Coinspeaker partnered with ICOBox to provide our readers with weekly analysis of cryptocurrency and digital assets markets changes over March 12-18, 2018, conducted by Professor Dima Kornilov and Dima Zaitsev.

Information as of March 19, 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 March 2018, including over the last week (March 12-18, 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 January 1, 2018, to March 18, 2018*

Parameter1-Jan-181-Feb-18MoM, %1-Mar-18MoM, %4-Mar-18DoD, %11-Mar-18DoD, %18-Mar-18DoD, %
1Total market capitalization, USD billion612.9517.2-15.6% 440.0-14.9% 463.35.3%361.7-21.9% 307.7-14.9%
2Altcoin market capitalization, USD billion376.2344.8-8.3%264.6-23.3%269.01.7%212.0-21.2%174.3-17.8%
Altcoin dominance, %61.4%66.7%60.1%58.1%58.6%56.6%
3Bitcoin price, $14 112.210 237.3-27.5% 10 385.01.4%11 497.410.7%8 852.8-23.0% 7 890.5-10.9%
Bitcoin market capitalization, USD billion236.7172.4-27.2%175.41.8%194.310.8%149.7-22.9%133.5-10.8%
Bitcoin dominance, %38.6%33.3%39.9%41.9%41.4%43.4%
4Ethereum price, $755.81 119.448.1%856.0-23.5% 856.20.0%685.3-20.0% 551.6-19.5%
Ethereum market capitalization, USD billion73.110949.1%83.8-23.1%83.90.1%67.2-19.8%54.2-19.4%
Ethereum dominance, %11.9%21.1%19.0%18.1%18.6%17.6%
5Bitcoin Cash price, $2 534.81 491.1-41.2% 1 204.8-19.2% 1 267.95.2%1 002.6-20.9% 948.3-5.4%
Bitcoin Cash market capitalization, USD billion42.825.3-41%20.5-19.0%21.65.3%17.1-20.9%16.1-5.3%
Bitcoin Cash dominance, %7%4.9%4.7%4.7%4.7%5.2%
6Litecoin price, $231.7163.7-29.3% 203.124.1%210.23.5%177.5-15.6% 152.5-14.1%
Litecoin market capitalization, USD billion12.69-28.8%11.325.0%11.73.6%9.9-15.4%8.5-13.9%
Litecoin dominance, %2.1%1.7%2.6%2.5%2.7%2.8%
7Smith + Crown Index27 54324 709-10.3% 24 051-2.7% 24 9523.7%20 158-19.2% 17 318-14.1%
8Volume (24h) 4 crypto, USD billion15.717.310.2%10.1-41.4%8.9-11.8%8.8-1.1%10.720.8%
Market cap 4 crypto, USD billion441.6351.6-20.4%315.1-10.4%335.16.4%265.1-20.9%228.7-13.7%
ZAK-4 Crypto index3.6%4.9%3.2%2.7%3.3%4.7%
4 crypto dominance, %72%68%71.6%72.3%73.3%74.3%
9Volume (24h) 8 crypto, USD billion17.21910.2%11.3-40.3%9.9-12.7%9.8-0.7%11.820.2%
Market cap 8 crypto, USD billion488.6393.4-19.5%349.3-11.2%368.95.6%291.4-21.0%249.0-14.6%
ZAK-8 Crypto index3.5%4.8%3.2%2.7%3.4%4.7%
8 crypto dominance, %79.7%76.1%79.4%79.6%80.6%80.9%

* Data as of March 18, 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 (March 18, 2018), the cryptocurrencies Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, Stellar, and NEO are used to calculate the ZAK-8 index.
Data source: coinmarketcap.com,smithandcrown.com

Over the past week cryptocurrency market capitalization fell by another 15%, and equaled $307.7 billion as of 03:00 UTC on March 18, 2018 (see Table 1.1), bringing the drop from the start of the year to 50%, i.e. market capitalization has been halved.

The Smith + Crown Index for the week decreased from 20,158 to 17,318, with the fall in the index relative to the start of the year equaling more than 10,000.

The dominance of the four and eight largest cryptocurrencies as of 03:00 UTC on March 18, 2018, equaled 74.3% and 80.9%, respectively, with bitcoin dominance increasing to 43.4% (see Table 1.1), i.e. one can conclude that altcoins have depreciated more significantly since the beginning of March than the leader of the cryptocurrency market.

