Wednesday, December 27, 2017

Weekly Cryptocurrency and ICO Market Analysis [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

Parameter 1-Nov-17 1-Dec-17 MoM, % 3-Dec-17 DoD, % 10-Dec-17 DoD, % 17-Dec-17 DoD, % 24-Dec-17 DoD, %
1 Total market capitalization, USD billion 182.6 305.1 67.1% 329.1 7.8% 416.9 26.7% 579.5 39.0% 566.3 -2.3%
2 Altcoin market capitalization, USD billion 75.4 134.7 78.7% 143.8 6.8% 163.1 13.4% 253.4 55.4% 321.5 26.9%
Altcoin dominance, % 41.3% 44.1% 7.0% 43.7% -1.0% 39.1% -10.5% 43.7% 11.8% 56.8% 29.8%
3 Bitcoin price, $ 6 441.0 10 198.6 58.3% 11 082.7 8.7% 15 168.4 36.9% 19 475.8 28.4% 14 608.2 -25.0%
Bitcoin market capitalization, USD billion 107.3 170.4 58.9% 185.3 8.7% 253.8 37.0% 326.1 28.5% 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%
4 Ethereum price, $ 305.8 445.2 45.6% 463.7 4.2% 472.8 2.0% 696.2 47.3% 721.8 3.7%
Ethereum market capitalization, USD billion 29.2 42.8 46.5% 44.6 4.2% 45.5 2.1% 67.1 47.5% 69.7 3.8%
Ethereum dominance, % 16.0% 14.0% -12.3% 13.5% -3.4% 10.9% -19.4% 11.6% 6.1% 12.3% 6.2%
5 Bitcoin Cash price, $ 438.3 1 381.8 215.3% 1 435.4 3.9% 1 411.8 -1.6% 1 812.3 28.4% 3 260.6 79.9%
Bitcoin Cash market capitalization, USD billion 7.3 23.3 216.8% 24.2 3.9% 23.8 -1.6% 30.6 28.5% 55.0 80.0%
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%
6 Litecoin price, $ 55.7 88.0 57.9% 100.2 13.9% 155.6 55.3% 301.8 93.9% 291.0 -3.6%
Litecoin market capitalization, USD billion 3.0 4.8 59.2% 5.4 13.9% 8.4 55.7% 16.4 94.3% 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%
7 Smith + Crown Index 12 083 18 058 49.4% 20 456 13.3% 25 891 26.6% 34 989 35.1% 28 997 -17.1%
8 Volume (24h) 4 crypto, USD billion 3.5 9.2 9.2 0.3% 15.9 72.9% 17.3 8.6% 16.3 -5.5%
Market cap 4 crypto, USD billion 144.2 246.1 263.9 7.2% 332.6 26.0% 453.0 36.2% 415.0 -8.4%
ZAK-4 Crypto index 2.4% 3.7% 3.5% -6.4% 4.8% 37.1% 3.8% -20.3% 3.9% 3.2%
9 Volume (24h) 8 crypto, USD billion 10.3 9.9 -3.4% 17.9 80.5% 20.4 13.6% 18.0 -11.6%
Market cap 8 crypto, USD billion 263.5 282.7 7.3% 363.8 28.7% 498.2 37.0% 461.5 -7.4%
ZAK-8 Crypto index 3.9% 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, Dash, IOTA and Cardano.
Data source: coinmarketcap.com, http://ift.tt/2eVh2uv

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)

