In the last week, we were observing consolidation which had big oscillations. Total (NWST1100) index rose by 3.96%. Mithril (MITH) is the NWSL100 crypto index member which made the biggest jump in our ranking. In the 2100News weekly crypto report, we try to understand why the crypto universe is as it is in order to understand where we go. We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets.
We can see on the (NWST1100) chart, that we were observing consolidation. The up momentum was lost and the crypto markets experienced a sideways trend last two weeks. We can see that the crypto market breadth indicator McClellan summation index warned us (blue arrow) that market direction could be to the south.
Looking ahead to the next week. The indicators give us the following signals: we can see that RSI is neutral, PPO histogram could be still negative in the next few days, so the PPO wave could go down. Breadth indicator McClellan summation index is falling, ADVP a breadth statistic based on Net Advancing Volume is falling. This set up means that ii likely expect markets to make a step down in the consolidation. On the other hand, target up is strong, important resistance which is on the chart marked with the green dashed line.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see that Total (NWST1100) index rose by 3.98% in the last week. In the last two weeks NWSBE rose by 5,36%, tokens represented by 2100NEWS DA Ethereum Based Index (NWSET100), fell by 1.27%. At the chart below we can see that NWSCo100 compared with NWSBE experienced a correction after a big move up in the last two months. In the last two weeks, the best performers were Bitcoin and Ether. They gained about 10% vs. the average Coin represented by NWSCo100 index.
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 average crypto vs. W1Dow rose about 22%, last two months crypto had much better performance than global equity.
Indexes Revision 4-19-2019
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 Monaco, Cred, and Mithril have improved their rankings they were added to NWSL100 and deleted from NWSM200. Metadium, PIVX, and Nexus were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Newton Project, WhiteCoin, BlockCloud… Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that Mithril (MITH) price performance has soared vs. average coin or token which is a member of NWSL100 index.
2100NEWS ranking: 90, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100
Mithril is a decentralized social media platform on the Ethereum Blockchain that rewards users for creating content. The team plans to partner existing social platforms to drive adoption of its ERC-20 MITH token, which can reportedly be integrated with any social media platform. In addition to storing funds, the Mithril Vault wallet can be used for staking and swapping into other currencies.