Popular crypto payment processor, Bitpay, announced formal agreement with Florida’s Seminole County Tax Collector, Joel M. Greenberg. bitcoin core (BTC) and bitcoin cash (BCH) can now both be used for tax payments, beginning this summer. County residents can pay in crypto for driver licenses, ID cards, and even property taxes.
Also read:
Bitpay Allows Enthusiasts in Seminole County, Florida to Pay Taxes in Crypto
File under: bitter sweet. Joel M. Greenberg, Seminole County Tax Collector, explained, “We live in a world where technology has made access to services on demand, with same-day delivery and the expectation of highly efficient customer service and we should expect the same from our government. The aim of my tenure in office is to make our customer experience faster, smarter, and more efficient, and to bring government services from the 18th century into the 21st century and one way is the addition of cryptocurrency to our payment options.”
Mr. Greenberg
Cryptocurrency isn’t necessarily moral nor immoral. It is an amoral technology, a tool. It can be used for terrorism, vacation getaways, housing, and, now, taxes. As governments are wont, they’re usually immune from innovation. But when it comes to revenue collection they’re surprisingly spry, alert, on it. Paying taxes by credit or debit has been a thing for a while, but always involved processors taking a heavy cut. The advent of crypto and the Bitpay Visa does away with a great many previous frictions, making the expropriation experience win-win: enthusiasts don’t have to do yet another conversion, and governments save in fees.
Holding Noses, Simplified
Head of Compliance at Bitpay, Jeremie Beaudry, detailed, “Bitpay was started because we recognized the potential for blockchain to revolutionize the financial industry, making payments faster, more secure, and less expensive on a global scale. With the Seminole County Tax Collector’s office, we have engaged our first government agency to accept bitcoin and bitcoin cash by making it easy and seamless for them.”
And though the broader crypto community has its issues with funding governments, making paying them shouldn’t be any more cumbersome than need be. Bitpay and Seminole County teamed to allow bitcoin cash and bitcoin core for pretty much everything: car tags and titles, licenses, even property tax.
The county tax collector gets their money settled by the following business day, paid directly to the account in fiat. The local government is spared notorious price volatility and the usual risk associated with crypto. As Bitpay’s press release insists, through a “push transaction, the user sends the exact amount of bitcoin or bitcoin cash needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards.” The company’s fees are also better than merely competitive, as 1% per approval is way below market rate. And for those wishing to pay their taxes, the processor can be accessed through traditional computers or smartphones.
Is the ability to pay taxes with crypto a good way to increase overall adoption? Let us know what you think about this subject in the comments below.
Images via Shutterstock, Pixabay, Bitpay.
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The post appeared first on .
Information as of May 14, 2018
This report was created by:
Professor , Doctor of Economics, Member of the Russian Academy of Natural Sciences, and Leading Analyst at ICOBox;
, PhD in Economics, Head of International Public Relations and Business Analytics Department Chief at ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox
This report presents data on the ICO market changes during 2018. Special emphasis has been placed on an analysis of the changes that have taken place in April-May 2018, including over the past week (May 7-13, 2018).
1. General analysis of the ICO market (by week, month)
1.1. Brief overview of ICO market trends
Table 1.1. Brief ICO market overview, key events, news for the week of May 7-13, 2018
| № | Factors and events
(link to source) |
Date of news | Description | Type of impact |
| 1. | Telegram Unveils Telegram Passport, the First Service for Its Future Telegram Open Network (TON) [source: ] | May 10, 2018 | The company has launched private testing of the personal data storage service Telegram Passport, which will make it possible to identify users. Telegram Passport can collect the data of passports, foreign travel passports, and driver’s licenses. | Favorable
ICO ⇑
|
| 2. | Kodak’s Not-Quite ICO to Launch May 21, As the SEC Cracks Down [source: ] | May 10, 2018 | WENN Digital, the blockchain startup that is developing an image copyright management service for the company, has announced that the sale of KodakCoin tokens will begin in the end of May. | Favorable
ICO ⇑
|
Table 1.2 shows the development trends on the ICO market since the beginning of 2018. Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered.
Table 1.2. Aggregated trends and performance indicators of past (completed) ICOs1, 2
| Indicator | January
2018 |
February
2018 |
March
2018 |
April
2018 |
May 1-6, 2018 | May 7-13, 2018 |
| Total amount of funds collected, USD million | 1 666 | 2 702 | 7 174 | 1 085 | 249.8 | 361.8 |
| Number of companies that completed an ICO1 | 95 | 95 | 83 | 107 | 16 | 19 |
| Maximum collected, USD million (ICO name) | 100
(Envion) |
850
(Pre-ICO-1 TON) |
5000
(Petro3) |
133
(Basis (previously Basecoin)) |
35
(SHIVOM) 35 (Solve.Care) |
72 (Flashmoni) |
| Average collected funds, USD million | 17.5 | 28.4 | 86.4 | 10.1 | 15.6 | 19.0 |
Note:
1 Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com. For some ICOs information may currently be incomplete (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.
2 Including the TON Pre-ICO-1,2 and the Petro ICO.
3 According to the data from the official website of the Petro ICO, Petro sales equaled more than $5 billion, which is equivalent to more than $4 billion euros or $31 billion yuan (). However, the data on the amount collected by El Petro from some other sources differ. For example, according to criptomoedasfacil.com, the amount of funds collected cannot exceed billion taking into account discounts, the project indicates billion, and other sources mention the billion stated, among others, by the President of Venezuela Nicolas Maduro.
4 The data for 2018 have been updated (date updated: May 13, 2018).
The data for the previous period (since January 1, 2018) have been adjusted to account for the appearance of more complete information on past ICOs. Over the past week (May 7-13, 2018) the amount of funds collected via ICOs equaled $361.8 million. This amount consists of the results of 19 successfully completed ICOs, with the largest amount of funds collected equaling $72 million (Flashmoni ICO). The average collected funds per ICO project equaled 19 million (see Tables 1.2, 1.3).
