Token highlights: Ocean Protocol

OCEAN (Ocean Protocol) as a Large Cap Ethereum based Token is 46th in the 2100NEWS ranking. The quality of the order book of OCEAN is Ordinary. The average quality of the order book for large caps members of the NWSL100 index is 17. What is the true value criterion in the crypto world?

*Among all, the price is always at the forefront. By comparing with the index, we can gauge the price-performance with similar digital assets that are members of the index. Considering an investor’s point of view, peer comparison should be efficient and effective. We present you tokens that are worth keeping in mind.

About token

OCEAN has been launched in 21 exchanges.

Ocean Protocol as Large Cap Ethereum based Token is 46th in 2100NEWS ranking (after Index Review of 6th November 2020). It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100.

2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, Score: 18, (Average for Large caps: 17)

Over the past week, the average market cap was $209.7 million, average daily volume was $17.9 million.

In this section, we will examine how the market, with price changes, evaluates project progress. It seems important to us if the project is outside of the usual tide of crypto project prices. In order to make an appropriate peer comparison, we gauged the OCEAN (Ocean Protocol) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100).  On average (violet area chart), the relationship between OCEAN to NWSL100 has shown that it was stronger in the bullish market. Over the last three months, OCEAN has outperformed NWSL100 by 21%. However, if we compare the OCEAN 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 (Pearsons correlation coefficient = 0.85). However, for 95% of the time, it was moving in the same direction as the NWSL100. So, it has been a good representative of the NWSL100 index in terms of price changes.

*The chart below shows the OCEAN compared to NWSL100 at the top, the box in the middle of the chart shows the original OCEAN price, and at the bottom of the chart we see NWSL100 and the correlation between  OCEAN and NWSL100.

According to Etherscan, there are 19,046 token holders (at the time of this article’s writing).

2100NEWS observation:

In the three years since it has existed, the company has made great strides. This year is dedicated to the development and launch of the following products: Marketplace (data marketplace), v2 Compute-to-Data (exchange data while preserving privacy) and Ocean V3 (datatoken). All these products lead to the realization of their goal: an open Data Economy. In the future, they intend to further realize their basic vision, which is to increase community control over the protocol.

About Ocean Protocol – what they do

Ocean Protocol builds powerful Web3 apps for the emerging data economy. Ocean technology allows private data to be shared, without compromising control or security for the data owner, while ensuring traceability, transparency, and trust for all stakeholders involved. Ocean allows data owners to monetize data while keeping control over their data assets.

Ocean Compute-to-Data provides a means to share or monetize one’s data while preserving privacy. Private data can help research, leading to life-altering innovations in science and technology. Compute-to-Data is meant to be useful for data sharing in science or technology contexts. Compute-to-Data is complementary to other technologies such as encryption/decryption, Multi-Party Compute, Trusted Execution Environments, and Homomorphic Encryption. This compatibility and Ocean’s “tools” framing helps make it easy to adopt.

OceanDAO: a DAO to implement community-proposed and curated grants. OceanDAO’s income includes network rewards according to a distribution schedule. OceanDAO closes the loop with the rest of the Ocean System, such that growth in Ocean usage leads to more funding to teams, to work on further growing usage. This helps both short-term growth and long-term sustainability.

General information

Based in Singapore, Ocean Protocol was founded in 2017. The founder is Bruce Pon. The core team and advisors have converged from many different countries and industries.

Exchanges: 0x Protocol, 1inch Exchange, Balancer, Bamboo Relay, Bilaxy, Binance, Binance.KR, Bittrex, BitZ, Dsdaq, Emirex, Gate.io, HBTC, Hotbit, Indodax, KuCoin, MXC.COM, P2PB2B, Poloniex, Uniswap (V2), VCC Exchange.

Website: https://oceanprotocol.com/

You can follow them:      Discord    Medium   Twitter

Do you know more about this topic or would you like to report an error in the text? Leave a comment or email us at info@2100news.com.

The Crypto Highlights are considered the opinion of 2100NEWS and the material is for informational purposes only and 2100NEWS is not soliciting any action based upon such material. The material is not to be construed as an offer or a recommendation to buy or sell a security nor is it to be construed as investment advice. At the time of this article’s writing, the author did not hold any tokens OCEAN.