2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on June 4, 2019
In the last week, digital assets surged, total (NWST1100) index by 7.21% but the week ended with a steep dump all across the crypto market. Crypto.com (MCO) is the NWSL100 crypto index member which made the biggest jump in our ranking. 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. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
We can see on the (NWST1100) chart, that digital assets surged in the last week but the week ended with a steep dump all across the crypto market. A large sell order on major exchanges fueled with the breach of key support levels are likely to have contributed to the drop.
Looking ahead to the next week. The indicators give us the following signals: we can see that RSI is not bullish, the PPO wave could continue direction, PPO histogram could stay negative in the next few days. Breadth indicator McClellan summation index is raising, ADVP a breadth statistic based on Net Advancing Volume is declining. This set up means that is likely expected a wave down. If the asset does not demonstrate a speedy recovery, so if Bulls don’t step in, NWST1100 790 points region below the pivot line (-11%) could be considered a reasonable target in near-term.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table and the chart below, you can see that Total (NWST1100) index surged by 7.21% in the past week. On the chart below we can also see indexes rotation called “Alt season”. The NWSBE Index is topping off while the altcoin Large cap Index NWSL100 is gearing for the next move up.
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. This year average crypto vs. W1Dow soared about 86% and with this growth, it replaced all the losses that arose last November.
Indexes Revision 5-31-2019
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 NWS30 and NWSM200. As we can see on the tables UNUS SED LEO has improved its rankings it was added to NWS30 and OKEX utility token was deleted from NWS30. New mid-caps members are IoT Chain, Own, POA Network, Dentacoin… 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 Crypto.com (MCO) price performance has increased vs. average coin or token which is a member of NWSL100 index in the past three months.
2100NEWS ranking: 65, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100
Crypto.com was founded in 2016 with the goal of accelerating the world’s transition to cryptocurrency. Key products include the Crypto.com Wallet & Card App, a place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which reportedly enables users to pay and be paid in crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a team size of 120+.
https://t.co/vCNztABJoG Chain has received a commercial license for the use of Intel® SGX to achieve a high performance, secure and privacy-protected network. 1 of only 3 companies in APAC. Read more here – https://t.co/zIwI2S56pj @cryptocom @intel #privacy
— Crypto.com (@cryptocom) May 23, 2019