Weekly ICO and cryptocurrency market analysis from 28.05 to 03.06.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 28.05 to 03.06.2018

06.06.2018

Weekly ICO and cryptocurrency market analysis from 28.05 to 03.06.2018

The cryptocurrency market has been showing signs of a little recovery during the week from May 28 to June 3, 2018, while the total capitalization of the market has increased from $ 303bn to $ 346bn.


News from the regulators of South Korea, Thailand, Taiwan, the Philippines, Japan and Portugal are among the most positive news affected the market recovery. For example, the development of ICO legislation has began in South Korea, and such activities were completely banned eight months earlier. Thai tax authorities rejected previously imposed VAT on individual holders of cryptocurrency. Five regional banks at the same time are launching a pilot project of a blockchain retail payment systems in the Philippines.


Two more positive news from large corporations: Rothschild, with a 200-year history of investment banking, is creating its own blockchain platform with IMMO cryptocurrency. Gazprom Neft PJSC and Gazpromneft.Supply LTD have implemented blockchain technologies in the logistics system with the participation of the BI_Platform team.


Negative impact on the market was made by the Financial Conduct Authority of Great Britain (FCA), which reported on 24 investigations against cryptocurrency companies.


After last week’s drop and testing the strength of the price level at $ 7,000, the Bitcoin price shows a slight increase from $ 7,090 on May 29 to $ 7,750 on June 3 (up 9.3%).


Nexty, IoTeX and Storiqa became gainers of the week, the prices of their tokens have increased by 232%, 104% and 93% respectively. Dragon Coins, MediBloc and Bodhi are among losers of the week.


Bitcoin’s market capitalization has been showing signs of a modest recovery since Tuesday, increasing its value of $ 121.309bn as of May 29 to $ 132.008bn on June 3. In percentage terms, capitalization has increased by 8.8%.



*Provided by coinmarketcap.com

The total altcoins capitalization (excluding Bitcoin) has also increased from $ 181.992bn to $ 221.837bn (an increase of 21.8%), recovering faster than Bitcoin's capitalization by 13%. This trend says that many altcoins are generally more sensitive to changing market conditions.



*Provided by coinmarketcap.com


The Bitcoin’s dominance index has decreased by 2.66% due to a more dynamic recovery of the top 20 currencies.



*Provided by coinmarketcap.com


After last week’s drop and testing the strength of the price level at $ 7,000, the Bitcoin’s price has been showing a slight increase of 9.3% from $ 7,090 as of May 29 to $ 7,750 as of June 3.




*Provided by DRI DigRate

The consolidated index of DRI (market capitalization index, cleared of "dead" and non-traded coins) for the week increased by 8.02%: from $ 282.16 billion to $ 304.79 billion.


Тоp 5  gainers (cryptocurrencies with an average daily turnover of at least $ 1 million):


Token name

Ticker

Volume (24h)

Price (03.06.18)

7d growth%

Growth causes

Nexty

NTY

$1 932 700

$0,000722

232.99%

Not found

IoTeX

IOTX

$20 594 300

$0,055680

104.12%

Listing on Binance

Storiqa

STQ

$11 809 100

$0,010944

93.02%

Launch of MVP beta, listing on Indonesia Digital Asset Exchange

APIS

APIS

$3 869 890

$0,012494

76.82%

Listing on Bit-Z

Qbao

QBT

$5 592 050

$0,505257

67.00%

Launch of QbaoNetwork beta 3.2



Тоp 5 losers
(cryptocurrencies with an average daily turnover of at least $ 1 million):

Token name

Ticker

Volume (24h)

Price (03.06.18)

7d fall %

Fall causes

Dragon Coins

DRG

$1 105 580

$0,329270

−51.79%

Not found

MediBloc

MED

$2 107 860

$0,015575

−36.98%

Switch to its own blockchain

Bodhi

BOT

$5 273 600

$0,824483

−33.78%

Not found

NPER

NPER

$1 436 300

$0,151211

−32.54%

Not found

EduCoin

EDU

$4 432 710

$0,003013

−23.94%

Not found



69 ICO were finished during the week, only 31 of which managed to collect softcap. There were no projects in Dead сategory: these are projects that do not have a running website, or projects whose leaders were prosecuted or are now under investigation on fraudulent activities.

The total amount of raised funds for the period from May 28 to June 3 was $ 370M. This impressive amount was raised mainly by the EOS project, ICO of which ended on June 1. The project has attracted $ 4bn during the year-long ICO. For more accurate result, the EOS’s ICO was divided into 12 stages, and the raised funds were distributed over the months in $ 333.3M per month ($ 83.3M per week ). The remaining projects have managed to attract $ 286.7M in the week from May 28 to June 3, which is 4.7 times higher than the amount collected by the projects over the previous week. The number of completed ICOs has increased almost 3.5 times: from 20 to 69 per week.


The number of ICOs and collected funds for the current and past week of 2018:

Index

21.05-27.05

  28.05-03.06

Total ICOs / $ million

20 / 61,2

69 / 370

Active / $ million

10 / 61,2

31 /370

Failed / $ million

10 / -

38 / -

Dead / $ million

0 / 0

0 / 0



Gainers of the week (excluding EOS):

Project name

Ticker

Raised, $ million

DCC

DCC

49

Bezant

BZNT

27,5

PCHAIN

PCH

26,6

Raised in total


103,1



Scam of the week


Titanium — the SEC received a judicial authorization to freeze the accounts of Titanium Blockchain Infrastructure Services Inc., which managed to raise $ 21M during the ICO. Company’s President Mike Alan Stolleri is accused of false allegations of partnership with the Fed, PayPal, Verizon, Boeing, Disney and a number of other well-known firms.



Top 5 projects from 04.06 to 10.06.2018


Analysts of the rating agency for the evaluation of digital assets DigRate selected  the 5 most promising ICOs of the week from June 4 to June 10, 2018.


1. Essentia, ICO starts 07.06.2018. Category: Infrastructure. No DigRate score.


Essentia is a set of multichain protocols, which is a modular structure that will allow users to manage their digital data, providing complete confidentiality and quality control over all processes. The project is already integrated into such major networks as Bitcoin, Ethereum, Gnosis, Storj, Aragon and KyberNetwork.


2. Etherinc, Pre-ICO starts 07.06.2018. Category: Infrastructure. No DigRate score.


The goal of the Etherinc project is to create an alternative to Ethereum for launching decentralized autonomous organizations (DAOs) and creating decentralized apps. EtherInc offers users a blockchain platform with the built-in Turing programming language, which will allow everyone to create their own smart contracts and decentralized apps.


3. TraceTo, ICO starts 08.06.2018. Category: Verification. No DigRate score.


TraceTo is a decentralized platform that provides companies with a comprehensive KYC solution based on the use of smart contracts and AI. The main difference from already working competitors (Civic, Selfkey and uPort) will be the TraceTo verification of funds source and verification of users’ welfare.


4. Lightstreams, ICO starts 10.06.2018. Category: Infrastructure. No DigRate score.


The Lightstreams project focuses on solving the problems of the privacy and scalability of decentralized applications (dApps). The platform is built using a modified version of the Ethereum blockchain and remains compatible with the existing ecosystem of Ethereum tools and libraries.


5. Qurrex, ICO starts 10.06.2018. Category: Trading and investment. No DigRate score.


Qurrex is a hybrid exchange platform that combines the infrastructure of traditional exchanges with a decentralized network. The Qurrex ecosystem in addition to the traditional trading terminal will include an educational portal, a database of all traded currencies, a forum for traders and an internal messenger. Traders who have their trading account in the Qurrex rating will also be able to rely on revenue from trading signals.