, 2017.

The Bitcoin and Ethereum exchange rates have increased since the start of 2017 by a factor of 11.34 and 57.02, respectively (see Tables 1.4.a, 1.4.b).

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 December 3, 2017)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index,

rate to start of year

Volume (24h), USD million Market cap, USD million
Dec 3, 2017 1435.4 1649.3 1420.6 228.7 1559.9 108.7% 8.7 4.10 1 477 24 164
Dec 2, 2017 1462.1 1502.4 1415.5 86.9 1435.0 98.1% -1.9 3.78 575 24 611
Dec 1, 2017 1381.8 1482.7 1300.5 182.2 1462.7 105.2% 5.2 3.85 965 23 257
Nov 30, 2017 1380.4 1468.8 1222.1 246.7 1389.8 102.2% 2.2 3.66 1 212 23 230
Nov 29, 2017 1541.6 1673.2 1332.1 341.1 1359.7 87.9% -12.1 3.58 2 345 25 942
Nov 28, 2017 1621.2 1629.5 1543.1 86.4 1546.2 95.3% -4.7 4.07 1 275 27 277
Nov 27, 2017 1722.9 1742.4 1607.8 134.6 1622.6 93.5% -6.5 4.27 1 391 28 987
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 December 4, 2017, 00:00 UTC
Data source: coinmarketcap.com

The overall index of Bitcoin Cash exchange rate change from August 1, 2017, equaled 4.1 (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 310%, with most of this growth taking place in November.

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. Ethereum Test Network Based on the Casper Protocol Prepares for Launch [source: Twitter] November 28, 2017 n/a The new improved Casper protocol for the Ethereum network may be available sooner than expected. This announcement of one of the developers has a positive effect on the cryptocurrency’s exchange rate. ETH

 

Favorable

 

2. NASDAQ Also Plans to Introduce Bitcoin Futures [source: Twitter] November 29, 2017 Q1 2018 Another of the world’s largest exchanges has announced that it plans to introduce bitcoin futures. This news shows the growing interest on the part of major players on the financial market and has a positive influence on the bitcoin exchange rate. Market Favorable

 

3. Cboe’s President Hints at Ether and Bitcoin Cash Futures [source: Businessinsider] December 1, 2017 n/a The President of the Cboe exchange in Chicago has hinted at the possibility of the issue of new Bitcoin Cash futures. 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 December 3, 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 December 3, 2017, this number had already reached 1,273.
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 December 4, 2017, 00:00 UTC
** The figures below present average data for 24 hours
Data source: coinmarketcap.com

Figure 1.1. Total cryptocurrency market capitalization**

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

** Average daily data

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to December 3, 2017. Over this period, market capitalization increased from $94,716 million to $333,820 million, a growth of 1,786% relative to the start of the year. Over the past week, total market capitalization grew from $283,044 million to $333,820 million (as of December 3, 2017). The growth was driven mainly by an increase in the market capitalization of Bitcoin and the ten dominant altcoins.

Figure 1.2. Change in market capitalization

monthly-cryptocurrency-and-ico-market-analysis-november-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 27-December 3, 2017), total cryptocurrency market capitalization increased by $50,775 million, or 18%.

Figure 1.3. Number of cryptocurrencies and digital assets

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

The total number of cryptocurrencies and digital assets listed on exchanges has grown since July from 881 to 1,273. Their number increased by 34 over the past week alone, from 1,239 to 1,273. At the same time, the average cryptocurrency and digital asset capitalization increased from $226.6 million to $262.2 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

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

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

Over the past five weeks (October 29-December 3, 2017) the cryptocurrency market almost doubled, from $170,353 million to $333,820 million. Total market capitalization exceeded $200 billion for the first time on November 3, and then $300 million on November 27, 2017. The last month was characterized by heightened interest in the cryptocurrency market, which attests to the readiness for development of this area of the financial market (for example, Bitcoin futures). Many experts forecast the continued growth in exchange rates of the main cryptocurrencies, however the risk of market fluctuations will remain high.

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

    2.1 Brief market overview, news of the week

  • Almost Half of ICO Funding Goes to Europe, Report Finds [source: Сoindesk]
  • New Zealand’s Regulator Warns Against Teenager’s NZD$220 Million ICO [source: Сryptocoinsnews]
  • Letter from Supposed Confido Lawyer Promises ICO Investors Refund [source: Сointelegraph]
  • Karpeles Coin: Mt. Gox Founder’s ICO Plans Cause Community Outrage [source: Сointelegraph]
  • “ICOs Are Absolutely Securities” Says Former SEC Boss Amid Crypto Boom [source: Сointelegraph]

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

2017

Total amount of funds collected, USD million1 330 802.9 822.6 683.5
Number of companies that completed an ICO1 35 48 72 50
Maximum collected, USD million (ICO name) 54.6

(Salt)

257

(Filecoin)

144.3 (Polkadot) 108.2

(QASH)

Average collected funds, USD million 9.4 16.7 11.4 13.7
Max token reward (ICO name) 15.18x (Neblio) 6.86x

(ICON)

8.11x (Electroneum) 7.99x

(Genesis Vision)

Average token reward (ATR)2 2.35x 1.94x 1.89x 2.72x
Weighted average current reward on funds (WACRF)3 1.88x 1.83x 2.08x 2.76x

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-November as of December 2, 2017. Consequently, token performance 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 $1.89 for projects completed in October 2017. To calculate this ratio, the authors used the data from 72 ICOs completed between October 1 and November 1, 2017. The maximum token reward for projects completed in October was 8.11x for the Electroneum ICO (based on the assessment made on December 2, 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.

