Please, check out our report devoted to the analysis of the cryptocurrency market movements during 2017-2018, with special emphasis placed on changes seen in April 16-22, 2018.

Information as of April 23, 2018

This report was created by:

This report presents data on the cryptocurrency market changes during 2017-2018. Special emphasis has been placed on an analysis of the changes that have taken place in April 2018, including over the past week (April 16-22, 2018

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 February 1, 2018, to April 22, 2018*

Parameter1-Feb-181-Mar-18MoM, %1-Apr-18MoM, %8-Apr-18DoD, %15-Apr-18DoD, %22-Apr-18DoD, %
1Total market capitalization, USD billion517.2440.0-14.9% 263.9-40.0% 260.0-1.5% 319.022.7%385.921.0%
2Altcoin market capitalization, USD billion344.8264.6-23.3%145.2-45.1%142.6-1.8%183.228.5%234.227.8%
Altcoin dominance, %66.7%60.1%55.0%54.8%57.4%60.7%
3Bitcoin price, $10 237.310 385.01.4%7 003.1-32.6% 6 920.0-1.2% 7 999.315.6%8 925.111.6%
Bitcoin market capitalization, USD billion172.4175.41.8%118.7-32.3%117.4-1.1%135.815.7%151.711.7%
Bitcoin dominance, %33.3%39.9%45.0%45.2%42.6%39.3%
4Ethereum price, $1 119.4856.0-23.5% 397.3-53.6% 385.7-2.9% 502.930.4%606.120.5%
Ethereum market capitalization, USD billion109.083.8-23.1%39.1-53.3%38.1-2.8%49.730.6%60.020.7%
Ethereum dominance, %21.1%19.0%14.8%14.6%15.6%15.5%
5Bitcoin Cash price, $1 491.11 204.8-19.2% 688.0-42.9% 640.9-6.8% 741.915.8%1 147.554.7%
Bitcoin Cash market capitalization, USD billion25.320.5-19.0%11.7-42.7%10.9-6.8%12.715.8%19.654.8%
Bitcoin Cash dominance, %4.9%4.7%4.4%4.2%4.0%5.1%
6Litecoin price, $163.7203.124.1%116.9-42.4% 116.3-0.5% 126.78.9%148.617.3%
Litecoin market capitalization, USD billion9.011.325.0%6.5-42.0%6.5-0.3%7.19.1%8.417.5%
Litecoin dominance, %1.7%2.6%2.5%2.5%2.2%2.2%
7Volume (24h) 4 crypto, USD billion17.310.1-41.4%6.4-36.9%4.9-22.9%7.960.2%11.038.7%
Market cap 4 crypto, USD billion351.6315.1-10.4%189.7-39.8%185.5-2.2%223.020.2%265.218.9%
ZAK-4 Crypto index4.9%3.2%3.4%2.7%3.5%4.1%
4 crypto dominance, %68.0%71.6%71.9%71.3%69.9%68.7%
8Volume (24h) 8 crypto, USD billion19.011.3-40.3%7.2-36.3%5.4-25.7%9.374.0%12.534.2%
Market cap 8 crypto, USD billion393.4349.3-11.2%208.7-40.2%204.2-2.2%246.820.9%296.920.3%
ZAK-8 Crypto index4.8%3.2%3.5%2.6%3.8%4.2%
8 crypto dominance, %76.1%79.4%79.1%78.5%77.4%76.9%

* Data as of April 22, 2018 (all figures calculated at 03:00 UTC)
** Since December 1, 2017, the ZAK-4 index has been calculated using the cryptocurrencies Bitcoin, Ethereum, Ripple, and Bitcoin Cash.
*** When calculating the ZAK-8 index, the cryptocurrencies with the largest capitalization are used. At present (April 22, 2018), the cryptocurrencies Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, Stellar, and EOS are used to calculate the ZAK-8 index.
Data source: coinmarketcap.com

Over the past week (April 16-22, 2018) cryptocurrency market capitalization increased, and equaled $385.9 billion as of 03:00 UTC on April 22 (see Table 1.1, fig. 1). Three-fourths of capitalization growth during the week was due to the growth of altcoins (by $50 billion) and 1/4 was due to the growth of bitcoin (by $16 billion).

