Every month, 21Shares research team will present the cryptoassets of the month that increased or dropped in value by more than 15%. With a data-driven approach, we highlight the most important developments and events causing price movements.

Figure 1 – 30-Day Performance: Cryptoassets of the Month vs. Traditional Asset Classes

Data Source: Messari and Yahoo Finance, from 16-Sep-2022 to 16-Oct-2022 (Close Price)

XRP Ledger (XRP)

34.37%

XRP rose 34.37% over the past month as investors speculate that its legal battle against the SEC seems to be nearing its end. In December 2020, the SEC filed a lawsuit against Ripple, arguing that XRP satisfies the Howey test’s requirements and is thus a security under U.S. laws. On September 17, both parties agreed to forgo a trial, opting for a summary judgment that could happen before year-end. In addition to court-related developments, on October 17, RippleX announced that XRP Ledger is testing its first EVM-compatible sidechain to bring Ethereum smart contracts to the XRP ecosystem.

Fantom (FTM)

-16.60%

Fantom’s native token FTM traded down 16.60% over the past month. Despite the negative market sentiment, there have been some exciting developments. On October 3, the Fantom Foundation partnered with Moralis and Google Cloud to offer developers $25,000 in prizes for building DeFi applications on Fantom. In addition, the governance proposal to reduce annual staking yield from about 13% to 6% was successfully passed on October 5.

Cardano (ADA)

-22.11%

Cardano’s native token ADA traded down 22.11% over the past month, underperforming the broader market. On September 22, Cardano’s long-anticipated Vasil upgrade triggered, enabling increased network capacity, higher throughput, and lower transaction costs on the smart contract platform. Furthermore, EMURGO – a business incubator and founding member of Cardano – announced a $200 million investment in the Cardano ecosystem over the next three years.

Cosmos (ATOM)

-29.52%

The Cosmos Hub’s native token ATOM traded down 29.52% over the past month despite the anticipated release of the network’s new roadmap, intended to make ATOM the preferred reserve asset in the Cosmos ecosystem. In another exciting development, Circle announced that it plans to make USDC accessible on Cosmos via a neutral asset issuance chain that leverages the Inter-Blockchain Communication (IBC) protocol and the Hub’s Interchain Security.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.