Crypto Bitcoin (BTC) Ethereum (ETH) Bitcoin Cash (BCH) Ripple (XRP) 4 Crypto
  Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h) 4 crypto Market cap 4 crypto ZAK-4 Crypto index
Date $ USD billion USD billion $ USD billion USD billion $ USD billion USD billion $ USD billion USD billion USD billion USD billion %
Dec 24, 2017 14 608 11.6 244.8 722 2.3 69.7 3261 1.7 55.0 1.180 0.8 45.5 16.3 415.0 3.9%
Dec 23, 2017 13 949 13.1 233.7 681 2.5 65.8 2747 2.8 46.3 1.170 1.5 45.2 19.9 391.0 5.1%
Dec 22, 2017 15 898 22.2 266.4 823 5.0 79.4 3324 3.9 56.1 1.170 4.6 45.2 35.7 447.0 8.0%
Dec 21, 2017 16 642 16.5 278.8 820 3.6 79.1 3909 3.7 65.9 0.783 3.6 30.3 27.4 454.2 6.0%
Dec 20, 2017 17 760 22.1 297.5 828 4.0 79.8 2825 11.9 47.6 0.787 1.0 30.5 39.0 455.5 8.6%
Dec 19, 2017 19 118 16.9 320.2 794 4.1 76.6 2199 3.9 37.1 0.777 1.4 30.1 26.4 464.0 5.7%
Dec 18, 2017 19 106 14.8 320.0 722 3.2 69.6 1869 2.5 31.5 0.728 1.3 28.2 22.0 449.3 4.9%
Dec 17, 2017 19 476 13.3 326.1 696 2.1 67.1 1812 1.0 30.6 0.754 0.8 29.2 17.3 453.0 3.8%
Dec 16, 2017 17 760 12.7 297.4 686 2.2 66.1 1825 1.0 30.8 0.755 1.3 29.3 17.2 423.5 4.1%
Dec 15, 2017 16 601 14.3 277.9 696 2.8 67.1 1975 1.5 33.3 0.862 3.2 33.4 21.7 411.7 5.3%
Dec 14, 2017 16 385 13.8 274.3 701 3.8 67.5 1601 2.7 27.0 0.471 6.4 18.2 26.7 387.0 6.9%
Dec 13, 2017 17 500 13.0 292.9 645 4.5 62.1 1617 1.2 27.2 0.373 2.7 14.4 21.5 396.7 5.4%
Dec 12, 2017 16 920 14.6 283.2 522 5.2 50.3 1427 1.4 24.1 0.252 1.6 9.8 22.7 367.3 6.2%
Dec 11, 2017 15 427 12.2 258.1 440 1.8 42.4 1320 0.9 22.2 0.237 0.2 9.2 15.0 331.9 4.5%
Dec 10, 2017 15 168 13.4 253.8 473 1.4 45.5 1412 0.9 23.8 0.246 0.2 9.5 15.9 332.6 4.8%
Dec 9, 2017 16 523 13.9 276.4 457 2.0 44.0 1465 1.1 24.7 0.252 0.2 9.8 17.2 354.9 4.8%
Dec 8, 2017 17 803 21.1 297.8 435 2.3 41.8 1329 2.6 22.4 0.224 0.7 8.7 26.7 370.7 7.2%
Dec 7, 2017 14 266 18.0 238.6 426 2.1 41.0 1431 1.3 24.1 0.233 0.3 9.0 21.6 312.7 6.9%
Dec 6, 2017 11 923 12.7 199.4 463 2.0 44.5 1498 1.2 25.2 0.245 0.3 9.5 16.1 278.6 5.8%
Dec 5, 2017 11 686 6.9 195.4 470 1.2 45.2 1580 1.0 26.6 0.254 0.2 9.8 9.3 277.0 3.4%
Dec 4, 2017 11 315 6.1 189.2 466 1.0 44.8 1560 0.8 26.3 0.253 0.1 9.8 8.0 270.0 3.0%
Dec 3, 2017 11 083 6.6 185.3 464 1.0 44.6 1435 1.5 24.2 0.256 0.1 9.9 9.2 263.9 3.5%
Dec 2, 2017 10 978 5.1 183.5 467 0.9 44.9 1462 0.6 24.6 0.256 0.1 9.9 6.8 262.8 2.6%
Dec 1, 2017 10 199 6.8 170.4 445 1.2 42.8 1382 1.0 23.3 0.250 0.2 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)

