Crypto Marketcap, BTC frenzy saves only large caps
The last seven days were negative overall for altcoins of all sizes. BTC catched all the spotlight crossing the 12’000 USD level and pushing towards 13’000. Alts lagged behind. 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, have shown a better performance than their peers during the week.
Twelve coins out of sixteen registered a positive result, with three reporting a double-digit gain. Overall, the results were in a range between -5.11% and +13.97%, with the median result being +1.47%.
The intra-group correlations were slightly lower than usual at 0.60 on average, with Tron (TRX) posting the lowest level at circa 0.35.
Stellar (XLM) had the best week among all the top projects, rising 13.97% to 0.0848 USD. XLM market capitalization is at the moment over 1.75 billion USD.
On the other hand, the worst performing project was again Tezos (XTZ), which closed the week with a -5.11% w/w result.
Our selection of Mid-cap coins reported again the second-worst performance among all our aggregates. The performances ranged from -12.25% to +26.61%. The median performance was -1.49% w/w. Eight coins out of twenty were positive, with one double-digit loss.
The intra-group correlations for mid-cap coins were slightly lower than average with a value of 0.56. Waves (WAVES) posted the lowest value at 0.20.
The best performing project was Waves itself, closing the week at +26.61% w/w with a price of 3.12 USD and a market capitalization of more than 310 million USD.
On the other hand, Theta (THETA) was the worst performer of the group, closing the past seven days at 0.635 USD for a -12.25% w/w return and almost 650 million USD market capitalization.
Our selection of small-cap coins had the worst performance among our aggregates with results ranging from -25.69% to +6.81% w/w and a median value of -5.54%. All the coins but two finished the week with a negative result. Four coins reported a double-digit loss.
The correlation between small projects was higher than past week with an average of 0.31, with Mco (MCO)) posting the lowest value again at 0.10.
The best performer of the week in the group was Holochain (HOT), closing the period at 0.00051 for a +6.81% w/w return and a market capitalization of almost 90 million USD.
Mco (MCO) was the worst performer of the week and recorded a -25.69% w/w result and a price of 3.05 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 21th 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