By looking at the market, measured by the MVIS CryptoCompare Digital Assets 25 Index (MVDA25), one could conclude that October was an uneventful month. The market mostly moved sideways, recording a slightly positive monthly performance of 4.3%. However, after taking a look at the performance of the top 25 crypto assets by market capitalization, one can see that it varied greatly. Ten assets ended the month in green, with the top three being Filecoin (+40%), Bitcoin (+28%), and Litecoin (+20%).

Bitcoin had a great month, and the capital continues to flow from altcoins into Bitcoin. By the end of the month, Bitcoin dominance stood at 63.7%, substantially higher than a month ago (58.0%).

The Solidum Actio portfolio underperformed compared to the market in the previous month. This is due to the fact that the portfolio is invested in a variety of assets. By the end of the month, the total number of holdings in the portfolio was 22. However, as mentioned, throughout October, the market was focusing primarily on Bitcoin, and therefore, all other altcoins either consolidated or decreased in price. Consequently, the portfolio experienced an underwhelming performance in the previous month.

Chart 1 - Solidum Actio Performance (2020-10)
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DISCLAIMER: This article is for informational and discussion purposes only and does not constitute a marketing message, an investment survey, an investment recommendation, or investment advice. The article was prepared exclusively for a better understanding of market dynamics.

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