The last seven days were negative overall for altcoins of all sizes. Bitcoin took a breath and closed down circa 3%. Alts followed and, while the market did not crush, it wasn’t certainly a prosecution of these past weeks’ good mood. Bitcoin still overperformed alts, while top projects were surprisingly overperformed, albeit slightly, both from mid-caps and small-caps.
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, were the worst aggregate of the last week.
Just one coin out of sixteen registered a positive result, with four double-digit losses. Overall, the results were in a range between -13.13% and +4.59%, with the median result being -7.89%, again one of the worst results recently observed.
The intra-group correlations were higher than last week at 0.76 on average, with Monero (XMR) posting the lowest level at circa 0.69.
Monero (XMR) had the best week among all the top projects, rising 4.59% to 132.17 USD. XMR market capitalization is at the moment over 2 billion USD.
On the other hand, the worst performing project was Dash (DASH), which closed the week with a -13.13% result.
Our selection of Mid-cap coins also reported a bad performance and was the second among our groups in terms of performance. Just four cryptocurrencies were able to avoid a loss for the period. The performances ranged from -14.56% to +14.44%. The median performance was -9.96% w/w and ten coins reported a double-digit gain.
The intra-group correlations for mid-cap coins were in line with the past weeks with a value of 0.61. Hedera Hashgraph (HBAR) posted the lowest value at 0.43.
The best performing project was Waves (WAVES) closing the week at +14.44% w/w with a price of 8.25 USD and a market capitalization of over 900 million USD.
On the other hand, OmiseGo OMG) was the worst performer of the group, closing the past seven days at 3.26 USD for a -14.56% w/w return and almost 450 million USD market capitalization.
Our selection of small-cap coins had the best performance among our aggregates with results ranging from -11.85% to +11.53% w/w and a median value of -6.17%, the best among our groups. All the coins but three finished the week with a negative result and four with a double-digit loss.
The correlation between small projects was higher than last week with an average of 0.46, with Nuls (NULS) posting the lowest value again at 0.37.
The best performer of the week in the group was Blockstack (STX) closing the period at 0.27 for a +11.53% w/w return and a market capitalization of circa 190 million USD.
Ren (REN) was the worst performer of the week and recorded a -11.85% w/w result and a price of 0.29 USD and around 250 million USD market capitalization.
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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