The dominance of the four and eight largest cryptocurrencies as of 03:00 UTC on April 22, 2018, equaled 68.7% and 76.9%, respectively, with bitcoin dominance decreasing to 39.3% (see Table 1.1). Last week saw a considerable growth in the prices of certain cryptocurrencies from the second (top 100) and third (top 500) echelons by capitalization, for example, Game.com (+677.46%), XinFin Network (+268.72%), Pundi X (+233.95%), Switcheo (+211.75%), etc.

Market capitalization showed a steady upward trend over the course of the week, reaching nearly $400 billion. Capitalization fluctuated from $318.3 billion to $397.1 billion (fig. 1), i.e. within a range of $80 billion, with a downward adjustment of $27.5 billion taking place over the course of four hours on April 21 (including by $5 billion due to a fall in the bitcoin price).

Figure 1. Cryptocurrency market capitalization since April 16, 2018

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1

Data source: coinmarketcap.com

During the period from April 16-22, 2018, the price change of cryptocurrencies in the top 500 ranged from -33.05% (Nimiq Exchange Token) to +677.46% (Game.com). The price of all the cryptocurrencies and digital assets in the top 100 showed growth, except Verge (-23.99%), Ontology (-11.46%), Nucleus Vision (-3.28%), Binance Coin (-1.95%), and Bytom (-0.68%). Only 54 of the top 500 currencies decreased in price. Overall, cryptocurrency market capitalization increased by approximately 19.2%, or by $62 billion, over the week.

This past week the number of cryptocurrencies with a capitalization of more than $1 billion increased from 23 to 25, with the change in their prices ranging from -23.99% (Verge) to + 52.69% (Bitcoin Cash).

The coins and tokens from the top 100 that demonstrated the largest growth in prices are given in fig. 2.

The rise and fall of cryptocurrency prices over the past week (April 16-22, 2018)

The prices of some cryptocurrencies may fluctuate from -50% to +50% over the course of a single day. Therefore, when analyzing cryptocurrency price trends, it is advisable to use their average daily amounts on various cryptoexchanges.

Below we consider the 10 cryptocurrencies that demonstrated the most significant change in price over the past week (fig. 2-3). In this regard, only those coins and tokens included in the top 100 in terms of market capitalization (according to the data of coinmarketcap.com) were considered.

Data source: coinmarketcap.com

The change in price was calculated based on average daily data

Figure 2. Largest growth in prices over the past week

weekly-cryptocurrency-analysis-april-16-22-2018-figure-2

Data source: coinmarketcap.com
The change in price was calculated based on average daily data

Tables 1.2 and 1.3 show the possible factors or events that might have influenced the fluctuation in prices for certain cryptocurrencies. Table 1.4 shows the possible factors or events that might have influenced the cryptocurrency market in general.

Table 1.2. Factors or events that might have led to a growth in cryptocurrency prices over the past week

Coins and tokensSymbolPrice growth over the week, %Average price in $ on April 22, 2018Market capitalization, USD billionFactors or events that might have led to a growth in cryptocurrency prices over the past week
1Game.comGTC677.46%$0.4037800.24The price of game.com experienced very robust growth over the week thanks to the favorable news that the project was selected as the Tron super representative from among numerous candidates. Twitter

The growth in the Pundi X price was triggered by two positive news items: first, the team announced the buyback of a certain amount of coins from exchanges Twitter, and second the coin was listed on the South Korean exchange Coinrail Twitter

The Dentacoin Project organized a weekly publication of VIDEO UPDATES on its blog

The news that support for Bitcoin Private had been added to the Ledger Nano S wallet might have been the reason for the increase in the coin’s price Twitter

