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.
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, had a positive week, in line with our other aggregates.
Nine coins out of sixteen registered a positive result, with the one double-digit loss due to the ongoing troubles of XRP. Overall, the results were in a range between -25.67% and +25.18%, with the median result being +1.81%, almost 12 points better than the last week.
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.
Cardano (ADA) had the best week once again among all the top projects, rising 25.18% to 0.1798 USD. LTC market capitalization is at the moment over 5.6 billion USD.
On the other hand, the worst performing project was again Ripple (XRP), which closed the week with a -25.67% result.
Our selection of Mid-cap coins also reported a positive performance in line with its peers. Just five cryptocurrencies were negative for the period. The performances ranged from -6.86% to +35.61%. The median performance was +2.37% w/w, circa 14 points better than the past one.
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.
The best performing project was VeChain (VET) closing the week at +35.61% w/w with a price of 0.0195 USD and a market capitalization of over 1.2 billion USD.
On the other hand, OmiseGO (OMG) was the worst performer of the group again, closing the past seven days at 2.43 USD for a -6.86% w/w return and circa 660 million USD market capitalization.
Our selection of small-cap coins had an overall good week as well with results ranging from -13.97% to +89.78% w/w and a median value of -2.91%, the worst among our groups. Two coins finished with a double-digit loss, while the top performance skewed the general one.
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.
The best performer of the week in the group was again Mithril (MITH) closing the period at 0.014 for a +89.78% w/w return and a market capitalization of circa 15 million USD.
Nuls (NULS) was the worst performer of the week and recorded a -13.97% w/w result, a price of 0.20 USD and around 20 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