The NWST1100 index rose 8.74% during the previous week; it moved to the resistance R1. Serum (SRM) Coin is a member of the NWSL100 crypto index, making the most significant jump in our ranking over the last two weeks.
*Below, we present a standardized weekly report and next week’s outlook, prepared based on Swingtum Theory of intelligent finance. We gauge the crypto market’s breadth and direction by showing charts 2100NEWS Digital Assets Total Index (NWST1100), which measures 1100 (by market capitalization) significant 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: Upward move was likely, the index price might test the resistance R1 (+10%); if that level did not hold, the index could go higher (8000 points – September high). The NWST1100 chart shows that the assumption proved correct. The Momentum indicators at the top show: PPO lines, RSI, and PPO histogram; they have risen, as have risen the Breadth indicators at the bottom of the chart. The chart on the right shows The percentage of digital assets trading above a 50-days moving average breadth indicator: For all A50R lines, we can see a sharp and fast move from oversold conditions during the previous two weeks. The graph tells us that the sideways trend has been in place.
* 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
If we look ahead, the Momentum indicators give us the following signals: RSI is 67 (bullish); PPO lines may continue rising, RSI and PPO histogram bars may change direction; the Breadth indicators, at the bottom of the chart, may continue rising in the coming days. The chart below includes two breadth indicators that work together. The area plots the McClellan Summation Index. That’s a long-term measure of market breadth. The histogram is the McClellan Oscillator. That’s a short-term measure of market breadth. The Oscillator has spent most of the previous week above zero, which is bullish and may last one week more because the fluctuations are at least partially predictable due to their quasi-periodic nature.
My opinion is based on this constellation: markets could start the consolidation; the index could get stuck in a narrow range between resistance near 8000 points (+6%) and 10-Days EMA.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index rose 8.74% during the previous week. The chart shows that Bitcoin has led the crypto markets upward during the last two weeks; the Coins represented by the NWSCo100 index were lagging.
Crypto (Digital Assets) compared with global equity
The chart compares the performance of the average (Coins, Tokens) 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 four months ago; however, it plunged by 19%, which means that shares were a better investment for a while, but this changed three months ago. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 195.4% this year, while over the last 12 months, NWST1100 was 470% 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 57.0% 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 57.0% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow.
Indexes Revision 10-8-2021
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Serum, dYdX, Ecomi improved their rankings; they were added to NWSL100, so they were deleted from NWSM200. Decred, Creditcoin, and Bitcoin cash ABC were deleted from NWSL100. New mid-caps are LINK, Standard Tokenization Protocol, and Quickswap… Additions and deletions for the other indexes from the family are available in each index presentation.
To make an appropriate peer comparison, we gauged the Serum (SRM) Coin with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). On average (violet area chart), the relationship between NWSL100 and SRM has shown that SRM was more potent over the last three months. SRM has beaten NWSL100 by 33% during the previous three months. First, let’s compare the SRM green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains that the correlation is strong (Pearson’s correlation coefficient = 0.84). 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. Peer comparison should be efficient and effective, considering an investor’s point of view.
Serum (SRM) Website: https://www.projectserum.com/
SRM Large-cap Coin is 65th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100
2100NEWS DA Orderbook Quality Evaluation Grade: Good, 21 (Average for Large caps: 16.7)
Over the last week, the average market cap was 1,080.8 million $, and the average daily volume was 314.0 million $.
Serum is crypto developed by Serum. Serum is the world’s first completely decentralized derivatives exchange with trustless cross-chain trading brought to you by Project Serum, collaborating with a consortium of crypto trading and DeFi experts. While they built the Serum protocol, it is permissionless – they do not hold extraordinary power anymore. It is up to you, the crypto community, to use it as you will. Serum is a stablecoin that is always worth a dollar but also doesn’t rely on a bank account not getting shut down. It supports the best technology from centralized exchanges; no need to take a step back with automated market making.
*The chart below shows the SRM compared to NWSL100 at the top, the box in the middle of the chart shows the original SRM price, and at the bottom of the chart, we see NWSL100 and the correlation between SRM and NWSL100.