Trading in SmartCash began on the SatoshiTrade cryptoexchange, and thanks to the interest of traders from the new exchange its price appreciated by 70% during the week Twitter

The price of the Monaco coin increased due to the news on its listing on the major cryptoexchange Bithumb Twitter

Populous released a demo version of its product on April 22, sparking a growth in its price Twitter

The price of Bitcoin Diamond increased due to news on the implementation of Lightning on the new network Twitter

This week BAT announced its partnership with the Dow Jones Media Group, thereby prompting a price growth Twitter

The past week was also good for the Zilliqa price, with one of the main news items being the completion of the Zilliqa contest and the naming of the winners Twitter

2Pundi XNPXS233.95%$0.0043990.24
3DentacoinDCN149.42% $0.0008800.29
4Bitcoin PrivateBTCP88.07%$47.510.97
5SmartCashSMART71.71%$0.1899590.17
6MonacoMCO65.39%$12.590.20
7PopulousPPT62.63%$26.640.99
8Bitcoin DiamondBCD56.51%$4.380.67
9Basic Attention TokenBAT56.07%$0.4068480.41
10ZilliqaZIL53.84%$0.0908610.66

Intensive growth in Bitcoin Cash has been seen since April 18, 2018 (growth on April 23, 2018, equaled around 10%), with its price reaching $1,400. The reason is the planned upgrade of the network on May 15, after which the size of a block will be increased to 32 MB. We also learned that the Bitpay payment processing service had added support for BCH in its POS application.

A depreciation in price was seen for 54 coins and tokens from the top 500 cryptocurrencies and digital assets by capitalization last week. The ten cryptocurrencies from the top 200 that experienced the most noticeable drops in price are shown in fig. 3 and Table 1.3.

Figure 3. Largest fall in prices over the past week

weekly-cryptocurrency-analysis-april-16-22-2018-figure-3

Table 1.3. Factors or events that might have led to a fall in cryptocurrency prices over the past week

Coins and tokensSymbolFall in price over the week, %Average price in $ on April 22, 2018Market capitalization, USD billionFactors or events that might have led to a fall in cryptocurrency prices over the past week
1VergeXVG23.99%$0.0683191.02This week turned out to be most disadvantageous for the Verge price, which fell by 24%. The Verge price had increased significantly over the previous week in expectation of an important new partnership, but many traders were disappointed when Verge announced on April 17 that its new partner was the pornography website PornHub, leading to a sharp decline in price back to the level of early April Twitter

There were no sharp drops among the other currencies from the top 100 by capitalization this week, and all the other downward adjustments can be explained by market volatility. You will recall that the Ontology project will be a platform for implementation of blockchain technology in various enterprises, financial and educational institutions, which will be able to interact inside the Ontology platform.

Dropil is a token to be used on a cryptocurrency trading platform. The idea behind the project is autonomous trading in the cryptocurrency with minimum risks.

The Key is a digital token of a unique decentralized personal identification ecosystem.

HPB is the digital token that is part of the universal ecosystem called High Performance Blockchain. This ecosystem is designed to improve existing versions of blockchain and will resolve issues such as scalability problems.

MinexCoin is the digital token of a global payment system consisting of MinexBank, MinexPlatform, MinexMarket and MinexExchange.

Genaro Network (GNX) is a token that will be used in its own ecosystem called the Genaro Network. The project’s main goal is to develop an ecosystem consisting of three component parts: Decentralized data storage, Genaro Hub, and a Business incubator.

Nucleus Vision (NCASH) are digital tokens that were sold during the crowdfunding of the company Nucleus Vision in order to fund the development of innovative personal identification technologies.

Binance Coin is the digital token of the Hong Kong-based exchange Binance.

Electroneum (ETN) is an anonymous cryptocurrency working on its own blockchain based on the Bytecoin cryptocurrency blockchain.

