Check out the report jointly created by OK Blockchain Capital and Coinspeaker covering main trends of blockchain industry over July 14 – July 22, 2018, with strong focus placed on the market overview, analysis of the newly listed and closed public sales projects, along with topical news on global governmental policies.

This week, the market became more bullish with the BTC price raising to $7000 support. We observed that the risk preference increased in the past week. We also closely followed the new trend in the blockchain industry — “Trans-fee Mining”. We are going to introduce the concept of “dynamic mining difficulty” in this report.

OK blockchain capital is committed to exploring the cutting-edge technology of blockchain, setting benchmarks for high-quality analysis, guiding the sound development of the industry. Follow us on medium, to get more  articles.

1. Market Overview

The past week’s daily average global market capitalization of cryptocurrency was $268.29 billion and the daily average transaction volume was $13.90 billion, indicating a incline of 1.91% and 7.32% respectively. The daily average market capitalization of the top five cryptocurrencies increased by 2.62% from the previous week. Among the top five — all of which increased in price — EOS has experienced the greatest price increase by 34.45% in the past week.

Of the top 10 cryptocurrencies that increased this week, 50% of the projects were of the vertical industrial application sector. Also, RBLX of the basic chain and protocol sector experienced the greatest increase in price by 128.74%.

RankingProjectTokenFieldBrief descriptionTrading volume (24k)Token priceIncrease/7d
1RublixRBLXBasic chain in protocolRublix combines artificial intelligence, blockchain and financial

markets to sen e all investors and money managers.

$6.40 M$0.33128.74%
2ScrollSCRLData servicesThe Scroll network stores data in the blockchain that supports data transfer at enterprise-level transaction rates.$5,646 M$0.1452.05%
3NeumarkNEUAsset

management

Neufund is a blockchain financing platform where investors can use cryptocurrencies in exchange for equity to fund startups.SI .841 M$0.5935.95%
4IgnisIGNISBasic chain in protocolIgnis is the first sub-chain of Ardor.$147,719 M$0.0928.72%
5Anion AnionAMNWalletAnion is a cryptocurrency debit card that can be used as a wallet for multiple cryptocurrencies.S10.46M$0.0125.67%
6Blue ProtocolBLUEBasic chain in protocolWith the BLUE protocol, payments and transfers can be easily made without sacrificing security.$40.21 M$0.1222.88%
7SwisscoinSICCryptocurrency and paymentSwisscoin uses a cryptocurrency of the POW/POS hybrid mechanism.$5.67 M$0.0022.71%
8GuccioneCoinGCCC ryptocurrency and paymentGCC is a cryptocurrency designed to cover all sendees offered by GCC Group and 3D print shops.$10.65 M$0.0022.64%
9TruegameTGAMEGameTGAME is an e-sports platform based on smart contracts.$9.25 M$0.0321.96%
10VeriMEVMEDigital identityVeriME offers Blockchain-based Verification as a Sendee (VaaS) products.$14.22 M$0.0220.34%

2. Analysis of Top 200 Market Cap Projects

The market capitalization of top 200 projects increased by 15.37% compared with that of last week. Based on the main categories of cryptocurrency and payment, basic chain and protocol, vertical chain and protocol, and vertical industrial application, the vertical industrial application sector increased the most.

Through further classification of the vertical chain and protocol and the vertical industrial application categories, it was found that this week’s tourism and exchange platform token verticals were on obvious increases at a rate of 35.65% and 31.79% respectively. The E-commerce and transportation verticals experienced the greatest decreases with the rate of 9.01% and 2.33% respectively.

Data Source: OK Blockchain Capital

3. Analysis of Newly Listed Projects

There were 14 new projects in the market last week (mainly of the content copyright vertical), 78.57% of which dropped in price within 24 hours of listing. Most of the newly issued tokens were listed on Gate.io and BitForex.

