In the first half of August, the market continued with its bull run and gained 22.9% in the first 17 days of the month. This was followed by a sharp correction as the market shed 15.2% of its value over the next 10 days. In the last days of the month, the market rebounded and ended with a positive return of 14%.

In total, 22 of the 25 assets by  market cap recorded a positive performance in August. DeFi is clearly entering the main stage, as the top three performers were (+711% – not a typo), UMA (+424%), and NEM (170%). Altcoins continues to strongly outperform Bitcoin, which gained 3.2% in August. Bitcoin represented 57.3% of the total cryptocurrency market capitalization by the end of the month, down from 62.4% a month prior.

On 27 August, the Investment Committee decided to include several new assets to the portfolio, namely 0x (ZRX), EOS (EOS), Cosmos (ATOM), Zcash (ZEC), Litecoin (LTC) and Ripple (XRP). The Solidum Cautus portfolio now consists of 10 assets in total.

The Solidum Cautus portfolio recorded a positive monthly performance of 9.06%, which was slightly below the market’s performance of 14.01% from the previous month.

Chart 1 - Solidum Cautus Performance (2020-08)

Nonetheless, the Solidum Cautus portfolio included some of the best performing crypto assets, namely Chainlink (+102.19%), Ethereum (+25.91%) and Binance Coin (+12.19%). The performance of these assets greatly contributed to the overall monthly performance of the portfolio in August.

Chart 2 - Solidum Cautus Top Performers (2020-08)

By the end of the month, the Solidum Cautus allocated 58.5% of the portfolio to active investments and 41.5% to stablecoins. Lastly, by the end of July, the three highest weighted holdings in the portfolio were Chainlink, Binance Coin and Ethereum.

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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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