BTC/USD
Bitcoin fell $100 from its value on November 8, losing all gains from the previous two days and closing the day at $6,474. The $6,600 level was too much for the bulls. BTC/USD fell to the next support $6400.
The US Securities and Exchange Commission (SEC) took tough action against the EtherDelta exchange due to the lack of registration as a national exchange valuable papers, despite the offer to buy and sell assets, on secondary market. Zachary Coburn, who is the founder of the platform, did not confirm or reject the claims, but agreed to pay the fine. This news is significant as it marks the first enforcement action by the SEC against a cryptocurrency exchange.
In addition, the Commission is reportedly planning to publish "simple" recommendations for developers. SEC director William Hinman explained that "the idea is to create a simple tool that people can look at and understand." There is already an ICO section in an official government agency that entrepreneurs can use: https://www.sec.gov/ICO.
federal body The German Financial Supervisory Authority (BaFin) has issued a warning to the crypto company Crypto-Capitals regarding its unregulated activities in Germany. According to the institution, Crypto-Capitals endangers the investor's capital by not complying financial legislation. This is not the first time the regulator has warned the public to be more careful when trading crypto products. Last November, he advised consumers on ICO issues.
The price of Bitcoin on Friday, November 9, fell even lower and closed the working week just above the $6,400 mark (at $6,417). Looking at this picture, we see that BTC has been in the $6,200 to $6,800 price range since September 9, with volatility at its lowest level this year.
The most popular cryptocurrency is up 0.2% through Nov 10 and 0.26% higher on Nov 11 to close the week at $6.447 or -0.67% over a 7-day period.
ETH/USD
The price followed the movement of Bitcoin and fell by 3.2% to $212 on November 8th. ETH/USD lost another dollar on November 9th and closed the week at $211, still above the critical levels of $215 and $220.
There haven't been many developments on the ETH front over the past few days. Ethereum co-founder and Consensys founder Joe Lubin shared his thoughts on blockchain development with the German media that Blockchain will take a little longer than the Web because it is “much more difficult.”
“allow people to create more things that will be useful in the future. This is how the network develops. The integration will probably take a little longer because it is much more complicated. Also, as we work on topics like digital money, Blockchain is permeating society more than the Internet. Everything will be connected to the web in Web3,” he added.
The most popular altcoin fell to $213 and remained at the same level on November 11th. It ended the week with a marginal decline of less than half a percent.
ETH/USD began to show signs of an imminent downward correction on November 12 and November 13, dropping to $209, but it was on Wednesday, November 14 that most of the top 100 coins posted double digit losses. Ethereum followed the market and lost about 11% of its value, breaking through the critical support at $200 to reach $187.
On November 15, it is at the level of $183. The last time we saw the price below this level was on September 12, 2018, but ETH has not closed a daily chart candle below this level since July 2017, so everyone is looking at Ethereum.
Market Cap
Since the beginning of the month, the capitalization of the cryptocurrency market has been steadily growing, reaching its first obstacle (a quarter of the height of the ascending channel), after which a small but expected pullback began.
At the moment, the price is being held back by fibonacci 0.38, but a slight downward movement, and the cap will drop to the region of 210 billion. In the end, I still expect growth to the region of 230, fixing above and continuing to increase capitalization.
BTC
The main cryptocurrency of the market again sets the tone for all coins.
During the first days of November, the price gradually rose upwards, but the growth does not happen endlessly, and, having formed a divergence, the price started to correct.
At the moment, we stopped at the trend line, which will decide the further direction.
On the one hand, we have convergence that will only intensify as it goes down, its recovery will help the price return to the 6500 CME zone, where, by the way, there was an unclosed gap after the current fall.
On the other hand, don't forget about the open gap at 6100 CME. In my opinion, the possibility of closing it is extremely small, and if this scenario is realized, it should be used as excellent opportunity place buy orders.
Targets remain the same 6700-6800 as the beginning of the uptrend.
XLM
I really like stellar in the context of the whole year. If we look at the graph to the cue ball, then the lumens were able to resist the general negative trend, and consolidated throughout the year in a wide flat, slowly narrowing the boundaries.
We, with VIP channel subscribers, have already bought stellar, but I would like to consider more global goals.
The first resistance will be the 4300-4450 zone, where, as it seems to me, a narrow consolidation will continue. Then it will be possible to talk about exiting the flat, where the main targets will be the levels of 5000 and 6000 satoshi. The coin has a very serious fundamental and I advise you to buy it for the long term.
