With the 2100News weekly crypto report, we analyze and gauge the entire crypto market. The family of cryptocurrency indexes, 2100NEWS DA (Digital Assets) Indexes, Factor Indexes and Crypto Market Breadth Indicators serve for general and deep insight into crypto markets and measure for their current and past movements.
Technically, as you can see on the left PF chart 2100NEWS Digital Assets Total Index (NWST1100), the last week the support mostly held. That bounce we had was not decent, there was no follow through. At the moment we are again at the low and now it is being tested to see if it becomes a double bottom.
Looking ahead to next week we are observing the oversold market. The whole market is at crucial levels now and the bears are clearly still in favor. But it could be that the low of a week ago can also still be a support. So nothing clear, but a very good indication would be, if you see positive PPO histogram and higher ADVL and Mc Clellan Summation Index. So, only from a market seasonality’s point of view, there is a likelihood of a Christmas rally. Now it’s up to the bulls to grab on to this setup and take advantage of the wedge and the double bottom.
Performance of different groups of Digital Assets (Coins and Tokens)
On the table below, you can see that the last week Coins (NWSCo100) and big-sized digital assets by market capitalization were the worst performing group, NWSL100 dropped by 5.01%. The market cap of each asset in this index spans from $30 million to $15 billion. All Groups of tokens and coins are lower than they were before one week. Total (NWST1100) and overall (NWSOI) indexes went down by an additional 3.7% to 4.4%.
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 average global equity represented by Dow Jones global index W1Dow. As you can see since November 12th crypto has lost the ground, it plunged by 51% vs. global equity. Last week crypto vs. W1Dow stayed at the same level as a week before.
Indexes Revision 12-14-2018
The 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 that two groups changed their membership. EURt, Tenx, Linkey, QuarkChain and STASIS EURS have improved their rankings they were added to NWSL100 and deleted from NWSM200. MOAC, SIRIN LABS Token, Horizen and Nebulas were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Hyperion, STACS, Neumark… Other weekly additions and deletions this week for the other indexes from the family are available here.
Winner new member
We select the new member in NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that in November and December in the time of crypto crash Tenx (PAY) performed 64% better than average coin or token which is a member of NWSL100 index.
|2100NEWS ranking: 81, Large cap Ethereum based Token , Index member: NWST1100, NWSL100, NWSTo100, NWSET100
TenX is a virtual currency built by TenX – a Singapore-based startup with a vision to offer the solution of money conversion – its Visa debit card. Their PAY token will be tradeable first on Bittrex. With the card, users can instantly exchange digital currencies into fiat money including the Dollars, Yen or Euros. Regarding digital currency, first, the card supports eight crypto tokens such as Bitcoin, Dash, and Augur.
TenX is a blockchain-based service that focuses on providing user access to a large range of blockchain assets with convenience and security. TenX offers a debit card and accompanying mobile wallet that can be funded with any blockchain asset. The TenX card can be used in almost 200 countries at over 36 million points of acceptance. The TenX token, PAY, allows users to “own” part of the TenX system, as for every transaction made with the wallet, the token holder receives rewards in Ether.
However, more coins will be available with this card in the future. After their ICO in mid-2017, TenX raised $80 million, half of which will be distributed to expand the business, and the other half shall be used to give liquidity for coins exchange. For each transaction with the card, users will be charged a fee of 2% cut. Each card is limited to $2,000 per year, but the customers can raise the limit after their identity validation.