The largest changes in cryptocurrency market capitalization took place on March 15 and 18 (fig. 1), due to a number of factors including:

  • on March 14 information appeared stating that Google, following the lead of Facebook and Instagram, had announced its intention to ban all advertising related to the crypto industry and ICOs to limit the risks for consumers.
  • on the eve of the G20 summit (March 19-20), at which the issue of global control over the crypto industry will be considered, capitalization initially fell, but in the evening of March 18 a growth in prices and activity began to be seen for nearly all cryptocurrencies and digital assets (see Table 1.4).

Figure 1. Cryptocurrency market capitalization since March 12, 2018.

weekly-cryptocurrency-analysis-march-12-18-2018-figure-1

Data source: coinmarketcap.com

Overall, during the period from March 12-18, 2018, the price of only 26 of the top 500 cryptocurrencies and digital assets appreciated, resulting in a decline in cryptocurrency market capitalization by more than $50 billion.

Over the past week the number of cryptocurrencies with a capitalization of more than $1 billion decreased from 22 to 18, with the price of all of them falling (except Tether).

The coins and tokens from the top 500 that demonstrated the largest growth in prices are given in fig. 2. From the top 100, only the price of Binance Coin (+12.13%) and Nucleus Vision (+2.55%) increased.

The growth and fall of cryptocurrency prices over the past week (March 12-18, 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 top 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 500 and top 100 in terms of market capitalization (according to the data of coinmarketcap.com) were considered.

Figure 2. Largest growth in prices over the past week

weekly-cryptocurrency-analysis-march-12-18-2018-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 could have influenced the fluctuation in prices for certain cryptocurrencies. Table 1.4 shows the possible factors or events that could have influenced the cryptocurrency market in general.

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

Coins and tokensSymbolPrice growth over the week, %Average price in $ on Mar 18, 2018Market capitalization, USD billionFactors or events that could have led to a growth in cryptocurrency prices over the past week
1Ethereum Movie VentureEMV371.07%$1.720.01Seven of the ten coins in this list only showed a growth over the past week due to their low level of 24-hour trading volumes. Ethereum Movie Venture, KiloCoin, FedoraCoin, OxyCoin, Target Coin, DecentBet, and Lykke do not have large trading volumes. Some of them, for example, KiloCoin, which appreciated by 145% over the week, had 24-hour trading volumes that ranged from $0 to $2,000, which makes it very easy to manipulate the price. The other three coins from the list had fairly large trading volumes, and their growth was caused by specific news items. For example, Lympo was listed on the gate.io exchange on March 11 (https://twitter.com/Lympo_io/status/972822825944875009), which was followed by a growth in price. Linda coin announced the upcoming release of improvements to its product (https://twitter.com/coindar_/status/975029301430161414), and Binance Coin grew on the strength of news on the creation of the decentralized Binance exchange (https://support.binance.com/hc/en-us/articles/360001668872)
2KiloCoinKLC145.44%$0.0616420.01
3FedoraCoinTIPS59.62%$0.0000550.02
4OxycoinOXY48.24%$0.1000290.01
5Target CoinTGT31.98%$0.0263780.03
6LympoLYM23.20%$0.0274780.01
7LindaLINDA15.45%$0.0010870.01
8Binance CoinBNB12.13%$8.520.84
9DecentBetDBET12.01%$0.0980240.01
10LykkeLKK10.72%$0.1010550.03

 

A depreciation in price was seen for 474 coins and tokens of the top 500 cryptocurrencies and digital assets by capitalization over the past week. The ten cryptocurrencies that showed the most noticeable drops in price are shown in fig. 3.

Figure 3. Largest fall in prices over the past week

weekly-cryptocurrency-analysis-march-12-18-2018-figure-3

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

Coins and tokensSymbolFall in price over the week, %Average price in $ on Mar 18, 2018Market capitalization, USD billionFactors or events that could have led to a fall in cryptocurrency prices over the past week
1DragonchainDRGN40.94%$0.6306350.15The price trend of all the coins indicated in this list mirrors overall cryptocurrency market trends. During the period from March 12-18 cryptocurrency market capitalization fell by 15-18%. All 10 coins from the list showed a very similar range of fluctuations, which presumably means that they were influenced by the overall negative tone of the news, but were more susceptible to a fall (an elasticity of greater than one). It can be assumed that they will also show a more intense growth trend when the market begins to grow (see Table 1.4).

