The NWST1100 index has surged by 7.36% over the previous week. Lido DAO (LDO) 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 NWST1100 chart shows the index price has rebounded off the lower trendline. The chart shows momentum indicators: RSI, PPO histogram, PPO lines (at the top), and the breadth indicators at the bottom of the chart; they have risen.
The chart on the right shows The percentage of digital assets trading above a 50-day moving average breadth indicator: Three A50R lines are overbought, and the indicator A50R of the NWST1100 index has moved to the sideways zone. This setup tells us that the crypto markets could continue rising.
* 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 65; RSI, PPO lines, PPO histogram, and the breadth indicators at the bottom of the chart may change direction in the first days of the week and then will resume rising. Based on this setup, I think: a test of 10-day EMA, followed by the rebound and a continuation of the uptrend, is likely. The target will be pivot R1 (+10%).
Performance of various groups of Digital Assets (Coins and Tokens)
The table shows that the total (NWST1100) index has surged by 7.36% 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). Ether has been the best-performing during the previous thirty days (+57.75%).
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 64% lower now. The Percentage Change Marks on the chart show that NWST1100 lagged behind W1Dow by 31.3% over the last 12 months, while this year, NWST1100 was 50.3% lower. The blue curve is the average index price during the previous twelve months. We can see that the NWST1100 spot price is 47.2% 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 47.3% loss today; however, more important for the future is that this level is a great bargain. Global equity (W1Dow) spot price is 9.1% 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 7-29-2022
The Bi-weekly revision updates the amount of each asset publicly available and any additions and deletions from the indexes. Lido DAO Token, Ethereum Name Service, Bitcoin Gold Convex Finance, and Trust Wallet token improved their ranking; they were added to NWSL100 and deleted from NWSM200; Klaytn, Swipe, TonCoin, Skale Network, and TITAN were deleted from NWSL100. New mid-caps are BearnBridge, Biswap, RAMP, etc. Additions and deletions for the other indexes from the family are available in each index presentation.
We gauged the Lido DAO (LDO) 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 LDO has shown that LDO was more potent over the last two months, and LDO has beaten NWSL100 by 49% during the previous three months. First, let’s compare the LDO green area graph with the index (orange area graph) while observing the correlation graph. The correlation graph explains the strong correlation (Pearson’s correlation coefficient = 0.68). 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 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.
Lido DAO (LDO) Website: https://lido.fi/
Quant (LDO) Large-cap Ethereum-based Token is 68th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 11.6 (Average for Large caps: 17.3)
Over the last week, the average market cap was $744.6 million, and the average daily volume was $149.5 million.
Lido is a liquid staking solution for ETH backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – while participating in on-chain activities, e.g., lending. Lido attempts to solve the problems associated with initial ETH staking – illiquidity, immovability, and accessibility – making staked ETH liquid and allowing for participation with any amount of ETH to improve the security of the Ethereum network.
*The chart below shows the LDO compared to NWSL100 at the top. The box in the middle of the chart shows the original price. At the bottom, we see NWSL100 and the correlation between LDO and NWSL100.