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Cryptoassets of the Month: LUNC, ATOM, and More

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3 år sedan

den

22 september, 2022

Every month, our research team will present the cryptoassets of the month that increased or dropped in value by more than 15%. With a data-driven approach, we highlight the most important developments and events causing price movements.

Terra Classic (LUNC)

192%

Terra Classic’s native token LUNC rose 192% over the past month in a rally mainly driven by speculation, as the network’s fundamentals haven’t changed since the collapse of the network’s algorithmic stablecoin UST in May. Notably, the cryptoasset is still 99.99% below its April all-time high price of $119. On Sunday, Bloomberg reported that South Korean prosecutors had asked Interpol to help arrest Do Kwon, Terra’s founder.

Cosmos (ATOM)

28%

The Cosmos Hub’s native token ATOM rose 28% in the past month as the ”App-Chain” thesis gained significant traction among developers and investors. For instance, the derivatives exchange dYdX announced on June 22 that it was moving away from Starkware (Layer 2 on Ethereum) to become an application-specific blockchain on Cosmos. Additionally, ATOM is likely rallying in anticipation of the upcoming week’s Cosmoverse conference, in which it is expected that Interchain Security will be introduced to expand upon ATOM’s utility and value accrual.

Bitcoin (BTC)

16%

Bitcoin traded down 16% over the past month as the uncertain macroeconomic environment still weighs heavily against risk assets, not just crypto. For reference, BTC’s 30-day rolling correlation to equities remains high by historical standards (0.58) but is down from June highs (0.82). Despite the risk-off environment, we have observed signs of accumulation among long-term holders (LTH). On September 14, the total supply held by LTH, defined as BTC that has been dormant for more than 155 days, reached a new all-time high of 13.62M BTC (71% of circulating supply).

Tezos (XTZ)

20%

Tezos’ native token XTZ traded down 20% over the past month, in line with the general market downturn. Tezos is a smart-contract platform that can evolve by upgrading itself without having to split (”fork”) the network into two different blockchains. On September 8, the French newspaper L’Équipe announced that it would launch an NFT collection powered by Tezos to commemorate this year’s Ballon d’Or, the most prestigious football award ceremony.

Polkadot (DOT)

–20%

Polkadot’s native token DOT also decreased 20% over the past month. Polkadot’s downturn is notable considering that its main competitor, Cosmos (ATOM), has appreciated significantly over the same period. The state of both ecosystems suggests that developers prefer the Cosmos SDK framework over Polkadot’s Substrate. Another viable explanation is that Polkadot’s parachain auctions and mandatory shared security via DOT may defer projects which prioritize self-sovereignty and want to ship faster.

Solana (SOL)

–21%

Solana’s native token SOL traded down 21% over the past month. Yesterday, the Solana Foundation released a report detailing the carbon footprint of Solana’s blockchain, showing that the network’s overall emissions rose 26% over the past six months. Regarding upcoming catalysts, Solana Mobile Stack, an open-source software toolkit for Android that enables native Android Web 3 dApps on Solana, is expected to ship in Q1 2023. If successful, this initiative could help onboard millions of people onto the network.

FTX Token (FTT)

–22%

FTX Token (FTT) traded down 22% over the past month. FTT provides various benefits to users of the FTX crypto exchange. Yesterday, it was announced that trading firm Alameda will repay $200 million in loans to Voyager Digital, the bankrupt crypto lender. If all goes well, Voyager will send Alameda 4,650,000 FTT tokens (around $112 million at current prices), which were used as collateral for the loan. Hence, it should be no surprise to see further selling pressure in the coming weeks.

Aave (AAVE)

-23%

Aave (AAVE) traded down 23% over the past month as the repercussions of the TornadoCash ban were felt across all decentralized finance protocols. Notwithstanding, various exciting developments are occurring in Aave, like ”GHO” – a native, decentralized, and fully-collateralized stablecoin pegged to the US dollar. This past week, we also saw Aave trifle with the untapped derivatives market by revealing ShortAave, which will be a one-stop shop to open short positions on the platform by borrowing from Aave and swapping on Uniswap in one go.

Decentraland (MANA)

-24%

Decentraland (MANA) traded down 24% over the past month. Despite the negative market sentiment, adoption hasn’t slowed down. For instance, crypto bank Sygum will be the first Swiss bank to open a hub on the metaverse on September 27, as it will launch “Decentraland Hub” during a live streaming event on Decentraland. Tacobell is also partnering with Decentraland to offer US couples the chance to have a virtual wedding.

Ethereum (ETH)

-28%

Ethereum traded down 28% over the past month despite a successful Merge, which marked the network’s transition to Proof-of-Stake. Although the Merge is arguably one of the most positive developments in recent years, the overall macro uncertainty has triggered the current valuation retracement (not just in crypto) with the last CPI numbers. Additionally, investors were positioned overly optimistic in anticipation of the Merge, as proved by the millions of dollars in liquidations over the past week.

