Last week, NWST1100 fell 4.67%; the NWSBE index (Bitcoin and Ether) led the way down. Dent (DENT) is a member of the NWSL100 crypto index that made the most significant jump in our ranking over the last two weeks.
*Below, we present a standardized weekly report and next week’s outlook. We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100), representing the top 1100 Digital Assets. The information-laden chart is difficult to read initially, but the chart shows essential price information, crucial decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for last week had been: a move downward in a more significant sideways trend was more likely; index price might test 25-Days EMA (13 percent fall). Crypto markets would be volatile, with solid rebounds. The NWST1100 chart shows that the assumption proved to be correct. Index price tested 25-Days EMA and have rebounded. At the top, we see momentum indicators: PPO and PPO histogram changed direction. The Breadth indicators at the bottom of the chart changed direction, too.
The chart on the right shows: All four A50R lines were overbought, and all four changed direction in the middle of the week.
* The percentage of digital assets trading above a specific moving average is a breadth indicator that measures internal strength or weakness in the underlying index. The chart on the right side compares the percentage of DA trading above 50 days EMA for:
- 100 Large-caps members of NWSL100 (top box)
- 1100 members of NWST1100
- 100 Ethereum Tokens members of NWSET100
- 100 Coins members of NWSCo100 (bottom box)
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 64 (bullish); PPO histogram bars, PPO lines, the Breadth indicators at the bottom of the chart, and all four A50R lines may continue direction (up) in the coming days. My opinion is based on this constellation: a move upward is more likely, the market is ready for the next (third) break-out attempt and, if successful, could reach resistance R2 (+15%); otherwise, we will see a fast pullback and return to the trading range.
Performance of different groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index fell 4.67% during the last week. NWSBE index (Bitcoin and Ether) led the way down.
Crypto (Digital Assets) compared with global equity
Crypto investments are still a superior new investment class. The chart 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 Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 132.9%, while over the last 12 months, NWST1100 was 601% higher. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 197% higher than twelve months index average price. That means: If we bought one NWST1100 every day over the last twelve months, our investment is recording 197% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom of the chart is W1Dow.
Indexes Revision 3-26-2021
The Bi-weekly revision update both the amount of each asset publicly available and any additions and deletions from the indexes. Dent, HArmony, and Pundi X improved their rankings; they were added to NWSL100, so they were deleted from NWSM200. Nano, Hifi Finance, and Band Protocol were deleted from NWSL100. New mid-caps are MovieBloc, Big Data Protocol, Oxen … Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the Dent (DENT) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between DENT and NWSL100 has shown that it was more potent over the last two months. DENT has outperformed NWSL100 by 1,228% during the previous three months. However, let’s compare the DENT green area graph with the orange index area graph while observing the correlation graph. The correlation graph explains that the correlation is semi-strong (Pearson’s correlation coefficient = 0.63). However, 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.
*We elect the member of the NWSL100 crypto index with the most significant 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.
Dent (DENT) Website: https://www.dentwireless.com/
DENT Large-Cap Ethereum based Token is 85th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTO100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 14.3 (Average for Tokens: 16.3)
Over the last week, the average market cap was 897.6 million $, and the average daily volume was 278.8 million $.
Dent is a decentralized exchange of mobile data. It’s an Ethereum-based blockchain network, enabling mobile data to be marketed, purchased, or distributed through an electronic charge procedure, much like tokens or items. The data sets are Ethereum’s smart arrangements. It is expected that the DENT coin can buy mobile data from the Dent system. DENT enables a “Data Sharing Economy” in which people can quickly buy and sell their mobile data from any user to another one. DENT aids data packages’ automated buying capacity for users and IoT devices.
*The chart below shows the DENT compared to NWSL100 at the top, the box in the middle of the chart shows the original DENT price, and at the bottom of the chart, we see NWSL100 and the correlation between DENT and NWSL100.