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.
The latest Bitcoin Cash blockchain split could damage the overall crypto market in the long-term. Nevertheless, if stability returns to the BCH market, it should reinject confidence in the bitcoin market as well.
Technically, as you can see on the chart 2100NEWS Digital Assets Total Index (NWST1100), last week things were getting a bit confusing though with all that sideways action. The range was about 14%. Therefore, the NWST1100 index staying above 415 points would remain a bullish sign. On the PF Chart on the left, we can see a bottom forming. All 2100NEWS DA indexes had a similar moving pattern.
Looking ahead to next week we are observing the oversold market. So, just from an indicator’s point of view, there is a likelihood of NWST1100 retesting 415 points support as its next bottom range. That eventually will create double Bottom formation and attempting a sharp rebound towards the Target zone. In the event that support will not hold, the next bigger than 10% step down is likely.
Performance of different groups of Digital Assets (Coins and Tokens)
On the table below, you can see that big-sized digital assets by market capitalization were the worst performing group last week. The market cap of each asset in this index spans from $30 million to $15 billion. NWSL100 dropped by 10.05% last week. Groups of tokens and coins are lower than they were before one week. Last week Total (NWST1100) and overall (NWSOI) indexes went down by an additional 5.5% to 7% in a crypto crash started 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 since November 12th crypto has lost the ground, it plunged by 44% vs. global equity. Last week crypto dropped again vs. W1Dow.
Indexes Revision 11-30-2018
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. Mobile GO and Bitcoin Private have improved their rankings they were added to NWSL100 and deleted from NWSM200. ZCoin, Nxt, Loom Network …were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Buggyre Coin, MyCreditChain, Swarm, Gulden … 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 MobileGo (MGO) performed 30% better than average coin or token which is a member of NWSL100 index. MobileGo announced opening the #Esport_platform for beta testing two weeks ago.
MobileGo (MGO) web
The MobileGo smart token provides peer-to-peer matchplay, decentralized tournaments, and more. MobileGo token launch will support fund marketing as well as branding of the Game credits’ Mobile Store and the growth of smart contract technology within the system that employs the Ethereum blockchain network. Not only does MobileGo token attempt to gamify the mobile system and incentivize gamers for loyalty and participation through rewards but it also enables smart contract technology. Besides, a decentralized virtual mobile gamer marketplace, the ability for gamer and gamer decentralized match play as well as decentralized tournaments that run on smart contracts will be allowed to develop by MobileGo token.