SVB collapse and temporary de-peg of USDC in March surfaced fears over stability of the banking sector. The Dixie index fell, while many turned to Bitcoin and Ethereum as a safe haven. The uncertain future of the US dollar has many believing the solution lies in crypto.
But crypto is constantly evolving and there is a lot of uncertainty still. There is no clear winner yet and from the risk perspective it makes a lot more sense to put your money on multiple winning horses. Good news is that you can opt into Thematics with just a few taps on your phone.
Growth
In March we again observed a small trickle of new Thematic owners, which always excites us. The overall Thematic AUM is a bit lower compared to a month ago, but this is due to a smaller market downturn in March.
We are very proud of everyone that keeps opting into our Thematic now, before the next bull run starts. This is how the real profits are made.
Performance
Below is the performance of the Web3 Thematic compared to individual assets. The Last Month column represents the performance in January and the To ATH is the gains we would all make, if the assets were to return to their all-time-high price.
Since Bitcoin was the real star of the show in March, the altcoin market was mostly red. This is not the first time it has happened and usually, once Bitcoin calmed down the profits made their way into altcoins and NFTs. However, never forget that what happened in the past, doesn’t indicate the future.
Best & Worst
The best performer from the Web3 Thematic was Ethereum, the main reason behind it being it’s the second largest one besides Bitcoin. Keep in mind that March was Bitcoin season and hence the vast majority of tokens underperformed against BTC, including Ethereum.
And that is normal behaviour given the current turbulent circumstances. Sooner or later things will stabilise and winners will emerge.
Long-term comparison
While March was not the most exciting when it comes to performance, our Web3 Thematic continues to serve its purpose. These are to help users easily diversify their portfolio in a way that outperforms the broad web3 ecosystem.
- The performance of the Web3 Thematic includes exchange fees (based on Generation Premium tier level).
- The Web3 Thematic was launched on 06/10/2022. The performance prior to this date has been backtested
- This is a projection over the past 2 years with stable fees and no change in the composition, but with rebalancing.
Mina was only launched on 02/06/2021, added accordingly at that date.
Conclusion
The Web3 Thematic was just the start. The vision of SwissBorg is much grander than that. We are excited about the new upgrades just around the corner, from the new Opportunities, to updating CHSB utilities and to eventually adding new Thematics. You can expect interesting months ahead. You can help us by sharing your feedback with us on Twitter, Discord or anywhere else you can find us. Until then, keep calm and continue to BUIDL.
