Invictus Capital: Weekly Wrap 10.12
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Market News
Traditional markets had a relatively quiet week in the leadup to today’s US inflation data. Up to Friday, equities spent the week rebounding, with bonds losing out — largely reversing last Friday’s pivot to safe havens; gold and the dollar held relatively steady. Sentiment may have been helped by encouraging data that suggests Omicron may be less deadly than prior variants, despite it seeming the variant is around 300% more transmissible.
Unfortunately, the crypto market struggled to rebound as firmly as equities and Bitcoin spent the week consolidating above $47,000 after last weekend’s cascading liquidation event that caused a near 20% sell-off. Most altcoins were hit even harder over the week, with the notable exception of Ethereum, and for our investors the C10 and IBA funds, which have both registered significantly better performance than their benchmarks over the period.
Friday’s just-released inflation reading of 6.8% — deemed to be within expectations — has seen market fears of imminent rate hikes tempered, and has for now brought another jolt of positive sentiment and $50k for Bitcoin alongside a steepening US yield curve and weakening dollar.
Wednesday also saw the anticipated US Congressional hearing on stablecoin regulation. The hearing featured representatives from important ecosystem participants, including Coinbase, FTX, Paxos, and Circle. The participants largely agreed that more clear, and perhaps stringent crypto regulation is needed, but cautioned against a heavy handed approach that would stifle innovation; a stance that seemed to invoke bipartisan support.
Against this backdrop, WhatsApp is testing a new feature for sending cryptocurrency via in-app messages powered by the Novi wallet. The popular messaging platform launched a new pilot program on the 9th of December, available to a “limited number” of people in the US. Users will be able to make fee-free payments using Pax Dollars (USDP). This is a very positive development towards broader adoption of crypto payment solutions in our everyday lives.
Indicators (03 December — 10 December)
- Invictus Margin Lending (IML): $1.30, +4.72% (weekly compound annualized rate)
- Crypto10 Hedged (C10): $8.42, -7.67%
- Crypto20 (C20): $4.47, -16.97%
- Invictus Bitcoin Alpha (IBA): $2.55, -11.31%
- Invictus Hyperion Fund (IHF): $0.463 (Updated Q3–21)
- Invictus Capital Token (ICAP): $9.48, -1.58%
- BTC: $47,576.25, -15.73%
- ETH: $4,106.06, -8.96%
- GOLD: $1,776.14, +0.39%
- S&P500: 4,667.45, +1.97%
Invictus Incubations: Invictus Makes Foray Into Fast-growing NFT Space
Invictus is proud to announce involvement in two new NFT projects: The Invictus NFT Lab — Out Of Africa Collection and the incubation of Air Guitar Academy. Check out the Litepaper.
Read more in the post here.
Invictus Yield Vault
Invictus Capital is thrilled to announce the public launch of the Invictus Yield Vault. The Yield Vault allows qualifying lenders the opportunity to lend a minimum amount of $25,000 BTC, ETH and/or Stablecoins for highly competitive interest rates to Invictus Alpha, Invictus Capital’s trading division.
The Vault is now seamlessly integrated into the investor portal on the Invictus Capital website! Prospective crypto lenders now have a single web location to effortlessly view Yield Vault information, crypto lending interest rates, FAQ information, and contact our Yield Vault Team.
To view our rates and contact our Vault team, please visit our landing page.
Borrow Against Your Crypto With Peace of Mind
Crypto users can now borrow against their crypto secure in the knowledge that their investment will not get liquidated.
Invictus Alpha (the trading company of Invictus Capital) has engineered a new product that is offering users the opportunity to borrow USD-based stablecoins (or BTC and ETH) against BTC and ETH with no risk of liquidation.
Check out the articles here and here. To inquire, please complete this form.
Schedule a call with the Invictus Sales Team
Schedule a call with Tom or Ivor from our Fund Sales team if you have any questions or need assistance with your Invictus investment(s).
Alternatively you can call us on +1 (345) 769–7491 between 7:00–16:00 GMT.
Other News & Links
- Invictus in the Press/News
1. Invictus Blog: Large institutions are changing tact, anti to pro crypto
2. Maximize risk adjusted returns with IML
3. The Out of Africa Collection: Combining the best of Fine Art and NFT Tech - WhatsApp launches cryptocurrency payments pilot in the US
- Why cognitive biases matter in investing and how to overcome them
- Syntropy News
1. Release Notes: December 6th, 2021 - Key takeaways from crypto CEOs’ Trip to Capitol Hill
- SolStreet News
1. November Roundup - Preliminary data suggest omicron is more transmissible, causes milder cases than delta, WHO says
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