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Weekly Blockchain Industry Report [July 7-12,2018]

1. Market Overview

The past week’s daily average global market capitalization of cryptocurrency was $263.67 billion and the daily average transaction volume was $12.82 billion, indicating a incline of 0.5% an decline of 11.4% respectively. The daily average market capitalization of the top five cryptocurrencies increased by 0.46% from the previous week. Among the top five – all of which decreased in price – EOS has experienced the greatest price decrease by 37.44% in the past week.

Data source:coinmarketcap

Of the top 10 cryptocurrencies that increased this week, 70% of the projects were of the vertical industrial application sector. Also, STX of gambling sector experienced the greatest increase in price by 105.69%.

Ranking Project Token Field Brief description Trading amount24h Token price Increase/7d
1 Stox STX Gambling STX is a token used in its gambling ecosystem. $4.62M $0.4158 105.69%
2 Sumokoin SUMO Cryptocurrency and payment SUMO is a digital currency used for confidential transactions. $484K $1.05 93.4%
3 LOClcoin LOCI Autonomous Organization LOCI  hopes to become a platform that is free and efficient for joint ventures, creativity, and talent. $107K $0.0691 88.78%
4 Metaverse ETP Basic chain and protocol ETP is a decentralized public chain project. $7.89M $1.37 77.36%
5 Aurora AOA Basic chain and protocol AOA is committed to becoming a blockchain project that links industries and promotes application. $363K $0.05 60.34%
6 Coversting COV Asset management The COV platform allows users to access the portfolio of other cryptocurrency traders. $143K $1.1 58.29%
7 KickCoin KICK Asset management KICK is the ecological token on the crowdfunding platform KIKICO. $2.73M $0.056 49.31%
8 Hydro HYDRO Corporate services HYDRO is committed to combining an efficient decentralized exchange alliance. $1.49M $0.009 45.94%
9 Bittwatt BWT IoT BWT is a distributed energy trading market. $50.6K $0.038 42.14%
10 Jiyo JIYO Payment JIYO is committed to providing a more convenient payment channel. $77.7K $0.032 42.14%

Data source:coinmarketcap;retrieved at 12:00 on July 13th, 2018

2. Analysis of Top 200 Market Cap Projects

The market capitalization of top 200 projects decreased by 6.83% compared with that of last week. Based on the main categories of cryptocurrency and payment, public chain and protocol, vertical chain and protocol, and vertical industrial application, the vertical industrial application sector decreased the most.

Data source: OK Blockchain Capital

Through further classification of the vertical chain and protocol and vertical industrial application verticals, it was found that this week’s corporate services vertical was on an obvious increase at a rate of 40.31%. Medical Insurance and AI verticals experienced the greatest decreases with a rate of 28.93% and 27.78% respectively.

Data source: OK Blockchain Capital

3. Analysis of Newly Listed Projects

There were 13 new projects in the market last week (mainly of the asset management vertical), 76.92% of which dropped in price within 24 hours of listing. Most of the newly issued tokens were listed on CoinBene and EthFinex.

New Projects Categories Ratio 

      

      New Projects Listed Exchanges Ratio            

Data source:Coinmarketcap、feixiaohao、OK Blockchain Capital analysis

Table of newly listed projects

Project Token Field Exchange Platform Initial Listed Price$ Current Price$ 24h Trading Volume$ Launch Date
Coni CONI Exchange platform token CoinBene 0.0947 0.1028 1.55M 7/7
Fanstime FTI Entertainment HADAX 0.01 0.0068 544K 7/7
Popchain cash PCH Content copyright Bit-Z、LBank、CoinBene 0.0358 0.0318 739K 7/7
Seer SEER Gambling OTCBTC、QBTC、

Ethfinex、Lbank

0.0089 0.0060 664K 7/7
Essentia ESS Basic chain and protocol Ethfinex、IDEX、CoinBene 0.0555 0.0224 132K 7/7
Karatgold Coin KBC Stable coin CoinBene、HitBTC、YoBit 0.0084 0.0091 285K 7/7
HashCoin HSC Asset management Gate.io、BCEX 0.0025 0.0023 908K 7/10
LikeCoin LIKE Content copyright Qryptos、IDEX 0.0089 0.0077 68K 7/11
Ors Group ORS Payment Ethfinex 0.0479 0.0456 48K 7/11
SnowGem XSG Asset management Mercatox 0.1257 0.1902 21K 7/11
DaTa eXchange DTX Data services BitForex、CoinFalcon 0.0283 0.0278 22.5M 7/12
BeeKan BKBT Asset management HADAX、CoinTiger 0.007 0.0075 275K 7/12
Mossland MOC Payment BCEX、GOPAX 0.0688 0.061 209K 7/12

Data source:Coinmarketcap, Feixiaohao

4. Analysis of Closed Public Sales Projects

There have been 25 closed public sales projects this week, totaling nearly 143 million USD. Among these projects, projects of the payment field received most funding. This was closely followed by projects of the cryptocurrency and payment field.

