In the past week, NWST1100 index finally succumbed to bearish pressure. In my opinion, it made a fake breakout down from Symmetrical triangle. Total NWST1100 index dropped by 8.64%. Atlas Protocol (ATP) is the NWSL100 crypto index member which made the biggest jump in our ranking last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
In the previous report, our assumption was that a more likely course for the past week would be a move to the upper trendline but NWST1100 finally succumbed to bearish pressure. In my opinion, it made a fake breakout down from Symmetrical triangle. The NWST1100 was bearing down on its Bollinger and last month’s low which was an important test. The index survived last week’s selling and remaining above chart support at prior lows.
Looking ahead to the next week, the indicators give us the following signals: we can see that RSI is 33, the brown PPO histogram bars could change a slope and start the positive wave in the next few days. As a momentum indicator, it could get upside momentum. As a consequence, the PPO wave could change the slope. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume are flattening out. This set up is the basis, that for the next week is a more likely course a move to 25-days EMA. It is possible that the move will extend to the upper trendline.
Performance of different groups of Digital Assets (Coins and Tokens)
At the table, you can see that Total (NWST1100) index dropped by 8.64% in the past week.
Crypto (Digital Assets) compared with global equity
On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared over 70% but over the past twelve weeks, we were observing a consolidation. Last two months NWST1100 reported 31.7% loss vs. W1Dow.
Indexes Revision 8-30-2019
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 Atlas Protocol, Golem, Wanchain … have improved their rankings they were added to NWSL100 and deleted from NWSM200. OKEX utility token, Status, U NEtwork … were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Beldex, Dynamic Trading Rights, BQT … Other additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peers comparison we gauged the Atlas Protocol (ATP) token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the original ATP price, in the middle of the chart is ATP vs. NWSL100, at the bottom of the chart are NWSL100 and correlation between ATP and NWSL100. However, the correlation graph gives us an explanation that for 80% of the time, it was moving in the opposite direction as the NWSL100. In the last four months, he has not been a typical representative of the NWSL100 index in terms of price changes. Since the beginning of August ATP has grown and beaten the NWSL100, it has soared by more than 180%.
Atlas Protocol (ATP)
ATP as Large-cap Non-Ethereum based Token is 50 in 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSOT50, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, Score: 6.9, (Average for Large caps: 9.5)
Over the past week, the average market cap was 77.5 million $, average daily volume was 4.4 million $.
Atlas Protocol is an application layer protocol of tokenized marketing and is incubated by Nebulas Labs (Nebulabs) and xGoogler Blockchain Alliance (xGBA). The project aims to construct a technical stack that will enable a new onchain interactive ads paradigm. With the target ranking of on-chain activities and token to enable value circulation, Atlas Protocol presents a new interactive marketing media that based on blockchain transactions, defining marketing interactions among onchain audiences. By exploring a new form of on-chain interactive advertising, Atlas Protocol contributes to bring new increments to the blockchain world, eliminate information asymmetry and build the Blockchain Traffic Alliance.