GOin Market Watch #4, insights for digital assets investors.

Alice de GOin
Feb 14 · 8 min read

Every Week, GOin gives the keys to understand trends in the Crypto Market to investors.

GLOBAL MARKET OVERVIEW

Period from February 11tth 2018 to February 10th 2019 — GMT close

Bullish week for crypto assets that has driven the global market capitalization back to its mid-January levels — USD 122 bn. In the meantime traded volumes have pursued their upward slope with a USD 17.8 bn daily average over the past week compared to a USD 17.4 bn daily average over the previous one.

In the news:

  • Nasdaq have led a USD 20m Funding Round for Blockchain startup Symbiont
  • Western Union has been testing Ripple technology towards speedy cross-border payments

1-year evolution of global market capitalization

  • Global market capitalization has decreased by 68.8% over the past year
  • Over the past week, global market capitalization has increased by 7.8%

Over the past week:

  • BTC has slightly underperformed the market (+6.6%), holding its 53% market share
  • XRP has also underperformed the market (+2.5%), ETH has however increased by 16.2%

1-year evolution of global traded volumes

  • Weekly traded volumes have decreased by 30.8% over the past year and have increased by 2.6% over the past week
  • On a general note, market activity has remained sustained since the beginning of the year, especially when compared to the second half of 2018 or to global market capitalization
  • Over the past week, BTC weekly traded volumes have increased by 2.7%, driving the increase of global traded volumes
  • On the over hand, ETH weekly traded volumes have remained quite stable (+1.0%) while XRP weekly traded volumes have dropped by 17.4%

1-year evolution of 60-day volatility

  • BTC 60-day volatility has decreased from 147.7% to 73.7% over the past year, in line with the market

Over the same period:

  • ETH 60-day volatility has decreased from 150.1% to 111.1%
  • XRP 60-day volatility has decreased from 297.0% to 84.4%, getting closer to current market standards

ZOOM ON TOP 50 SAMPLE

The Top 50 sample is determined every week according to the following methodology:

1) Ranking of crypto assets by market capitalization

2) Elimination of crypto assets that:

  • Have less than 3 months of trading history
  • Are stable coins
  • Are subject to publicly known issues — trading or storage failures, fraud suspicions, technical flaws in the underlying technologies

The complete list of currently eliminated crypto assets can be found here: https://www.goin-invest.com/index/fuseki/.

3) The remaining 50 largest market capitalizations are selected for analysis

7-day performance in USD

As of February 10th 2019 — GMT close

  • Good week with a 6.6% median performance, driven by a market surge on February 8th (+9.4% median daily performance)
  • Only 6 crypto assets have a negative performance among the top 50 sample
  • THETA’s outstanding performance (+54.0%) has been driven by a few announcements — including Mainnet Launch scheduled for March 15th 2019
  • LTC has also benefited from the announcement of their partnership with Beam to investigate ‘MimbleWimble’ protocol (+40.0% over the week)
  • BNB price increase (+36.7%) has been boosted by the burn of 1,623,818 BNB in January, as well as the launch of Binance debit and credit card payment solution

7-day traded volumes

As of February 10th 2019 — GMT close

  • Increase of weekly traded volumes by 1.4% compared to last week
  • The increase has been driven by the 40.3% rise in LTC weekly traded volumes but slowed down by the 17.4% decrease in XRP weekly traded volumes
  • Steady top 5 that represents 61.4% of global traded volumes and 88.9% of traded volumes on the top 50 sample

Average daily traded volumes/market capitalizations

As of February 10th 2019 — GMT close

  • Stable top 5 with QTUM, ZEC, LTC and DASH remaining at the top positions
  • Small increase of traded volumes combined with strong increase of market capitalizations lead to a decrease of the average ratio (from 12.4% to 11.2%)
  • The decrease has been driven by the top 5 (13.7% average decrease)

7-day annualized volatility

As of February 10th 2019 — GMT close

  • Rising volatility in a dynamic market (median value from 65% to 76%)
  • New increase of the gap between the highest and the lowest levels (128% difference between the most and the least volatile last week, 234% this week)
  • Due to its 7-day volatility increase (from 30% to 56%), BTC has been excluded from the top 5 less volatile crypto assets

90-day correlation to BTC

As of February 10th 2019 — GMT close

  • Correlation to BTC has still been slowly decreasing: -0.015 in median value and -0.063 in average value compared to last week
  • The 5 strongest correlations to BTC have remained high (-0.007 in average compared to last week) while the 5 least have underwent a stronger decrease (-0.0241 in average)
  • There have still not been significant negative correlation to BTC and only 3 coins with negative correlations to BTC (WAVES, TRX and HOT)

