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Macro View at Crypto Market: OCTOBER


Regulations

FATF

On 19th of October FATF announced that they acknowledge the benefits and risks that cryptocurrencies bring, therefore, they are planning to review the scope of the existing Recommendations and Glossary in the next 12 month.

Ukraine

On 25th of October Ministry of Economic Development initiated the the adoption of the Concept of State Policy in the Field of Virtual Assets in Ukraine.

Japan

On 24th of October Financial Services Agency approved Japan Virtual Currency Exchange Association. The virtual industry is self-regulatory in Japan now.


Market capitalization

On the 1st of October it was 224 254 959 593 USD in the crypto market (according to coinmarketcap data).
On the 31st of October the market cap was 203 445 883 156 USD.
The loss of capital was around 9.28%.


Hacks

On 28th of October MapleChange was hacked and 8 BTC were lost according to their twitter account.

On 21st of October 50M TIO (worth 11M USD at that time) were mysteriously stolen from a cold storage wallet which was held in a safety box at the bank.


Crypto market performance comparison to other assets

 October
Bitcoin-3.67%
S&P 500-7.28%
Crude Oil WTI-13.27%
Gold Futures2.12%
US 10Y Bond2.24%
Crypto Market-8.39%

Source: investing.com. Calculations do not include data on weekends.


Correlation

 BitcoinS&P 500Crude Oil WTIGold FuturesUS 10Y BondCrypto Market
Bitcoin1
S&P 5000.521
Crude Oil WTI0.460.911
Gold Futures-0.34-0.80-0.801
US 10Y Bond0.370.370.28-0.301
Crypto Market0.370.710.73-0.710.081

Source: investing.com. Calculations do not include data on weekends.


Transactions


ICOs

The total number of ICOs completed in October was 173 (64.74% have not published the results). The total amount raised is equivalent to 643 154 481 USD.

This graph does not include ICOs that raised less than 100 000 USD.
Sources: https://www.icodata.io/, https://icobench.com/, https://icodrops.com/.

In comparison to September, ICOs raised approx. 80.63% more, however, the total number of ICOs was higher by 45 (according to data gathered by us in September).


Summary

The market shrank a little bit. The regulatory environment was positive to crypto market. The total market capitalization decreased by 9.28% while Bitcoin outperformed S&P 500 by 3.61%. ICO market experienced a significant growth, 173 ICOs launched and raised 80.63% more capital (in comparison to September).