Solidum Prime (SOPR) Monthly Report for June 2018
KEY HIGHLIGHTS
- Performance in June: -35.56%
- Performance in the last three months: -19.45%
- Performance in the last six months: -70.58%
- Performance since inception: -5.94%
- Assets Under Management: $946,961
- Portfolio holds 25 equal weighted digital asset
MARKET COMMENTARY
The crypto market continued its bearish sentiment in June, with a loss of 23.95% of the total market capitalization. Bitcoin and Ether were no exceptions. Over the course of the last month, BTC price decreased by 14.54%, which is a substantially smaller drop than the one ETH experienced; -21.14% in June.
Below is a list of the top three monthly gainers and losers from the top 25 market movers:
PORTFOLIO CHANGES
We did not make any changes to the portfolio in June. Therefore, Solidum Prime DAA maintains a portfolio of 25 equal weighted digital assets.
PORTFOLIO REBALANCING
Asset allocations in the portfolio remained relatively stable during the last month. This means that there was no cause to execute a rebalance that would contribute to the overall performance of the portfolio in June.
PERFORMANCE REVIEW
Below is a graph comparing Solidum Prime and market benchmark performance for June 2018.
As mentioned before, the market continued its downtrend in June, and Solidum Prime followed the pattern. SOPR performance in June was -35.56% and our benchmark, which represents the top 20 cryptocurrencies by market cap have dropped by 20.82%. While the overall sentiment of the crypto market seems negative, there was major positive news that came out especially in the last week of June. They might have contributed to the small recovery on the last day of the month.
Two examples of big shifts are Facebook and South Korea. Facebook banned crypto-related ads on their platform in January, only to suddenly change their views and now allow cryptocurrencies to be advertised. Many also believe that this move can encourage the industry to follow their example and lift advertising bans from other social media services.
South Korea also held a negative stance towards cryptocurrencies and ICOs in the beginning. In 2017, the government banned ICOs completely, but this year brought an important shift. South Korea is now following the same vision as many blockchain-friendly countries such as Malta or Zug (aka “Crypto Valley”) in Switzerland. They are reshaping their stance on crypto and cooperating with other countries to become a blockchain haven.
CONCLUSION
While the market continued its downtrend in June, we do believe, especially given the positive news that was published at the end of the month, that a correction is bound to happen in the next weeks.
Major players are changing their views and starting to welcome blockchain. Furthermore, we think that once the market will rebound, large corporations will also invest their capital in cryptocurrencies. That capital is substantially larger than that of an individual investor — we believe the next bull run will be made by corporations and will surpass the bull run of December of 2017.
Solidum Capital offers easy and proven cryptocurrency investment solutions for both, beginners and experienced investors.
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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.
