Coinspeaker partnered with ICOBox to provide our readers with this weekly analysis conducted by Professor Dima Kornilov and Dima Zaitsev devoted to cryptocurrency and digital assets markets taken place since the beginning of December 2017, including over the last week (December 18-24, 2017).

Information as of December 24, 2017

This report was created by:

This report presents data on the cryptocurrency and ICO market changes that took place in the third and fourth quarters, with special emphasis on an analysis of the changes that have taken place since the beginning of December 2017, including over the last week (December 18-24, 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 capitalization of the cryptocurrency market and main cryptocurrencies from November 1, 2017, to December 24, 2017

Parameter1-Nov-171-Dec-17MoM, %3-Dec-17DoD, %10-Dec-17DoD, %17-Dec-17DoD, %24-Dec-17DoD, %
1Total market capitalization, USD billion182.6305.167.1%329.17.8%416.926.7%579.539.0%566.3-2.3%
2Altcoin market capitalization, USD billion75.4134.778.7%143.86.8%163.113.4%253.455.4%321.526.9%
Altcoin dominance, %41.3%44.1%7.0%43.7%-1.0%39.1%-10.5%43.7%11.8%56.8%29.8%
3Bitcoin price, $6 441.010 198.658.3%11 082.78.7%15 168.436.9%19 475.828.4%14 608.2-25.0%
Bitcoin market capitalization, USD billion107.3170.458.9%185.38.7%253.837.0%326.128.5%244.8-24.9%
Bitcoin dominance, %58.7%55.9%-4.9%56.3%0.8%60.9%8.1%56.3%-7.6%43.2%-23.2%
4Ethereum price, $305.8445.245.6%463.74.2%472.82.0%696.247.3%721.83.7%
Ethereum market capitalization, USD billion29.242.846.5%44.64.2%45.52.1%67.147.5%69.73.8%
Ethereum dominance, %16.0%14.0%-12.3%13.5%-3.4%10.9%-19.4%11.6%6.1%12.3%6.2%
5Bitcoin Cash price, $438.31 381.8215.3%1 435.43.9%1 411.8-1.6%1 812.328.4%3 260.679.9%
Bitcoin Cash market capitalization, USD billion7.323.3216.8%24.23.9%23.8-1.6%30.628.5%55.080.0%
Bitcoin Cash dominance, %4.0%7.6%89.6%7.3%-3.7%5.7%-22.3%5.3%-7.6%9.7%84.3%
6Litecoin price, $55.788.057.9%100.213.9%155.655.3%301.893.9%291.0-3.6%
Litecoin market capitalization, USD billion3.04.859.2%5.413.9%8.455.7%16.494.3%15.8-3.4%
Litecoin dominance, %1.6%1.6%-4.7%1.6%5.6%2.0%22.9%2.8%39.8%2.8%-1.1%
7Smith + Crown Index12 08318 05849.4%20 45613.3%25 89126.6%34 98935.1%28 997-17.1%
8Volume (24h) 4 crypto, USD billion3.59.29.20.3%15.972.9%17.38.6%16.3-5.5%
Market cap 4 crypto, USD billion144.2246.1263.97.2%332.626.0%453.036.2%415.0-8.4%
ZAK-4 Crypto index2.4%3.7%3.5%-6.4%4.8%37.1%3.8%-20.3%3.9%3.2%
9Volume (24h) 8 crypto, USD billion10.39.9-3.4%17.980.5%20.413.6%18.0-11.6%
Market cap 8 crypto, USD billion263.5282.77.3%363.828.7%498.237.0%461.5-7.4%
ZAK-8 Crypto index3.9%3.5%-9.9%4.9%40.3%4.1%-17.0%3.9%-4.6%

* Data as of December 24, 2017, 00:00 UTC
** After December 1, 2017, the structure of the cryptocurrency market changed, so the subsequent figures of the ZAK-4 index were calculated using the cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, and Ripple.
*** Due to the change in December in the structure of the top eight cryptocurrencies by capitalization, the ZAK-8 index was calculated using the cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, https://www.coinspeaker.com/coins/dash, IOTA and Cardano.
Data source: coinmarketcap.com, https://www.smithandcrown.com

During the period from December 17-24, 2017, total cryptocurrency market capitalization decreased by approximately $13 billion, from $579.5 billion to $566.3 billion (as of December 24, 2017, 00:00 UTC, see Table 1.1).

Figure 1 shows how the cryptocurrency market reacted to the issue of Bitcoin futures on the largest commodities exchange in the world, CME Group, on December 18. At first, total market capitalization increased to $650 billion (on December 21, 2017), but by December 22, 2017, it had already fallen to $422 billion, i.e. by approximately 35%.

Figure 1. Trends in total cryptocurrency market capitalization during the period December 17-24, 2017

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-1

Data source: coinmarketcap.com

On December 22, 2017, a fall in prices was seen for most cryptocurrencies, including all the top 20 by capitalization.

Thus, over the past week (December 18-24, 2017) a noticeable reduction in Bitcoin capitalization, by approximately $80 billion from $326.1 billion to $244.8 billion, was seen, with its dominance falling from 56.3% to 43.2%. Despite the overall market decline on December 22, 2017, over the past week the growth in altcoin capitalization equaled roughly $70 billion, increasing from 253.4 billion to 321.5 billion (Table 1.1).

During the period from December 18-24, the Bitcoin exchange rate dropped by 25%, while the exchange rate of its competitor Bitcoin Cash increased by nearly 80% (Table 1.1).

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

The Smith + Crown Index decreased over the indicated period from 34,989 to 28,997.

