Bitpanda, a digital investment platform, rolled out at least four crypto indices for investors, providing more options by helping them to diversify their portfolios.
The company seeks to simplify investment in different cryptocurrency projects, such as the metaverse, decentralized finance (DeFi), smart contracts, and infrastructure through new automated crypto indices.
Through the Bitpanda Crypto Indices, the platform intends to take away the complexities of investing in the cryptocurrency markets by offering users a hands-off approach.
Eric Demuth, the CEO and co-founder of Bitpanda, said:
“We launched Bitpanda Crypto Indices as a game changer for all people interested in crypto, especially newer investors who didn’t know where to start building their crypto portfolios.”
Initially, Bitpanda established three crypto index products in 2020 to auto-invest in the top 5 to 25 cryptocurrencies depending on popularity determined by liquidity and market size.
Therefore, the new crypto indices intend to render more investment opportunities in evolving spaces like the metaverse and DeFi. Demuth added:
“These four new crypto indices allow people to invest in areas they are passionate about. There’s no hassle, no need to constantly research new crypto projects, just a simple way for everyone to diversify their portfolios.”
Therefore, Bitpanda sees the new crypto indices as a stepping stone toward offering investors long-term diversified portfolios by being able to purchase multiple assets in emerging areas.
The firm also acknowledged that the crypto indices would be rebalanced monthly depending on liquidity and market size.
Meanwhile, the Crypto Price Index (CPI) was touted as a game-changer in the cryptocurrency market, Blockchain.News reported.
It was anticipated to function like the Dow Jones Industrial Average by offering insights into the trading history of the major blockchain projects.
As many countries make advances toward supporting digital currency innovations, Zimbabwe’s Finance Minister, Mthuli Ncube, has confirmed that the government is exploring ways to let cryptocurrencies thrive.
Speaking to the country’s citizens at an event in Dubai last week, Ncube said the country is already creating an avenue to make digital currencies like Bitcoin legal, but not to become a legal tender, as in the case of El Salvador.
The minister pointed out the fact that digital currencies are now too big to ignore and that the embrace of digital currencies can help lower the cost of remittance to the country. This inflow is on track to hit $1 billion this year. Amongst the major considerations, Ncube noted the country is working on the launch of a crypto ETF. According to him, the plans for these products are already underway, and private investors are fronting the initiative.
While acknowledging that the nation has no plan to ban digital currencies, he explained, “but our view is that we do not want it to be a currency. Want this to be an investment class. So,… through the Victoria Falls Stock Exchange platform, we will try to create crypto-based products there, which is ring-fenced within the offshore zone.”
He reassured that the ministry “has taken the first step already and created a sandbox, at the Reserve Bank of Zimbabwe (RBZ), where the idea and everything else is being tested in a safe regulated, environment where it will then migrate to this safe Victoria Falls environment.”
There are no timelines for these crypto ETF pursuits. However, he noted that the active partners helping to develop the index weighting the ETF products will be based on are from Dubai, one of the growing financial hubs in the world today.
Crypto ETF products are becoming popular today. While relatively new, countries like Canada, Brazil, and Germany have active Bitcoin ETF products. The current move from Zimbabwe may place the country as the first in Africa to float the country’s first crypto ETF.
Financial news site Bloomberg and Galaxy Digital Management have expanded their crypto offering to track the performance of the decentralized finance space.
In a Thursday announcement, Bloomberg said it would launch an index currently tracking nine different decentralized finance, or DeFi, projects with Galaxy Digital. As of Aug. 1, these projects included Uniswap (UNI), Aave (AAVE), Maker (MKR), Compound (COMP), Yearn.Finance (YFI), Synthetic (SNX), SushiSwap (SUSHI), 0x (ZXR), and Uma (UMA).
“Decentralized finance is growing as the next major investment theme within crypto,” said Alan Campbell, Bloomberg’s multi-asset index business’ head of product management. “As liquidity and institutional custody solutions continue to grow, DeFi has become an increasingly compelling option for institutional investors.”
