Weekly News for Institutional Investors
Key Crypto Market Figures
Crypto Tradable Indices (CTIs) Weekly Performance
Crypto markets hit new lows as Trakx Top 10 Crypto Index lost 15% in price over the week and digital assets’ total market cap is now under $1T: a hotter than expected May US CPI inflation report prompted speculation that the Fed could lift the pace of interest rate hikes at this week’s policy meeting despite soft economic growth momentum. This challenging macro backdrop, which hit all risk asset markets, saw the recent range-bound trading in crypto resolve to the downside with BTC and ETH breaking to their lowest levels since hitting their all-time highs last November. Adding to the negative sentiment, the crypto lending platform Celsius announced it was pausing all withdrawals, swaps, and transfers between accounts in response to “extreme market conditions”. (see: Celcius Blog)
Trakx Sources: Coingecko and AlphaVantage
- As energy prices soar, the bitcoin miners may find they have struck fool’s gold: TheGuardian
- Economist Peter Schiff Explains Why He Expects Bitcoin to Crash as Recession Deepens — Warns 'Don't Buy This Dip': Bitcoin.com
- Will El Salvador Default on Its Sovereign Debt in 2023?: Coindesk
- Ethereum just completed a successful dress rehearsal for its most important upgrade ever: CNBC
- Blockchain for sustainable development: The case of Ghana: Cointelegraph
- Bitcoin falls below $26K as entire crypto market slides further: Decrypt
- DeFi lending giant Celsius halts withdrawals: Celsius has not said what it plans to do next: TheVerge
- Lionel Rebibo chaired the cryptocurrency panels at the 14th Conference on Advances in the Analysis of Hedge Fund Strategies organised by Imperial College Business School and Brevan Howard.
- Ryan Shea was quoted in the article Cryptomonnaies : Quelles sont les blockchains les plus écologiques: Capital.fr
- Trakx is inviting IFAs this week in Paris to discuss Macro Perspectives and Crypto Market Evolution, with Christophe Barraud, Chief Economist, Strategist at Market Securities.
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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