To analyze trading activity on cryptocurrency exchanges, the ZAK-n Crypto index is calculated (see the Glossary). The values of the ZAK-4 Crypto and ZAK-8 Crypto indices are presented in Tables 1.1, 1.2.a, and 1.2.b. For example, on December 20 and 22, 2017, the 24-hour trading volumes (Volume 24h) for the four dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, and Ripple) equaled $39 billion and $35.7 billion, respectively (Table 1.2.a). The value of the ZAK-4 Crypto equaled 8.6% and 8%, respectively, which attests to the extremely high liquidity and market dynamism of the dominant cryptocurrencies.

Table 1.2.а. Daily ZAK-4 Crypto index calculation (from December 1, 2017, to December 24, 2017)

CryptoBitcoin (BTC)Ethereum (ETH)Bitcoin Cash (BCH)Ripple (XRP)4 Crypto
 Price Open Volume (24h)Market capPrice Open Volume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h) 4 cryptoMarket cap 4 cryptoZAK-4 Crypto index
Date$USD billionUSD billion$USD billionUSD billion$USD billionUSD billion$USD billionUSD billionUSD billionUSD billion%
Dec 24, 201714 608 11.6 244.87222.3 69.732611.7 55.0 1.1800.8 45.5 16.3 415.0 3.9%
Dec 23, 201713 949 13.1 233.76812.5 65.827472.8 46.3 1.1701.5 45.2 19.9 391.0 5.1%
Dec 22, 201715 898 22.2 266.48235.0 79.433243.9 56.1 1.1704.6 45.2 35.7 447.0 8.0%
Dec 21, 201716 642 16.5 278.88203.6 79.139093.7 65.9 0.7833.6 30.3 27.4 454.2 6.0%
Dec 20, 201717 760 22.1 297.58284.0 79.8282511.9 47.6 0.7871.0 30.5 39.0 455.5 8.6%
Dec 19, 201719 118 16.9 320.27944.1 76.621993.9 37.1 0.7771.4 30.1 26.4 464.0 5.7%
Dec 18, 201719 106 14.8 320.07223.2 69.618692.5 31.5 0.7281.3 28.2 22.0 449.3 4.9%
Dec 17, 201719 476 13.3 326.16962.1 67.118121.0 30.6 0.7540.8 29.2 17.3 453.0 3.8%
Dec 16, 201717 760 12.7 297.46862.2 66.118251.0 30.8 0.7551.3 29.3 17.2 423.5 4.1%
Dec 15, 201716 601 14.3 277.96962.8 67.119751.5 33.3 0.8623.2 33.4 21.7 411.7 5.3%
Dec 14, 201716 385 13.8 274.37013.8 67.516012.7 27.0 0.4716.4 18.2 26.7 387.0 6.9%
Dec 13, 201717 500 13.0 292.96454.5 62.116171.2 27.2 0.3732.7 14.4 21.5 396.7 5.4%
Dec 12, 201716 920 14.6 283.25225.2 50.314271.4 24.1 0.2521.6 9.8 22.7 367.3 6.2%
Dec 11, 201715 427 12.2 258.14401.8 42.413200.9 22.2 0.2370.2 9.2 15.0 331.9 4.5%
Dec 10, 201715 168 13.4 253.84731.4 45.514120.9 23.8 0.2460.2 9.5 15.9 332.6 4.8%
Dec 9, 201716 523 13.9 276.44572.0 44.014651.1 24.7 0.2520.2 9.8 17.2 354.9 4.8%
Dec 8, 201717 803 21.1 297.84352.3 41.813292.6 22.4 0.2240.7 8.7 26.7 370.7 7.2%
Dec 7, 201714 266 18.0 238.64262.1 41.014311.3 24.1 0.2330.3 9.0 21.6 312.7 6.9%
Dec 6, 201711 923 12.7 199.44632.0 44.514981.2 25.2 0.2450.3 9.5 16.1 278.6 5.8%
Dec 5, 201711 686 6.9 195.44701.2 45.215801.0 26.6 0.2540.2 9.8 9.3 277.0 3.4%
Dec 4, 201711 315 6.1 189.24661.0 44.815600.8 26.3 0.2530.1 9.8 8.0 270.0 3.0%
Dec 3, 201711 083 6.6 185.34641.0 44.614351.5 24.2 0.2560.1 9.9 9.2 263.9 3.5%
Dec 2, 201710 978 5.1 183.54670.9 44.914620.6 24.6 0.2560.1 9.9 6.8 262.8 2.6%
Dec 1, 201710 199 6.8 170.44451.2 42.813821.0 23.3 0.2500.2 9.7 9.2 246.1 3.7%

* Data as of December 25, 2017, 00:00 UTC
** Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the eight dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Dash, IOTA, and Cardano) reached $18 billion at the end of last week (Table 1.2.b), i.e. 3.9% of their market capitalization. The ZAK-4 Crypto and ZAK-8 Crypto indices are considered in more detail in Tables 1.2.a and 1.2.b.

Table 1.2.b. Daily ZAK-8 Crypto index calculation (continuation of Table 1.2.а)

