In the past week, the NWST1100 increased by 1.50%. The index has trended sideways. Last Friday NWST110’s price found a floor, then the index rebounded into the territory between 10-days and 25-days EMA. OKEx (OKB) Token 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, it was said, for the past week our assumption had been: the sideways trend was more likely, because of a lot of resistance (25-days EMA), the market could linger between 10-days and 25-days EMA for a few days. On the NWST1100 chart above, we can see, the index has trended sideways. Last Friday NWST110’s price found a floor, then the index rebounded into the territory between 10-days and 25-days EMA.
Looking ahead to the next week: The indicators give us the following signals: we can see the RSI is breaking out to the upside and trending above 50, The PPO has also been trending to the upside for weeks and could cross the zero line, PPO histogram bars could continue sloping positively in the next few days. It is likely to pick up stronger upside momentum. The Breadth indicators could continue rising. This set up is the basis for my opinion: the price of NWST1100 is shaping up for a big move. Currently, bulls appear to have momentum on their side, but there is the underlying issue of the overall downtrend in which index remains locked in since summer. So the target will be near 700 points (blue downtrend line)
Performance of different groups of Digital Assets (Coins and Tokens)
At the table you can see, the Total (NWST1100) index experienced a weak Christmas rally, it has increased by 1.50% over the past week.
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. Last year average crypto vs. W1Dow surged 15% but in the second half of the year, crypto has fallen over 54% vs. global equity. Last week NWST1100 vs. W1Dow rebounded.
Indexes Revision 1-3-2020
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 NWSL100 and NWSM200. As we can see on the tables OKEX utility token has improved its rankings it was added to NWSL100 and deleted from NWSM200. Aurora was deleted from NWSL100. It is a member of NWSM200. New mid-caps are Telcoin, Wirex, BQT. Other additions and deletions this week for the other indexes from the family are available in each index presentation.
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 OKEx (OKB) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the OKB vs. NWSL100, in the middle of the chart is the original OKB price, at the bottom of the chart are NWSL100 and correlation between OKB and NWSL100. Purple area graph shows, OKB has beaten NWSL100, it has surged by 38% vs. NWSL100 in the last four months. However, the correlation graph gives us an explanation that the correlation is weak (Pearsons correlation coefficient = 0.55). It has been an ordinary representative of the NWSL100 index in terms of price changes.
OKEx (OKB) Website: https://www.okex.com/
OKB Large-cap Ethereum based token is 74 in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: GOOD: 14.8 (Average for Large caps: 12.3)
Over the past week, the average market cap was 94.0 million $, average daily volume was 56.1 million $.
Okex is a leading digital market exchange that has issued a token to celebrate the Chinese new year and to thank customers for their support. Through the issued token, Okex aims to develop a sharing community that allows all the participants to contribute to the improvement of the Okex platform. OKB is a utility token issued by the OKB foundation. OKB is accepted on OKEx and it`s a vital piece of its architecture & development. Through the highly complementary relationship, OKB will be applied not only on the OKEx platform but on other related projects as well.