Weekly ICO and cryptocurrency market analysis from 16.07 to 22.07.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 16.07 to 22.07.2018

24.07.2018

Weekly ICO and cryptocurrency market analysis from 16.07 to 22.07.2018

The crypto market showed signs of recovery during the period from July 16 to July 22, and the total market capitalization increased by $ 30bn by the end of the week: from $ 255,456bn to $ 285,469bn. In percentage terms, growth was 11.7%.

The world's largest exchange fund (ETF) BlackRock, which manages $ 6.3T, indicated its interest in cryptocurrencies this week. Larry Fink, CEO of BlackRock, criticized Bitcoin and called it "money laundering index” just six months ago. Now the press secretary of BlackRock said that the company plans to integrate blockchain technology within several years. This news could give an impulse for the stong growth of Bitcoin's price this week. Another important factor for the market growth was the appointment of the crypto enthusiast David Solomon to the position of President of Goldman Sachs. This was another sign of the strengthening of institutional participation in the crypto market, that immediately had a positive impact on its capitalization.

Another driver of market growth this week was a message from the Hong Kong Monetary Authority (HKMA), which in fact, the central bank of the autonomous Chinese territory. It is ready to launch the blockchain trading platform within two months, where more than 20 banks acting as knots will cooperate. Bank of China, the Bank of East Asia, Hang Seng Bank, HSBC and Standard Chartered Bank are among them. HKMA expects that an increasing number of financial institutions will join the blockchain initiative. If this happens, the HKMA project will become one of the first trading platforms supported by government agencies.

The management of the American exchange Coinbase reported that the federal regulators approved the exchange to work as a broker on July 17. This means that Coinbase will now be able to offer users tokens that are classified as securities, in addition to the Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Last week there was a boom in the official twitter of the exchange due to a message about a possible listing of five popular cryptocurrencies: Cardano, Basic Attention Token, Stellar, Zcash and 0x. There was quick reaction by the Kraken exchange, which said a similar thing. In this message, clearly created in the mockery of Coinbase, Kraken's management announced a possible listing of 1600 popular cryptocurrencies that can be found on CoinMarketCap.

The market was also positively influenced by the launch of a mobile application by the Japanese mobile giant LINE with the support of 30 cryptocurrencies. The application will work on the basis of the developed by the LINE BITBOX crypto exchange, adapted for 15 different languages ​​and available worldwide. Now the application supports only crypto-to-crypto trading pairs without the possibility of trading in fiat. But news from Japan does not end: almost two years after the first launch announcement, the world's first crypto exchange owned by the bank finally began operating. On Tuesday, Japanese financial giant SBI Holdings officially announced the launch of its trading platform, called VCTRADE. During the preliminary launch last month, VCTRADE offered only XRP trading. SBI Holdings is in partnership with Ripple and is studying the application of blockchain and XRP technology in the field of remittances. By this time, the exchange supports trading pairs Bitcoin and Bitcoin Cash against the yen.

Bitcoin’s price showed a sharp increase this week and added $ 1150, increasing from $ 6377 to $ 7527. The maximum price, registered on July 20, was $ 7,595. At the end of the week, Bitcoin’s price increased by 18.03%.



*Provided by coinmarketcap.com


Starting the week with a mark of $ 109.313bn, by Sunday the market capitalization of Bitcoin reached $ 129.194bn, an increase of 18.10%.

The total altcoins capitalization increased from $ 145.392bn to $ 156.075bn (7.34%), showing a more modest growth compared with Bitcoin's capitalization.


*Provided by coinmarketcap.com


Bitcoin dominance index increased significantly by almost 3% from 42,31% to 45,29%.




*Provided by coinmarketcap.com


The DRI index (clear market capitalization) increased by 4,25%: from $235bn to $245bn.



*Provided by DRI DigRate


Bitcoin Diamond, Quantum Resistant Ledger and ATMCoin are gainers of the week, prices of their tokens increased by 96%, 60% and 50% respectively. Super Bitcoin, RealChain and Stox are losers of the week.


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


Project

Ticker

Volume (24h)

Price (22.07.18)

7d growth %

Bitcoin Diamond

BCD

$3 073 120

$4,14

96.34%

Quantum Resistant Ledger

QRL

$3 663 210

$0,639620

60.44%

ATMCoin

ATMC

$26 315 100

$2,05

50.22%

Holo

HOT

$2 200 900

$0,000607

49.06%

Dogecoin

DOGE

$11 063 300

$0,000602

46.33%



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


Project

Ticker

Volume (24h)

Price (22.07.18)

7d fall %

Super Bitcoin

SBTC

$1 899 130

$9,36

−64.44%

RealChain

RCT

$6 847 040

$0,024958

−56.98%

Stox

STX

$1 246 320

$0,290418

−30.60%

DaTa eXchange

DTX

$2 931 840

$0,019575

−28.59%

Coni

CONI

$19 771 400

$0,094019

−28.51%


14 ICOs were completed during this week, half of which were unable to collect the softcap.


The total amount of raised funds was $ 57,8M, which almost 2 times less than the previous week. Almost half of all the collected funds (40,8%) belong to the Liquidity Network. The number of completed ICOs increased by 1 project: from 13 to 14 per week.


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


Index

09.07-15.07

16.07-22.07

Total ICOs / $ million

13 /105,8

14 /57,8

Active / $ million

7 /105,8

7 /57,8

Failed / $ million

6 / -

7 / -

Dead / $ million

0 / 0

0 / 0



Gainers of the week:


Project

Ticker

Raised, $ million

Liquidity Network

LQD

23,6

Nauticus

NTS

17

PDX

PDXC

9,5

Raised in total


50,1



An announcement of ICO projects from 23.07 to 29.07.2018


Analysts of the rating agency for the evaluation of digital assets Digital Rating Agency selected the 5 most attractive projects from July 23 to July 29.


1. Casper API, ICO starts 23.07.2018. Category: Infrastructure. No DigRate score.


Casper API is a decentralized data storage system for DApps (decentralized applications) on any blockchain using smart contracts, that allows to create and manage large-scale DApps.


2. Codex Protocol, ICO starts 24.07.2018.Category: Blockchain Service. No DigRate score.


Codex Protocol is a blockchain platform for collecting and storing information about artworks, antiques, jewelry and collectibles, that allows to reliably determine the source of their origin. Codex management created a consortium of leading A & C Internet markets and has already attracted to the partnership more than 5,000 auction houses from more than 50 countries with annual sales of $ 6bn.


3. Wemark, ICO starts 24.07.2018. Category: Marketplace. No DigRate score.


Wemark is a decentralized platform for storing and selling photographs and other digital content that will allow participants to retain all rights to their content and license it directly for their customers, eliminating the need for using photo hosting (Shutterstock, Getty Images) that take up to 85% of the income of photographers.


4. Modex, ICO starts 25.07.2018. Category: Marketplace. No DigRate score.


Modex is a platform for trading smart contracts. The platform will include a set of necessary tools for working with smart contracts: a unified environment for development, auditing, as well as a test network for verifying the performance of smart contracts and a universal program for tracking blocks in various networks.


5. Quadrant Protocol, ICO starts 26.07.2018. Category: Data Management. No DigRate score.


Quadrant Protocol is a blockchain platform for data verification and management that will help to structure data sets and organize a clear system of reliable data on a decentralized basis. The platform will exist in the form of a community uniting suppliers and buyers of various kinds of data.