CryptoIOTA (MIOTA)Cardano (ADA)Dash (DASH)Litecoin (LTC)8 Crypto
 Price OpenVolume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capPrice OpenVolume (24h)Market capVolume (24h)Market capZAK-8 Crypto index
Date$USD billionUSD billion$USD billionUSD billion$USD billionUSD billion$USD billionUSD billionUSD billionUSD billion%
Dec 24, 20173.610.2 9.8 0.4170.1 10.8 12870.2 10.0 2911.115.8 18.0 461.5 3.9%
Dec 23, 20173.510.8 14.1 0.4140.1 10.7 11990.3 9.3 2691.414.7 22.5 439.8 5.1%
Dec 22, 20175.080.4 14.1 0.4790.2 12.4 14420.5 11.2 3192.917.4 39.7 502.1 7.9%
Dec 21, 20175.080.6 14.9 0.4900.2 12.7 15560.5 12.1 3151.617.1 30.2 511.0 5.9%
Dec 20, 20175.371.1 11.8 0.5340.2 13.8 11850.8 9.2 3502.119.0 43.2 509.3 8.5%
Dec 19, 20174.240.4 11.0 0.5200.3 13.5 11650.3 9.0 3592.219.5 29.5 517.0 5.7%
Dec 18, 20173.950.4 10.1 0.5120.3 13.3 11100.3 8.6 3192.017.3 24.8 498.7 5.0%
Dec 17, 20173.650.3 10.9 0.3870.6 10.0 10150.5 7.9 3021.716.4 20.4 498.2 4.1%
Dec 16, 20173.910.4 10.5 0.2130.6 5.5 9010.2 7.0 2991.316.3 19.7 462.8 4.3%
Dec 15, 20173.770.6 11.3 0.2330.2 6.0 9430.2 7.3 2812.615.3 25.3 451.6 5.6%
Dec 14, 20174.060.5 13.1 0.1340.3 3.5 8840.3 6.9 3012.116.4 29.9 426.7 7.0%
Dec 13, 20174.720.7 11.9 0.1340.1 3.5 9250.3 7.2 3153.417.1 25.9 436.3 5.9%
Dec 12, 20174.260.4 11.5 0.1210.1 3.1 7660.4 5.9 2127.011.5 30.5 399.4 7.6%
Dec 11, 20174.140.6 12.9 0.1090.0 2.8 6890.2 5.3 1482.98.0 18.8 361.1 5.2%
Dec 10, 20174.660.7 14.0 0.1200.0 3.1 7230.2 5.6 1561.18.4 17.9 363.8 4.9%
Dec 9, 20175.050.9 11.5 0.1150.1 3.0 7280.2 5.6 1272.46.9 20.8 381.9 5.5%
Dec 8, 20174.141.3 12.4 0.1060.1 2.8 7010.3 5.4 981.55.3 29.8 396.6 7.5%
Dec 7, 20174.472.1 10.6 0.1180.1 3.1 7000.2 5.4 1000.65.4 24.7 337.2 7.3%
Dec 6, 20173.811.4 7.8 0.1270.1 3.3 7560.2 5.8 1020.55.5 18.4 301.1 6.1%
Dec 5, 20172.801.1 5.3 0.1360.1 3.5 7750.2 6.0 1040.35.6 11.0 297.4 3.7%
Dec 4, 20171.890.4 4.0 0.1320.1 3.4 7710.2 6.0 1010.35.5 9.0 288.9 3.1%
Dec 3, 20171.440.1 3.9 0.1320.0 3.4 7790.2 6.0 1000.45.4 9.9 282.7 3.5%
Dec 2, 20171.420.1 3.6 0.1320.1 3.4 7980.2 6.2 990.45.4 7.6 281.4 2.7%
Dec 1, 20171.310.2 3.5 0.1170.1 3.0 7870.3 6.1 880.64.8 10.3 263.5 3.9%

 

Table 1.3 shows the key events of the week (December 18-24, 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, December 18-24, 2017

Factors and events

(link to source)

Date of newsDate of event*DescriptionNature of impactType of impact
1.                    Bitcoin Bounces Back Following 4pc Drop After New Futures Contracts Launched [source: Telegraph.co.uk]December 18, 2017December 18, 2017The promised launch of bitcoin futures has taken place.Market

BTC

Favorable,

ambiguous

 

2.                    Bitcoin Fees Have Become Infeasible [source: Bitcoin.com]December 18, 2017December 18, 2017Just four years ago the bitcoin price was $20, but now the transaction costs of a single transaction are nearly this much. Although the growth in transaction costs is caused by increasing demand for bitcoin, this news has an adverse effect on bitcoin, as it shows that urgent measures are needed to increase bitcoin scalability. Its trading volume is growing, so transaction costs will also increase.BTC Unfavorable
3.                    Bitcoin.com CTO Denounces Bitcoin: “I’ve Switched to Bitcoin Cash” [source: Cointelegraph]December 19, 2017December 19, 2017Emil Oldenburg, a well-respected individual in the world of cryptocurrency, dropped a bombshell, stating that bitcoin had become “useless” due to its high transaction costs and lead times. Therefore, he intends to switch to bitcoin cash. This statement may be part of the ongoing war between bitcoin and bitcoin cash, the latter of which clearly benefits from such statements.BTC
Bitcoin Cash
4.                    India’s Crypto Crackdown: Wealthy Bitcoiners Targeted, Start-Ups Scrutinized [source: Bitcoin.com]December 19, 2017December 19, 2017After a raid on all Indian cryptocurrency exchanges, the government, represented by the Income Tax Department of India, has commenced an investigation of wealthy cryptocurrency owners. This news is very important for Indian citizens holding cryptocurrencies, with many preferring to get rid of them, which could lead to a fall in cryptocurrency exchange rates.Market Unfavorable
5.                    Korean Cryptocurrency Exchange Youbit to Close After Second Hack in a Year [source: Bitcoin.com]December 19, 2017December 19, 2017The Korean exchange Youbit has announced that it is closing due to losses of an unspecified amount of cryptocurrency from user wallets after an attack by hackers. This news demonstrates that cryptocurrency exchanges still cannot ensure complete protection of their clients’ cryptocurrencies, which has an adverse effect on the entire market.Market

 

 

 

 

Unfavorable
6.                    Litecoin Founder Sold and Donated His Stake Because of a ‘Conflict of Interests’ [source: Coinspeaker]December 20, 2017December 20, 2017Charlie Lee, the creator of the Litecoin cryptocurrency, has announced that he is selling all his Litecoins. He does not want to be accused of having a personal interest in profiting from its exchange rate growth. Regardless of the reason, the sale by a creator of all his coins when their price is at a record high may prompt adverse speculation and have a negative impact on the currency’s exchange rate.LTC Unfavorable
7.                    Market Optimism Declines as Bitcoin Futures Euphoria Ends [source: Bitcoin.com]December 21, 2017December 21, 2017A fall in the predicted future prices of bitcoin to around $17,000 by January and February 2018 has taken place on the exchanges trading in bitcoin futures. This is a bad sign for the bitcoin exchange rate, and might soon be followed by an adjustment of the bitcoin exchange rate, which will drag the entire market down with it.Market