Table 1.3. Amount of funds collected and number of ICOs
| Month | Collected,
$ million |
Number of ICOs* | Average collected,
$ million |
| January 2017 | 3.7 | 7 | 0.53 |
| February | 35.3 | 11 | 3.21 |
| March | 7.3 | 4 | 1.82 |
| April | 115.2 | 18 | 6.4 |
| May | 264.2 | 21 | 12.58 |
| June | 649.5 | 33 | 19.68 |
| July | 719.1 | 36 | 19.97 |
| August | 511.2 | 48 | 10.65 |
| September | 914.2 | 68 | 13.44 |
| October | 949.6 | 91 | 10.44 |
| November | 1 109 | 91 | 12.19 |
| December | 1 611.9 | 86 | 18.74 |
| Total, 2017 | 6 890.1 | 514 | 13.4 |
| January 2018 | 1 666 | 95 | 18 |
| February 2018 | 2 702 | 95 | 28.4 |
| March 2018 | 7 174 | 83 | 86.4 |
| April 2018 | 1 085 | 107 | 10.1 |
| May 1-6, 2018 | 249.8 | 16 | 15.6 |
| May 7-13, 2018 | 361.8 | 19 | 19.0 |
| Total for 2018*** | 13 239.0 | 415 | 31.9 |
* Data source: tokendata.io, icodrops.com, icodata.io, coinschedule.com, cryptocompare.com, smithandcrown.com.
Information on funds collected is not available for all ICOs (information for last week is tentative and may be adjusted). ICOs that collected less than $100,000 were not considered.
** More than 1,000 ICOs were performed in 2017. However, the data for the 514 largest and most popular ICOs, the data of which can be processed, were considered when calculating the total amount of funds collected during 2017.
*** Including TON Pre-ICO-1,2 ($1.7 billion) and the Petro ICO ($5 billion). The data for 2018 have been updated (date updated: May 13, 2018).
Table 1.3 shows that the largest amount of funds was collected via ICOs in March 2018, mainly due to the appearance of major ICOs. The highest average collected funds per ICO was also seen in March 2018.
Figure 1.1. Trends in funds collected and number of ICOs since the start of 2017
1.2. Top ICOs of last week
Table 1.4 shows the ten largest ICOs of the week.
Table 1.4. Top 10 ICOs in terms of the amount of funds collected (May 7-13, 2018)*
| № | Name of ICO*** | Category** | Collected, $ million | Date |
| 1 | Flashmoni | Commodities | 72 | May 10, 2018 |
| 2 | HYCON | Infrastructure | 55 | May 10, 2018 |
| 3 | PATRON | Social Network | 36 | May 10, 2018 |
| 4 | DAOstack | Governance | 30.0 | May 8, 2018 |
| 5 | Bezant | Commerce & Advertising | 27.5 | May 11, 2018 |
| 6 | Bob Token | Identity & Reputation | 18.6 | May 10, 2018 |
| 7 | Virtue Poker | Gambling & Betting | 19 | May 9, 2018 |
| 8 | PULSAR | Trading & Investing | 15.6 | May 13, 2018 |
| 9 | Traxia Membership Token | Finance | 13 | May 9, 2018 |
| 10 | Gron Digital | Gambling & Betting | 12.6 | May 9, 2018 |
| Top 10 ICOs* | 299 | |||
| Total funds collected from May 7-13, 2018 (19 ICOs)* | 361.8 | |||
| Average funds collected | 25.8 |
* When compiling the lists of top ICOs, information from the websites tokendata.io, icodrops.com, icodata.io, coinschedule.com and other specialized sources is used.
** The category was established based on expert opinions.
*** Only popular and/or successfully completed ICOs (i.e. ICOs which managed to collect the minimum declared amount of funds) and/or ICOs listed on exchanges were considered. Information may be incomplete for some ICOs (for instance, the amount of funds collected). ICOs that collected less than $100,000 were not considered.
The data for the previous period (May 7-13, 2018) may be adjusted as information on the amounts of collected funds by completed ICOs is finalized.
The leader of the week was the Flashmoni project, which can be assigned to the Commodities category. In second place was , which collected around $55 million (including $48 million previously during its PRE-ICO and PRIVATE sale, with the rest coming from a crowdsale).
is a project aimed at expanding the possibilities to use cryptocurrencies as a means of payment (in this respect, the project is similar to many other projects from the Payment category), but this project plans to improve the level of stability of financial funds by pegging each unit of the cryptocurrency to physical gold.
In third place was the Japanese project , which can be assigned to the Social Network category. PATRON is a department store for professionals oriented on social networks, brands, and influencers. The platform promotes the exchange economy between C2C/SNS and social media.
Figure 1.2 presents the ten largest ICOs completed during the past week.
Figures 1.2. Top 10 ICOs in terms of the amount of funds collected (May 7-13, 2018)
1.3. Top ICOs in their categories
The list of top ICOs by category is compiled with due account of the categories of the leading ICOs for the week: , , . Major ICOs are traditionally held in the Infrastructure category, therefore even though the HYCON project collected around $55 million, it did not break into the top 10 in the category. Below the top projects in the Commodities and Social Network categories, respectively, are given (Tables 1.5, 1.6).
Table 1.5. Top 10 ICOs in terms of the amount of funds collected, Commodities category
| № | Name of ICO | Category* | Collected, $ million | Date | Token performance |
| 1 | Petro | Commodities | 5000 | April 21, 2018 | n/a |
| 2 | Flashmoni | Commodities | 72 | May 10, 2018 | n/a |
| 3 | Pecunio | Commodities | 20.5 | April 19, 2018 | n/a |
| 4 | ZrCoin | Commodities | 7.05 | June 9, 2017 | 0.63x |
| 5 | Goldmint | Commodities | 6.9 | November 11, 2017 | 0.24x |
| 6 | Hellogold | Commodities | 5.2 | October 5, 2017 | n/a |
| 7 | Zengold | Commodities | 4.55 | May 26, 2017 | n/a |
| 8 | SmartGold | Commodities | 4.274 | April 25, 2018 | n/a |
| 9 | Sand Coin | Commodities | 1.7 | October 18, 2017 | n/a |
| 10 | Magma | Commodities | 1.5 | May 1, 2018 | n/a |
* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in April-May 2018 are highlighted in red.
The Commodities category includes projects that are secured by raw materials. Right now its unquestioned leader in terms of the amount of funds collected is the Petro project. While the Petro project is secured by oil, ZrCoin represents an option for commercial production of synthetic zirconium dioxide, Goldmint positions itself as a cryptocurrency secured by gold, etc.
Half of the projects from the top 10 were performed in April and May 2018, so to date there is still no data on token performance. The projects ZrCoin and Goldmint, performed in 2017, have fairly low token performance indicators (less than 1). For example, the trading volumes of Zengold have fallen since the start of 2018 from $250,000 to $2,000-3,000 per day, and the capitalization of ZrCoin has decreased to $3.2 million.
