2100NEWS WEEKLY CRYPTO REPORT Feb-13

The NWST1100 index rose 1.04% over the previous week; the week’s rally failure occurred near the upper trendline. UNUS SED LEO (LEO) 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: a breakout from the triangle was likely (+10%), then the index price might test resistance represented by 143-day EMA. The NWST1100 chart shows that Thursday’s CPI report pushed stocks and crypto sharply lower. Inflation rose 7.5% on an annual basis, the highest number in four decades (since 1982). Week’s rally failure in crypto markets occurred near the symmetrical triangle’s upper trendline, which was acting as an overhead resistance barrier. The Momentum indicators at the top show: RSI, PPO lines, and PPO histogram, and they changed direction to downward. The Breadth indicators at the bottom of the chart have flattened.

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 (below 30). In various measures of market breadth on the chart can be seen more clearly that the rebound was not enough to change the downtrend.

* 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 48; RSI, PPO histogram, and PPO lines may continue direction down in the coming days; however, they could change direction by the end of the week. My opinion is based on this setup:  a move near the lower trendline of the symmetrical triangle is likely.

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

We can see in the table that the total index (NWST1100) rose 1.04% 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 (-1.56%) 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 three months ago; however, it is 39.2% lower now. The Percentage Change Marks on the chart show that NWST1100 outperformed W1Dow by 10% over the last 12 months, while this year, NWST1100 was 17% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 12.5% 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 12.5% loss today.  However, the relatively cheaper NWST1100 index gives investors good buying opportunities.

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

Indexes Revision 2-11-2022

The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. New mid-caps are SafeMoon, Bonfida, SSV NEtwork … Additions and deletions for the other indexes from the family are available in each index presentation.

Winner member

We gauged the UNUS SED LEO (LEO) 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 LEO has shown that LEO was more potent over the last two months. LEO has beaten NWSL100  by 127% during the previous two months. First, let’s compare the LEO 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 = -0.23. 70% 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. 

UNUS SED LEO (LEO) Website: https://leo.bitfinex.com/

UNUS SED LEO Large-cap Ethereum based Token is 34th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100

2100NEWS DA Orderbook Quality Evaluation Grade:  Poor, 14.8 (Average for Large caps: 16.6)

Over the last week, the average market cap was 5,519.8 million $, and the average daily volume was 14.0 million $.

iFinex Inc. (iFinex), a privately-held financial technology company incorporated in the British Virgin Islands, operates virtual currency trading platforms under the business name Bitfinex and provides numerous other cryptocurrency and cryptoasset-related products and services.

*The chart below shows the LEO compared to NWSL100 at the top, the box in the middle of the chart shows the original LEO price, and at the bottom of the chart, we see NWSL100 and the correlation between  LEO and NWSL100.