In the past week, the NWST1100 index rose to its peak but has lost traction, so the index increased by 2.56%. We were observing the corrective phase of the second leg down which has retraced 38%. Seele (SEELE) is the NWSL100 crypto index member which made the biggest jump in our ranking last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent the top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
In the previous report, our assumption was that a more likely course for the past week would be a move to the Pivot at 767 points. On the NWST1100 chart, we can see, that the index rose to its peak but has lost traction. We were observing the corrective phase of the second leg down which has retraced 38%. The Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume were rising.
Looking ahead to the next week: The indicators give us the following signals: we can see that RSI is 39, the brown PPO histogram bars (blue arrow) could change the slope to negative in the next few days. That would be a sign of weaker upside momentum. The Breadth indicator McClellan summation index is rising. This set up is the basis, that in my opinion for the next week I am expecting a sideways trend. A likelihood of a move up to resistance at 800 points is similar to a new bottom test (700 points).
Performance of different groups of Digital Assets (Coins and Tokens)
At the table, you can see that the Total (NWST1100) index increased by 2.56% over the past week. Leading groups of digital assets were Ethereum Tokens represented by NWET100 and Large-caps represented by NWSL100.
Crypto (Digital Assets) compared with global equity
On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with the average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared over 48% but over the past 4 months, we were observing a pullback. Three weeks ago NWST1100 plummeted vs. W1Dow again and last two weeks we were observing a consolidation.
Indexes Revision 10-11-2019
The Bi-weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below there are additions and deletions from NWS30, NWSL100, and NWSM200. As we can see on the tables Seele, Insight Chain, Swipe … have improved their rankings they were added to NWSL100 and deleted from NWSM200. Gatechain, WAX, Atlas Protocol … were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Centrality, GAPS, Veritaseum … Other additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peer comparison we gauged the Seele (SEELE) token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the SEELE vs. NWSL100, in the middle of the chart is original SEELE price, at the bottom of the chart are NWSL100 and correlation between SEELE and NWSL100. However, the correlation graph gives us an explanation that for 80% of the time, it was moving in the opposite direction as the NWSL100. In the last four months, he has not been a typical representative of the NWSL100 index in terms of price changes. Since the beginning of July SEELE has grown and beaten the NWSL100, it has soared by more than 1000%.
Seele (SEELE) Website: https://seele.pro
SEELE as Large-cap Token is 74 in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWTo100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Good: 14.2, (Average for Large caps: 10.6)
Over the past week, the average market cap was 40.9 million $, average daily volume was 17.1 million $.
Seele public chain is a high performance (2000+ TPS), multi-shard, decentralized and highly scalable blockchain network. Seele has developed the innovative MPoW consensus algorithm for ASIC resistance and security. Seele is fully EVM smart contract compatible. Seele proposes the heterogeneous forest network, a blockchain ecosystem comprised of subnets optimized for different use cases. Subnets can handle different service scenarios independently and can interact with each other through cross-chain and cross-domain protocols. This network is secure, efficient, and compatible with current blockchain ecosystems. It presents an overarching vision for the future Internet of Value. MPoW (Matrix-Proof-of-Work), an innovative PoW consensus algorithm developed by SeeleTech is implemented in Seele’s main-net. Compared to conventional PoW consensus algorithm, MPoW requires miners to compute the determinants of sub-matrices from a matrix constructed with n hashes other than brute-force-hashing using a hash function to find the target. It consists of several steps which can efficiently prevent ASIC from dominating the network.