Figure 1.3.Top 10 ICOs in terms of the amount of funds collected, Commodities category
Below we give the ten largest projects in the Social Network category, which includes one of the largest ICOs, the Telegram Open Network (). Over the first two rounds in February-March, TON collected $1.7 billion (the third (public) round will not be held). TON is already for storage of personal data for blockchain platforms, and the following are also planned:
TON Blockchain and TON P2P Network. A platform with several blockchains, capable of processing millions of transactions a second, and a network that will be used for access to various TON blockchains.
TON Payments. Purchase/sale of goods with secure (guaranteed) mechanisms and anonymous transactions directly in chat. A wallet for storing cryptocurrencies in the messenger. Transfers – exchange of Grams (the TON blockchain cryptocurrency) between users without delays and statements on the origin of the funds.
TON Storage. Technology for distributed data storage.
TON Services. A platform for outside services, which will ensure access to decentralized applications and smart contracts.
TON DNS. This is a service that will make access to the decentralized services as easy as looking at websites in the Internet.
TON is also designed to make it possible to integrate with other social networks and applications. A subscription provides access to paid content, a paid channel or group.
Therefore, due to its scope and intention to implement additional areas of diversification in addition to the ordinary social network for communication (messenger), it most likely fits in the category of infrastructure projects.
Table 1.6. Top 10 ICOs in terms of the amount of funds collected, Social Network category
| № | Name of ICO | Category* | Collected, $ million | Date | Token performance |
| 1 | Kin | Social network | 100 | September 25, 2017 | 2.79x |
| 2 | PATRON | Social Network | 36 | May 10, 2018 | n/a |
| 3 | Sapien Network | Social Network | 20 | March 21, 2018 | n/a |
| 4 | Skrumble Network | Social Network | 16.47 | May 5, 2018 | 1.56x |
| 5 | Sense | Social Network | 15 | November 30, 2017 | 0.24x |
| 6 | CFun | Social Network | 15 | December 19, 2017 | n/a |
| 7 | Narrative network | Social Network | 14.64 | March 29, 2018 | n/a |
| 8 | AdHive | social network | 12 | February 28, 2018 | 0.77x |
| 9 | LUNA | Social Network | 12 | February 1, 2018 | n/a |
| 10 | Ties.Network | Social Network | 9.2 | October 26, 2017 | 0.34x |
* When compiling the lists of top ICOs, information from the websites tokendata.io, com, icodata.io, coinschedule.com and other specialized sources is used. The ICO project categories correspond to the information from the website coinschedule.com. If there is no information on the website concerning the project category at the time of compilation of this analytical report, the category is determined by experts.
** The top projects in this category completed in May 2018 are highlighted in red.
At present, all projects from the top 10 in this category have a token performance indicator of 0.34x to 2.79x. The leading project, Kin, can be considered one of the most successful exchange listings, as this project has a current token price to token sale price ratio of 2.79x. When considering this indicator, it is important to remember that the Kin ICO was completed on September 25, 2017, i.e. the 2.79x growth took place over approximately six and a half months. The market capitalization of Kin is currently $275.5 million.
Figure 1.4. Top 10 ICOs in terms of the amount of funds collected, Social Network category
During the analyzed period (May 7-13, 2018) at least 19 ICO projects were successfully completed, each of which collected more than $100,000, with the total amount of funds collected exceeding $360 million. Last week’s leader was the Flashmoni project, which collected $72 million. The total amount of funds collected by a number of ICOs failed to reach even $100,000 (the information for some projects is still being finalized).
Annex – Glossary
| Key terms | Definition |
| Initial coin offering, ICO | A form of collective support of innovative technological projects, a type of presale and attracting of new backers through initial coin offerings (token sales) to future holders in the form of blockchain-based cryptocurrencies and digital assets. |
| Token sale price
Current token price |
Token sale price during the ICO.
Current token price. |
| Token reward | Token performance (current token price ÷ token sale price during the ICO), i.e. the reward per $1 spent on buying tokens. |
| Token return | (see token reward) Performance of funds spent on buying tokens or the ratio of the current token price to the token sale price, i.e. performance of $1 spent on buying tokens during the token sale, if listed on an exchange for USD. |
| ETH reward – current dollar value of $1 spent on buying tokens during the token sale | Alternative performance indicator of funds spent on buying tokens during the ICO or the ratio of the current ETH price to its price at the start of the token sale, i.e. if instead of buying tokens $1 was spent on buying ETH at its rate at the start of the token sale and then it was sold at the current ETH price. |
| BTC reward– current dollar value of $1 spent on buying tokens during the token sale | Similar to the above: Alternative performance indicator of funds spent on buying tokens during the token sale, i.e. if instead of buying tokens $1 was spent on buying BTC at its price at the start of the token sale and then it was sold at the current BTC price. |
| Token/ETH reward | This ratio describes a market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying ETH. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on ETH. |
| Token/BTC reward | This ratio describes the market participant’s economic benefits and disadvantages resulting from buying tokens during the token sale relative to buying BTC. If the result is over 1, the market participant spent his funds more efficiently on buying tokens than if he were to have spent his funds on BTC. |
The post appeared first on .
Information as of May 14, 2018
This report was created by:
Professor , Doctor of Economics, Member of the Russian Academy of Natural Sciences, and Leading Analyst at ICOBox;
, PhD in Economics, Head of International Public Relations and Business Analytics Department Chief at ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox;
, Co-Founder of ICOBox
This report presents data on the cryptocurrency market changes during 2018. Special emphasis has been placed on an analysis of the changes that have taken place in April-May 2018, including over the past week (May 7-13, 2018).
