Reports · Methodology 2.1
C100 monthly report: March 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
- +0.77%
- Bitcoin
- +1.84%
- Ethereum
- +7.09%
- C100 year to date
- −23.38%
C100 closed the month at 6,728.41 (Apr 1, 2026, 00:00 UTC), −32.7% 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 rose 0.8% in March 2026, underperforming Bitcoin (+1.8%) by 1.1 pp and underperforming Ethereum (+7.1%) by 6.3 pp.
The equal-weight C100-EW fell 4.8%, so the larger constituents did better than the average constituent.
Layer 1 added most to the return (+1.74 pp) and DeFi detracted most (−0.77 pp).
Among the constituents at month end, Bittensor (TAO) had the largest gain (+67.1%) and pippin (PIPPIN) the largest loss (−91.8%).
Year to date the index is down 23.4%; it ended March 32.7% below its all-time high of 9,996.45 (November 20, 2025).
At the reconstitution on April 6, 2026, weights were reset to target with one-way turnover of 4.1%. 12 assets were added and 12 removed.
After the review, the ten largest constituents made up 65.3% of the index and Bitcoin and Ethereum together 28.2%; 7 assets' weights were set by a cap rule.
March 2026: C100 vs Bitcoin and Ethereum
Returns
| Index or asset | March | Year to date |
|---|---|---|
| C100 | +0.77% | −23.38% |
| C100 Equal Weight | −4.79% | −23.30% |
| C25 | +0.70% | −22.98% |
| C100 ex-BTC | +0.74% | −23.82% |
| Bitcoin | +1.84% | −22.04% |
| Ethereum | +7.09% | −29.08% |
Best and weakest constituents
| Asset | Return | Contribution |
|---|---|---|
| Bittensor TAO | +67.15% | +0.43 pp |
| MemeCore M | +62.39% | +0.36 pp |
| Artificial Superintelligence Alliance FET | +48.04% | +0.06 pp |
| Render RENDER | +23.61% | +0.06 pp |
| Chiliz CHZ | +22.06% | +0.03 pp |
| Asset | Return | Contribution |
|---|---|---|
| pippin PIPPIN | −91.79% | −0.18 pp |
| MYX Finance MYX | −46.29% | −0.02 pp |
| Data Network DATA | −45.87% | −0.05 pp |
| Humanity H | −31.84% | −0.03 pp |
| AB AB | −31.75% | −0.02 pp |
Sectors
| Sector | Contribution | Weight start → end |
|---|---|---|
| Layer 1 | +1.74 pp | 63.10% → 63.97% |
| Exchange | −0.13 pp | 7.81% → 8.18% |
| Memes | +0.02 pp | 7.82% → 7.78% |
| Payments | −0.18 pp | 6.89% → 6.95% |
| DeFi | −0.77 pp | 5.47% → 4.64% |
| Privacy | +0.09 pp | 3.96% → 3.67% |
| Layer 2 | −0.03 pp | 2.24% → 2.13% |
| Other | −0.02 pp | 1.00% → 0.95% |
| Oracles & Infra | −0.03 pp | 0.92% → 0.88% |
| AI | +0.09 pp | 0.72% → 0.79% |
| Gaming & Metaverse | −0.01 pp | 0.07% → 0.07% |
Contributions are in percentage points of the C100 return and add up to it.
Reconstitution on Apr 6, 2026
One-way turnover 4.12%, 100 constituents. All rebalances
| Asset | Before | After | Cap |
|---|---|---|---|
| Canton CC | — | 1.64% | |
| Ethereum ETH | 14.87% | 14.12% | capped |
| TRON TRX | 4.99% | 4.50% | capped |
| BNB BNB | 6.65% | 7.06% | capped |
| XRP XRP | 6.70% | 7.06% | capped |
| DeXe DEXE | — | 0.23% | |
| Bitcoin BTC | 14.34% | 14.12% | capped |
| Midnight NIGHT | — | 0.22% | |
| Cardano ADA | 2.94% | 2.75% | |
| LayerZero ZRO | — | 0.18% | |
| Stable STABLE | — | 0.18% | |
| JUST JST | — | 0.16% | |
| Solana SOL | 5.75% | 5.63% | capped |
| siren SIREN | — | 0.12% | |
| Stellar XLM | 1.75% | 1.64% |
Added (12)
- Canton CCentered at eligible rank #14 (newcomers need the top 90)
- DeXe DEXEentered at eligible rank #47 (newcomers need the top 90)
- Midnight NIGHTentered at eligible rank #48 (newcomers need the top 90)
- LayerZero ZROentered at eligible rank #56 (newcomers need the top 90)
- Stable STABLEentered at eligible rank #57 (newcomers need the top 90)
- JUST JSTentered at eligible rank #63 (newcomers need the top 90)
- siren SIRENentered at eligible rank #72 (newcomers need the top 90)
- AINFT NFTentered at eligible rank #77 (newcomers need the top 90)
- Venice Token VVVentered at eligible rank #78 (newcomers need the top 90)
- Monad MONentered at eligible rank #82 (newcomers need the top 90)
- Kite KITEentered at eligible rank #83 (newcomers need the top 90)
- Zebec Network ZBCNentered at eligible rank #85 (newcomers need the top 90)
Removed (12)
- pippin PIPPINno longer eligible: outside the top 150 after exclusions
- Data Network DATAeligible rank #112; dropped because more than 100 assets qualified
- Humanity Heligible rank #103; dropped because more than 100 assets qualified
- AB ABno longer eligible: 30-day median volume below $5M
- Ethereum Name Service ENSeligible rank #104; dropped because more than 100 assets qualified
- Starknet STRKeligible rank #110; dropped because more than 100 assets qualified
- Pendle PENDLEeligible rank #114; dropped because more than 100 assets qualified
- dogwifhat WIFeligible rank #111; dropped because more than 100 assets qualified
- Gala GALAeligible rank #130, outside the top 120 that constituents need to stay
- Fartcoin FARTCOINeligible rank #119; dropped because more than 100 assets qualified
- Raydium RAYeligible rank #118; dropped because more than 100 assets qualified
- MYX Finance MYXno longer eligible: outside the top 150 after exclusions
Concentration
- Top 10 weight
- 65.33%
- Bitcoin + Ethereum
- 28.24%
- Weights set by a cap
- 7
- Constituents
- 100
Target weights after the review.