Chainlink, AppCoins, Syscoin and Binance Coin Fare the Best in Crypto; Coins as a Whole Down 12.49% Overall, 38 Coins Have Contracting Volatility

Yesterday’s Movers and Shakers

Over the past day, the top performing coin out of the 134 coins we are tracking was Chainlink, which offered a day-over-day return 11.7%. Other notable currencies were AppCoins, Syscoin, and Binance Coin, which experienced daily returns of -2.32%, -4.41%, and -4.71% respectively. These moves were notable not only for their magnitude relative to other coins, but also because they were large and surprising relative to the volatility of each of these currencies over the past two weeks.

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A Macro View of the Crypto Market

In the past day, the average percent change in price for the coins in our index was a move down -12.4874%. On a more granular level, 1% of the coins we’re tracking were up while 99% of the coins were down. The chart below shows the average daily change for all the coins in our index over time. 38 coins are especially close to their 20 day moving average, and thus may be worth watching for technical traders who view the 20 day moving average as a key support/resistance level.

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Which Currencies Had Major Price Moves?

Those 38 coins are: district0x, Waltonchain, Loopring, SingularDTV, BQX, SONM, Moeda Loyalty Points, Metal, AirSwap, Everex, NULS, Basic Attention Token, BlockMason Credit Protocol, Aeron, Genesis Vision, Blox, GXS, Quantstamp, Etherparty, AdEx, Populous, Cindicator, Tael, Time New Bank, Gifto, OST, Neblio, iExec RLC, Insolar, PIVX, POA Network, Zilliqa, WePower, IoTeX, Streamr DATAcoin, Pundi X, Dock, Red Pulse Phoenix. Volatility traders may also wish to note that 38 of the 134 we are monitoring have had their volatility contract over the past two weeks. Contracting volatility often leads to a big move in price, so this may be something to monitor. The chart below drills down a bit more, featuring 4 currencies with contracting volatility that are trading below their moving average. Are these coins forming a bottom?

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Article by SixJupiter


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