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FOMO Steals the Show as Litecoin (LTC) Transaction Value Soars Ahead of Block Reward Halving

Jun 12, 2019

Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions
Better Data for Better Investment DecisionsBetter Data for Better Investment Decisions

 

  Ticker Last Price 10-day Media Transaction EWMA
Bitcoin Cash BCH 389.48 0.13
Bitcoin BTC 7,982.74 107.65
EOS EOS 6.31 1.19
Ethereum Classic ETC 8.18 4.52
Ethereum ETH 248.56 0.00
Litecoin LTC 138.45 114.94
Ripple XRP 0.39 167.78

 

  • Litecoin (LTC) is a standout among major cryptocurrencies in terms of its 10-Day Exponential Weighted Moving Average (EWMA) of Median Transaction Value. As can be seen in the chart below, LTC is the only network whose 10-Day EWMA Transaction Value has consistently trended upward. LTC’s 10-Day EWMA Transaction Value currently sits at a 3-month high of $114.94.  
    • Elevated transaction activity and demand for LTC is likely the direct result of the altcoin's upcoming block reward halving from 25 LTC to 12.5 LTC, which is expected to occur in less than 54 days. Fear of missing out, or FOMO, may very well be driving investors to buy LTC in larger volumes.  
    • LTC has a “BUY” 3-Day Trading Signal according to the Quantamize models.  
       
  • Median Transaction Values in EOS (EOS) on a 10-day EWMA-basis are in a free fall since peaking in mid-May, falling nearly 50% to $1.19. EOS’ median transaction value of $0.62 on May 10th also crossed below its 10-day EWMA, which suggests downward pressure will persist on EOS’ transaction values over the short-term.  
    • EOS has a “Do Not Own” 3-Day Trading Signal according to the Quantamize models.  
       
  • Bitcoin’s (BTC) median transaction value appears to be holding up well, relative to other major cryptocurrencies highlighted below, since peaking in mid-May. As of May 10th, BTC’s median transaction value of $113.06 is slightly above its 10-Day EWMA of $107.65, a sign that the benchmark coin’s median transaction value still has room to rebound.  
    • BTC has a “BUY 3-Day Trading Signal according to the Quantamize models.  

 

Bitcoin (BTC) - Median Transaction Value EWMA 

BTC Transaction Value EWMA

 

EOS (EOS) - Median Transaction Value EWMA 

EOS Transaction Value EWMA

 

We Crunch the Numbers, You Make the Trade.

We Crunch the Numbers, You Make the Trade.We Crunch the Numbers, You Make the Trade.

 

Ethereum Classic (ETC) - Median Transaction Value EWMA 

ETC Transaction Value EWMA

 

 

Litecoin (LTC) - Median Transaction Value EWMA 

LTC Transaction Value EWMA

 

Ripple (XRP) - Median Transaction Value EWMA 

XRP Transaction Value EWMA

Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS
Global Top Stock IdeasTOP LONG & TOP SHORT STOCK IDEAS FOR GLOBAL MARKETSMONTHLY TOP IDEAS FROM OUR MULTI-FACTOR QUANTITATIVE MODELS