2020’s Q2 opened on a positive note, with Bitcoin at $6,400, before closing the quarter at $9,136.
While the global markets were recovering from the COVID induced panic, the crypto markets outperformed and reached the pre-covid levels in early May.
The FED and other central banks provided liquidity globally which drove the equity markets higher. Meanwhile Bitcoin consolidated in the $9000-$10000 range in the later half of the quarter.
While Bitcoin was consolidating, it’s dominance decreased on the back of outperformance by altcoins, mainly led by Ethereum, Chainlink and several DeFi projects.
In Q2, kintarocapitalinvestment.com increased its holding in Ethereum and entered Monero due to attractive valuation. These trades aided in pushing up the performance for the fund as Ethereum outperformed Bitcoin due to a surge in DeFi, decrease in Bitcoin dominance, capital flows into altcoins and the newsflow surrounding Ethereum 2.0.