Invictus Capital: Weekly Wrap 07.05
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The market’s intense focus on the path for future inflation was on full display this week. A Tuesday comment from US Treasury Secretary, Janet Yellen, that outlined the potential for the massive fiscal stimulus unleashed over the last year (and that is expected to continue) to force the Fed’s hand on interest rates in response to inflationary pressures. This relatively benign statement caused panic in global financial markets, with equities around the world undergoing a sharp sell-off. Later in the day, Yellen clarified her statements and claimed that she doesn’t expect an inflationary problem to materialise, which was taken as an excuse for equities to rebound.
The market’s concerns were again highlighted Friday with the release of US employment numbers that significantly missed estimates to the downside driving an epic surge in stock markets. This effect, which at first seems counterintuitive, can be explained by the fact that it diminishes the likelihood that rate hikes would come early to spoil the record-breaking stock market rally. This was evidenced by cratering US bond yields, with the dollar also weakening under poorer US growth prospects. Global stock indices are looking to end the week roughly flat, with the tech-heavy Nasdaq down. Gold was also one of the week’s biggest winners, as lower bond yields helped support valuations.
Ethereum continued to lead the market as prices surged to new highs of over $3,600. Bitcoin was quiet by comparison, finding strong support midweek before closing below key resistance at $60,000. C20 and C10 both continued to outperform the market leader, posting double-digit gains of 24% and 16%, respectively. On Wednesday, Grayscale announced a partnership with the New York Giants, which should bring mainstream attention towards the world’s largest digital currency asset manager. Also in New York, the NYDIG appointed John Dalby as CFO, a position he also holds for the world’s largest hedge fund, Bridgewater Associates. Adding to yet another positive week for institutional newsflow, Citi bank’s head of foreign exchange told FT that they have seen a rapid uptick in Bitcoin interest from large clients. He added that he “doesn’t have any FOMO” and that “crypto is here to stay.”
Indicators (30 April — 07 May)
- Invictus Margin Lending (IML): $1.24, +18.92% (weekly compound annualized rate)
- Invictus Gold Plus (IGP): $1.12, +2.44%
- Emerging Markets Solar (EMS): $1.26, +0.35%
- Crypto10 Hedged (C10): $8.22, +16.02%
- Crypto20 (C20): $5.63, +23.99%
- Invictus Bitcoin Alpha (IBA): $2.73, +3.69%
- Invictus Hyperion Fund (IHF): $0.248 (Updated Q1–21)
- BTC: $56,506.84, +5.38%
- ETH: $3,494.13, +26.61%
- GOLD: $1,814.88, +2.60%
- S&P500: 4,201.62, -0.23%
Extension of Uniswap liquidity progam
The Uniswap liquidity program has recently been extended by another 3 months to now end mid-September 2021. APYs in the region of 20% are available to ICAP-ETH and C20-ETH Uniswap liquidity providers.
Find a step-by-step guide for adding liquidity and participating here!
Zero fees on swapping between Invictus funds this month
The OTC desk is waiving all fees for swaps between Invictus funds this month.
This is a great opportunity for investors to diversify their Invictus portfolio to protect capital gains — considerations should especially be given to C10 and IML.
Find out how it works here.
Binance Smart Chain $10,000 giveaway
We are welcoming new and current investors to take part in our exciting competition which celebrates the newly launched Binance Smart Chain (BSC) feature. You are automatically entered into the competition by using BSC as an investment method. Ten lucky investors will be randomly selected to win their share of an incredible $10,000!
Please note that the Invictus Wallet does not support any Binance Chain assets at this time, you can only send BUSDT/BUSD to your unique deposit addresses accessed via the crypto transfer investment method. Binance Chain tokens sent to your Invictus Wallet may be lost.
- The competition is open to new and existing investors
- Invest $100 USD or more into one of the Invictus Capital funds
- Investments must be made using the Binance Smart Chain (BSC)
- Investments must be made via our platform during the period of the competition, not via exchanges, and must be held until the end of the competition
- The competition starts 28th April 2021 at 23:59 UTC and closes on 31st May 2021 at 23:59 UTC
- Every different fund you invest in counts as 1 entry. Maximum of 6 entries per person
- Invictus reserves the right to amend the competition rules at any time without prior notice.
Other News & Links
- Invictus in the Press/News
1. Invictus Capital AUM reaches $112M as crypto adoption booms [Cointelegraph]
2. Jason Pizzino Interview with CEO Daniel Schwartzkopff
3. This week the C20 fund reached an impressive milestone of $100m in AUM!
4. Crypto20 Shows Relentless Growth, Breakneck Pace Of Bitcoin
- NYDIG announces appointment of John Dalby as Chief Financial Officer
- Citi bank is considering launching crypto trading and custody services
- Syntropy News
1. Syntropy continues to achieve impressive milestones. Join them for exciting events, launches, surprises and more on their ongoing 60 Days of Growth. Follow them on Twitter for updates!
2. Syntropy CS:GO Tournament: Powered by DatHost
3. Syntropy in April: Tokenomics & Staking, Alliance, VPN and more
4. You can still register for Syntropy’s Hackathon competitions. Find out more here!
- Yellen says she isn’t predicting higher interest rates
- April’s expected hiring boom goes bust as nonfarm payroll gain falls well short of estimates
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