2100NEWS WEEKLY CRYPTO REPORT Apr-24



The NWST1100 index has fallen by 1.75% over the previous week; the Rally failed. 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: “After double bottom, this level could open the doors for a possible rally to the 143-Day EMA (red curve). Less likely but possible was that support S1 would not hold (resumption of downtrend).”. The NWST1100 chart shows that the index had rallied to Pivot P, but the Rally failed, and the index has fallen. The Momentum indicators at the top show: RSI, PPO lines, and the breadth indicators at the bottom of the chart. These indicators were in a downtrend.

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 readings (belove 30). In various measures of market breadth on the chart can be seen more clearly that crypto markets were in a 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 37; RSI, PPO histogram, PPO lines, the Breadth indicators at the bottom of the chart may change direction and start rising in the coming days.  My opinion is based on this setup: the downtrend may last, and a move to support S1 is likely, but a rebound and move to Pivot P by the end of the week is expected, too.

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

We can see in the table that the total index (NWST1100) has fallen by 1.75% 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), and Coins (NWSCo100). Ether (-9.39%) 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 five months ago; however, it is 37.7% lower now. The Percentage Change Marks on the chart show that NWST1100 lagged behind  W1Dow by 5.9% over the last 12 months, while this year, NWST1100 was 14.1% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 14.7% 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 14.7% loss today.  Global equity (W1Dow) spot price is 7.4% lower than twelve months index’s average price.

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

Indexes Revision 4-22-2022

The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Serum improved its ranking; it was added to NWSL100 and deleted from NWSM200, and Kadena was deleted from NWSL100. New mid-caps are Chain, Arcala Network, and Lido for Solana… Additions and deletions for the other indexes from the family are available in each index presentation.

 

Winner member

We gauged the Serum (SRM) Large-cap Coin 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 SRM has shown that SRM was more potent over the last two months, and SRM has beaten NWSL100  by 24% during the previous two 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 = 0.93. It was moving in the same direction as the NWSL100. So, it has been a good 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. 

 

SRM

Serum (SRM) Website: https://www.projectserum.com/

Serum (SRM) Large-cap Coin is 92nd in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSCo100

2100NEWS DA Orderbook Quality Evaluation Grade:  Good, 21 (Average for Large caps: 17.2)


Over the last week, the average market cap was 588.5 million $, and the average daily volume was 92.9 million $.

Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance (DeFi). Serum is the only high-performant DEX designed around a fully on-chain central limit order book and matching engine. Ecosystem partners can compose with Serum’s on-chain orderbook to share liquidity and power their trading features for institutional and retail users.
The SRM utility and governance token enables users to receive discounts on protocol fees and voting rights; 100% of exchange fees flow back to SRM via buy-and-burn, staking rewards, and ecosystem grants.
Serum is an open-source project created by a consortium of partners, including FTX, Alameda Research, and the Solana Foundation.

*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.



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We are the new economy news hub. 2100NEWS is the professional index, data, and tools provider in the digital asset space, offering Crypto Market Intelligence, providing the perspective you can trust and equipping you with information edge you need to stay ahead. (Real-time data of token issuers and news, analysis and commentary from community.) We are very excited to contribute to the evolution of the industry and build an ecosystem around our offering (the institutional-grade data infrastructure required to enable institutional investments in digital assets). We want our contributions (Contents and Tools on 2100NEWS.com) to be useful for helping investors.


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