1. General cryptocurrency and digital assets market analysis (by week, month, quarter). Market trends.
1.1 General cryptocurrency and digital assets market analysis (by week, month)
Table 1.1. Trends in capitalization of the cryptocurrency market and main cryptocurrencies from February 1, 2018, to May 13, 2018*
| № | Parameter | 1-Feb-18 | 1-Mar-18 | MoM, % | 1-Apr-18 | MoM, % | 1-May-18 | DoD, % | 6-May-18 | DoD, % | 13-May-18 | DoD, % |
| 1 | Total market capitalization, USD billion | 517.2 | 440.0 | -14.9% | 263.9 | -40.0% | 423.2 | 60.4% | 467.2 | 10.4% | 390.0 | -16.5% |
| 2 | Altcoin market capitalization, USD billion | 344.8 | 264.6 | -23.3% | 145.2 | -45.1% | 265.8 | 83.1% | 299.7 | 12.8% | 245.0 | -18.3% |
| Altcoin dominance, % | 66.7% | 60.1% | – | 55.0% | – | 62.8% | – | 64.1% | – | 62.8% | – | |
| 3 | bitcoin price, $ | 10 237.3 | 10 385.0 | 1.4% | 7 003.1 | -32.6% | 9 251.5 | 32.1% | 9 845.3 | 6.4% | 8 515.5 | -13.5% |
| bitcoin market capitalization, USD billion | 172.4 | 175.4 | 1.8% | 118.7 | -32.3% | 157.4 | 32.6% | 167.5 | 6.5% | 145.0 | -13.4% | |
| bitcoin dominance, % | 33.3% | 39.9% | – | 45.0% | – | 37.2% | – | 35.9% | – | 37.2% | – | |
| 4 | Ethereum price, $ | 1 119.4 | 856.0 | -23.5% | 397.3 | -53.6% | 670.5 | 68.8% | 816.1 | 21.7% | 687.2 | -15.8% |
| Ethereum market capitalization, USD billion | 109.0 | 83.8 | -23.1% | 39.1 | -53.3% | 66.5 | 69.8% | 81.0 | 21.8% | 68.3 | -15.7% | |
| Ethereum dominance, % | 21.1% | 19.0% | – | 14.8% | – | 15.7% | – | 17.3% | – | 17.5% | – | |
| 5 | bitcoin Cash price, $ | 1 491.1 | 1 204.8 | -19.2% | 688.0 | -42.9% | 1 348.6 | 96.0% | 1 758.8 | 30.4% | 1 474.8 | -16.2% |
| bitcoin Cash market capitalization, USD billion | 25.3 | 20.5 | -19.0% | 11.7 | -42.7% | 23.1 | 96.6% | 30.1 | 30.5% | 25.3 | -16.1% | |
| bitcoin Cash dominance, % | 4.9% | 4.7% | – | 4.4% | – | 5.5% | – | 6.4% | – | 6.5% | – | |
| 6 | Litecoin price, $ | 163.7 | 203.1 | 24.1% | 116.9 | -42.4% | 148.3 | 26.9% | 178.0 | 20.0% | 141.8 | -20.3% |
| Litecoin market capitalization, USD billion | 9.0 | 11.3 | 25.0% | 6.5 | -42.0% | 8.4 | 27.9% | 10.0 | 20.2% | 8.0 | -20.2% | |
| Litecoin dominance, % | 1.7% | 2.6% | – | 2.5% | – | 2.0% | – | 2.1% | – | 2.1% | – | |
| 7 | Volume (24h) 4 crypto, USD billion | 17.3 | 10.1 | -41.4% | 6.4 | -36.9% | 11.8 | 84.2% | 12.9 | 9.5% | 9.7 | -25.0% |
| Market cap 4 crypto, USD billion | 351.6 | 315.1 | -10.4% | 189.7 | -39.8% | 279.7 | 47.5% | 314.1 | 12.3% | 265.9 | -15.3% | |
| ZAK-4 Crypto index** | 4.9% | 3.2% | – | 3.4% | – | 4.2% | – | 4.1% | – | 3.6% | – | |
| 4 crypto dominance, % | 68.0% | 71.6% | – | 71.9% | – | 66.1% | – | 67.2% | – | 68.2% | – | |
| 8 | Volume (24h) 8 crypto, USD billion | 19.0 | 11.3 | -40.3% | 7.2 | -36.3% | 16.0 | 121.3% | 15.2 | -5.1% | 11.9 | -21.5% |
| Market cap 8 crypto, USD billion | 393.4 | 349.3 | -11.2% | 208.7 | -40.2% | 319.5 | 53.1% | 356.4 | 11.6% | 299.8 | -15.9% | |
| ZAK-8 Crypto index*** | 4.8% | 3.2% | – | 3.5% | – | 5.0% | – | 4.3% | – | 4.0% | – | |
| 8 crypto dominance, % | 76.1% | 79.4% | – | 79.1% | – | 75.5% | – | 76.3% | – | 76.9% | – |
* Data as of May 13, 2018 (all figures calculated at 03:00 UTC)
** Since December 1, 2017, the ZAK-4 index has been calculated using the cryptocurrencies bitcoin, Ethereum, Ripple, and bitcoin Cash.
*** When calculating the ZAK-8 index, the cryptocurrencies with the largest capitalization are used. At present (May 13, 2018), the cryptocurrencies bitcoin, Ethereum, Ripple, bitcoin Cash, Cardano, Litecoin, Stellar, and EOS are used to calculate the ZAK-8 index.
Data source: coinmarketcap.com
Over the past week (May 7-13, 2018) cryptocurrency market capitalization decreased, and as of 03:00 UTC on May 13 equaled $390 billion (see Table 1.1, Fig. 1). The drop in capitalization during the week took place mainly due to a fall in altcoin prices (by $55 billion), as well as due to a depreciation in the bitcoin price (by $22 billion).
The dominance of the four and eight largest cryptocurrencies as of 03:00 UTC on May 13, 2018, equaled 68.2% and 76.9%, respectively, with bitcoin dominance increasing to 37.2% (see Table 1.1). Despite the overall reduction in cryptocurrency market capitalization, considerable growth was seen last week in the prices of certain cryptocurrencies from the third (top 500) echelon by capitalization, such as Hydrogen (+209.05%), Primas (+135.19%), Hexx (+126.26%), Storiqa (+66.60%), and others.
The most significant changes took place on May 10-12, 2018, when capitalization fell from $440 billion to $367 billion (Fig. 1), i.e. by $73 billion. Part of the reason for the reduction in capitalization might have been the concerning the withdrawal of 8,200 bitcoins from the wallets of Mt. Gox.
Figure 1. Cryptocurrency market capitalization since April 16, 2018
Data source: coinmarketcap.com
The rise and fall of cryptocurrency prices over the past week (May 7-13, 2018)
During the period from May 7-13, 2018, the change in the prices of cryptocurrencies in the top 500 ranged from -57.12% (Paypex) to +209.05% (Hydrogen).
is a project that plans to use public blockchain to revolutionize the financial sector.
The price of 58 cryptocurrencies and digital assets from the top 500 showed growth. Twelve cryptocurrencies in the list of the top 100 cryptocurrencies showed growth.
This past week the number of cryptocurrencies with a capitalization of more than $1 billion decreased from 30 to 24, with the price of nearly all of them falling except for Bytecoin (+27.38%), Zilliqa (+23.58%) and Tether (the price of which is tied to the US dollar). Qtum experienced the largest downward adjustment among the 24 largest cryptocurrencies (-28.08%).
