Fumbi Product Performance During the First Half of 2023
At Fumbi, we are committed to continuously increasing transparency and openness towards our clients. Therefore, in addition to regular audits of wallet balances, we will bring you updates on the performance of individual Fumbi products on a semi-annual basis.
Transparency has been one of the most important pillars of our business since the early days of Fumbi. That is why we have decided to bring you a new section that will give you a comprehensive overview of the performance of all products and assets available at Fumbi.
Fumbi Index Portfolio
The Fumbi Index Portfolio remains the most popular product among our users. This regularly rebalanced portfolio provides an easy way for virtually anyone to invest in cryptocurrencies today. The Fumbi Index Portfolio currently consists of 22 top vetted cryptocurrencies, where our Fumbi Algorithm adjusts the asset weights daily to make this portfolio as true a representation of the current market situation as possible.
In the first quarter, the Fumbi Index Portfolio grew by 65.76% overall. The surge in the cryptocurrency market after a bear year in 2022 was due to a number of factors. In 2023, as the market recovers from the FTX cryptocurrency crash and the collapse of several banks in the United States, investors have once again begun to look to Bitcoin as a safe haven in times of crisis.
Bitcoin and Ethereum cryptocurrencies have the largest representation in the Fumbi Index Portfolio, cumulatively accounting for as much as 80-90% of the entire portfolio. The Bitcoin market unit reached its price peak in the first half of the year on July 4, when one BTC traded for €28,522. Ethereum reached its six-month high back on April 17, when it traded for €1,936.
Through the Fumbi Custom, our clients have the opportunity to invest directly in the assets of their choice. There are currently five cryptoassets available in the Custom Choice product, namely Bitcoin, Ethereum, Avalanche, Polkadot and Cardano.
For the first half of this calendar year, Bitcoin fared the best among these assets, rising as much as 81.6% in the first 6 months. Among altcoins, Ethereum was the best performer, rising 52.76%. Cryptocurrencies Avalanche, Polkadot and Cardano also ended in positive numbers, rising by 14.77%, 14.06% and 10.36%.
Bitcoin and Gold
Back in 2021, we launched an innovative product known as Bitcoin and Gold, which offers the possibility of a more conservative exposure to the cryptocurrency market. This product combines the power and growth potential of the most popular cryptocurrency, Bitcoin, with the stability of traditional gold in the form of the cryptocurrency PAX Gold.
Between January and June 2023, the value of investments in this product grew by 38.81%. The main catalyst for this growth has been the rapid rise of Bitcoin, but gold, represented by the cryptocurrency PAX Gold, has also contributed in no small way, rising by over 2% since the beginning of the year.
In the Staking Portfolio, you have the opportunity to invest in 10 cryptoassets operating on the Proof-of-Stake consensus algorithm that generate staking rewards for you. The prices of the individual assets in this product declined during the ongoing bear market, which was reflected in the underperformance in this product.
With the arrival of the new year, we at Fumbi have launched a new product called Advanced Portfolios, which gives our users the ability to create diversified crypto-portfolios according to their own preferences and needs. More than 50 cryptoassets are currently available to choose from, and we are regularly adding new and innovative assets to this product.
Of the available assets in the Advanced Portfolios product, Injective (INJ) cryptocurrency has performed the best during the first half of the year, up over 528% year-to-date as of June 30, 2023. You can see an overview of the top 10 growth assets in this product in the chart below.
Investing With Fumbi Is Very Easy and Safe
Fumbi brings you the opportunity to easily and safely invest in cryptocurrencies. Take advantage of the potential especially now that cryptocurrencies are in a big decline from their peak values.
You can start investing with Fumbi from as little as €50. There is a wide range of products to choose from, which are perfect not only for beginners, but also for advanced investors who want to put together their crypto portfolio themselves.START INVESTING
Note: Products as well as individual cryptoassets are tracked in currency pairs with EUR.