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.

#Parameter1-Oct-171-Nov-17MoM, %1-Dec-17MoM, %03-Dec-17DoD, %
1Total market capitalization, USD billion147.9182.623.5%305.167.1%329.17.8%
2Altcoin market capitalization, USD billion75.975.4-0.7%134.778.7%143.86.8%
Altcoin dominance, %51.3%41.3%-19.6%44.1%7.0%43.7%-1.0%
3Bitcoin price, $4 341.16 441.048.4%10 198.658.3%11 082.78.7%
Bitcoin market capitalization, USD billion72.0107.348.9%170.458.9%185.38.7%
Bitcoin dominance, %48.7%58.7%20.7%55.9%-4.9%56.3%0.8%
4Ethereum price, $301.6305.81.4%445.245.6%463.74.2%
Ethereum market capitalization, USD billion28.629.22.0%42.846.5%44.64.2%
Ethereum dominance, %19.4%16.0%-17.6%14.0%-12.3%13.5%-3.4%
5Bitcoin Cash price, $433.4438.31.1%1 381.8215.3%1 435.43.9%
Bitcoin Cash market capitalization, USD billion7.27.31.9%23.3216.8%24.23.9%
Bitcoin Cash dominance, %4.9%4.0%-17.5%7.6%89.6%7.3%-3.7%
6Litecoin price, $55.155.71.1%88.057.9%100.213.9%
Litecoin market capitalization, USD billion2.93.02.0%4.859.2%5.413.9%
Litecoin dominance, %2.0%1.6%-17.3%1.6%-4.7%1.6%5.6%
7Smith + Crown Index9 147.012 083.032.1%18 058.049.4%20 456.013.3%
8Volume (24h) 3 crypto, USD billion1.63.5123.0%9.0157.6%9.10.9%
Market cap 3 crypto, USD billion108.2144.233.2%236.564.0%254.07.4%
ZAK-3 crypto index1.4%2.4%67.4%3.8%57.1%3.6%-6.1%
9Volume (24h) 6 crypto, USD billion4.810.0108.5%9.8-2.6%
Market cap 6 crypto, USD billion156.6257.064.0%275.37.1%
ZAK-6 crypto index3.1%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)

