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The Bithumb Blog

[Bithumb Report] BTC OPEN ROUND2

Greetings. This is Bithumb.

The Second ROUND of ‘BTC Open’ is now concluded. The ROUND 2 has been proceeded for 4 days, from March 5 to March 8. The service was proceeded by collecting 5 different types of data, same to the ROUND 1’s: amount of currency, activeness of transaction, merit on investment, user participation, and soundness of the digital asset.

※What is BTC Open?

BTC Open is an index system that is evaluating digital assets enlisted on our Bithumb BTC market only according to the collected data during a certain amount of period and add the digital asset that recorded the highest score to the KRW market in order to support the asset’s transaction and trade to run smoothly. Since to achieve a remarkable score in the BTC Open’s scoring system, the digital asset should get a high score in most of the evaluation category, thus making the service dependable for utilizing it as a sub-index for investment.

※Go to BTC Open Webpage ☞ https://en.bithumb.com/event/btc_open?v=pc

※How to Use in Mobile App ☞ Overall Menu > Bithumb Index > BTC Open

“ ROUND2 Changing Rank! The Reason of the Frequent Change in the Upper Ranks Was Due to the Narrowed Score Difference.”

- Score difference between 3 digital assets in the upper rank remained Score 9 or less, The difference became evermore closer by 1.8as the ROUND proceeds.

- “MilliMeter token (MM)” nominated as the best digital asset in ROUND 2

Just like the first ROUND, there was some fierce change of rank in ROUND 2. If we see to the Daily No.1 to No.3, MilliMeter token (MM), Blocery (BLY), and Cola token (COLA) have shown some frequent change in rank.

The reason for such changes was the narrowed score difference between digital assets. The score difference between No.1 and No.3 on day 1 was 7, 7.7 on day 2, and 1.3 on day 3. The score difference grew ever closer as the ROUND proceeds to its end and the rank was frequently changed due to these small differences. The actual frequency of the rank change for the №1 was average 36 times daily in ROUND 2. The change was most frequent on day 3, which recorded the smallest score difference.

<Upper Ranks of ROUND 2 on Day 1, Day 2, and Day 3 (Left to Right)>

*Day 1: Cola token (COLA), Blocery (BLY), MilliMeter token (MM)

*Day 2: MilliMeter token (MM), Cola token (COLA), Blocery (BLY)

*Day 3: MilliMeter token (MM), Blocery (BLY), Cola token (COLA)

In a fierce and chaotic competition, what was the result of this ROUND? The digital asset that has achieved the most remarkable result was! MilliMeter token (MM).

*MilliMeter token is the token of the Makers Market, a company that is supporting the protection and rewarding system for the creators and creative works and willing to cultivate an environment for active liaison with the educational institutions, floor plan trading service, and 3D printing industry through linked S/W for 3D printing floor plan.

<3/5~3/8 Left- Daily Price Change of MilliMeter Token BTC Market, Right — Daily Price Change of Bitcoin>

MilliMeter token (MM) has continued its rising trend for 1 month from its enlistment into the Bithumb’s BTC market on February 19 to the middle of March. The period marked in orange color on the left chart was the period when BTC Open ROUND 2 was ongoing. On day 1, it has shown an increase rate of ▲11.72% compared to the day before and also shown a slight increase of ▲1.23% on the next day. Considering the sideways drifting of Bitcoin during the same period which you can see from the chart on your right, it was indeed in a significant rising trend.

After that, MilliMeter Token (MM) was nominated as the best asset, recording a score of 81.8 in summary. Blocery (BLY) that had been competing with recorded 76.6, remaining in the 2nd place, and Cola token(COLA) recorded 70.8, achieving the 3rd place at the conclusion of the ROUND. (☞ See the Result of ROUND 2) After the announcement of the ROUND’s Result, MilliMeter token was enlisted into KRW Market, on March 22, 13 days after the conclusion. (☞ See Current Trade Status of MilliMeter token in KRW Market)

“Digital Assets That Have Wone BTC Open Round 1 and 2! Continuing Their Improved Performance Afterwards”

- Number of Traders has increased after the ROUND’s end! BioPassPort ▲27%, MilliMeter token ▲41%

- Displaying enhanced performance with rising of both the market price and number of traders

Then, how are the digital assets that have won ROUND 1 and 2 are doing afterward? Let’s take a look at the current status of ‘BioPassport’ (BIOT) and ‘MilliMeter token’ (MM), the winners of ROUND 1 and ROUND 2 respectively.

<Left — BioPassport, Right — MilliMeter token, Changes of Daily Market Price after BTC Open Result>

First, BioPassport (BIOT). During the ROUND, the ‘user participant’ that is indicating the participation for the trade has risen by ▲27%, showing the increase from 388% (Last day’s fluctuation before the start of the ROUND) to 491% (2 days later after the ROUND concluded). The fluctuation of the market price also shown a sharp increase of ▲110%, 93% during the ROUND to 195% until March 18 after the ROUND’s end.

Next, the winner of ROUND 2, MilliMeter token (MM). The user participant of MilliMeter token was 61% during the ROUND. But 2 days after the Round’s end, it grown to 86%, showing a ▲41% rise. And that means the number of traders has grown significantly even after the ROUND’s end. The same goes for the market price. The fluctuation of the market price during the ROUND was 13%, while the fluctuation rate from the end of the ROUND to March 18 was 46%, which means it has rapidly grown by ▲254%.

According to the analysis above, those digital assets that had achieved a remarkable score in BTC Open are showing improvements in their performance before/after the Round. Also, we can see that BTC Open is serving its cause as a sub-index, providing helpful insight for evaluating which digital asset to trade.

Have you found our report on ROUND 2 interesting? Our analysis for digital assets nominated through BTC Open will continue, so please expect more from us. :)

Review Report on BTC Open ROUND1 >>

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