Last week, NWST1100 soared 15.90%; all groups of coins and tokens, represented by 2100NEWS indexes, have reported massive gains since the middle of July. Swipe (SXP) Token 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. First, we gauge the crypto market breadth and direction by showing charts 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 (by market capitalization) major crypto assets’ performance. 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 the last week had been: the test of resistance, represented by pivot R2, was more likely (+10%); the test might be followed by a pullback to 25-days EMA. The NWST1100 chart shows that the index had tested the resistance R2 and consolidated. The Momentum indicators at the top show: PPO lines, and the Breadth indicators at the bottom of the chart have risen; RSI and PPO histogram changed direction. The PF chart on the left shows that the index has done much of the way to the target.
The chart on the right shows breadth indicators: All A50R lines were overbought. We can see sharp and fast (4 weeks) move from oversold to overbought conditions. The graph tells us that the most explosive part of the growth is probably already behind us.
* 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 RSI is 74 (bullish and overbought); RSI and PPO histogram bars may continue direction downward; PPO lines may change direction, the Breadth indicators, at the bottom of the chart, may continue direction in the coming days. My opinion is based on this constellation: markets could start a consolidation; however, the trend is upward. A pullback to 25-days EMA (-15%) followed by a sharp rebound will happen sooner or later.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index soared 15.90% during the last week. The coins, represented by the NWSC0100 index, have led the crypto markets on the way up. The chart shows that all groups of coins and tokens, represented by 2100NEWS indexes, have reported massive gains since the middle of July.
Crypto (Digital Assets) compared with global equity
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. Their quotient hit a record high more than three months ago; however, it plunged by 32%, which means that shares were a better investment in April and May, but this completely changed four weeks ago. The Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 156.6%, while over the last 12 months, NWST1100 was 311% 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 68.9% 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 68.9% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow.
Indexes Revision 8-13-2021
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Mina, Swipe, and Kava improved their rankings; they were added to NWSL100, so they were deleted from NWSM200. Fei Protocol, TITAN, and KuCoin Token were deleted from NWSL100, and they are new members of NWSM200. New mid-caps are Coin98, Alchemy Pay, and PlayDapp … Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the Swipe (SXP ) Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between SXP and NWSL100 has shown that it was more potent over the last three months. SXP has outperformed NWSL100 by 60% during the previous three months. First, let’s compare the SXP green area graph with the orange index area graph while observing the correlation graph. The correlation graph explains that the correlation is strong (Pearson’s correlation coefficient = 0.69). 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.
Swipe (SXP) Website: https://www.swipe.i0/
SXP Large-Cap Ethereum based Token is 94th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Good, 17.7 (Average for Tokens: 14.5)
Over the last week, the average market cap was 484.5 million $, and the average daily volume was 162.5 million $.
The Swipe Wallet has been designed to require Swipe Tokens SXP to perform all functions of the Wallet. Users on the Swipe Wallet will be able to buy, sell, and pay with their cryptocurrencies to fiat directly within the wallet application and purchase Gift Cards and make instant exchanges between all supported assets. Users will be able to use their SXP tokens at launch with tiered benefits based on the SXP balance in the Wallet Contract. All Swipe Wallets require a 1 SXP deposit to activate and utilize on-chain functions based on an audited Smart Wallet Contract to perform its duties. The protocol has been designed and built on Ethereum.
*The chart below shows the SXP compared to NWSL100 at the top, the box in the middle of the chart shows the original SXP price, and at the bottom of the chart, we see NWSL100 and the correlation between SXP and NWSL100.