Crypto Sectors, ZIL shines in a platforms and tokens debacle

GENERAL OVERVIEW

The last seven days negative positive for the cryptocurrency market, which is still struggling to find a clear direction and is in a lateral phase. All our sectors were negative, with currencies overperforming both tokens and platforms.

CURRENCIES

Cryptocurrencies whose main feature is to be used as a medium of exchange were the best sector during the last seven days, but still negative overall, with performances ranging from -10.89% to +13.13%. The median value was a negative -1.94% w/w, down circa ten points from the previous one.

Just three currencies finished the week with a positive result, with two double-digit gains. BTC was slightly negative, losing 1.39% of its value in order to close with a price of 10’731 USD.

Currency cryptos showed a higher level of correlation with respect to last week at 0.63. Monero (XMR) showed the lowest correlation with its peers, approaching 0.55.

Zcash (ZEC) was the best performing crypto among currencies, closing the week at 64.7 USD, for a +13.13% 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 Ripple (XRP) joins ZEC and Monero (XMR) as the coins with the best setting with respect to BTC.

PLATFORMS

The platforms category was the second-worst performer of our sectors behind tokens. The sector performances were significantly negative on average, with results ranging from -16.67% to +32.22% w/w and a median result of +-5.92 % w/w, seventeen points lower than the previous one.

Just six cryptos out of thirty-six finished the week with a positive result. On the other hand, there were eight double-digit losses.

Correlations have been higher than the past week, with an average level approaching 0.55. Tomochain (TOMO) posted the lowest correlation with other cryptocurrency Platforms at 0.20.

Zilliqa (ZIL) was the best crypto platform project of the week, rising to 0.02097 USD for a +32.22% positive performance w/w.

TOKENS

Cryptocurrency tokens were the worst performers among our sectors. Performances ranged from -22.02.28% to +15.10% and resulted in a -6.09% median value, sixteen points lower than the past week. Three of the cryptocurrencies finished with a double-digit loss.

The intra-sectoral correlation has been higher than the past week as well, with an average level of 0.49. Pundi X (NPXS) registered at the lowest level approaching 0.37.

Ren (REN) was the best performer of the tokens sector, closing the period at 0.27253 USD with a +15.10% 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 5th October 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.