Trakx Digital Assets Newsletter

Newsletters Jan 09, 2023

Weekly News for Institutional Investors

Key Crypto Market Figures

Crypto Tradable Indices (CTIs) Weekly Performance

Crypto markets got off to a Bonk-ers new year. Solana, whose token suffered last year due to the strong association with FTX’s Sam Bankman-Fried, was up just shy of 50% over the past week – strong gains that contributed to lifting the ESG and Top Ten Proof-of-Stake indices, which were up 22% and 9.5% respectively. Sentiment was boosted by the launch of a dog-themed cryptocurrency called Bonk on the Solana blockchain in late December. The meme coin was airdropped to the Solana community and surged higher amid a speculative frenzy. BONK’s developer team was prompted to burn their allocation (5% of the total) to support the token, but it remained up over 2,000% on the week. Aside from speculative meme-coin mania, cryptocurrencies were mainly in the green (Trakx Top 10 Crypto Index +4.9%). The uptick came as US non-farm payrolls showed continued jobs expansion but a cooling in wage growth, which investors viewed as supporting a soft-landing scenario. Attention now turns to Thursday’s US CPI inflation report – the most significant economic data release prior to the January 31-Feb 1st FOMC policy meeting (consensus expectation: 25bp hike).

Sources: Coingecko and AlphaVantage

  • Robert Kiyosaki: SEC Will 'Crush' Most Cryptos, Burry on US Recession, Gold Bug Schiff on Inflation in 2023: Bitcoin.com
  • Bitcoin retakes $17K as interest rates plunge following economic reports: Coindesk
  • Can crypto markets really get any worse? Industry experts say yes – and break down 3 worst-case scenarios for 2023: Insiders
  • Touch, smell become the next big thing for the metaverse at CES 2023 Cointelegraph
  • Developers burn 5 Trillion BONK as Solana-based meme coin slides: Decrypt
  • These Will Be the Hottest Cryptocurrencies in 2023: TheMotleyFool

Trakx News

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.

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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