The data for October and November were adjusted to account for the appearance of more complete information on past ICOs. As a result, the total amount of funds collected was $822.6 million in October 2017 and $683.5 million in November 2017. The amount collected through ICOs last week (November 20-26, 2017) equaled $147.1 million. These totals include the results of the 72 and 50 most successful completed ICOs in October and November, respectively. The largest amount collected equaled $144.3 million (Polkadot ICO, October 2017) and $108.2 million (QASH ICO, November 2017).

More detailed information on the 10 largest ICOs of November 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 (December 3, 2017) 275
The number of projects planning an ICO as of the current date (December 3, 2017) 285

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

The number of projects conducting active ICOs as of December 3, 2017, is 275. There is presently information available on at least 285 planned ICOs to be conducted after December 3, 2017.

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 802.9 48 16.73
October 822.6 72 11.4
November 683.5 50 13.7
Total 4 410.6 308 14.3

* 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 November 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

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

   2.Top ICOs

Table 2.5 shows the top 10 ICOs successfully completed in November which collected the greatest amounts of funds.

Table 2.5. Top 10 ICOs in terms of the amount of funds collected (November 2017)

Name of ICO*** Category** Collected, $ million Date
1 QASH Trading & Investing* 108.2 November 2017
2 WAX Commerce & Advertising* 68.4 November 2017
3 Gridplus Energy & Utilities* 45.7 November 2017
4 Crypto20 Trading & Investing* 38.2 November 2017
5 Ripio Finance* 37 November 2017
6 CyberMiles Infrastructure* 32 November 2017
7 Raiden Network Infrastructure* 32 November 2017
8 Quantstamp Infrastructure* 30.8 November 2017
9 Bitclave Infrastructure* 25.5 November 2017
10 UTRUST Payments 21 November 2017

* 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).

Figure 2.2. Top 10 ICOs in terms of the amount of funds collected (November 2017)

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

The leader in November was the QASH project. A brief description of this project is given below.

1. ICO category Trading & Investing
2. Period of performance Performance of the ICO: November 5-8, 2017
3. Sale of tokens during the ICO
Number of tokens offered for sale: limited

(500,000,000)

Number of tokens issued: limited

(1,000,000,000)

Price during the ICO: 1 QASH token = $0.30
Bounty programs: 20% bonus for all buyers in the first three days of the ICO
Hard cap (amount, when reached, leads to the termination of collection of additional funds): 350,000 ETH

(~$106,400,000)

Amount of funds collected: $106,400,000
4. Sources of information during and after the ICO ICO website: https://liquid.plus/

Company website: https://quoine.com/

List of key trackers:

•              Tokenmarket.net

•              icodrops.com

•              Icobench.com

•              Medium.com

•              coinhgecko.com

•              Cointelegraph.com

•              Icoquest.com

Availability of information in social networks and messengers Number of subscribers
LinkedIn More than 500
Twitter > 3 000
Telegram > 4 300
Facebook > 6 400
YouTube > 500
5. Target group Non-specific

General public

6. Description of token Holders of the QASH token can use it to pay for various services provided by the QUOINE platform, including the new Liquid platform. The token can be used to pay for the use of various trading strategies, the trading fee, and loan fees. QUOINE is a fintech company that has created two major cryptocurrency exchanges (QUOINEX and QRYPTOS).

Platform: Ethereum

7. Technology The new Liquid platform to be developed using the funds collected during the ICO is a global trading platform which will unite cryptocurrency exchanges to provide the highest possible level of liquidity. The mode of operation of the new platform can be illustrated using the following example. Let’s say client A would like to sell Ethereum (ETH) for euros (EUR), and client B would like to buy bitcoins (BTC) for US dollars (USD). The platform being developed would send a request to the foreign currency exchange on the conversion of USD to EUR, and then a request to the cryptocurrency exchange on the conversion of ETH to BTC. As a result, ETH will be debited from and EUR will be credited to the account of client A, and USD will be debited from and BTC credited to the account of client B.
8. Duration of the ICO 4 days
9. Sale of tokens on an exchange Exchange rate upon listing on the exchange on November 21, 2017: $0.48 for 1 QASH token

(CoinMarketCap.com)

Maximum exchange rate (November 29, 2017): $1.48

Minimum exchange rate (November 22, 2017): $0.41

Current exchange rate (December 4, 2017): $0.83

Capitalization (December 3, 2017): $119.6 million

Exchange rate trends: since the exchange listing (see fig. 2.3)