Uniswap (UNI)

-28%

Uniswap (UNI) traded down 28% over the past month. For quite some time, our thesis has been that Uniswap is the “Trojan Horse” to conquer the market making business, eating up the market share of liquidity provision on centralized exchanges. However, it will certainly have to be battle-tested, especially as new competitors enter the market. On September 13, a consortium of leading broker-dealers, global market makers and venture capital firms announced the launch of EDX Markets (EDXM), a first-of-its-kind exchange that will address latent demand for cryptoasset trading by enabling safe and compliant trading of cryptoassets through trusted intermediaries.

The Sandbox (SAND)

-28%

The Sandbox (SAND) also traded down 28% despite some impressive developments. The Sandbox made headlines this month by bringing the first Singaporean company into its metaverse. Singapore’s largest bank, DBS, is set to acquire land in the gamified metaverse to build new services with its clients. Renault South Korea also partnered with The Sandbox to provide its users with an innovative automobile experience in the virtual world.

Avalanche (AVAX)

-31%

Avalanche’s native token AVAX traded down 31% over the past month, underperforming the broad market. Despite a market capitalization of $5 billion, Avalanche had fewer weekly active developers over the same period than smaller networks such as Cosmos, Near, and Tezos. On a more optimistic note, Avalanche made headlines on September 13 when it was reported that private equity giant KKR would tokenize a portion of its second Health Care Strategic Growth Fund on Avalanche.

Fantom (FTM)

-32%

Fantom’s native token FTM traded down 32% over the past month. As Fantom is a smaller cap Layer 1 network, we should expect it to have a higher beta. Regarding fundamentals, last month, the Fantom Foundation introduced a proposal to reduce staking yield (currently at 13%) to reduce the current inflation rate and keep in line with the market average. In May, Fantom also underwent an upgrade dubbed SnapSync that lowered gas fees and led to faster transaction finality.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.

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Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis

Publicerad

11 timmar sedan

den

1 april, 2025

Redaktionen

Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis
Bitcoin price technical analysis: Where are the liquidation levels?
What are real-world assets and why do we need tokenization?

Michael Saylor’s bold Bitcoin bet and Strategy’s risk analysis

Strategy (formerly MicroStrategy) has amassed a staggering $43 billion in Bitcoin, positioning itself at the forefront of the corporate “reserve race.” Under the leadership of Bitcoin maximalist Michael Saylor, the company now boasts an $84 billion market cap. But with such an aggressive strategy, how sustainable is its approach—and what risks lie ahead? We break it down in today’s analysis.

Bitcoin price technical analysis: Where are the liquidation levels?

A drop below $72,000 could flush longs, while a breakout above $90,000 may squeeze shorts. One key positive indicator is that Bitcoin continues to print higher lows since March 10, which preserves a bullish market structure in our view. Dive into our technical analysis.

What are real-world assets and why do we need tokenization?

Imagine owning a slice of a skyscraper or a piece of fine art with just a few clicks. Tokenization, the act of converting ownership rights to real-world assets (RWAs) into tradable tokens, has surpassed $10 billion in on-chain value, unlocking global 24/7 access to once-exclusive markets with liquidity, efficiency, and yield. Find out how it works.

Research Newsletter

Disclaimer

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BSE0 ETF köper bara företagsobligationer med förfall 2030

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12 timmar sedan

den

1 april, 2025

Redaktionen

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc (BSE0 ETF) med ISIN IE000I25S1V5, försöker följa Bloomberg 2030 Maturity EUR Corporate Bond Screened-index. Bloomberg 2030 Maturity EUR Corporate Bond Screened Index följer företagsobligationer denominerade i EUR. Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller under det angivna året (här: 2030) i indexet. Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade. Löptid: december 2030 (Denna ETF kommer att stängas efteråt).

Den börshandlade fondens TER (total cost ratio) uppgår till 0,10 % p.a. Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc är den billigaste och största ETF som följer Bloomberg 2030 Maturity EUR Corporate Bond Screened index. ETFen replikerar det underliggande indexets prestanda genom samplingsteknik (köper ett urval av de mest relevanta indexbeståndsdelarna). Ränteintäkterna (kupongerna) ackumuleras och återinvesteras.

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc är en mycket liten ETF med tillgångar på 6 miljoner euro under förvaltning. Denna ETF lanserades den 18 juni 2024 och har sin hemvist i Irland.

Produktbeskrivning

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF Acc syftar till att ge den totala avkastningen för Bloomberg 2030 Maturity EUR Corporate Bond Screened Index (”Referensindexet”), minus avgifternas inverkan. Fonden har en fast löptid och kommer att upphöra på Förfallodagen.

Referensindexet är utformat för att återspegla resultatet för EUR-denominerade, investeringsklassade, fast ränta, skattepliktiga skuldebrev emitterade av företagsemittenter. För att vara berättigade till inkludering måste företagsvärdepapper ha minst 300 miljoner euro i nominellt utestående belopp och en effektiv löptid på eller mellan 1 januari 2030 och 31 december 2030.

Värdepapper är uteslutna om emittenter: 1) är inblandade i kontroversiella vapen, handeldvapen, militära kontrakt, oljesand, termiskt kol eller tobak; 2) inte har en kontroversnivå enligt definitionen av Sustainalytics eller har en Sustainalytics-kontroversnivå högre än 4; 3) anses inte följa principerna i FN:s Global Compact; eller 4) kommer från tillväxtmarknader.

