Weekly reports regarding developments in the world of cryptocurrency is always worth one’s while. In the case of OKEx’s new report, their blockchain industry report for the past week highlights a lot of interesting topics. With the falling Bitcoin prices, one would expect a lot of negativity to ensure. That is not necessarily the case, though.
Disclosure: This is a Sponsored Article
Positive Growth for Tokens
One has to acknowledge the cryptocurrency markets have not evolved in a positive direction between June 2nd and June 8th. While there was some positive momentum, the top currencies did not show much momentum. Even so, the OKEx report shows tokens such as AirToken, swarm and XTD Coin all gained over 100% in value during that week. In fact, all of the strongest gainers in the top 10 raised their overall value by 65% or more, which is rather impressive.
Another thing worth pointing out is how the market cap of the top 200 projects increased by 3.56% during that particular week. Exchange platform tokens and advertising verticals are definitely leading the charge in this regard, even though it seems the tokens and coins focusing on vertical industrial application are not seeing much love despite a respectable increase compared to the week prior.
No Shortage of New Projects
As one would expect in the cryptocurrency industry, new projects are still launching around the clock. That in itself is an interesting trend, especially because a lot of projects focus on basic chain and protocol solutions. The gaming and payment industries are also getting some much-needed love and attention. All other categories are somewhat less popular, with smart contracts being on the same level as gambling and IoT right now.
The OKEx report also clearly defines where all of the new currencies and coins are getting listed. Exchanges are keeping tabs on all of these developments, but it is difficult to cull the weed from the chaff. IDEX is clearly dominating the space right now, followed by Hotnit, HitBTC, and CoinBene. Most of these names may not necessarily ring a bell for cryptocurrency enthusiasts, but that is also what makes these reports so interesting.
Closed Public Sales on a Global Scale
Another intriguing trend to keep an eye on is how a lot of projects are slowly moving toward private sales these days. Various projects were successful in the week between June 2nd and 8th. HybridBlock raised the most money at $50m, although the other projects were all successful as well. Surprising, nearly half of the projects are hosting their sale in England, whereas the others are spread over Hong Kong, Singapore, and Switzerland, among other regions A competitive form of regulation will certainly drive innovation in this space, and those four countries are seemingly very appealing in this regard.
Regulation, Regulation, Regulation
It is safe to say regulators all over the world are focused on cryptocurrency and ICOs. Important developments have taken place in Europe, the US, Asia, and South Africa. With the exception of Vietnam, Japan, and Russia, all of the developments will help foster growth and innovation in the cryptocurrency space. Rest assured there will be more of these developments in the coming months, either for better or worse.
OKEX Weekly Report, 6.2_6.8 by JP Buntinx on Scribd