The NWST1100 index has fallen by 2.91% over the previous week. Toncoin (TON) Large-cap Ethereum-based 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 last week’s assumption. “The NWST1100 price was on the verge of a bearish continuation; it would test support, but a bearish continuation was less likely.” The NWST1100 chart shows the index price has risen in a narrow range; by the end of the week, EMA Cross (10,25) caused a drop near the support. The chart shows momentum indicators: RSI, PPO histogram, PPO lines (at the top), and the breadth indicators at the bottom. PPO histogram has flattened, and the others have fallen.
The chart on the right shows The percentage of digital assets trading above a 50-day moving average breadth indicator: All four A50R lines are oversold. Possible is a fast rebound like in September 2021 or two months downtrend like in April 2022.
* 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
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 lines, PPO histogram, and the breadth indicators at the bottom of the chart may change direction in the coming days. The index price is near solid support (2500 points), and if the support holds, indicators will change direction to upward. Based on this setup, I think the NWST1100 price is on the verge of a bearish continuation, which is equally likely as a rebound.
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index has fallen by 2.91% over the last week. On the chart below, we can see Bitcoin, Ether, and the 2100NEWS DA Indexes, which measure the performance of Ethereum-based tokens (NWSET100), Large caps (NWSL100), and Coins (NWSCo100). Ethereum-based tokens (represented by NWSET100) have been the best-performing during the previous thirty days (-11.57%).
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 nine months ago; however, it is 67% lower now. The Percentage Change Marks on the chart show that NWST1100 lagged behind W1Dow by 53.6% over the last 12 months, while this year, NWST1100 was 55.1% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 51.9% 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 51.9% loss today. Global equity (W1Dow) spot price is 10.1% 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 8-26-2022
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. TonCoin improved its ranking; it was added to NWSL100 and deleted from NWSM200; Convex Finance was deleted from NWSL100. New mid-caps are ABBC Coin, Ampleforth, Orbit Chain, etc. Additions and deletions for the other indexes from the family are available in each index presentation.
We gauged the Toncoin (TON) Large-cap 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 TON has shown that TON was more potent over the last two months, and TON has beaten NWSL100 by 26% during the previous two months. First, let’s compare the TON green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains the weak correlation (Pearson’s correlation coefficient = 0.4). 66% 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 examine 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.
Toncoin (TON) Website: https://ton.org/
Toncoin (TON) Large-cap Ethereum-based Token is 81st in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 8.2 (Average for Large caps: 17.2)
Over the last week, the average market cap was $898.4 million, and the average daily volume was $5.2 million.
TON blockchain-based ecosystem is a fast, secure, and scalable blockchain and network project, capable of handling millions of transactions per second if necessary and both user-friendly and service provider-friendly. Apart from processing millions of transactions per second, TON blockchain-based ecosystem has all the chances to give rise to a genuine Web3.0 Internet with decentralized storage, anonymous network, DNS, instant payments, and various decentralized services. The founding team aims for it to be able to host all reasonable applications currently proposed and conceived. One might think of TON as a vastly distributed supercomputer, a vast “superserver” intended to host and provide various services. The TON Blockchain’s principal cryptocurrency, particularly its masterchain and basic workchain, is the TON Coin. It is used to make deposits required to become a validator; transaction fees, gas payments (i.e., smart-contract message processing fees), and persistent storage payments are usually collected in TON coins.
*The chart below shows the TON compared to NWSL100 at the top, the box in the middle of the chart shows the original price, and at the bottom of the chart, we see NWSL100 and the correlation between TON and NWSL100.