The Bytecoin price increased by nearly a factor of compared to BTC over the first five hours after its on May 8, but then began to depreciate just as quickly. Ultimately, the growth over the week equaled around +27.38%, with due account of the average values of coinmarketcap.com.
The coins and tokens from the top 100 that demonstrated the largest price growth are given in Fig. 2.
Biggest gainers and losers during the week (May 7-13, 2018)
The prices of some cryptocurrencies may fluctuate from -50% to +50% over the course of a single day. Therefore, when analyzing cryptocurrency price trends, it is advisable to use their average daily amounts on various cryptoexchanges.
Below we consider the 10 cryptocurrencies that demonstrated the most significant change in price over the past week (Fig. 2-3). In this regard, only those coins and tokens included in the top 100 in terms of market capitalization (according to the data of coinmarketcap.com) were considered.
Figure 2. Largest growth in prices over the past week
Data source: coinmarketcap.com
The change in price was calculated based on average daily data
Tables 1.2 and 1.3 show the possible factors or events that might have influenced the fluctuation in prices for certain cryptocurrencies. Table 1.4 shows the possible factors or events that might have influenced the cryptocurrency market in general.
Table 1.2. Factors or events that might have led to a growth in cryptocurrency prices over the past week
| № | Coins and tokens | Symbol | Price growth over the week, % | Average price in $ on May 13, 2018 | Market capitalization, USD billion | Factors or events that might have led to a growth in cryptocurrency prices over the past week |
| 1 | Huobi Token | HT | 35.16% | $3.57 | 0.18 | The price of the Huobi Token increased significantly this week, although there was no special reason for it to do so. The growth may be connected with the team’s promise to buyback tokens to support the cryptocurrency’s price.
The price of Dentacoin may have appreciated on the back of rumors on its listing on the major cryptoexchange OKEx The Bytecoin price grew by more than 150% on May 8, after its listing on the major exchange Binance The Zilliqa price also increased due to news on its listing on a different major cryptoexchange, OKEx Augur gave an optimistic update on the development work in progress, and may have shown positive growth this week against this backdrop The Nuls price was supported by positive news on it being awarded a prize at the Chinese blockchain summit The price movement of the other cryptocurrencies can be attributed to volatility. Polymath is a digital token for a platform that intends to create a single site for trading in securities transferred to blockchain. The 0x (ZRX) cryptocurrency is an open-source protocol created based on Ethereum smart contracts. Thanks to 0x, developers will be able to develop their own decentralized exchanges (DEX) Tether is an ordinary digital asset, with the one distinguishing feature that it uses the digital equivalent of fiat currencies (tied to the US dollar)
|
| 2 | Dentacoin | DCN | 30.55% | $0.000971 | 0.32 | |
| 3 | Bytecoin | BCN | 27.38% | $0.009179 | 1.69 | |
| 4 | Zilliqa | ZIL | 23.58% | $0.176249 | 1.28 | |
| 5 | Skycoin | SKY | 22.90% | $24.15 | 0.21 | |
| 6 | Augur | REP | 21.08% | $52.29 | 0.58 | |
| 7 | Nuls | NULS | 12.30% | $4.26 | 0.17 | |
| 8 | Polymath | POLY | 6.46% | $0.945653 | 0.23 | |
| 9 | 0x | ZRX | 6.04% | $1.62 | 0.86 | |
| 10 | Tether | USDT | 0.44% | $1.00 | 2.21 |
A depreciation in price was seen for 442 coins and tokens from the top 500 cryptocurrencies and digital assets by capitalization last week. The ten cryptocurrencies from the top 100 that experienced the most noticeable drops in price are shown in Fig. 3 and Table 1.3.
Figure 3. Largest fall in prices over the past week
Table 1.3. Factors or events that might have led to a fall in cryptocurrency prices over the past week
| № | Coins and tokens | Symbol | Fall in price over the week, % | Average price in $ on May 13, 2018 | Market capitalization, USD billion | Factors or events that might have led to a fall in cryptocurrency prices over the past week |
| 1 | Holo | HOT | -31.24% | $0.001248 | 0.17 | Most cryptocurrencies and tokens fell in price this week without any special visible reasons for doing so, simply following the overall market trend.
Holo is the digital token of the Holochain, which makes it possible to store and distribute data. The Storm platform is a meeting place for clients and contractors. In other words, Storm is a freelance exchange. bitcoin Gold (BTG) is the most decentralized among the bitcoin cryptocurrencies. Loopring is the digital token of a site for trading in tools produced on the Ethereum platform and other tools using the ERC20 protocol. Qtum has created a flexible and easy to use system. The main advantages of the Qtum blockchain is the utilization of master contracts that can be used both “off-chain” and “on-chain”. bitcoin Diamond is one of the many bitcoin hard forks, which took place on November 24, 2017, on the 495,866 block of the bitcoin network. Nano (NANO) is a decentralized site that only provides users with monetary functions. This means that the developers were careful to create a narrowly focused and advanced system for performing transactions. Cortex (CTXC) tokens are one of two means of payment on the platform. The second is the Endorphin token. DigixDAO is a site for tokenization of real assets, which gives users the ability to use the tokens to buy gold. Hcash is a decentralized cross-platform open-source cryptocurrency that ensures easy exchange of value and data between platforms.
|
| 2 | Storm | STORM | -29.40% | $0.042951 | 0.18 | |
| 3 | bitcoin Gold | BTG | -28.93% | $56.88 | 0.97 | |
| 4 | Loopring | LRC | -28.45% | $0.631846 | 0.36 | |
| 5 | Qtum | QTUM | -28.08% | $16.33 | 1.45 | |
| 6 | bitcoin Diamond | BCD | -27.31% | $3.97 | 0.61 | |
| 7 | Nano | NANO | -27.09% | $6.28 | 0.84 | |
| 8 | Cortex | CTXC | -26.52% | $1.38 | 0.21 | |
| 9 | DigixDAO | DGD | -26.40% | $191.88 | 0.38 | |
| 10 | Hshare | HSR | -26.26% | $9.32 | 0.40 |
Data source: coinmarketcap.com
The change in price was calculated based on average daily data
Overall, cryptocurrency market capitalization fell by more than $70 billion, or 16%, over the week. Table 1.4 shows events that took place from May 7-13, 2018, that had an impact on both the prices of the dominant cryptocurrencies and the market in general, with an indication of their nature and type of impact.
