Invictus Capital: Weekly Wrap 24.09

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Market News

Monday saw months of speculation around the potential default of China’s Evergrande spilling over into global markets. Stocks fell to the lowest levels in more than a month (the S&P500 and the tech-heavy Nasdaq fell 1.7% and 2.2% respectively) as concerns of slowing growth and accelerating covid-19 infections, along with the potential collapse of the indebted property developer, gripped global markets ahead of the much anticipated Federal Reserve policy meeting on Wednesday.

The Fed’s contribution to a turbulent week for global markets turned out to be in line with what markets were expecting, with officials maintaining that inflation is transitory and that the US will continue its $120 billion per month bond purchases, for now. A statement from the FOMC on Wednesday explained that the US central bank could begin scaling back asset purchases in November and complete the process by mid-2022, with officials revealing a growing inclination to start increasing interest rates after completing the taper process.

Meanwhile, US unemployment fell to 5.25% in August, well below the April 2020 high of 14.8% while inflation was 4.2% in the 12 months through July, above the Fed’s 2% target with officials expecting it to be more in line with their target rate after temporary supply-chain disruptions as a result of the coronavirus pandemic have been resolved. In the meantime, gold rose on the news that the Fed is delaying tapering plans for at least another meeting.

Following Monday’s Chinese Evergrande fear induced sell-off, the crypto market appears to be recovering after Evergrande made a deal to pay its debt, coupled with the news of the Fed signalling a continuation of its current monetary policy. The crypto market remains under regulatory pressure as SEC chairman Gary Gensler reaffirmed plans to direct the SEC to crack down on crypto and the growing stablecoin market. Interestingly, bullish price action has since followed, driven by the positive news around Evergrande and the Fed helping to spark a recovery across the broader crypto market lifting Bitcoin to as high as $44,000 on some exchanges, while big gains were made by altcoins like Solana ($SOL) and Avalanche ($AVAX), which are up 12.9% and 22.9% respectively at the time of publication.

While institutional interest remains strong, the general public continues to be bombarded with crypto advertising which bodes well for adoption. The NBA’s Philadelphia 76ers have signed a jersey patch deal with crypto company crypto.com, with the Sixers launching NFTs on the crypto.com platform and helping educate fans about cryptocurrency as part of the deal.

Indicators (17 September — 23 September)

The Invictus Podcast: Episode 4

As builders of the new financial system, we speak to our peers and industry leaders in the blockchain space.

This week our hosts hosts Nick, Niall and Andre welcome our guest, Yenwen Feng, the Co-founder of Perpetual Protocol!

Watch the video here.

Invictus DeFi Fund Announcement

Invictus recently announced news of an exciting fund planned to launch early next year:

Register your interest here!

Invictus Yield Vault

The Invictus Yield Vault allows qualifying lenders the opportunity to lend a minimum amount of $50,000 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.

For a limited period, 18-month crypto loans are at a very attractive interest rate of 12.0% APR!

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.

Other News & Links

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