Medium projects’ 2020 correlation trend, HBAR is offering some benefit.The correlation matrices above show the evolution of correlation between medium-sized crypto projects during 2020.
Relatively small levels of correlation in January and February were followed by really high levels in March, when the market fell down with BTC.
The correlation matrix for our selection of Token projects in the last 30 days show the usual pretty high levels overall. Cortex (CTXC) was the only project able to report a level significantly below 0.5. Enjin (ENJ) was the only other project showing a relatively low level of correlation with the group. We did not feature Token correlations in our Monthly Crypto Recap of yesterday.
The last thirty days saw a general strong uptrend for the market. Bitcoin paved the way with a very strong performance which cancelled the fallback of March. Altcoins followed united, with all the sectors and the sizes of projects which performed very well on aggregate.
The graphs above show how BTC has recently overperformed all its peers among currency projects. All the other currencies are trading at the lower end of their relative frequency distribution of price in satoshis.
The incoming halving event is clearly catching the majority of investors’ attention with respect to currencies.
GENERAL OVERVIEW In this report, we try to provide an overview of the crypto market during the last […]
It was a great month for the market with all the projects finishing with a considerable gain. Among the projects finishing around 70% up, Stellar Lumens had the best risk/return profile.
The graph above show the performance of the crypto market cap-based indexes. The index based on Top projects was the best performer in the last month, followed by Medium capitalized projects and Small projects.
Each of the groups performed better than BTC, in a typical setting for a rising cryptocurrency market.
The Platform sector keeps rolling and bested the field also in the past seven days. However, the week was again very positive overall, with tokens and Bitcoin also in very good shape. A trend is starting to emerge, which is BTC convincingly overperforming its peers in the aggregate Currency sector. The main reason behind this trend could be the incoming BTC halving. Still, all the sectors experienced a positive week and there is no structural need to worry about currencies.
The table above show the correlation matrix between small projects during the past 30 days. Enjin (ENJ) offers some diversification benefit with respect to the others. Overall correlation levels are still pretty high, as we will see tomorrow in our weekly market cap report.
The table above show the correlations among top cryptocurrency projects during the last 30 days. The sample is made of the projects that we cover in our Weekly Crypto Report. Chainlink (LINK), DASH (DASH) and Stellar Lumens (XLM) show the lowest level of correlation in the group, which could lead to some diversification benefit.