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Crypto Summary 2018-12-20: Wow, Big Moves in Bitcoin Cash! Top Performing Tokens: Vezt, Hellogold, Opus, Vslice
Well, there has been a pretty big move in Bitcoin Cash. It had a two standard deviation price moves relative to the past two weeks, so it may be worth looking into a bit more. In terms of price, the action is quite bullish; crypto majors are up 10.07% in aggregate since yesterday. All the individual crypto majors were up, with the biggest outperformer being Bitcoin Cash, which was up 42.08%, while XRP brought up the rear but was still up 7.05% day over day. The momentum is fully bullish at the moment, with all of the major cryptocurrencies above their 20 day simple moving average. Bitcoin Cash is leading the way, up 46.8% above its 20 SMA, while Stellar is at the other end, still up 1.31% above its 20 SMA. For momentum and technical traders, we should note that Stellar is very close to their 20 SMA. Here’s a look at Bitcoin Cash and XRP, the featured charts for today.
The top performing Ethereum tokens over the past day were vezt, hellogold, opus, vslice. Their returns, going from the best of the bunch, vezt to the fourth in the group, vslice, are 129.08%, 120.62%, 109.29%, 103.61% Here’s a chart of the top four performers since yesterday, and their performance over time.
Overall, out of the 917 Ethereum tokens we are currently tracking, 522 were up and 394 were down for the day. Here’s a chart showing the advance/decline ratio of our Ethereum token index over time.
In this document, we’ll analyze the velocity — meaning the rate at which money moves between wallets — of the Ethereum money supply in a way similar to how monetary velocity of nation-state currencies is analyzed. The goal of such analysis will be to assess the degree to which Ethereum is used as a transactional currency or as a store of value: if velocity is high, this would suggest Ether is functioning as a transactional currency; if velocity is falling, this suggests Ether is a store of value being held as an investment of sorts, or is simply dying. As we continue to monitor the velocity metrics we outline in this document over time, we hope to be able to spot key changes in the behavior of Ethereum wallets that may reveal key trends in overall changes to the currency’s velocity, and thus, its value proposition to holders.
Coins to Watch
The tokens below have shown impressive growth based on analysis of interest in these tokens expressed on Twitter, but have not yet seen a proportional move in their rate. Are there opportunities here worth exploring?
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