NEO
Another interesting coin is NEO. The project is on the 15th place in terms of capitalization on the coinmarketcap website.
After a slight increase, Neo, together with the entire market, began a correction, in which the indicators managed to go down from the overbought zone, while the MACD and RSI, meanwhile, are talking about convergence. In the near future, I expect a good movement on the coin, you can catch about 10%. The first target is in the region of 2650-2700. In the medium term, you can keep above 3000 satoshi.
Thanks for reading the review. All profit!
Remember the Nash equilibrium, Gresham's law, the Stasi rules? So the banking system is similar to the Stasi. But first about something else. Why did cryptocurrency become a currency at all?
A Nobel laureate in economics would answer you something like this: “At some point in time, the market fell into a Nash equilibrium, where everyone suddenly agreed that it was normal to consider it a currency.”
Why do men wear trousers and women wear skirts? Although in Scotland it was once not so. Just at some point, everyone agreed that it should be so. Nash equilibrium.
In general... What is a currency?
Currency is a medium of indirect exchange. Once upon a time, pheasant feathers were a medium of exchange, which before that were worth nothing. But then there was a demand for feathers and people said: "The feather will be a currency, a means of indirect exchange." Gradually formed General requirements to the currency: it should be easy to divide it into parts, while its value does not change; it is easy to carry; and she should have long term storage.
Well, and most importantly, people should be ready to use the currency as a medium of exchange. The same thing happened with cryptocurrency: people became READY to use it.
Here I am right now ready to exchange my phone for cue ball. It is clear that the cryptocurrency meets all other criteria, perhaps even better than any other fiat currency (it is much easier to store, transfer, share, and it is eternal).
Why did cryptocurrency appear?
One of the main reasons, in my opinion, is the huge anger of people at the banking system with all its rules, which are promoted under the auspices of the mythical fight against scammers and other villains. So, the current banking system is like the Stasi, to which I have to explain why I walk this way and not another, and why I go to work this route and not another. And then, will two-meter fences stop real criminals? When criminals need to break into the banking system, they simply buy a bank.
All these security rules are essentially useless. Therefore, there is a global irritation of people with the banking system. This can be seen everywhere - and in businesses of any size, too, from small to large.
Annoyance created a request for some kind of analogue to the current system. Cryptocurrency has arrived. And the process can no longer be stopped - cryptocurrency will take its place in the global economy. What is the question.
The problem is that in fact, cryptocurrency today is not exactly used as a medium of exchange. The phenomenon is called Gresham's law: when no one wants to pay with a currency that constantly and strongly rises in price. Everyone knows the story of two pizzas that were bought for 10,000 BTC in 2010.
Who wants a $15 million pizza? Or would you want to drive in a Toyota car you bought today for 30 BTC, only to find out a year later that you paid $3 million for it? Therefore, cryptocurrency is used as a means of accumulation and speculation.
At the same time, the process of continuous growth leads to the fact that the base cryptocurrencies lose their properties as a means of payment - stability. They turn into a kind of shares of a rapidly growing company. And who wants to sell or exchange for goods and services rising in price stocks today, if tomorrow they will cost more. This is problem.
stablecoins
The volatility of cryptocurrencies is the subject of long-standing discussions, in which one can often hear the words “bubble” and “speculative tool”. The problem is solved, among other things, by launching special settlement cryptocurrencies, the so-called stablecoins, “stablecoins”. This is a cryptocurrency whose value is determined not only by the demand for it, but also by more established methods.
There have been several attempts in the world to create such stablecoins. As a rule, they were tied either to the value of fiat currencies - the dollar, the euro - or to raw materials (commodities) - oil, gold, and so on. But for various reasons, they are not widely used.
First of all, because the creators of such currencies violated the blockchain principle - distribution and independence. They issued cryptocurrency, sold it, and bought collateral with the proceeds. And the fact that the collateral was stored and controlled by the release organizers did not inspire confidence in the community.
Now there are more advanced projects. In general, there is a hypothesis that the future lies with “stablecoins” tied to commodities.
It is based on the fact that in society in general and in the economy in particular, the so-called fatigue of the classic fiat money material has appeared. At the same time, we see that the same dollar, euro, yuan, Brazilian real and all other classical currencies are also subject to volatility. And all this against the backdrop of a global appreciation of money.
