Weekly Crypto Market Analysis (W03/2019)
In this weekly report, we publish at a glance the key Movements of week 3, 2019, based on the Blue Swan Grading methodology. These metrics are computed daily incorporating Financial, Development, Community and Sentiment information from tens of diverse sources. For more information about Blue Swan Grading please read our public alpha announcement.
Major assets’ performance
As per the Market Dominance chart. BTC is dominating the market with 53.63% market share, where XRP and ETH are quite close in second and third position with 11.17% and 10.69% respectively.
Noteworthy for BCH, despite having 1.88% of market dominance (greater than EOS 1.85%), BCH has been shaky and not consolidating its position into “A” grade during last 30 days.
BTC had a slight decline in development(-0.83%↓) falling into “C” grade of development, this is common for a mature project such as BTC. ETH, on the other hand, was facing some challenges of indecisiveness for development changes with upcoming hardfork. It has shown slight positive development change (1.52%↑) while somewhat negative impact to sentiment change (-10.96%↓), and Community metrics (-4.72%↓).
“A” Grade assets: [ BTC | ETH | LTC | EOS | XRP | TRX | SNT ]
Except for TRX(1.36% ↑) and EOS(0.70% ↑), all other assets of grade “A” were in a slight downtrend over the last 7 days.
After the BTT tokenisation news from TRX, there seem quite a positive sentiment in community members as well as from News and Media channels.
EOS performed moderately on the Market(0.89%↑), Development(2.78%↑) and Sentiment(4.32%↑).
“B” Grade assets: [DOGE | BCH | DASH | OMG | ZRX | GNT | USDT | AE | XLM | SNGLS | ADA]
DOGE stepped down to grade “B” from “A”. With a minor change in price and volume, DOGE had no significant evolution on development, lacking active developers working on the project since a month while industry average rate for the same indicator was 11 developers for top 20 crypto assets. In both, Development as well as Sentiment, with “E” grade in both dimensions. However, it is significative that despite the lack of news or announcements from media outlets, Community members have kept an optimistic tone on all channels tracked. This is perhaps a common trend to observe during current market conditions, in which teams keep their communities engaged albeit there is no significant progress on the projects.
Top Gainers in grade “B” were OmiseGo(1.66%↑), Dash(1.02%↑) and Golem Network Token (0.88%↑).
OMG increased in volume by 27%↑ showing 0.35%↑ in Market dimension. A major influence in OMG grade was Development, which increased by 10.84%↑. OMG has been improving(23.36%↑) its development since last 2 weeks resulting in grade upgrade to “B” from “C” during previous period. For more details on all integral metrics that account for development grade, sign up for the private alpha version of Blue Swan Grading.
Dash registered a positive change in Community sentiment (537%↑). However such sentiment swing was not visible in any of the News channels monitored. Interestingly, we spotted decrease (-87.5% ↓) in the active members of Dash on Twitter. That could potentially signal that changed sentiment can be caused to an offset of skewed optimistic members in a smaller community.
GNT experienced negative swing in both Sentiment and Community by (-97.48%↓) and(-2.44%↓) respectively. It had slightly positive movement on Development(3.62%↑) with 19.30 average daily commits (compared to industry average 2 commits), just under 1 hour between successive commits (average for all “B” grade assets was 2.4 hours) and a technical debt increased to 708 outstanding issues (compare to 688 of top 20 assets). So, to certain extend, the project has active development and the backlog is increasing, which is a positive development outcome.
Most Fluctuating
Stellar (XLM) fluctuated between “C” and “B” grades over the past week. XLM experienced downward negative sentiment trend in both News channels and Community (-18.47%↓) and (-11.32%↓) respectively. Despite these conditions, XLM’s Market (0.95%↑) and Development(0.51%↑) dimensions were stable and slightly positive during the same period.
Weekly Summary
In general, the crypto market showed movements in Development and Community members engagement. Price movements might be caused by some external news factors (e.g. upcoming ETH fork and BTT tokenisation) which shows market analysis is becoming more complex with increased balancing influence of development, sentiment, community dimensions than just financial data as sole contributor for performance.
Stay updated with Blue Swan Grading for insightful data charts and analytics and study possible root-cause correlations. Comment below about your views and subscribe to our Medium channel for more updates on the market.
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