ProjectTokenFieldExchange platformInitial Listed Price ($)Current Price ($)24h Trading Volume ($10K)Launch Date
NUSDNUSDPaymentKucoin0.99871.0011.127/14
EveripediaIQContent copyrightGate.io,BigONE, Bitfinex,OTCBTC0.0528020.0598.97/14
BitMart TokenBMXExchange platform tokenBitMart, DDEX0.04330.05192.507/14
XMCTXMCTMedical healthBitForex, CoinBene0.041460.04109.37/16
RECORDRCDContent copyrightCoinBene0.041S0.046.477/16
PlayCoinPLYGameLbankx, Bit-Z, Cobinhood0.12630.12105.67/16
No BS CryptoNOBSAsset ManagementBitForex0.00130.002.57/18
TGAMETGAMEGameLivecouiN EDEXs Exrates0.02310.025.687/18
Engagement TokenENGTContent copyrightExrates0.0479$0.04221.77/18
VITEVITEBasic chain in protocolCoinExx IDEX0.10580.1169.77/18
HashgardGARDAsset ManagementGate.io, Hotbit0.00060.00262.87/18
ScrollSCRLData servicesHotbiK LATOKEN0.09360.109.887/18
SpSdeSPXGamblingLATOKEN0.00030.00167/18
AegeusAEGCryptocurrency and paymentClyptoBridge, CoinExchange0.05450.061.177/18

4. Analysis of Closed Public Sales Projects

There were 30 closed public sales projects this week, totaling nearly 250 million USD. Among these projects, projects of the asset management vertical received most funding. This was closely followed by projects of the payment vertical.

ProjectTokenFieldPlatformSoft Cap/$10K
CasinolizeCLZGamblingEthereum120
Kinetic RevolutionKRCPaymentEthereum7500ETH
AirPodAPODConsumerismEthereum270
VeioVEOEnergyEthereum5000 ETH
MarketCCMKPaymentXll550
PayizaPYZExchange platformEthereum200
AiconaARCON AEntertainmentEthereum2746 ETH
llvCAREFCCMedical healthEthereum1 Million EUR
DISCIPLINA by TeachMePleaseDSCPEducationEthereum7000 ETH
CryptosolartechCSTEnergyEthereum5000 ETH
LocalXposeLXPShared EconomyStellar15
PexCashPEXCExchange platfonnEthereum600 ETH
MiBoodleMIBOSocial networkEthereum5000 ETH
OFNOGOFNOGAsset managementEthereum1500
CryptfunderCFNDAsset managementEthereum3000 ETH
LightBitAtomLBA TokenExchange platformEthereum100
XefoCoinXEFCryptocurrency and paymentEthereum54
Global SpySPYCoiporate sendeesEthereum1.000 ETH
PaypoitalPPTLPaymentEthereum3000 ETH
TripagoTPG TokenTourismEthereum5000 ETH
SOFINSOFINLendingNEO100
European Crypto BankECBAsset managementEthereum5 Million EUR
ZantepayZNXWalletEthereum0.5 Million EUR
SlateSLXEntertainmentSlatechain2000
TravelBlockTRVLTourismEthereum450
FTECFTECAsset managementEthereum2.000 ETH
OxcertZXCBasic chain in protocolEthereum5000 ETH
HPQHPQAsset managementEthereum165
HumanixrHNXSocial networkEthereum200
TixguruTIXAsset managementEthereum10 000 ETH

5. Important News on Global Governmental Policies this Past Week

Below is a list of some of the most important global news on governmental policies on blockchain and cryptocurrency. The picture below is for reference to how strict/loose some countries are with their regulations.

United States

The Texas National Securities Commission has taken immediate actions to prevent illegal investments in companies associated with cryptocurrencies. Due to large-scaled frauds in crypto-businesses, various token providers and mining companies have become major targets of the Securities and Exchange Commission.

