Reports · Methodology 2.1
C100 monthly report: June 2025
Backtested — before index launch. The index went live on Nov 1, 2026; this month applies the same rules to the market data of the time.
- C100
- −3.16%
- Bitcoin
- +2.41%
- Ethereum
- −1.66%
- C100 year to date
- −21.21%
C100 closed the month at 10,299.17 (Jul 1, 2025, 00:00 UTC), at its all-time high.
Summary
These figures are a backtest: the index went live on November 1, 2026, and earlier values apply the same rules to the market data of the time.
The C100 fell 3.2% in June 2025, underperforming Bitcoin (+2.4%) by 5.6 pp and underperforming Ethereum (−1.7%) by 1.5 pp.
The equal-weight C100-EW fell 7.2%, so the larger constituents did better than the average constituent.
Payments added most to the return (+0.20 pp) and Layer 1 detracted most (−1.20 pp).
Among the constituents at month end, Kaia (KAIA) had the largest gain (+51.7%) and DeXe (DEXE) the largest loss (−47.0%).
Year to date the index is down 21.2% and ended June at an all-time high of 10,299.17.
At the reconstitution on July 7, 2025, weights were reset to target with one-way turnover of 3.6%. 8 assets were added and 8 removed.
After the review, the ten largest constituents made up 65.4% of the index and Bitcoin and Ethereum together 27.9%; 7 assets' weights were set by a cap rule.
June 2025: C100 vs Bitcoin and Ethereum
Returns
| Index or asset | June | Year to date |
|---|---|---|
| C100 | −3.16% | −21.21% |
| C100 Equal Weight | −7.25% | −41.51% |
| C25 | −2.16% | −19.28% |
| C100 ex-BTC | −3.58% | −25.18% |
| Bitcoin | +2.41% | +14.75% |
| Ethereum | −1.66% | −25.34% |
Best and weakest constituents
| Asset | Return | Contribution |
|---|---|---|
| Kaia KAIA | +51.68% | +0.06 pp |
| Sei SEI | +45.09% | +0.09 pp |
| Jito JTO | +34.34% | +0.03 pp |
| Maker MKR | +23.50% | +0.06 pp |
| Bitcoin Cash BCH | +22.07% | +0.35 pp |
| Asset | Return | Contribution |
|---|---|---|
| DeXe DEXE | −46.96% | −0.10 pp |
| Celestia TIA | −36.99% | −0.10 pp |
| MANTRA OM | −32.38% | −0.02 pp |
| Helium HNT | −28.68% | −0.03 pp |
| Core CORE | −26.45% | −0.03 pp |
Sectors
| Sector | Contribution | Weight start → end |
|---|---|---|
| Layer 1 | −1.20 pp | 66.14% → 65.29% |
| Exchange | −0.27 pp | 8.71% → 9.00% |
| Payments | +0.20 pp | 6.44% → 7.61% |
| Memes | −0.94 pp | 7.60% → 6.97% |
| DeFi | −0.18 pp | 3.77% → 3.91% |
| Layer 2 | −0.20 pp | 2.23% → 2.25% |
| Privacy | −0.07 pp | 1.49% → 1.50% |
| AI | −0.32 pp | 1.51% → 1.27% |
| Oracles & Infra | −0.09 pp | 0.99% → 1.04% |
| Other | −0.05 pp | 0.60% → 0.59% |
| Gaming & Metaverse | −0.03 pp | 0.53% → 0.55% |
Contributions are in percentage points of the C100 return and add up to it.
Reconstitution on Jul 7, 2025
One-way turnover 3.56%, 100 constituents. All rebalances
| Asset | Before | After | Cap |
|---|---|---|---|
| Bitcoin BTC | 14.79% | 13.93% | capped |
| Pi PI | — | 0.68% | |
| Ethereum ETH | 14.49% | 13.93% | capped |
| XRP XRP | 7.46% | 6.96% | capped |
| Dogecoin DOGE | 4.10% | 4.50% | capped |
| TRON TRX | 4.89% | 4.50% | capped |
| OFFICIAL TRUMP TRUMP | — | 0.33% | |
| Sky SKY | — | 0.31% | |
| Maker MKR | 0.31% | removed | |
| BNB BNB | 7.18% | 6.96% | capped |
| EOS EOS | 0.21% | removed | |
| Pudgy Penguins PENGU | — | 0.19% | |
| Data Network DATA | — | 0.16% | |
| Sui SUI | 1.78% | 1.93% | |
| Maple Finance SYRUP | — | 0.13% |
Added (8)
- Pi PIentered at eligible rank #25 (newcomers need the top 90)
- OFFICIAL TRUMP TRUMPentered at eligible rank #39 (newcomers need the top 90)
- Sky SKYentered at eligible rank #42 (newcomers need the top 90)
- Pudgy Penguins PENGUentered at eligible rank #60 (newcomers need the top 90)
- Data Network DATAentered at eligible rank #67 (newcomers need the top 90)
- Maple Finance SYRUPentered at eligible rank #77 (newcomers need the top 90)
- Aerodrome Finance AEROentered at eligible rank #82 (newcomers need the top 90)
- Walrus WALentered at eligible rank #87 (newcomers need the top 90)
Removed (8)
- Maker MKRno longer eligible: not in CoinMarketCap's ranked listing
- EOS EOSno longer eligible: not in CoinMarketCap's ranked listing
- MultiversX EGLDeligible rank #114; dropped because more than 100 assets qualified
- Arweave AReligible rank #125, outside the top 120 that constituents need to stay
- Axie Infinity AXSeligible rank #120; dropped because more than 100 assets qualified
- Chiliz CHZeligible rank #124, outside the top 120 that constituents need to stay
- Wormhole Weligible rank #130, outside the top 120 that constituents need to stay
- MANTRA OMno longer eligible: outside the top 150 after exclusions
Concentration
- Top 10 weight
- 65.36%
- Bitcoin + Ethereum
- 27.86%
- Weights set by a cap
- 7
- Constituents
- 100
Target weights after the review.