CryptoBitcoin (BTC)Ethereum (ETH)Bitcoin Cash (BCH)3 Crypto
 Price OpenVolume (24h)Market capPrice OpenPrice OpenVolume (24h)Market capVolume (24h)Market capVolume (24h) 3 cryptoMarket cap 3 cryptoZAK-3 Crypto index
Date$USD millionUSD million$$USD millionUSD millionUSD millionUSD millionUSD millionUSD million%
Dec 3, 201711082.76 608185 258463.799144 5611435.361 47724 1649 076253 9823.6%
Dec 2, 201710978.35 139183 490466.994444 8531462.0657524 6116 657252 9542.6%
Dec 1, 201710198.66 783170 436445.21 24842 7651381.8196523 2578 996236 4583.8%
Nov 30, 20179906.88 311165 537431.21 90341 4121380.361 21223 23011 425230 1795.0%
Nov 29, 201710077.411 569168 367473.32 67645 4421541.632 34525 94216 590239 7516.9%
Nov 28, 20179823.46 349164 104480.51 34746 1271621.171 27527 2778 970237 5083.8%
Nov 27, 20179352.75 653156 221471.51 39645 2551722.931 39128 9878 441230 4633.7%
Nov 26, 20178789.05 476146 789466.01 19844 7121571.391 59326 4358 266217 9363.8%
Nov 25, 20178241.74 342137 632475.71 42245 63316341 56027 4857 324210 7503.5%
Nov 24, 20178074.05 059134 816412.52 29339 5641651.863 12927 78210 480202 1635.2%
Nov 23, 20178232.44 225137 444381.41 84636 5771302.234 11221 89910 183195 9215.2%
Nov 22, 20178078.03 634134 851360.380134 5441175.061 51819 7595 952189 1543.1%
Nov 21, 20178205.74 278136 967367.495035 2201220.7877320 5256 000192 7123.1%
Nov 20, 20178039.13 488134 167354.180733 9331172.4380019 7105 096187 8112.7%
Nov 19, 20177766.03 149129 595347.41 18233 2851260.951 28621 1965 617184 0763.1%
Nov 18, 20177697.23 667128 425332.065031 8011197.433 05420 1267 371180 3524.1%
Nov 17, 20177853.64 652131 026330.262231 620909.163 20315 2798 477177 9254.8%
Nov 16, 20177323.25 124122 164333.479731 9271202.172 03520 2027 956174 2934.6%
Nov 15, 20176634.84 201110 667338.072332 3531269.791 32221 3366 245164 3563.8%
Nov 14, 20176561.53 197109 434316.81 07030 3171346.731 69822 6265 965162 3783.7%
Nov 13, 20175938.36 26399 029307.01 04229 3791381.824 85123 21512 156151 6238.0%
Nov 12, 20176295.58 957104 980314.71 61330 1061346.978 37122 61418 942157 70112.0%
Nov 11, 20176618.64 909110 362298.684228 5591001.645 14016 80710 891155 7297.0%
Nov 10, 20177173.75 208119 607320.788630 665651.775 19510 93311 290161 2057.0%
Nov 9, 20177446.83 226124 146308.689329 509622.3171010 4384 830164 0932.9%
Nov 8, 20177141.44 602119 041294.396828 129615.2483810 3186 408157 4874.1%
Nov 7, 20177023.12 326117 056298.654128 533602.6837510 1053 242155 6952.1%
Nov 6, 20177403.23 112123 379296.457928 323630.3179410 5674 485162 2682.8%
Nov 5, 20177404.52 380123 388300.033828 662619.9181610 3913 534162 4402.2%
Nov 4, 20177164.52 484119 376305.541629 175635.351 16110 6474 062159 1992.6%
Nov 3, 20177087.53 370118 084288.564627 547587.321 6829 8405 698155 4713.7%
Nov 2, 20176777.84 654112 910290.790527 754527.681 6328 8407 191149 5044.8%

* Data as of 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)

CryptoRipple (XRP)Dash (DASH)Litecoin (LTC)6 Crypto
 Price OpenVolume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h)Market capZAK-6 Crypto index
Date$USD millionUSD million$USD millionUSD million$USD millionUSD millionUSD millionUSD million%
Dec 3, 20170.25551359 869778.781926 016100.193645 4209 767275 2873.5%
Dec 2, 20170.25571189 874797.901886 16298.944035 3517 366274 3412.7%
Dec 1, 20170.25041839 669787.472866 080885614 75910 027256 9663.9%
Nov 30, 20170.24642719 518681.134995 25786.254824 66212 677249 6175.1%
Nov 29, 20170.297954111 505626.264164 83396.017875 18918 334261 2767.0%
Nov 28, 20170.25407219 812632.441504 87991.723894 95510 230257 1544.0%
Nov 27, 20170.24831979 590621.151354 79185.894304 6399 202249 4823.7%
Nov 26, 20170.25291339 768641.461464 94688.943574 8028 903237 4523.7%
Nov 25, 20170.24422139 431566.962434 37077.914884 2058 267228 7573.6%
Nov 24, 20170.24292119 380564.341294 34973.142873 94711 108219 8385.1%
Nov 23, 20170.23902419 231577.251744 44771.983153 88310 913213 4825.1%
Nov 22, 20170.23261678 985494.763823 81170.181583 7856 659205 7353.2%
Nov 21, 20170.23802189 191500.242453 85272.22323 8936 695209 6493.2%
Nov 20, 20170.23132158 935442.031053 40371.411893 8495 604203 9982.7%
Nov 19, 20170.22811948 811455.36833 50569.512433 7466 137200 1383.1%
Nov 18, 20170.22651448 750424.351453 26567.411743 6317 834195 9984.0%
Nov 17, 20170.22483978 681420.59953 23670.453513 7949 320193 6364.8%
Nov 16, 20170.21271 0238 213424.51973 26563.814183 4369 494189 2075.0%
Nov 15, 20170.20891008 070428.081033 29162.781953 3796 643179 0963.7%
Nov 14, 20170.20371277 867428.311243 29261.641743 3176 390176 8543.6%
Nov 13, 20170.19751337 609507.053113 89759.182373 18412 837166 3127.7%
Nov 12, 20170.21022518 100345.684762 65662.313233 35119 992171 80811.6%
Nov 11, 20170.20591357 935331.43892 54659.352723 19111 386169 4016.7%
Nov 10, 20170.21831418 410325.271162 49864.442923 46411 839175 5766.7%
Nov 9, 20170.21791488 396315.481112 42262.492803 3585 368178 2693.0%
Nov 8, 20170.21071578 118293.041042 24961.113493 2837 018171 1374.1%
Nov 7, 20170.20511147 903274.87922 10954.994032 9533 852168 6602.3%
Nov 6, 20170.20201027 782273.47602 09854.761342 9404 782175 0892.7%
Nov 5, 20170.2033477 832274.33412 10455.03842 9543 706175 3312.1%
Nov 4, 20170.2081748 018278.58492 13656.22843 0174 269172 3692.5%
Nov 3, 20170.20623737 945263.89632 02154.581502 9286 285168 3663.7%
Nov 2, 20170.19461987 498271.79722 08153.562212 8737 682161 9564.7%