Main categories of public sales project this week

Table  Closed public sales projects (July 7-13)

      Project      Token       Field             Platform Softcap/$10k
KIMBU ETF Tokens ETF Asset management Ethereum 200
EASY WORK WORK E-commerce Ethereum 16
PerfectChain Network PNN Game Ethereum 400
ZNC Token ZNC E-commerce Ethereum 100
Crowdif CIF Payment Ethereum 450
EkkBaz EKK E-commerce Ethereum 800
Tutellus TUT Education NEM 4000
Delphi Technologies DTT Transportation Ethereum 250
Goldma GMA Asset management Waves 600
Beyond Seen Screen BSS Content copyright Ethereum 100
Cryptfunder CPT Asset management Ethereum 250
Clears CLRS Notary certification Ethereum 1000
Zan Coin ZAN Payment Ethereum 100
ORIS.Space ORGN Entertainment Ethereum 2000
Globitex GBX Payment Ethereum 1000
Open Source University EDU Education Ethereum 34
All-Stocks Network AST Payment Ethereum 200
Senno SNO AI NEO 200
InsCoin INS Insurance Ethereum 200
Rouge RGE Advertising Ethereum 1400
Moneto MNO Lending Ethereum 100
VVToken VVT Asset management Ethereum 610
TIM TIM Payment Ethereum 100
Plutus PLU Payment Ethereum 100
IonChain IONC Payment Ethereum 80

Main data sources: Icobench、 Foundico、 smith and crown、icodata、 icodrops、coinschedule、icoadvert
Secondary data sources:Project websites

5. Important News on Global Governmental Policies this Past Week

 6. Keeping Up with the Blockchain Giants

 7. Hot topic of the week: Is EOS Random-access memory (RAM) used for trading or for actual use?

  • “One day in the blockchain space is equivalent to a year out of the space.” The conversions of hot topics in the cryptocurrency market is always unpredictable. When most people are busy looking for high-performance public chains, exchange platform tokens suddenly became the new trend. When investors rushed into various small and medium-sized exchanges, Fcoin quietly rose to the top. When exchange platform mining became the new hot topic, it was taken over by EOS: EOS’ RAM.
  • RAM is a very important resource in the EOS network. Creating EOS accounts, creating EOS smart contracts, and performing EOS transfers will consume memory resources. The user needs to stake a certain amount of EOS to the system account in order to obtain the corresponding memory usage right. The stake price is determined by the market demand, and the user can also transfer the memory according to real-time price.
  • In order to keep the supernode running efficiently, EOS’s current total RAM is temporarily set at 64G. For the programmers who are developing on EOS, the purchase of RAM is needed, and the total amount has led to the temporary scarcity of RAM on EOS. A large number of speculators have gone forward and pushed the RAM price up to 0.93EOS/KB. Compared with 0.02EOS/KB on June 20, the increase is close to 50 times.
  • As the cryptocurrency market has been moving at a declining rate, this issue has attracted more negative speculators. The speculators are influencing the secondary market by trading and speculating about EOS’ RAM. Developers can only helplessly pay for the high costs. As of the release of the report, the RAM usage of EOS exceeds 80%, and the number of Dapp developers in use of RAM is less than 2%.
  • Analyst evaluation: EOS’ exclusion of handling fees and almost real-time arrival of transactions provides users a seamless experience. The increase in RAM price has also made profits for many early investors. However, as a project that has just lifted off, the excessive development costs have prevented the wide scale development of Dapps on EOS. As for the value of EOS’ RAM, the practical demand is of utmost importance. Without the demand for the practical needs for RAM, then investing in RAM is worthless. The speculative trading of EOS RAM is simply a temporary wave that may end badly without the support of ecosystem.

Want more report from OK Blockchain capital? See on medium!

