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The original was posted on /r/cryptocurrency by /u/Joe-M-4 on 2023-08-11 16:04:47.
EXPERIMENT - Tracking 2023 Top Ten Cryptocurrencies – Month Seven - Up +34%
Find the full blog post with all the tables and graphs here.
Welcome to your monthly no-shill data dump: Here's the 7th monthly report for the 2023 Top Ten Experiment featuring BTC, ETH, BNB, XRP, BUSD, DOGE, ADA, MATIC, DOT, and LTC.
SNAPSHOTS ALWAYS TAKEN ON FIRST OF THE MONTH (data below reflects 1 AUG Snapshot).
tl;dr
- What's this all about? I purchased $100 of each of Top 10 Cryptos in Jan. 2018, haven't sold or traded, reporting monthly for over 5.5 years for your reading pleasure. Did the same in 2019, 2020, 2021, 2022, and 2023. Learn more about the history and rules of the Experiments (including why in the world I would include stablecoins) here. Learn more about the new features in the 2023 Top Ten Experiment here.
- JULY Highlights: - XRP explodes, taking the monthly victory and overtaking Bitcoin for the overall lead. BTC is now in second place, ETH in third.
- The 2023 portfolio is +34% so far this year. DCA'ing once a year into Top Ten Cryptos for the last 6 years has produced much better returns than S&P 500 over the same time period (+106% vs S&P500's +39% - see below for details).
- New feature: Total market cap token AMKT is leading 2023 Experiment +65% to +34% in this year’s friendly competition between The Top Ten Portfolio and The Alongside Crypto Market Index Token (AMKT).
Month Seven – Up +34%
The 2023 Top Ten Crypto Index Fund Portfolio is BTC, ETH, BNB, XRP, BUSD, DOGE, ADA, MATIC, DOT, LTC.
July highlights for the 2023 Top Ten Portfolio:
- Reversing a three month trend, the 2023 Top Ten increases in value.
- July belonged to XRP, up +50% this month.
- XRP has also leapfrogged into the overall lead so far in 2023, followed by BTC and ETH.
July Ranking and Dropouts
Here’s a look at the movement in the ranks seven months into the 2023 Top Ten Index Fund Experiment:
The rankings have remained remarkably steady so far in 2023: only BUSD has dropped out of the original portfolio, replaced by SOL.
July Winners and Losers
July Winner – Some long awaited good news gave XRP the easy victory in July, finishing the month +50%.
July Loser – LTC was the worst performing of the group this month, -12% in July..
Overall Update: XRP overtakes BTC for the lead, MATIC and only crypto in the red.
XRP (+117%) shot past Bitcoin (+79%) in July, taking the first place position BTC has held for much of the year. The initial $100 invested in XRP seven months ago is worth $218 today.
MATIC is the only Top Ten crypto to dip into the red, down -8%.. For some perspective on MATIC’s decline, it was in the lead just four months ago.
Overall return on $1,000 investment since January 1st, 2023:
The 2023 Top Ten Portfolio gained $69 in July. The initial $1000 investment on New Year’s Day 2023 is now worth $1,338.
At +27%, the 2023 Top Ten Portfolio is at its lowest month end ROI of the year. Here’s a visual summary of the progress so far:
2023 Top Ten Portfolio vs. The Alongside Crypto Market Index Token (AMKT)
New feature this year – The first Top Ten Crypto Experiment was started on 1 January 2018 in an attempt to capture the gains of the entire market. Much has changed in the last 5+ years, including the introduction of index products designed to capture the entire crypto market (instead of manually buying coins and tokens like I do for my Experiments).
This year’s friendly competition is between The 2023 Top Ten Portfolio and The Alongside Crypto Market Index Token (AMKT). AMKT is an ERC-20 token that represents a cap weighted index of the Top 25 Cryptocurrencies (minus stablecoins) backed 1:1 by the underlying assets represented within the index. Since the Top 25 represent approximately 97% of the value within crypto, AMKT is an excellent proxy for the entire cryptocurrency market – exactly what my Top Ten Portfolios have been trying to recreate from the start.
Here’s the question I’m tracking this year: would I have been better off with $1,000 of AMKT instead of creating a homemade $1,000 Top Ten Index Fund?
On 1 January 2023, $1000 was equal to 17.15 AMKT. Seven months into the Experiment, here’s the AMKT snapshot:
July Performances:
- The 2023 Top Ten Portfolio: +5%
- AMKT: -1%
The monthly victory goes to: The 2023 Top Ten Portfolio
Overall since January 1st, 2023:
- The 2023 Top Ten Portfolio: current value $1,338 (+34%)
- AMKT: current value $1,650 (+65%)
Overall lead: The Alongside Crypto Market Index Token (AMKT)
For the more visual, here’s the table I’ll be using to track the friendly Top Ten vs. AMKT competition this year:
Combining the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Crypto Portfolios
The 2023 Top Ten is one of six concurrent experimental portfolios. Where do we stand if we combine all of the Top Ten Crypto Index Fund Experiments?
- 2018 Top Ten Experiment: down -32% (total value $676)
- 2019 Top Ten Experiment: up +259% (total value $3,592)
- 2020 Top Ten Experiment: up +360% (total value $4,596) (best performing portfolio*)*
- 2021 Top Ten Experiment: up +84% (total value $1,838)
- 2022 Top Ten Experiment: down -69% (total value $314) (worst performing portfolio*)*
- 2023 Top Ten Experiment: up +34% (total value $1,338)
Taking the six portfolios together, here’s the bottom bottom bottom bottom bottom bottom line:
After a $6,000 total investment in the 2018, 2019, 2020, 2021, 2022, and 2023 Top Ten Cryptocurrencies, the combined portfolios are worth $12,354.
That’s up +106% on the combined portfolios, a bit up from last month. The peak for the combined Top Ten Index Fund Experiment Portfolios was November 2021’s all time high of +533%. Here’s the combined monthly ROI since I started tracking the metric in January 2020 for those who do better with visuals:
In summary: That’s a +106% gain by investing $1k on whichever cryptos happened to be in the Top Ten on January 1st (including stablecoins) for six straight years.
Comparison to S&P 500
I’m also tracking the S&P 500 as part of my Experiment to have a comparison point to traditional markets.
The S&P 500 is up +19% so far in 2023, compared to the Top Ten Crypto portfolio’s +34%. The initial $1k investment into crypto on New Year’s Day would be worth $1,190 had it been redirected to the S&P.
Taking the same invest-$1,000-on-January-1st-of-each-year approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments, the yields are the following:
- $1000 investment in S&P 500 on January 1st, 2018 = $1,710 today
- $1000 investment in S&P 500 on January 1st, 2019 = $1,830 today
- $1000 investment in S&P 500 on January 1st, 2020 = $1,420 today
- $1000 investment in S&P 500 on January 1st, 2021 = $1,220 today
- $1000 investment in S&P 500 on January 1st, 2022 = $960 today
- $1000 investment in S&P 500 on January 1st, 2023 = $1,190 today
Taken together, here’s the bottom bottom bottom bottom bottom bottom line for a similar approach...
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