Digital Assets Weekly: August 5th
Market Analysis
After last week’s spike, BTC continued its rise nearing $12,000 before a $1 billion liquidation event caused the price to crash $1,500 and then stabilize above $11,000. BTC finished the 7-day period ending August 3rd up 1.7%.
As the dollar suffered this week (measured by the DXY), Bitcoin and gold continued their outperformance compared to all other asset classes.
Ripple and Ethereum both surged this week up 37% and 19%, respectively. Ripple disclosed they purchased an undisclosed amount of XRP in Q2 and also sold $32.55 million worth of XRP tokens in the OTC market, mostly to institutional buyers.
Following BTC’s last week lead, all of the FS Crypto FX indices had positive performance this week with the small-caps (FS Crypto FX 250) achieving the greatest gain of +9.1%.
The table below shows the returns of the largest assets and the FS Size Indexes over the year.
Fundamental Valuations
Week over week, Bitcoin’s P/CMR valuation increased slightly 1.3% from 10.8x to 11.0x.
Bitcoin’s market cap to realized value (MV/RV) multiple remained flat at 1.9x.
The comp table for major crypto asset prices and fundamental valuations is shown below.
Valuation Methodology
The P/CMR ratio is a fundamenta...Reports you may have missed
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