The last seven days were great again for the cryptocurrency market. Bitcoin was even able to get to 50’000 USD for the first time, providing an additional boost that the market needed in order to go higher. Actually, altcoins of each size overperformed BTC pretty comfortably on aggregate. Small-caps performed better than their peers, even if the overperformance was not significant all things considered.
Even if the market seems to be in a great shape, it is worth mentioning that BTC dominance is still over 60%. That is to say, there is further margin to grow for altcoins in relative terms.
LARGE-CAP CRYPTOS
The Large projects, i.e. our selection of cryptocurrencies with a high market capitalization, had a great week even if they finished at the last place among our aggregates.
All the coins registered a positive result and all but three reported double-digit gains. Overall, the results were in a range between +4.08% and +87.38%, with the median result being +22.36%.
The intra-group correlations were in line with their usual level at 0.58 on average, with Dash (DASH) posting the lowest level at circa 0.49.
Dash (DASH) had the best week among all the top projects, rising 87.38% to 251.78 USD. LTC market capitalization is at the moment over 2.1 billion USD.
On the other hand, the worst performing project was Cardano (ADA), which still closed the week with a +4.08% result.
MEDIUM PROJECTS
Our selection of Mid-cap coins reported the second-best performance among our aggregates during the past week. The performances ranged from -32.12% to +104.47%. The median performance was +33.09% w/w.
The intra-group correlations for mid-cap coins have been in line with the past weeks with a value of 0.46. Enjin (ENJ) posted the lowest value at 0.32.
The best performing project was Icon (ICX) itself closing the week at +104.47% w/w with a price of 1.86 USD and a market capitalization of over 450 million USD.
On the other hand, Dogecoin (DOGE) was the worst performer of the group, closing the past seven days at 0.051 USD for a -32.12% w/w return and under 6.6 billion USD market capitalization. DOGE is still a candidate to get into the large-caps aggregate if its impressive recent rally proves to be not a fluke.
SMALL PROJECTS
Our selection of small-cap coins had the best week overall, with results ranging from +4.84% to +97.13% w/w and a median value of +29.67%, the best among our groups. None of the coins reported negative results and just two weren’t able to grow at a double-digit rate
The correlation between small projects was in line with the other aggregates with an average of 0.44, with Iotex (IOTX) posting the lowest value at 0.32.
The best performer of the week in the group was Iost (IOST) closing the period at 0.041 for a +97.13% w/w return and a market capitalization of circa 670 million USD after the impressive rally of the last weeks which will boost it up to mid-caps if kept.
Coti (COTI) was the worst performer of the week and recorded a +4.84% w/w result, a price of 0.12 USD and around 88 million USD market capitalization.
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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
