Trakx Weekly Update: October 14

Key Crypto Market Figures

CTIs Weekly Performance

On the whole, crypto prices were flattish over the prior seven days as highlighted by the Trakx Top10 Crypto CTI gaining just 0.7% over the period. However, this performance metric masks a very distinct shift in momentum that occurred during the week as early negative price momentum was overcome by bullish demand – a trend that should persist if Uptober lives up to its name!

Regards the best performer within the suite of Trakx CTIs, the Meme CTI came top of the table, rallying 10.5% as crypto investors sought distraction from the generally low vol environment. By contrast, the weakest performer was the Interoperability CTI, after it dipped 3.1%.

One of the main crypto news events last week was the “naming” of Satoshi Nakamoto in the HBO Bitcoin documentary “Money Electric: The Bitcoin Mystery”. I added inverted commas around “naming” because the evidence presented was very circumstantial and certainly not convincing enough for most Bitcoin fans. Documentary producer Cullen Hoback decided Peter Todd, a well-known (at least in Bitcoin circles) Canadian Bitcoin core developer, was the sole genius responsible for creating the world’s first cryptocurrency. Notably, Todd was such a left-field choice that his name was not even listed as a possibility on the betting platform PolyMarket. In one memorable scene in the documentary, standing next to Adam Back – a long-standing candidate to be Satoshi who was included on Polymarket – Todd stated he was Satoshi, but it was clearly a tongue-in-cheek comment. Indeed, after the documentary aired and Peter Todd learned he had been named by Hoback as Satoshi Nakamoto he came out formally and denied he was the creator of Bitcoin.

Despite the media hype around the documentary, the price of Bitcoin actually did very little after the documentary dropped. The lack of price impact was, in part, because many Bitcoiners did not buy into Hoback’s theory but also, and more fundamentally, because at this point in time it no longer matters who created Bitcoin. By definition decentralized currencies are designed to function without a central authority figure, something Bitcoin has repeatedly proved for more than a decade and a half now. In fact, because it removes one potential source of near-term selling pressure, the news that the deadline for Mt. Gox to return BTC stolen from its clients during the 2014 hack has been extended by a year had greater impact on the Bitcoin price than the HBO documentary.

Sources: Trakx, Coingecko, Alphavantage

Market Trends

• Peter Todd named Satoshi Nakamoto in HBO documentary: Cointelegraph
• Trump-Supported World Liberty Financial Will Start Public Token Sale Next Week: CoinDesk
• Ripple Labs Co-Founder Donates $1 Million in XRP to Pro-Kamala Harris PAC: Decrypt
• Millennials pick crypto over other assets as $84tn wealth transfer looms: DLNews
• Avalanche Foundation to repurchase tokens sold to Terra’s LFG in 2022 deal, pending court approval: TheBlock
• British man sues council for $647M over lost Bitcoin in landfill: Cointelegraph

Trakx News

• We are proud to announce that we have successfully closed the public sale rounds on Dao Maker, Bit2Me, Finceptor, TrinityPad, and Poolz. In addition, we have secured multiple listing venues for the TRKX: Gate.io, BingX, Bit2Me, MEXC and Quickswap effective from today. This major milestone is another step forward for our project and are all excited about this next chapter!

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.

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.