The economy is looking for alternatives. But will the social demand for blockchain commodities be critically higher than for classic money? Not sure. But the fact that it will be more than now is most likely.
There are several interesting stablecoin projects in the world right now:
- There is a project Tether, which is consistently in the TOP-50 in terms of capitalization (now - just over $300 million). Tether is a dollar coin, 1 to 1.
- A startup has been launched in Israel that is trying to make oil-pegged cryptocurrency. True, they are not very successful yet, because they cannot solve the problem of storing oil - it is difficult to store it.
- There are projects that are trying to tie cryptocurrency to computing power, to electricity, such as SONM.
Of course, real estate has great potential. All developers - both in the US and in Russia - are trying to fit into the blockchain world. In Switzerland, Singapore and other countries, it was allowed to keep a real estate registry using the blockchain. I am waiting for the next breakthrough - the binding of cryptocurrency to square meters.
Agree, it would be great if a grandmother from Perm could use blockchain to invest part of her pension in a business center under construction in Saratov, without the risk that her investments will be stolen.
Our fund now leads just one client from the real estate sector. We help him prepare for the ICO. This is a multi-million dollar business. I do not want to go into details because I do not want our client to be taken away by competitors. Currently, a legal scheme is being finalized on how blockchain technologies can be used in terms of debt financing for classic companies (in our case, this is a developer), and for this process to be regulated by the Russian authorities.
You can easily explain to your mom about being tied to gold
But I haven't talked about the main (yet) and most obvious commodity - gold. Gold is a commodity that everyone understands. Gold occupies approximately 5-10% of the global investment market. Gold is naturally limited natural resource. According to open data, the gold reserves of governments are about 30 thousand tons, citizens have the same number of products, coins and ingots. Total about 60 thousand tons. About 3 thousand tons of gold are mined annually in the world.
All this makes gold the ideal equivalent of calculation. In fact, this has been the case throughout the history of human development. Even early money was pegged to gold until governments decided to replace the process of extracting gold with the simpler process of printing paper money.
And most importantly: you can easily explain to your mother about the cryptocurrency pegged to gold. And she will understand you.
Now there are several "golden" crypto projects. There are not many of them, but they all have a different concept:
- Impressive project OneGram from Dubai, which plans to raise $500 million in an ICO that began on May 27 and is due to end on September 24. To date, 22% of 12,400,786 tokens have been sold, which are sold at $43.18 each. "Dubai" and "gold" sounds somehow impressive, agree. OneGram is pegged to stored physical gold. They have a rather strange, in my opinion, feature: they position themselves as a project specifically for Muslims. In the blockchain world, any artificial limitation raises questions because it contradicts the very concept of technology. True, according to the founders themselves, now the majority of the project's investors are not Muslims.
- There is also project of the British Royal Mint Royal Mint Gold, in which one token is pegged to one gram of gold. The project raises questions in terms of decentralization.
- Another ambitious project US-Australian OZCoin. It is backed by 100 thousand ounces (slightly more than 2.8 tons) of 24 carat gold.
- For me, the most interesting of the "golden" projects is "Russian" Goldmint. I put "Russian" in quotation marks, because an international team works there, and it is interesting for me for two reasons. First, he is from Russia (which is great). Secondly, we invested in it :) The project plans to hold an ICO in September, and in May it held a pre-ICO and raised $600 thousand in a couple of days. We have a piece of paper hanging in our office, which says that so many Goldmint tokens belong to everyone the DTI team.
Our investment logic is simple. Imagine that there is a bar of gold that can be transported quickly and at no cost to anywhere in the world and has the property of being impossible to steal. How much more expensive is such an ingot than a classic ingot? Obviously much more expensive. Of course, there are a lot of other risks, the project may not take off, but, according to at least, we had the opportunity to get to know and study the team.
Usually verification of the team removes 9/10 of the risk - the probability of a "scam" or some kind of illegal actions is equated to zero. I have always said that the Whitepaper, the business plan in the ICO world is secondary to the team. It doesn't matter what you do, it matters who you are. If Elon Musk raises cows tomorrow, they will believe in his project. The only business risk left is whether the project will take off or fail.
