Crypto Marketcap, the rally goes on

Crypto Marketcap, the rally goes on

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.

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.

On the other hand, the worst performing project was Cardano (ADA), which still closed the week with a +4.08% result.

MEDIUM PROJECTS

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.

SMALL PROJECTS

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.

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

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