2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on November 26, 2018
Any tool that provides insights into what drives token’s and coin’s prices up and down is a welcome addition to every investor’s arsenal. With the 2100News weekly crypto report, we analyze and gauge the entire crypto market. The family of cryptocurrency indexes, 2100NEWS DA (Digital Assets) Indexes serve for general insight into crypto markets and measure for their current and past movements.
Technically, as you can see on the chart below 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) which measures the performance of top 100 crypto assets by market cap vs. 2100NEWS Digital Assets Bitcoin-Ether Index (NWSBE), the crypto crash was due to Bitcoin and Ether who had a sudden and dramatic market collapse in the last two weeks. Large caps prices in Bitcoin are only 4.5% lower than they were before 14 days. The downside move last week was such that price was approaching close 500 points. In fact three days we kept hanging around that level. This shows there was no strength at all in the market, likely move was decline to new lows. All 2100NEWS DA indexes had a similar moving pattern.
Looking ahead to next week we are observing an extremely oversold market. After such a fall, it is not expected that the market would hang at the support level, more likely is another step down to support zone near 400 points and then a rebound near 500 points to the 23% Fib retracement level of the recent decline.
Performance of different groups of Digital Assets (Coins and Tokens)
On the table below, you can see that middle-sized digital assets by market capitalization were the worst performing group last week. The market cap of each asset in this index spans from $10 million to $60 million. NWSM200 plunged by 26.86% last week. All group of tokens and coins are lower than they were before one week. Total (NWST1100) and overall (NWSOI) indexes have plummeted by almost 34% in a crypto crash since November 9th.
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 crypto has performed better than equity since September 12th but in the last two weeks, crypto has lost the ground. Last week crypto plummeted in two steps by 33,7% vs. W1Dow, so global equity performed better than crypto.
Indexes Revision 11-23-2018
The weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below are additions and deletions from NWSL100 and NWSM200. As we can see on the tables that two groups changed their membership. Factom, ODEM, Insight Chain and SIRIN LABS Token have improved their rankings they were added to NWSL100 and deleted from NWSM200. Veritaseum, FunFair, and ETERNAL TOKEN were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Gemini dollar, Optimal Shelf, AMO Coin … 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 NWSM100 crypto index with the biggest jump in our ranking. We can see from the chart that in November in the time of crypto crash Factom (FCT) performed 3 times better than average coin or token which is a member of NWSL100 index. Factom announced Mortage Servicing Blockchain Solution two weeks ago.
Factom (FCT) web
Factom is the first distributed blockchain technology to improve the strength of real-world business concerns by presenting a stable record-keeping system. By placing a data layer on top of the Bitcoin blockchain, Factom’s distributed ledger technology guarantees a large number of real-time reports in the blockchain with a single mixture applying cryptographic separation. Factom can be used by Businesses and governments alike to secure their data so that it is impossible to be changed, removed or backdated. Factom’s technology distributes record keeping by ensuring that the uprightness of collected data keeps intact, presenting full transparency, while simultaneously managing user privacy in a gradually virtual world.
We're excited to announce @EquatorHomes' Mortgage Servicing Blockchain Solution! Check out the press release for more on the Factom Harmony integration and Equator PRO: https://t.co/lWueugL72o#mortgage #blockchain @Altisource pic.twitter.com/Ld8b8bKy0o
— Factom (@factom) November 13, 2018