2OntologyONT11.46%$4.040.45
3DropilDROP8.93%$0.0037960.07
4THE KEYTKY7.26%$0.0174770.08
5High Performance BlockchainHPB5.55%$3.340.10
6MinexCoinMNX5.33%$19.320.07
7Genaro NetworkGNX3.54%$0.3999780.10
8Nucleus VisionNCASH3.28%$0.0408930.17
9Binance CoinBNB1.95%$13.041.49
10ElectroneumETN1.02%$0.0242750.16

Data source: coinmarketcap.com
The change in price was calculated based on average daily data

Table 1.4 shows events that took place from April 16-22, 2018, that had an impact on both the prices of the dominant cryptocurrencies and the market in general, with an indication of their nature and type of impact.

Table 1.4. Key events of the week having an influence on cryptocurrency prices, April 16-22, 2018

Factors and events

(link to source)

Date of newsDescriptionNature of impactType of impact
1.                    CME Group Presents First Report on Bitcoin Futures [source: cmegroup.com]April 16, 2018Judging by the report of the Chicago-based commodities exchange, the cryptocurrency market is showing moderate bearish trends. CME Group notes that the trading volume in bitcoin futures has increased considerably as of late.MarketUncertain
2.                    Samsung Eyes Blockchain for Supply Chain Management [source: ethnews.com]April 17, 2018The largest manufacturer of smartphones and semiconductors in the world is using blockchain technology for supply chain management. According to experts, the new system will allow the company to reduce the time between the launch of a product and actual shipments, and will reduce logistics costs by 20%Market ⇑

 

Favorable
3.                    Chinese Telecom Giant Huawei Launches Blockchain-As-A-Service Platform [source: Huaweicloud.com]April 17, 2018Chinese telecom giant Huawei presented the latest version of its blockchain, which offers Hyperledger, at a conference in Shenzhen on Tuesday, April 17.Market ⇑

 

Favorable
4.                    UBS-Backed Blockchain Platform Completes Live Trade Transactions [source: Coindesk]April 19, 2018The Batavia blockchain-based trade finance platform performed an end-to-end transaction using smart contracts, automatically forming an agreement and closing the transaction.Market ⇑

 

Favorable
5.                    Likely New York Fed President Says Bitcoin ‘Doesn’t Pass the Basic Test’ for a Currency [source: CNBC]April 20, 2018The expected next president of the New York Federal Reserve Bank has said that the cryptocurrency “doesn’t pass the basic test for a currency”MarketUncertain

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, 1.5.a, and 1.5.b. In early April the 24-hour trading volumes (Volume 24h) for the four dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple) equaled from $4.9 billion to $14.6 billion (Table 1.5.a). The value of the daily ZAK-4 Crypto fluctuated from 2.7% to 6.8% of capitalization. The highest trading volume was seen on April 12 and 20.

Table 1.5.a. Daily ZAK-4 Crypto index calculation (from April 1, 2018, to April 22, 2018)

