Crypto Marketcap, widespread suffering

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.

LARGE-CAP CRYPTOS

The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, were the worst aggregate of the last week.

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.

On the other hand, the worst performing project was Dash (DASH), which closed the week with a -13.13% result.

MEDIUM PROJECTS

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.

SMALL PROJECTS

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.

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 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