Key Crypto Market Figures
Crypto Tradable Indices (CTIs) Weekly Performance
After a very strong performance in January, with market leader Bitcoin up around 40% - the best monthly performance since the late bull market surge in October 2021 - prices consolidated over the past week. While the Fed confirmed prior expectations that the pace of monetary tightening was decelerating the blow-out US employment report (+517k) tempered some of the bullishness.
Amongst our CTIs the best performers were exchange indices, with the CEX and DEX CTIs up 6% and 3% respectively, an indication that the turn in crypto sentiment is expected to boost trading activity.
The subdued price action did not, however, mean the crypto community was controversy-free. A developer mined the largest ever block in Bitcoin’s history containing a cartoon wizard NFT. Some Bitcoiners celebrated the news arguing the use of such “ordinals” extends Bitcoin’s use-cases. However, the purists, who prefer to see Bitcoin used for payment transactions, were clearly unimpressed describing the transaction as “spam”. Could this be the opening salvo in yet another Bitcoin narrative war?
Sources: Coingecko and AlphaVantage
Market Trends
First mover Asia: Bitcoin not ready to soar as investors await Fed Chair speech, more earnings: Coindesk
Ethereum devs finalize fork on the Zheijang testnet, here’s what it means for ETH: FxStreet
Bitcoin inches higher, GBTC discount narrows as share price perks up: TheBlock
$20K Bitcoin may return, says analyst as US unemployment hits 54-year low: Cointelegraph
Giant Bitcoin 'Taproot Wizard' NFT Minted in Collaboration With Luxor Mining Pool: Coindesk
What Is Canto? The Token That Rallied 700% in a Month: decrypt
Trakx News
Ryan Shea has published his latest research paper about crypto lending Interest-ing Times (Part II)
Ryan Shea was quoted by Sam Venis (The Block) in his article Bitcoin slides after reaching highest level since August on Sunday
Trakx CTIs Performance
Sources: Coingecko and AlphaVantage
*Return of bitcoin is calculated since 01/05/2020, while CTIs performances were calculated since their respective launch date.
**Includes simulated performance.
***The risk signal is determined according to the historical volatility level, the higher the riskier.
Trakx is a global fintech company creating new standards for digital asset investments. Through our trading platform, we offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors a high degree of compliance, custody and liquidity. Trakx is registered with the French regulator (AMF).
Disclaimers: No Investment Advice. Index returns and statistics are for illustration only. Index returns do not reflect any transaction costs or expenses. Past performance does not guarantee future results. The information provided in this newsletter does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the newsletter content as such. Trakx.io does not recommend that any cryptocurrency should be bought, sold, or held by you. Readers shall conduct their own due diligence and consult their financial advisors before making any investment decisions.