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%
Apr 22, 20188 925 6.6 151.7 606 2.4 60.0 1 147 1.0 19.6 0.870.9 33.9 11.0 265.2 4.1%
Apr 21, 20188 849 7.5 150.3 616 2.6 61.0 1 127 1.1 19.3 0.931.6 36.2 12.8 266.7 4.8%
Apr 20, 20188 287 8.4 140.8 568 2.8 56.2 970 1.0 16.6 0.792.3 31.0 14.6 244.5 6.0%
Apr 19, 20188 159 7.1 138.6 524 2.3 51.8 891 0.7 15.2 0.710.9 27.9 10.9 233.5 4.6%
Apr 18, 20187 944 6.5 134.9 503 1.8 49.8 758 0.6 13.0 0.660.6 25.7 9.6 223.4 4.3%
Apr 17, 20188 072 6.9 137.1 511 1.8 50.5 767 0.3 13.1 0.660.4 26.0 9.4 226.7 4.2%
Apr 16, 20188 338 5.6 141.6 532 1.8 52.6 781 0.4 13.3 0.680.5 26.7 8.3 234.2 3.5%
Apr 15, 20187 999 5.2 135.8 503 1.7 49.7 742 0.3 12.7 0.630.6 24.8 7.9 223.0 3.5%
Apr 14, 20187 875 5.2 133.7 493 1.5 48.7 739 0.3 12.6 0.640.6 24.9 7.6 219.9 3.5%
Apr 13, 20187 901 7.8 134.1 493 2.4 48.7 736 0.4 12.6 0.631.2 24.7 11.8 220.0 5.4%
Apr 12, 20186 955 8.9 118.0 430 2.5 42.5 666 0.4 11.4 0.541.3 21.1 13.2 193.0 6.8%
Apr 11, 20186 843 4.6 116.1 415 1.4 41.0 649 0.3 11.1 0.490.3 19.3 6.7 187.4 3.6%
Apr 10, 20186 795 4.3 115.3 399 1.2 39.4 638 0.2 10.9 0.490.2 19.2 5.8 184.9 3.2%
Apr 9, 20187 044 4.9 119.5 401 1.5 39.6 656 0.3 11.2 0.500.3 19.6 6.9 189.9 3.6%
Apr 8, 20186 920 3.7 117.4 386 0.9 38.1 641 0.2 10.9 0.490.1 19.1 4.9 185.5 2.7%
Apr 7, 20186 631 4.0 112.5 370 1.0 36.5 611 0.2 10.4 0.480.2 18.6 5.4 178.1 3.0%
Apr 6, 20186 816 3.8 115.6 383 1.0 37.8 642 0.2 10.9 0.490.2 19.3 5.2 183.6 2.8%
Apr 5, 20186 849 5.6 116.1 380 1.2 37.5 649 0.2 11.1 0.500.4 19.6 7.5 184.3 4.0%
Apr 4, 20187 456 4.9 126.4 416 1.3 41.1 710 0.3 12.1 0.550.4 21.7 6.9 201.3 3.4%
Apr 3, 20187 102 5.5 120.4 387 1.4 38.2 664 0.3 11.3 0.500.6 19.6 7.7 189.5 4.1%
Apr 2, 20186 845 4.3 116.0 380 1.1 37.4 644 0.3 11.0 0.490.3 19.0 6.0 183.5 3.3%
Apr 1, 20187 003 4.5 118.7 397 1.3 39.1 688 0.3 11.7 0.510.3 20.1 6.4 189.7 3.4%

* Data as of April 22, 2018, 03:00 UTC
** Data source: coinmarketcap.com

The 24-hour trading volumes (Volume 24h) for the eight dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Stellar, EOS, and Cardano) equaled $12.5 billion by the end of last week (Table 1.5.b), i.e. 4.2% of their market capitalization, which attests to the gradual resumption of activity on cryptoexchanges since the start of the month. The ZAK-4 Crypto and ZAK-8 Crypto indices are considered in more detail in Tables 1.5.a and 1.5.b.

Table 1.5.b. Daily ZAK-8 Crypto index calculation (continuation of Table 1.5.а)

