The last week was a moderately good one for the market, which is currently in a lateral/consolidation phase in which some of the altcoins are significantly recovering ground with respect to BTC and BTC itself is seemingly still experiencing an uptrend.
Still, Bitcoin seemingly did not care, closing at 9’445 USD, down 2.41% w/w.
Overall, top projects slightly overperformed BTC on aggregate and this is reflected in our indexes.
All in all, BTC bested the majority of our selection of top crypto projects, but still, some managed to overperform it so significantly that the overall result favors the top projects’ index. On average, results ranged from -1.86% to +20.88% w/w with a median value of +1.43% w/2.
On the other hand, Ripple (XRP) was the worst project in our sample, despite not even losing 2% of its value during the week.
In a wider period, ADA keeps being the best performer, with this week’s result making it a clear lead over its peers, distancing the second place holder NEO (NEO) of circa 20 percentage points in terms of return.
Looking at the last seven days’ price range, all the projects seem to be in the upper half of their price range, with IOTA( IOTA) the nearest to the half point, confirming the positive tone of the market during the last days.
We proceed to have a look at the frequency distributions of the coins’ price in terms of satoshis to have a look at the relative performances. ADA and ETH are trading at their highest level of the week relative to BTC, with the former actually trading at the far right tail of the distribution, where it would need a consolidation in order to keep the current price level as the new “fair”.
In a wider period, ADA has no rival as far as relative positioning with respect to BTC regards.
The views expressed in this report reflect the analysts’ personal views about the cryptocurrencies subject of the report. These views may change without notice and are subject to market conditions. The report is prepared for information purposes only and by no means constitutes a solicitation to investment or disinvestment. All the data are taken from Binance at 14:00 UTC on the 29th of May 2020. USD and USDT are used interchangeably for illustration purposes. All the presented valuations, indicators, and analyses are subject to errors. The report is for personal use only and should not be republished or redistributed.