Table 1.4. Key events of the week having an influence on cryptocurrency prices, May 7-13, 2018
| № | Factors and events
(link to source) |
Date of news | Description | Nature of impact | Type of impact |
| 1. | Japan’s FSA Sets New Crypto Regulatory Paradigm [source: ] | May 7, 2018 | The Financial Services Agency has announced the preparation of more strict regulatory restrictions aimed at preventing large-scale attacks on cryptocurrency exchanges such as the hack of Coincheck in January. | Market ⇓ | Unfavorable |
| 2. | Launch of bitcoin Futures Dragged Down Prices, Fed Paper Shows [source: ] | May 7, 2018 | According to analysts of the San Francisco Federal Reserve, the rapid growth and subsequent fall in cryptocurrency prices “is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.” | Market
BTC ⇓ |
Uncertain |
| 3. | South Korea Financial Supervisory Service Changes Its Stance on Cryptocurrency [source: ] | May 8, 2018 | The new head of the Financial Supervisory Service Yoon Suk-heun announced that he sees “some positive aspects” to cryptocurrencies. The official believes that the industry needs better regulation.
|
Market ⇑
|
Favorable |
| 4. | First Version of Ethereum’s Casper Update Has Been Released [source: ] | May 9, 2018 | Developers presented the planned update of the protocol, ensuring an economic consensus in the Ethereum network.
|
ETH ⇑
|
Favorable |
| 5. | 8,200 BTC Moved from Mt. Gox Wallet, Possible Sell-Off Affects bitcoin Price [source: ] | May 11, 2018 | The head of the board of trustees of the bankrupt bitcoin exchange Mt. Gox Nobuaki Kobayashi has allegedly moved 8,200 bitcoins from its wallets.
The transaction in the amount of 8,214.97084 BTC equaled $70.6 million at the exchange rate at the time of the move. |
BTC ⇓ | Favorable |
To analyze trading activity on cryptocurrency exchanges, the ZAK-n Crypto index is calculated (see the Glossary). The values of the ZAK-4 Crypto and ZAK-8 Crypto indices are presented in Tables 1.1, 1.5.a, and 1.5.b. In early May the 24-hour trading volumes (Volume 24h) for the four dominant cryptocurrencies (bitcoin, Ethereum, bitcoin Cash, Ripple) equaled from $9.7 billion to $16.4 billion (Table 1.5.a). The value of the daily ZAK-4 Crypto fluctuated from 3.6% to 5.8% of capitalization. The highest trading volume was seen on May 3.
Table 1.5.a. Daily ZAK-4 Crypto index calculation (from May 1-13, 2018)
| Crypto | bitcoin (BTC) | Ethereum (ETH) | bitcoin Cash (BCH) | Ripple (XRP) | 4 Crypto | ||||||||||
| Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Volume (24h) 4 crypto | Market cap 4 crypto | ZAK-4 Crypto index | |
| Date | $ | USD billion | USD billion | $ | USD billion | USD billion | $ | USD billion | USD billion | $ | USD billion | USD billion | USD billion | USD billion | % |
| May 13, 2018 | 8 515 | 5.9 | 145.0 | 687 | 2.4 | 68.3 | 1 475 | 0.9 | 25.3 | 0.70 | 0.5 | 27.4 | 9.7 | 265.9 | 3.6% |
| May 12, 2018 | 8 441 | 6.8 | 143.7 | 680 | 2.7 | 67.6 | 1 376 | 1.5 | 23.6 | 0.69 | 0.6 | 26.9 | 11.5 | 261.7 | 4.4% |
| May 11, 2018 | 9 053 | 8.5 | 154.1 | 727 | 3.3 | 72.2 | 1 527 | 1.5 | 26.2 | 0.76 | 1.0 | 29.6 | 14.3 | 282.2 | 5.1% |
| May 10, 2018 | 9 326 | 6.9 | 158.8 | 753 | 2.7 | 74.8 | 1 646 | 1.1 | 28.2 | 0.80 | 0.4 | 31.5 | 11.1 | 293.2 | 3.8% |
| May 9, 2018 | 9 224 | 7.2 | 157.0 | 753 | 2.9 | 74.8 | 1 608 | 1.3 | 27.5 | 0.81 | 0.6 | 31.9 | 12.0 | 291.2 | 4.1% |
| May 8, 2018 | 9 381 | 7.4 | 159.7 | 755 | 2.9 | 75.0 | 1 673 | 1.1 | 28.6 | 0.83 | 0.5 | 32.6 | 11.9 | 295.9 | 4.0% |
| May 7, 2018 | 9 646 | 7.4 | 164.2 | 793 | 4.3 | 78.8 | 1 767 | 1.4 | 30.2 | 0.87 | 0.6 | 34.1 | 13.7 | 307.3 | 4.5% |
| May 6, 2018 | 9 845 | 7.2 | 167.5 | 816 | 3.1 | 81.0 | 1 759 | 1.9 | 30.1 | 0.90 | 0.6 | 35.4 | 12.9 | 314.1 | 4.1% |
| May 5, 2018 | 9 700 | 7.7 | 165.1 | 785 | 3.0 | 77.9 | 1 517 | 1.7 | 26.0 | 0.90 | 0.7 | 35.1 | 13.0 | 304.0 | 4.3% |
| May 4, 2018 | 9 696 | 8.2 | 165.0 | 777 | 3.5 | 77.1 | 1 501 | 1.0 | 25.7 | 0.88 | 1.0 | 34.5 | 13.7 | 302.2 | 4.5% |
| May 3, 2018 | 9 234 | 10.2 | 157.1 | 687 | 4.2 | 68.1 | 1 460 | 1.3 | 25.0 | 0.86 | 0.7 | 33.6 | 16.4 | 283.8 | 5.8% |
| May 2, 2018 | 9 105 | 7.6 | 154.9 | 674 | 2.8 | 66.8 | 1 354 | 1.2 | 23.2 | 0.84 | 0.5 | 32.9 | 12.1 | 277.7 | 4.4% |
| May 1, 2018 | 9 251 | 7.7 | 157.4 | 670 | 2.7 | 66.5 | 1 349 | 0.8 | 23.1 | 0.84 | 0.6 | 32.8 | 11.8 | 279.7 | 4.2% |
Data as of 03:00 UTC
Data source: coinmarketcap.com
The 24-hour trading volumes (Volume 24h) for the eight dominant cryptocurrencies (bitcoin, Ethereum, bitcoin Cash, Ripple, Litecoin, Stellar, EOS, and Cardano) equaled only $11.9 billion by the end of last week (Table 1.5.b), i.e. 4% of their market capitalization, i.e. trading volumes fell below the level at the start of the month. The ZAK-4 Crypto and ZAK-8 Crypto indices are considered in more detail in Tables 1.5.a and 1.5.b.