Goldmint is made by the team of the Lot-Gold project, which in a year of existence was able to grow from zero to 5.5 billion rubles. revenue. We made sure that they were able to make a good classic business, now they want to turn the gold market around. It will turn out or not - it is difficult to say in advance. The project is complex, including from the point of view. The company is developing a special proof-of-gold box - a safe with a gold verification system, permanently connected to the Internet. It is understood that such devices can be installed in banks, pawnshops, jewelry stores (it remains only to convince of this).
The safe will evaluate gold items, and special software will make it possible to issue GoldCoin in real time. A person can come to the bank, put a piece of jewelry in this safe, it automatically evaluates the metal, identifies the individual, and then issues GoldCoin. The value of GoldCoin is pegged to the value of gold on the New York, UK or China exchanges. It sounds promising.
Overview of TOP-15 cryptocurrencies
Now about cryptocurrencies in general. On the Internet, you can easily find sites where you can see the capitalization of each cryptocurrency that circulates on the crypto exchange, its current price in dollars, a schedule of price changes, the amount of currency circulating on the market. Such statistics will help little to understand, but will give at least a general idea of \u200b\u200bwhat is happening.
I will briefly talk about several cryptocurrencies included in the TOP-50 by capitalization: what are their essence, advantages and disadvantages. And despite the fact that I have invested money in many of them, I will not give any specific investment advice here.
1.Bitcoin
A real-world analogy is gold.
I will talk about bitcoin in more detail than about other cryptocurrencies, because in the crypto industry, bitcoin has become the standard by birthright. In other words, this currency appeared first on the market, and therefore occupies (so far) the first place in terms of popularity, capitalization and exchange rate against the dollar. All other currencies that appeared later began to be called altcoins, and bitcoin is still the benchmark from which everyone is repelled.
Bitcoin is a cryptocurrency that can only be sent, received and stored. At the same time, it has many disadvantages inherent in the architecture itself: it is slow, difficult to scale, requires a lot of power for mining, a lot of storage space, transactions are expensive, and cryptography can be hacked if desired.
Here are some more cons:
- Bitcoin is slow- means that transactions in bitcoin occur once every 10 minutes. To confirm the transaction, you need to mine, and this is a very energy-intensive process. To increase the number of users (scalability), it is necessary that the computing power of computers grow.
- For the operation of the bitcoin network need to store huge amounts of information.
- bitcoin turned out to be not so decentralized system as announced at the very beginning. Theoretically, miners can form huge pools and manage the network.
- The maximum number of bitcoins that can be issued is 21 million. To date, 16.75 million have already been mined. What will happen when the total volume reaches the limit? Obviously, there will be a so-called hard fork, when the decision is made to create new version bitcoin networks. This means a big vote, if you will, a referendum among bitcoin holders. Chinese holders of the cryptocurrency advocated that such a referendum be held as early as September. After it, perhaps, the "constitution" of bitcoin will change. And we know how constitutions easily and fairly quickly change in different countries Oh….
Most likely, as a result of the hard fork, the cost of the transaction will be reduced several times, because its verification will be simplified. The restriction regarding mining will also change. Perhaps it will be removed altogether. But there are still too many unknowns. And most importantly, there are other currencies that are technically more advanced. For now, bitcoin remains the gold standard of the cryptocurrency world.
Will the situation ever change? I'll ask a counter question: is it possible to write a social network better than Facebook? Definitely. The simplest thing remains - to force 2 billion users to switch to this new social network. Is it possible to write a cryptocurrency better than bitcoin? The fourth position in terms of capitalization - Litecoin - is better in all respects. It appeared almost simultaneously with bitcoin, but still a little later.
Bitcoin in the world of cryptocurrencies is a kind of analogue of the classic store of value, to which everyone is already accustomed.
2. Ethereum
A real-world analogy is the new Microsoft or the new Amazon.
Ethereum is starting to crowd out bitcoin in terms of popularity. Perhaps this currency has more prospects. If bitcoin can only act as a means of exchange and storage, then Ethereum has a number of advantages. The main thing is the ability to create. Now this platform is the most popular in the world in building a blockchain economy, and is used in numerous ICOs.
Ethereum inherited almost all the ills of bitcoin. Yes, it's faster - it updates every 10 seconds (that is, 60 times faster), but it has the same problems with scaling (the recent case with SONM is an example of this), power consumption and storage.
It may well challenge the leadership of bitcoin in the near future.
3.Ripple
A real-world analogy is the new VISA.
