The last seven days were very positive overall for altcoins of all sizes. Bitcoin keeps rising convincingly but is not overshadowing altcoins anymore. Small-cap cryptos in particular registered a stellar performance with the index gaining circa 25 points. Large-caps and mid-caps were not sleeping, however, with the latter overperforming the former and BTC as well.
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, performed worse than their peers but were still convincingly positive.
Just two coins out of sixteen registered a negative result, with seven reporting double-digit gains. Overall, the results were in a range between -0.71% and +26.70%, with the median result being +9.65%, down eight points from the last week.
The intra-group correlations were higher than last week at 0.75 on average, with Bitcoin (BTC) posting the lowest level at circa 0.65.
Chainlink (LINK) had the best week among all the top projects, rising 26.70% to 13.22 USD. LTC market capitalization is at the moment over 5 billion USD.
On the other hand, the worst performing project was Monero (XMR), which closed the week with a -0.71% result w/w.
Our selection of Mid-cap coins reported a very good performance and was second among our groups. All the cryptocurrencies of the group report a gain for the period. The performances ranged from +8.46% to +33.58%. The median performance was +15.60% w/w, improving twentythree points from the previous one. Sixteen coins reported a double-digit gain.
The intra-group correlations for mid-cap coins were slightly lower than the past week with a value of 0.63. Hedera Hashgraph (HBAR) posted the lowest value at 0.38.
The best performing project was Omisego (OMG) closing the week at +33.58% w/w with a price of 33.70 USD and a market capitalization of 500 million USD.
On the other hand, Ravencoin (RVN) was the worst performer of the group, closing the past seven days at 0.013 USD for a +8.46% w/w return and almost 100 million USD market capitalization.
Our selection of small-cap coins had the best performance among our aggregates with results ranging from +7.30% to +50.63% w/w and a median value of +26.29%, circa 35 points higher than the past week. All the coins but three finished the week with a positive result and all but three with a double-digit gain.
The correlation between small projects was higher than last week with an average of 0.49, with Stratis (STRAT) posting the lowest value again at 0.35.
The best performer of the week in the group was Nuls (NULS) closing the period at 0.29 for a +50.63% w/w return and a market capitalization of circa 25 million USD.
BitTorrent (BTT) was the worst performer of the week and recorded a +7.30% w/w result and a price of 0.000294 USD and around 290 million USD market cap after the update of the circulating amount which is going to move it into the mid-caps
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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 11th 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