BTC

Unfavorable
8.                    ‘$1 Barrier’: Ripple Price Hits New All-Time [High] of $1.24 [source: Coinspeaker]December 21, 2017December 21, 2017The Ripple price has increased to a record high of $1.37 after more than a half year of stability. During this time many banks have begun to use the Ripple system, and the process of deployment continues.Ripple

 

Favorable
9.                    ‘Healthy Dip?’ Bitcoin Rediscovers $12,850, Altcoins Shed Up To 40% [source: Cointelegraph]December 22, 2017December 22, 2017A large adjustment followed the rapid growth of bitcoin in November and December, initiating the sale of all altcoins and causing their price to fall by 40% on average. Total market capitalization also dropped from more than $600 billion to $450 billion in less than two days.Market

BTC

Unfavorable
10.                 Belarus Legalizes Cryptocurrencies, ICOs and Smart Contracts [source: Coinspeaker]December 23, 2017December 23, 2017Belarus has become the first country to fully legalize trading in cryptocurrencies and mining, and even established tax holidays of up to five years for some types of activity. This is positive news for the entire crypto industry, as other countries may follow Belarus’s lead.Market

 

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.

Below is an analysis of the daily changes in the Bitcoin, Ethereum, and Bitcoin Cash exchange rates since the start of December (Tables 1.4.a, 1.4.b, and 1.4.c).

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

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index, rate to start of yearVolume (24h), USD billionMarket cap, USD billion
Dec 24, 201714 608.214 626.012 747.71 878.313 925.894.7%-5.3 13.9511.6 244.8
Dec 23, 201713 948.715 603.213 828.81 774.414 699.2106.3%6.314.7213.1233.7
Dec 22, 201715 898.015 943.411 833.04 110.413 831.887.5%-12.513.8522.2266.4
Dec 21, 201716 642.417 567.715 342.72 225.015 802.995.1%-4.915.8316.5278.8
Dec 20, 201717 760.317 934.716 077.71 857.016 624.693.5%-6.516.6522.1297.5
Dec 19, 201719 118.319 177.817 275.41 902.417 776.793.0%-7.017.8116.9320.2
Dec 18, 201719 106.419 371.018 355.91 015.119 114.299.9%-0.119.1514.8320.0
Dec 17, 201719 475.820 089.018 974.11 114.919 140.898.2%-1.8 19.1713.3 326.1
Dec 16, 201717 760.319 716.717 515.32 201.419 497.4110.1%10.119.5312.7297.4
Dec 15, 201716 601.318 154.116 601.31 552.817 706.9106.9%6.917.7414.3277.9
Dec 14, 201716 384.617 085.816 185.9899.916 564.0100.9%0.916.5913.8274.3
Dec 13, 201717 500.017 653.116 039.71 613.416 408.294.2%-5.816.4413.0292.9
Dec 12, 201716 919.817 781.816 571.61 210.217 415.4102.8%2.817.4414.6283.2
Dec 11, 201715 427.417 513.915 404.82 109.116 936.8109.6%9.616.9712.2258.1
Dec 10, 201715 168.415 850.613 226.62 624.015 455.4101.8%1.8 15.4813.4 253.8
Dec 9, 201716 523.316 783.013 674.93 108.115 178.291.6%-8.415.2013.9276.4
Dec 8, 201717 802.918 353.414 336.94 016.516 569.492.6%-7.416.6021.1297.8
Dec 7, 201714 266.117 899.714 057.33 842.417 899.7125.2%25.217.9318.0238.6
Dec 6, 201711 923.414 369.111 923.42 445.714 291.5119.9%19.914.3212.7199.4
Dec 5, 201711 685.712 032.011 604.6427.411 916.7102.2%2.211.946.9195.4
Dec 4, 201711 315.411 657.211 081.8575.411 657.2102.9%2.911.686.1189.2
Dec 3, 201711 082.711 858.710 862.0996.711 323.2102.2%2.2 11.346.6 185.3
Dec 2, 201710 978.311 320.210 905.1415.111 074.6100.9%0.911.095.1183.5
Dec 1, 201710 198.611 046.79 694.71 352.110 975.6107.3%7.3 10.996.8 170.4

* Data as of December 25, 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 December 1, 2017, to December 24, 2017)

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index, rate to start of yearVolume (24h), USD billionMarket cap, USD billion
Dec 24, 2017721.77721.8614.92106.9694.1596.5%-3.5 84.962.3 69.7
Dec 23, 2017681.32763.9679.7384.2719.39106.6%6.688.052.565.8
Dec 22, 2017822.64827.7543.76283.9674.8682.2%-17.882.605.079.4
Dec 21, 2017820.24880.5792.6987.8821.06100.2%0.2100.503.679.1
Dec 20, 2017827.52845.1756.0089.1819.0999.1%-0.9100.264.079.8
Dec 19, 2017793.90881.9785.3496.6826.82104.0%4.0101.204.176.6
Dec 18, 2017721.73803.9689.23114.7794.64110.4%10.497.263.269.6
Dec 17, 2017696.24735.8696.2439.6719.98103.4%3.4 88.122.1 67.1
Dec 16, 2017686.19718.4680.7937.6696.21101.7%1.785.222.266.1
Dec 15, 2017696.38697.1621.0676.1684.4598.4%-1.683.782.867.1
Dec 14, 2017700.59753.1664.9988.1695.8299.0%-1.085.173.867.5
Dec 13, 2017644.91748.0597.80150.2702.77107.9%7.986.024.562.1
Dec 12, 2017522.29657.3504.49152.8651.43126.5%26.579.735.250.3
Dec 11, 2017440.36517.0439.1077.9515.14116.6%16.663.051.842.4
Dec 10, 2017472.79472.8429.5143.3441.7293.3%-6.7 54.071.4 45.5
Dec 9, 2017457.34504.2456.2547.9473.50103.8%3.857.962.044.0
Dec 8, 2017434.99466.1422.3743.7456.03105.0%5.055.822.341.8
Dec 7, 2017426.37441.4414.4127.0434.41101.4%1.453.172.141.0
Dec 6, 2017462.60462.7420.2142.5428.5992.5%-7.552.462.044.5
Dec 5, 2017470.29473.6457.6615.9463.2898.5%-1.556.711.245.2
Dec 4, 2017466.05474.8453.3121.5470.20100.9%0.957.551.044.8
Dec 3, 2017463.70482.8451.8531.0465.85100.5%0.5 57.021.0 44.6
Dec 2, 2017466.85476.2456.6519.6463.4599.3%-0.756.730.944.9
Dec 1, 2017445.21472.6428.3144.3466.54104.3%4.3 57.101.2 42.8

