Last week, NWST1100 dropped 5.18%; Bitcoin became fuel for a broad rally in the crypto market, so its dominance fell. Tokens soared. Voyager Token is a member of the NWSL100 crypto index that made the biggest 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 key price information, important decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for last week had been: a downward trend and consolidation were more likely. The dizzying rise and precipitous decline — nearly 20% in 24 hours. The NWST1100 chart shows that the assumption proved to be correct. At the top, we see momentum indicators: PPO lines, RSI, and PPO histogram continued falling.
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 67; PPO lines may continue direction. PPO histogram bars may change direction (up) in the coming days. The Breadth indicators at the bottom of the chart may flatten out. My opinion is based on this constellation: a sideways trend and consolidation are more likely; Crypto markets will be volatile, full of abrupt turnarounds, with up to 15 percent falls and further rebounds.
Crypto Cycle and the Intermarket relationships
The chart below shows three stages in the last month.
Stage 1: The Bitcoin rally (On the left side of the chart: Bitcoin outperformed Ether, Tokens, and Coins in December)
Stage 2: Ether led crypto markets up (the area on the chart between the brown and green vertical lines)
Stage 3: Consolidation (last week – on the right side of the chart). Bitcoin became fuel for a broad rally in the market, so its dominance fell. Tokens soared.
Performance of different groups of Digital Assets (Coins and Tokens)
The total (NWST1100) index dropped by 5.18%. The table below shows that the Bitcoin and Ether represented by the NWSBE index recorded massive losses over the last week; on the other hand, Tokens reported gains.
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. Two weeks ago, a new record high was hit. The Percentage Change Marks on the chart show that this year NWST1100 outperformed W1Dow by 28.8%, while over the last 12 months, NWST1100 was 252% higher. The blue curve is the average index price over the last twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 176.9% higher than twelve months index average price. This means: If we bought one NWST1100 every day over the last twelve months, our investment is recording 176.9% 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 1-15-2021
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 NWSL100 and NWSM200. As we can see on the tables: Voyager Token, TomoChain, and district0x have improved their rankings; they were added to NWSL100, they were deleted from NWSM200. Bitcoin Cash ABC, Enjin Coin, and Numeraire were deleted from NWSL100, and they are new members of NWSM200. New mid-caps are Rewardiqa, reef Finance, DerivaDEX… Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the Voyager Token (VGX) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between VGX and NWSL100 has shown that it was stronger. VGX has beaten NWSL100 by 194% over the last three months. However, if we compare the VGX green area graph with the orange index area graph while observing the correlation graph, the correlation graph explains that the correlation is semistrong (Pearson’s correlation coefficient = 0.64). 88% 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 biggest 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.
Voyager Token (VGX) Website: https://www.ethos.io
VGX Large-Cap Ethereum based Token is 66th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100
2100NEWS DA Orderbook Quality Evaluation Grade: Good, 17.1 (Average for Largecaps: 17.1)
Over the last week, the average market cap was 215.0 million $, and the average daily volume was 19.9 million $.
Voyager is a licensed crypto broker, not just another exchange. Voyager connects to the world’s leading market makers and liquidity providers to ensure their users get a better price on their trades, maximum liquidity on every order, and the greatest access to the crypto market. Voyager offers investors commission-free trading of dozens of top crypto assets from one secure and trusted app.
*The chart below shows the VGX compared to NWSL100 at the top, the box in the middle of the chart shows the original VGX price, and at the bottom of the chart, we see NWSL100 and the correlation between VGX and NWSL100.