2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on January 21, 2019
We measure the crypto market to understand why the crypto universe is as it is in order to understand where we go. In the 2100News weekly crypto report, we analyze and gauge the entire crypto market with 2100NEWS DA (Digital Assets) Indexes, Factor Indexes, and Crypto Market Breadth Indicators. These tools serve for general and deep insight.
In the last week, we saw moves up and down along neckline (red dashed line) and very low volatility. As you can see on the above chart and left PF chart 2100NEWS Digital Assets Total Index (NWST1100) (neckline) support held although the wave of PPO and PPO histogram was negative.
Looking ahead to next week. We expect very low volatility and the fractal situation is similar to those in October. The wave of PPO histogram shows that it can follow a few days of a negative wave. According to the rhythm, we can expect a change in the PPO histogram trend. We use a combination of several methods and look for confluence. ADVL and McClellan summation index – Breadth indicators are slightly declining. Therefore, for the next few days, there is a greater likelihood that index will trend sideways at similar levels as last week. On the downside, there are supports near 350 points.
Performance of different groups of Digital Assets (Coins and Tokens)
Last week we saw a sideways trend. On the table below, you can see that digital assets, Tokens based on Ethereum represented by 2100NEWS DA Ethereum Tokens Index (NWSET100) were the best performing group last week. Total (NWST1100) index decreased slightly by 0.32%.
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 13th crypto has lost the ground vs. global equity. Last two weeks crypto vs. W1Dow lost more than 13%.
Indexes Revision 1-18-2019
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 DA changed their membership. Power Ledger has improved its rankings it was added to NWSL100 and deleted from NWSM200. DEX was deleted from NWSL100. It is a new member of NWSM200. New mid-caps are Timicoin, Agrello, Trade Token X… Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the member in NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that Power Ledger (POWR) has performed better than average coin or token which is a member of NWSL100 index. Since the start of Christmas rally, its price performance is 37% better than NWSL100.
|2100NEWS ranking: 87, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100|
Power Ledger has developed a series of world-leading blockchain energy applications, such as our P2P energy trading application that allows businesses, such as Utilities, to host trading on the Platform. Blockchain technology provides a transparent, auditable and automated market trading and clearing mechanism for the benefit of producers and consumers. Power Ledger enables the sale of surplus renewable energy generated at residential and commercial developments (including multi-unit/multi-tenanted) connected to existing electricity distribution networks, or within micro-grids. It also puts the power to manage the energy economy into the hands of consumers while maintaining the value of existing distribution networks.
— Power Ledger (@PowerLedger_io) January 16, 2019