* Data as of December 25, 2017, 00:00 UTC
Data source: coinmarketcap.com

On December 17, 2017, the Bitcoin exchange rate broke the $20,000 barrier for the first time, but then immediately adjusted downward to $11,833 by December 22, 2017.

Nevertheless, since the start of December (December 1-24, 2017), the Bitcoin exchange rate has appreciated from $10,198.60 to $13,925.80, and the Ethereum price from $445.21 to $694.15 (Tables 1.4.a and 1.4.b). The highest Bitcoin and Ethereum exchange rates ($20,089 and $880.50, respectively) were recorded on December 17, 2017, and December 21, 2017. The largest fluctuations in the daily range (Range) of the exchange rates of Bitcoin ($4,110.40) and Ethereum ($283.90) were seen on December 22, 2017. Thus, since the start of the year the Bitcoin and Ethereum exchange rates have increased by a factor of 13.95 and 84.96, respectively (see Tables 1.4.a, 1.4.b).

The price trends of Bitcoin, Ethereum, Bitcoin Cash, and Ripple (the top four cryptocurrencies by capitalization) in December 2017 are given in figures 2, 3, 4, and 5.

Figures 2, 3, 4, 5. Price trends of Bitcoin, Ethereum, Bitcoin Cash, and Ripple

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-3

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-4

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-5

According to the data given in figures 2, 3, 4, 5, the intensive growth in the Bitcoin exchange rate on December 6-7 was accompanied by a drop in the exchange rates of Ethereum and Bitcoin Cash, while the downward adjustment of the Bitcoin exchange rate on December 8-9 led to an increase in Ethereum and Bitcoin Cash. Over the 2-4 days after December 11, 2017, there was intensive growth in these cryptocurrencies, followed by a downward adjustment of the exchange rate. During the period from December 18-22 there was a significant downward adjustment of the bitcoin exchange rate, which gradually pulled the entire cryptocurrency down with it (December 22). However, Bitcoin’s competitor, Bitcoin Cash, the exchange rate of which exceeded $4,350 last week (December 20, 2017), benefited from the depreciation of the Bitcoin exchange rate.

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

DateOpen, $High, $Low, $Range, $Close, $DoD, %D, %Index, rate to start of yearVolume (24h), USD billionMarket cap, USD billion
Dec 24, 2017 3260.63260.62573.4687.12903.189.1%-10.9 7.641.7 55.0
Dec 23, 20172747.03479.72684.8794.93257.1120.8%20.88.572.846.3
Dec 22, 20173324.03369.61938.41431.22696.782.5%-17.57.103.956.1
Dec 21, 20173909.03909.03038.0871.03267.283.3%-16.78.603.765.9
Dec 20, 20172825.04355.62825.01530.63923.1139.8%39.810.3211.947.6
Dec 19, 20172199.12918.92160.9758.02805.9127.7%27.77.383.937.1
Dec 18, 20171869.22353.61799.1554.52196.6117.9%17.95.782.531.5
Dec 17, 2017 1812.31939.91806.7133.31862.9103.4%3.4 4.901.0 30.6
Dec 16, 20171824.91890.11769.5120.61801.999.3%-0.74.741.030.8
Dec 15, 20171974.71974.71678.1296.61815.492.3%-7.74.781.533.3
Dec 14, 20171600.72080.41593.2487.31966.1122.3%22.35.172.727.0
Dec 13, 20171617.01702.51497.9204.61607.799.5%-0.54.231.227.2
Dec 12, 20171427.41638.31427.4210.91615.0113.5%13.54.251.424.1
Dec 11, 20171320.01453.51316.9136.61423.4107.6%7.63.750.922.2
Dec 10, 2017 1411.81411.81226.2185.61323.193.8%-6.2 3.480.9 23.8
Dec 9, 20171464.61526.41353.9172.51410.196.3%-3.73.711.124.7
Dec 8, 20171329.21731.31247.9483.41464.1110.0%10.03.852.622.4
Dec 7, 20171430.71454.71323.8131.01330.993.1%-6.93.501.324.1
Dec 6, 20171498.51530.71396.2134.51430.195.2%-4.83.761.225.2
Dec 5, 20171580.21623.21498.0125.21501.995.2%-4.83.951.026.6
Dec 4, 20171560.21580.11499.081.11576.9101.1%1.14.150.826.3
Dec 3, 2017 1435.41649.31420.6228.71559.9108.7%8.7 4.101.5 24.2
Dec 2, 20171462.11502.41415.586.91435.098.1%-1.93.780.624.6
Dec 1, 2017 1381.81482.71300.5182.21462.7105.2%5.2 3.851.0 23.3

* Data as of December 25, 2017, 00:00 UTC
Data source: coinmarketcap.com

The overall index of Bitcoin Cash exchange rate change from August 1, 2017, equaled 7.64 (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 664%, with most of this growth taking place since the beginning of November. In December the exchange rate has ranged from $1,226.20 to $4,355.60. Bitcoin Cash now holds third place in terms of capitalization, which equals $55 billion.