The project team is trying to make a new payment system so that it can be used to make payments in all currencies. The advantage of this currency is that banks use it. However, it is not decentralized. Coins are not mined, that is, their number does not increase. Ripple has a huge speed advantage over BTC and ETH, but the transactions are not as transparent. For classical banking system this is normal - anonymity was never welcomed there.
4. Litecoin
A real-world analogy is platinum, which is cheaper than gold.
The absolute analogue of the "beat". Faster, cooler in all respects - but it just turned out to be second. It is worth buying in terms of diversifying investments in the same bitcoin. But in terms of innovation, there is nothing there.
5. Ethereum Classic
A real-world analogy is Alibaba (not Amazon).
Alibaba is the largest online retailer with a multi-billion dollar turnover. But still they understand that it is still not as cool as Amazon. Classic may even be more expensive than regular Ethereum, but there are some nuances. ETC appeared after the hard fork of Ethereum, which took place last fall, and still does not inspire confidence in the crypto community. The main focus is still on ETH, and all significant projects are being conducted on this platform.
6. Dash and NEM
An analogy from the real world is “it is not clear who”.
To be honest, I don't come across these currencies very often. NEM mainly circulates in Japan, where it is officially allowed to buy and sell goods with cryptocurrency. The number of coins is always one less than 9 billion, additional issue is not provided, so there is no mining here, but there is a so-called harvesting.
A major jump in the NEM price occurred in May, when the Mijin closed platform was created on the basis of NEM, through which Japanese banks can conduct secure transactions. NEM is built following the example of Bitcoin, but there are no fundamental differences in architecture.
Dash is a cryptocurrency whose transactions are completely anonymized. Many talk about this as an advantage, but consider why ordinary person complete anonymity in transactions? Also, all decisions about changes in the “constitution” are made by means of a general vote, that is, the Dash network is completely decentralized.
Naturally, both currencies work faster than bitcoin and have a number of software advantages.
7.IOTA
A real-world analogy is the new Google.
A real innovation in the world of cryptocurrency. Offers fundamentally new paradigm which can change everything. IOTA is also called the “cryptocurrency of the Internet of Things”. It appeared five years ago, but it has just become popular. As soon as I entered the exchange, I immediately broke into the Top 10 cryptocurrencies.
What is innovative about it? The very principle of operation. IOTA is built on the principle of the web and is infinitely scalable.
How does bitcoin work? In order to make a bitcoin transaction, the miner must do some work to confirm the transaction. Spend time, a huge amount of energy and allocate storage space. In the case of IOTA, you can independently confirm the transaction using your device - for example, a regular phone. Your smartphone confirms two other people's transactions. Those transactions confirm two of yours. Etc. The more users, the faster and better the network works.
Now IOTA users have reached a critical mass and the currency has become very popular. There is no scalability limit here, miners are not needed, because transactions are free. You do not need to pay a commission to miners, you do not waste computing power.
In general, this is a real bomb that threatens to make a revolution. IOTA solves in general all the problems inherent in bitcoin (limitedness, high requirements for computing power, pseudo-decentralization, data growth and storage problem, slow speed).
8 Monero
An analogy from the real world - AFK Sistema.
In short, unlike Bitcoin, Monero is not limited in supply, but transactions take up several times more space than Bitcoin. But this is not the most interesting. Russian ears stick out here. In general, inexpensive transactions, good transfer speed, good mining. But you have to be careful - some kind of AFK Sistema can happen to them ...
9. EOS
Real world analogy - Empire State building.
EOS is the evolution of the BitShares and Steemit currency (which, by the way, were seriously criticized, which does not prevent BitShares from being close to the top 10 in terms of capitalization). It is based on a breakthrough technology that can be compared with the advent of blockchain. In theory, they can replace Ethereum or enter into synergy with it.
In terms of technology, the project is better than Ethereum. The developers have created a new language, and now an operating system is being created on the EOS platform, on which it will already be possible to build individual applications.
The logic is this: all databases, all web programming will be transferred to the blockchain. New technologies will allow different applications to run asynchronously, which will significantly increase the speed of the EOS-based OS.
The team expects that the whole world will eventually work on EOS. In general, to be honest, this is already the world of "Crypt 3.0", which even for me is too much. Too big and incredible. But this may well happen in five years.
10. BitShares
An analogy from the real world - I didn’t come up with it :)
The bottom line is that here the value of any fiat currency is replicated in the blockchain. A useful tool not to lose on conversion, not to depend on the laws of different countries, taxes, etc. There is also a similar currency, Tether, which is pegged to the dollar 1 to 1.