 

2ElectroneumETN39.08%$0.0292450.19
3Byteball BytesGBYTE38.94%$178.550.12
4VeritaseumVERI38.76%$100.180.20
5StatusSNT37.89%$0.0841020.29
6DentDENT36.38%$0.0088130.09
70xZRX35.55%$0.4035650.21
8StellarXLM34.54%$0.1889213.49
9NanoNANO33.85%$7.160.95
10KuCoin SharesKCS32.33%$2.060.19

 

Table 1.4 shows events that took place from March 12-18, 2018, and 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, March 12-18, 2018

Factors and events

(link to source)

Date of newsDescriptionNature of impactType of impact
1.                 Regarding Reparations to Users in Possession of NEM Illicitly Transferred From Our Platform [source: Coincheck.com]March 12, 2018The Japanese CoinCheck crypto exchange that was hacked on January 26 has started paying reparations to its clients who were affected. This news may have a positive impact on the market, as it shows that crypto exchanges are liable to their clients.Market ⇑

 

 

 

Favorable
2.                 The US Congress Included Cryptocurrencies in its Joint Economic Report for the First Time [source: Congress.gov]March 14, 2018For the first time, an entire section of the Joint Economic Report of the US Congress was devoted to the crypto industry and blockchain. This news underscores the interest of the legislative branch in this industry. However, it is impossible to say what affect this news will have on the market.Uncertain
3.                 Google to Ban Ads Promoting Cryptocurrencies and ICOs from June This Year [source: Coinspeaker]March 14, 2018Following in Facebook’s footsteps, Google has announced that it intends to ban all advertising related to the crypto industry and ICOs to limit the risks to consumers.Market ⇓Unfavorable
4.                 The Autorité des Marchés Financiers (AMF) is Publishing a List on its Website of Unauthorized Companies Proposing Atypical Investments Without Being Authorized to Do So [source: Amf-france.org]March 16, 2018On March 16 the Autorité des Marchés Financiers (AMF) announced that 15 cryptocurrencies and websites had been blacklisted. The press release states that the blacklisted cryptocurrencies had violated a law pursuant to which all investment proposals must receive a special registration number from the regulator.Market ⇓Unfavorable

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 March the 24-hour trading volumes (Volume 24h) for the four dominant cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, Ripple) equaled from $7.7 billion to $12.4 billion (Table 1.5.a).

The value of the daily ZAK-4 Crypto fluctuated from 2.7% to 4.7%. These are fairly high liquidity numbers, but only approximately half of what they were in January and February, when the index reached 10% (for example, at the time of the downward adjustment of the cryptocurrency market on February 6, 2018).

This attests to a partial decline in the activity of the dominant cryptocurrencies on the market, which can be attributed primarily to the largely negative tone of the news items aimed at identifying the risks of investment in this industry and the strong impact of regulation being introduced by countries.

