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 ten 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 at the end of the month, down from 62.4% a month ago.

The Solidum Crypto Quant Strategy recorded a positive monthly performance of 12.32%, slightly underperforming the market’s performance of 14.01%, in the previous month.

Chart 1 - Solidum Crypto Quant Performance (2020-08)

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

Chart 2 - Solidum Crypto Quant Top Performers (2020-08)

Lastly, by the end of the month, the Solidum Crypto Quant Strategy allocated 29.60% of the portfolio to active investments and 70.40% to stablecoins.

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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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