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Representation of the average Bitcoin bear
How do you DYOR on the complex data that is CMC? How do you compare cryptos with very different numerical values?
I’ve tried to answer this by taking the top 300 cryptocurrencies and plotting three properties simultaneously:
There’s a bit of maths (see bottom) carried out on those numbers and then they are plotted on a ternary diagram which not only shows 3D data in 2D, but also re-scales it to show features that are ‘unbalanced‘ or ‘disproportionate‘ – represented as outliers. The plot does not show absolute values e.g. ‘the most expensive’.
The ‘balance’ of price/supply/volume for each of the top 300 cryptocurrencies: Top 10 (blue), 11-100 (orange), and 101-300 (green). The most disproportionate/unbalanced cryptos are shown in the tables to the side.
The plot is quite difficult to read at first, but I’ve added red arrows to indicate the direction of each value. For example, disproportionately cheap coins are top right (like KIN or DENTACOIN) and disproportionately expensive coins are bottom left (C20/TKN). Take home message: most coins are pretty balanced – located in the central group, and all top 10 crytpos can be found there.
I’ve been thinking about how to use the plot to guide investment.
Let me know if you spot flaws with this analysis, or can think other ways to interpret it. Blah, blah – this is not investment advice.
Note: I used Excel to rescale all values for the top 300 crytpocurrencies: upscaling above 1, then log compressing them, and finally converting to a percentage score between 0 and 100%. Data were imported into ProSim Ternary Diagram plotter which I think is freeware. ProSim does the final normalisation which essentially plots the balance of each cryptocurrency.
Are your cryptocurrencies unbalanced?
CoinLaunch Reaches Agreement with Ontario Securities Commission – Cryptocurrency Regulation Altcoin BuzzInitial coin offering (ICO) consultant, CoinLaunch, has agreed to pay $50000 to the Ontario Securities Commission (OSC) under a settlement deal.
CoinLaunch Reaches Agreement with Ontario Securities Commission – Cryptocurrency Regulation – Altcoin Buzz
According to CoinDesk, LedgerX has launched the first physically-settled Bitcoin futures contracts in the US. The news comes at a time when Intercontinental Exchange’s Bakkt and TD Ameritrade’s ErisX have struggled to launch amid regulation issues.
LedgerX Launches Bitcoin Futures Contracts
LedgerX is now the first Bitcoin futures provider in the US that offers physical futures. This means that the customer receives Bitcoin when the contract expires as opposed to fiat dollar as per the more traditional futures contracts out there.
The Chicago-based exchanges CME and Cboe have offered “cash-settled futures contracts” since 2017. …
LedgerX Launches Physically-Settled Bitcoin Futures Contracts
Dubai to Launch KYC-Focused Blockchain Consortium for Businesses in 2020
GIBRALTAR, July 31, 2019 (GLOBE NEWSWIRE) — Quedex, a crypto-centric futures and options exchange based out of Gibraltar, today announced that it was granted a Distributed Ledger Technology (DLT) Providers licence for trading of cryptocurrency derivatives and for custody of cryptocurrencies by the Gibraltar Financial Services Commission (GFSC) making it the first regulated entity of […]
Quedex becomes first regulated crypto-centric futures and options exchange
Despite the current troubles in the crypto space this month, new tokens are still being listed on some of the world’s leading cryptocurrency exchanges. As everyone knows, Coinbase is the world’s most popular and biggest crypto exchange, and Coinbase Pro is not far behind, which is why whenever a cryptocurrency is listed on one of those exchanges, it is a big event. Today, the hype surrounds Tezos (XTG).
In a new development, Tezos has been listed on Coinbase Pro today, and as soon as the announcement was made, the price of the XTG token …
Tezos Soars 30% After Coinbase Pro Announces XTG Listing
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NBA is going crypto, launching blockchain souvenirs from the maker of CryptoKitties
| submitted by /u/owocki