Ragnarok Crypto Q2 2020 Summary
Dear Valued Investors and Friends,
With the end of Q2, we have now officially survived the first half of a truly memorable year. With that in mind we are excited to share our perception on market behavior during pandemic, and other economic anomalies affecting the market performance, event correlations, and much more.
Perhaps the most notable figure of Q2 is the overall increase of market capitalization, which has grown by a truly significant ~44%. We have also witnessed the third Bitcoin halving event (May 11th) and while there was a lot of speculation as to how it will affect the price of Bitcoin, the price change wasn’t all that significant and experienced an increase of 5%. This event was followed by a decrease in hash rate, which means a portion of miners stopped mining as they were no longer profitable. Interestingly, the hash rate has since picked up to pre-halving levels.
Ethereum has seen a steady increase in active users caused by the adoption and wide-spread interest of DeFi applications. According to an article from decrypt.co, 97% of activity on the Ethereum blockchain can be linked to decentralized finance applications. This is only expected to grow. The notable projects we closely monitor in this space are Compound, Kyber Network, Republic Network, and Synthetix Network Token. All of which have experienced a rapid increase in market capitalizations over the last couple of months.
The performance of Ragnarok has followed the one of Bitcoin. Ragnarok closed Q2 with a 40% increase in value, compared to Bitcoin’s 45%. Our positions have not changed significantly, and as we have made clear during our latest article (available here) we are currently allocated about 70:30 among stable coins and our black horses, following the circumstances markets are in and data from previous periods. We aim to restructure, get more diverse and risk tolerant as the situation develops and we find comfortable entries with each project we plan to include in our portfolio.
Internally at Ragnarok Crypto, we have been finalizing the back end of new service offerings such as building customized crypto-asset portfolios, following the demand from adversely risk tolerant clients. We will be happy to take 1-on-1 calls as early as Q3.
This change will be followed by structural changes on our website, which you can visit by following this link: http://ragnarokcrypto.com