Appendix

Table Upcoming Crowdfunding Project (July 14-20)

Project Token Public offering launch date Public offering close date Field Token Quantity Public offering percentage* Hard cap
AVINOC AVINOC 2018/7/14 2018/7/31 Tourism 1B 40% $15M
Health FX HFX 2018/7/14 2018/7/29 AI 2B 50% $38M
B21 B21 2018/7/14 2018/9/15 Asset management 1B 50% $29M
KSYS Token KSYS 2018/7/15 2018/9/31 Tourism 100M 32% $4.2M
Scienceroot ST 2018/7/15 2018/8/15 Payment 100M 30%
LAPO Blockchain LAX 2018/7/15 2018/8/1 Payment 10B 30% $500M
NOIZ NOIZ 2018/7/15 2018/8/15 AI 1B 50% $25M
KuBitX KBX 2018/7/16 2018/8/31 Payment 1B 50% $5M
NordCoin Mining NRDC 2018/7/16 2018/8/16 Asset management 15M 85% $1M
Accounting Blockchain TAB 2018/7/16 2018/9/30 Asset management 100B 22% $4M
Freldo FRECN 2018/7/16 2018/8/16 Corporate services 1B 60% $2M
Disciplina DSCP 2018/7/16 2018/7/19 Digital identity 100M 75% $3M
Fysical FYS 2018/7/16 2018/7/21 Data services 1B 40% $18M
EyeGlob EYE 2018/7/17 2018/8/7 Medical insurance 2B 50%
Tedchain Network TED 2018/7/17 2018/10/8 Game 2B 50% $3.5M
EIPlatform EMI 2018/7/18 2018/8/8 AI 100M 75% $60M
Inmediate DIT 2018/7/18 2018/7/22 Insurance 1B 40% $16M
Bitforex BF 2018/7/20 2018/7/25 Exchange platform token
MIBcoin MIB 2018/7/20 2018/8/10 Cryptocurrency and payment 1B 13%
Rewards Coin REW 2018/7/20 2018/8/11 Tourism 25M 70% $5M
ArtWook Coin AKC 2018/7/20 2018/8/1 Asset management
Sunxcoin XNS 2018/7/20 2018/8/31 Asset management 10M 50% $10M

*The ratio between public offering Token quantity and the total Token quantity of the project.
Main data sources Icobench, Foundico, smith and crown, icodata, icodrops, coinschedule, icoadvert
Supporting data source: websites of the projects

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Cryptocurrency Bull Tom Lee Pinpoints a Bitcoin Moon Boom

Right after Tuesday morning’s run-up, CNBC hosted a premier Bitcoin and cryptocurrency analyst to shine a light on why Bitcoin could see further moves to the upside.

Fundstrat Analyst Says Bitcoin Sitting 30% Under 200 Day MA is Positive

On Tuesday, Tom Lee, the head of research at Fundstrat Global Advisors, made an appearance on the CNBC’s ‘Fast Money’ segment following Bitcoin’s rapid run-up from $6,700 to $7,400.

Melissa Lee, a host of Fast Money introduced Lee, stating that he has two charts that could signal a “Bitcoin moon boom.”

Firstly, the Fundstrat analyst brought attention to Bitcoin’s 200-day moving average (200 MA), which currently sits around $10,500. At the time of presenting, Lee stated that Bitcoin is presently sitting at approximately 30% under the 200 MA.

While a move under a moving average, like the 50, 100 or 200-day, has historically been seen as a negative sign, Lee called Bitcoin’s current relation to the 200 MA a “pretty positive signal.”

Assuming that some viewers of the segment would be questionable, Lee went on to point out why this is actually a positive sign. The analyst stated:

“The reason it’s a positive signal is that this has happened a few times since 2009… Number one, Bitcoin bottomed within a month here (after hitting 30% under the 200 MA). But I think it tells us something even more important not in the next month. It’s tell us that if you look forward in the next six months you’re going to do well owning Bitcoin here.”

Lee later added:

“So to us, the message is when Bitcoin is trading 30% below its 200-day, its a huge bull signal… If you could ever buy Bitcoin 30% below its 200-day moving average, you almost always saw good risk (and) reward being long.”

Tom Lee: A Combination of Fundamentals and Technicals Indicate Bullish Stance

Not only does Lee believe that the aforementioned signal is bullish, but so are other technical and fundamental signals. As with any market, there often isn’t a single catalyst to attribute to a price gain or decline.

Speaking on technical signs, the Fundstrat analyst stated:

“Over the weekend, there were quite a lot of folks who were talking about TA and the potential formation of either an inverse head and shoulders or a Wyckoff buy off. So it sounds like the technicals were really starting to become more favorable.”

