Introducing the TokenSets Weekly Market Report – Set Labs

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Last week, we introduced Set Social Trading to the world. Set Social Trading is a marketplace and network that enables traders to create their own trading pools where they can enact trades on commodities such as ETH, WBTC, USDC, DAI, cUSDC, and cDAI. Followers can then join these trading pools, copying every single action the Trader (or trading algorithm) enacts. This feature is expected to go live in early 2020 but if you’d like early access simply fill out this form.

After a brutal drawdown of the entire crypto market a couple of weeks ago (due to uncertainty surrounding China and crypto), both BTC/USD and ETH/USD have slightly recovered — up 5% and 5.4% respectively — but are currently marching sideways.

Most of purchase volume this week was for the ETH Range Bound Min Volatility so traders may be expecting sideways/choppy markets in the short-term.

Key indicators:

  • The 20 day simple moving average is currently at $163.76
  • The RSI for ETH is currently at 28 (slightly oversold)
  • The 12 day exponential moving average is currently at $150.08
  • Total ETH locked in DeFi is down slightly from 2.657 million to 2.622 million (a change of -1.4%)
  • God’s Unchained users have traded ~$300k worth of cards over the last 7 days
  • ~43% of Sai supply has been migrated to Dai so far
  • Over the last 3 months, Kyber Network and Uniswap have grown to account for ~60% of total decentralized exchange market share

Social trading (sometimes referred to as mirror trading or copy trading) is a form of investing that allows people to follow the trading behaviour of more experienced traders in order to gain exposure to a myriad of investment strategies.

Social trading can help prevent amateur investors from making poor trades or investment decisions, reduce their emotional stress, give them optionality in which trader they want to copy, and allows them to verify results of traders before making a commitment.

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