Weekly Marketcap Report, Small-caps defy the weakness led by Stratis (STRAT)

cryptocurrency market capitalization index  jun 17

In this report, we try to provide an overview of the crypto market during the last week with a different focus with respect to our other analyses. The focus will indeed be on market capitalization and based on this parameter the projects have been divided into three groups: top, medium, and small*. For each category, we provide insights about the overall performance of the group, the correlation between the various group components, and a special focus on the best/worst performing projects of each group.

Top coins in terms of market capitalization posted the worst result overall as already mentioned for the second consecutive week. This time, however, they shared the worst spot in terms of performances with Mid-cap coins. On the other hand, BTC was able to close the week on a more positive tone and finished better than both. The overall effect resulted in a basically unchanged level of BTC dominance.

crypto market cap correlation matrix jun 17
matrix regression crypto market cap jun 17

The level of correlation between the three groups was higher than last week on aggregate. Small-cap and Top coins registered the lowest level of correlation at 0.88.

TOP PROJECTS

table return cryptocurrency top jun 17

The Top projects, i.e. our selection of projects with a high market capitalization, were the worst performing group during the past seven days, following the same result registered the last week.

Just one coin out of sixteen registered a positive result, with one also reporting adouble-digit loss. Overall, the results were in a range between -10.85% and +0.07%, with the median result being -5.95%, about five percentage points lower than last week. Losses were not so significant in absolute terms for the crypto world. Still, it is Worth noting that the market is now in a much more weak position in terms of trend and mood if compared with a couple weeks ago.

correlation matrix top cryptocurrency jun 17

The intra-group correlations were higher than last week at 0.87 on average, with Monero (XMR) posting the lowest level at circa 0.8.

best top coin price graph jun 17

Cardano (ADA) had the best week among all the top projects, rising 0.07% to 0.08167 USD. ADA market capitalization is now over 2.1 billion USD.
The coin is now besting the field for weeks now and the Shelley upgrade of its mainnet is now just two weeks away. It was the only project in the group able to close with a positive performance, albeit minimal.

On the other hand, the worst performing project was Neo (NEO), which closed the week with a -10.65% w/w price decrease.

worst top coin price graph jun 17

MEDIUM PROJECTS

return table cryptocurrency mid-cap  jun 17

Our selection of Mid-cap coins reported a negative performances overall and was the worst aggregate this week together with Top coins. The performances ranged from -16.52% to +9.79%. The median performance was a -5.7% w/w, which is 8 percentage points lower than the one reported last week. Just two coins reported double-digit gains, while four reported a double-digit loss, namely Icon (ICX), Cosmos (ATOM), 0x (ZRX) and Enjin (ENJ).

correlation matrix mid-cap crypto jun 17

The intra-group correlations for Mid-cap coins were significantly higher with respect to last week, with an overall average value of 0.64. Algorand (ALGO) posted the lowest value at 0.5 .

best midcap coin price jun 17

On the other hand, Enjin (ENJ) was the worst performer of the group for the second consecutive week, closing the past seven days at 0.17 USD for a -15.52% w/w return and around 140 million USD market capitalization.

worst midcap coin price jun 17

SMALL PROJECTS

small cap cryptocurrency return jun 17
small cap crypto correlation matrix  jun 17

The correlation between small projects was in line with last week with an average of 0.21, with Mithril (MITH) posting the lowest level approaching 0.15.

The best performer of the week in the group was Stratis (STRAT), closing the period at 0.4897 for a +26.64% w/w return and a market capitalization approaching 50 million USD. The project is now up circa 60% since the start of the year..

best smallcap coin price jun 17

Tomochain (TOMO) was the worst performer of the week and recorded a -15.88% result and a price of 0.42 USD.

worst smallcap coin price jun 17

DISCLAIMER

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 15:00 UTC on the 17th of June 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.