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Over the past 7 days, the FS CryptoFX Agg Index increased by 4.0%, compared with a 3.0% increase for the S&P 500 (Slide 6). After a week of testing its 50-day moving average, Bitcoin finally climbed above it on Thursday morning and finished the week 3.1% higher.

Sector Rotation
Primarily because of Bitcoin's "laggardship", FS CryptoFX Commodity index trailed all other non-stablecoin sector-based indices last week. The leadership of FS CryptoFX Platform and Privacy indices persist, as these indices outperformed Bitcoin by 6.8% over the past week. Ethereum and Zcash were the biggest contributors of each index, up 10% and 24%, respectively, relative to Bitcoin. FS CryptoFX Exchange index reversed back and outperformed Bitcoin by 4.3% for the week.

Due to the excellent performances of the mid-cap platform and privacy tokens, FS CryptoFX Mid-cap 40 was the best performing size-based index. FS CryptoFX Small-cap 250 was the worst-performing size-based index, trailing Bitcoin by 0.2% last week.

PBoC Confirms trials of Central Bank Digital CurrencyChina’s Central Bank (“the PBoC”), confirmed last week that it is indeed piloting Central Bank Digital Currency (“CBDC”) technology. While this is not such a big surprise (the PBoC has been researching digital ...

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