According to Bloomberg, the DeFi assets were selected “based on institutional trading and custody readiness” in the United States, in addition to the “quality of pricing.” The news outlet said no single project would ever represent less than 1% of the index’s overall value, but no more than 40%. The funds arm of Galaxy Digital, Galaxy Fund Management, will also offer its own passively managed fund tracking the performance of Bloomberg’s, listed under the ticker DEFI.
Related:Coop to include BadgerDAO in DPI DeFi index from August
The announcement comes three years after Bloomberg and Galaxy Digital first partnered to create a joint crypto benchmark index. At its launch in May 2018, the index tracked ten cryptocurrencies from the “largest, most liquid portion” of the market, which included Bitcoin (BTC) and Ether (ETH).
Bloomberg and Galaxy Digital’s new DeFi index follows the creation of a DeFi Crypto Index Fund operated by fund manager Bitwise in February. Though Bitwise reported returns of 46.4% over the last month, the fund has a net asset value of 8.6% less since its inception.
Bitcoin and Ethereum were CB10’s top gainers last month.
The rebalancing for August saw only small changes in token allocation percentages with no new additions.
Dogecoin was the biggest loser of the index as the meme crypto dropped by 18.1% in July.
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Crypto Briefing’s crypto market index CB10 has made additional room for Bitcoin and Ethereum during the rebalancing for August.
CB10 Index Records Gains
Crypto Briefing’s CB10 index jumped in July with the help of the two leading cryptocurrencies.
The CB10 index is an experiment composed of the top ten cryptocurrencies traded on top U.S. exchanges and weighted by market capitalization. The technique is similar to the S&P 500 and NASDAQ 100 index.
CB10 has gained 17.3% since the last rebalancing event on Jul. 1. Bitcoin and Ethereum’s overall gains during the same period were 19.5% and 22.1% respectively.
The index’s performance has benefited from higher gains than BTC in the first six months to continue outperforming Bitcoin’s year-to-date gains of 31%. ETH leads with 250% gains, while CB10 has returned 50% gains since its formation on Jan. 5. Dogecoin and Cardano’s ADA token were the CB10’s biggest losers last month.
Crypto’s Latest Market Trends
The crypto market showed its first signs of recovery after the recent crash in May, with Bitcoin rising to $40,000. Ethereum benefited from this uptrend as the imminent EIP-1559 update added to the bullish sentiments.
If Bitcoin consolidates above the $42,000 resistance or Ethereum breaks $3,000, the market can expect the capital to flow towards other cryptocurrencies.
While the trading volumes are starting to pick up for other cryptocurrencies, the flow to smaller market capitalization tokens is restricted as BTC is yet to re-establish a strong bullish narrative.Traders are showing reluctance in the bullish stance. They fear that the recent push to $40,000 could be a dead-cat bounce or bullish correction in a long-term negative trend, suggesting that the bottom could be below $29,000.
Crypto Briefing’s experimental $1000 portfolio snapshot before rebalancing
DOGE’s poor performance in the CB10 index can be attributed to the cooldown in bullish euphoria after Elon Musk stopped tweeting about the coin. The values of other cryptocurrencies excluding DOGE and ADA increased in near lock-step with Bitcoin and Ethereum.
The crypto market is looking for a definitive direction as cryptocurrencies below ETH nervously follow the top two.
CB10 Rebalances for August
The reconstitution of Crypto Briefing’s experimental $1,000 portfolio in CB10 was carried out at 10 am on Jul. 2, 2021.
Its composition for August saw no change in the cryptocurrencies from July’s top ten list. However, there were minor percentage changes and consequent ranking adjustments.
Bitcoin and Ethereum ate the most from other tokens’ shares, adding 1.92% to their allocations. Ethereum, once again, constitutes more than one-fourth of the index’s distribution.
The change in almost all other cryptocurrencies was negative, nonetheless, with a small magnitude of less than 1%. Furthermore, Uniswap changed positions with Bitcoin Cash to take the sixth spot, as Chainlink replaced Solana at number nine with small percentage changes.
CB10 Rebalancing on Aug. 2
This month’s CB10 rebalancing can be carried out rather easily by allowing for small errors in the calculation. Instead of reallocating all tokens, a change in the top five tokens alone could do the trick. Investors can sell the top tokens for a stablecoin, Bitcoin, or Ethereum pair and then rebuy according to the new percentages.
