Last week, the NWST1100 fell by 1.55%. Crypto markets had tested support, quickly rebounded then they were hovering during the last three days of the week. SwissBorg (CHSB) Token is a member of the NWSL100 crypto index that made the biggest jump in our ranking in the last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represents the top 1100 Digital Assets. The information-laden chart is difficult to read at first glance but the chart shows key price information, important decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for last week had been: Index was on the limit where the trend could turn downward. The continuation of the decline was more likely. If the supports hold, a quick rebound will follow. The forecast was correct, as evidenced:
- by the 2100NEWS DA Indexes table which measures the performance of various groups of tokens and coins and
- by theNWST1100 chart, which shows that the crypto markets had tested support on June-15 (784 points), quickly rebounded, then they were hovering between 10-days EMA and 25-days EMA during the last three days of the week.
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 52 (neutral); PPO line is on the limit, it is nearing the zero line, indicating that the underlying trend could turn bearish if PPO lines will continue sloping down, or PPO line may rebound, the sideways trend is likely to resume in the coming days. At the bottom of the chart, we see the Breadth indicators that could go down or remain flat. Critical short term support levels are considered to be 790 and 750 points. If the price of the NWST1100 falls at both levels, we expect the index to fall to as low as 680 points. This constellation is the basis for my opinion: Index is on the limit where the trend could turn downward or sideways trend could resume. The continuation of the decline is more likely. If the supports hold, a quick rebound is also possible.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see crypto markets continued falling in the last week. The total (NWST1100) index decreased by 1.55%.
Crypto (Digital Assets) compared with global equity
The chart below compares the performance of the average represented by our NWST1100 Digital Asset index with the average global share represented by Dow Jones global W1Dow index. This year the NWST1100 outperformed W1Dow twice by 60%. The first wave up was an extended Christmas rally, then the pair suffered a collapse caused by the corona pandemic, and the crypto markets had fallen more than the equity markets and lost their advantage. Since March 18th NWST1100 vs. W1Dow pair had rebounded and peaked six weeks ago. This year, crypto investment represented by NWST1000 beat global equity by 45.5% while over the last 12 months NWST1100 was 13% lower. The box in the middle of the chart shows the original NWST1100 price, at the bottom of the chart is W1Dow. The blue curve is the average index price over the last twelve months. We can see that the NWST1100 price and W1Dow price are above average, but the NWST1000 average is 13.47% lower than 12 months ago.
Indexes Revision 6-19-2020
The Bi-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, NWSL100, and NWSM200. As we can see on the tables SwissBorg, Terra, and Mixin have improved their rankings they were added to NWSL100 and deleted from NWSM200. Crypterium and ReddCoin were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Jubi Token, APIX, The Midas Touch Gold … Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We elect the member of the NWSL100 crypto index with the biggest jump in our ranking. We will look at how the market, rates the progress of the project in case of price changes. It seems important to us whether the project is out of the ordinary tide of crypto project prices. Considering an investor’s point of view, peer comparison should be efficient and effective. In order to make appropriate peer comparison, we gauged the SwissBorg (CHSB) Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). In the chart below, we see the CHSB compared to NWSL100 at the top, the box in the middle of the chart shows the original CHSB price, and at the bottom of the chart we see NWSL100 and the correlation between CHSB and NWSL100. On average (violet area chart), the relationship between CHSB and NWSL100 has shown that it was stronger during the rally in June. CHSB has beaten NWSL100 by 526 % in the last three months. However, if we compare the CHSB green area graph with the orange index area graph while observing the correlation graph, the correlation graph gives us an explanation that the correlation is weak (Pearson’s correlation coefficient = 0.41). ). For 58% of the time, it was moving in the same direction as the NWSL100. CHSB grew faster during the rally phase. It has been therefore a poor representative of the NWSL100 index in terms of price changes.
SwissBorg (CHSB) Website: https://www.swissborg.com/
CHSB Large-cap Ethereum based Token is 61st in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor: 12.9 (Average for Largecaps: 14.8)
Over the last week, the average market cap was 89.8 million $, the average daily volume was 2.8 million $.
The SwissBorg project aims to revolutionize wealth management with a community-centric approach powered by Ethereum and smart shares. SwissBorg will be the first Swiss cyber bank offering tailor-made crypto investment services. SwissBorg is a decentralized wealth management platform managed by a team of 90+ years of experience from private banking all the way to Wall Street. Thanks to their extensive experience in hedge-funds’ management, algorithmic/ quantitative trading, their investment team will actively manage crypto-wealth with best-of-breed technologies (blockchain & Al).