Crypto Briefing’s CB10 index surpasses BTC in Q1

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Key takeaways The sixth rebalancing of the CB10 Crypto Briefings was completed at 10:00 a.m. EST on July 1. Bitcoin was the only cryptocurrency to see a positive allocation during this month-long rebalance. Solana replaced Polygon in the top ten. Share this article

The semi-annual gains of the Crypto Briefing CB10 index have outperformed Bitcoin despite the negative market trend over the past two months.

Performance of CB10 in the crypto market

Crypto Briefing’s experimental index of top ten cryptocurrencies by market cap closed in the red for a second consecutive month. The index’s six-month gain is 27.7%, which is 2.7 times that of Bitcoin.

BTC has only lost 10% so far since the inception of the CB10 index in January. Ethereum’s gains continue to overtake Bitcoin and CB10 at 102.2%.

The CB10 crypto market index implements the S&P 500 strategy of investing in the top 500 stocks based on the percentage weight distribution by market capitalization. It is made up of the top ten tokens by market cap (according to CoinGecko) that are available to be traded on the US stock exchanges. The index is rebalanced monthly.

At the end of June, profits from a $ 1,000 CB10 portfolio invested earlier this year were $ 277, up from $ 489 last month.

Source: Cryptography Briefing

With a total percentage share of 84.5%, Bitcoin and Ethereum were the top performers on the index last month. Chainlink and Polygon were the biggest losers, with a drop of over 40%. The net loss in June was 14.2%.

Rebalancing for the second half of 2021

The rebalancing in July resulted in some reshuffling between the percentage weights of existing cryptocurrencies. The number of cryptocurrencies with less than 1% allocation has increased from one to five since last month. Ethereum’s share saw the biggest drop of all at -1.56%. Together, Bitcoin and Ethereum now control 86.57%.

Apart from that, Solana replaced Polygon, ranking ninth on the index with a 0.9% share.

Dogecoin’s price has not recovered despite Elon Musk’s positive engagement. DOGE dropped a spot from third to fourth in this month’s redistribution. Cardano is now the third largest cryptocurrency on the index.

Source: Cryptography Briefing

The market capitalization of CB10’s last five tokens is in a narrow range of around $ 7.5 billion to $ 9.5 billion. These cryptocurrencies (Bitcoin Cash, Uniswap, Litecoin, Solana and Chainlink) could experience several ranking changes during this month. In addition, a portfolio balanced between these assets offers a better risk / return ratio than investing in just one.

Crypto Briefing readers who copy CB10 can choose to realize their semi-annual earnings and reinvest the initial amount for the next semester. The process of rebalancing and compounding options is outlined in the first distribution schedule after launch in January.

Visible market trends

One of the clearest trends in June was the growing dominance of Bitcoin. Last month, the price of Bitcoin fell 10%, while the price of all other cryptocurrencies in the index fell between 20% and 50%. This influx of small-cap tokens into Bitcoin is characteristic of a downtrend as investors seek refuge in a comparatively less volatile asset.

While Ethereum has enjoyed higher gains than Bitcoin since the start of the year, its weight percentage in the index has fallen 1.5%, after a negative month. The ETH: BTC ratio fell 4% in June. ETH struggled to break through resistance at 0.065 BTC, with support at 0.055 BTC.

Source: TradingView

In the DeFi spectrum, the total liquidity of the pool and the price of governance tokens continue to feel the pressure of the market.

The price of Bitcoin rose to $ 40,000, and Ethereum broke above $ 2,800 for a short time during the first half of the month. However, the market continued to face hurdles, especially from global regulatory oversight. The effects of China’s severe crackdown were visible across the market with a nearly 50% hashrate drop in Bitcoin’s mining network. The world’s largest crypto exchange, Binance, is also facing regulatory challenges in several countries.

Positive adoption of these blockchain projects seems to be the only way out of this downtrend.

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