2100NEWS WEEKLY CRYPTO REPORT Jan-30

The NWST1100 index fell 0.35% over the previous week; a spike in selling sent it to a new bottom, then the index has rebounded. Ecomi (OMI) 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:  a quick and sharp rebound (+20%) to resistance represented by 10-Days EMA was likely. The NWST1100 chart shows that a spike in selling sent the index to a new bottom (4450 points), then the index has experienced a rebound. So far, a rebound was modest in nature and hasn’t been enough to repair technical damage done during January. The Momentum indicators at the top show: RSI, PPO lines, and PPO histogram, and they changed direction to upward as the Breadth indicators at the bottom of the chart. The 14-day RSI line in the upper box was bouncing from oversold territory near 30.

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 oversold and paint a negative picture. They were falling to the lowest level since the middle of 2021. The graph tells us that the broad crypto markets have continued a trend down. The technical damage done during January can be seen more clearly in various measures of market breadth. A modest rebound hasn’t been enough to change the trend.

* 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:

1. 100 Large-caps members of NWSL100 (top box)
2. 1100 members of NWST1100
3. 100 Ethereum Tokens members of NWSET100
4. 100 Coins members of NWSCo100 (bottom box)

Outlook for this week

The waves are at least partially predictable due to their quasi-periodic nature. If we look ahead, the Momentum indicators give us the following signals: RSI is 32; RSI, PPO histogram, and PPO lines may continue direction in the coming days. My opinion is based on this setup:  a move to Pivot P is likely; however, a move to double bottom at 4460 points is still possible.

Performance of various groups of Digital Assets (Coins and Tokens) 

We can see in the table that the total index (NWST1100) fell 0.35% during the previous week. The chart below shows Bitcoin, Ether, and the 2100NEWS DA Indexes, which measure the performance of Ethereum based tokens (NWSET100), Large caps (NWSL100),  Coins (NWSCo100). Bitcoin (-21.09%) has been the best-performing during the previous thirty days.

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 twelve weeks ago; however, it is 43.9% lower now. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 54% over the last 12 months, while this year, NWST1100 was 23.4% lower. The blue curve is the average index price during the previous twelve months. We can see that the W1Dow spot price and the NWST1100 spot price are lower than twelve months index’s average price. That means: If we bought one NWST1100 every day over the last twelve months, our investment is recording a 19.5% loss today.  It may be a good time to invest when investment is cheaper.

*The box in the middle of the chart shows the original NWST1100 price; at the bottom is W1Dow. 

Indexes Revision 1-28-2022

The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. BORA and Moonbeam improved their ranking; they were added to NWSL100 and deleted from NWSM200. Ethereum Name Service and UMA were deleted from NWSL100. New mid-caps are LooksRare, DEAPcoin, Chia … Additions and deletions for the other indexes from the family are available in each index presentation.

Winner member

To make an appropriate peer comparison, we gauged the Ecomi (OMI) Coin with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). On average (violet area chart), the relationship between NWSL100  and OMI has shown that OMI was more potent over the last two months. OMI has beaten NWSL100  by 64% during the previous two months. First, let’s compare the OMI green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains that the correlation is weak (Pearson’s correlation coefficient = 0.334. 65% of the time, it was moving in the same direction as the NWSL100. So, it has been a poor representative of the NWSL100 index regarding 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 project’s progress 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. 

OMI Large-cap Coin is 69th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 11.2 (Average for Large caps: 16.6)

Over the last week, the average market cap was 1,372.0 million $, and the average daily volume was 12.3 million $.

ECOMI – a technology company based in Singapore that aims to lead the way in the emerging digital collectibles space and protect digital assets. ECOMI aims to create the world’s best platform to purchase, protect and collect premium licensed digital collectibles using Distributed Ledger Technology. ECOMI consists of two elements: the ECOMI Collect ecosystem and the ECOMI Secure Storage Wallet. To facilitate the purchase and trade of digital collectibles, ECOMI Collect utilizes the OMI token. There will only be 750 Billion OMI tokens minted, and these are purchased during the ICO, through the ECOMI Collect app, or on an exchange. The OMI tokens will be GO20 standard, whereas the digital collectibles are GO721 (NFTs). When a collectible purchase is made, the OMI tokens will be exchanged for the NFT. The NFT will be sent to the user’s Ecomi Collect app and become theirs rightfully, while the OMI tokens used for the purchase are discarded to a locked address.

*The chart below shows the OMIcompared to NWSL100 at the top, the box in the middle of the chart shows the original OMIprice, and at the bottom of the chart, we see NWSL100 and the correlation between  OMIand NWSL100.