Crypto Marketcap, all eyes still on BTC

The last seven days saw another very positive week for BTC, which rose almost 20 percentage points in order to approach 28’000 USD. Altcoins were again not able to keep the pace of BTC. However, the week was positive overall for crypto projects of all sizes. Bitcoin’s dominance is near to the tops of the summer ’19, with other coins due for a recovery in relative terms.

LARGE-CAP CRYPTOS

The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, had a positive week, in line with our other aggregates.

The intra-group correlations were lower than last week at 0.61 on average, with Binance Coin (BNB) posting the lowest level at circa 0.47.

On the other hand, the worst performing project was again Ripple (XRP), which closed the week with a -25.67% result.

MEDIUM PROJECTS

The intra-group correlations for mid-cap coins were in line with the past weeks with a value of 0.60. Theta (THETA) posted the lowest value at 0.45.

SMALL PROJECTS

The correlation between small projects was in line with last week with an average of 0.40, with Mithril (MITH) posting the lowest value again at 0.21.

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