Crypto IOTA (MIOTA) Cardano (ADA) Dash (DASH) Litecoin (LTC) 8 Crypto
  Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Price Open Volume (24h) Market cap Volume (24h) Market cap ZAK-8 Crypto index
Date $ USD billion USD billion $ USD billion USD billion $ USD billion USD billion $ USD billion USD billion USD billion USD billion %
Dec 24, 2017 3.61 0.2 9.8 0.417 0.1 10.8 1287 0.2 10.0 291 1.1 15.8 18.0 461.5 3.9%
Dec 23, 2017 3.51 0.8 14.1 0.414 0.1 10.7 1199 0.3 9.3 269 1.4 14.7 22.5 439.8 5.1%
Dec 22, 2017 5.08 0.4 14.1 0.479 0.2 12.4 1442 0.5 11.2 319 2.9 17.4 39.7 502.1 7.9%
Dec 21, 2017 5.08 0.6 14.9 0.490 0.2 12.7 1556 0.5 12.1 315 1.6 17.1 30.2 511.0 5.9%
Dec 20, 2017 5.37 1.1 11.8 0.534 0.2 13.8 1185 0.8 9.2 350 2.1 19.0 43.2 509.3 8.5%
Dec 19, 2017 4.24 0.4 11.0 0.520 0.3 13.5 1165 0.3 9.0 359 2.2 19.5 29.5 517.0 5.7%
Dec 18, 2017 3.95 0.4 10.1 0.512 0.3 13.3 1110 0.3 8.6 319 2.0 17.3 24.8 498.7 5.0%
Dec 17, 2017 3.65 0.3 10.9 0.387 0.6 10.0 1015 0.5 7.9 302 1.7 16.4 20.4 498.2 4.1%
Dec 16, 2017 3.91 0.4 10.5 0.213 0.6 5.5 901 0.2 7.0 299 1.3 16.3 19.7 462.8 4.3%
Dec 15, 2017 3.77 0.6 11.3 0.233 0.2 6.0 943 0.2 7.3 281 2.6 15.3 25.3 451.6 5.6%
Dec 14, 2017 4.06 0.5 13.1 0.134 0.3 3.5 884 0.3 6.9 301 2.1 16.4 29.9 426.7 7.0%
Dec 13, 2017 4.72 0.7 11.9 0.134 0.1 3.5 925 0.3 7.2 315 3.4 17.1 25.9 436.3 5.9%
Dec 12, 2017 4.26 0.4 11.5 0.121 0.1 3.1 766 0.4 5.9 212 7.0 11.5 30.5 399.4 7.6%
Dec 11, 2017 4.14 0.6 12.9 0.109 0.0 2.8 689 0.2 5.3 148 2.9 8.0 18.8 361.1 5.2%
Dec 10, 2017 4.66 0.7 14.0 0.120 0.0 3.1 723 0.2 5.6 156 1.1 8.4 17.9 363.8 4.9%
Dec 9, 2017 5.05 0.9 11.5 0.115 0.1 3.0 728 0.2 5.6 127 2.4 6.9 20.8 381.9 5.5%
Dec 8, 2017 4.14 1.3 12.4 0.106 0.1 2.8 701 0.3 5.4 98 1.5 5.3 29.8 396.6 7.5%
Dec 7, 2017 4.47 2.1 10.6 0.118 0.1 3.1 700 0.2 5.4 100 0.6 5.4 24.7 337.2 7.3%
Dec 6, 2017 3.81 1.4 7.8 0.127 0.1 3.3 756 0.2 5.8 102 0.5 5.5 18.4 301.1 6.1%
Dec 5, 2017 2.80 1.1 5.3 0.136 0.1 3.5 775 0.2 6.0 104 0.3 5.6 11.0 297.4 3.7%
Dec 4, 2017 1.89 0.4 4.0 0.132 0.1 3.4 771 0.2 6.0 101 0.3 5.5 9.0 288.9 3.1%
Dec 3, 2017 1.44 0.1 3.9 0.132 0.0 3.4 779 0.2 6.0 100 0.4 5.4 9.9 282.7 3.5%
Dec 2, 2017 1.42 0.1 3.6 0.132 0.1 3.4 798 0.2 6.2 99 0.4 5.4 7.6 281.4 2.7%
Dec 1, 2017 1.31 0.2 3.5 0.117 0.1 3.0 787 0.3 6.1 88 0.6 4.8 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 news Date of event* Description Nature of impact Type of impact
1.                     Bitcoin Bounces Back Following 4pc Drop After New Futures Contracts Launched [source: Telegraph.co.uk] December 18, 2017 December 18, 2017 The promised launch of bitcoin futures has taken place. Market

BTC

Favorable,

ambiguous

 

