[Bithumb Report] BTC OPEN ROUND3&4
On March 29, Dvision (DVI) and MileVerse (MVC) were added to the KRW market. These two digital assets have received the highest scores in Rounds 3 and 4 of Bithumb BTC OPEN. BTC OPEN is necessary for addition of highest-priced (highest-scoring) digital assets to the KRW market, and it also provides access to data such as number of traders and circulation amount which can be used as supplementary indicators.
The following is an analysis of real-time data from Rounds 3 and 4 of BTC OPEN.
Round 3 Summary
- Ultra (UOS) led earlier in the round, and Dvision (DVI) led later.
- After the round ended, Dvision was up 50.24% in the BTC market. After its addition to the KRW market,
it was up 3.36%.
1. “UOS was dominant earlier in the round, but DVI ended up on the first place”
Round 3 was held for four days from March 12 to 15. Of the 13 digital assets that contended in the round, Ultra (UOS) led from the start with a big score margin. It was ahead of the second and third on the table by a significant margin. The average scores of the second and the third are 70 and 69, respectively, with the point differential between them maintained at only 1–2 throughout the round. The average of the first is 81, which kept its lead over the second by 8–13 points throughout.
However, UOS could not maintain its lead for long. On the third day, past the halfway point in the round, the first place was replaced every two hours or so, reflecting an intense race. The first place was changed 48 times within one day, with UOS, DVI and STPT being the main contenders.
Then, later in the round, DVI started to keep the first place, expanding the point differentials with the other assets. DVI finished the round maintaining the score margin with the second between 1.4 and 3.5. The margin increased to as high as 8 at the end of the round. Round 3 ended with DVI on the first place with 77.7 points, BLY on the second with 69.7 and UOS on the third with 69.4 points. (☞ See Round 3 results.)
2. “Reason for DVI’s Win Is Its Constantly Rising Performance”
What was the reason that DVI could finish in the first place? To analyze the reason, we looked at the assets with the highest rate of rise during the round.
On day 1, UOS, which remained the leader throughout, had the highest rate of rise based on the closing score at ▲23.08%. It not only had the highest rate based on the closing score but also based on the mid-round score at ▲40%. However, DVI started to stand out starting on day 2. DVI started with a rate of rise of ▲8.47% based on the closing score, and the rate increased to ▲29.74% on day 3 and to ▲43.27% on day 4, breaking its record on three consecutive days. As it approached end of the round, its rate of rise increased even more.
So, DVI’s price rise was constant and not intermittent, and its record stands out more than all the other assets. DVI started at the fifth place on day 1, rising to the fourth place on day 2 and to the third and first places on day 3.
3. “DVI remained on the rise even after the round”
DVI’s price continued to increase even after the round ended. The period marked in orange in the graph below indicates Round 3 of BTC OPEN. You can see that the upward trend continues after the round. Immediately after the round ended, DVI showed a ▲50.24% rate of rise compared to the previous day’s closing price. Ten days after, the price increased by 102% (compared to the final day of round).
After its addition to the KRW market on March 29, DVI’s upward trend continued. There was a brief period of price adjustment right after the addition, but the rise continued, with the rate being ▲3.36% on March 30 and ▲14.72% on April 2 compared to the previous day’s closing prices. It will be interesting to see if the upward trend will continue. (☞See the transaction status of DVI in the KRW market.)
*Dvision (DVI) is a project that aims to generate a VR contents ecosystem utilizing the blockchain technology and merging the dispersed contents in the VR industry, thereby contributing to development of the VR industry.
Round 4 Summary
- Highest rates of rise in the round: MAP Protocol (MAP) ▲127%, MileVerse (MVC) ▲220%
- MileVerse (MVC) remained on the rise three days after the round ended with a rate of ▲230%.
1. “An unmatched, record-breaking race”
A week after Round 3 ended, Round 4 started. This round was held for five days (March 22–26). To summarize, this round showed the highest rate of rise of all the rounds.
Among the first three rounds of BTC OPEN, Cola Token (COLA) recorded the highest rate of rise at ▲126% in Round 1. No other digital assets were able to break that record. However, the record was broken in Round 4.
Although the closing score-based rates are not much different from the previous rounds, MAP and MVC recorded the highest rates of rise at ▲127% and ▲220% on day 2 and day 3, respectively. The first two days of the round were dominated by MAP, and the last three days by MVC.
2. “MAP on a steep rise vs MVC on a constant rise”
MAP led Round 4 at the start. MAP showed slight signs of rise before the round started and rose at a fast pace during the round. Based on the closing price, its rate of rise was ▲37.93% on the starting day and ▲97.15% on the second day compared to the previous days. However, there was another strong asset that could replace MAP at the first place. It was MileVerse (MVC).
MVC remained at the second place earlier in the round and was not considered much of a threat, being as many as 13 points behind MAP. But starting on day 3, the point differential started to narrow, and the tables were turned in the end. MVC started with 81.6 points and ended the round at the first place with a total score of 91.2. Round 4 ended with MVC at the first with 91.2 points, MAP at the second with 83.6 points and BLY at the third with 81.7 points. (☞ See Round 4 results.)
3. “Step-like upward trend of MVC”
Right after the round started, MVC showed a ▲34.62% rate of rise compared to before the round based on closing price. After this, its rise continued in a step-like fashion. At the end of the constant rise on the closing date, its rate of rise compared to the starting date was as high as ▲309%. The rate of rise on the first day after the round ended was ▲12.59% compared to the final day of round, and three days after the round the rate increased to ▲230%, maintaining a constant upward trend regardless of rounds.
MVC took the first place in Round 4 of BTC OPEN and was successfully added to the KRW market on March 29. It seemed to slow down a little after the addition but bounced back in April. It was up 28.94% and 25.71% on April 1 and 2 compared to the previous days. It has been on a constant high upward trend. It will be interesting to see its future trends.
*MileVerse (MVC) is a project that lets users conveniently convert company mileage to MVP on a smartphone application to use it for payment.
The above results show that the digital assets that have won each round of BTC OPEN continued on the rising trend in the KRW market as well. This stresses that BTC OPEN is not just a ranking tool but provides effective supplementary indicators of digital assets’ current performance and future values.
Bithumb will continue to provide analysis results of BTC OPEN rounds. Stay informed!
See the Round 1 results of BTC OPEN ☞ http://asq.kr/vteZG8UU4mBVOH
See the Round 2 results of BTC OPEN ☞ http://asq.kr/UCJXPSKSzH0Gj0
※ Go to the BTC OPEN page ☞ https://en.bithumb.com/event/btc_open?v=pc
*All copyrights to this material are owned by Bithumb.
*Investors should be noted that this material is for information only and is not intended to recommend certain digital assets for investment.
