Crypto Marketcap , small-caps fall while mid and large hold

The last seven days saw a positive performance from BTC, while for Altcoins it was a different story. Small-caps in particular have lost ground, while large-cap and mid-cap cryptocurrencies finished the week basically on par.

This represents a clear inversion of the recent trend which lead BTC dominance to fall down to 56% in the weeks before the last one. While Altcoins’ weakness is not a good sign per se, we cannot but mention how an uptrend of the price for BTC is always a good sign for the cryptocurrency market and usually leads to good performances for Altcoins as well.

The level of correlation between the three groups was as high as usual. Small-cap and Large-cap coins registered the lowest level of correlation among the different groups.

LARGE PROJECTS

The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, performed on par for the week on aggregate.

10 coins registered a positive result, with 2 of them reporting a double-digit gain and an equal amount of double-digit losses. Overall, the results were in a range between -19.89% and +20.84%, with the median result being +1.54%.

The intra-group correlations were not so high at 0.65 on average, with Binance Coni (BNB) posting the lowest level at circa 0.42.

Neo (NEO) had the best week among all the top projects, rising 20.84% to 21.47 USD. NEO market capitalization is now over 1.5 billion USD.

On the other hand, the worst performing project was Tron (TRX), which closed the week with a -19.89% w/w result.

MEDIUM PROJECTS

Our selection of Mid-cap coins reported a quiet performance as well, basically finishing the week where it started on an aggregate level. The performances ranged from -7.34% to +21.12%. The median performance was -1.92% w/w. Seven coins reported positive results, with two double-digit gains.

The intra-group correlations for mid-cap coins were slightly lower than large-caps with an overall average value of 0.55. Ontology (ONT) posted the lowest value at 0.38.

The best performing project was Ontology (ONT), closing the week at +21.12% w/w with a price of 0.84 USD and a market capitalization of over 570 million USD.

On the other hand, Algorand (ALGO) was the worst performer of the group, closing the past seven days at 0.35 USD for a -7.34% w/w return and around 360 million USD market capitalization.

SMALL PROJECTS

Our selection of small-cap coins had the worst performance among our aggregates with results ranging from -47.97% to +12.19% w/w and a median value of -4.24%, which is clearly negative albeit not dramatically low. Just four coins out of sixteen finished the week with a positive result. Six coins reported a double-digit loss.

The correlation between small projects was again the lowest among our groups with an average of 0.37, with Bitshares (BTS) posting the lowest value at 0.14.

The best performer of the week in the group was Mco (MCO), closing the period at 4.67 for a +12.19% w/w return and a market capitalization of over 70 million USD.

Bitshares (BTS) was the worst performer of the week and recorded a -47.97% w/w result and a price of 0.026 USD an an 82 million USD marketcap.

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 16th of September 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