Last week, NWST1100 increased by 0.14%, index price bounced off the 25-days EMA. Kusama (KSM) Token is a member of the NWSL100 crypto index that made the biggest jump in our ranking over 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: the sideways trend was more likely, the market could linger between 1100 25-days EMA (pink) and 1240 points. The NWST1100 chart shows that assumption was true. The index price had tested 25-days EMA (pink) support at 1115 points then bounced off. At the top we see momentum indicators: PPO lines are sloping down, and RSI and PPO histogram changed direction.
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 58 (neutral); PPO histogram bars may continue direction in the coming days. PPO lines are nearing zero lines (important decision points). The Breadth indicators, at the bottom of the chart, may flatten. This constellation is the basis for my opinion: the sideways trend is still more likely, the market could linger inside the Keltner channel.
Performance of different groups of Digital Assets (Coins and Tokens)
The total (NWST1100) index increased by 0.14%. On the table below we can see, that The tokens built on Ethereum represented by 2100NEWS DA Ethereum Based Index (NWSET100) have recorded the biggest gains over the last week.
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 the Dow Jones global W1Dow index. The chart shows the superiority of crypto investments. This year NWST1100 outperformed W1Dow by 93% while over the last 12 months, NWST1100 was 18.5% higher. 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 spot price and W1Dow price are above average, but the NWST1000 spot price is 48.6% higher than twelve months index average price. This means: If we bought one share every day over the last twelve months, our investment is recording 48% gains today.
Indexes Revision 8-28-2020
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 JUST, Qtum, Ocean Protocol, … have improved their rankings they were added to NWSL100, they were deleted from NWSM200. DxChain, Metaverse DNA, Zcoin, … were deleted from NWSL100, they are new members of NWSM200. New mid-caps are STPAY, DefiChain, Serum… Other additions and deletions this week for the other indexes from the family are available in each index presentation.
In order to make an appropriate peer comparison, we gauged the Kusama (KSM) Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). On average (violet area chart), the relationship between KSM and NWSL100 has shown that it was stronger during July and August. KSM has beaten NWSL100 by 237% over the last three months. However, if we compare the KSM 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 strong (Pearson’s correlation coefficient = 0.75). For 95% of the time, it was moving in the same direction as the NWSL100. It has been therefore a good representative of the NWSL100 index in terms of price changes.
*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.
Kusama (KSM) Website: https://www.irisnet.org/
KSM Large-cap Non-Ethereum based Token is 80th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary: 17.7 (Average for Largecaps: 16.4)
Over the last week, the average market cap was 234.6 million $, the average daily volume was 36.2 million $.
Kusama is an early, unaudited, and unrefined release of Polkadot. Kusama will serve as a proving ground, allowing teams and developers to build and deploy a para chain or try out Polkadot’s governance, staking, nomination, and validation functionality in a real environment.
*The chart below shows the KSM compared to NWSL100 at the top, the box in the middle of the chart shows the original KSM price, and at the bottom of the chart we see NWSL100 and the correlation between KSM and NWSL100.