OVERVIEW

Stocktwits Crypto Data Dive - Week 11

Welcome to the Stocktwits Crypto Data Dive for Week 11 of 2024! 📊

In this issue, we'll dive into the data to keep you informed about the progress of the overall crypto market and shine a spotlight on emerging and established trends.

The Stocktwits Crypto Data Dive has three main objectives:

1. Tracking the weekly total market cap of the crypto market.

2. Highlighting the 25 best-performing cryptocurrencies of the week.

3. Monitoring the top 11 cryptocurrencies within various high-performing indices, including "Proof of Work," "Web 3," "Smart Contracts," and more!

We track the performance of these indices from Thursday to Thursday to ensure a more accurate representation and account for weekend volatility.

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So, without further delay, let's jump right into the data from week 10 and explore its intriguing insights! 🚀

CRYPTO
Total Market Cap Update

What is the broader trend within the crypto market? The simplest way to track this is by using a total market capitalization chart. So let's see what we got. 🔭

From the highest all-time market cap close of $2.834 trillion, crypto is down -9.42%.

The cryptocurrency market is up +147.40% YTD and +57.72% YoY.

*the price levels and performance values may be very different from what you read in your mailbox vs. what's happening in the live market. This is especially true when crypto faces a new bull or bear run. 

STOCKTWITS EDGE
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CRYPTO
Top 25 Cryptocurrency Update

Overall, the Top 25 cryptocurrencies were higher for the week by +17.7% versus -1.4% prior.

*The universe used to construct the Top 25 list consists of all cryptocurrencies with at least $1 billion in market cap, excluding stablecoins.

CRYPTO
Stocktwits Crypto Index RRG

Relative Rotation Graphs (RRG) help us visualize how a currency or sector performs compared to a benchmark - in this case, the U.S. Dollar Index (DXY). Think of the four colored sectors as stages in a race:

• Leading Quadrant (green) - You're a champ! 🏆 You're ahead of everyone else, and the crowd is cheering. But watch out; you might be overdoing it.

• Weakening Quadrant (yellow) - You're slowing down 😓 and losing your lead. Maybe you're a bit demoralized because your biggest fan didn't show up. You're now in the middle of the pack.

• Lagging Quadrant (red) - Disaster strikes! 😱 You're injured, exhausted, or just made a big mistake. You're now in last place, and it's a sad scene.

• Improving Quadrant (blue) - Time for a comeback! 💪 Your motivation returns, the music swells, and you're picking up speed. You're back in the middle, catching up with the leaders.

Analyzing the RRG Examples 

Example 1: Rapid Rotation
- If an instrument moves quickly through all four quadrants, it could indicate high volatility or erratic behavior. Traders may want to be cautious or use appropriate risk management strategies in such cases.

Example 2: Stuck in the Middle
- An instrument that remains close to the center of the RRG might be in a consolidation phase, lacking a clear trend or momentum. Traders might wait for a decisive move before entering a position.

Example 3: Consistent Leader
- If an instrument stays in the Leading Quadrant (top right) for an extended period, it could signify a strong, sustained uptrend. Traders might consider buying opportunities or riding the trend.

Example 4: Slow Recovery
- An instrument that gradually moves from the Lagging Quadrant (bottom left) to the Improving Quadrant (blue) and eventually to the Leading Quadrant (green) could indicate a slow but steady recovery. Traders might look for potential reversal or bottom-fishing opportunities.

The GIF below shows the past 10 days of movement on the RRG.

The GIF below shows the past 13 weeks of movement on the RRG.

CRYPTO
Stocktwits Crypto Index Performance

The DEX Index (Decentralized Exchange) comprises the cryptocurrencies and tokens that make up the DEX space. 

We construct this index by limiting the assets in this space to a minimum market cap of $100 million.

The Proof-of-Stake Index includes any cryptocurrency that has a Proof-of-Stake consensus mechanism. 

We construct this index by limiting the assets in this space to a minimum market cap of $100 million.

The Web3 Index comprises cryptocurrencies focusing on the next generation of the internet: blockchain, publicly distributed ledgers, transparency, openness, decentralization, and tokenonomics. 

We construct this index by limiting the assets in this space to a minimum market cap of $100 million.

The Proof-Of-Work Index is a collection of cryptocurrencies that, you guessed it, are blockchains that use Proof-Of-Work as their primary consensus mechanism. Bitcoin is the most well-known and biggest Proof-Of-Work cryptocurrency.

We construct this index by limiting the assets in this space to a minimum market cap of $100 million.

STOCKTWITS CONTENT
Your Weekend Watch & Macbook Pro Giveaway 👀

Stocktwits co-founder Howard Lindzon chops it up with pals JC Parets and Phil Pearlman every Thursday on "Trends With Friends."

In this week's episode, the friends discuss:

• Crypto: Exploring the growth drivers, risks, and behavior of Bitcoin’s historic rally ₿

• Behavior: Michael Saylor’s all-in strategy and Bitcoin as an on-ramp to the degenerate economy 🤑

• Markets: Deteriorating breadth and the “Magnificent 7” turning into the “Malevolent 7” 💔

• Giveaway: One lucky subscriber will win a Macbook Pro on March 17 by entering here 💻

Watch it now on YouTube and Spotify, and subscribe to catch each episode when it goes live!

LET’S GET SOCIAL
Follow Stocktwits Crypto

Crypto-hodlers rejoice. We created a crypto-specific Stocktwits account to stay up to date with the latest developments in the space. Be sure to follow us at StocktwitsCrypto.

Get In Touch

Have feedback on The Litepaper? Email me (Jonathan Morgan) at [email protected]; I’d love to hear from you.

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Disclaimer: Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Read the full terms & conditions here.