2.                     Bitcoin Fees Have Become Infeasible [source: Bitcoin.com] December 18, 2017 December 18, 2017 Just 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, 2017 December 19, 2017 Emil 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, 2017 December 19, 2017 After 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, 2017 December 19, 2017 The 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, 2017 December 20, 2017 Charlie 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, 2017 December 21, 2017 A 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, 2017 December 21, 2017 The 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, 2017 December 22, 2017 A 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, 2017 December 23, 2017 Belarus 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)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD billion Market cap, USD billion
Dec 24, 2017 14 608.2 14 626.0 12 747.7 1 878.3 13 925.8 94.7% -5.3 13.95 11.6 244.8
Dec 23, 2017 13 948.7 15 603.2 13 828.8 1 774.4 14 699.2 106.3% 6.3 14.72 13.1 233.7
Dec 22, 2017 15 898.0 15 943.4 11 833.0 4 110.4 13 831.8 87.5% -12.5 13.85 22.2 266.4
Dec 21, 2017 16 642.4 17 567.7 15 342.7 2 225.0 15 802.9 95.1% -4.9 15.83 16.5 278.8
Dec 20, 2017 17 760.3 17 934.7 16 077.7 1 857.0 16 624.6 93.5% -6.5 16.65 22.1 297.5
Dec 19, 2017 19 118.3 19 177.8 17 275.4 1 902.4 17 776.7 93.0% -7.0 17.81 16.9 320.2
Dec 18, 2017 19 106.4 19 371.0 18 355.9 1 015.1 19 114.2 99.9% -0.1 19.15 14.8 320.0
Dec 17, 2017 19 475.8 20 089.0 18 974.1 1 114.9 19 140.8 98.2% -1.8 19.17 13.3 326.1
Dec 16, 2017 17 760.3 19 716.7 17 515.3 2 201.4 19 497.4 110.1% 10.1 19.53 12.7 297.4
Dec 15, 2017 16 601.3 18 154.1 16 601.3 1 552.8 17 706.9 106.9% 6.9 17.74 14.3 277.9
Dec 14, 2017 16 384.6 17 085.8 16 185.9 899.9 16 564.0 100.9% 0.9 16.59 13.8 274.3
Dec 13, 2017 17 500.0 17 653.1 16 039.7 1 613.4 16 408.2 94.2% -5.8 16.44 13.0 292.9
Dec 12, 2017 16 919.8 17 781.8 16 571.6 1 210.2 17 415.4 102.8% 2.8 17.44 14.6 283.2
Dec 11, 2017 15 427.4 17 513.9 15 404.8 2 109.1 16 936.8 109.6% 9.6 16.97 12.2 258.1
Dec 10, 2017 15 168.4 15 850.6 13 226.6 2 624.0 15 455.4 101.8% 1.8 15.48 13.4 253.8
Dec 9, 2017 16 523.3 16 783.0 13 674.9 3 108.1 15 178.2 91.6% -8.4 15.20 13.9 276.4
Dec 8, 2017 17 802.9 18 353.4 14 336.9 4 016.5 16 569.4 92.6% -7.4 16.60 21.1 297.8
Dec 7, 2017 14 266.1 17 899.7 14 057.3 3 842.4 17 899.7 125.2% 25.2 17.93 18.0 238.6
Dec 6, 2017 11 923.4 14 369.1 11 923.4 2 445.7 14 291.5 119.9% 19.9 14.32 12.7 199.4
Dec 5, 2017 11 685.7 12 032.0 11 604.6 427.4 11 916.7 102.2% 2.2 11.94 6.9 195.4
Dec 4, 2017 11 315.4 11 657.2 11 081.8 575.4 11 657.2 102.9% 2.9 11.68 6.1 189.2
Dec 3, 2017 11 082.7 11 858.7 10 862.0 996.7 11 323.2 102.2% 2.2 11.34 6.6 185.3
Dec 2, 2017 10 978.3 11 320.2 10 905.1 415.1 11 074.6 100.9% 0.9 11.09 5.1 183.5
Dec 1, 2017 10 198.6 11 046.7 9 694.7 1 352.1 10 975.6 107.3% 7.3 10.99 6.8 170.4