Some may also choose to book a part of their profit before reinvesting for the next month. For experimental purposes, Crypto Briefing will continue to compound the returns every month.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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Cryptocurrencies are gaining more mainstream recognition as the S&P Dow Jones Indices (S&P DJI), one of the world’s leading index providers, announces that it will track a collection of over 240 cryptocurrencies withits own new cryptocurrency index.
The new index, dubbed the S&P Cryptocurrency Broad Digital Market (BDM) Index, will provide a snapshot of the broader cryptocurrency market’s performance.
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The BDM is the latest expansion of the S&P DJI’s recently created collection of digital asset performance trackers, dubbed the “S&P Digital Market Indices.” The BDM contains four subset indices that track various components of the crypto market, including the performance of top cryptocurrencies with large market caps, as well as overall market performance excluding the top digital assets like Bitcoin and Ethereum.
These four subset indices are called the S&P Cryptocurrency LargeCap Index, BDM Ex-MegaCap Index, BDM Ex-LargeCap Index, and the LargeCap Ex-MegaCap Index.
Crypto data provider Lukka is partnering with S&P to determineeligibility and pricing of individual components of the indices.
Peter Roffman, global head of innovation and strategy at S&P DJI, adds,
“For more than a century, our indices have offered insight into how the markets are performing. Now, with the introduction of the S&P Cryptocurrency Broad Digital Market Index, we’re providing that answer to cryptocurrency investors.
The expansion of our Digital Market Indices family gives one of the broadest snapshots yet of this rapidly growing asset class with the ability to slice and dice by market cap. We’re excited to bring this significant level of additional transparency to the cryptocurrency market.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The sixth rebalancing of Crypto Briefing’s CB10 was carried out at 10:00 EST on Jul. 1.
Bitcoin was the only cryptocurrency to see a positive allocation during this month’s rebalancing.
Solana replaced Polygon in the top ten index.
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The half-yearly gains of Crypto Briefing’s CB10 index have outperformed Bitcoin despite the market’s negative trend in the last two months.
CB10’s Performance in the Crypto Market
Crypto Briefing’s experimental index of the top ten cryptocurrencies by market capitalization has closed in the red for a second consecutive month. The six-month gain of the index is 27.7%—2.7 times higher than Bitcoin.
BTC has yielded only 10% so far since the inception of the CB10 Index in January. Ethereum’s gains continue to surpass Bitcoin and CB10 at 102.2%.
The CB10 crypto market index implements the S&P 500’s strategy of investing in top 500 stocks based on percentage weight distribution by market capitalization. It is formed of the top ten tokens by market capitalization (according to CoinGecko) that are available to trade on U.S.-based exchanges. The index is rebalanced on a monthly basis.
By June end, the earnings from a $1,000 portfolio in CB10 invested at the beginning of this year stood at $277, down from $489 last month.
Source: Crypto Briefing
With a total percentage share of 84.5%, Bitcoin and Ethereum were the top performers of the index last month. Chainlink and Polygon were the top losers, with more than 40% downside move. The net loss in June was 14.2%.
Rebalancing for Second Half of 2021
The rebalancing for the month of July saw some reshuffling between the percentage weights of the existing cryptocurrencies. The number of cryptocurrencies with less than 1% allocation has increased from one to five since last month. Ethereum’s share saw the biggest drop of all at -1.56%. Together, Bitcoin and Ethereum now command 86.57%.
Apart from that, Solana replaced Polygon, placing ninth on the index with a 0.9% share.
Dogecoin’s price failed to revive despite positive engagement from Elon Musk. DOGE fell one place from position three to four during this month’s redistribution.Cardano is now the third-largest cryptocurrency of the index.
Source: Crypto Briefing
The market capitalization of CB10’s last five tokens is in a tight range of around $7.5-9.5 billion. These cryptocurrencies—Bitcoin Cash, Uniswap, Litecoin, Solana, and Chainlink—could witness multiple ranking changes over the course of this month. Moreover, an evenly balanced portfolio across these assets provides a better risk: reward ratio than investing in one alone.