When queried about his opinions on the recent Mastercard news, that will see the payments firm obtain a patent intended to connect the fiat and crypto world, Lee noted:

“I think something like the Mastercard news is positive because it’s really validating the idea that digital money or blockchain-based money is a valid form of transactions.”

Lee has long been held as the face and representative of Bitcoin bulls, as he has continually called for Bitcoin to hit $25,000 come January 2019. And with these most recent statements, it has become clear that his stance on the cryptocurrency market remains bullish, despite the trials and tribulations that were seen as Bitcoin fell by over 60% since January 2018.

Featured image from Shutterstock.

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MasterCard Wins Patent to Increase Cryptocurrency Payment Speed

The U.S. Patent and Trademark Office officially granted MasterCard a patent for a method of increasing the speed of cryptocurrency transactions. 


The Need for Speed

Published July 17, the patent explains the serious need for increasing the speed of cryptocurrency transactions based on the growing demand for the same. The document reads:

In recent times, blockchain currencies have seen increased usage over traditional fiat currencies by consumers who value anonymity and security.

The patent also outlines a key issue associated with blockchain-based cryptocurrency transactions — namely, speed.

…it often takes a significant amount of time, around ten minutes, for a blockchain-based transaction to be processed, due to the computer processing time and resources required to verify and update the blockchain. Conversely, traditional fiat payment transactions that are processed using payment networks often have processing times that are measured in nanoseconds.

New Types of Accounts Could Potentially Come to Light

No products have been brought to the market according to MasterCard’s Senior Vice President for Communications, Seth Eisen, who spoke to CNBC. However, the abovementioned patent casts protection over a method which could supposedly speed up blockchain transactions, allowing cardholders to pay for goods with their digital currency.

In order to do this, the company would offer a new type of account which is capable of transacting in cryptocurrency through already existing systems for fiat. Said account would link a series of profiles which would be able to identify the amounts the user holds in fiat currency and cryptocurrency, as well as the account’s identifier and address. The transaction itself would be carried out using the rails of fiat currency while representing a cryptocurrency.

The news of the patent grant has been received positively by permabull Tom Lee, who said that “It’s really validating the idea that digital money, or blockchain-based money, is a valid form of transaction.”

It’s worth noting that this isn’t MasterCard’s first foray into blockchain-based technology. In May, the company filed another patent application for technology to speed-up blockchain node verification speed.

Do you think the new patent granted to MasterCard would help facilitate the adoption of cryptocurrency payments? Don’t hesitate to let us know in the comments below! 


Images courtesy of the Shutterstock, Pixabay.

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eToro Study Shows Cardano is One of the Most Promising Blockchain Projects

Cardano (ADA) seems to be one of the most important and promising projects in the cryptocurrency world according to a study presented by the trading platform eToro. The main point… Continue reading “eToro Study Shows Cardano is One of the Most Promising Blockchain Projects”

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Fed Chair: Cryptocurrencies Are ‘Great’ For Money Laundering

Jerome Powell, chairman of the U.S. Federal Reserve, had some harsh words for cryptocurrencies during an appearance before the U.S. Congress.

Speaking to the House Financial Services Committee, the head of U.S. central bank said Wednesday that cryptocurrencies have no “intrinsic value” and presented severe risks to investors, as CNBC reported. Part of his concerns seemingly stem from the apparent crypto bubble – he said that “relatively unsophisticated investors see the asset go up in price, and they think ‘this is great, I’ll buy this.’ In fact, there is no promise of that.”

He added:

“It’s not really a currency. We’re not looking at this as something that we should be doing … Mainly I have concerns. If you think about what currencies do, they’re supposed to be a means of payment and a store of value basically and cryptocurrencies are not used very much in payment … and in terms of the store of value, if you look at the volatility it’s just not there.”

“They are very challenging because cryptocurrencies are great if you’re trying to hide or launder money, we have to be very conscious of that,” he said.

That being said, though “there are investor and consumer protection issues,” Powell said the cryptocurrency market isn’t big enough to threaten financial stability, and therefore the Fed isn’t seeking to regulate it, according to Bloomberg.

Powell’s testimony comes hours before the Financial Services Committee is set to host another hearing directly focused on cryptocurrencies. As previously reported by CoinDesk, the committee hearing will hone in on the question of whether cryptocurrencies are a new form of money.

A memo published after the hearing was announced notably states that members will examine “the extent to which the U.S. government should consider cryptocurrencies as money and the potential domestic and global uses for cryptocurrencies.”

Powell image via Wikimedia Commons

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