* 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)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD billion Market cap, USD billion
Dec 24, 2017 721.77 721.8 614.92 106.9 694.15 96.5% -3.5 84.96 2.3 69.7
Dec 23, 2017 681.32 763.9 679.73 84.2 719.39 106.6% 6.6 88.05 2.5 65.8
Dec 22, 2017 822.64 827.7 543.76 283.9 674.86 82.2% -17.8 82.60 5.0 79.4
Dec 21, 2017 820.24 880.5 792.69 87.8 821.06 100.2% 0.2 100.50 3.6 79.1
Dec 20, 2017 827.52 845.1 756.00 89.1 819.09 99.1% -0.9 100.26 4.0 79.8
Dec 19, 2017 793.90 881.9 785.34 96.6 826.82 104.0% 4.0 101.20 4.1 76.6
Dec 18, 2017 721.73 803.9 689.23 114.7 794.64 110.4% 10.4 97.26 3.2 69.6
Dec 17, 2017 696.24 735.8 696.24 39.6 719.98 103.4% 3.4 88.12 2.1 67.1
Dec 16, 2017 686.19 718.4 680.79 37.6 696.21 101.7% 1.7 85.22 2.2 66.1
Dec 15, 2017 696.38 697.1 621.06 76.1 684.45 98.4% -1.6 83.78 2.8 67.1
Dec 14, 2017 700.59 753.1 664.99 88.1 695.82 99.0% -1.0 85.17 3.8 67.5
Dec 13, 2017 644.91 748.0 597.80 150.2 702.77 107.9% 7.9 86.02 4.5 62.1
Dec 12, 2017 522.29 657.3 504.49 152.8 651.43 126.5% 26.5 79.73 5.2 50.3
Dec 11, 2017 440.36 517.0 439.10 77.9 515.14 116.6% 16.6 63.05 1.8 42.4
Dec 10, 2017 472.79 472.8 429.51 43.3 441.72 93.3% -6.7 54.07 1.4 45.5
Dec 9, 2017 457.34 504.2 456.25 47.9 473.50 103.8% 3.8 57.96 2.0 44.0
Dec 8, 2017 434.99 466.1 422.37 43.7 456.03 105.0% 5.0 55.82 2.3 41.8
Dec 7, 2017 426.37 441.4 414.41 27.0 434.41 101.4% 1.4 53.17 2.1 41.0
Dec 6, 2017 462.60 462.7 420.21 42.5 428.59 92.5% -7.5 52.46 2.0 44.5
Dec 5, 2017 470.29 473.6 457.66 15.9 463.28 98.5% -1.5 56.71 1.2 45.2
Dec 4, 2017 466.05 474.8 453.31 21.5 470.20 100.9% 0.9 57.55 1.0 44.8
Dec 3, 2017 463.70 482.8 451.85 31.0 465.85 100.5% 0.5 57.02 1.0 44.6
Dec 2, 2017 466.85 476.2 456.65 19.6 463.45 99.3% -0.7 56.73 0.9 44.9
Dec 1, 2017 445.21 472.6 428.31 44.3 466.54 104.3% 4.3 57.10 1.2 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)