Crypto Briefing readers who copy CB10 may choose to realize their half-yearly gains and reinvest the original amount for the next half of the year. The process of rebalancing and compounding options is outlined in the first distribution schedule after the January launch.
Visible Market Trends
One of the clearest trends in June was the rising dominance of Bitcoin. Last month, Bitcoin’s price dropped by 10% whereas, the price of all other cryptocurrencies in the index slumped between 20% to 50%. This inflow from the lower cap tokens to Bitcoin is characteristic of a bear trend when investors seek refuge in a comparatively less volatile asset.
While Ethereum benefits from higher gains than Bitcoin from earlier this year, its percent weight in the index dropped by 1.5%, following a negative month.The ETH:BTC ratio dropped by 4% in June. ETH struggled to break above the resistance at 0.065 BTC, with support at 0.055 BTC.
Source: TradingView
In the DeFi spectrum, the total liquidity of the pool and the price of governance tokens continue to feel the pressure of the market.
Bitcoin’s price rose up to $40,000 and Ethereum surpassed $2,800 for a short period in the first half of the month. However, the market continued to face hurdles, particularly from global regulatory oversight. The effects of China’s severe crackdown were visible across the market with a near 50% hashrate decline in Bitcoin’s mining network. The largest crypto exchange in the world, Binance, currently faces legal troubles in multiple countries.
Positive adoption of these blockchain projects seems to be the only way out of this downtrend.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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The June rebalancing of Crypto Briefing’s CB10 was performed at 10:00 AM EST on Jun. 1.
Cardano, Dogecoin and Ethereum were the top performers of the index last month.
Polygon’s MATIC replaced Solana with a 0.99% allocation.
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Crypto Briefing’s CB10 index of the top ten cryptocurrencies weighted by market capitalization yielded a negative return of 27.6% in May.
CB10 May Performance
Crypto Briefing’s CB10 index steered through the turbulent May period with higher gains than Bitcoin.While Bitcoin registered a monthly loss of 35.5%, CB10 dipped 27.6%.
The index borrows from the principles of the S&P 500 to distribute funds based on their market capitalization. The distribution enables lower volatility for CB10 and an improved risk return ratio.
Cardano’s native token ADA was the top performer among CB10 tokens last month. While most tokens ended May in red, ADA’s monthly gain was 28.5%. The anticipation of an upgrade to bring smart contracts to Cardano fared well for its price.
DOGE and ETH contained their monthly losses at 6.5% and 10.5% respectively. On-chain statistics, the strengthening DeFi narrative, and growing institutional interest have all fueled overwhelmingly bullish sentiments for ETH in recent months.
Moreover, the community engagement around Dogecoin has been highly active, helped in part by Elon Musk’s promises of improving the source code and occasional promotional tweets. DOGE was among the top performers during last month’s crash.
The monthly losses in Bitcoin and many other cryptocurrencies were greater than 30%.
Source: TradingView
Bitcoin Dominance Slides
The most notable trend in May was the strong correction in crypto markets, commencing May 12. In addition to the Bitcoin dip, many DeFi tokens and lower cap coins suffered losses of 50% or more after the market crashed on May 19.
Bitcoin’s market cap dominance slid below 50% for the first time since 2018. On May 19, there was a brief surge in dominance. Nevertheless, the rotation back to Bitcoin was limited following the crash. Currently, BTC holds 40.2% of crypto’s $1.73 trillion market cap.
Ethereum’s share of the crypto market increased to 18.1% with a total market value of $313 billion.
Source: Crypto Briefing
The Rebalancing
The portfolio rebalancing was performed at 10:00 EST on Jun. 1, 2021.
The composition of the index changed primarily for the top four cryptocurrencies. Once again, Ethereum took a significant portion of Bitcoin’s share in the index.
Bitcoin’s percentage weight dropped from 64.69% to 58.52%, while ETH, DOGE, and ADA saw increased allocations of 3.98%, 0.41%, and 2.08% respectively.
Polygon’s MATIC made its debut entry in the CB10 index, replacing SOL at the tenth position. Its share at the time of rebalancing the index was 0.99%.
