Trakx Digital Asset Newsletter

Newsletters May 24, 2021

Weekly news for Institutional Investors

Trakx offers sophisticated digital investment strategies for institutional investors and experienced traders. We do that by providing digital-asset index products on a platform with compliance, custody, and liquidity needed by large investors.

Crypto Traded Indices (CTIs) Weekly Performance

Crypto markets first dropped on the 13th of May, following Elon Musk’s tweet about bitcoin’s environmental concerns. Since then, many digital assets also cracked, following China’s announcement to ban miners and services related to crypto transactions. This was further compounded by Sunday’s decision from Huobi (coindesk) to suspend some of its products and services - on the back of China’s previous announcements. To a lesser extent, cryptos were also hit by various attacks on some DeFi protocols. This led bitcoin to fall to a four-month low of $31,390 on Sunday.

The market is now trying to consolidate but it will most likely remain choppy in the next few weeks, with many technical analysts expecting bitcoin to remain range-bound between $31 000 and $42 000.

Sources: Coingecko and AlphaVantage

  • Bitcoin tumbled to 4-month low after crypto miners halted operations in China: MarketInsider
  • Bitcoin, Ether Now Down 50% From Last Month’s ATHs as Rout Resumes: Coindesk
  • Chinese Bitcoin miners abandon ship ahead of incoming crypto crackdown: Cointelegraph
  • The DeFi ‘Flash Loan’ Attack That Changed Everything: Coindesk
  • China's bitcoin crackdown comment sparks USDT sell-off on OTC desks: TheBlockCrypto
  • Green blockchain should work smarter, not harder: Cointelegraph
  • Bitcoin Adoption Picks up Steam in Peru After Presidential Ballot: Bitcoin.com
  • Ark Invest CEO Reaffirms $500K BTC Price Prediction, Says Bitcoin Is in 'Capitulation Phase': Bitcoin.com
  • Crypto Hedge Funds Show Growing Appetite for DeFi: PwC: Coindesk

Trakx News

Trakx has published the memo Swing Prices In Crypto

Trakx CTIs Performance

Sources: Trakx, Coingecko

*Trakx CTIs calculations take into account backtest simulated performances calculated since 31 Dec 2019.

**Return of bitcoin is calculated since 01/05/2020, while CTIs performances were calculated since their respective launch date.

***Most NFT protocols are too young to allow calculation of simulated performance prior to February 2021. Trakx Top 10 NFT statistics only include real track record since 31 Mars 2021.

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 advisor before making any investment decisions.

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Carole Laizet

Senior marketing manager with 15+ years of experience in the Financial Industry (traditional Banking as well as Crypto Assets). Responsible for market research @trakx.io