Table 1.5.a. Daily ZAK-4 Crypto index calculation (from March 1, 2018, to March 18, 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%
Mar 18, 20187 891 6.6 133.5 552 2.7 54.2 948 0.4 16.1 0.630.9 24.8 10.7 228.7 4.7%
Mar 17, 20188 322 4.4 140.8 602 1.3 59.1 975 0.4 16.6 0.690.3 26.9 6.4 243.4 2.6%
Mar 16, 20188 323 5.3 140.8 612 1.4 60.1 944 0.5 16.1 0.700.5 27.3 7.7 244.3 3.1%
Mar 15, 20188 291 6.8 140.3 615 1.8 60.4 950 0.4 16.2 0.700.9 27.5 9.9 244.3 4.0%
Mar 14, 20189 215 6.4 155.9 691 1.8 67.9 1 072 0.4 18.2 0.790.5 30.9 9.1 272.8 3.3%
Mar 13, 20189 173 6.0 155.2 698 1.4 68.5 1 051 0.5 17.9 0.800.3 31.2 8.2 272.8 3.0%
Mar 12, 20189 603 6.5 162.4 724 1.8 71.1 1 144 0.4 19.5 0.830.4 32.5 9.0 285.5 3.2%
Mar 11, 20188 853 6.3 149.7 685 1.6 67.2 1 003 0.5 17.1 0.800.5 31.1 8.8 265.1 3.3%
Mar 10, 20189 351 5.4 158.1 730 1.5 71.6 1 071 0.4 18.2 0.850.4 33.4 7.7 281.4 2.7%
Mar 9, 20189 415 8.7 159.2 702 2.2 68.9 1 035 0.5 17.6 0.831.0 32.3 12.4 277.9 4.5%
Mar 8, 20189 951 7.2 168.2 753 1.9 73.8 1 095 0.4 18.6 0.870.5 34.1 10.0 294.8 3.4%
Mar 7, 201810 804 8.8 182.6 816 2.2 80.0 1 206 0.5 20.5 0.920.8 36.1 12.2 319.3 3.8%
Mar 6, 201811 500 6.8 194.4 854 1.9 83.7 1 264 0.4 21.5 0.950.9 37.3 10.1 336.9 3.0%
Mar 5, 201811 532 6.5 194.9 867 1.9 84.9 1 287 0.4 21.9 1.011.7 39.7 10.4 341.4 3.1%
Mar 4, 201811 497 6.1 194.3 856 1.7 83.9 1 268 0.4 21.6 0.910.8 35.4 8.9 335.1 2.7%
Mar 3, 201811 102 6.7 187.6 857 1.7 83.9 1 275 0.4 21.7 0.910.3 35.5 9.0 328.7 2.8%
Mar 2, 201810 977 7.6 185.5 872 1.9 85.4 1 285 0.4 21.8 0.930.3 36.2 10.2 328.9 3.1%
Mar 1, 201810 385 7.3 175.4 856 1.9 83.8 1 205 0.5 20.5 0.900.5 35.3 10.1 315.1 3.2%

* Data as of March 18, 2018, 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, Stellar, NEO, and Cardano) equaled $11.8 billion by the end of last week (Table 1.5.b), i.e. 4.7% of their market capitalization, which attests to the positive atmosphere and expectations prior to the start of the G20 summit.

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)NEO (NEO)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%
Mar 18, 20180.210.09 3.8 0.1540.24.0 61.20.254.0 1530.68.5 11.8 249.0 4.7%
Mar 17, 20180.230.03 4.3 0.1790.14.6 68.30.104.4 1650.49.2 7.0 265.9 2.6%
Mar 16, 20180.240.02 4.5 0.1870.14.8 69.70.114.5 1650.49.2 8.4 267.3 3.1%
Mar 15, 20180.250.05 4.6 0.1990.25.2 71.80.174.7 1610.69.0 10.9 267.7 4.1%
Mar 14, 20180.290.05 5.4 0.2230.15.8 83.40.155.4 1760.59.8 10.0 299.2 3.3%
Mar 13, 20180.290.02 5.4 0.2230.15.8 85.60.125.6 1780.59.9 8.9 299.4 3.0%
Mar 12, 20180.300.03 5.6 0.2240.25.8 91.50.135.9 1890.610.5 9.9 313.4 3.2%
Mar 11, 20180.290.03 5.4 0.2100.25.4 85.40.125.6 1780.79.9 9.8 291.4 3.4%
Mar 10, 20180.320.02 5.8 0.2250.15.8 93.30.126.1 1880.610.5 8.6 309.6 2.8%
Mar 9, 20180.310.06 5.8 0.2210.25.7 91.70.226.0 1760.99.8 13.9 305.2 4.6%
Mar 8, 20180.330.05 6.1 0.2480.26.4 100.50.166.5 1860.610.3 11.0 324.1 3.4%
Mar 7, 20180.340.06 6.2 0.2850.27.4 105.40.306.8 1970.810.9 13.5 350.7 3.9%
Mar 6, 20180.350.04 6.5 0.2960.17.7 112.30.207.3 2110.711.7 11.1 370.0 3.0%
Mar 5, 20180.360.10 6.7 0.3000.27.8 120.10.217.8 2140.611.9 11.5 375.5 3.1%
Mar 4, 20180.350.10 6.5 0.2960.17.7 121.80.187.9 2100.611.7 9.9 368.9 2.7%
Mar 3, 20180.320.05 5.9 0.2930.17.6 124.30.138.1 2140.711.9 10.0 362.1 2.8%
Mar 2, 20180.340.04 6.3 0.3040.17.9 130.00.158.4 2100.611.6 11.1 363.1 3.1%
Mar 1, 20180.330.05 6.2 0.3120.28.1 133.70.288.7 2030.711.3 11.3 349.3 3.2%