Source: Google Sheets
Investors can sell their tokens for a stablecoin or Bitcoin and buy back newly allocated amounts to rebalance the index. The details of the process are listed in the first portfolio rebalancing in February.
Last but not least, it’s worth noting that the compounded strategy may not appeal to all readers.
Indices based on strategies like distribution by market capitalization or segments are effective mediums for passive investors. They improve the risk return ratio by diversification. However, the investors must also have an exit strategy for their investments. They can choose between booking profits every month (or even the quarter), or continue compounding the gains.
For instance, if investors who had started with $1,000 took their gains during the monthly rebalancing, they would have added $800 in the first four months. Accounting for last month’s 27.5% loss, the total profit in five months comes to $525. The compounded return figure is $493. Thus, while compounding yields superior returns during positive trends, it might not be suitable for volatile markets. For experimental purposes, Crypto Briefing will continue to follow the compounded strategy.
Find live portfolio stats here.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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Crypto Briefing’s CB10 portfolio reconstitution for March resulted in increased allocation in Bitcoin and Cardano’s ADA.
The increasing concerns about Ethereum’s rising fees seems to have created a strong tailwind for competition.
Dogecoin entered the CB10 index replacing AAVE.
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Crypto Briefing’s CB10 experimental index was able to cushion the recent downtrend in ETH. This protection was thanks to diversification and disciplined investment in the top ten cryptocurrencies weighted by market capitalization on CoinGecko for U.S. investors.
Crypto Briefing CB10 Index Performance
The CB10 crypto index returned 44.4% in February.
A hypothetical $1,000 invested on Jan. 5 grew to $1,080 (yielding 8%) by month’S end and has risen by another $491 in February.
CB10 portfolio Update on Mar. 4 before rebalancing.
The cumulative return in CB10 sinceformationat the beginning of the year is 57.7%. In comparison, BTC has risen by 59.5% and ETH 27.5% year-to-date.The index’s performance closely tracked the alpha cryptocurrency’s price action.
CB10, Bitcoin and Ethereum Performance in February.
The rising gas fees on Ethereum showed cracks in ETH price as the market’s liquidity flew to alternative projects. Numerous DeFi projects in 1inch, Compound, The Graph, and others expanded their reach beyond Ethereum.
Ethereum’s competition in Binance Smart Chain and Cardano grabbed the market’s main attention as BNB and ADA gained 360% and 175% since Feb. 1.
BNB (blue), ADA (orange), DOT (light blue), and ETH (yellow) price comparison since Feb 1. Source: Trading View
In February, across crypto markets, another notable trend was the shift back to native Layer 1 tokens compared to DeFi governance tokens.
Rebalancing CB10 for March
The reconstitution of the CB10 portfolio was successful at 10: 20 am EST on Mar. 4. The updated distribution of hypothetical $1,000 can be found here.
Ethereum was the biggest loser in this month’s rebalancing at negative 3.43%, thanks to the rising popularity of Ethereum’s competition. BTC and ADA were this month’s biggest winners with a 0.96% and 1.67% increase in allocation.
While BNB’s extraordinary rise has brought mainstream DeFi discussion around it, still, it did not make it to Crypto Briefing’s index as the portfolio is U.S. based, and neither Kraken, Gemini, nor Coinbase Pro lists BNB.
CB10 March Update. Source: Google Sheets
Instead, Dogecoin entered the index during the reconstitution with 0.52% allocation, replacing AAVE at 0.44%. DOGE was eliminated last month due to extreme volatility in the token. However, DOGE holders have shown tremendous resilience in the last couple of weeks.
DOGE replaced AAVE; currently, the only DeFi governance token in the top ten crypto index is UNI.
The methodology for the rebalance was shared in last month’s update. Investors can opt for profit booking for the current month or reinvest proceeds yet again.
Disclosure: The author held Bitcoin at the time of press.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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In a bid to make cryptocurrency pricing more available to the general public, leading trading solutions provider Cboe Global Markets is set to integrate crypto indexes into its system by the second quarter of 2021. The company made it known that it had entered into a partnership with CoinRoutes, which would allow it to share