Fundstrat Announces New Weekly Crypto Report | [blokt]

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Viraj Shah

New York based Fundstrat Global Advisors has announced a new weekly cryptocurrency market report titled “Benchmark Crypto Performance.” The report, scheduled to be released every Monday, includes comprehensive analysis of the crypto markets, the performance of different coins and a ranking for top 50 coins. In the first report released on June 11, the financial advisory firm ranked Binance Coin (BNB) on top, leaving popular currencies Bitcoin, Ethereum and Ripple on the 10th, 13th, and 4th spots, respectively.

Ethereum, Bitcoin, Ripple cryptocurrencies. Source: shutterstock.com

What Does the Report Include?

The report will be compiled by quantitative analyst Ken Xuan, who announced its launch on Twitter on Tuesday. The tweet read:

“Launching @fundstrat weekly, called Benchmark Crypto Performance, which details the performance contribution of sector/size indices, including rel. performance and correlations. Will be released every Monday. Free to download.”

The report will detail the performance and contribution of different sector/size indices and relative performance and correlations in the market.

The report will also contain a section titled “State of Tokens,” in which different cryptocurrencies will be ranked based on their performance across various parameters like the relative strength index (RSI), relative price to 21 Day Moving Average, 90 Day Up Volume (UV) and 90 Day Down Volume (DV). It will also calculate the 5-day, 10-day and 30-day returns of these coins.

A Relatively Small Token Takes the Lead

The indexing of coins in the report is very interesting as popular coins like Bitcoin and Ethereum don’t make it to the top 5. Ripple is the only currency that has made it to the top 5 at the 4th spot. The top three spots go to relatively small and lesser-known coins, namely, Binance Coin, Digicoin and Siacoin.

Binance Coin cryptocurrency. Source: shutterstock.com
Binance Coin cryptocurrency. Source: shutterstock.com

Binance Coin, the native currency of the leading cryptocurrency exchange Binance, made it to the top of the list, thanks to its excellent recent performance.

Binance CEO Zhao Changpeng was delighted with the news and tweeted, “when the going gets tough, the tough gets going,” in response.

Fundstrat’s managing partner Tom Lee is a well-known crypto bull who has announced that Bitcoin will break all expectations and cross $25,000 by the end of the year.

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