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

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

 

Factors and events

(link to source)

Date of newsDate of event*DescriptionNature of impactType of impact
1.Crypto to Take Center Stage at G20 [source: Bitcoin.com]December 18, 2017n/aThe French Minister of Finance has announced that he intends to raise the issue of bitcoin at the upcoming G20 summit. Discussion of bitcoin at such a high level by members of the governments of the world’s most influential countries could affect the bitcoin exchange rate and the market as a whole. The exact agenda is not yet known, so it is impossible to say just how this impact will manifest itself. However, this news shows that even those at the highest levels are interested in and willing to discuss bitcoin.Market

 

Uncertain

 

2.South Korea FSS: Cryptocurrency Not ‘Actual Currency’, Should Not Be Regulated [source: Cointelegraph]December 20, 2017n/aThe Governor of the South Korean financial regulator has announced that the regulator must inform the public of the potential risks of purchasing cryptocurrencies. However, he also added that the regulation of cryptocurrencies in the country will only facilitate the growth of trading in cryptocurrencies, since investors will assume that the regulator has already taken its decision on cryptocurrencies.Market Favorable

 

3.Goldman Is Setting Up a Cryptocurrency Trading Desk [source: Bloomberg]December 21, 2017n/aThis announcement shows that financial professionals are seriously interested in the cryptocurrency market, with Goldman Sachs launching its cryptocurrency trading desk. This is very good news for the entire cryptocurrency industry.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 24, 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 24, 2017, this number had already reached 1,334.
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 25, 2017, 00:00 UTC
** The figures below present average data for 24 hours
Data source: coinmarketcap.com

Figure 1.1. Total cryptocurrency market capitalization**

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-1-1

** Average daily data (according to the data of coinmarketcap.com). For example, at 00:00 UTC on December 10, 2017, cryptocurrency market capitalization equaled $416.9 billion (see Table 1.1), but by 04:00 UTC it had fallen to $363.6 billion, so the average daily value equaled $383 billion. Therefore, average daily values are given in fig. 1.1.

Figure 1.1 shows a graph of the weekly cryptocurrency market change from July 2, 2017, to December 24, 2017. Over this period, market capitalization increased from $94.7 billion to $538.1 billion, a growth of 2,940% relative to the start of the year. Over the past week (December 18-24, 2017), total market capitalization decreased from $590.2 billion to $538.1 billion (as of December 24, 2017).

Figure 1.2. Change in market capitalization

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-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 $25.2 billion (-15.1%) and $20.8 billion (-15%), respectively. The highest growth rate in Q3 was 39% (the week of July 16-23, 2017).

For three weeks in a row the weekly growth in market capitalization equaled around $50 billion (from November 19, 2017, to December 10, 2017).

From December 11-17, 2017, total cryptocurrency market capitalization increased by a record $207.1 billion, or 54% (using average daily data), but over the past week (December 18-24, 2017) there was a downward adjustment of $52.1 billion (-9%).

 Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-1-3

The total number of cryptocurrencies and digital assets listed on exchanges has grown since July from 881 to 1,334. Their number increased by 9 over the past week, from 1,325 to 1,334. Average cryptocurrency and digital asset capitalization decreased from $445.4 million to $403.4 million over the analyzed period.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-1-4

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-1-5

 

Over the four weeks of October (October 1-29, 2017) the cryptocurrency market grew by $23 billion, from $147 billion to $170 billion, and over the following four weeks of November (October 30-November 26, 2017) it reached $283 billion, i.e. it increased by another $113 billion. During the first three weeks of December (November 27-December 17, 2017) the growth totaled approximately $300 billion, bringing it to $590 billion (average value on December 17, 2017).

Last week (December 18-24, 2017) was characterized by a 9% market decline, with the majority of the decrease due to the rapid depreciation of the Bitcoin exchange rate. Bitcoin dominance fell over the week, from 56.3% to 43.2%.

Overall, the cryptocurrency market has grown significantly since the start of the year, with its capitalization increasing by a factor of 30 since the start of the year (from $17.7 billion to $538.1 billion on December 24, 2017).

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

    2.1 Brief market overview, news of the week

  • UK Financial Watchdog to Further Scrutinize ICOs [source: Coindesk]
  • 2018 for ICOs: A Quarter-By-Quarter Outlook [source: Coindesk]
  • Investors Commit $100 Million to tZERO ICO [source: Coindesk]
  • MARKET OVERVIEW: ICOs Raise More Than $5 Billion This Year as Crowdfunding Market Evolves [source: Hacked]
  • Belarus Legalizes Cryptocurrency Payments & Initial Coin Offerings (ICOs) [source: CCN]
  • Breaking: Russia to Reveal Bitcoin, ICO Draft Regulation Bill Next Week [source: CCN]
  • ICO to Build Next Generation AI Raises $36 Million in 60 Seconds [source: Cointelegraph]

    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

IndicatorSeptember

2017

October

2017

November

2017

December 1-

10, 2017

December 11-

17, 2017

December 18-

24, 2017

Total amount of funds collected, USD million1802.9822.6683.5328.7395.6439.2
Number of companies that completed an ICO1487250232412
Maximum collected, USD million (ICO name)257

(Filecoin)

144.3 (Polkadot)108.2

(QASH)

52.0 (Blockstack)60

(Nebulas)

258

(Hdac)

Average collected funds, USD million16.711.413.714.316.536.6
Max token reward (ICO name)6.86x

(ICON)

8.11x (Electroneum)7.99x

(Genesis Vision)

10.56х

(Aelf)

2.76

(GIFTO)

n/a
Average token reward (ATR)21.94x1.89x2.72x3.80x2.76n/a
Weighted average current reward on funds (WACRF)31.83x2.08x2.76x2.97x2.76n/a

Notes:
1 Data source: tokendata.io, icodrops.com, coinschedule.com. Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum set amount of funds) and/or ICOs listed on exchanges were considered. For some ICOs information may currently be incomplete (for instance, the amount of funds collected).
2 Average token reward for ICO projects was calculated for August-November as of December 2, 2017. Consequently, token reward 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 $2.72 for projects completed in November 2017. To calculate this ratio, the authors used the data from 50 ICOs completed between November 1 and December 1, 2017. The maximum token reward for projects completed in November was 7.99x for the Genesis Vision 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 December 1, 2017, are incomplete or non-existent.

