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Ether Was the Cryptocurrency Most Correlated to Other Coins in 2019
Summary: According to a Binance report published today, Ether was the most correlated cryptocurrency to the cryptomarket in 2019, according to Coin Telegraph. Throughout 2019 Binance suggested that Ether held an average correlation coefficient of 0.69. Ether became most correlated asset in the second half of the year. Researchers observed that correlation is typically higher among cryptocurrencies ...
According to a Binance report published today, Ether was the most correlated cryptocurrency to the cryptomarket in 2019, according to Coin Telegraph. Throughout 2019 Binance suggested that Ether held an average correlation coefficient of 0.69. Ether became most correlated asset in the second half of the year. Researchers observed that correlation is typically higher among cryptocurrencies with the highest market caps like Cardano, EOS, Litecoin, XRP, and Binance Coin. The lowest correlation in the market were: Cosmos, Chainlink, and Tezos with coefficients of 0.31, 0.32, and 0.4.
The Binance Effect refers to the fact that cryptos listed on Binance show higher correlations than with the assets not present on the exchange. The Binance Coin has seen the highest return. The lowest correlation in the market were: Cosmos, Chainlink, and Tezos with coefficients of 0.31, 0.32, and 0.4. The Binance Effect refers to the fact that cryptos listed on Binance show higher correlations than with the assets not present on the exchange. The Binance Coin has seen the highest return.
By Claudia Rivera
Tags: Altcoin News,Binance,Binance Coin,Cryptocurrency,Ethereum,Research
Link: Ether Was the Cryptocurrency Most Correlated to Other Coins in 2019 [Copy]
