Reports · Methodology 2.1
C100 monthly report: February 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
- −13.60%
- Bitcoin
- −14.83%
- Ethereum
- −19.77%
- C100 year to date
- −23.96%
C100 closed the month at 6,677.06 (Mar 1, 2026, 00:00 UTC), −33.2% 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 13.6% in February 2026, outperforming Bitcoin (−14.8%) by 1.2 pp and outperforming Ethereum (−19.8%) by 6.2 pp.
The equal-weight C100-EW fell 9.5%, so the larger constituents did worse than the average constituent.
Every sector detracted from the return: Gaming & Metaverse least (−0.01 pp) and Layer 1 most (−7.91 pp).
Among the constituents at month end, pippin (PIPPIN) had the largest gain (+210.6%) and MYX Finance (MYX) the largest loss (−91.4%).
Year to date the index is down 24.0%; it ended February 33.2% below its all-time high of 9,996.45 (November 20, 2025).
At the rebalance on March 2, 2026, weights were reset to target with one-way turnover of 2.4%. Membership is reviewed quarterly, so no assets were added or removed.
After the review, the ten largest constituents made up 65.8% of the index and Bitcoin and Ethereum together 28.0%; 7 assets' weights were set by a cap rule.
February 2026: C100 vs Bitcoin and Ethereum
Returns
| Index or asset | February | Year to date |
|---|---|---|
| C100 | −13.60% | −23.96% |
| C100 Equal Weight | −9.49% | −19.44% |
| C25 | −13.55% | −23.52% |
| C100 ex-BTC | −13.65% | −24.38% |
| Bitcoin | −14.83% | −23.45% |
| Ethereum | −19.77% | −33.78% |
Best and weakest constituents
| Asset | Return | Contribution |
|---|---|---|
| pippin PIPPIN | +210.57% | +0.12 pp |
| Morpho MORPHO | +55.32% | +0.07 pp |
| Aster ASTER | +31.62% | +0.13 pp |
| MemeCore M | +13.21% | +0.06 pp |
| Sky SKY | +12.14% | +0.05 pp |
| Asset | Return | Contribution |
|---|---|---|
| MYX Finance MYX | −91.37% | −0.28 pp |
| Optimism OP | −47.63% | −0.06 pp |
| Data Network DATA | −37.52% | −0.06 pp |
| Bitget Token BGB | −32.63% | −0.21 pp |
| DoubleZero 2Z | −29.01% | −0.03 pp |
Sectors
| Sector | Contribution | Weight start → end |
|---|---|---|
| Layer 1 | −7.91 pp | 63.31% → 63.10% |
| Memes | −0.61 pp | 6.66% → 7.82% |
| Exchange | −1.71 pp | 8.98% → 7.81% |
| Payments | −1.12 pp | 6.96% → 6.89% |
| DeFi | −0.46 pp | 5.11% → 5.47% |
| Privacy | −1.19 pp | 4.46% → 3.96% |
| Layer 2 | −0.31 pp | 2.14% → 2.24% |
| Other | −0.17 pp | 0.87% → 1.00% |
| Oracles & Infra | −0.06 pp | 0.82% → 0.92% |
| AI | −0.04 pp | 0.63% → 0.72% |
| Gaming & Metaverse | −0.01 pp | 0.07% → 0.07% |
Contributions are in percentage points of the C100 return and add up to it.
Rebalance on Mar 2, 2026
One-way turnover 2.35%, 100 constituents. All rebalances
| Asset | Before | After | Cap |
|---|---|---|---|
| Hyperliquid HYPE | 3.18% | 2.60% | |
| BNB BNB | 6.42% | 7.00% | capped |
| TRON TRX | 5.06% | 4.50% | capped |
| Bitcoin BTC | 13.47% | 14.00% | capped |
| Ethereum ETH | 13.47% | 14.00% | capped |
| Monero XMR | 2.37% | 2.01% | |
| XRP XRP | 6.69% | 7.00% | capped |
| Solana SOL | 6.16% | 6.01% | capped |
| Chainlink LINK | 2.14% | 2.02% | |
| Bitcoin Cash BCH | 2.85% | 2.96% | |
| Mantle MNT | 0.73% | 0.67% | |
| Cardano ADA | 3.33% | 3.28% | |
| Gram (prev. Toncoin) GRAM | 0.97% | 1.02% | |
| Hedera HBAR | 1.43% | 1.39% | |
| Aave AAVE | 0.59% | 0.56% |
Concentration
- Top 10 weight
- 65.84%
- Bitcoin + Ethereum
- 27.99%
- Weights set by a cap
- 7
- Constituents
- 100
Target weights after the review.