The last seven days saw very positive performances overall in the cryptocurrency market, with coins of all sizes registering sensible increases. All our indexes overperformed BTC, with Small-caps leading the group, followed by Medium and Large coins.
The mood of the market was steadily good during the week with just a momentary break during the last day.
The level of correlation between the three groups was significantly low. Small-cap and Large-cap coins registered the lowest level of correlation among the different groups.
The Large projects, i.e. our selection of coins with a high market capitalization, performed positively for the week, albeit not significantly.
Just 5 coins registered a positive result, with three of them reporting a double-digit gain compared to zero double-digit losses. Overall, the results were in a range between -6.77% and +61.64.33%, with the median result being +-1.50% and the overall result of the index clearly skewed by an outlier in Chainlink (LINK).
The intra-group correlations were in line with last week at 0.58 on average, with LINK posting the lowest level at circa 0.27.
LINK had the best week among all the top projects, rising 61.64% to 15.27 USD. LINK market capitalization is now over 5 billion USD.
On the other hand, the worst performing project was Litecoin (LTC), which closed the week with a -6.77% w/w result.
Our selection of Mid-cap coins reported a very positive performance overall, just below the Small-caps’ one. The performances ranged from -8.70% to +39.72%. The median performance was +11.77% w/w. 17 coins reported positive results, with twelve double-digit gains.
The intra-group correlations for Mid-cap coins were in line with last week with an overall average value of 0.41. Waves (WAVES)posted the lowest value at 0.26.
The best performing project was Algorand (ALGO), closing the week at +39.72% w/w with a price of 0.4661 USD and a market capitalization of over 360 million USD.
On the other hand, ZCash (ZEC) was the worst performer of the group, closing the past seven days at 83.96 USD for a -8.70% w/w return and around 800 million USD market capitalization.
Our selection of small-cap coins had the best performance among our aggregates with results ranging from +1.27% to +58.08% w/w and a median value of +29.03%, which is particularly impressive. Just one coin out of sixteen finished the week without a double-digit gain. Altseason was in full swing mode for Small-caps.
The correlation between small projects was again the lowest among our groups with an average of 0.25, with Bittorrent (BTT) posting the lowest value at 0.16.
The best performer of the week in the group was Coti (COTI), closing the period at 0.07463 for a +58.08% w/w return and a market capitalization of over 40 million USD.
Mithril (MITH) was the worst performer of the week and recorded a +1.27% w/w result and a price of 5.34 USD.
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 12th of August 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