Switzerland

The Swiss Financial Market Regulatory Authority recently issued new ICO and token related regulations. 1. Any ICO related payment tokens is subject to the requirements of the Anti-Money Laundering Act. 2. Utility tokens and asset tokens are subject to the Securities and Stock Exchange regulations.

Mongolia

Mongolia has established the National Blockchain Digital Assets Exchange (MDEX), becoming the first exchange platform to be named after a country and to have a financial license issued by the nation. This platform will be launched officially in August.

China

The People’s Bank of China issued the notice on “Requirements on Reporting for Non-Bank Payment Institutions to Carry out Large-Scale Transactions”, requiring non-bank payment institutions to report any transactions with a cumulative amount over 50,000 yuan per day.

South Africa

The South African Ministry of Finance has proposed amendments to the Income Tax Act to determine the tax form for cryptocurrencies. The draft amendment to the tax law proposes to include cryptocurrency in three aspects: the definition of the financial instrument for income tax law, the definition of financial services in the VAT law, and the fence principle for assessing the loss clause in the income tax law.

Thailand

The Thai Bond Market Association (TBMA) is studying the application of blockchain in the field of Thai bond registration services. The Thailand Securities Regulatory Commission said it has agreed that the bond registration system will officially begin full operation in August.

Phillipines

The Northern Special Economic Zone of the Philippines — the Authority of the Cagayan Special Economic Zone (CEZA) announced that it will release its own cryptocurrency in late July.

Japan

The National Tax Agency of Japan announced that it has implemented a simplified tax return method that will automatically calculate the profit and tax from the trading of cryptocurrency. Cryptocurrency trading profits more than 1,800 US dollars in one year will be taxed.

6. Keeping Up with the Blockchain Giants

July 14th

Xuanya International Blockchain Lab launched its first product “Yes Or NO”, which provides a good market research and market forecasting function, and will be built as a community product that can provide long-term insight into user attitudes and trends.

July 15th

Remittance company Tempo announced the use of XLM (Stellar) as the underlying token for its digital currency payment network.

Dragon Chain Capital invested in BitForex, with an exchange platform token called BF Token. Dragon Chain Capital has joined strategically and will fully support BitForex to build a new, autonomous, transparent and shared exchange, and jointly promote the development of the blockchain to the 3.0 era.

July 16th

BitPay, the world’s largest blockchain payment provider, received BitLicense, a virtual currency license issued by the New York State Department of Financial Services.

Oracle Software officially launched its blockchain platform, which will enable users to track supply chains across blockchain data, track global transportation systems, and allow for cross-border payment.

July 17th

China Merchants Bank’s subsidiary, CMB International, announced the investment in blockchain and completed a number of equity investment transactions through its funds: including Nervos and Cryptape.

July 18th

Japan’s financial giant SBI became listed on exchange platform VCTRADE for individual traders.

IBM and financial services firm Stronghold launched a stable currency of Stronghold USD linked to the US dollar. This is the first stable coin to use the Stellar Network.

July 19th

Blockchain technology-based financial services provider DelphX announced that it is working with Reuters’ parent company, Thomson Reuters, to provide a new cloud data service solution through Thomson Reuters’ data platform Elektron.

July 20th

Japan’s fourth largest communications giant NTT applied for a patent for a blockchain protocol system, which can encrypt and distribute contracts and simplify the verification process.

7. Hot topic of the week: “Trans-fee Mining”CoinEx innovative token quantity control

“Trans-fee Mining” is currently a hot trend in the blockchain space. Since May 2018, Fcoin’s “Trans-fee Mining” model has attracted a large number of users. Speculative funds have also quickly moved into the field for arbitrage, and followers have also swarmed into the space. According to some statistics, by June, no fewer than 10 digital asset exchanges implemented a trading-mining mode.

The positive circulation in the “Trans-fee Mining” model depends on the stability or rise of the token price. The operations of the trading platform is generally to provide functions for the demand side, such as support trays, lock positions, and etc. The innovation of CoinEx lies in the production limit of “Trans-fee Mining” from the output end of exchange platform tokens to ensure the long-term sustainable development of the platform.

