GOin Market Watch #7, insights for digital assets investors.

Alice de GOin
Mar 13 · 8 min read

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

GLOBAL MARKET OVERVIEW

Period from March 11th 2018 to March 10th 2019 — GMT close in USD

Over the past week, global market capitalization has increased from USD 128.9 bn as of March 3rd to USD 134.1 bn as of March 10th. The market downturn on March 4th (-2.7%) has been canceled by a quick recovery on March 5th (+5.0%) and a solid global performance on March 9th (+2.1%).

As for traded volumes, they have kept up their momentum as weekly traded volumes have set a new annual record at USD 220.6 bn over the past week, compared to a USD 113.4 bn weekly average since the beginning of the year.

In the news:

  • Binance Labs and Argentine government partnering to support blockchain startups
  • Blockchain ETF launched on London Stock Exchange

1-year evolution of global market capitalization

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

Global market capitalization has decreased by 65.1% over the past year

Over the past week, global market capitalization has increased by 4.0%:

  • ETH, BTC and XRP have all underperformed with +3.5%, +2.8% and +0.2% increases respectively
  • BTC is still representing 52% of global market capitalization

1-year evolution of global traded volumes

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

Daily traded volumes have been continuously increasing since the beginning of the calendar year from USD 13.4 bn on January 1st to USD 30.3 bn on March 10th

Over the past week, global traded volumes have increased by 21.6%:

  • ETH has underperformed with a +11.5% increase, while XRP has undergone a 6.3% decrease in traded volumes
  • BTC traded volumes have significantly increased (+22.4%), reaching their annual peak on March 10th (USD 9.9 bn)

1-year evolution of 60-day volatility

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

Market volatility has pursued its downward trend: as of March 10th, 60-day market volatility stood at 57.9% compared to 138.3% one year ago

Over the past year, all major crypto assets have been experiencing decreasing levels of risk, as:

  • ETH 60-day volatility has decreased from 133.6% to 89.1%
  • BTC 60-day volatility has decreased from 126.1% to 47.3%
  • XRP 60-day volatility has decreased from 175.7% to 63.5%, its lowest level on the period

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

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

Same as for the global market, the week has been great for the top 50 sample with a 4.2% median performance and only 6 crypto assets with a negative performance

The week’s high average performance (12.6%) has been driven by the outstanding performances of:

  • ENJ has soared as rumors had it that the token would be supported by Samsung’s Galaxy S10 smartphone
  • AOA has particularly benefited from the market surge

7-day traded volumes

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin
  • Average weekly traded volumes have increased by 21.4% compared to the previous observed period — USD 427.0 m as of March 10th compared to USD 351.7 m as of March 3rd, 2019
  • BTC, EOS and LTC have driven the increase with respectively +22.4%, 26.3% and +70.3% increases in weekly traded volumes
  • LTC has taken back its third position as its weekly traded volumes have reached their annual peak — USD 13.6 bn as of March 10th
  • The top 5 still represents 59.7% of global traded volumes and 88.2% of traded volumes on the top 50 sample

Average daily traded volumes/market capitalizations

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

New crypto assets have integrated the top 5 as:

  • ENJ weekly traded volumes have increased by 209.2% over the past week
  • HT weekly traded volumes have increased by 144.0% over the past week

The average ratio has increased from 14.9% to 17.7% over the past week due to the strong increase of weekly traded volumes (+21.4% average weekly traded volumes)

7-day annualized volatility

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin

Volatility has increased compared to the previous week as:

  • Median 7-day volatility has gone from 40.0% as of March 3rd to 72.7% as of March 10th
  • Average 7-day volatility has increased from 58.5% as of March 3rd to 93.8% as of March 10th

The week has been characterized by huge discrepancies between the less volatile crypto assets (10.3% 7-day volatility for DOGE, 32.5% for BTC) and the more volatile (575.6% for ENJ and 319.6% for AOA)

90-day correlation to BTC

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin
  • Correlation to BTC has been slowly pursuing its decrease as median 60-day correlation to BTC has decreased from 0.710 as of March 3rd to 0.687 as of March 10th and average 60-day correlation has decreased from 0.609 to 0.595 over the same period
  • Both the 5 most correlated to BTC and the 5 less correlated to BTC have remained relatively stable
  • No crypto asset with a negative correlation to BTC

ZOOM ON GOin’s INDICES

7-day performances

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin
  • All FUSEKI indices have outperformed the market
  • The FUSEKI WL has increased in line with the Top 50 sample median (+4.2%) when the other FUSEKI indices have also outperformed the Top 50 sample
  • The FUSEKI WL has been the least performing index due to the lower weights of ZRX and LSK
  • The FUSEKI WP has been the most performing index thanks to the higher weights of XLM and ZRX

Constituents’ contributions to index performance

As of March 10th, 2019 — GMT close in USD

*March 4th, 2019- Source: GOin

Top upwards pulling:

  • XLM. Outstanding 6-day performance as of March 10th (+19.8%) that had a huge impact on all FUSEKI indices, from +2.77 points for the FUSEKI to +6.96 points for the FUSEKI WP
  • ZRX. Outstanding 6-day performance too (+18.1% as of March 10th) that has mainly benefited the FUSEKI (+2.52 points) and the FUSEKI WP (+5.06 points)
  • XTZ. Strong 6-day performance too (+12.0%) that has particularly benefited the FUSEKI (+1.68 points) and the FUSEKI WPX (+2.32 points)

Downwards pulling:

  • On rebalance day. All index constituents — except for XTZ — have performed negatively on March 4th — from -0.9% for DOGE to -5.6% for ZRX, and thus have negatively affected index performances

7-day correlation of index constituents

As of March 10th, 2019 — GMT close in USD

Source: GOin
  • New increase in 7-day correlation to BTC: 0.73 average and median value this week (compared to 0.52 average value and 0.30 median value on the previous week)
  • Average 7-day correlation to BTC has been the highest, while average 7-day correlation to WAVES have been the lowest (0.47)

Rebalancing

As of March 11th, 2019 — At rebalancing price

Source: GOin
  • Stable top 8 due to the assets’ relatively low volatility
  • Out: ZRX and LSK due to increasing volatility rates
  • In: QTUM due to its decreasing volatility and an increase of its traded volumes; TRX due to a strong decrease of its volatility rate

Average rotation rates

As of March 11th, 2019 — At rebalancing price

Source: GOin
  • Stable average weekly rotation rates over 1 year
  • High rotation rates this week for all the FUSEKI indices as two crypto assets have entered the indices (QTUM and TRX) to replace LSK and ZRX
  • As for the FUSEKI WL, the rotation rate has been particularly high due to important changes in constituents weighting

1-year performances compared to BTC and ETH

As of March 10th, 2019 — GMT close in USD

Source: www.coinmarketcap.com, GOin
  • BTC and ETH prices have decreased by 55.4% and 80.1% respectively over the past year
  • In the meantime, the FUSEKI indices have decreased by between 63.5% (FUSEKI WPX) and 69.6% (FUSEKI WL)
  • Over the past week, the FUSEKI indices have outperformed both BTC (+2.7% 7-day performance) and ETH (+3.4% 7-day performance) as they have increased by between 4.2% (FUSEKI WL) and 6.0% (FUSEKI WP)

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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