Research: Ether Was the Cryptocurrency Most Correlated to Other Coins in 2019
USD price correlation in the crypto market Other crypto assets that have shown a high correlation with the rest of the market include Cardano (ADA), EOS, Litecoin (LTC), XRP and Binance Coin (BNB). Source: Binance The assets with the lowest correlation to the rest of the market, on the other hand, are Cosmos (ATOM), with a correlation of 0.31, followed by Chainlink (LINK) and Tezos (XTZ) with respective coefficients of 0.32, 0.4.
Overall, the median correlation between large cryptocurrencies slightly decreased over the last quarter of 2019 Binance’s effect on the crypto market Another interesting phenomenon pointed out by the researchers is the “Binance Effect,” which refers to the fact that cryptos listed on Binance displayed higher correlations than with the assets not present on the exchange. The firm’s research also claims that, among the top ten cryptocurrencies by market cap, its own crypto asset Binance Coin is the one that has seen the highest returns.