* 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 newsDate of event*DescriptionNature of impactType of impact
1.                    The Cryptocurrency Market Surpasses $300 Billion [source: Сoinmarketcap]November 27, 2017November 27, 2017The 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, 2017November 27, 2017The 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, 2017November 27, 2017The 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, 2017November 28, 2017Regulation 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, 2017November 29, 2017The 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, 2017November 29, 2017For 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, 2017November 29, 2017Several 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, 2017November 30, 2017The 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, 2017November 30, 2017One 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, 2017December 1, 2017The 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)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index,

rate to start of year

Volume (24h), USD millionMarket cap, USD million
Dec 3, 201711 082.711 858.710 862.0996.711 323.2102.2%2.211.346 608185 258
Dec 2, 201710 978.311 320.210 905.1415.111 074.6100.9%0.911.095 139183 490
Dec 1, 201710 198.611 046.79 694.71 352.110 975.6107.3%7.310.996 783170 436
Nov 30, 20179 906.810 801.09 202.11 599.010 233.6103.5%3.510.258 311165 537
Nov 29, 201710 077.411 517.49 601.01 916.49 888.698.3%-1.79.9111 569168 367
Nov 28, 20179 823.410 125.79 736.3389.410 058.8102.4%2.410.086 349164 104
Nov 27, 20179 352.79 818.49 352.7465.69 818.4105.2%5.29.835 653156 221
Nov 26, 20178 789.09 522.98 775.6747.39 330.6106.1%6.19.355 476146 789
Nov 25, 20178 241.78 790.98 191.2599.88 790.9106.5%6.58.814 342137 632
Nov 24, 20178 074.08 374.27 940.9433.28 253.7102.7%2.78.275 059134 816
Nov 23, 20178 232.48 267.48 038.8228.68 038.897.4%-2.68.054 225137 444
Nov 22, 20178 078.08 302.38 075.5226.88 253.6102.3%2.38.273 634134 851
Nov 21, 20178 205.78 348.77 762.7586.08 071.398.4%-1.68.084 278136 967
Nov 20, 20178 039.18 336.97 949.4387.58 200.6102.0%2.08.213 488134 167
Nov 19, 20177 766.08 101.97 694.1407.88 036.5103.2%3.28.053 149129 595
Nov 18, 20177 697.27 885.07 463.4421.67 790.2101.1%1.17.803 667128 425
Nov 17, 20177 853.68 004.67 561.1443.57 709.097.9%-2.17.724 652131 026
Nov 16, 20177 323.27 967.47 176.6790.87 871.7107.6%7.67.885 124122 164
Nov 15, 20176 634.87 342.36 634.8707.57 315.5110.2%10.27.334 201110 667
Nov 14, 20176 561.56 765.06 461.8303.26 635.8101.2%1.26.653 197109 434
Nov 13, 20175 938.36 811.25 844.3966.96 559.5110.2%10.26.576 26399 029
Nov 12, 20176 295.56 625.15 519.01 106.05 950.193.6%-6.45.968 957104 980
Nov 11, 20176 618.66 873.26 204.2668.96 357.696.1%-3.96.374 909110 362
Nov 10, 20177 173.77 312.06 436.9875.16 618.192.6%-7.46.635 208119 607
Nov 9, 20177 446.87 446.87 101.5345.37 143.695.8%-4.27.163 226124 146
Nov 8, 20177 141.47 776.47 114.0662.47 459.7104.4%4.47.474 602119 041
Nov 7, 20177 023.17 253.37 023.1230.27 144.4101.7%1.77.162 326117 056
Nov 6, 20177 403.27 445.87 007.3438.57 022.894.8%-5.27.033 112123 379
Nov 5, 20177 404.57 617.57 333.2284.37 407.4100.4%0.47.422 380123 388
Nov 4, 20177 164.57 492.97 031.3461.67 380.0102.4%2.47.392 484119 376
Nov 3, 20177 087.57 461.37 002.9458.47 207.8101.8%1.87.223 370118 084
Nov 2, 20176 777.87 367.36 758.7608.67 078.5104.6%4.67.094 654112 910
Nov 1, 20176 441.06 767.36 377.9389.46 767.3104.6%4.66.782 870107 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)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index,

