Reports · Methodology 2.1
C100 monthly report: January 2026
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
- −12.00%
- Bitcoin
- −10.12%
- Ethereum
- −17.45%
- C100 year to date
- −12.00%
C100 closed the month at 7,727.77 (Feb 1, 2026, 00:00 UTC), −22.7% from its all-time high of 9,996.45 (Nov 20, 2025).
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 12.0% in January 2026, underperforming Bitcoin (−10.1%) by 1.9 pp and outperforming Ethereum (−17.5%) by 5.5 pp.
The equal-weight C100-EW fell 11.0%, so the larger constituents did worse than the average constituent.
AI added most to the return (+0.03 pp) and Layer 1 detracted most (−7.59 pp).
Among the constituents at month end, Pump.fun (PUMP) had the largest gain (+41.0%) and pippin (PIPPIN) the largest loss (−51.4%).
Year to date the index is down 12.0%; it ended January 22.7% below its all-time high of 9,996.45 (November 20, 2025).
At the rebalance on February 2, 2026, weights were reset to target with one-way turnover of 3.5%. Membership is reviewed quarterly, so no assets were added or removed.
After the review, the ten largest constituents made up 65.7% of the index and Bitcoin and Ethereum together 27.7%; 7 assets' weights were set by a cap rule.
January 2026: C100 vs Bitcoin and Ethereum
Returns
| Index or asset | January | Year to date |
|---|---|---|
| C100 | −12.00% | −12.00% |
| C100 Equal Weight | −10.99% | −10.99% |
| C25 | −11.53% | −11.53% |
| C100 ex-BTC | −12.43% | −12.43% |
| Bitcoin | −10.12% | −10.12% |
| Ethereum | −17.45% | −17.45% |
Best and weakest constituents
| Asset | Return | Contribution |
|---|---|---|
| Pump.fun PUMP | +40.95% | +0.03 pp |
| MYX Finance MYX | +26.12% | +0.03 pp |
| Hyperliquid HYPE | +22.15% | +0.47 pp |
| Render RENDER | +20.66% | +0.04 pp |
| Monero XMR | +7.15% | +0.16 pp |
| Asset | Return | Contribution |
|---|---|---|
| pippin PIPPIN | −51.39% | −0.07 pp |
| Zcash ZEC | −40.91% | −0.88 pp |
| AB AB | −37.79% | −0.04 pp |
| SPX6900 SPX | −37.49% | −0.03 pp |
| XDC Network XDC | −31.81% | −0.08 pp |
Sectors
| Sector | Contribution | Weight start → end |
|---|---|---|
| Layer 1 | −7.59 pp | 64.91% → 63.31% |
| Exchange | −0.82 pp | 9.41% → 8.98% |
| Payments | −0.75 pp | 6.53% → 6.96% |
| Memes | −0.57 pp | 6.63% → 6.66% |
| DeFi | −1.04 pp | 3.85% → 5.11% |
| Privacy | −0.76 pp | 4.38% → 4.46% |
| Layer 2 | −0.38 pp | 2.35% → 2.14% |
| Other | −0.12 pp | 0.38% → 0.87% |
| Oracles & Infra | +0.01 pp | 0.78% → 0.82% |
| AI | +0.03 pp | 0.66% → 0.63% |
| Gaming & Metaverse | +0.01 pp | 0.13% → 0.07% |
Contributions are in percentage points of the C100 return and add up to it.
Rebalance on Feb 2, 2026
One-way turnover 3.55%, 100 constituents. All rebalances
| Asset | Before | After | Cap |
|---|---|---|---|
| Bitcoin BTC | 15.01% | 13.83% | capped |
| TRON TRX | 5.63% | 4.50% | capped |
| Ethereum ETH | 12.88% | 13.83% | capped |
| BNB BNB | 7.57% | 6.91% | capped |
| Dogecoin DOGE | 4.06% | 4.50% | capped |
| Hyperliquid HYPE | 2.90% | 2.71% | |
| Monero XMR | 2.28% | 2.47% | |
| Bitcoin Cash BCH | 3.10% | 2.92% | |
| Ondo ONDO | 0.25% | 0.40% | |
| Solana SOL | 6.38% | 6.52% | capped |
| Shiba Inu SHIB | 1.03% | 1.16% | |
| XRP XRP | 6.80% | 6.91% | capped |
| Cardano ADA | 2.94% | 3.05% | |
| Stellar XLM | 1.59% | 1.70% | |
| Chainlink LINK | 1.93% | 2.04% |
Concentration
- Top 10 weight
- 65.68%
- Bitcoin + Ethereum
- 27.66%
- Weights set by a cap
- 7
- Constituents
- 100
Target weights after the review.