Crypto Marketcap, size doesn’t matter in front of BTC
The last seven days were negative overall for altcoins of all sizes. Bitcoin was still the only focus of investors and even pushed to close the week at its high. At the same time, dimension did not actually play a relevant role, with a very similar performance across our size indexes.
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, performed in line with their peers despite the negative overall result.
Just two coins out of sixteen registered a positive result, with five reporting double-digit losses. Overall, the results were in a range between -13.53% and +6.27%, with the median result being -8.41%, down eight points from the last week.
The intra-group correlations were slightly higher than last week at 0.66 on average, with Dash (DASH) posting the lowest level at circa 0.55.
Litecoin (LTC) had the best week among all the top projects, rising 6.27% to 14’010 USD. LTC market capitalization is at the moment over 260 billion USD.
On the other hand, the worst performing project was Neo (NEO), which closed the week with a -13.53% result.
Our selection of Mid-cap coins reported performance in line with the other groups. Just two coins were able to report a gain for the period. The performances ranged from -16.71% to +7.57%. The median performance was -8.72% w/w, worsening less than one point from the previous one. Four coins reported a double-digit loss.
The intra-group correlations for mid-cap coins were slightly lower than the past week with a value of 0.53. Ravencoin (RVN) posted the lowest value at 0.44.
The best performing project was Ravencoin (RVN) closing the week at +7.57% w/w with a price of 0.0119 USD and a market capitalization of almost 90 million USD.
On the other hand, Algorand (ALGO) was the worst performer of the group, closing the past seven days at 0.23 USD for a -16.61% w/w return and circa 260 million USD market capitalization.
Our selection of small-cap coins had the worst performance among our aggregates with results ranging from -18.43% to +5.52% w/w and a median value of -9.67%, half a point lower than the past week. All the coins but three finished the week with a negative result. Seven coins reported a double-digit loss.
The correlation between small projects was in line with last week with an average of 0.33, with Stratis (STRAT)) posting the lowest value again at 0.27.
The best performer of the week in the group was BlockStack (STX) closing the period at 0.1509 for a +15.52% w/w return and a market capitalization of circa 100 million USD.
Mco (MCO) was the worst performer of the week and recorded a -18.73% w/w result and a price of 0.48 USD and around 37 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 4th November 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