2100NEWS WEEKLY CRYPTO REPORT

Written by on February 25, 2019

Timing is Everything. In the 2100News weekly crypto report, we analyze and gauge the entire crypto market to understand why the crypto universe is as it is in order to understand where we go. We analyze the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. 

In the last week, markets made a big move up. Looking at the (NWST1100) chart, we can see that it made two big steps up in the last two weeks. As we predicted in the previous Weekly Crypto Report, we were observing a bullish breakout which led to the formation and confirmation of a bullish trend.  The RSI (over 70) confirmed the bullish trend.  Crypto market failed to extend its bullish momentum –  the third time it came near a specific resistance area (480 points NWST1100). Sell-off on Sunday demonstrated that the level near 480 points had become a significant level of resistance. The rapid drop was likely caused by traders who were net-long. The market not absorbing their selling pressure. As evidence, short interest has been in decline throughout most of the year and did not increase over the weekend.

Looking ahead to next week. Report On the PPO and PPO histogram, we can see that they started declining and swing down. Their waves will be negative in the next few days. RSI is in the neutral zone between 40 and 60. Breadth indicator McClellan summation index is still rising. this set up means that we expect consolidation and a short term sideways trend. 

Performance of different groups of Digital Assets (Coins and Tokens)

On the table below, you can see that Tokens based on Ethereum represented by 2100NEWS DA Ethereum Tokens Index (NWSET100), has been the best performing index last two weeks. It surged by more than 15%. At the same time the Total market (NWST1100), Bitcoin, and Ether (NWSBE) jumped about 12%. Total (NWST1100) index soared by 12.32% last 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 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. This year crypto vs. W1Dow lost about 4%. 

 

Indexes Revision 2-22-2019

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. Kucoin Shares has improved its rankings it was added to NWSL100 and deleted from NWSM200. QASH was deleted from NWSL100. It is a new member of NWSM200. New mid-caps are MetaHash, GRIN, Credo … Other weekly additions and deletions this week for the other indexes from the family are available here.

Winner member

We select the member in the NWSL100 crypto index with the biggest jump in our ranking. It is no wonder that the growth of KCS is faster than NWSL100 because a bullish market in February makes more revenue for exchanges. We can see from the chart that KuCoin Shares (KCS) has performed better than average coin or token which is a member of NWSL100 index, in February its price performance is over 10% better than NWSL100.

KuCoin Shares KuCoin Shares (KCS)

2100NEWS ranking: 85, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100

Kucoin Shares is an exchange based token and native currency of the Kucoin crypto exchange. Holders of the token are able to reap the rewards from the success of the exchange as 50% of its overall trading fee revenue is shared with holders through the tokens. Rewards, received in the form of dividends, are proportionate to the amount of Kucoin Shares one holds.


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