Welcome to the Stocktwits Crypto Data Dive for Week 52 of 2022!
If you want a detailed look at crypto’s performance in 2022, check out yesterday’s Litepaper – it’s got a lot of stats.
This is the fifth crypto newsletter of our new Saturday edition of the Litepaper that we’re testing out through the end of the year – which is today! 👍
The data-centric issue aims to keep track of the overall crypto market’s progress and highlight new and old trends. It’s very similar to The Daily Rip’s Saturday issue, which tracks the performance of the top stocks in the S&P 500, Nasdaq 100, and Russell 2000. 🤩
The Stocktwits Crypto Data Dive serves three main purposes:
- Tracks the crypto total market cap every week.
- Tracks the 25 best-performing cryptocurrencies of the week.
- Tracks the top 10 cryptocurrencies in each of the three best-performing indices of the week. Our custom indices include “Proof of Work,” “Web 3,” “Smart Contracts,” and more!
So without further adieu, let’s get into the data from week 52:
Top 25 Cryptocurrencies
Top 25 Cryptocurrency Update
There was one major change this week.
$SOL.X got kicked out and replaced by $ALGO.X
Overall, the Top 25 cryptocurrencies were negative for the week, -1.85%.
*The universe used to construct the Top 25 list consists of all cryptocurrencies with at least $1 billion market caps, excluding stablecoins.
Stocktwits Crypto Index RRG
Stocktwits Crypto Index RRG
Relative Rotation Graphs (RRG) are useful visual tools to identify how an instrument or a sector performs against a benchmark. The RRG image below shows eleven customized crypto indices. Each contains the top ten by market cap (excluding stablecoins and some exchange-based tokens).
They are rebalanced monthly, and the RRG tracks the last seven days’ performance.
Without going into the nitty-gritty details, the four colored sectors can be thought of like this, so imagine you’re in a race:
- Leading Quadrant (green) – You are in 1st, 2nd, or 3rd place. You are leading the pack. You’re going to medal. Anthems will be sung, tears will fall, and you may or may not pass a doping test.
- Weakening Quadrant (yellow) – You’re losing your momentum and out of breath. You just realized that your spouse or your mom didn’t show up to watch you, sapping your enthusiasm. You’re falling back and in the middle of the pack.
- Lagging Quadrant (red) – You pulled a hamstring. You pulled a Michael Scott and ate five pounds of fettuccine alfredo an hour before your race. You fell down. You’re dead last. No anthems will be sung, but tears will fall, and no one will remember your name.
- Improving Quadrant (blue) – You see your spouse or your mom in the stands. The crowd starts to see you get up. Emotional music begins, and the camera pans to the crowd in slow motion. You’re back on your feet and in the middle of the pack, gaining on the leaders.
Instead of showing a static image of the prior week, we’ll look at a GIF that shows all 52 weeks of 2022.
Privacy Coins
The Privacy Coins/Tokens Index
Privacy coins/tokens are cryptocurrencies that either focus on creating complete anonymity with transactions or offer anonymity as an option when performing transactions.
We construct this index by limiting the assets in this space to a minimum market cap of $10 million.
There were three major changes this week.
LOKI.X, $PART.X, and RAIL were replaced by $ONE.X, $PIVX.X, and $SCRT.X
The Privacy Coin Index was the week’s best performer, down -0.73%. 🏆
Proof-Of-Work
The Proof-Of-Work Index
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.
There were three major changes to the list this week.
$AMP.X, $DGB.X, and $ZEC.X replaced $ETC.X, $RVN.X, and $SC.X.
The Proof-of-Work Index was the third best-performing index last week but number two this week, down -1.78%. 💪
Smart Contracts
The Smart Contracts Index
The Smart Contracts Index includes cryptocurrencies whose blockchains allow for smart contracts. Ethereum and Cardano would be examples of cryptocurrencies that fall into this index.
We construct this index by limiting the assets in this space to a minimum market cap of $250 million.
This index had the most changes, with half of the assets swapping out.
$ALGO.X, $CSPR.X, $EOS.X, $TRX.X, and $XRD.X replaced $ETC.X, $HBAR.X, $KAVA,X, KLAY, and $XEM.X
The Smart Contracts Index was the third best-performing index, down -2.35% for the week. 3️⃣
Bonus Index - Metaverse
The Metaverse Index
The Metaverse Index is a collection of cryptocurrencies that focuses on virtual worlds and environments, including the Play 2 Earn and gaming class of cryptocurrencies.
We construct this index by limiting the assets in this space to a minimum market cap of $10 million.
There was one major change this week.
YGG replaced DVI.
The Metaverse Index was the worst performer of the week, down -13.97%. 🟥
Summary
Putting It All Together
So far, the Privacy and Proof-Of-Work indices continue to show strong outperformance in the space, with the Metaverse Index continuing to slide and get beaten down.
Again, if you didn’t get a chance to read Friday’s Litepaper, you can read it here.
0 out of 10 indices closed in the green this week. 🔻
See You Next Saturday!
Credits & Feedback
Today’s Litepaper was written by Jon Morgan. Let him know how he did: