The NWST1100 index rose 1.99% during the previous week; it made a new high at 8,958, but the bulls could not continue the breakout. Sandbox (SAND) Token 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: An upward move to the Upper Channel was likely, the index price might test the previous high, but a pullback to Pivot P (-8%) was also possible. The NWST1100 chart shows, the index made a new high at 8,958 on Nov. 4, but the bulls could not continue the breakout. The Momentum indicators at the top show: RSI is overbought, PPO histogram, and PPO lines have flattened, the Breadth indicators at the bottom of the chart have risen. The chart on the right shows The percentage of digital assets trading above a 50-days moving average breadth indicator: All four A50R lines are overbought. The graph tells us that an upward trend has continued.
* 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 69 (bullish); PPO lines, RSI, and PPO histogram bars; the Breadth indicators, at the bottom of the chart, may continue rising in the coming days. The waves are at least partially predictable due to their quasi-periodic nature. My opinion is based on this setup: An upward move to Pivot R2 (+11%) is likely; however, in the second leg, a pullback (-10%) will follow.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index rose 1.99% during the previous week. Ethereum Tokens represented by the NWSET100 index have been good performers during the last week. The chart shows that these Tokens and Ether have led the crypto markets upward in the last month.
Crypto (Digital Assets) compared with global equity
The chart compares the performance of the average Digital Asset (Coins, Tokens) represented by our NWST1100 index with the average global share represented by the Dow Jones global W1Dow index. Their quotient hit a record high five months ago; however, it is 10% lower now, which means that shares were a better investment for a while, but this changed four months ago. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 228.1% this year, while over the last 12 months, NWST1100 was 410% 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 64.8% 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 64.8% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow.
Indexes Revision 11-5-2021
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Sandbox, Loopring, and IoTeX improved their ranking; they were added to NWSL100 and deleted from NWSM200. Fetch, Gala, and Kava were deleted from NWSL100. New mid-caps are Frax Share, Olympus, and JASMY… Additions and deletions for the other indexes from the family are available in each index presentation.
We gauged the Sandbox (SAND) Ethereum based Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between NWSL100 and SAND has shown that SAND was more potent over the last two months. SAND has beaten NWSL100 by 176% during the previous two months. First, let’s compare the SAND 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 = 0.70). 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.
The Sandbox (SAND) Website: https://www.sandbox.game/
SAND Large-cap Ethereum based Token is 71st in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 13.1 (Average for Large caps: 16.9)
Over the last week, the average market cap was 2,128.2 million $, and the average daily volume was 3.015.6 million $.
The Sandbox is a community-driven platform where creators can monetize voxel ASSETS and gaming experiences on the blockchain. The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences in the Ethereum blockchain using SAND, the platform’s utility token.
*The chart below shows the SAND compared to NWSL100 at the top, the box in the middle of the chart shows the original SAND price, and at the bottom of the chart, we see NWSL100 and the correlation between SAND and NWSL100.