Figure 2.3. Price trends of the QASH token since its exchange listing (November 2017)


monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-2-3

    3. Top ICOs in their categories

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

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

Name of ICO Category** Collected, $ million Date Token performance
1 QASH Trading & Investing* 108.2 November 8, 2017 2.77x
2 Enigma Catalyst Trading & Investing 45 September 11, 2017 1.04x
3 Stox Trading & Investing 33.3 August 4, 2017 0.41x
4 Airswap Trading & Investing* 32.7 October 11, 2017 1.00x
5 Blackmooncrypto Trading & Investing 30 September 13, 2017 0.43x
6 0x Trading & Investing 24 August 16, 2017 4.52x
7 Finshi Capital Trading & Investing 21.4 October 6, 2017 n/a
8 CoinDash Trading & Investing 20 August 17, 2017 n/a
9 openANX Trading & Investing 18.8 July 4, 2017 0.49x
10 Binance Trading & Investing 15 July 3, 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 Trading & Investing category. All of these projects were performed in 2017. More than half of them performed an exchange listing on a cryptocurrency exchange. The exchange listing of the 0x ICO can be considered one of the most successful, as this project has a current token price to token sale price ratio of 4.52x. When considering this indicator, it is important to remember that the 0x ICO ended on August 16, 2017, i.e. the token performance grew 4.5 times over the course of approximately three months. The current market capitalization of 0x exceeds $109 million.

Figure 2.4. Top 10 ICOs in terms of the amount of funds collected, Trading & Investing category

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-2-4

The ratings of ICOs in the Commerce & Advertising and Energy & Utilities categories are given below.

Table 2.7. 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 5.31x
3 Airtoken Commerce & Advertising 15.0 October 7, 2017 0.76x
4 Bodhi Commerce & Advertising* 14.7 November 22, 2017 n/a
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.

The Wax project, which held its ICO in November, is the leader in this category in terms of the amount of funds collected. In second place is the Basic Attention Token project, which collected $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 $0.19. Therefore, token performance equals 5.31x. The total market capitalization of the tokens of Basic Attention Token as of December 4, 2017, was $190 million.

Figure 2.5. Top 10 ICOs in terms of the amount of funds collected, Commerce & Advertising category

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-2-5

Table 2.8. Top 4 ICOs in terms of the amount of funds collected, Energy & Utilities category

  Name of ICO Category** Collected, $ million Date Token performance
1 Gridplus Energy & Utilities* 45.7 November 11, 2017 n/a
2 Power Ledger Energy & Utilities 26.5 October 6, 2017 6.49x
3 SunContract Energy & Utilities 2.0 January 8, 2017 7.47x
3 Solar DAO Pre-ICO Energy & Utilities 0.4 September 7, 2017 n/a

* The category was established based on expert opinions.

Table 2.8 lists the top four ICOs in the Energy & Utilities category. Two of the projects listed in this category have already performed an exchange listing. Notably, the SunContract project has a current token price to token sale price ratio of 7.47x.

Figure 2.6. Top 4 ICOs in terms of the amount of funds collected, Energy & Utilities category

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-2-6

 

During November 50 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of funds collected of at least $683 million. November’s leader was the QASH project ($108.2 million).

A total of 308 ICO projects, which collected more than $4,410.6 million, have been successfully completed since the beginning of the year.

   4. Top ICOs since the beginning of 2017

Table 2.9 lists the top 10 largest ICOs in terms of the amount of funds collected, most of which belong to the Infrastructure category and were performed in 2017.

Table 2.9 Top 10 ICOs in terms of the amount of funds collected

Name Category Collected, $ million % Completed
1 Filecoin Data Storage 257 18% September 7, 2017
2 Tezos Infrastructure 232.32 16% July 13, 2017
3 EOS Stage 1 Infrastructure 185 13% July 1, 2017
4 The DAO Infrastructure 168 12% May 28, 2016
5 Bancor Infrastructure 153 11% June 12, 2017
6 Polkadot Infrastructure* 144.3 10% October 27, 2017
7 QASH Trading & Investing* 108.2 7% November 8, 2017
8 Status Infrastructure 90 6% June 20, 2017
9 TenX Payments 64 4% June 24, 2017
10 Wax Commerce & Advertising* 46.5 3% November 15, 2017
Total for top 10 1 448.32  100%  

* The category was established based on expert opinions.
** When compiling the lists of top ICOs, information from the websites tokendata.io, coinschedule.com and other specialized sources was used. The ICO project categories 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.

Figure 2.7. Top 10 ICOs in terms of the amount of funds collected since the beginning of 2017

monthly-cryptocurrency-and-ico-market-analysis-november-2017-figure-2-7

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 Bitcoin Cash, which currently have the greatest market capitalization.

ZAK-6 Crypto index calculations include the trading volume and market capitalization for six cryptocurrencies: Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and DASH.


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