CryptoStellar (XLM)Cardano (ADA)EOS (EOS)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%
Apr 22, 20180.380.06 7.0 0.2870.167.5 11.11.009.0 1490.348.4 12.5 296.9 4.2%
Apr 21, 20180.390.12 7.3 0.3020.297.8 11.61.149.3 1560.488.7 14.9 299.9 5.0%
Apr 20, 20180.370.17 6.8 0.2710.357.0 9.51.517.7 1470.498.2 17.2 274.2 6.3%
Apr 19, 20180.350.17 6.6 0.2670.246.9 9.00.557.2 1400.417.9 12.2 262.1 4.7%
Apr 18, 20180.300.16 5.6 0.2430.186.3 8.50.526.8 1320.387.4 10.8 249.4 4.3%
Apr 17, 20180.280.11 5.3 0.2550.526.6 8.10.806.5 1290.537.2 11.4 252.3 4.5%
Apr 16, 20180.290.09 5.4 0.2220.685.8 8.40.466.7 1320.297.4 9.8 259.4 3.8%
Apr 15, 20180.250.13 4.7 0.2010.175.2 8.60.866.8 1270.277.1 9.3 246.8 3.8%
Apr 14, 20180.250.04 4.6 0.1990.115.2 8.80.816.9 1250.267.0 8.8 243.5 3.6%
Apr 13, 20180.240.11 4.5 0.2120.235.5 8.70.946.9 1290.467.2 13.6 244.1 5.6%
Apr 12, 20180.210.10 3.9 0.1670.494.3 8.51.726.7 1180.596.6 16.1 214.5 7.5%
Apr 11, 20180.200.04 3.7 0.1570.094.1 6.01.824.7 1140.236.4 8.9 206.3 4.3%
Apr 10, 20180.200.03 3.7 0.1530.064.0 5.90.234.6 1150.206.5 6.4 203.5 3.1%
Apr 9, 20180.210.04 3.8 0.1570.094.1 6.00.234.7 1180.266.6 7.5 209.0 3.6%
Apr 8, 20180.200.02 3.7 0.1490.053.9 5.90.174.6 1160.196.5 5.4 204.2 2.6%
Apr 7, 20180.190.03 3.6 0.1450.053.8 5.90.224.6 1130.216.3 5.9 196.3 3.0%
Apr 6, 20180.200.03 3.7 0.1480.053.8 6.40.454.9 1190.236.6 5.9 202.7 2.9%
Apr 5, 20180.210.05 3.8 0.1560.114.0 5.70.544.4 1180.296.6 8.4 203.2 4.2%
Apr 4, 20180.230.06 4.3 0.1710.154.4 6.10.264.7 1340.387.5 7.8 222.3 3.5%
Apr 3, 20180.230.08 4.2 0.1580.164.1 5.90.314.5 1200.386.7 8.7 209.0 4.1%
Apr 2, 20180.210.07 3.8 0.1520.103.9 5.70.314.3 1150.276.4 6.7 202.0 3.3%
Apr 1, 20180.210.04 3.9 0.1570.104.1 6.00.404.6 1170.276.5 7.2 208.7 3.5%

Table 1.6 gives a list of events, information on which appeared last week, which could impact both the prices of specific cryptocurrencies and the market in general.

Table 1.6. Events that could have an influence on cryptocurrency prices in the future

 

Factors and events

(link to source)

Date of newsDescriptionNature of impactType of impact
1.UK Banking Giant Barclays May Open a Cryptocurrency Trading Desk [source: CCN]April 17, 2018The international investment bank is currently conducting a preliminary assessment of the level of client interest in this proposal.Market ⇑

 

Favorable
2.Crypto Exchange ‘Huobi’ to Launch London Offices, Expand Beyond Asia [source: Financemagnates.com]April 18, 2018The cryptoexchange, which was originally located in Beijing, but subsequently moved to Singapore, would like to expand its presence in Europe. Huobi’s senior business development manager for the region, Chern Chung, has announced that London is the “is the most active trading scene across all of Europe”.Market ⇑Favorable

 

    1.2 Market trends

The weekly cryptocurrency and digital asset market trends from December 31, 2017, to April 22, 2018, are presented as graphs (Fig. 1.1-1.5)*.