It is used as a currency for collecting fees on fiat currency transactions. It can be speculated. But if we want to operate with fiat money in the blockchain, then we can do it inside the BitShares system).
And 5 more cryptocurrencies from the top 50
1 Waves
An analogy from the real world is the Russian Tesla.
In fact, this is a platform for crowdfunding. Serious claims, aggressive marketing. But they can turn the wrong way and “chichvarkin” will happen.
2. Dogecoin
Real world analogy - question...
I don't know much about them, but I like them because my Google friends buy them. And that's why I buy them too.
3.Bancor
A real-world analogy is the stock exchange.
At its core, this is an exchange: a platform on Ethereum on which you can exchange different cryptotokens (but all of them must be of the ERC20 standard - this is the most common Ethereum standard on which most projects are developed). Everything is regulated by smart contracts. This is new economic instrument in the blockchain world. In essence, they brought derivatives to the blockchain in a way that no one had done before. It seems to me that this is a niche product, which, however, can grow 5-10 times.
4 Decred
Real world analogy - McDonalds.
A good, fashionable currency, I see prospects in them. Fast, cheap in transactions, profitable in mining. The miners love it - in other words, the market providers love it. And like McDonald's, it doesn't belong to anyone. 99.9% of McDonald's shares are listed on the stock exchange, but the largest shareholder owns only 2% of the shares. That is, the possibility that something bad will be done with Decred, that there will be some kind of collusion, is extremely small. Decred like McDonalds.
5. Aragon
Real world analogy - Netflix.
Fantastic project. And by “fantastic” I don’t mean “cool”, but the original meaning of the word. The business model is incomprehensible, but the team is good. They are trying to work in the event prediction market.
For example, I can say that in 2018 Vladimir Putin will lose the presidential election (ahem). And I am ready to trade this forecast for some amount. Let's say a dollar. No, for the ruble. And you can join me...
While the project is in the alpha stage and no one brings real money there, but the team really knows how to correctly analyze the data. Aragon could become a crypto Netflix. How they do it, I have no idea. But let me just remind you that Netflix has been unprofitable for 7 years.
And the current year 2018 is designated as a turning point. Many significant events have already taken place this year, directly or indirectly affecting the bitcoin rate, the results of online trading on exchanges, and the profitability of mining. Cryptocurrency market overview for today given by experts based on a variety of information, including insider information, which can be accessed. In general, the analysis does not carry a negative message, which already proves the prospects of the cryptocurrency sphere. However, it cannot be called exceptionally rosy.
Why you need an overview of the cryptocurrency market
It should be noted that the analysis and review of the cryptocurrency market is carried out for a practical purpose: the data obtained helps to reduce the risks of investors. Making mindlessly large investments in one type of digital asset is extremely short-sighted.
general review
Turning to a general overview of the cryptocurrency market, it should be said that in 2018 it still borders little on the world market. financial sphere. There are certainly points of intersection, but digital money is still extremely limited in terms of use, especially in comparison with fiat.
- On the one hand, this is good: virtual assets do not carry systemic risks, which means that their behavior does not threaten the economy in any way.
- On the other hand, it’s bad: cryptocurrencies exist on their own, remaining an abstract object that contains little objective value.
- Within the cryptocurrency sphere itself, in 2018 there were various perturbations, which caused it to periodically “fever”, and the quotes of the main assets fell sharply.
For example, several hacker attacks on major exchanges were recorded, and a number of court cases related to fraud in the segment were covered in the media. digital money. Such incidents negatively affected the image of coins on the world stage. A positive factor can be considered reports from different countries that they officially allowed the circulation of virtual assets - in Japan, India, South Korea and etc.
In order to clearly understand, in order to obtain the greatest benefit, it is necessary to know about general situation on the market: sales leaders, aggregate capitalization, latest trending trends, etc.
As an illustrative example, it is worth giving a digest review of the cryptocurrency market for a week. The main news of the November seven-day week pleases with a variety of - both negative and positive - coloring. First, it is worth noting that the total market capitalization of digital coins for this period reached 219.5 billion USD. Secondly, Bitcoin once again tried to reach the autumn maximum of 7 thousand USD, set for it by experts, but failed, stopping at the level of 6.5 thousand USD. Ether added to 218 USD, Ripple rose to 0.53 USD. In general, there were no global changes in quotes in the Big Three, we need to wait for December. Thirdly, at the beginning of November, they announced the list of the most anticipated ICOs this month, which included Vidion, Winnest, eMusic, Borser projects.
