Blockchain Growth Index

🚨 Market turmoil because of the shut down of Silicon Valley Bank (SVB) 🚨

The regulator shut down SVB yesterday which caused sell offs in risky assets even in traditional financial markets and Crypto markets were down too 📉

Is it the first domino that falls and causes something bigger and worse? 🧐 Could be but must not… 🤓 it is very difficult to predict but risks are elevated!

What is most concerning is the depeg that can be observed from the stablecoin $USDC, which is currently trading roughly @0.88 🚨 Circle confirmed that they hold more than 3 billion of their reserve at SVB 😒

As always in such circumstances we play it safe and have reacted to it…

We reduce market risk & exposure and have therefore increased our USD position to 1/3 of the portfolio (up from 10%) ✅

Additionally, we hold our USD position now in $USDT and have sold the entire $USDC position ✅

We have recently rebalanced our strategy in response to the upward move in the cryptocurrency markets. However, despite this positive trend, we are remaining cautious and maintaining our current portfolio due to potential macroeconomic headwinds.

It is important to continue monitoring market conditions and making adjustments as necessary to ensure the success of our investments.

Yesterday, we sold our holdings in $SOL… 😅 We expect further down trend in price because of the fact that FTX was a huge supporter of it and that they have massive holdings of it. 📉

We believe that there is an asymmetric risk / reward situation and we prefer the safer path which meant selling it all. ✅

After another massive downturn we bought another 5% and added to $BTC $ETH and a few other alt coins. ✅

Long term interest rates have probably peaked and will come down in the next months and years which will help riskier assets.

Sentiment is also very pessimistic and we try to act contrarian to the mass of investors… 😎

The way back up is still very, very long and will be volatile… But patience and sticking to the long term strategy is key ✅📈🚀

We sold our 2% holding in $FTT today after the news that Binance takes over FTX because of liquidity issues and problems. ✅

The market is massively down 📉 and we bought into it by adding $BTC and $ETH. For the moment we feel more comfortable with the big names.

We believe that bottom is not that far away any more with markets down more than 70% from their highs. Macro is still a headwind and we still hold 15% in USD. Willing to buy back more in the future… ✅