Invictus Capital: Weekly Wrap 18.03

5 min readMar 19, 2022

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Market News

This week Bitcoin took investors on a roller coaster ride of note. Initially dipping down to a weekly low of $37,500, slowly building back up to $39,500 and then in the space of an hour rocketing up to $41,800 and straight back down to $39,000. The flagship cryptoasset seems to have finally settled on holding on to the $40,000 range towards the end of the week. There is a growing consensus that the multi-month price consolidation is coming to an end and an imminent breakout in either direction is seeming more and more likely. Unfolding geopolitical and macroeconomic developments — which drove all markets this week — will be key for the direction.

Crypto wasn’t the only strong performer, with equities around the globe rebounding firmly on the back of multiple factors. First, signs (and hopes) that the war in Ukraine could soon be peacefully resolved (Putin’s most recent comments dent these hopes somewhat). Second, a U-turn from Chinese policymakers who have in recent years espoused policies to rein in financial excesses. This stance seems to have been thrown to the wind, with a slew of measures implemented and announced to support fragile sectors of the economy — including tech and construction companies. Finally, the Fed’s hawkish turn (with the board now expecting higher inflation relative to the December decision, and the median member forecasting 6 rate hikes this year) and the 25bps interest rate hike. This rate hike seems to have been a sell-the-rumour buy-the-news event. In contrast to equities, gold suffered under the weight of rising bond yields in the US; higher yields make holding the yellow metal, which produces no cash flows, less attractive.

In the NFT space, it was a big week for the creators of Bored Ape Yacht Club (BAYC), Yuga Labs, announced the acquisition of the Intellectual Property (IP) of the CryptoPunks and Meebits NFT collections from Larva Labs. On top of the remarkable acquisition of IP rights to arguably some of the most sought after blue chip NFT collections on the market, Yuga Labs also launched their governance token ApeCoin (APE). At the time of writing the token had a market capitalization of $3.8bn.

Indicators (11 March — 18 March)

Invictus Margin Lending (IML): $1.322, -0.04% (weekly compound annualized rate, some lending activities were paused this week due to the token migration)
Crypto10 Hedged (C10): $6.83, +0.91%
Crypto20 (C20): $3.23, +2.80%
Invictus Bitcoin Alpha (IBA): $2.17, +3.52%
Invictus Hyperion Fund (IHF): $0.502 (Updated Q4–21)
Invictus Capital Token (ICAP): $5.95, -16.09%
BTC: $40,991.63, +3.91%
ETH: $2,816.50, +7.99%
GOLD: $1,943.64, -2.59%
S&P500: 4,411.67, +3.57%

The Invictus Roadmap, Upcoming Token Migration

We are excited to announce the upcoming Invictus Capital roadmap and new features this quarter.

Find out about upcoming Regulatory updates, the Polygon token swap, new wallet features, the Invictus App, and the Yield Vault.

Roadmap Article
Polygon Token Claim Process
Regulation And Polygon YouTube Series 1/3
Remember to resubmit your KYC before 31 March 2022, if not already done, as we move to become regulated and migrate to Polygon. This will enable you to transact and claim your C20, C10, IML, IBA tokens
LP Migration Program: The program has concluded as of Friday 18 March. As we migrate to Polygon on 31 March 2022, the process involves making use of a snapshot at a particular block. As this snapshot is taken, all current ERC20 tokens will be considered deprecated. It is therefore very important that any Uniswap LPs for C20 remove their liquidity from Uniswap before 30 March 2022. IHF and ICAP should be withdrawn before 20 April

Invictus NFT Lab Updates

While the Poster NFT lottery — in which you can win the right to freely mint a deflationary NFT implicitly backed by the incredible Original NFT collection — continues to run, we also have some exciting announcements to make next week. Stay tuned!

https://invictusnftlab.com/

Enter the lottery here.

Podcast with Musa & Phumlani

Shado Twala spoke with Musa and Phumlani who were both born in Soweto. Musa founded a visual artist management and curatorial studio in Johannesburg which is home to a few of our contributing Out of Africa artists including Phumlani.

Watch it here.

Podcast with Claude Chandler

Shado Twala welcomes Claude Chandler who was exposed to art at a young age and grew up in galleries due to his parents being artists. Claude has contributed 3 pieces to the Out of Africa Collection and believes that NFTs have created an opportunity for artists in the digital realm to add value and a monetary aspect to their work which has always been a challenge.

Check it out here.

Invictus Margin Lending Fund Rebrand to Invictus Stable Growth Fund

In April 2022, the Invictus Margin Lending (IML) Fund will be rebranded to the Invictus Stable Growth (ISG).

This change is a reflection of the evolution that the fund has undergone since its inception and its aim to provide a better description of the fund’s current strategy and return profile.

Invictus Capital: Weekly Wrap 18.03

Written by Dean Adair