Portföljförvaltarna strävar efter att uppnå fondens mål genom att tillämpa en urvalsstrategi, som inkluderar användning av kvantitativ analys, för att välja en andel av värdepapperen från referensindexet som representerar hela indexets egenskaper, med hjälp av faktorer som index- vägd genomsnittlig varaktighet, industrisektorer, landvikter och kreditkvalitet. När en företagsobligation som innehas av fonden når förfallodag kommer kontanterna som fonden tar emot att användas för att investera i kortfristiga EUR-denominerade skulder.

ETFen förvaltas passivt.

En investering i denna fond är ett förvärv av andelar i en passivt förvaltad indexföljande fond snarare än i de underliggande tillgångarna som ägs av fonden.

”Förfallodag”: andra onsdagen i december 2026 eller sådant annat datum som bestäms av styrelseledamöterna och meddelas aktieägaren

Handla BSE0 ETF

Invesco BulletShares 2030 EUR Corporate Bond UCITS ETF EUR Acc (BSE0 ETF) är en europeisk börshandlad fond. Denna fond handlas på flera olika börser, till exempel Deutsche Boerse Xetra.

Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.

Börsnoteringar

Börs	Valuta	Kortnamn
XETRA	EUR	BSE0

Största innehav

Namn	CUSIP	ISIN	Kupongränta	Vikt %
Fresenius SE & Co KGaA 5.125% 05/10/30	D2R9K1AL3	XS2698713695	5.125	2.55%
Mercedes-Benz Group AG 2.375% 22/05/30	D1668RZW0	DE000A289XG8	2.375	2.19%
Akzo Nobel NV 1.625% 14/04/30	N01803YV6	XS2156598281	1.625	2.08%
Eni SpA 0.625% 23/01/30	T3666JJV9	XS2107315470	0.625	1.98%
Prologis International Funding II 2.375% 14/11/30	L7763MAD2	XS1904690341	2.375	1.78%
REWE International Finance BV 4.875% 13/09/30	N74119AA1	XS2679898184	4.875	1.65%
CaixaBank SA 4.25% 06/09/30	E2R193R97	XS2676814499	4.250	1.64%
Verizon Communications Inc 4.25% 31/10/30	—	XS2550881143	4.250	1.64%
Liberty Mutual Group Inc 4.625% 02/12/30	U52932BR7	XS2561647368	4.625	1.62%
AXA SA 3.75% 12/10/30	F0609NBG2	XS2537251170	3.750	1.60%

Innehav kan komma att förändras

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US regulatory shift provides a beacon for optimism

Publicerad

13 timmar sedan

den

1 april, 2025

Redaktionen

Since President Trump appointed Mark Uyeda as acting SEC chair two months ago, many investigations into crypto businesses have been dropped, as the SEC moves away from regulation by enforcement and works to create a framework for digital assets. As regulations become clearer and news flow turns more positive, crypto prices—which dropped sharply this week—should begin to better reflect the new regulatory landscape in the US.

We believe this regulatory shift could ultimately help trigger the next leg of the current bull run, as investors better understand the significance of regulatory clarity and seek to acquire bitcoin and altcoins at what we believe are currently very favorable levels.

Market Highlights

SEC Dismisses Crypto Enforcement Actions

The SEC dropped its enforcement actions against crypto-related companies Kraken, Consensys, and Cumberland DRW.

This indicates a shift in SEC’s regulatory approach, favoring clearer guidelines over enforcement actions. Such a pivot could foster a more predictable environment, encouraging innovation within the sector.

Banks to Engage in Crypto Activities

The FDIC has rescinded previous guidelines which prevented financial institutions from engaging with crypto activities without prior sign-off.

By removing bureaucratic hurdles, banks may more readily offer crypto-related services, potentially leading to broader adoption and integration of digital assets.

Bitcoin ETFs Inflow Streak Surpassed $1 Billion

US spot Bitcoin ETFs have recorded a 10-day inflow streak exceeding $1 billion marking the longest such streak in 2025.

This underscores growing institutional and retail investor confidence in Bitcoin as an asset class that helps increase market stability and possibly paving the way for the approval of other crypto-based financial products.

Market Metrics

All NCITM constituents had negative performance last week, with XRP (-10.8%) and UNI (-10.7%) seeing the steepest declines. ETH also experienced a sharp drop (-9.1%), contributing to NCITM’s underperformance relative to BTC (-2.9%). The NCITM -4.2% decline reflects a broader risk-off sentiment in the crypto market, as investors reassess their positions amid ongoing macroeconomic uncertainties.

NCITM (-4.2%) extended its underperformance last week, deepening year-to-date losses. Traditional indices like the S&P 500 (-1.5%) and Nasdaq 100 (-2.4%) saw smaller declines. The gap between crypto and other risk assets continues to widen, while gold has emerged as the top performer in 2025, gaining nearly 20% amid ongoing macroeconomic uncertainties. This trend highlights a growing risk-off sentiment, with investors shifting toward defensive assets and away from high-volatility investments.