Fundstrat’s Newly Launched Weekly Report Ranks Major Cryptocurrencies Based on Technical Analysis Indicators

Independent financial research boutique Fundstrat Global Advisors has launched a new weekly report called "Benchmark Crypto Performance", which details the performance contribution of sector/size indices, including relative performance and correlations. The report, which comes out on Mondays, includes a very interesting section called "State of Tokens" that ranks 50 of the most popular cryptocurrencies using technical analysis indicators, such as weekly Relative Strength Index (RSI). 

The new report is compiled by Ken Xuan, one of Fundstrat's quantitative analysts, who announced the news on Tuesday via Twitter:

The purpose of this report is to provide a weekly performance analysis of benchmark cryptocurrency indices, but for the purpose of this article, the most interesting section is called "State of Tokens". Here, you find a weekly ranking of 50 of the most popular cryptocurrencies, including Ripple (XRP), EOS (EOS), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), TRON (TRX), Litecoin (LTC), and Zcash (ZEC).

The overall ranking (the "Composite Technical Score") is based on the following technical analysis indicators:

  • 90 Day Win-Loss Ratio
  • 90 Day UpVolume (UV) - Down Volume (DV)
  • Relative Price to 21 Day Moving Average (DMA)
  • Relative Price to 50 Day Moving Average (DMA)
  • Weekly Relative Strength Index (RSI)
  • 5 Day Return
  • 10 Day Return
  • 30 Day Return
  • 21 vs. 50 Day Moving Day Average (DMA)

For the week ended on 11 June 2018, here are the rankings for the ten largest (according to CryptoCompare) cryptocurrencies:

  • Bitcoin (BTC): 10th place
  • Ethereum (ETH): 13th place
  • Ripple (XRP): 4th Place
  • Bitcoin Cash (BCH): 11th place
  • EOS (EOS): 7th place
  • Litecoin (LTC): 14th place
  • Cardano (ADA): 25th place
  • Stellar (XLM): 16th place
  • IOTA (MIOTA): 17th place
  • TRON (TRX): 42nd place

The top ranked token was Binance Coin (BNB) and the lowest ranked token was Stratis (STRAT).

Here is a chart courtsey of data provider CryptoCompare showing the three month performance of BNB (with respect to BTC):


Interestingly enough, on the same day that this report was released, the CEO of crypto exchange Binance, Changpeng Zhao ("CZ"), sent out the following two tweets to boast about the performance of the BNB token during the current bear market:

The whole report is highly informative and the information is beautifully presented; so highly recommended reading! Every monday, Fundstart's Ken Xuan will post a tweet (from his Twitter account) with the download link for the report.


Featured Image Credit: Photo by "Andre Francois" via Unsplash

Bittrex International Closes Service for More than 30 Countries

  • Bittrex International is closing its service for clients in more than 30 countries, including Venezuela.
  • Users have until Oct. 29 to withdraw their funds from the exchange. 

Cryptoasset exchange Bittrex International will no longer be offering services to clients in more than 30 countries, including Venezuela and Egypt. 

According to the press release, the exchange informed customers residing in the now excluded countries that they would no longer be able to use the services of Bittrex International. 

Users will have until Oct. 29 to remove their funds from the exchange, 

On October 18, Bittrex International informed customers who reside in certain countries (see full list below) that they can no longer use the Bittrex International platform due to regulatory uncertainty. All trading and account access for these impacted customers will be halted on Tuesday, October 29 date at 19:00 UTC/21:00 CEST.

Bittrex International, which is based out of Malta, published a guide for withdrawing funds from the exchange, including a warning that customers must have 3 times the withdrawal fee amount in order to do so. 

Among the countries listed was Venezuela, which caught community members by surprise given the country’s growing adoption for crypto. 

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