The data since the start of December (December 1-17, 2017) were adjusted to account for the appearance of more complete information on past ICOs. In all, the total amount of funds collected equaled $328.7 + $395.6 = $724.3 million. Last week (December 18-24, 2017) the amount of funds collected via ICOs equaled 439.2 million. This amount includes the results of the 12 most successful completed ICOs, with the largest amount collected equaling around $258 million (Hdac ICO). The average amount of funds collected per project was $36.6 million. More detailed information on the 12 main ICOs completed last week 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 24, 2017)258
The number of projects planning an ICO as of the current date (December 24, 2017)256
The number of projects planning an ICO between December 25-31, 201710

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

The number of projects conducting active ICOs as of December 24, 2017, is 258. There is presently information available on at least 256 planned ICOs to be conducted after December 24, 2017, including at least 10 ICOs which will start next week.

    2.4. Quantitative analysis of the ICO market

        1.Amount of funds collected and number of ICOs

Table 2.4. Amount of funds collected and number of ICOs

MonthCollected, $ millionNumber of ICOs*Average collected, $ million
January4.531.5
February9.751.94
March4.731.57
April127.8177.52
May168.41610.53
June995.23033.17
July461.32915.91
August330.0359.43
September730.34516.23
October794.26811.7
November683.55013.7
December 1-10, 2017328.72314.3
December 11-17, 2017395.62416.5
December 18-24, 2017439.21236.6
Total5574.136715.2

* 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 and December 2017. December has not ended yet, but the amount of funds collected already exceeds $1.15 billion.

The data for last week (December 18-24, 2017) may be adjusted as information on the amounts of funds collected by completed ICOs is finalized. 

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

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-1

2. Top ICOs

Table 2.5. Top 10 ICOs in terms of the amount of funds collected (December 18-24, 2017)

Name of ICO***Category**Collected, $ millionDate
1HdacInfrastructure*258December 23, 2017
2SingularityNetGaming & VR*36December 22, 2017
3BreadPayments*32December 19, 2017
4PropsPayments*25December 22, 2017
5QLINKInfrastructure*20.6December 22, 2017
6SelfkeyIdentity & Reputation*15.8December 20, 2017
7AppCoinsInfrastructure*15.3December 20, 2017
8IndaHashCommerce & Advertising*12.4December 20, 2017
9CommerceBlockFinance*8.8December 19, 2017
10AditusCommerce & Advertising*7.1December 20, 2017
Top 10 ICOs431
 Total collected funds (12 ICOs)439.2 
 Average collected funds, $36.6 

* The category was established based on expert opinions.
** When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum set amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected).

Table 2.5 shows the top 10 ICOs which were successfully completed during the past week (December 18-24, 2017). The leader for December in terms of the amount of funds collected and the most successful ICO in the history of holding ICOs was the Hdac project. This project surpassed the well-known project Filecoin, which was previously in first place by amount of funds collected, by $1 million. Hdac is an abbreviation for Hyundai Digital Asset Currency. This is a hybrid project that combines blockchain with the Internet of Things (IoT), i.e. it combines the two into a huge, constantly developing information platform.

This project offers an ecosystem with public and private keys for interacting with the devices around us, the number of which will continue to grow (smart homes, smart cars, smartphones, smartwatches, televisions, refrigerators, gas stoves, teapots, etc.).

The configuration of Hdac creates a reliable, confidential, comprehensive, and controllable system of communications for the merger of blockchain with the IoT, which will make it possible to perform quick transactions, and increase the convenience of all types of payments: taxes, settlements between parties, clients, investments, loans, etc.

Figure 2.2 presents the ten largest ICOs completed during the past week of December 2017.

Figure 2.2. Top 10 ICOs in terms of the amount of funds collected (December 18-24, 2017)

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-2

    3. Top ICOs in their categories

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

Table 2.6. Top 10 ICOs in terms of the amount of funds collected, Infrastructure category

Name of ICOCategory**Collected, $ millionDateToken performance
1HdacInfrastructure*258December 23, 2017n/a
2TezosInfrastructure232.3June 13, 2017n/a
3EOSInfrastructure185July 1, 20178,87х
4The DAOInfrastructure168May 28, 2016n/a
5BancorInfrastructure153June 12, 20171,12x
6PolkadotInfrastructure*144.3October 27, 2017n/a
7KinInfrastructure97September 26, 20171,36x
8StatusInfrastructure90June 20, 20173,88x
9NebulasInfrastructure*60December 16, 2017n/a
10BlockstackInfrastructure*52December 1, 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 is 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.
*** The projects in the Top 10 of this category completed in December 2017 are highlighted in red.

Table 2.6 lists the top 10 ICOs in the Infrastructure category. Nearly all of these projects were performed in 2017. The leader for December, the year, and the category is the Hdac project. The highest token performance indicator, i.e. the ratio of current token price to token sale price, is 8.87x for the EOS ICO. Its current market capitalization equals more than $4.8 billion.

