Weekly ICO and cryptocurrency market analysis from 25.06 to 01.07.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 25.06 to 01.07.2018

02.07.2018

Weekly ICO and cryptocurrency market analysis from  25.06 to 01.07.2018

The crypto market was drifting sideways in the period from June 25 to July 1 and its minimum capitalization value of $ 232.63bn was shown on June 29. After that, the market recovered slightly, and buyers were stronger by the end of the week. The total market capitalization increased by $ 7bn (2.8%) from $ 250.55 to $ 257.55bn.

One of the most important news of the week was the so-called ‘Alert System’ in the Bitcoin network. Satoshi Nakamoto, the creator of Bitcoin, could send notifications to network members about system vulnerabilities, unexpected forks, etc., using this key. Many people did not even hear about this system, since it was abolished in 2016, as part of the Bitcoin Core 0.13.10 release, as it posed a threat to the security of the network and developers. It is still unknown to whom exactly Nakamoto left the ‘Alert System’ - there is information that Brian Bishop and Gavin Andresen - Bitcoin Core developers, as well as the owner of the Bitcointalk Theymos can have it. Brian Bishop said he plans to open a private key in early July at the Building on Bitcoin conference in Lisbon. Disclosure of the key is a danger for many Altcoins - Bitcoin clones that use outdated versions of the first cryptocurrency code. If Bitcoin copies did not turn off the notification system, did not change passwords, or did not even know about the existence of such function, then the disclosure of the private key can lead to unpredictable consequences in the blockchains copied from Bitcoin.

The Tether cryptocurrency, which is allegedly backed by the US dollar in the 1:1 ratio, released 250M new tokens this week, according to Omni Explorer. We remind you that an investigation of manipulation with Tether, conducted by John Griffin and Amin Shams, professors of the University of Texas, was published just a week earlier and stated that market makers used Tether tokens for artificial pumps of bitcoin prices in 2017. The project management immediately published a statement denying responsibility and involvement in these events and continued the production of new coins. But the epic continues: the Chinese company SlowMist, specializing in the search for vulnerabilities in the blockchain environment, reported this week that it found an error that allows users to double-convert USDT without actual withdrawal of funds. Because of the risk of a re-write-off attack, SlowMist recommended crypto exchanges to suspend operations with USDT tokens and make sure there is no vulnerability on their platforms.

Popular in the US crypto exchange Coinbase has been severely criticized by its users this week because of the lack of preparedness to serve a large number of customers. More than 130 lawsuits have been filed in cooperation  with the SEC in total. This is not the first time that Coinbase has been criticized by its users. Traders accused the platform of insider trading in December after the unsuccessful launch of Bitcoin Cash on the GDAX exchange. And in March, Coinbase was sued for violating California's Unclaimed Property Law, as well as for illegal business practices. But news about the exchange does not end - Bryan Armstrong, the founder of Coinbase, announced the launch of a new crypto charitable platform this week – Givecrypto.org. The fund already has $ 3.5M, $ 1M of which he invested personally, according to Armstrong.

The subsidiary company Alibaba Ant Financial, formerly known as AliPay, conducted the first cross-border money transfers using blockchain technology. The company completed the transfer of funds between its AliPayHK application in Hong Kong and the Philippine payment application GCash, a joint project with the local telecommunications company Globe Telecom.

Two vice-presidents of the Japanese center for self-regulation of cryptocurrencies resigned after their exchanges received warnings from the FSA of Japan. Just one week after the Japanese Virtual Currency Exchanges Association (JVCEA) prepared its first industry practice recommendations, Yuzo Kano and Noriyki Hiroyuki, CEO of bitFlyer and Bitbank respectively, said they are leaving their seats. A total of six exchanges will now have to change practices to meet new requirements, mainly on the rules for combating money laundering and improving the KYC systems.

All crypto enthusiasts were pleased with the following news: Starting from June 26, Facebook intends to update the policy that previously prohibited any advertising of cryptocurrencies. Now the company will allow advertisements aimed at promoting cryptocurrencies and related content to advertisers who passed the preliminary inspection. Facebook views cryptocurrencies as regulated securities, so the social network will allow their advertising, but it will retain the ban on advertising ICO and binary options, according to Rob Leathern, the company's Director of Product Management.

The Bitcoin price has been drifting sideways for a week, testing half-year lows. The minimum price for the week registered on June 29 and was $ 5838. The price recovered slightly after the close of CME futures by the end of the week, and on July 1 it was $ 6328. Bitcoin's price has increased by 3.3% by the end of the week.



*Provided by coinmarketcap.com


Bitcoin's market capitalization has also increased by 3.4% from $ 104.736bn as of 25.06 to $ 108.372bn as of 01.07. The minimum value of Bitcoin's capitalization for the week was $ 99.970bn as of 29.06.