Table 1.7. Legends and descriptions of the graphs

Global FiguresFigure**Description
Total cryptocurrency market capitalization, USD millionFig. 1.1This figure shows cryptocurrency and digital asset market capitalization trends from December 31, 2017.
The rate of market change (as a % to the beginning of 2017)Fig. 1.1This figure shows the % change in cryptocurrency and digital asset market capitalization compared to December 31, 2017.
Change in the market capitalization (in USD million compared to previous period)Fig. 1.2This figure shows the weekly change in USD million (increase or decrease) in cryptocurrency and digital asset market capitalization from December 31, 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 December 31, 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 April 22, 2018, this number had already reached 1,554.
Average market capitalization, USD millionFig. 1.3This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from December 31, 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 April 22, 2018, 00:00 UTC
** NB! Average daily data are given in the graphs below. For this reason, the figures in the graphs may differ from the data in Table 1.1, where all figures were calculated at 03:00 UTC.
These differences in the values may be significant during periods of high cryptocurrency market volatility.
Data source: coinmarketcap.com

Figure 1.1. Total cryptocurrency market capitalization*

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1-1

* Average daily data (according to the data of coinmarketcap.com).

Figure 1.1 shows a graph of the weekly cryptocurrency market change from December 31, 2017, to April 22, 2018. Over this period, market capitalization dropped from $572.5 billion to $386.1 billion, i.e. by 33%. Last week (April 16-22, 2018) cryptocurrency market capitalization increased from $323.9 billion to $386.1 billion (as of April 22, 2018, based on the average figures from coinmarketcap.com).

 Figure 1.2. Change in market capitalization

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1-2

The market is susceptible to sudden and drastic fluctuations. During the first week of January, market capitalization increased by approximately $250 billion, or 44%. The largest weekly fall in the first quarter of 2018 equaled $136 billion, or 23%, during the week of January 28-February 4, 2018.

Nine of the thirteen weeks in the first quarter of 2018 were “in the red”, i.e. capitalization fell based on the results of each of these weeks. The market has grown over the past three weeks, including by $62.2 billion, or 19%, last week (with due account of average daily data, see fig. 1.2).

Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1-3

Data source: coinmarketcap.com

Since December 31, 2017, the total number of cryptocurrencies and digital assets considered when calculating market capitalization has increased from 1,335 to 1,554. Their number increased by 16, from 1,538 to 1,554, over the past week, and average capitalization equaled $148.5 million. In total, over the past month 50 new coins and tokens have appeared on coinmarketcap.com (Cortex, Apex, Monero Classic, Monero Original, eosDAC, etc.), but it should be noted that a number of other coins and tokens were also excluded from the list.

Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1-4

weekly-cryptocurrency-analysis-april-16-22-2018-figure-1-5

There were quite a few news items concerning the crypto industry last week. Most of them had a favorable impact on the cryptocurrency market, which is undergoing a gradual recovery.

The attention being garnered by cryptocurrencies will continue to facilitate their growth in the absence of state measures to limit and ban them. The market is still a long way from saturation, and potential demand will increase. It is only a matter of time. The world-changing capabilities of the new technology are much broader, with only the bare bones of cryptocurrency market infrastructure currently being established. Therefore, capitalization will increase over the long term, regardless of the risks, scams and project failures.

Experience has shown that stable cryptocurrencies such as bitcoin, the leader on the cryptocurrency market, are the most attractive in times of crisis. During periods of market growth, interest in altcoins takes the upper hand, the prices of which are more flexible to demand due to their lower capitalization.

Annex – Glossary

Key termsDefinition
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 capitalizationThe market value of an individual coin or token circulating on the market.
Total cryptocurrency market capitalizationThe market capitalization of cryptocurrencies and digital assets, i.e. the aggregate market value of cryptocurrencies and digital assets (coins and tokens) circulating on the market.
DominanceMarket share, i.e. the ratio of market capitalization of a particular cryptocurrency (coin, token) to total cryptocurrency market capitalization. Expressed as a %.
Not Mineable

 

A coin that is not mineable. The term is used for cryptocurrencies (coins, tokens) which cannot be mined or issued through mining.
Pre-minedA pre-mined coin. The term is used for cryptocurrencies (coins, 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 % to the beginning of the year)The rate of 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)The 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)The 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 beginning of 2018 over 1,300 cryptocurrencies and digital assets (coins and tokens) 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.
ZAK-n Crypto indexThe index is calculated as a percentage and represents a ratio between the 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.


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