rate to start of year

Volume (24h), USD millionMarket cap, USD million
Dec 3, 2017463.70482.8451.8531.0465.85100.5%0.557.0299144 561
Dec 2, 2017466.85476.2456.6519.6463.4599.3%-0.756.7394444 853
Dec 1, 2017445.21472.6428.3144.3466.54104.3%4.357.101 24842 765
Nov 30, 2017431.21465.5401.2464.3447.11104.6%4.654.731 90341 412
Nov 29, 2017473.28522.3425.0797.2427.5290.4%-9.652.332 67645 442
Nov 28, 2017480.52482.5466.3516.1472.9098.4%-1.657.881 34746 127
Nov 27, 2017471.53493.4468.4924.9480.36101.9%1.958.801 39645 255
Nov 26, 2017465.97472.7451.6121.1471.33101.1%1.157.691 19844 712
Nov 25, 2017475.68485.2461.0524.1466.2898.2%-1.857.071 42245 633
Nov 24, 2017412.50481.0402.7678.2474.91115.8%15.858.132 29339 564
Nov 23, 2017381.44425.6376.0949.5410.17107.8%7.850.201 84636 577
Nov 22, 2017360.31381.4360.1521.3380.65105.6%5.646.5980134 544
Nov 21, 2017367.44372.5350.6921.8360.4098.3%-1.744.1195035 220
Nov 20, 2017354.09372.1353.2918.9366.73103.5%3.544.8980733 933
Nov 19, 2017347.40371.3344.7426.6354.39102.0%2.043.381 18233 285
Nov 18, 2017331.98349.6327.6921.9347.61104.6%4.642.5565031 801
Nov 17, 2017330.17335.0327.527.4332.39100.4%0.440.6862231 620
Nov 16, 2017333.44336.2323.6112.6330.9299.3%-0.740.5079731 927
Nov 15, 2017337.96340.9329.8111.1333.3698.7%-1.340.8072332 353
Nov 14, 2017316.76340.2316.7623.4337.63106.6%6.641.331 07030 317
Nov 13, 2017307.02328.4307.0221.4316.72102.9%2.938.771 04229 379
Nov 12, 2017314.69319.2298.5120.6307.9197.8%-2.237.691 61330 106
Nov 11, 2017298.59319.5298.1921.3314.68105.2%5.238.5284228 559
Nov 10, 2017320.67324.7294.5430.2299.2593.3%-6.736.6388630 665
Nov 9, 2017308.64329.5307.0622.4320.88103.8%3.839.2889329 509
Nov 8, 2017294.27318.7293.1025.6309.07104.9%4.937.8396828 129
Nov 7, 2017298.57304.8290.7714.1294.6698.6%-1.436.0754128 533
Nov 6, 2017296.43305.4293.7211.7298.89100.9%0.936.5857928 323
Nov 5, 2017300.04301.4295.126.3296.2698.6%-1.436.2633828 662
Nov 4, 2017305.48305.5295.809.7300.4798.3%-1.736.7841629 175
Nov 3, 2017288.50308.3287.6920.6305.71106.4%6.437.4264627 547
Nov 2, 2017290.73293.9281.1712.7287.4398.5%-1.535.1890527 754
Nov 1, 2017305.76306.4290.5815.8291.6995.4%-4.635.7055429 184

