Reason for big shift in portfolio structure:
$ATOM was one of the best L1 performers of the bear cycle in 2022 & it was our main holding. Sure we felt the pain but we outperformed overall the market. Recently we dumped $ATOM . Reasoning is simple.
$ATOM belongs to the coins that have the least correlation to $BTC & other part of crypto,.
Most L1's got hit extremely hard in bear cycle --> most suffered more than 90% loses
We are hard believers in $ETH but it has few technical disantvantages that other L1 have solved. This was the reasoning for our $ATOM pick.
Since $BTC is on rampage lately, we can see that $ATOM is slowly underperforming it, while some altcoins are having crazy runs.
$NEAR was heavily impacted due to VC & Institutions like DCG have had big positions in it & they had to liquidate assets due to bankruptcy of their subsidiary Geneis. NEAR PROTOCOL is already live with sharding, has one of highest developer activity, very strong treasury and one of the biggest support from VC Firms. Seeing it down nearly 90% from ATH is a perfect point to enter.
$RUNE is extremely complicated to explain in 1 sentence so we will summarise it.
Thorchain is a crosschain DEX agregator. It works like a liquidity blackhole for entire crypto space. Offers self custory, directly from your hardware wallet, beeing able to swap to any chain, take a loan, earn yield etc... And best part it's part of $ATOM Ecosystem. Once liquidity and high volumes return to crypto so will $RUNE's price. Recently biggest & most trusted wallet providers have implemented or have announced they are implementing $RUNE in it's backend (TrustWallet, Ledger,...)
We'll say it in a simple way: YOU WILL USE $RUNE & YOU WILL BE HAPPY WITHOUT KNOWING YOU ARE USING IT. With THORCHAIN there is no more need to CEX's like Binance, Coinbase etc... 😉
$MKR Is the 2nd biggest protocol on Ethereum and biggest decentralised stable coin project
$DOT Is a crosschain L1 protocol that fullfils our multichain thesis.
We believe some of our picks will outperform $BTC heavily in following weeks. $ATOM has lately alot of drama in governance so we have exited it due to risk reward. We believe our picks are primed for a heavy run to the upside.
RUNE is a beauty. Adoption by stealth being added to back end of apps to to facilitate native transactions across blockchains.