Hello All,
As i wrote on my last post, i created a cryptocurrency invesment fund, and i plan to post weekly reports about as a way to learn more, and measure it's performance.
Since this is the first report, (The fund is already 20 days old), i will be talking about the composition and the targets i am looking for.
Here is how the fund is performing so far:
Now let's talk a bit about it.
Strategy
The basic strategy of this fund is to invest in 10 Altcoins that have the biggest growth potential for the Next 3 months.
Although the profit target is aimed at three months, every month i will be reevaluting the composition, removing/adding cryptocurrencies as the market changes.
The way i choose wich coins will be part of the fund is a mix of fundamentals, technical analysis and market sentiment.
Composition
Here is the composition of wich cryptocurrencies are part of the fund, with a short description about them:
Zcash (ZEC) - 39%
"Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions using advanced cryptography."(source)
Zcash latest News
- Cardano, Tezos, BNB, and ZCash are the most traded cryptocurrencies on eToro
- This crypto forensic firm will now trace Zcash transactions, notes Dash privacy is akin to Bitcoin
- How to Remain Profitable Through the Halving of Zcash
Compound (COMP) - 21%
"Compound (COMP) is an ERC-20 asset that powers the community governance of the Compound protocol; COMP token-holders and their delegates debate, propose, and vote on changes to the protocol.
By placing COMP directly into the hands of users and applications, an increasingly large ecosystem will be able to upgrade the protocol, and will be incentivized to collectively steward the protocol into the future with good governance." (source)
Compound latest News
- Declining Compound yields may be fueling COMP’s intense downtrend
- Huobi Launches Global DeFi Alliance With Compound, dYdX, Nest & MakerDAO as Founding Members
- COMP Price Analysis: Upside Bias Gains Traction on COMP/USD to $270 As Compound Token Surge Highlights DeFi Growth
Crypto.com(MCO) - 8%
"Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of ”cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 200+ strong team. For more information, please visit www.crypto.com." (source)
Crypto.com latest news
- MCO jumps 36% as Crypto.com’s swap program goes live
- Controversy Trails Crypto.com MCO Swap Plans, Investors in an Uproar
- Crypto.com Dumps MCO, Launches MCO/CRO Swap Program as MCO Spikes 38%
Aave (LEND) - 7%
Aave is an open source and non-custodial protocol enabling the creation of money markets. Users can earn interest on deposits and borrow assets. (source)
Aave Latest News
- Aave introduces new upgrade proposal, plans to migrate LEND to AAVE in 100:1 tokenswap
- Aave and Curve DeFi Protocols Both Surpass $1 Billion in Total Value Locked
- Money Market Protocol Aave Announces V2 Features, LEND Now Up Over 4200% in 2020
Band Protocol (BAND) - 7%
Band Protocol offers a decentralized data oracle by making data readily available to be queried on-chain, using delegated proof of stake (“dPoS”) to ensure data integrity. It aims to be the go-to data infrastructure layer for Web 3.0 applications by providing decentralized, curated off-chain data to smart contracts through oracles managed by its dPoS consensus mechanism. (source)
Band Protocol latest news
- Here’s what on-chain data is saying about Band Protocol’s 30% decline
- Sequoia-Backed Band Protocol Token Starts Trading on Coinbase
- CoinMarketCap Launches Earn Program, Rewards Starting with BAND
Chromia (CHR) - 5%
Chromia (by ChromaWay) is a new blockchain platform for decentralized applications, conceived in response to the shortcomings of existing platforms and designed to enable a new generation of dapps to scale beyond what is currently possible. Chromia is both a blockchain and a relational database. This means that decentralized applications (dapps) can be written in a way that is familiar to developers all over the world, whether they work on large enterprise applications, games, or smaller projects.
Chromia latest news
THETA (THETA) - 4%
Theta is a decentralized video delivery network, powered by users and an innovative new blockchain. Theta is an open source protocol purpose-built to power the decentralized streaming network and will allow for vertical decentralized apps (DApps) to be built on top of the platform to enable esports, music, TV/movies, education, enterprise conferencing, peer-to-peer streaming, and more.
THETA latest news
- Top 3 Crypto Gainers on August 11th – Theta, XTZ, And MIOTA. Is it Worth Investing?
- Korea’s Ludena Joins Forces with Theta (THETA) for Ecosystem Expansion
ICON (ICX) - 3%
ICON is an interconnecting blockchain network. ICON can connect independent blockchains without the use of additional third-party intermediaries. Various blockchains can communicate with each other through the ICON platform. By connecting siloed blockchains, ICON aims to become the largest blockchain in existence.(source)
ICON latest news
- Top 3 Coins to Watch August 3 - August 8, 2020
- South Korean ICON Boards the DeFi Train with DAO Platform
KAVA (KAVA) - 3%
Kava describes itself as a cross-chain Defi platform for cryptoassets. (source)
KAVA latest news
- Binance-Backed Swipe Partners with Kava to Foster USDX DeFi Ecosystem
- Kava Labs Partners with BNB48 Club to Raise BNB DeFi Awareness
ANKR (ANKR) - 2%
Ankr strives to build a resource efficient blockchain framework that truly enables Distributed Cloud Computing (DCC) and provides user-friendly infrastructure for business applications. Ankr Network proposes a novel blockchain solution that addresses the current barrier to mass business adoption: (1) Resource-efficient mining scheme based on Proof of Useful Work (2) Scalable Blockchain framework through Plasma sidechains and sharding (3) Native oracle service connecting real-world data of existing Internet solutions to on-chain entities (source)
ANKR latest news
Genesis Vision Token (GVT) - 1%
A platform for the private trust management market, built on blockchain technology and smart contracts. They unite exchanges, brokers, traders, and investors into a decentralized, open and fair network, making the financial market even more global. (source)
Genesis Vision latest news
Target
For the first month, my profitability target will be 48.11%
Every month, at the moment i rebalance the assets, i will set a new target for the fund.
Conclusion
That's all for now. Once a week i will make an update of the fund performance.
If you get interested in joining, you can join with only 5 USD.
Besides that, i would love to hear your opinions about the fund composition, or any suggestions what cryptos i should look at for the next period.
Thank you all.