* Data as of 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)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index,

rate to start of year

Volume (24h), USD millionMarket cap, USD million
Dec 3, 20171435.41649.31420.6228.71559.9108.7%8.74.101 47724 164
Dec 2, 20171462.11502.41415.586.91435.098.1%-1.93.7857524 611
Dec 1, 20171381.81482.71300.5182.21462.7105.2%5.23.8596523 257
Nov 30, 20171380.41468.81222.1246.71389.8102.2%2.23.661 21223 230
Nov 29, 20171541.61673.21332.1341.11359.787.9%-12.13.582 34525 942
Nov 28, 20171621.21629.51543.186.41546.295.3%-4.74.071 27527 277
Nov 27, 20171722.91742.41607.8134.61622.693.5%-6.54.271 39128 987
Nov 26, 20171571.41758.61563.4195.31735.7110.5%10.54.571 59326 435
Nov 25, 20171634.01656.61535.8120.81571.395.3%-4.74.131 56027 485
Nov 24, 20171651.91782.81575.8207.11648.597.9%-2.14.343 12927 782
Nov 23, 20171302.21683.81300.0383.91683.8129.2%29.24.434 11221 899
Nov 22, 20171175.11335.31171.6163.71303.3110.7%10.73.431 51819 759
Nov 21, 20171220.81224.21140.983.31177.095.2%-4.83.1077320 525
Nov 20, 20171172.41236.01167.368.71236.0105.5%5.53.2580019 710
Nov 19, 20171261.01262.31144.1118.31172.193.4%-6.63.081 28621 196
Nov 18, 20171197.41388.11197.4190.71254.5105.8%5.83.303 05420 126
Nov 17, 2017909.21217.4864.0353.41185.5131.6%31.63.123 20315 279
Nov 16, 20171202.21210.4876.6333.8900.874.3%-25.72.372 03520 202
Nov 15, 20171269.81326.41192.0134.41212.495.2%-4.83.191 32221 336
Nov 14, 20171346.71390.21211.4178.81273.594.1%-5.93.351 69822 626
Nov 13, 20171381.81501.21043.0458.21354.097.5%-2.53.564 85123 215
Nov 12, 20171347.02477.71215.61262.11388.9103.6%3.63.658 37122 614
Nov 11, 20171001.61403.7910.7492.91340.5133.1%33.13.535 14016 807
Nov 10, 2017651.81034.8651.8383.01007.4154.0%54.02.655 19510 933
Nov 9, 2017622.3670.1619.350.9654.3105.1%5.11.7271010 438
Nov 8, 2017615.2646.4565.680.8622.5101.0%1.01.6483810 318
Nov 7, 2017602.7626.2602.523.8616.3102.3%2.31.6237510 105
Nov 6, 2017630.3657.3602.754.7602.795.6%-4.41.5979410 567
Nov 5, 2017619.9635.7579.156.6630.7101.7%1.71.6681610 391
Nov 4, 2017635.4642.1571.170.9620.599.2%-0.81.631 16110 647
Nov 3, 2017587.3684.5577.9106.7625.3106.5%6.51.651 6829 840
Nov 2, 2017527.7610.4514.595.9587.2110.4%10.41.551 6328 840
Nov 1, 2017438.3538.3437.9100.4531.8121.1%21.11.401 1527 342

