Crypto Marketcap, large-caps hold the ground while smallest projects drop
The last seven days saw a very negative performance for altcoins, which suffered from a sudden BTC downward movement at the start of the week and were not able to recover afterwards. Small-caps suffered the most, followed by mid-caps and large-caps.
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, held better than their peers during the week.
Just four of the coins registered a positive result, with none reporting a double-digit gain. Overall, the results were in a range between -11.07% and +9.42%, with the median result being -3.16%, seven points lower than the past week.
The intra-group correlations were slightly lower than last week at 0.75 on average, with Monero (XMR) posting the lowest level at circa 0.54.
Monero (XMR) had the best week among all the top projects, rising 9.42% to 110.31 USD. XMR market capitalization is at the moment over 1.9 billion USD.
On the other hand, the worst performing project was again Neo (NEO), which closed the week with a -11.07% w/w result.
Our selection of Mid-cap coins reported the second-worst performance among all our aggregates. The performances ranged from -18.14% to +1.02%. The median performance was -9.65% w/w, fifteen points worse than the past week. All but one of the coins were negative, with ten double-digit losses.
The intra-group correlations for mid-cap coins were higher than last week with an overall average value of 0.64. Hedera Hashgraph posted the lowest value at 0.49.
The best performing project was Theta (THETA), closing the week at +1.02% w/w with a price of 0.7299 USD and a market capitalization of more than 600 million USD.
On the other hand, VeChain (VET) was the worst performer of the group, closing the past seven days at 0.01086 USD for a -18.14% w/w return and more than 700 million USD market capitalization.
Our selection of small-cap coins had the worst performance among our aggregates with results ranging from -38.24% to -1.90% w/w and a median value of -11.21%, which is fifteen percentage points worse than past week’s result. All the coins finished the week with a negative result. Eleven coins reported a double-digit loss.
The correlation between small projects was higher than past week with an average of 0.48, with Tomochain (TOMO) posting the lowest value again at 0.27.
The best performer of the week in the group was BitTorrent (BTT), closing the period at 0.00032 for a -1.90% w/w return and a market capitalization of over 300 million USD.
Tomochain (TOMO) was the worst performer of the week and recorded a -38.24% w/w result and a price of 0.6792 USD and around 50 million USD market cap.
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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 7th of 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