ZOOM ON GOin’s INDICES

7- day performances

As of February 10th 2019 — GMT close

Source: www.coinmarketcap.com, GOin
  • All FUSEKI indices have benefited from the market upswing and strongly outperformed both the market and the Top 50 sample with performance ranging from 9.0% to 13.0%
  • The FUSEKI has been the least performing index since its initial weights of LTC and XLM proved to be unfavorable
  • The FUSEKI WPX has been the most performing index due to the higher weight of LTC and the entry of BNB during the week

Constituents’ contributions to index performance

Period from February 3rd 2019 to February 10th 2019 — GMT close

Top upwards pulling:

  • LTC. Outstanding performance (+40.0% over the week) that has driven the performance of all FUSEKI Indices (from +4.75 points for the FUSEKI to +11.88 points for the FUSEKI WP)
  • BAT. Strong performance (+12.7% over the week) that mainly benefited the FUSEKI WPX (+2.51 points), the FUSEKI and the FUSEKI WP (+1.82 points)
  • BTC. Also strong performance (+6.5% over the week) that has especially benefited the FUSEKI WL (+1.34 points) and the FUSEKI WP (+1.69 points)

Other noticeable impact:

  • BNB. BNB (+36.7% over the week) has entered the FUSEKI WPX 5 times during the week, making a significant contribution to its performance (+6.68 points)

Downwards pulling:

  • XLM. The XLM has been the only constituent with a negative performance over the week (-1.2%), but its impact on the FUSEKI indices remained limited

7-day correlation of index constituents

As of February 10th 2019 — GMT close

  • Strong increase in correlation to BTC: 0.87 average value this week (compared to 0.70 for the previous period) and 0.93 median value (compared to 0.78)
  • Correlation to BTC has been the highest (0.87 in average), correlation to XLM the smallest (0.61 in average)

Rebalancing

As of February 11th — At rebalancing price

Source: GOin
  • No change in the top 3 given their relatively low volatility levels compared to other crypto assets
  • Out: LTC due to an increase in volatility, MKR and LSK due to their low traded volumes
  • In: BNB, XTZ and BTM due to a decrease in volatility

Average rotation rates

As of February 11th — At rebalancing price

Source: GOin
  • Small increase of average weekly rotation rates over 1 year
  • Very high rotation rates this week as 3 crypto assets have entered the Indices (BNB, XTZ and BTM) to replace LTC, MKR and LSK

1- year performances compared to BTC and ETH

As of February 10th 2019 — GMT close

  • BTC and ETH prices have decreased by 54.6% and 84.7% over the past year
  • In the meantime, the FUSEKI indices decreased by between 67.2% (FUSEKI WPX) and 73.3% (FUSEKI WL)

DISCLAIMER

This publication is for discussion and informational purpose only. No statement nor information presented in this document shall be considered an investment advice.

No statement nor information presented in this document shall be considered a solicitation to buy or an offer to sell a security, or any other product or service, to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction.

The data provided and calculation presented are for illustrational purpose only, and GOin shall not have any liability, contingent or otherwise, for the accuracy, completeness, timeliness or correct sequencing of any information provided by GOin or for any decision or action taken by you in reliance upon such information. Past performance does not guarantee future results.

GOin, a French SAS registered in Paris, France under French law owns a) all registered design, trademark, service mark rights and copyright; b) all intellectual property and any other rights and interests in this publication.

Crypto asset markets are young and highly volatile, which means crypto asset investments are particularly risky. Before investing in crypto assets, you need to be aware of and accept that you might be exposed to the following risks: a) market risk; b) risk of partial or total loss of capital; c) currency risk; d) liquidity risk; e) regulatory risk; f) technological risk; g) risk of theft or fraud; h) any other risk related to crypto asset investment.

To learn more about GOin and its offer you can visit www.GOin-invest.com, and connect with us on social media to stay up to date with the latest news:

GOin-Invest

Built on top of a state-of-the-art trading platform, GOin provides performing crypto asset investments.

Alice de GOin

Written by

I represent the amazing GOin project across social networks. We aim at simplifying investments into crypto assets. I would be happy to answer your questions :

GOin-Invest

Built on top of a state-of-the-art trading platform, GOin provides performing crypto asset investments.

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