ICO Ratings on ICOformula - Movers and Shakers of Week 29
A positive start to the week for the cryptocurrency markets, the global cryptocurrency market cap is now at $290 billion, up $5 billion on Friday, Bitcoin gained $260 rising to $7712 and Ethereum up just $3 to $464.
JP Morgan has been granted another blockchain related patent aimed at enabling the issuance of asset-backed tokens on a distributed ledger. Essentially (although without explicitly stating it exactly) the patent would permit securities offerings i.e. Initial Coin Offerings or ICO’s, and the potential for ETF’s along with the implication that the same methodology could be used to tokenise assets. Considering JP Morgan CEO Jamie Dimon claimed “Bitcoin is a fraud” in September of last year it would appear the company’s stance on blockchain and cryptocurrencies has very much changed direction on the realization of the inevitable change underway in the traditional banking sector – much like Barclays has after their acquisition of 2 additional blockchain related patents last week after slating the industry for quite some time. JP Morgan’s patent itself however, despite being granted, does appear to be rather vague and arguably weak given there is no explicit mention of ICO’s or direct mention of asset tokenisation as such – whether it is a case of them “keeping up with the Jones’s” as it were, or there is real intent behind the patent remains to be seen.
South Korean regulators, the Financial Services Commission have announced a new cryptocurrency division after a “major organizational reshuffle” according to reports. The FSC has decided to establish a temporary body called the Financial Innovation Bureau said to last for 2 years with the aim to nurture South Koreas fintech industry – specifically focusing on blockchain and cryptocurrency related business. South Korea is well placed to lead the way given their high-speed internet infrastructure, regarded as one of the most advanced in the world currently – the new addition of a regulator has been well received in cryptocurrency community.
New ICO Ratings on ICOformula:
Cyber Capital Invest (CCI)
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 ICO ratings and how the Formulatron calculates them in our in-depth guide to how ICOformula rates ICOs.
Created: Monday, July 23, 2018
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