Resources

Crypto_Monitor_Website_Thumbnail_5f0ef43b4f.png
Powered by 21Shares This Week in Crypto The state of the weakening dollar gave a glimmer of hope for a relief rally, conservatively lifting both equities and crypto. Within the cryptoverse, large caps remained steadier than previous weeks as Bitcoin was seen ranging between the $28K-$31K, meanwhile Ethereum wicked down to the yearly low major support level at $1700 only to rebound, sweep the $2100 resistance level and continue oscillating within this range. The total crypto market cap gained roughly 6% following the turbulent week that saw the collapse of the Luna token and its counterpart UST stablecoin. Now, even though the valuations of some of the market's blue chips has returned to levels not seen since late 2020, it still seems that further drawdown could be on the table. Reason being is that entities with less than 10 BTC in their portfolio managed to add the 2nd highest amount to their stack on the 20th of May, as seen below. A signal that illustrates that we may not be out of the woods yet since retail hasn't been able to aptly time local bottoms on a historical basis. Supply Held by Retail ...
monitor-default-image.png
This week's highlights Aussie resources sector ETFs were the top performers last week, with all three ETFs tracking this sector – MVR, QRE, OZR – making it into the top 10. The rebounding iron ore price as China seemed set to end its lockdowns supported Australian mining companies. It has been a great year for miners, with MVR, QRE, OZR all in the top 10 performers year-to-date. The top performing funds for the year are now SNAS and BBUS, which use short selling to bet against the US share market. These ASX-listed funds provide an alternative to put options for investors looking to profit from a falling US market. However they remain strong underperformers longer term. Crypto ETFs were the standout laggards for the week. BetaShares’ CRYP – the worst performing ETF in 2022 – made another appearance in the weekly bottom 10. It was joined by our own ethereum and bitcoin ETFs (EBTC, EETH). The crypto industry remains shaken and stirred by the Terra/Luna implosion. The industry recorded $501 million in weekly inflows. iShares IOZ made up almost half of that with its $205 million inflow. A weekly inflow this large may owe to an institutional buyer. ...
Crypto_Monitor_Website_Thumbnail_5f0ef43b4f.png