Trakx Weekly Update: August 26

Key Crypto Market Figures

CTIs Weekly Performance

In a week marked by significant gains, the Trakx Top10 CTI grew by 9.4%, reflecting strong performance across the broader crypto market. Leading the charge was the Trakx AI CTI, which soared by 32%, closely followed by the Trakx DePIn and NFT Metaverse CTI, showcasing robust growth. On the other end, the BTC Momentum CTI lagged behind, with a modest increase of just 0.5%, making it the weakest performer of the week.

While the market overall showed strength, the crypto world was abuzz with news outside of market movements. Notably, Pavel Durov, the CEO of Telegram, was arrested in Paris. This development sent shockwaves through the tech and crypto communities, given Telegram’s significant role in the cryptocurrency space as a platform for communication and information sharing. Durov’s arrest raises questions about potential implications for Telegram’s operations and the broader impact on the crypto ecosystem.

Institutional interest in cryptocurrencies also remained in focus this week. Republican presidential candidate Donald Trump recently voiced support for the idea of a U.S. Bitcoin reserve, a proposal formally introduced by crypto-friendly Senator Cynthia Lummis. Interest is also growing internationally, with reports that Norway’s Sovereign Wealth Fund (NBIM) and the Swiss National Bank (SNB) have both significantly increased their holdings in MicroStrategy, the company led by Bitcoin advocate Michael Saylor. The substantial increase in NBIM’s stake over the past year suggests a strategic decision to enhance exposure to digital assets, although this remains a small portion of their overall portfolio compared to traditional assets.

Sources: Trakx, Coingecko, Alphavantage

Market Trends

• Telegram CEO Pavel Durov arrested in France Cointelegraph
• Justin Sun’s USDD stablecoin has lost its Bitcoin backing, raising concerns about its stability Decrypt.
• A crypto law firm lost its appeal to push the SEC to classify Ether as a security Cointelegraph.
• Russia is planning to launch two crypto exchanges and a BRICS stablecoin Coingape.
• Crypto OTC desks now hold over $22 billion in Bitcoin, according to CryptoQuant CoinDesk.
• Spot Bitcoin ETFs have seen $65 million in net inflows, extending a streak of positive flows to six days The Block.
• Despite rumors, Binance founder CZ is not free but is reportedly in an LA halfway house Decrypt.

Trakx News

• Trakx will be attending the Patrimonia Conference in Lyon on September 25 & 26 and looks forward to meeting our IFA clients and prospects.
• Given the recent efforts and commitment of our new Trakx Ambassadors, we have decided to double the monthly rewards!

Trakx CTIs Performance

Sources: Coingecko and AlphaVantage

*Return of bitcoin is calculated since 01/05/2020, while CTIs performances were calculated since their respective launch date.
**Includes simulated performance.
***The risk signal is determined according to the historical volatility level, the higher the riskier.

Trakx is a global fintech company creating new standards for digital asset investments. Through our trading platform, we offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors with a high degree of compliance, custody and liquidity.

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Disclaimers: No Investment Advice. Index returns and statistics are for illustration only. Index returns do not reflect any transaction costs or expenses. Past performance does not guarantee future results. The information provided in this newsletter does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the newsletter content as such. Trakx.io does not recommend that any cryptocurrency should be bought, sold, or held by you. Readers shall conduct their own due diligence and consult their financial advisors before making any investment decisions.