Singularity Fund — Weekly report #24
Weekly report from November 7 to November 14
Net Asset Value and Performance of the fund
NAV on November 14= $17.56
Performance from November 7 to November 14= 7.13%
Performance from May 31 to November 14= 185.73%
What a week! A lot of things happened, even by crypto standard. On November 8, the Segwit2X was cancelled. There was consequently a rapid transfer of funds from Bitcoin to other cryptoassets. ETH (Ether) went from $291 to $327 in 48 hours and most of crypto assets were rising. Then, in a surprising move, BCH (Bitcoin Cash) began surging on November 9 and went from $660 to almost $2500 in less than three days, which corresponds to more than $30 billions of market capitalisation created in this time frame. The trading volume of BCH during the last 24 hours of this surge was over $9 bilions. All other crypto assets (Bitcoin included) were severely affected, as there was a massive selling of all crypto assets to buy BCH. Then, in a few hours, BCH price collapsed 50% to end at the current level of around $1200.
Thanks to the end of the fork episode and to the end of the crazy BCH moment, we are now back to a more typical crypto market, with a regular increase of the market as a whole, Bitcoin and others in the same direction. The configuration we described in last week report ( Bitcoin rising and all other cryptoassets suffering from this rise) seems to be over.
Fund Composition on November 14
BTC 17.66%
ETH 21.85%
IOT 4.23%
NEO 8.64%
XMR 2.37%
LINK 7.32%
OMG 7.52%
ZRX 11.91%
CND 2.79%
XRL 3.40%
SAN 1.05%
NMR 2.26%
CVC 3.36%
ENJ 2.30%
Dmarket 1.46%
SNM 0.63%
BNT 0.27%
TKN 0.94%
New tokens and coins added to the fund
XMR (Monero): Monero is the top cryptocurrency in the regard of privacy and security. It was designed to be untraceable by default which means that there is no way to identify the addresses of origin and destination by analyzing a Monero transaction on the blockchain. We believe that privacy-oriented cryptocurrencies will gain traction and Monero is very well placed to be the leader of this segment. Here is a sample of the official website:
Private Digital Currency
Monero is a secure, private, and untraceable cryptocurrency. It is open-source and accessible to all. With Monero, you are your own bank. Only you control and are responsible for your funds. Your accounts and transactions are kept private from prying eyes.
Singularity Fund links
Website: http://singularityfund.io/
Blog: https://medium.com/singularity-fund
Telegram: https://t.me/SingularityFund
NAV (Net Asset Value): https://docs.google.com/spreadsheets/d/1iHqMjI1UfbzYePLZARHCfWcKoXRpZgW938OIHmcG-Kg
We also recommend reading our Performance Analysis report, where we compare the performance of the Singularity Fund to the performance of three benchmarks: Bitcoin, Ether, and CRIX (crypto index).