Figure 2.3. Top 10 ICOs in terms of the amount of funds collected, Infrastructure category

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-3

The ratings of ICOs in the Commerce & Advertising, Gaming & VR, Payments and Identity & Reputation categories are given below.

Table 2.7. Top 10 ICOs in terms of the amount of funds collected, Commerce & Advertising category

 Name of ICOCategoryCollected, $ millionDateToken performance
1WaxCommerce & Advertising*46.5November 15, 2017n/a
2Basic Attention TokenCommerce & Advertising35.0May 31, 201710.61x
3AirtokenCommerce & Advertising15.0October 7, 20171.30x
4BodhiCommerce & Advertising*14.7November 22, 20172.82x
5IndaHashCommerce & Advertising*12.4December 20, 2017n/a
6AdExCommerce & Advertising11.4June 30, 20179.99x
7SpankchainCommerce & Advertising*7.2November 13, 20176.10x
8AditusCommerce & Advertising*7.1December 20, 2017n/a
9SomaCommerce & Advertising*6November 15, 2017n/a
10Zap StoreCommerce & Advertising*2.8November 20, 2017n/a

* The category was established based on expert opinions.
** The projects in the Top 10 of this category completed in December 2017 are highlighted in red.

At present, all projects from the top 10 in the Commerce & Advertising category have a token performance indicator of 1.3x to 10.61x. The Wax project can be considered one of the most successful ICOs in terms of the amount of funds collected, as can the exchange listing of the Basic Attention Token project, as this project has a current token price to token sale price ratio of 10.61x. When considering this indicator, it is important to remember that the Basic Attention Token ICO was completed on May 31, 2017, i.e. the 10.6x growth took place over approximately seven months, and the market capitalization of Basic Attention Token currently exceeds $411 million.

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

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-4

Table 2.8. Top 10 ICOs in terms of the amount of funds collected, Gaming & VR category

 Name of ICOCategoryCollected, $ millionDateToken performance
1MobileGOGaming & VR53.1May 24, 20171.21x
2DreamTeamGaming & VR*45December 15, 2017n/a
3SingularityNetGaming & VR*36December 22, 2017n/a
4DecentralandGaming & VR26.2August 17, 20172.98x
5DMarketGaming & VR19August 21, 2017n/a
6Enjin Pre-SaleGaming & VR10.8September 18, 20175.08x
7PlaykeyGaming & VR10.5December 1, 2017n/a
8GameCoinGaming & VR8.9September 29, 2017n/a
9NEVERDIE & TELEPORTGaming & VR6.1August 31, 2017n/a
10FirstBloodGaming & VR5.5September 25, 201613.77x

* The category was established based on expert opinions.
** The projects in the Top 10 of this category completed in December 2017 are highlighted in red.

Table 2.8 shows the top 10 ICOs in the Gaming & VR category. Half of the projects presented are selling their tokens on cryptoexchanges. The capitalization of the leader in this category (the MobileGO project) is currently $92 million.

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

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-5

Table 2.9. Top 10 ICOs in terms of the amount of funds collected, Payments category

 Name of ICOCategoryCollected, $ millionDateToken performance
1TenXPayments64.0June 24, 20176.71x
2MonethaPayments36.6August 31, 20171.09x
3Request NetworkPayments33.3October 16, 20174.51x
4BreadPayments*32December 19, 2017n/a
5DomRaiderPayments31.0October 11, 20170.37x
6MonacoPayments26.6June 18, 20176.96x
7PropsPayments*25December 22, 2017n/a
8OmiseGoPayments25.0July 5, 201745.76x
9UTRUSTPayments21.0November 20, 2017n/a
10Centra TechPayments18.5August 25, 20173.11x

* The category was established based on expert opinions.
** The projects in the Top 10 of this category completed in December 2017 are highlighted in red.

At present, all projects from the top 10 in the Payments category have a token performance indicator of 1.09x to 45.76x. The exchange listing of the OmiseGo project can be considered one of the most successful ICOs, as this project has a current token price to token sale price ratio of 45.76x. When considering this indicator, it is important to remember that the OmiseGo ICO was completed on July 5, 2017, i.e. the 45.76x growth took place over approximately 4.5 months, and the market capitalization of OmiseGo currently exceeds $1,481 million.

Figure 2.6. Top 10 ICOs in terms of the amount of funds collected, Payments category

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-6

Table 2.10. Top 4 ICOs in terms of the amount of funds collected, Identity & Reputation category

 Name of ICOCategoryCollected, $ millionDateToken performance
1CivicIdentity & Reputation33June 22, 201712.42x
2SelfkeyIdentity & Reputation*15.8December 20, 2017n/a
3RevainIdentity & Reputation9.4September 4, 201710.57x
4MetaverseIdentity & Reputation2September 8, 2016n/a

* The category was established based on expert opinions.
** The projects in the Top 10 of this category completed in December 2017 are highlighted in red.

Table 2.10 shows the top four ICOs in the Identity & Reputation category. Half of the projects presented are selling their tokens on cryptoexchanges. The capitalization of the leader in this category (the Civic project) is currently $365 million.

Figure 2.7. Top 4 ICOs in terms of the amount of funds collected, Identity & Reputation category

weekly-cryptocurrency-and-ico-market-analysis-december-18-24-2017-figure-2-7

Over the past period (December 18-24, 2017), 12 ICO projects were successfully completed, each of which collected more than $100,000, with a total amount of funds collected of at least $439.2 million. The week’s leader was the Hdac project ($258 million). The total amount of funds collected by a number of ICOs failed to reach even the $100,000 mark (the information for some projects is still being finalized).

The Glossary is given in Annex 1

Annex 1Glossary

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-4 Crypto index calculations include four dominant cryptocurrencies with the greatest market capitalization: Bitcoin, Ethereum, Bitcoin Cash, and Ripple.

ZAK-8 Crypto index calculations include the trading volume and market capitalization for eight cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, DASH, Cardano, and IOTA.

 


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