Trakx Weekly Update: May 22, 2023

Weekly Update
• May 22, 2023
Trakx Weekly Update: May 22, 2023

Key Crypto Market Figures

Trakx Weekly Update: May 22, 2023

CTIs Weekly Performance

Crypto prices were broadly unchanged over the past week, with the Trakx Top 10 Crypto CTI flat over the past seven days. The best performing Trakx Crypto Tradable index was the NFT Metaverse CTI, which rebounded 4% w/w driven by a 28% rally in Render Token, the native token of Render Network, a provider of decentralized GPU rendering. Also in positive territory last week were the Decentralized Exchange CTI and the Top 10 Defi CTI, up 2% and 1% respectively. Meanwhile, the ESG CTI was the weakest performer, losing 3% on the week.

The lack of direction within the broader crypto market, and the narrowing in trading ranges which has pushed implied crypto volatility towards record lows, reflects ongoing investor uncertainty about the macro landscape, a topic featured in a recently published Trakx blog post (see below). Even the news that stablecoin issuer Tether would start regularly investing 15% of its profits into Bitcoin as part of a reserve diversification strategy failed to have a lasting positive impact.

Trakx Weekly Update: May 22, 2023

Sources: Trakx, Coingecko, Alphavantage

Market Trends

  • Tether to Purchase Bitcoin as Part of Reserves Strategy Shift: Bloomberg.
  • Ordinals sends LTC and DOGE network activity surging for 3 straight weeks: Cointelegraph.
  • Gemini Says Genesis Parent DCG Missed $630 Million Payment: Coindesk.
  • Countdown to Bitcoin halving: Less than 50,000 blocks remaining: Cryptoslate.
  • Ledger's New Wallet Recovery Feature Sparks Community Backlash: TheDefiant.

Trakx News

Trakx CTIs Performance

Trakx Weekly Update: May 22, 2023

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.
TRAKX SAS,  10 rue de Penthièvre, Paris, 75008, FRANCE - French société par actions simplifiée Paris Trade and Companies Register number 850 626 078

Crypto Asset Service Provider (CASP) Registered with the Autorité des Marchés Financiers (AMF) under number E2021-020

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.

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