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Week in a review: ups & downs (Top-100 cryptocurrencies)

20 November 2017 21:00, UTC
Margareth Nail
Last week (from November 13 to 19) was relatively successful for cryptocurrency market. Out of the 100 largest cryptocurrencies by volume of capitalization, only 13 have lost in price. Bitnewstoday made a weekly review on the price dynamics of the cryptocurrency and the biggest news on cryptocurrency market.

Chart 1 - Growth leaders

Leaders Price on 13.11.2017 Price on 20.11.2017* Growth
Dimecoin 0,000004$ 0,000038$ Growth in 9,5 times
Bitcore 10,32$ 27,33$ Growth in 2,6 times
BitBay 0,020962$ 0,049372$ Growth in 2,4 times

*Price at the time of writing
Source: Bitnewstoday.com calculations based on information from Сoinmarketcap.com

Top-3 growth leaders

Dimecoin with its price growing 9.5 times can be called last week's growth leader. This cryptocurrency has been circulating on the market since 2013. The idea of ​​the project is to provide a high level of anonymity and ensure the security of transactions. At the time of writing, Dimecoin's capitalization was $20.1 million (91st place).

Apart from Dimecoin, Bitcore and BitBay also demonstrated a significant increase in cost. Bitcore - the cryptocurrency, which is distributed to bitcoins holders, increased its value almost 3 times over the week - from $10.32 as of November 13 to $27.33 at the time of writing. Cryptocurrency is ranked 71st in terms of capitalization ($32.1m).

BitBay went up 2.3 times and at the time of writing its price was $0.049372. BitBay is the cryptocurrency that provides the functionality of smart contracts, the ability to carry out a transaction via recipient's e-mail, and also provides a bonus of 1% for coins assigned to users, etc. The coin is included in TOP-60 in terms of capitalization (at the time of writing $49.8 million).

Top-3 losers

The most significant drop in the value among the TOP-100 cryptocurrencies was recorded by B3Coin coins (-55.7%), Bitdeal (-39.3%) and Neblio (-14.6%).

Chart 2 - Biggest decrease

Losers Price at 13.11.2017 Price at 20.11.2017* Decrease, %
B3Coin 0,000610$ 0,000270$ -55,7%
Bitdeal 0,325405$ 0,197636$ -39,3%
Neblio 3,83$ 3,27$ -14,6%
*Price at the time of writing
Source: Bitnewstoday.com calculations based on information from Сoinmarketcap.com

The owners of the B3Coin project have the goal of creating a transparent token distribution mechanism. At the time of writing, the coin was worth $0.000270. Its capitalization was more than $58 million (51st place).

As part of the Bitdeal Coin project, it is planned to create a platform for professional cryptocurrency trading. At the moment, the coin's exchange rate is $0.197636. In terms of capitalization, the coin is in the TOP-70 (more than $34.2 million).

Neblio is a coin of the same name project. It created a system for corporate software applications and services. The capitalization of Neblio is $43.6 million or 5.4 thousand bitcoins. At the time of writing one coin could be bought for $3.27.

Bitcoin again breaks all-time high

The first cryptocurrency was again in the spotlight last week. First, some experts predicted that the cost of bitcoin would start to decrease smoothly after SegWit2x was cancelled. BTC was said to stabilize at around $5000, but the BTC struck the boldest imagination and hit all-time high on November 17 by bursting through $8,000. Over a week, the cost of bitcoin grew by almost a quarter and at the time of writing its price remained over $8000 milestone.

Secondly, Terry Duffy, director of the Chicago Mercantile Exchange CME Group, announced the launch date for a platform that will enable users to purchase bitcoin futures. This caused a storm of emotions in the traditional financial sector. So, Thomas Peterfy, the head of the largest American electronic broker Interactive Brokers, said that at this stage the cryptocurrencies can not be integrated into the existing financial market.

Thirdly, the destabilization of the political situation in Zimbabwe led to the increase in the bitcoin rate on the local Golix crypto exchange to $13499.

Capitalization

According to Coinmarketcap.com, the total capitalization of the cryptocurrency for the week increased by more than 20% in US dollars and by the time of writing amounted to more than $239 billion. Moreover, the capitalization of altcoins (excluding bitcoin) increased by 12.4% to $104.8 billion.

Bitcoin remains the unchallenged leader in the structure of capitalization. The main cryptocurrency  managed to increase its share by 3.48% throughout the last week - from 53% to 56.48%. Of the 10 largest cryptocurrencies apart from bitcoin, only NEO (+0.15 pp), IOTA (+0.12 pp) were able to grow.

Chart 3 - Change in the capitalization structure over the last week (from 13.11 to 20.11)

Cryprocurrency 13.11.2017 20.11.2017 Change over the week
Bitcoin 53,00% 56,48% 3,48
Ethereum 15,36% 14,29% -1,07%
Bitcoin Cash 9,97% 8,30% -1,67%
Ripple 3,90% 3,76% -0,14%
Litecoin 1,63% 1,62% -0,01%
Dash 1,72% 1,43% -0,29%
NEO 0,94% 1,09% 0,15%
IOTA 0,89% 1,01% 0,12%
Monero 1,00% 0,84% -0,16%
NEM 0,87% 0,76% -0,11%
Rest 10,72% 10,42% -0,30%

In addition to the above news, it is worth mentioning the intention of American Express to cooperate with the Ripple project in the development of a blockchain-based system. It is meant to carry out transnational payments from the USA to the UK. This news positively affected the cost of XRP. On November 13 its price was $0.197472, however at the time of writing it was worth $0.239377.

Bitnewstoday will monitor the main events of the coming week.