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.Thomson Reuters Launches Bitcoin Sentiment Data Feed for Trading and Risk Management [source: Reuters.com]March 12, 2018The addition by Thomson Reuters, a popular media outlet in the financial sector, of a section devoted to Bitcoin shows the interest of its audience in this topic.Market ⇑Favorable
2.The Largest Crypto Exchange Binance Announced the Development of Its Own Decentralized Exchange [source: Coinspeaker.com]March 13, 2018The decentralization of crypto exchanges is the next step in the crypto industry, one that will facilitate a further growth in trading in crypto assets.Market ⇑Favorable
3.Japan to Call for Crypto Rules at the G20 Summit [source: Bitcoin.com]March 14, 2018Japan has been actively discussing the drafting of new laws for the crypto industry in its country, and would also like to raise the issue of global control over crypto at the G20 summit. The tone of the discussion of this issue at the summit could have a huge impact on the market.MarketUncertain

 

    1.2 Market trends

The weekly cryptocurrency and digital asset market trends from October 1, 2017, to March 18, 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 October 1, 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 January 1, 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 October 1, 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 October 1, 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 March 18, 2018, this number had already reached 1,526.
Average market capitalization, USD millionFig. 1.3This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from October 1, 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 March 18, 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-march-12-18-2018-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 October 1, 2017, to March 18, 2018. Over this period, market capitalization increased from $146.9 billion to $296 billion, a growth of 1,572% relative to the start of 2017. Therefore, everyone who entered the cryptocurrency market in early 2017 was able to receive high returns due to market growth. Since the beginning of 2018, those who have been speculating on a bear market have found themselves in the best position. Last week (March 12-18, 2018) was no exception, with cryptocurrency market capitalization dropping from $360.1 billion to $296 billion (as of March 18, 2018, based on the average figures from coinmarketcap.com).

 Figure 1.2. Change in market capitalization

weekly-cryptocurrency-analysis-march-12-18-2018-figure-1-2

The market is susceptible to sudden and drastic fluctuations. The highest growth rate in Q4 2017 (December 17-24, 2017) was around $200 billion, or 54%. During the first week of January, market capitalization increased by approximately $250 billion, or 44%.

Already, eight of the first eleven weeks in the first quarter of 2018 have been “in the red”, i.e. capitalization fell based on the results for each of these weeks. Last week the market once again shrunk by $64.1 billion, or 18% (with due account of average daily data, see fig. 1.2).

Figure 1.3. Number of cryptocurrencies and digital assets

weekly-cryptocurrency-analysis-march-12-18-2018-figure-1-3

Data source: coinmarketcap.com

Since the beginning of October 2017, the total number of cryptocurrencies and digital assets considered when calculating market capitalization has increased from 1,091 to 1,526. Their number remained practically the same over the last week, and average capitalization dropped below $200 million. Over the past month, 56 new coins and tokens have appeared on coinmarketcap.com, 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-march-12-18-2018-figure-1-4

weekly-cryptocurrency-analysis-march-12-18-2018-figure-1-5

A uniformity of price changes has been observed for the majority of coins and tokens for several weeks in a row. However, both the increase and decrease in the prices of altcoins are usually more pronounced, and follow in the wake of the market flagman – bitcoin.

For example, in March 2018 bitcoin dominance increased in a falling market due to the sharper fall in altcoin prices, whereas from December 8, 2017, to January 8, 2018, the opposite was true – bitcoin dominance quickly fell in a rapidly growing market due to the faster rate of altcoin growth.

This week an important and determining factor for further development will be the discussion of regulation issues at the G20 summit in Buenos Aires (Argentina).

The results of this event could have a lasting effect over the coming month as news of the event spreads and national policies for regulation of the cryptocurrency market are implemented. Alternatives that envisage possible coordinated actions by countries aimed at the cryptocurrency market will be especially interesting, including those that refer to combatting money laundering, tax evasion and fraud.

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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