In the last 30 days, Holo (HOT) and Zilliqa (ZIL) reported the lowest correlation levels among platform projects we follow. As reported by the matrix above, the two projects were the only two with a level below 0.5. In particular, HOT reported a level of 0.41 with the peers, while ZIL settled at 0.43.
With less than 10 days to the much anticipated halving event, Bitcoin clearly overperformed the rest of our sectors during the past seven days. BTC crossed the 9000 USD mark on April 30th after crossing the 8000 USD mark on April 29th. It reached a high of 9460 USD and then fell back under 9000 USD after facing the resistance line coming from the all time high price and passing through the relative peak levels.
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 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 last seven days saw a generally positive performance of the market, with some volatility sparkled by BTC trading over and under the 7000 USD level. At the end of the period, Bitcoin recorded a performance of +5.43% w/w, good for a close at 7065 USD.
The past 30 days have been great for crypto platform projects and for Chainlink (LINK) in particular. The […]