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 yearn.finance (+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.