Weekly ICO and cryptocurrency market analysis from 02.07 to 08.07.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 02.07 to 08.07.2018

11.07.2018

Weekly ICO and cryptocurrency market analysis from 02.07 to 08.07.2018

The cryptocurrency market was drifting sideways with a slight upward trend in the period from July 2 to July 8, and the total market capitalization increased by $ 24.7bn by the end of the week: from $ 256.097 to $ 280.836. In percentage terms growth was 9.6%.

The authorities of the Philippines revised the rules for crypto regulation this week. The regulator plans to limit the number of licenses for the activity of crypto exchanges to 25, and also oblige the exchanges to invest at least $ 1M within two years. The authorities received about 60 applications from crypto exchanges now, according to available information.

The Securities and Exchange Commission of Thailand announced the creation of a new regulatory framework for the ICO this week, which will come into force on July 16. According to the new principles, the issuers of the ICO are instructed to register a company with a minimum authorized capital of 5M baht (about $ 150,000). Issuers are allowed to receive payments only in seven cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Ethereum Classic, Litecoin and Stellar, as well as in local currency.

The National Institute of Transforming India (NITI), the main political body of the Indian government, concluded a partnership agreement with Gujarat Narmada Valley Fertilizers & Chemicals Limited, a major fertilizer producer, to develop a blockchain solution to manage agricultural subsidies.

The Kraken exchange responded to a recent article by Bloomberg alleging that Tether (USDT) is manipulating prices on their exchange. The management of the exchange hinted that the article was written in order to influence the price of BTC futures. In their opinion, it was Bloomberg, not Kraken, who was manipulating it, since the article was published on June 29, on that exact day the trading of CME futures for Bitcoin ended. The reports also noted that the Kraken USDT / USD market is less than 0.1% of the global volume of the token, which makes the fact of the influence of the trading pair on the cost of the Tether extremely unlikely.

The US Internal Revenue Service (IRS) launched an international task force to investigate crimes using cryptocurrency. The new coalition, called "J5", includes federal agencies from five countries: Australia, Canada, the Netherlands, the United Kingdom and the United States. The agencies will cooperate in intelligence and criminal investigations to reduce the growing threat to tax administrations created by cryptocurrencies and cybercrime and to prevent transnational tax crime and money laundering.

The government of South Korea, known for its ambiguous attitude to the cryptocurrency, officially recognized the crypto exchanges as regulated financial institutions and banks. Local publications reported that financial regulators finally made a clear statement of the definition of the cryptocurrency exchange ("Cryptocurrency Exchange and Brokerage") to allow trading platforms to work with the support of local authorities. Local analysts said that the government's decision would lead to an increase in the number of large investors. South Korean authorities will also change the existing rules to facilitate the development of decentralized apps and blockchain, such as Ethereum and EOS.

Bitcoin price was trading in the $ 6,500 - $ 6,700 corridor, but at the end of the week it broke its upper limit and ammonted $ 6,882 as of July 8. The minimum price for this week, registered on 02.07, was $ 6367. Thus, Bitcoin price increased by 8.08% this week.



*Provided by coinmarketcap.com


Bitcoin's market capitalization increased by 7,59% from its minimum value of $ 109,581bn as of 02.07 to $ 117,90bn as of 08.07.

The total altcoins capitalization increased from $ 147,618bn to $ 162,696bn (10,21%), overtaking the growth dynamics of Bitcoin's capitalization by 2.6%.



*Provided by coinmarketcap.com


Bitcoin dominance index increased slightly by 0,94% from 41,33% to 42,27%.



*Provided by coinmarketcap.com


The DRI index (market capitalization index, cleared of "dead" and non-traded coins) increased by 1,26%: from $237bn to $240bn.