Market news for the week
As for the loudest news of the week, it is worth highlighting a few of them. From the management of the popular Polonex exchange, a statement was received about the support of the new fork of Bitcoin Cash. It will be traded on this site along with the prototype.
There was a scandal with the Tether cryptocurrency: a banking partner was suspected of money laundering through the blockchain system.
One of the users accused the largest KuCoin exchange of malicious manipulation in the process of trading, which is associated with the inability of the resource to cope with an ever-increasing number of orders. But another platform - OKEx - became the owner of the title "Cryptocurrency Exchange of the Year".
Video: Trading volume
A cursory review of the cryptocurrency market showed that the first week of 2018, the assets decided not to rest.
Bitcoin has won back part of the December decline, is trading above 16 thousand dollars - far from the record of 20 thousand, but we can assume that the cryptocurrency has found fair price about 15.5 thousand on the market.
However, altcoins made the history of the review of the week - several coins made a good step, and the little-known Tron cryptocurrency soared above the others, hitting the TOP 10.
Cryptocurrency market overview: 1st-5th places
- Bitcoin added 26% and is trading at 16800 USD.
- XRP ranks second in terms of capitalization, overtaking ethereum by 16%. The ripple market review shows a 39% gain from $2.36 per coin on January 1st to $3.28 by Sunday. The network is supported by a partnership with American Express and Santander.
- Ethereum Overview - The cryptocurrency climbed to 1075.39, its all-time high in the market, before dropping for a bit of consolidation. Then it continued to gnaw through the level of a thousand and on Sunday it is trading above $1120. In just 7 days, Ethereum added 50% and with such dynamics, it can regain second place in the ranking. Ethereum is separated from the 2nd line by a market capitalization of 18 billion USD, and on Friday this figure was 22 billion.
- BCH was shy for a long time, but by Sunday decided to hit the road and by the end of the week it is trading above $3,000, adding 23%.
- An overview of cardano - the currency reached 1.27 from 0.72, then went into a correction. Now the rate is a beautiful figure of 1.01 USD per coin. Nevertheless, an absolute growth of 40% in 7 days is quite good - as in 4 years on bank deposit. The digital currency attracts investors with its scalability and excellent security.
Cryptocurrency market overview: 6th–10th places
- Litecoin added 33% in a week, the growth of this cryptocurrency is smooth, a slight acceleration took place only on Saturday.
- NEM review - the asset started the year at $0.95 per coin, reached the market maximum by the middle of the week - 2.05, then decreased slightly and traded at 1.82 on 01/07/18. As a result, the NEM cryptocurrency has almost doubled since the beginning of the year, adding 91%. NEM focuses on corporate clients, interested in peer-to-peer payments and money transfers in real time.
- Stellar review - currency met New Year at a rate of one third of USD per coin. Traded 3x higher on Wednesday and Thursday, ending the week at $0.7, more than doubling the market. Stellar is partnering with IBM to develop an international payment system.
- Iota from 3.44 smoothly reached the value of 4.04. Twice there were impulse steps to 4.15 and 4.38, after which the cryptocurrency quickly returned to the average values. A review of the growth of the asset reveals a more progressive rhythm than most others. With stable behavior in the market, iota resembles litecoin.
- The last review about tron, which took the tenth line of the TOP 10 cryptocurrencies, leaving behind the recognized favorites of the market - XLM, Dash and Monero. At the highs, tron even took the seventh line. Unfamiliar general public the asset jumped 630% in 3 days, then the quotes went into correction. The absolute increase in tron is 420%. The capitalization of this cryptocurrency has increased from 300 million USD to 1.6 billion.
The goal of the Tron system is to create a platform for monetizing digital entertainment using blockchain technology, and the price spurt was provoked by the founder of the Tron network, Justin Sun, who promised to soon announce a partnership with a very prestigious company.
Based on the results of the review, a picture is emerging when investors are actively distributing investments in different cryptocurrencies of the market. It can be assumed that bitcoin will remain in a sideways trend, as its rate is several orders of magnitude ahead of other digital currencies.
Do you think that the TOP 10 has changed for a long time or will new cryptocurrencies lose their places soon? Write about it in the comments to the article.
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