Crypto Sectors, no one is left behind

GENERAL OVERVIEW

The last seven days were very positive overall for the cryptocurrency market, which is continuing to rise regardless of the sectors. Currencies, platforms and tokens finished with pretty similar performances overall, with investors not being focused so much on sectors for the past week.

CURRENCIES

Cryptocurrencies whose main feature is to be used as a medium of exchange were carried by BTC in terms of performance, even if three cryptos even managed to do better. the overall performance was positive overall, with performances ranging from -5.22% to +19.77%. The median value was a positive +7.96% w/w, up more than five points since the previous one.

All but three cryptos finished the week with a positive result, with no double-digit losses. Bitcoin closed at 16’584 USD USD for a +8.93% w/w gain.

Currency cryptos showed a low level of correlation at 0.39. Hypercash (HC) showed again the lowest correlation with its peers, approaching 0.25.

Litecoin (LTC) was the best coin, closing at 70.59 USD for a +19.77% w/w gain. The coin was able to overperform BTC together with XRP and ZEC in a revamp of “legacy” crypto projects.

The following graph shows the frequency distribution of the value of the cryptocurrencies of the sector with respect to BTC. LTC was the only one able to finish the week favourably against it.

PLATFORMS

The platforms category performed positively and in line with our other sectors. Results ranged from -2.07% to +36.47% w/w and a median result of +3.35 % w/w, in line with the last week.

Just fourive cryptos out of thirty-six finished the week with a negative result. On the other hand, there were six double-digit gains.

TOKENS

Cryptocurrency tokens have shown a very solid performance as well. Performances ranged from -8.11% to +16.13% and resulted in a +3.70% median value, which is in line with last week. Three of the cryptocurrencies finished with a loss and there were three double-digit gains.

The intra-sectoral correlation has been the lowest among our groups with an average level of 0.36. Civic (CVC) registered at the lowest level approaching 0.07.

iExec RLC (RLC) was the best performer of the tokens sector, closing the period at 1.01 USD with a +16.13% 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 16th November 2020. USD
and USDT are used interchngeably 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.