*Provided by DRI DigRate


GoChain, Metaverse ETP and SRCOIN are gainers of the week, prices of their tokens increased by 219%, 124% and 11% 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 (08.07.18)

7d growth %

GoChain

GO

$7 080 650

$0,094026

219.34%

Metaverse ETP

ETP

$6 957 140

$1,24

124.52%

SRCOIN

SRCOIN

$1 873 840

$0,001755

111.81%

DAEX

DAX

$14 834 500

$0,127293

86.13%

DigiByte

DGB

$18 003 100

$0,043735

70.65%



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


Token name

Ticker

Volume (24h)

Price (08.07.18)

7d fall %

Tezos

XTZ

$9 539 130

$2,19

−44.28%

ZIP

ZIP

$10 419 800

$0,004775

−36.61%

EJOY

EJOY

$3 056 390

$0,002391

−28.46%

WaykiChain

WICC

$4 151 630

$0,467158

−21.19%

Penta

PNT

$8 496 440

$0,005718

−20.65%


11 ICOs were completed during this week, 5 projects of which were able to collect the softcap.

The total amount of raised funds was $ 38,5M, which 5,2 times less than the previous week. More than half of all the collected funds belong to the VirUs project solving marketing and legal problems of the ICO and the teams developing their own investment proposals. The number of completed ICOs also decreased by almost 3 times: from 28 to 11 per week.


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

Index

25.06-01.07

02.07-08.07

Total ICOs / $ million

28 /201,2

11 /38,5

Active / $ million

12 /201,2

6 /38,5

Failed / $ million

16 / -

5 / -

Dead / $ million

0 / 0

0 / 0



Gainers of the week:

Project name

Ticker

Raised, $ million

VirUs

VIS

20

Elysian

ELY

7

Bitscreener

BITX

6,7

Raised in total


33,7



Scam of the week


Trezor — the Trezor hardware wallet team issued a warning that criminals attempted to access wallets using a phishing attack. Some users of this service who wanted to visit the wallet website (wallet.trezor.io) were redirected to a fake TrezorWallet site. It confused users with a fake security message and suggested entering data for the recovery procedure.



Announcement of ICO projects from 09.07 to 15.07.2018


Analysts of the rating agency for the evaluation of digital assets Digital Rating Agency selected the 5 most attractive projects from July 9 to July 15, 2018.


1. Yumerium, ICO starts 11.07.2018. Category: Games and VR. No DigRate score.


Yumerium is a decentralized platform for gamers that gives users the opportunity to share their gaming experiences, forming a semblance of a viral marketing system, and getting paid for providing game content. Game developers will reward those who use their product, watch a video or share game reviews on social networks.


2. Plentix, pre-ICO starts 11.07.2018. Category: Advertising and Marketing. No DigRate score.


The goal of the Plentix project is to increase the efficiency of referral marketing for companies and increase rewards for customers referring to products or services of companies. The platform will be also useful to developers who can use the Plentix API sets to write their own programs and apps. When these applications are integrated into the Plentix software, the developer is rewarded.


3. EtherInc, ICO starts 15.07.2018. Category: Infrastructure. No DigRate score.


EtherInc is an Ethereum fork and a platform with the built-in Turing programming language, which allows each user to create smart contracts and decentralized apps. The goal of EtherInc is to create an alternative protocol for launching decentralized organizations and creating decentralized apps with an emphasis on speed of implementation, security and increased efficiency of interaction in the system.


4. Noiz, ICO starts 15.07.2018. Category: Advertising and Marketing. No DigRate score.


Noiz is a decentralized network for the exchange of cognitive advertising using AI technology that unites advertisers, publishers and ordinary consumers. The platform gives customers the opportunity to obtain transparent and reliable data, providing an optimized user experience and expanding the capabilities of social campaigns.


5. WPP, pre-ICOstarts 15.07.2018. Category: Power. No DigRate score.


The WPP Energy platform is created to reduce the cost of "green" energy in much of the world by collecting data on the generation of electricity from wholesale producers of renewable energy. The team already has signed contracts with a number of countries at the federal level to produce energy from domestic waste for a 35-year period. The project plans also include the creation of green villages and cities, where up to 200,000 people can be accommodated.