In the past week, the NWST1100 surged by 6.91%. The bullish crossover happened and in the last three days, bulls have been able to propel the index above overhead sideways resistance. MimbleWimbleCoin (MWC) Coin 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, the price could linger inside the lower Keltner band. On the NWST1100 chart above, we can see: In the first four days of the week, bulls maintained the index above moving averages which were on the verge of a bullish crossover. Then the bullish crossover happened and in the last three days, bulls have been able to propel the index above overhead sideways resistance.
Outlook for this week
Looking ahead to the week, the indicators give us the following signals: we can see that RSI is 65 – bullish. PPO histogram bars could continue staying positive in the next few days. Breadth indicators could continue rising but 143-days (working days) EMA is strong overhead resistance and Corona pandemic is still present. This set up is the basis for my opinion: the continuation of weak growth is more likely. NWST1100 index price could continue sloping positively and could linger inside the upper Keltner band.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see crypto markets continued the rebound last month. The total (NWST1100) index surged by 6.91% in 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. At the bottom of the chart is crypto performance represented by NWST1100. This year the NWST1100 had beaten W1Dow by 60% in January then pair experienced pullback in corona’s collapse, crypto markets had fallen more than equity. Since 18th March NWST1100 vs. W1Dow pair has rebounded. This year crypto investment represented by NWST1000 has beaten global equity by 35.40%.
Indexes Revision 4-24-2020
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 MimbleWimblCoin, MaidSafeCoin, and Hyperion have improved their rankings they were added to NWSL100 and deleted from NWSM200. Aion, ThoreCoin, and Molecular Future were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Homeros, CastWeet, CreditCoin … 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 NWSCo100 crypto index with the biggest jump in our ranking. We will look at how the market, with price changes, evaluates project progress. It seems important to us if the project is out of the ordinary tide of crypto project prices. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peer comparison we gauged the MimbleWimbleCoin (MWC) Coin with 2100NEWS DA Coin Index (NWSCo100). Looking at the chart below, at the top we can see the MWC vs. NWSCo100, in the middle of the chart is the original MWC price, at the bottom of the chart are NWSL100 and correlation between MWC and NWSCo100. Purple area graph has shown that MWC was stronger in the rally in January and February and in the rebound in March. MWC has beaten NWSCo100 by 535% in the last four months. However, the correlation graph gives us an explanation that the correlation is not strong (Pearsons correlation coefficient = 0.55). MWC was moving in the same direction as the NWSCo100 but in the rally phase, it grew faster. So, it has been an ordinary representative of the NWSCo100 index in terms of price changes.
MimbleWimbleCoin (MWC) Website: https://mwc.mw/
MWC Large-cap Coin is 58th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor: 7.9 (Average for Coins: 12.6)
Over the past week, the average market cap was 124.5 million $, average daily volume was 40.2 million $.
MWC is an in-progress implementation of the MimbleWimble protocol. Many characteristics are still undefined but the following constitutes the first set of choices:
- Clean and minimal implementation, and aims to stay as such.
- Follows the Mimblewimble protocol, which provides hidden amounts and scaling advantages.
- Cuckoo Cycle proof of work in two variants named Cuckaroo (ASIC-resistant) and Cuckatoo (ASIC-targeted).
- Relatively fast block time: one minute.
- Fixed block rewards over time with a decreasing dilution.
- Transaction fees are based on the number of Outputs created/destroyed and total transaction size.
- Smooth curve for difficulty adjustments.