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Macro View at Crypto Market: NOVEMBER


Regulations

Hong Kong

On 1st of November The Securities and Futures Commission (SFC) announced the new framework for cryptocurrency exchanges and funds.

Taiwan

On 5h of November Taiwan’s Financial Supervisory Commission (FSC) made changes to the existing Money Laundering Control Act and the Terrorism Financial Prevention Act regarding cryptocurrencies. Operators now have to make sure that users are using their real names.


Market capitalization

On the 1st of November 203 438 477 150 USD were held in the crypto market (according to coinmarketcap data).
On the 30th of November the market cap was 131 478 041 576 USD.
The loss of capital was around 35.37%.


Hacks

On the 13th of November twitter accounts of Target and The Body Shop were hacked and announced a giveaway of BTC.


Crypto market performance comparison to other assets

 November
Bitcoin-36.88%
S&P 5000.72%
Crude Oil WTI-20.03%
Gold Futures-1.02%
US 10Y Bond-4.50%
Crypto Market-32.14%

Source: investing.com. Calculation does not include data on weekends.


Correlation

 BitcoinS&P 500Crude Oil WTIGold FuturesUS 10Y BondCrypto Market
Bitcoin1
S&P 5000.611
Crude Oil WTI0.910.541
Gold Futures-0.28-0.150.001
US 10Y Bond0.890.600.88-0.171
Crypto Market0.970.560.88-0.310.851

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


Transactions

Source: coinmetrics.io.


ICOs

The total number of ICOs completed in November was 185 (61.08% have not published the results). The total amount raised is equivalent to 479 801 902 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 October, ICOs raised approx. 25.40% less, however, the total number of ICOs was slightly higher by 6.94% (according to data gathered by us in October).


Summary

The market capitalization dropped significantly. Regulations are implemented slowly and still causes a lot of uncertainty. The total market capitalization decreased by 35.37% while  S&P 500 outperformed Bitcoin by 37.6%. ICO market experienced a slow down in growth, 185 ICOs launched and raised 25.40% less capital (in comparison to October).