01/11/18 Market Review
Posted on April 2, 2018
A collection of notes about what happened over the last three days in the crypto and ICO world. I find it useful for anyone wanting to keep its finger on the market’s pulse.
This document is intended for informational purposes only. The views expressed in this document are not, and should not be construed as, investment advice or recommendations.
In the news:
STRAT: Stratis // QTUM: Qtum // NEO: Neo // ICX: Icon // ZRX: 0x // TRX: Tron // XRP: Ripple // FRST: First // MONA: Monacoin
STRAT rose another 26.81% as it will soon support its first 2 ICO launches. A use case that has served Ethereum pretty well.
There are many things to like about STRAT. C#, PoS, sidechains, a low decaying inflation rate and masternodes that act as velocity sinks.
Interestingly, STRAT’s returns exhibit weak correlations with its competitors [0.09–0.3]. Either STRAT trades on its own merits or the market doesn’t see it as a BaaS killer.
QTUM dropped another 31.69%. Despite its efforts, it’s hard to compete in the East against projects with star power like NEO or ICX.
ZRX jumped another 49.96% after it facilitated a trading volume surge on Radar Relay — further proving the DEX’s capacity to operate.
Also in the news, ZRX latest push towards a canonical WETH is a testament to their dedication to the community.
TRX and XRP experimented serious drops after Coinmarketcap’s decision to exclude Korea from average price calculations.
Crypto markets being reflexive, the artificial drop crystallized and accentuated when investors mistook it for a sell signal.
The markets are much more fragile then one might believe. We are in a bubble. More on that in the bigger picture.
FRST was in the news with a 20.64% increase. Float is too small to draw meaningful conclusions but potential scams are always fun to watch.
FRST is a coin that seems more focused on enticing coins rewards for coin owners then delivering an actual service.
MONA further drops 16.40% putting its monthly ROI at -45%. So much for Japan’s favorite meme coin.
MONA is a coin worth watching for it tends to follow its own path and has done a good job staying in the green when most where in the red.
Something everyone should consider when applying modern portfolio theory.
The bigger picture
We are in a bubble. But what is a bubble? Howard Marks has written one of the best books on the subject.
“The most important thing” is a fantastic read about the pendulum effect describing markets moves from euphoria to despair.
A key driver is the disappearance of opinion diversity in price formation of a given asset. Which is the current case of the crypto market.
I would recommend anyone looking at the current state of crypto markets and wondering where its going to pick that book.
#Stratis #STRAT #Qtum #QTUM #Neo #NEO #Icon #ICX #0x #ZRX #Tron #TRX #Ripple #XRP #First #FRST #Monacoin #MONA #Altcoins #Cryptocurrencies