01/04/18 Market Review 2018-04-28T21:24:25+00:00

01/04/18 Market Review

Project Description

A collection of notes about what happened over the last three days in the crypto and ICO world. I find it useful for anyone wanting to keep its finger on the market’s pulse for the first review of the year.

This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

In the news

FCT: Factom // XVG: Verge // TRX: Tron // XLM: Stellar // XRP : Ripple // MONA : Monacoin

December ICOs in review:

December marks another strong month for ICOs as gains made in leading cryptos are trickling down to new projects.

SIRIN Labs becomes the 4th most successful ICO in history raising $157m with an average ticket above the $10k mark.

SIRIN is behind Finney, the first open source secure smartphone running on a fee less blockchain. Keep an eye on their SRN token.

Another big ICO was Bankex, raising $70m to build a platform for asset tokenization around a Proof of Asset Protocol.

Other successful ICOs include Nebulas $60m, Blockstack $52m and Naga Group $50m. We can expect to hear a lot more about Blockstack in the near future.

Monday Tokens:

Top gainer

FCT was the clear winner at +41.75%. Some might say that it is one of the most undervalued token out there.

What’s not to like about a well designed blockchain for securing large amount of data in a cost efficient way?

FCT dual token system should allow for compliant enterprise integration, the token mechanics are compelling and it’s backed by the Gates Foundation.

Top looser

XVG recorded a 22.88% drop amid rumors of an XVG Whale being blackmailed by John McAfee for $1.1m in exchange for publicity.

Beyond the drama, XVG is an interesting attempt at answering to the question: does a store of value needs means of payment features?

Tuesday — Tokens

Top gainer

TRX continued its rise, at 2,620% it’s beating XRP’s monthly performance. Speaking of which, TRX’s founder, Forbes 30 under 30 Justin Sun was also an XRP chief rep.

STEEM was also on the rise at +42.94%. Tuesday was a day for those invested in distributed media. Power to the content providers!

Top looser

XVG continued its fall by -10.28%, this time after being accused of leaking users IP addresses.

FCT dropped abruptly after Monday’s McAfee’s recommandation and pump. If that’s how long the McAfee effect lasts, not sure it’s worth the bribe.

Wednesday — Tokens

Top gainer

XLM jumped 58.05%. Originally an XRP fork, both coins have a lot in common. That includes how polarizing XLM is.

Fun facts, XLM received a loan from Stripe for $3m in exchange for tokens. That’s $1.7bn at current price. But be reassured, these are locked until 2019.

Top loser

MONA lost 5.87%. The Japanese crypto, traded mostly among the manga and gamer community, had boomed in December after listing on 4 Japanese exchanges.

Road to fiat and volume matters but the effects doesn’t seem to last long. Better to have a large community.

Misc.

BTC was at its lowest point relative to total crypto market cap. Is that a buying signal? Truth is, beware of market caps.

They are often calculated as tokens outstanding x current price. However, some coins might not be available for trade.

Notorious projects with significant amount of coins locked-up include DASH, STEEM and the now defunct Auroracoin.

Conclusion, some market caps are much lower then advertised.
Also, it was Bitcoin’s anniversary on Wednesday. 9 years and counting. So happy anniversary!

#Factom #FCT #Verge #XVG #Tron #TRX #Stellar #XLM #Ripple #XRP #Monacoin #MONA #Altcoins #Cryptocurrencies

 

Hope you liked the First review of the year!

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This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.

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