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%).

Due to the increasing dominance and consistent positive performance, the Investment Committee decided to redistribute the portfolio and allocate 43.4% of the portfolio to Bitcoin. The only other asset actively invested in the Solidum Crypto Quant portfolio by the end of October was Binance Coin, with a 12.9% allocation. This tactical decision greatly contributed to the overall performance in the past month.

The portfolio outperformed the market in October, with a monthly gain of 5.34%, compared to the market’s return of 4.34%.

Chart 1 - Solidum Crypto Quant Performance (2020-10)
Our Crypto Strategies

Follow us on social media:

Facebook | LinkedIn | Twitter | Telegram | YouTube

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.

Sign up for our monthly newsletter!

Receive our news straight to your inbox!

Sign up for our monthly newsletter!

Receive our news straight to your inbox!