Topic: [2017-09-27]Weekly Cryptocurrency and ICO Market Analysis [Sept 18-24, 2017] (Read 2361 times)

Over the first two weeks of September (September 3-10, 2017 and September 11-17, 2017), we observed the downward trend in the total cryptocurrency market capitalization, 15.13% and 11.33% respectively (see Table 1.1). Over the past week (September 18-24, 2017), the total market capitalization grew from $123.17 billion to $130.41 billion, gaining 5.88%. Over the period of September 17-24 Litecoin slid slightly, by 0.37%, and the rates of Bitcoin and Ethereum went up by 3.38% and 12.37% respectively.

Since the start of the month, the Bitcoin rate fluctuated from $4,975.04 (September 2, 2017) to $2,946.62 (September 15, 2017), i.e. over $2,000(Table 1.4). The wild currency rate fluctuations were associated with their increased trading volume at cryptocurrency exchanges. The highest trading volume at cryptocurrency exchanges was observed on September 2 and 15, 2017. On these days, Bitcoin trading volume over the previous 24 hours (Volume 24h) was $2,722 million and $4,148 million, respectively (see Table 1.2).

To analyze the trading activity at cryptocurrency exchanges, the authors propose a new index ZAK-n Crypto (see Glossary). The ZAK-3 Crypto and ZAK-5 Crypto index values are presented in Tables 1.1, 1.2, and 1.3. For example, on September 17 and September 24, 2017 the 24-hour trading volume (Volume 24h) for three dominant cryptocurrencies was just $1,716 million and $1,360million (Tables 1.1 and 1.2), and for five dominant cryptocurrencies $2,183 million and $1,557 million (Tables 1.1 and 1.3). In total, the 24-hour ZAK-3 crypto and ZAK-5 crypto indices did not go beyond 2.5% of the capitalization of cryptocurrencies under review.

https://www.coinspeaker.com/2017/09/27/weekly-cryptocurrency-ico-market-analysis-september-18-24-2017/