Date Open, $ High, $ Low, $ Range, $ Close, $ DoD, % D, % Index, rate to start of year Volume (24h), USD billion Market cap, USD billion
Dec 24, 2017 3260.6 3260.6 2573.4 687.1 2903.1 89.1% -10.9 7.64 1.7 55.0
Dec 23, 2017 2747.0 3479.7 2684.8 794.9 3257.1 120.8% 20.8 8.57 2.8 46.3
Dec 22, 2017 3324.0 3369.6 1938.4 1431.2 2696.7 82.5% -17.5 7.10 3.9 56.1
Dec 21, 2017 3909.0 3909.0 3038.0 871.0 3267.2 83.3% -16.7 8.60 3.7 65.9
Dec 20, 2017 2825.0 4355.6 2825.0 1530.6 3923.1 139.8% 39.8 10.32 11.9 47.6
Dec 19, 2017 2199.1 2918.9 2160.9 758.0 2805.9 127.7% 27.7 7.38 3.9 37.1
Dec 18, 2017 1869.2 2353.6 1799.1 554.5 2196.6 117.9% 17.9 5.78 2.5 31.5
Dec 17, 2017 1812.3 1939.9 1806.7 133.3 1862.9 103.4% 3.4 4.90 1.0 30.6
Dec 16, 2017 1824.9 1890.1 1769.5 120.6 1801.9 99.3% -0.7 4.74 1.0 30.8
Dec 15, 2017 1974.7 1974.7 1678.1 296.6 1815.4 92.3% -7.7 4.78 1.5 33.3
Dec 14, 2017 1600.7 2080.4 1593.2 487.3 1966.1 122.3% 22.3 5.17 2.7 27.0
Dec 13, 2017 1617.0 1702.5 1497.9 204.6 1607.7 99.5% -0.5 4.23 1.2 27.2
Dec 12, 2017 1427.4 1638.3 1427.4 210.9 1615.0 113.5% 13.5 4.25 1.4 24.1
Dec 11, 2017 1320.0 1453.5 1316.9 136.6 1423.4 107.6% 7.6 3.75 0.9 22.2
Dec 10, 2017 1411.8 1411.8 1226.2 185.6 1323.1 93.8% -6.2 3.48 0.9 23.8
Dec 9, 2017 1464.6 1526.4 1353.9 172.5 1410.1 96.3% -3.7 3.71 1.1 24.7
Dec 8, 2017 1329.2 1731.3 1247.9 483.4 1464.1 110.0% 10.0 3.85 2.6 22.4
Dec 7, 2017 1430.7 1454.7 1323.8 131.0 1330.9 93.1% -6.9 3.50 1.3 24.1
Dec 6, 2017 1498.5 1530.7 1396.2 134.5 1430.1 95.2% -4.8 3.76 1.2 25.2
Dec 5, 2017 1580.2 1623.2 1498.0 125.2 1501.9 95.2% -4.8 3.95 1.0 26.6
Dec 4, 2017 1560.2 1580.1 1499.0 81.1 1576.9 101.1% 1.1 4.15 0.8 26.3
Dec 3, 2017 1435.4 1649.3 1420.6 228.7 1559.9 108.7% 8.7 4.10 1.5 24.2
Dec 2, 2017 1462.1 1502.4 1415.5 86.9 1435.0 98.1% -1.9 3.78 0.6 24.6
Dec 1, 2017 1381.8 1482.7 1300.5 182.2 1462.7 105.2% 5.2 3.85 1.0 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 news Date of event* Description Nature of impact Type of impact
1. Crypto to Take Center Stage at G20 [source: Bitcoin.com] December 18, 2017 n/a The 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, 2017 n/a The 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, 2017 n/a This 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 Figures Figure** Description
Total cryptocurrency market capitalization, USD million Fig. 1.1 This 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. 1.1 This 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. 1.2 This 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. 1.2 This 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 assets Fig.1.3 This 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 million Fig. 1.3 This 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 capitalization Fig. 1.4, 1.5 This 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

Indicator Description
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

Indicator September

2017

October

2017

November

2017

December 1-

10, 2017

December 11-

17, 2017

December 18-

24, 2017

Total amount of funds collected, USD million1 802.9 822.6 683.5 328.7 395.6 439.2
Number of companies that completed an ICO1 48 72 50 23 24 12
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 million 16.7 11.4 13.7 14.3 16.5 36.6
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)2 1.94x 1.89x 2.72x 3.80x 2.76 n/a
Weighted average current reward on funds (WACRF)3 1.83x 2.08x 2.76x 2.97x 2.76 n/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

Indicator Value
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, 2017 10

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

Month Collected, $ million Number of ICOs* Average collected, $ million
January 4.5 3 1.5
February 9.7 5 1.94
March 4.7 3 1.57
April 127.8 17 7.52
May 168.4 16 10.53
June 995.2 30 33.17
July 461.3 29 15.91
August 330.0 35 9.43
September 730.3 45 16.23
October 794.2 68 11.7
November 683.5 50 13.7
December 1-10, 2017 328.7 23 14.3
December 11-17, 2017 395.6 24 16.5
December 18-24, 2017 439.2 12 36.6
Total 5574.1 367 15.2

