Weekly ICO and cryptocurrency market analysis from 11.06 to 17.06.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 11.06 to 17.06.2018

18.06.2018

Weekly ICO and cryptocurrency market analysis from 11.06 to 17.06.2018

The crypto market continues to test new lows after a major drop on June 10. The total market capitalization has decreased by $ 22.7bn (7.5%) from $ 302,859bn to $ 280,047bn.

The leading news story of this week was an investigation of manipulations with Tether cryptocurrency conducted by John Griffin and Amin Shams, professors of the University of Texas. Market makers used Tether tokens for artificial bitcoin price pumps in 2017. The professors cite the dynamics of the Bitcoin price in the last few months to prove their point. This year’s sharp changes in the price almost coincide with the release of USDT coins. So firstly, there is a release of a new unbacked by dollar Tether coins to support the Bitcoin price, and then the cryptocurrency is for a new replenishment of the company's dollar reserve. Previously, Tether was repeatedly blamed for non-transparent emission of new tokens. The company got on the radar of the CFTC in last December. The regulator intends to open an investigation into USDT's linkage to manipulation at the Bitfinex.

Experts continue to reassure everyone despite the background of a protracted market decline. For example, Tom Lee, the head of Fundstrat, is still confident that bitcoin will overcome the $ 25,000 mark by the end of this year. And Mike Novogratz, leading trader of Goldman Sachs and Fortress, during the New York Bloomberg Invest summit said that the crypto market was moving to the level of 20 trillion dollars.

Another reason to be positive was the message from the Indian regulator: The Reserve Bank of India said that digital currencies would be available inside the country, but subject to new regulation rules. We remind that the regulator prohibited banks from interacting with any cryptocurrencies just two months ago, resulted in a flurry of Internet petitions against RBI. The petition got on the radar of the Indian Supreme Court, after which several lawsuits were filed against the regulator.

There is positive news from two largest Russian banks - Sberbank and Alfa-Bank. They will test the private banking service for investors wishing to work with cryptocurrencies on the regulatory platform of the Central Bank. The minimum entry threshold is $ 500,000.

And finally, some news from capitalization leaders: Litecoin showed its annual minimum, losing the fifth place to the EOS project. 74% decline was recorded since the record level of the Litecoin’s exchange rate of $379 as of December 19. And the price of LTC has fallen by almost 60% since the beginning of this year. The decline has began when Charlie Lee, the founder of the token, told about the sale of all his Litecoins on Reddit.

Bitcoin fall formed a tangible funnel, which dragged all leading cryptocurrencies. Bitcoin price was in a sideways trend after a major fall on June 10. It has been trading between $ 6300 and $ 6900. Bitcoin fell by 4.5% from $ 6,870 as of June 10 to $ 6,555 as of June 17.



*Provided by coinmarketcap.com


Bitcoin market capitalization has lost $5,3bn, from $117,383bn as of June 11 to $112,098bn as of June 17. In percentage terms, the fall was 4,2%.

The total altcoins capitalization (excluding Bitcoin) has also decreased from $185,79bn to $168,456bn (9,3%), falling faster than Bitcoin's capitalization by more than two times.



*Provided by coinmarketcap.com


Bitcoin dominance index has slightly increased within 1%.




*Provided by coinmarketcap.com


Bitcoin price was in a sideways trend after a major fall on June 10. It has been trading between $ 6300 and $ 6900. Bitcoin fell by 4.5% from $ 6,870 as of June 10 to $ 6,555 as of June 17.



*Provided by DRI DigRate


The DRI index (market capitalization index, cleared of "dead" and non-traded coins) has decreased by 8,9%: from $266,23bn to $242,39bn.

PundiX, Docademic and LatiumX became gainers of the week, the prices of their tokens have increased by 95%, 78% and 42% respectively. Skycoin, Delphy and WaykiChain are losers of the week.


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



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


Token name

Ticker

Volume (24h)

Price (17.06.18)

7d fall %

Skycoin

SKY

$3 289 820

$9,95

−40.06%

Delphy

DPY

$1 375 510

$0,920780

−39.38%

WaykiChain

WICC

$0 125 100

$0,819866

−51.78%

United Bitcoin

UBTC

$1 123 950

$6,69

−37.53%

Qbao

QBT

$3 057 040

$0,295214

−34.93%


17 ICOs were completed during this week, only 5 projects of which were able to collect the softcap. There were no projects in Dead сategory: these are projects with no running website, or projects whose leaders were prosecuted or are now under investigation on fraudulent activities.


The total amount of raised funds was $ 56,2M, which is 2.5 times less than the previous week. Such significant difference is due to a drop in the price of Ethereum, which is the main currency for ICOs. The number of completed ICOs has also decreased by 6 projects: from 23 to 17 per week.



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

Index

04.06-10.06

11.06-17.06

Total ICOs / $ million

23 / 144,7

17 / 56,2

Active / $ million

12 /144,7

5 /56,2

Failed / $ million

11 / -

12 / -

Dead / $ million

0 / 0

0 / 0



Gainers of the week:

Project name

Ticker

Raised, $ million

Alchemint

SDT

30

Rightmesh

MESH

18

Ternio

TERN

3

Raised in total


51




Scam of the week


Syscoin — the developers of Syscoin cryptocurrency reported that the account of one of the token creators was hacked. Hackers exploited the vulnerability and downloaded the virus to Github. The Syscoin team warned that users who downloaded the 3.0.4.1 client installer for Windows from June 9 to June 13 may be victims of the attack.



Announcement of ICO projects from 18.06 to 24.06.2018


Analysts of the rating agency for the evaluation of digital assets Digital Rating Agency selected the 5 most attractive projects from June 18 to June 24, 2018.


1. Metronome, ICO starts 18.06.2018. Category: Cryptocurrency. DigRate score — 5.0/7.0.


The Metronome project develops a cross-platform MTN token, the main feature of which is the ability to export / import to various blockchain systems. The strengths of MTN in comparison with the main cryptocurrencies (BTC, ETH, LTC, XRP, ZEC) are the increased transaction velocity, the ability to pay on subscription and select a blockchain network.


2. Nuggets, ICO starts 18.06.2018. Category: Verification. DigRate score — 4.4/7.0.


Nuggets is a passwordless payment system, where users can perform transactions based on verification of their biometric data. Verification will consist of 4 stages: a user's photo, his biometric data, a payment card and documents. After that, users will be able to make confidential transactions within the Nuggets application in one click.


3. Airbloc Protocol, ICO starts 19.06.2018. Category: Commerce - Advertising. No DigRate score.


Airbloc is a decentralized platform for storing, analyzing and managing personal data, where users can monetize their data, and advertisers will be able to buy it for targeted marketing campaigns using effective micro-targeting.


4. UChain, Pre-ICO starts 20.06.2018. Category: Infrastructure. No DigRate score.


UChain is a blockchain platform that facilitates the development of DApps. The platform will use the proprietary system of credit ratings and is aimed at the development of decentralized exchange.


5. Carry Protocol, Pre-ICO starts 24.06.2018. Category: Retail. No DigRate score.


Carry Protocol is a platform that unites sellers and consumers into one ecosystem in off-line mode. Using Carry Protocol, sellers will be able to create their own tokens, working as loyalty points. Consumers can also earn these points by simply providing their phone number or other useful information about themselves when making a purchase.