High Altcoins Traded by Crypto Funds In 2020

    Supply: Adobe/Open Studio

    Whereas some 56% of surveyed crypto hedge funds declare that bitcoin (BTC) was chargeable for not less than half of their each day crypto buying and selling quantity in 2020, with 15% of the funds buying and selling solely in bitcoin, they had been additionally trying into different cryptoassets.

    Among the many high traded cash by each day quantity final 12 months, the funds pointed to ethereum (ETH), with 67% of funds buying and selling the cryptoasset, litecoin (LTC), at 34%, chainlink (LINK), with 30%, polkadot (DOT), at 28%, and aave (AAVE) with 27%, in response to a report launched by worldwide consultancy PwC, Elwood Asset Administration, and the Various Funding Administration Affiliation.

    “Among the many high 15 traded altcoins, a few of them are significantly extra common than their market capitalization would counsel. Litecoin and Chainlink are the second and third most traded altcoins, however their market capitalizations are far decrease than Polkadot and Cardano, which fare decrease within the buying and selling ranks,” they famous.

    Cryptoassets traded by crypto hedge funds and their market capitalization:

    Top Altcoins Traded by Crypto Funds In 2020 102
    Supply: third Annual International Crypto Hedge Fund Report 2021

    Additionally, in contrast with 2019, the share of funds concerned in staking remained on the similar stage final 12 months, at 42%, whereas lending exercise elevated to 38% in contrast with 33% a 12 months earlier. The identical share of crypto hedge funds engaged in borrowing, at 24%, the report stated.

    Henri Arslanian, Crypto Chief at PwC, commented that the consultancy expects “inflows into crypto hedge funds to proceed to extend over the approaching months as increasingly more institutional buyers determine to allocate to this fast-growing area.”

    In the meantime, earlier than the current crash out there, fund managers demonstrated a bullish strategy to bitcoin.

    “On the time of the closure of our survey, the bitcoin worth was hovering round USD 59,000, and all however one respondent predicted a price greater than that, with the median predicted worth being USD 100,000. In actual fact, the vast majority of predictions had been within the USD 50,000 to USD 100,000 vary (65%), with one other 21% predicting costs could be between USD 100,000 and USD 150,000,” the report stated.

    At 11:35 UTC, BTC trades at USD 37,268 and is up by 6% in a day, trimming its weekly losses to lower than 19%.

    The fund managers additionally share optimism close to the overall crypto market capitalization which, on the time the survey was closed, stood at about USD 2trn.

    “Fund managers are additionally bullish, with over 76% of funds estimating that market capitalization would end the 12 months above present ranges, with the median predicted stage at USD 3 trillion, and most forecasts falling within the USD 2 trillion to USD 5 trillion vary,” in response to the report.

    At present, it stands above USD 1.6trn.

    Among the different takeaways from the report embrace the next information:

    • The overall property beneath administration (AuM) of the world’s crypto hedge funds elevated to just about USD 3.8bn in 2020 from USD 2bn the earlier 12 months;
    • The proportion of crypto hedge funds with AuM of greater than USD 20m elevated in 2020 from 35% to 46%;
    • The typical AuM for the surveyed funds elevated from USD 12.8m to USD 42.8m, whereas the median AuM elevated from USD 3.8m to USD 15m;
    • The median crypto hedge fund returned +128% in 2020 in opposition to +30% in 2019.

    Be taught extra:
    – Bitcoin Dominance Rises Once more As Funds Are Shopping for The Dip
    – Analysts See ‘Seismic shift’ In Bitcoin Mining Amid Chinese language ‘Crackdown’

    – Merchants Rotate From Bitcoin To Alts, Whereas JPMorgan Sees Ether As Overvalued
    – Bitcoin’s Correlation with Altcoins is Declining Once more. What Does it Imply?

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