At the end of May 2018, the price of Crush Crypto Core (CCC) was $1.9799, representing a decline of 30.1% from the previous month.
CCC is a digital asset array on the ICONOMI platform. Starting with a $100,000 seed capital in October 2017, CCC had assets under management of $2 million as of May 31, 2018.
After a short rebound in April, the overall market was down again in May. We are generally on a downtrend so far this year.
The highly anticipated Consensus blockchain week didn’t improve the overall sentiment and bring immediate fund flow into the market. As a result, the market was disappointed and trended downward afterwards. Trading volume was generally light especially towards the end of the month.
However, we are still bullish on the market. Institutional investors are definitely paying close attention to the space and a lot of money wants to get in. It’s just that the development of infrastructure is slower than some investors expect. Compliance and regulation just doesn’t move at crypto speed.
It is interesting to point out that while the general market had been slow, the ICO space is a completely different story. Solid projects are massively oversubscribed by venture capital firms and funds. Even syndicate pools are more frequently getting shut out from popular projects.
This reflects some investors’ desire to “find the next big thing”, and also the increasingly crowded space in ICOs.
CCC dropped by 30.1% during May 2018. In general, smaller coins underperformed bigger ones with the exception of 0x, which rose 8% during the month.
All the coins were down across the board, with bigger coins (ether -14%, bitcoin -19%) generally outperforming smaller ones (Qtum -41%, Steem -39%), with the exception of Monero (-36%) because of the news about Japanese Financial Services Agency's new policy aimed at banning privacy coins.
Other than 0x which was up 8%, all tokens in the portfolio dropped, with performance ranging from -29% (Funfair) to -50% (Kyber Network).
With the 10 new coins being recently introduced on the iconomi platform, we are adding a number of coins and tokens into our portfolio (Neo, Stellar, Wanchain, aelf, Zilliqa, Loom Network, and Binance Coin) and removing a few (Dash, Everex, and Ripio Credit Network).
* The information contained in this article is for education purpose only and not financial advice. Do your own research before making any investment decisions.