Dark Street 50 Update
Tracking the Dark Street 50 Cryptocurrency Index
Index update Aug 8, 2018 - Bloody Wednesday
Brutal day on the crypto market, OR a great time to buy in.
All the major currencies in the Dark Street 50 are down with exception of Populous and ZClassic. Populous actually managed to gain 1.71%. Bitcoin and Ethereum today are down roughly 6% and Ripple is down nearly 12%. Since the last time we valued the Dark Street 50 on Jun 21 the index has lost 1,744 or 22%.
The cause of the drop seems on its face to be relatively mundane. The SEC delayed its decision on a cryptocurrency ETF. These concerns are not likely to go away until we see cryptocurrency embrace some forms of regulation. I think the Cryptocommunity will need to choose how much to embrace the mainstream and there will likely be varied differences in that regard. I think some new ideas like the one being posed @thegrandchavez on twitter could have a major impact on the future of the market.
Yep. If only someone would come up with a centralized, regulated Bitcoin and release it this year in August. 😂👌🏼 https://t.co/AN4q3hLi3M— Nicholas (@thegrandchavez) August 4, 2018
I also liked the analysis of CryptoUS on the situation:
Index update Jun 21, 2018
Dark Street 50 Value = $7,842
Index Update Jun 11, 2018
Dark Street 50 Value = 7968.68
The Dark Street 50 value tanked since the last update primarily due to a loss in the value of Bitcoin.
The Index went from $9,326.71 on Jun 8, to $7,968.68 on June 11. This drop of $1,358.03 was a massive 14.6% value loss in 3 days.
There were two particulary bad pieces of news that helps contribute to the loss. First, a CoinRail exchange was reportedly hacked and lost $40m dollars worth of cryptocurrency.
Coinrail Exchange Hacked
The other bad piece of news was that the U.S. Commodity and Futures Trading Commission (CFTC) subpoenaed 4 major cryptocurrency exchanges in a bid to obtain their trading data as an investigation on market manipulation. The four exchanges being looked at are Bitstamp, Coinbase, itBit and Kraken. The CTCC is primarily looking for old school tactics of sending fake orders or other instances of artificially altering the price.
Crypto exchange data requested by CFTC
Both of these factors along with a relatively weak volume recently packed a wallop on Bitcoin itself as well as the other cryptos in the Dark Street 50.
Bitcoin dropped beneath the 7k holding level and into the mid 6.5k level. The price seemed to meet some resistance at that level.
EOS has also been hammered over the past 3 days. EOS climbed up to a $14.8 price point on Jun 8th and has plunged to $10.62 losing $4.18 or 28.2% of its value.
Monero also experienced a major drop. Monero was trading at $159.75 on Jun 8 and has now dropped down to $134.37 a drop of $25.38 or 15.9%.
Index Update Jun 8, 2018
Darkstreet 50 Value = $9.326.71
Bitcoin remains in the mid 7000 level ($7,688) it did rise some from the 7400 level of the last update.
EOS has had impressive run this week growing from around $12 dollars to $14.149725
Index Update May 30, 2018
Darkstreet 50 Value = $8,781.33
Last week cryptocurrencies lost value across the board. Bitcoin continues to drive much of the change and is struggling to regain its footing from earlier in the year. Bitcoin has dropped beneath the $8,000 level that it was holding and is currently holding steady above 7000 (Current value at $7,412)
Ripple is also down to $00.60137782 despite its Xpring initiative and talk of becoming the dominant currency. Ethereum has also dropped to $559.60 from its previous value of $699.
The last notable winner in our Dark Street 50 update was ZCash and it has lost most of its value. Having gone as high as $350.52 on May 16 it now back down to $243.87.
Index Update May 16, 2018:
Darkstreet 50 Value = $10,313.93
The value of the Index has remains close to its previously recorded mark its currently at 10,313.93. Bitcoin has held its value above the $8000 dollar level with a value of $8,322. Ripple has remained relatively down despite releasing its Xpring initiative (Current price $.684846 down from $.873 on April 20). Ethereum has moved relatively higher since the last update growing from a price of $593 to $699.