* Data as of 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 newsDate of event*DescriptionNature of impactType of impact
1.Ethereum Test Network Based on the Casper Protocol Prepares for Launch [source: Twitter]November 28, 2017n/aThe 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, 2017Q1 2018Another 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, 2017n/aThe 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 FiguresFigure**Description
Total cryptocurrency market capitalization, USD millionFig. 1.1This figure shows cryptocurrency and digital asset market capitalization trends from July 2, 2017.
The rate of market change (as a % compared to the beginning of the year)Fig. 1.1This figure shows the % change in cryptocurrency and digital asset market capitalization compared to January 1, 2017.
Change in the market capitalization (in USD million compared to the previous period)Fig. 1.2This figure shows the weekly change in USD million (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
The rate of market change (as a % compared to the previous period)Fig. 1.2This figure shows the % of weekly change (increase or decrease) in cryptocurrency and digital asset market capitalization from July 2, 2017.
Number of cryptocurrencies and digital assetsFig.1.3This figure shows the trends in the increase of the number of cryptocurrencies and digital assets circulating on cryptocurrency exchanges. On January 1, 2017, their number was 617, and as of December 3, 2017, this number had already reached 1,273.
Average market capitalization, USD millionFig. 1.3This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from July 2, 2017, i.e. the ratio between the market capitalization of all cryptocurrencies and digital assets and their number.
Forecast of total cryptocurrency market capitalizationFig. 1.4, 1.5This figure shows the time trend (forecast) change in cryptocurrency and digital asset market capitalization.

* Data as of 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

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

 

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

 

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

IndicatorAugust

2017

September

2017

October

2017

November

2017

Total amount of funds collected, USD million1330802.9822.6683.5
Number of companies that completed an ICO135487250
Maximum collected, USD million (ICO name)54.6

(Salt)

257

(Filecoin)

144.3 (Polkadot)108.2

(QASH)

Average collected funds, USD million9.416.711.413.7
Max token reward (ICO name)15.18x (Neblio)6.86x

(ICON)

8.11x (Electroneum)7.99x

(Genesis Vision)

Average token reward (ATR)22.35x1.94x1.89x2.72x
Weighted average current reward on funds (WACRF)31.88x1.83x2.08x2.76x

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

IndicatorValue 
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

MonthCollected, $ millionNumber of ICOs*Average collected, $ million
January4.531.5
February9.751.94
March4.731.57
April127.8177.52
May168.41610.53
June995.23033.17
July461.32915.91
August330.0359.43
September802.94816.73
October822.67211.4
November683.55013.7
Total4 410.630814.3

* 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, $ millionDate
1QASHTrading & Investing*108.2November 2017
2WAXCommerce & Advertising*68.4November 2017
3GridplusEnergy & Utilities*45.7November 2017
4Crypto20Trading & Investing*38.2November 2017
5RipioFinance*37November 2017
6CyberMilesInfrastructure*32November 2017
7Raiden NetworkInfrastructure*32November 2017
8QuantstampInfrastructure*30.8November 2017
9BitclaveInfrastructure*25.5November 2017
10UTRUSTPayments21November 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 categoryTrading & Investing
2.Period of performancePerformance 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 ICOICO 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 messengersNumber of subscribers
LinkedInMore than 500
Twitter> 3 000
Telegram> 4 300
Facebook> 6 400
YouTube> 500
5. Target groupNon-specific

General public

6.Description of tokenHolders 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.TechnologyThe 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 ICO4 days
9.Sale of tokens on an exchangeExchange 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 ICOCategory**Collected, $ millionDateToken performance
1QASHTrading & Investing*108.2November 8, 20172.77x
2Enigma CatalystTrading & Investing45September 11, 20171.04x
3StoxTrading & Investing33.3August 4, 20170.41x
4AirswapTrading & Investing*32.7October 11, 20171.00x
5BlackmooncryptoTrading & Investing30September 13, 20170.43x
60xTrading & Investing24August 16, 20174.52x
7Finshi CapitalTrading & Investing21.4October 6, 2017n/a
8CoinDashTrading & Investing20August 17, 2017n/a
9openANXTrading & Investing18.8July 4, 20170.49x
10BinanceTrading & Investing15July 3, 2017n/a

* The category was established based on expert opinions.
** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, coinschedule.com and other specialized sources was used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.

