Weekly ICO and cryptocurrency market analysis from 04.06 to 10.06.2018 | Digital Rating Agency

Weekly ICO and cryptocurrency market analysis from 04.06 to 10.06.2018

11.06.2018

Weekly ICO and cryptocurrency market analysis from 04.06 to 10.06.2018

The cryptocurrency market has been moving within a narrow margin during the week from June 4 to June 10, but there was a sharp drop in capitalization on June 10 - the market lost about $ 26bn for a day. At the same time, as a result of the week, the total market capitalization fell by 13.3% from $ 345bn to $ 299bn. Many believe that the reason for such a serious fall could caused by a break in the South Korean exchanger CoinRail and SEC requests sent to Coinbase, Kraken and Bitstump as part of the price manipulation investigation. Although these reasons are not enough for such fall.


The biggest headline of the week was the purchase of GitHub by Microsoft Corporation. The platform for developers was purchased  for $ 7.5bn. The news has revived the crypto community, and the main developer of Bitcoin Core Vladimir Van Der Laan hurried to make a comment on this matter. He said that this event is "the beginning of a long and painful way to decline" and now developers need to look for another place, except GitHub. The company recorded an unprecedented growth in the number of projects leaving GitHub immediately after the news.


A lot of disputes and discussions are caused by the ban of ads related to cryptocurrencies by Google, which came into force on June 1. Many experts call it "unethical," as the company has plans for issuing its own cryptocurrency, and ban is a method of unfair competition. The company itself has not reacted to such criticism.


One of the few positive news of this week was the appearance of the first cryptocurrency city in Australia - Agnes Waters. More than 30 local companies, including realtors, tour operators, restaurants and even the local pub now accept crypto. Spirit of optimism was brought by reports of the Susquehanna International and the Fidelity Investments, who announced their intention to enter the cryptocurrency market. Another positive news is the entry of the Coinbase exchange into the Japanese market, which is one of the largest digital currency markets. Plus, the exchange officially registered with the SEC as a broker dealer. Moreover, Bittrex began testing of trading pairs with fiat.


The Bitcoin price has decreased by 11.3% from $ 7,627 as of June 4 to $ 6,760 as of June 10. The biggest change in the price occurred on June 10, Bitcoin has fallen in price by $ 866 at once.


Stakenet, ZIP and Tokenomy became gainers of the week, the prices of their tokens have increased by 57%, 30% and 24% respectively. Steem Dollars, Skrumble Network and  NKN are main losers of the week.


Bitcoin market capitalization has lost $ 14.5bn from $ 130.333bn as of June 4 to $ 115.819bn as of June 10. In percentage terms, the fall was 11.1%.





*Provided by coinmarketcap.com


The total altcoins capitalization (excluding Bitcoin) has also decreased from $ 214.554bn to $ 184.071bn (14.2%), falling faster than Bitcoin's capitalization by 3.1%.




*Provided by coinmarketcap.com



Bitcoin’s dominance index has increased by 1.08%, due to the faster decline rate in the majority of altcoins.



*Provided by coinmarketcap.com


The Bitcoin price has decreased by 11.3% from $ 7,627 as of June 4 to $ 6,760 as of June 10. The biggest change in the price occurred on June 10, Bitcoin has fallen in price by $ 866 at once.





*Provided by DRI DigRate


The consolidated DRI index (market capitalization index, cleared of "dead" and non-traded coins) has decreased by 13.5%: from $ 296.93bn to $ 256.78bn.


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


Token name

Ticker

Volume (24h)

Price (10.06.18)

7d growth %

Stakenet

XSN

$1 136 570

$0,754750

57.70%

ZIP

ZIP

$6 100 500

$0,002885

30.04%

Tokenomy

TEN

$2 165 820

$0,360474

24.25%

Trade Token

TIO

$3 959 640

$0,460481

22.08%

Bibox Token

BIX

$39 384 800

$1,560000

21.24%


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

Token name

Ticker

Volume (24h)

Price (10.06.18)

7d fall %

Steem Dollars

SBD

$1 044 630

$1,400000

−54.96%

Skrumble Network

SKM

$12 050 100

$0,034745

−47.77%

NKN

NKN

$3 369 330

$0,253141

−47.20%

Endor Protocol

EDR

$1 011 470

$0,120858

−45.01%

Delphy

DPY

$1 700 600

$1,310000

−42.22%


23 ICOs were completed during this week, only 12 projects of which were able to collect the 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 was $ 144,7M, which is 2.5 times less than the previous week. The number of completed ICOs has decreased by 3 times: from 69 to 23 per week.


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


Index

28.05-03.06

04.06-10.06

Total ICOs / $ million

69 / 370

23 / 144,7

Active / $ million

31 /370

12 /144,7

Failed / $ million

38 / -

11 / -

Dead / $ million

0 / 0

0 / 0


Gainers of the week:

Project name

Ticker

Raised, $ million

4NEW

FRNC

41,5

Aitheon

AIC

25,3

Atonomi

ATMI

25

Raised in total


91,8



Scam of the week


Money Trade Coin — the Mumbai police arrested a fraudulent gang after they deceived people by promising super profits. "Flintstone Group" has been working under the cover of a real estate company from 2016 and has been offering investments in cryptocurrencies. However, investors reported violations to the police after the company failed to secure the promised profit. Subsequently, the police raided the office of the firm. Unfortunately, the main suspects by that time fled the country, as a result, investigations were suspended.


Coinone — after a 10-month investigation conducted by the cybercrime unit, the South Korean police department confirmed that it would continue to pursue the Coinone cryptocurrency giant on charges of illegal gambling. The company has been providing services for margin trading without the appropriate permission of the authorities.



Announcement of ICO projects from 11.06 to 17.06.2018.


Analysts of the rating agency for the evaluation of digital assets Digital Rating Agency selected the 5 most attractive projects from 11 to 17 June, 2018.


1. GoNetwork, ICO starts 11.06.2018. Category: Infrastructure. No DigRate score.


GoNetwork offers a mobile network architecture to solve problems of scalability, high commissions and transaction confirmation velocity in the Ethereum network through off-line transactions, that will reduce the network load.


2. Liquidity Network, ICO starts 14.06.2018. Category: Infrastructure. No DigRate score.


Liquidity Network is another solution for the Ethereum network, similar to the Lightning Network for the Bitcoin network. The platform will allow holders of Ethereum wallets to use off-line protocol for payment channels, that will increase transfers velocity significantly.


3. Emotiq, ICO starts 15.06.2018. Category: Infrastructure. No DigRate score.


Emotiq is a blockchain platform with the PoS algorithm, built on the basis of the OmniLedger protocol for greater network scalability and data confidentiality. The platform uses sharding technology and evidence with zero-knowledge proof.


4. FANTOM, ICO starts 15.06.2018. Category: Infrastructure. No DigRate score.


FANTOM is a blockchain platform with consensus based on a directed acyclic graph (DAG), which will solve the existing problems of scalability and time of transaction confirmation of blockchain technology.


5. COTI, ICO starts 15.06.2018. Category: Cryptocurrency. No DigRate score.


COTI is a payment system and cryptocurrency, also using DAG technology, which modestly contrasts itself with Visa and MasterCard. Instant secure transfers and close to zero commissions await us with the advent of this system.