One major winner over the period is Zcash that has grown from $277.68 (April 20) to $350.52 (May 16) Zcash experienced high volume on May 13th through the 15 driving the price higher. Volume has been around 300 million for the past 3 days while being around 50 million in the previous few months. The last time Zcash experienced this level of volume was in the period Dec 17 through Jan 1, 2018 this is also when Zcash experiences its previous major high of $699.
Tron has also done very will over the period moving from .051 to .069.
Index Update Apr 20, 2018:
Dark Street 50 Value = $10,380.18
The value of the Darkstreet 50 has risen to $10,380.18. While the crypto market hit a rough patch in March of 2018 a strong recovery has pushed the Dark Street 50's value over its initial price on Feb 5 of $10,000.
One of the primary factors behind Dark Street 50 rising back to its initial levels is the price of Bitcoin. Bitcoin had fallen to $7,000 and has now recovered to a level of $8,400.
Index Update Mar 27, 2018
The Dark Street 50 is down from last week. Total value of the index has dropped down to $8,411.48 nearly a 10% drop from last week.
It has been interesting week for the markets as a whole. Yesterday the Dow shot up $400 after previously falling nearly the same the previous day of trading. Today the Dow is once again down trading nearly $350 dollars.
Crypto has also been volatile though has not generally hit new lows. Ethereum did drop to its lowest level of the year so far at $454. Ethereum has been considered to be a bellweather currency just under Bitcoin in quality and marketcap. Ethereum is the 2nd largest holding in the DarkStreet 50 index. Bitcoin has stabilized around the 7k-8k mark but has had trouble climbing above it. The cryptomarket was hit by news that Twitter would ban ads for Cryptocurrency using their site.
The Cryptomarket has recieved another critic from the Fed according to Bloomberg. Atlanta Fed President Raphael Bostic told attendees to not invest in Bitcoin or other Cryptocurrencies. He is quoted as saying: "Don't do it,...they are speculative markets. They are not currency. If you have money you really need, do not put it in these markets."
Like all Fed and Bank critics Mr. Bostics has avoided talking about what is perhaps the larger elephant in the room in the runaway deficits of the US Government and other government currencies. The dollar is backed by a US government that just passed another record setting level of debt in its current budget. One must wonder if Fed and Banking critics have the best interest of their listeners at heart or simply trying to prop a system that is crumbling around them. Could it be that some of these bankers see crypto as a competitor absorbing resources from their own institutions?
Index Update Mar 20, 2018:
Holdings = $9,287.04
Downward pressure has entered the market in the form of fears of regulators. Likewise the Futures market for Bitcoin has failed to garner as much economic attention as expected leading to a longer delay of other investment like ETFs in the market.
Dogecoin continues to have the highest return in the index of 759% since inception despite its creator having fully diviested himself from the coin. While the coin is looked at by some as a joke its ability to continue garner interest may mean it has bigger legs than people give it credit for.
Other big gainers in the index since inception are the BinanceCoin (BNB), Digixdao, Bytorn, Litecoin, Bitcoin, Binance Coin (BNB) and Ethereumclassic (ETC).
Bitcoin has shown technical resilience at the $8,000 price level.
Index Update Feb 13, 2018
Holdings = $11,653
Index Update Feb 12, 2018
Six days into the Dark Street 50 Index and the the Index is up $2,187.62 up to $12,187.62 from its original price of $10,000. This is a 21.8% increase since the inception of the index on Feb 6.
The biggest gainers of index so far have been:
- Dogecoin - 1,239.31%
- Binancecoin - 217.10%
- Lisk 63.37%
- Ethereumclassic 62.06%
Biggest losers on the index
- Populous - (20.6%)
- Nem - (9.6%)
Index Update: Feb 9, 2018
Three days into the Dark Street 50 Index as things are looking bright.
So far the Index has risen from its initial price 3 days ago of 10,000 to 11,404.79 a startling gain of 14%.
As time goes on we build graphs showing the prices and averages of the Dark Street 50 against Bitcoin as well as the major stock exchanges.
The biggest gainer as a % of ROI in the index over the 3 day period was the Dogecoin and Binancecoin.
The biggest loser in terms of ROI% was Populous and Nem.
In total dollars terms Bitcoin and Ethereum have added the most value. Both currencies have had strong rebound from their lows a few days and also have the biggest weightings inside the Dark Street 50 Index.
Price Valuations of the Darkstreet 50 comes from:
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