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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.
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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%.
|Ranking||Project||Token||Field||Brief description||Trading volume (24k)||Token price||Increase/7d|
|1||Rublix||RBLX||Basic chain in protocol||Rublix combines artificial intelligence, blockchain and financial|
markets to sen e all investors and money managers.
|2||Scroll||SCRL||Data services||The Scroll network stores data in the blockchain that supports data transfer at enterprise-level transaction rates.||$5,646 M||$0.14||52.05%|
|Neufund is a blockchain financing platform where investors can use cryptocurrencies in exchange for equity to fund startups.||SI .841 M||$0.59||35.95%|
|4||Ignis||IGNIS||Basic chain in protocol||Ignis is the first sub-chain of Ardor.||$147,719 M||$0.09||28.72%|
|5||Anion Anion||AMN||Wallet||Anion is a cryptocurrency debit card that can be used as a wallet for multiple cryptocurrencies.||S10.46M||$0.01||25.67%|
|6||Blue Protocol||BLUE||Basic chain in protocol||With the BLUE protocol, payments and transfers can be easily made without sacrificing security.||$40.21 M||$0.12||22.88%|
|7||Swisscoin||SIC||Cryptocurrency and payment||Swisscoin uses a cryptocurrency of the POW/POS hybrid mechanism.||$5.67 M||$0.00||22.71%|
|8||GuccioneCoin||GCC||C ryptocurrency and payment||GCC is a cryptocurrency designed to cover all sendees offered by GCC Group and 3D print shops.||$10.65 M||$0.00||22.64%|
|9||Truegame||TGAME||Game||TGAME is an e-sports platform based on smart contracts.||$9.25 M||$0.03||21.96%|
|10||VeriME||VME||Digital identity||VeriME offers Blockchain-based Verification as a Sendee (VaaS) products.||$14.22 M||$0.02||20.34%|
2. Analysis of Top 200 Market Cap Projects
The market capitalization of top 200 projects increased by 15.37% compared with that of last week. Based on the main categories of cryptocurrency and payment, basic chain and protocol, vertical chain and protocol, and vertical industrial application, the vertical industrial application sector increased the most.
Through further classification of the vertical chain and protocol and the vertical industrial application categories, it was found that this week’s tourism and exchange platform token verticals were on obvious increases at a rate of 35.65% and 31.79% respectively. The E-commerce and transportation verticals experienced the greatest decreases with the rate of 9.01% and 2.33% respectively.
Data Source: OK Blockchain Capital
3. Analysis of Newly Listed Projects
There were 14 new projects in the market last week (mainly of the content copyright vertical), 78.57% of which dropped in price within 24 hours of listing. Most of the newly issued tokens were listed on Gate.io and BitForex.
|Project||Token||Field||Exchange platform||Initial Listed Price ($)||Current Price ($)||24h Trading Volume ($10K)||Launch Date|
|Everipedia||IQ||Content copyright||Gate.io,BigONE, Bitfinex,OTCBTC||0.052802||0.05||98.9||7/14|
|BitMart Token||BMX||Exchange platform token||BitMart, DDEX||0.0433||0.05||192.50||7/14|
|XMCT||XMCT||Medical health||BitForex, CoinBene||0.04146||0.04||109.3||7/16|
|PlayCoin||PLY||Game||Lbankx, Bit-Z, Cobinhood||0.1263||0.12||105.6||7/16|
|No BS Crypto||NOBS||Asset Management||BitForex||0.0013||0.00||2.5||7/18|
|TGAME||TGAME||Game||LivecouiN EDEXs Exrates||0.0231||0.02||5.68||7/18|
|Engagement Token||ENGT||Content copyright||Exrates||0.0479||$0.04||221.7||7/18|
|VITE||VITE||Basic chain in protocol||CoinExx IDEX||0.1058||0.11||69.7||7/18|
|Hashgard||GARD||Asset Management||Gate.io, Hotbit||0.0006||0.00||262.8||7/18|
|Scroll||SCRL||Data services||HotbiK LATOKEN||0.0936||0.10||9.88||7/18|
|Aegeus||AEG||Cryptocurrency and payment||ClyptoBridge, CoinExchange||0.0545||0.06||1.17||7/18|
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.