The total of the Altcoins capitalization has increased slightly from $ 144.220bn to $ 145.710bn (1.03%), not repeating the faster dynamics of changes in Bitcoin's capitalization.



*Provided by coinmarketcap.com

The Bitcoin dominance index has increased by 1.33% from 41.44% to 42.77% due to a faster recovery in Bitcoin's capitalization compared to majority of altcoins.




*Provided by coinmarketcap.com


The DRI index (market capitalization index, cleared of "dead" and non-traded coins) has increased by 0,8%: from $224bn to $226bn.



*Provided by DRI DigRate


SelfKey, Populous and Power Ledger became gainers of the week, the prices of their tokens have increased by 386%, 60% and 52% respectively. Dragonchain, BnkToTheFuture and Lympo are losers of the week.


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


Token name

Ticker

Volume (24h)

Price (01.07.18)

7d growth %

SelfKey

KEY

$230 551 000

$0,032481

386.30%

Populous

PPT

$11 850 400

$8,26

60.38%

Power Ledger

POWR

$56 062 700

$0,291204

52.32%

Octoin Coin

OCC

$1 290 130

$0,422184

51.88%

ZIP

ZIP

$31 199 800

$0,005853

50.29%


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

Token name

Ticker

Volume (24h)

Price (01.07.18)

7d fall %

Dragonchain

DRGN

$1 491 380

$0,244063

−28.10%

BnkToTheFuture

BFT

$1 438 100

$0,095421

−27.28%

Lympo

LYM

$2 200 490

$0,035556

−21.46%

UnlimitedIP

UIP

$1 177 180

$0,015054

−19.15%

QuarkChain

QKC

$5 459 950

$0,076849

−19.09%


28 ICOs were completed during this week, 12 projects of which were able to collect the softcap.


The total amount of raised funds was $ 201,2M, which 3,2 times more than the previous week. More than half of all the collected funds belong to the infrastructure project t0. The number of completed ICOs has also increased by more than 2 times: from 13 to 28 per week.


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

Index

18.06-24.06

25.06-01.07

Total ICOs / $ million

13 /62,1

28 /201,2

Active / $ million

8 /62,1

12 /201,2

Failed / $ million

5 / -

16 / -

Dead / $ million

0 / 0

0 / 0



Gainers of the week:


Project name

Ticker

Raised, $ million

t0

TZERO

114,6

Cardstack

CARD

35

DAV Network

DAV

22

Raised in total


171,6



Scam of the week


Bitkoex — information leakage at the Bitcoex exchange has jeopardized $ 620,000 of users funds. According to CoinDesk Korea, employees of the South Korean exchange launched in May, published in social networks information about how many Karma (KRM) is available for 19 users of the platform. The report says that the leaked information contained users email addresses, as well as wallet addresses and private keys to the KRM token accounts, which allows anyone who has this information to access the user's assets.



Announcement of ICO projects from 02.07 to 08.07.2018


Analysts of the rating agency for the evaluation of digital assets Digital Rating Agency selected the 5 most attractive projects from July 2 to July 8, 2018.


1. Talao, ICO starts 02.07.2018. Category: Recruitment. No DigRate score.


Talao is a decentralized platform for freelancers, which provides companies with the conditions for attracting the best specialists in the main industrial and tech sectors. Highly qualified specialists will be able to confirm their experience and manage their reputation within Talao.


2. GlobeCas, pre-ICO starts 03.07.2018. Category: Casino and Gambling. No DigRate score.


GlobeCas is an entertainment platform that offers solutions to simplify the process of creating a casino, allowing gaming establishments to go online and minimize costs. The platform will unite real casinos around the world and allow participants to visit them and play online from anywhere.


3. 0xcert Protocol, сICO starts 04.07.2018. Category: Asset Management. No DigRate score.


0xcert Protocol is an open blockchain protocol that allows users to create decentralized applications that authenticate and manage real and digital assets. It also will be possible to register any assets (from tokens to real estate), with confirmation of their authenticity and ownership without the participation of a third party.


4. Zeex, pre-ICO starts 05.07.2018. Category: Retail. No DigRate score.


Zeex is a blockchain platform that gives users the opportunity to anonymously buy goods and services through smart contracts in all the largest shopping centers around the world without the use of fiat. You can buy gift certificates that give you the right to purchase goods and services using ZIX tokens, without commissions when exchanging cryptocurrency for fiat.


5. Moonlight, ICO starts 08.07.2018. Category: Recruitment. No DigRate score.


Moonlight is a recruiting platform on the NEO for hiring professionals in the field of blockchain development. The platform will have a built-in algorithm for matching candidates based on their skills and a set of professional qualities. These skills and experience will be fixed in the blockchain and present a reliable CV of the specialist.