Top Performing Tokens (Feb 15, '19)
Yesterday's top Ethereum tokens: shelterdao, viuly, sf-capital, tigereum. Their returns, in order, are 395.77%, 306.17%, 292.5%, 245.37%. All of those tokens have a market cap of less than $1 MM, which is something to bear in mind. Here's a chart of the top four performers since yesterday, and their performance over time.
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Discover tokens soaring to the top of the charts by various metrics tracked by SixJupiter.
Does the Ethereum Money Supply Suggest the Bottom is in?
SixJupiter’s Ethereum Transactional Money Supply, which we’ve previously defined, is part of our toolbox for understanding the price trend in Ether and identifying resulting investing/trading opportunities. As we noted in our initial post, we noted that a temporary spike in M1, especially if coupled with a corresponding spike in price, could indicate exhaustion of the prevailing price trend and thus set the stage for a reversal — and a corresponding trading opportunity.
In this post we suggest that there may be some evidence to suggest precisely this situation occurred in late December of 2018. As the chart below shows, we saw M1 start to rise from November 20 — when we first created the Ethereum Transactional Money Supply indicator — all the way through the end of the year. During this time, it also traded places with M2 in terms of proportional size. One interpretation of this shift is that during this time Ether in M2 wallets transacted, thus putting them in the M1 cohort, and that they did so to sell Ether. This thesis is buttressed by the price action in Ether, which saw a sharp decline in December, followed by a stabilization in the new year.