* 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, $ million Date
1 Hdac Infrastructure* 258 December 23, 2017
2 SingularityNet Gaming & VR* 36 December 22, 2017
3 Bread Payments* 32 December 19, 2017
4 Props Payments* 25 December 22, 2017
5 QLINK Infrastructure* 20.6 December 22, 2017
6 Selfkey Identity & Reputation* 15.8 December 20, 2017
7 AppCoins Infrastructure* 15.3 December 20, 2017
8 IndaHash Commerce & Advertising* 12.4 December 20, 2017
9 CommerceBlock Finance* 8.8 December 19, 2017
10 Aditus Commerce & Advertising* 7.1 December 20, 2017
Top 10 ICOs 431
  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 ICO Category** Collected, $ million Date Token performance
1 Hdac Infrastructure* 258 December 23, 2017 n/a
2 Tezos Infrastructure 232.3 June 13, 2017 n/a
3 EOS Infrastructure 185 July 1, 2017 8,87х
4 The DAO Infrastructure 168 May 28, 2016 n/a
5 Bancor Infrastructure 153 June 12, 2017 1,12x
6 Polkadot Infrastructure* 144.3 October 27, 2017 n/a
7 Kin Infrastructure 97 September 26, 2017 1,36x
8 Status Infrastructure 90 June 20, 2017 3,88x
9 Nebulas Infrastructure* 60 December 16, 2017 n/a
10 Blockstack Infrastructure* 52 December 1, 2017 n/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 ICO Category Collected, $ million Date Token performance
1 Wax Commerce & Advertising* 46.5 November 15, 2017 n/a
2 Basic Attention Token Commerce & Advertising 35.0 May 31, 2017 10.61x
3 Airtoken Commerce & Advertising 15.0 October 7, 2017 1.30x
4 Bodhi Commerce & Advertising* 14.7 November 22, 2017 2.82x
5 IndaHash Commerce & Advertising* 12.4 December 20, 2017 n/a
6 AdEx Commerce & Advertising 11.4 June 30, 2017 9.99x
7 Spankchain Commerce & Advertising* 7.2 November 13, 2017 6.10x
8 Aditus Commerce & Advertising* 7.1 December 20, 2017 n/a
9 Soma Commerce & Advertising* 6 November 15, 2017 n/a
10 Zap Store Commerce & Advertising* 2.8 November 20, 2017 n/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 ICO Category Collected, $ million Date Token performance
1 MobileGO Gaming & VR 53.1 May 24, 2017 1.21x
2 DreamTeam Gaming & VR* 45 December 15, 2017 n/a
3 SingularityNet Gaming & VR* 36 December 22, 2017 n/a
4 Decentraland Gaming & VR 26.2 August 17, 2017 2.98x
5 DMarket Gaming & VR 19 August 21, 2017 n/a
6 Enjin Pre-Sale Gaming & VR 10.8 September 18, 2017 5.08x
7 Playkey Gaming & VR 10.5 December 1, 2017 n/a
8 GameCoin Gaming & VR 8.9 September 29, 2017 n/a
9 NEVERDIE & TELEPORT Gaming & VR 6.1 August 31, 2017 n/a
10 FirstBlood Gaming & VR 5.5 September 25, 2016 13.77x

* 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 ICO Category Collected, $ million Date Token performance
1 TenX Payments 64.0 June 24, 2017 6.71x
2 Monetha Payments 36.6 August 31, 2017 1.09x
3 Request Network Payments 33.3 October 16, 2017 4.51x
4 Bread Payments* 32 December 19, 2017 n/a
5 DomRaider Payments 31.0 October 11, 2017 0.37x
6 Monaco Payments 26.6 June 18, 2017 6.96x
7 Props Payments* 25 December 22, 2017 n/a
8 OmiseGo Payments 25.0 July 5, 2017 45.76x
9 UTRUST Payments 21.0 November 20, 2017 n/a
10 Centra Tech Payments 18.5 August 25, 2017 3.11x

* 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 ICO Category Collected, $ million Date Token performance
1 Civic Identity & Reputation 33 June 22, 2017 12.42x
2 Selfkey Identity & Reputation* 15.8 December 20, 2017 n/a
3 Revain Identity & Reputation 9.4 September 4, 2017 10.57x
4 Metaverse Identity & Reputation 2 September 8, 2016 n/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 1 Glossary

Key terms Definition
Initial coin offering, ICO A 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 capitalization Value 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: http://ift.tt/WJGOSh].
Cryptocurrency market capitalization Aggregate market value of cryptocurrencies circulating on the market.
Total cryptocurrency market capitalization Cryptocurrency and digital asset market capitalization, i.e. the aggregate market value of all cryptocurrencies and digital assets circulating on the market.
Token reward Token performance (current token price / token sale price during the ICO), i.e. the reward per $1 spent on buying tokens.
Dominance Market 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-mined A 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 assets Number 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 capitalization Average market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number.
Token return Performance 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 sale Alternative 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 sale Similar 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 reward This 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 reward This 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 index The 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.

 

The post Weekly Cryptocurrency and ICO Market Analysis [December 18-24, 2017] appeared first on CoinSpeaker.



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