Crypto Sectors, general rebound led by crypto platforms and tokens

GENERAL OVERVIEW

The last seven days were positive for the cryptocurrency market, which was coming from a difficult week. All our sectors were positive and overperformed BTC.
Platforms and tokens fared better than currencies, which is something we often observe in a bull market.

CURRENCIES

Cryptocurrencies whose main feature is to be used as a medium of exchange were clearly positive during the last seven days with performances ranging from +0.13% to +23.54%. The median value was a positive +7.30% w/w, up circa fifteen points from the previous one.

All the currencies finished the week with a positive result, the exact opposite of what we observed the last time. BTC was positive as well, gaining 4.94% in order to close at 10’897 USD.

Currency cryptos showed a level of correlation in line with last week, with an average of circa 0.58. Beam (BEAM) showed the lowest correlation with its peers “as usual”, approaching 0.49.

Nano (NANO) was the best performing crypto among currencies, closing the week at 0.8674 USD, for a -23.54% w/w return. The project saw some changes in its advisory board which were well received by investors.

The following graph shows the frequency distribution of the value of the cryptocurrencies of the sector with respect to BTC. Bitcoin Cash (BCH) joins NANO as the most improved crypto with respect to last week.

PLATFORMS

The platforms category was the best performer of our sectors together with tokens. The sector performances were significantly positive on average, with results ranging from -11.59% to +31.54% w/w and a median result of +11.41 % w/w, almost 30 points higher than the previous one in an exciting turnaround.

Just two cryptos out of thirty-six finished the week with a negative result. Nineteen cryptos reported a double-digit gain, with seven gains over 20%.

Correlations have been in line with the past week, with an average level approaching 0.48. Tomochain (TOMO) posted the lowest correlation with other cryptocurrency Platforms at 0.27.

Cardano (ADA) was the best crypto platform project of the week, rising to 0.10377 USD for a +31.54% positive performance w/w.

TOKENS

Cryptocurrency tokens were the other top performers among our sectors. Performances ranged from +2.28% to +48.80% and resulted in a +9.85% median value, 27 points higher than the past week. Nine of the cryptocurrencies finished with a double-digit gain.

The intra-sectoral correlation has been in line with past week, with an average level of 0.43. FunFair (FUN) registered at the lowest level approaching 0.31.

OmiseGo (OMG) was the best performer of the tokens sector, closing the period at 3.78 USD with a +48.80% positive performance w/w.

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 on the 28th 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.