Table 1.5.b. Daily ZAK-8 Crypto index calculation (continuation of Table 1.5.а)
| Crypto | Stellar (XLM) | Cardano (ADA) | EOS (EOS) | Litecoin (LTC) | 8 Crypto | ||||||||||
| Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Price Open | Volume (24h) | Market cap | Volume (24h) | Market cap | ZAK-8 Crypto index | |
| Date | $ | USD billion | USD billion | $ | USD billion | USD billion | $ | USD billion | USD billion | $ | USD billion | USD billion | USD billion | USD billion | % |
| May 13, 2018 | 0.36 | 0.07 | 6.7 | 0.272 | 0.18 | 7.0 | 14.2 | 1.59 | 12.1 | 142 | 0.38 | 8.0 | 11.9 | 299.8 | 4.0% |
| May 12, 2018 | 0.31 | 0.09 | 5.8 | 0.263 | 0.26 | 6.8 | 15.0 | 3.09 | 12.7 | 137 | 0.41 | 7.8 | 15.4 | 294.9 | 5.2% |
| May 11, 2018 | 0.35 | 0.08 | 6.6 | 0.297 | 0.35 | 7.7 | 17.5 | 2.92 | 14.8 | 149 | 0.53 | 8.4 | 18.2 | 319.7 | 5.7% |
| May 10, 2018 | 0.38 | 0.04 | 7.0 | 0.324 | 0.12 | 8.4 | 18.0 | 1.29 | 15.2 | 157 | 0.43 | 8.9 | 13.0 | 332.7 | 3.9% |
| May 9, 2018 | 0.39 | 0.05 | 7.2 | 0.328 | 0.18 | 8.5 | 18.1 | 1.20 | 15.3 | 160 | 0.45 | 9.0 | 13.9 | 331.1 | 4.2% |
| May 8, 2018 | 0.40 | 0.05 | 7.4 | 0.336 | 0.14 | 8.7 | 18.0 | 1.45 | 15.1 | 165 | 0.47 | 9.3 | 14.0 | 336.4 | 4.2% |
| May 7, 2018 | 0.41 | 0.05 | 7.7 | 0.350 | 0.17 | 9.1 | 17.7 | 2.00 | 14.8 | 172 | 0.57 | 9.7 | 16.5 | 348.6 | 4.7% |
| May 6, 2018 | 0.43 | 0.04 | 8.0 | 0.366 | 0.15 | 9.5 | 17.7 | 1.43 | 14.8 | 178 | 0.63 | 10.0 | 15.2 | 356.4 | 4.3% |
| May 5, 2018 | 0.43 | 0.04 | 8.0 | 0.361 | 0.14 | 9.4 | 17.1 | 1.61 | 14.3 | 168 | 0.74 | 9.5 | 15.6 | 345.1 | 4.5% |
| May 4, 2018 | 0.44 | 0.05 | 8.1 | 0.371 | 0.17 | 9.6 | 17.7 | 1.75 | 14.8 | 160 | 0.63 | 9.0 | 16.3 | 343.8 | 4.7% |
| May 3, 2018 | 0.44 | 0.08 | 8.2 | 0.372 | 0.30 | 9.6 | 19.3 | 2.27 | 16.0 | 152 | 0.62 | 8.6 | 19.7 | 326.2 | 6.0% |
| May 2, 2018 | 0.44 | 0.07 | 8.2 | 0.358 | 0.27 | 9.3 | 18.9 | 2.41 | 15.7 | 148 | 0.35 | 8.4 | 15.2 | 319.2 | 4.8% |
| May 1, 2018 | 0.43 | 0.15 | 7.9 | 0.343 | 0.37 | 8.9 | 17.7 | 3.33 | 14.6 | 148 | 0.34 | 8.4 | 16.0 | 319.5 | 5.0% |
Table 1.6 gives a list of events, information on which appeared last week, which could impact both the prices of specific cryptocurrencies and the market in general.
Table 1.6. Events that could have an influence on cryptocurrency prices in the future
|
№ |
Factors and events
(link to source) |
Date of news | Description | Nature of impact | Type of impact |
| 1. | NYSE Owner ICE Has Been Working on bitcoin Trading Platform [source: ] | May 9, 2018 | Intercontinental Exchange, the largest futures market operator, is developing an online platform for trading in cryptocurrencies. | Market ⇑
|
Favorable |
| 2. | Crypto Market is Down as Korea’s Largest Crypto Exchange Upbit Raided by Authorities [source: ] | May 11, 2018 | According to media reports, the office of Upbit is being raided, and a team from the prosecutor’s office has seized hard drives and accounting books. The accusers assert that the company transferred money from user accounts to the accounts of Upbit management. | Market ⇓
|
Unfavorable |
1.2 Market trends
The weekly cryptocurrency and digital asset market trends from December 31, 2017, to May 13, 2018, are presented as graphs (Fig. 1.1-1.5).
Table 1.7. Legends and descriptions of the graphs
| Global Figures | Figure** | Description |
| Total cryptocurrency market capitalization, USD million | Fig. 1.1 | This figure shows cryptocurrency and digital asset market capitalization trends from December 31, 2017. |
| The rate of market change (as a % to the beginning of 2017) | Fig. 1.1 | This figure shows the % change in cryptocurrency and digital asset market capitalization compared to December 31, 2017. |
| Change in the market capitalization (in USD million compared to previous period) | Fig. 1.2 | This figure shows the weekly change in USD million (increase or decrease) in cryptocurrency and digital asset market capitalization from December 31, 2017. |
| The rate of market change (as a % compared to the previous period) | Fig. 1.2 | This figure shows the % of weekly change (increase or decrease) in cryptocurrency and digital asset market capitalization from December 31, 2017. |
| Number of cryptocurrencies and digital assets | Fig. 1.3 | This figure shows the trends in the increase of the number of cryptocurrencies and digital assets circulating on cryptocurrency exchanges. On January 1, 2017, their number was 617, and as of May 13, 2018, this number had already reached 1,548 (coins and tokens on which there is information on capitalization and/or turnover were considered). |
| Average market capitalization, USD million | Fig. 1.3 | This figure reflects the growth in the average cryptocurrency and digital asset market capitalization from December 31, 2017, i.e. the ratio between the market capitalization of all cryptocurrencies and digital assets and their number. |
| Forecast of total cryptocurrency market capitalization | Fig. 1.4, 1.5 | This figure shows the time trend (forecast) change in cryptocurrency and digital asset market capitalization. |
* NB! Average daily data are given in the graphs below. For this reason, the figures in the graphs may differ from the data in Table 1.1, where all figures were calculated at 03:00 UTC.
