ICO Ratings on ICOformula - Movers and Shakers of Week 14
Both Bitcoin and Ethereum were gaining positive momentum over the weekend at $7.1k and $420 respectively – altcoins overall showing green indicators at a glance.
It would appear the institutions are making moves into the world of cryptocurrency after announcements that Soros Fund Management and Venrock (part of the Rockefeller Foundation) are entering the arena.
George Soros is well known as a currency trader after having moved markets with his shorting of the Pound in 1992 and making $1.5 billion as a result. Such trades did not make Soros very popular at the time and proved clearly that he had the ability and resources to move markets if he chose to. The news of Soros entering the crypto space has been met with mixed reaction after he had previously stated the he “considered Bitcoin to be mere speculation”. The reality is no matter what you think of Soros and his phenomenal wealth and trading acumen over the years – this is exactly what the cryptomarkets need – the institutional money and those that control it.
The negativity from within the cryptocurrency communities about Soros entering the market is not surprising, but somewhat contrary to say the least. For the cryptocurrency markets to really gain pace and the mainstream adoption of crypto and blockchain to happen, the institutions (and their money) need to be involved. Like it or loathe it – unless adoption continues and accelerates the entire market will stagnate and do no one any favours. Expect more volatility in the coming months – this time more likely in a positive direction overall as the market begins to mature.
What will be interesting to see is whether Warren Buffet will follow suit despite his earlier announcement of his disdain for crypto whilst admitting he didn’t understand it.
New Listings on ICOformula
Last week in the world of ICO Ratings on ICOformula:
The first chart shows us how the top 10 ICO’s by average position have changed over the course of the previous week:
The second chart shows the top 10 ICO’s by largest average position gain over the past week:
The third chart shows the top 10 ICO's by largest average position drop over the past week:
Caveat: Only ICO’s that have had the status of ICO are used in the data set for the full 7 day range are included in the following charts. ICO’s that either entered the dataset mid-way through the week, OR completed the ICO process and completed their sale/trading as tokens are not included in these charts.
Learn more about ICOformula ratings and how the Formulatron calculates them in our in-depth guide to how ICOformula rates ICOs.
Created: Monday, April 9, 2018
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