|Aicona||ARCON A||Entertainment||Ethereum||2746 ETH|
|llvCARE||FCC||Medical health||Ethereum||1 Million EUR|
|DISCIPLINA by TeachMePlease||DSCP||Education||Ethereum||7000 ETH|
|PexCash||PEXC||Exchange platfonn||Ethereum||600 ETH|
|MiBoodle||MIBO||Social network||Ethereum||5000 ETH|
|Cryptfunder||CFND||Asset management||Ethereum||3000 ETH|
|LightBitAtom||LBA Token||Exchange platform||Ethereum||100|
|XefoCoin||XEF||Cryptocurrency and payment||Ethereum||54|
|Global Spy||SPY||Coiporate sendees||Ethereum||1.000 ETH|
|Tripago||TPG Token||Tourism||Ethereum||5000 ETH|
|European Crypto Bank||ECB||Asset management||Ethereum||5 Million EUR|
|Zantepay||ZNX||Wallet||Ethereum||0.5 Million EUR|
|FTEC||FTEC||Asset management||Ethereum||2.000 ETH|
|Oxcert||ZXC||Basic chain in protocol||Ethereum||5000 ETH|
|Tixguru||TIX||Asset management||Ethereum||10 000 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.
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.
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 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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
Upcoming Crowdfunding Projects（7.21–7.27)
|Project||Token||Public offering launch date||Public offering close date||Field||Token Quantity||Public offering percentage*||Hard cap|
|OSA||OSA||2018/7/20||2018/8/21||Data services||4.6 B||22%||$40 M|
|Onasander||ONA||2018/7/22||2018/8/23||Asset management||–||–||$5 M|
|CrowdPrecision||C’PT||2018/7/22||2018/8/19||Asset management||–||–||30000 ETH|
|InsCoin for Knox Project||INSC||2018/7/23||2018/8/30||Insurance||500 M||54%||39444 ETH|
|LogisticsX||PNP||2018/7/23||2018/8/31||Transportation||1 B||40%||$11 M|
|Vanig||VANIG||2018/7/23||2018/9/25||E-commerce||218 M||65%||$20 M|
|HiP||HiP||2018/7/23||2018/8/31||Asset management||–||–||€13.6 M|
|Solidified||Solid||2018/7/23||2018/10/23||Security||4 M||60%||36.000 ETH|
|TrastVerse||TVS||2018/7/23||2018/8/10||Asset management||1 B||40%||$35 M|
|Peer Mountain||PMTN||2018/7/23||2018/8/23||Digital identity||832 M||40%||39.500 ETH|
|All Spark||ASK||2018/7/23||2018/8/15||Basic chain in protocol||300 M||40%||40.000 ETH|
|TmstLogics||TLT||2018/7/25||2018/8/20||Human resources||469 M||55%||$16 M|
|Monetizr||MTZ||2018/7/25||2018/8/25||Game||6.67 B||50%||$18 M|
|Aleliub||ALE||2018/7/25||2018/9/24||Crowdsourcing||144 M||77%||57.713 ETH|
|Modex||MDX||2018/7/25||2018/8/25||Basic chain in|
|263 M||75%||$125 M|
|Hashbon||HASH||2018/7/26||2018/10/31||Development tools||200 M||75%||$10 M|
|HyperQuant||HQT||2018/7/26||2018/8/25||Finance||320 M||45%||41,143 ETH|
|Quadrant||eQUAD||2018/7/26||2018/7/26||Data services||1 B||40%||$20 M|
|125 B||8%||55,000 ETH|
|MonetaHawk||MNH||2018/7/27||2018/9/30||Exchange platform||100 M||50%||10,000 ETH|
|W Green Pay||WGP||2018/7/27||2018/8/27||Environmental protection||1 B||20%||$400 M|
|Aenco||AEN||2018/7/27||2018/8/31||Asset management||4 B||15%||$60 M|