The researchers analytical platform Santiment came to the conclusion that some tokens of the standard ERC-20 was not correlated with Ethereum, as it usually happened before. This was reported in the company blog.
Analysts say that prices for at least ten tokens of the standard ERC-20 more recently, “live my life” on the background of stagnation in the second capitalization of the cryptocurrencies.
In the chart below, you can see that tokens BAT and ZRX, which recently appeared in the listing Coinbase Pro, in the past two months has ceased to correlate with the price of Ethereum:
Thus it can be seen that before the price movement BAT, ZRX and ETH was almost simultaneous.
The growth rates of token BAT was increased significantly after the developers introduced the Chromium-browser version of Brave, which, according to them, runs 22% faster. Another powerful driver of growth was the inclusion of BAT in the listing Coinbase Pro.
ZRX growth also accelerated after adding the Coinbase platform Pro, then the price of tokens “freed from the shackles of” Ethereum. In addition, Santiment noted an increase in the price of the token MKR compared with ETH.
The total capitalization of tokens ERC-20 is currently $12.8 billion, slightly more than 60% of the total market value of Ethereum. According to analysts, the lack of correlation of some token cryptocurrency platform Ethereum says that these projects become more or less Mature and independent. As a result, some assets standard ERC-20 began to rise, without waiting for recovery of ether.
According to the researchers, possibly from ETH with a tendency to a widening gap in prices, the high activity of the various projects and activity mentions of the coins in social media can be signs of a recovery in this segment, which can lead to growth of the cryptocurrency market as a whole.
“Logically, this price movement must affect and ETH. A similar pattern was observed at the turn of 2016-2017, when Ethereum started the explosive growth of BTC and followed him, — say market researchers. — At the moment, the dynamics of prices of some token shows possibly [ETH]”
We will remind, in September blockchain startup MakerDAO received a $15 million investment from Andreessen Horowitz (a16z).