On July 1, 2018 (UTC), CoinEx launched the “Trans-fee Mining” campaign. The difficulty of mining is introduced into the “Trans-fee Mining” rules to control the output. The difficulty of mining is defined as: the limit amount of CET (exchange platform token) one can mine in an hour. With the increase in the number of people who are mining, current mining difficulty becomes more difficult to meet the needs of most users.

CoinEx has re-innovated the control of production which was launched on 8:00 on July 12, 2018, Hong Kong time, and revised the typical “Trans-fee Mining” rules. The participation conditions are to complete the real-name certification and lock at least 10,000 CETs, and modify the mining difficulty to: Within every hour, every account will have a mining quantity limit proportionate to its locked CET. The more CETs that are locked, the more CET you can mine within every hour.

Mining difficulty = total locked CET / 10000 * benchmark difficulty

For example: the benchmark difficulty is 100 CET/hour for every 10,000 CET that are locked, a user has 1 million CET that are locked. Then, the user mining difficulty = 1 million / 10000 * 100 CET / hour, which equals to 10000 CET / hour. This means this user can mine 10000 CET per hour if the benchmark difficulty remains the same.

Analyst evaluation: CoinEx requires real-name certification and dynamically adjusts the difficulty of mining to limit the amount of mining that each user can mine every hour. The more CETs that are locked, the more CETs a user can mine per hour. By restricting the daily CET output to avoid a large amount of CET dumping, the price of CET is stable. It turns out that out of all “Trans-fee Mining” models, the CET price is the most stable. almost every other exchanges that simply copy the Fcoin model experienced high open and low close price.

Appendix

Upcoming Crowdfunding Projects(7.21–7.27)

ProjectTokenPublic offering launch datePublic offering close dateFieldToken QuantityPublic offering percentage*Hard cap
OSAOSA2018/7/202018/8/21Data services4.6 B22%$40 M
OnasanderONA2018/7/222018/8/23Asset management$5 M
CrowdPrecisionC’PT2018/7/222018/8/19Asset management30000 ETH
InsCoin for Knox ProjectINSC2018/7/232018/8/30Insurance500 M54%39444 ETH
LogisticsXPNP2018/7/232018/8/31Transportation1 B40%$11 M
VanigVANIG2018/7/232018/9/25E-commerce218 M65%$20 M
HiPHiP2018/7/232018/8/31Asset management€13.6 M
SolidifiedSolid2018/7/232018/10/23Security4 M60%36.000 ETH
TrastVerseTVS2018/7/232018/8/10Asset  management1 B40%$35 M
Peer MountainPMTN2018/7/232018/8/23Digital identity832 M40%39.500 ETH
All SparkASK2018/7/232018/8/15Basic chain in protocol300 M40%40.000 ETH
TmstLogicsTLT2018/7/252018/8/20Human resources469 M55%$16 M
MonetizrMTZ2018/7/252018/8/25Game6.67 B50%$18 M
AleliubALE2018/7/252018/9/24Crowdsourcing144 M77%57.713          ETH
ModexMDX2018/7/252018/8/25Basic chain in
protocol
263 M75%$125 M
HashbonHASH2018/7/262018/10/31Development tools200 M75%$10 M
HyperQuantHQT2018/7/262018/8/25Finance320 M45%41,143 ETH
QuadranteQUAD2018/7/262018/7/26Data services1 B40%$20 M
BitForexBF2018/7/272018/7/31Exchange platform
token
125 B8%55,000 ETH
MonetaHawkMNH2018/7/272018/9/30Exchange platform100 M50%10,000 ETH
W Green PayWGP2018/7/272018/8/27Environmental protection1 B20%$400 M
AencoAEN2018/7/272018/8/31Asset management4 B15%$60 M