These differences in the values may be significant during periods of high cryptocurrency market volatility.
Data source: coinmarketcap.com
Figure 1.1. Total cryptocurrency market capitalization*
* Average daily data (according to the data of coinmarketcap.com).
Figure 1.1 shows a graph of the weekly cryptocurrency market change from December 31, 2017, to May 13, 2018. Over this period, market capitalization dropped from $572.5 billion to $388.8 billion, i.e. by 32%. Last week (May 7-13, 2018) cryptocurrency market capitalization decreased from $460.8 billion to $388.8 billion (as of May 13, 2018, based on the average figures from coinmarketcap.com).
Figure 1.2. Change in market capitalization
The market is susceptible to sudden and drastic fluctuations. During the first week of January, market capitalization increased by approximately $250 billion, or 44%. The largest weekly fall in the first quarter of 2018 equaled $136 billion, or 23%, during the period from January 28-February 4, 2018.
Nine of the thirteen weeks in the first quarter of 2018 were “in the red”, i.e. capitalization fell based on the results of each of these weeks. In the second quarter, the market grew over the first five weeks. Last week (May 6-13) the market decline equaled $72 billion, or 16% (with due account of average daily data, see Fig. 1.2).
Figure 1.3. Number of cryptocurrencies and digital assets
Data source: coinmarketcap.com (coins and tokens on which there is information on capitalization and/or turnover were considered)
Since December 31, 2017, the total number of cryptocurrencies and digital assets considered when calculating market capitalization has increased from 1,335 to 1,548. Over the past week their number decreased by 20, from 1,568 to 1,548, and average capitalization equaled $251.1 million. In total, over the past month 94 new coins and tokens have appeared on coinmarketcap.com. However, it should be noted that a number of other coins and tokens were also excluded from the list. From among the tokens that were added last week, Aston, Skrumble Network, PolicyPal Network, MyToken and Docademic demonstrated high trading volumes.
Figures 1.4 and 1.5. Forecast of total cryptocurrency market capitalization
At the end of 2017, two exchanges (the Chicago Board Options Exchange () and the Chicago commodities exchange ) were the first to start trading in bitcoin futures. According to the information of , at the end of last week it became known that one of the largest global financial corporations, the Intercontinental Exchange (ICE), which is the parent company of the New York Stock Exchange (NYSE), is planning to develop a bitcoin trading platform for bitcoin Derivatives. This event could have a material impact on both the price of the dominant cryptocurrency and on the cryptocurrency market as a whole.
also published , citing the New York Times, that “begin using its own money to trade with clients in a variety of contracts linked to the price of bitcoin.” The bank will also start to seek the approval of the regulators for trading in bitcoin.
An expansion of the scope of trading in bitcoin futures could have a significant effect on its price, both favorable and unfavorable. On the one hand, an increase in the number of traditional exchanges (not cryptoexchanges) and the trading volume in futures on them will open more opportunities for an infusion of capital by major financial institutions, and could have an effect on the legal status of bitcoin and other cryptocurrencies in various countries.
These factors will encourage a growth in price. On the other hand, however, the introduction of bitcoin futures on major exchanges should be treated with care, as it gives plenty of room for market manipulation. If major traders begin to bet on a reduction in the bitcoin price and open contracts for billions of dollars, this could lead to increased volatility and/or the crash of the crypto market. In particular, bitcoin futures for the collapse of prices in December 2017. According to analysts of the San Francisco Federal Reserve, the rapid growth and subsequent fall in cryptocurrency prices “is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.”
Annex – Glossary
| Key terms | Definition |
| Market capitalization | Value of an asset calculated based on its current market (exchange) price. This is used to assess the total aggregate value of market instruments, players, and markets. [Source: ]. |
| Cryptocurrency market capitalization | The market value of an individual coin or token circulating on the market. |
| Total cryptocurrency market capitalization | The market capitalization of cryptocurrencies and digital assets, i.e. the aggregate market value of cryptocurrencies and digital assets (coins and tokens) circulating on the market. |
| Dominance | Market share, i.e. the ratio of market capitalization of a particular cryptocurrency (coin, token) to total cryptocurrency market capitalization. Expressed as a %. |
| Not Mineable
|
A coin that is not mineable. The term is used for cryptocurrencies (coins, tokens) which cannot be mined or issued through mining. |
| Pre-mined | A pre-mined coin. The term is used for cryptocurrencies (coins, tokens) which are issued through mining, and a certain number of coins (tokens) have been created and distributed among certain users at the start of the project. |
| The rate of market increase (as a % compared to the beginning of the year) | The rate of market increase (as a % compared to the start of the year), i.e. by how many % points did market capitalization increase compared to the start of the year. |
| The growth rate of the market (as a % to the beginning of the year) | The rate of market growth (as a % compared to the start of the year), i.e. by how many times did market capitalization grow compared to the start of the year. |
| Increase in market capitalization (in USD million compared to the previous period) | Increase in cryptocurrency and digital asset market capitalization (in USD million compared to the previous period), i.e. by how many USD million did market capitalization increase over the period. |
| The rate of market increase (as a % compared to the previous period) | The rate of market increase (as a % compared to the previous period), i.e. by how many % points did market capitalization increase over the period. |
| The market growth rate (as a % compared to the previous period) | The market growth rate (as a % compared to the previous period), i.e. by how many times did market capitalization grow compared to the previous period. |
| Number of cryptocurrencies and digital assets | Number of cryptocurrencies and digital assets. At the beginning of 2018 over 1,300 cryptocurrencies and digital assets (coins and tokens) were circulating on the market. |
| Average market capitalization | Average market capitalization, i.e. the ratio of the market capitalization of all cryptocurrencies and digital assets to their number. |
| ZAK-n Crypto index | The index is calculated as a percentage and represents a ratio between the trading volume (transactions) on cryptocurrency exchanges per day (Volume 24h) for n dominant cryptocurrencies to their total market capitalization.
ZAK-4 Crypto index calculations include four dominant cryptocurrencies with the greatest market capitalization: bitcoin, Ethereum, bitcoin Cash, and Ripple. ZAK-8 Crypto index calculations include the trading volume and market capitalization for eight cryptocurrencies. |
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