Cryptocurrency Q&A
Is eCash price correlated with the top 10 coins by market cap?
Is eCash price correlated with the top 10 coins by market cap?
EnchantedMoon
Sun Jul 07 2024
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7 answers
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In the ever-evolving landscape of cryptocurrency, market correlations are a subject of ongoing speculation and analysis. One question that often arises is whether the price movements of eCash, a relatively new entrant, are correlated with the top 10 coins by market capitalization. This is a crucial consideration for investors looking to diversify their portfolios and hedge against potential risks. Does eCash's price tend to follow similar patterns as Bitcoin, Ethereum, and the other leading cryptos? Or does it exhibit unique movements that may indicate untapped potential? Understanding this correlation could provide valuable insights for those navigating the volatile yet exciting world of digital currencies.
7 answers
ZenMindfulness
Tue Jul 09 2024
Additionally, when considering a broader range of cryptocurrencies, eCash's price shows a positive correlation with the top 100 coins by market capitalization.
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Dario
Tue Jul 09 2024
The price movement of eCash exhibits a notable correlation with the top 10 coins in terms of market capitalization.
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BonsaiVitality
Tue Jul 09 2024
Specifically, eCash's price has a positive correlation coefficient of 0.488 with this elite group.
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CosmicDreamWhisper
Tue Jul 09 2024
However, this correlation excludes Tether (USDT), the popular stablecoin.
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CryptoVanguard
Mon Jul 08 2024
This correlation has a coefficient of 0.502, indicating a relatively strong association.
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