Table 2.6 lists the top 10 ICOs in the 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 ICOCategory**Collected, $ millionDateToken performance
1WaxCommerce & Advertising*46.5November 15, 2017n/a
2Basic Attention TokenCommerce & Advertising35.0May 31, 20175.31x
3AirtokenCommerce & Advertising15.0October 7, 20170.76x
4BodhiCommerce & Advertising*14.7November 22, 2017n/a
5AdExCommerce & Advertising11.4June 30, 20174.88x
6SpankchainCommerce & Advertising*7.2November 13, 2017n/a
7SomaCommerce & Advertising*6November 15, 2017n/a
8IndaHashCommerce & Advertising*4.8November 14, 2017n/a
9Zap StoreCommerce & Advertising*2.8November 20, 2017n/a
10AltocarCommerce & Advertising*2.3November 9, 2017n/a

* The category was established based on expert opinions.

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 ICOCategory**Collected, $ millionDateToken performance
1GridplusEnergy & Utilities*45.7November 11, 2017n/a
2Power LedgerEnergy & Utilities26.5October 6, 20176.49x
3SunContractEnergy & Utilities2.0January 8, 20177.47x
3Solar DAO Pre-ICOEnergy & Utilities0.4September 7, 2017n/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

NameCategoryCollected, $ million%Completed
1FilecoinData Storage25718%September 7, 2017
2TezosInfrastructure232.3216%July 13, 2017
3EOS Stage 1Infrastructure18513%July 1, 2017
4The DAOInfrastructure16812%May 28, 2016
5BancorInfrastructure15311%June 12, 2017
6PolkadotInfrastructure*144.310%October 27, 2017
7QASHTrading & Investing*108.27%November 8, 2017
8StatusInfrastructure906%June 20, 2017
9TenXPayments644%June 24, 2017
10WaxCommerce & Advertising*46.53%November 15, 2017
Total for top 101 448.32 100% 

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

Current token price

Token sale price during the ICO.

Current token price.

Not Mineable

 

A coin that is not mineable. The term is used for cryptocurrencies (tokens) which cannot be mined or issued through mining.
Pre-minedA pre-mined coin. The term is used for cryptocurrencies (tokens) which are issued through mining, and a certain number of coins (tokens) have been created and distributed among certain users at the start of the project.
The rate of market increase (as a % compared to the beginning of the year)The rate of market increase (as a % compared to the start of the year), i.e. by how many % points did market capitalization increase compared to the start of the year.
The growth rate of the market (as a % compared to the beginning of the year)The market growth (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the start of the year.
Increase in market capitalization (in USD million compared to the previous period)Increase in cryptocurrency and digital asset market capitalization (in USD million compared to the previous period), i.e. by how many USD million did market capitalization increase over the period.
The rate of market increase (as a % compared to the previous period)Rate of market increase (as a % compared to the previous period), i.e. by how many % points did market capitalization increase over the period.
The market growth rate (as a % compared to the previous period)Market growth rate (as a % compared to the previous period), i.e. by how many times did market capitalization grow compared to the previous period.
Number of cryptocurrencies and digital assetsNumber of cryptocurrencies and digital assets. At the time when this glossary was compiled over 1,070 cryptocurrencies and digital assets were circulating on the market.
Average market capitalizationAverage market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number.
Token returnPerformance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance of $1 spent on buying tokens during the token sale, if listed on an exchange for USD.
ETH reward – current dollar value of $1 spent on buying tokens during the token saleAlternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH rate to its rate at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH rate.
BTC reward– current dollar value of $1 spent on buying tokens during the token saleSimilar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its rate at the start of the token sale and then it was sold at the current BTC rate.
Token/ETH rewardThis ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH.
Token/BTC rewardThis ratio describes the backer’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the backer spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC.
ZAK-n Crypto indexThe index is calculated as a percentage and represents a ratio between the 24-hour trading volume (transactions) on cryptocurrency exchanges per day (Volume 24h) for n dominant cryptocurrencies to their total market capitalization.

ZAK-3 Crypto index calculations include three dominant cryptocurrencies: Bitcoin, Ethereum, and 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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