Last week, NWST1100 plummeted by 15.09%; the index price moved downward in a more significant sideways trend. Crypto.com (CRO) is a member of the NWSL100 crypto index that made the most significant jump in our ranking over the last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100), representing the top 1100 Digital Assets. 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 last week had been: a consolidation and move downward in a more significant sideways trend was more likely; index price could test support represented by 25-Days EMA (20 percent fall). The NWST1100 chart shows that the assumption proved to be correct. At the top, we see momentum indicators: PPO and PPO histogram continued falling. The Breadth indicators at the bottom of the chart have changed direction and started falling.
The chart on the right shows: three A50R lines were overbought, but the total market A50R (NWST1100) was not. This reading is characteristic of a sideways trend, or the so-called trading range. A market can enter a trading range as part of a period of consolidation before rallying higher. The market will edge sideways until its trendline can catch up to its movement.
* 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
Looking ahead, the Momentum indicators give us the following signals: the RSI is 54; PPO histogram bars and PPO lines may change direction (up) in the coming days. The Breadth indicators at the bottom of the chart may continue falling. My opinion is based on this constellation: a consolidation and move upward in a more significant sideways trend is more likely, index price may hoover near 10-Days EMA.
Performance of different groups of Digital Assets (Coins and Tokens)
The total (NWST1100) index plummeted 15.09%.
Crypto (Digital Assets) compared with global equity
We have already shown the superiority of crypto investments as a new investment class. The chart compares the performance of the average represented by our NWST1100 Digital Asset index with the average global share represented by the Dow Jones global W1Dow index. A record high was hit two weeks ago. The Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 98.3%, while over the last 12 months, NWST1100 was 372% 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 217.7% 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 217.7% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom of the chart is W1Dow.
Indexes Revision 2-26-2021
The Bi-weekly revision update both the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below, there are additions and deletions from NWS30, NWSL100, and NWSM200. As we can see on the tables: Crypto.com Chain, Akash Network, and gala have improved their rankings; they were added to NWSL100, they were deleted from NWSM200. Siacoin, Enjin Coin, and Lisk were deleted from NWSL100, and they are new members of NWSM200. New mid-caps are Tornado Cash, Auto, Anyswap… Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the Crypto.com Coin (CRO) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between CRO and NWSL100 has shown that it was more potent over the last two weeks. NWSL100 has outperformed CRO by 20% during the previous three months. However, let’s compare the CRO green area graph with the orange index area graph while observing the correlation graph. The correlation graph explains that the correlation is strong (Pearson’s correlation coefficient = 0.79). However, 75% of the time, 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. Considering an investor’s point of view, peer comparison should be efficient and effective.
Crypto.com (CRO) Website: https://crypto.com/
CRO Large-Cap Ethereum based Token is 31st in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTO100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary, 17.1 (Average for Largecaps: 17.6)
Over the last week, the average market cap was 3,662.2 million $, and the average daily volume was 275.2 million $.
Crypto.com Coin (CRO) is the native cryptocurrency token of Crypto.com Chain — a decentralized, open-source blockchain developed by the Crypto.com payment, trading, and financial services company. Crypto.com Chain is one of the products in Crypto.com’s lineup of solutions designed to accelerate the global adoption of cryptocurrencies as a means of increasing personal control over money, safeguarding user data, and protecting users’ identities. The CRO blockchain serves primarily as a vehicle that powers the Crypto.com Pay mobile payments app.
In the future, Crypto.com plans to expand the reach of the CRO platform to power its other products as well.
*The chart below shows the CRO compared to NWSL100 at the top, the box in the middle of the chart shows the original CRO price, and at the bottom of the chart, we see NWSL100 and the correlation between CRO and NWSL100.