Reports · Methodology 2.1
C100 monthly report: May 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
- +3.51%
- Bitcoin
- −3.59%
- Ethereum
- −11.18%
- C100 year to date
- −16.51%
C100 closed the month at 7,331.42 (Jun 1, 2026, 00:00 UTC), −26.7% 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 3.5% in May 2026, outperforming Bitcoin (−3.6%) by 7.1 pp and outperforming Ethereum (−11.2%) by 14.7 pp.
The equal-weight C100-EW rose 5.4%, so the larger constituents did worse than the average constituent.
Layer 1 added most to the return (+1.52 pp) and Memes detracted most (−0.65 pp).
Among the constituents at month end, Venice Token (VVV) had the largest gain (+115.2%) and Maple Finance (SYRUP) the largest loss (−33.9%).
Year to date the index is down 16.5%; it ended May 26.7% below its all-time high of 9,996.45 (November 20, 2025).
At the rebalance on June 1, 2026, weights were reset to target with one-way turnover of 4.3%. Membership is reviewed quarterly, so no assets were added or removed.
After the review, the ten largest constituents made up 66.2% of the index and Bitcoin and Ethereum together 28.5%; 8 assets' weights were set by a cap rule.
May 2026: C100 vs Bitcoin and Ethereum
Returns
| Index or asset | May | Year to date |
|---|---|---|
| C100 | +3.51% | −16.51% |
| C100 Equal Weight | +5.40% | −13.96% |
| C25 | +4.57% | −15.68% |
| C100 ex-BTC | +4.72% | −16.91% |
| Bitcoin | −3.59% | −15.93% |
| Ethereum | −11.18% | −32.46% |
Best and weakest constituents
| Asset | Return | Contribution |
|---|---|---|
| Venice Token VVV | +115.23% | +0.13 pp |
| Injective INJ | +90.75% | +0.09 pp |
| Hyperliquid HYPE | +81.42% | +2.41 pp |
| NEAR Protocol NEAR | +79.11% | +0.40 pp |
| DeXe DEXE | +68.55% | +0.19 pp |
| Asset | Return | Contribution |
|---|---|---|
| Maple Finance SYRUP | −33.93% | −0.03 pp |
| Bitcoin Cash BCH | −31.44% | −0.82 pp |
| siren SIREN | −28.36% | −0.04 pp |
| Pudgy Penguins PENGU | −20.83% | −0.04 pp |
| LayerZero ZRO | −19.82% | −0.03 pp |
Sectors
| Sector | Contribution | Weight start → end |
|---|---|---|
| Layer 1 | +1.52 pp | 61.54% → 60.52% |
| Exchange | +1.10 pp | 8.11% → 9.25% |
| Memes | −0.65 pp | 8.38% → 7.21% |
| Payments | −0.20 pp | 7.08% → 6.84% |
| Privacy | +1.13 pp | 5.91% → 6.71% |
| DeFi | −0.01 pp | 4.04% → 4.03% |
| Layer 2 | +0.06 pp | 1.90% → 1.94% |
| AI | +0.44 pp | 1.07% → 1.46% |
| Oracles & Infra | −0.02 pp | 1.10% → 1.05% |
| Other | +0.15 pp | 0.71% → 0.85% |
| Gaming & Metaverse | −0.01 pp | 0.15% → 0.14% |
Contributions are in percentage points of the C100 return and add up to it.
Rebalance on Jun 1, 2026
One-way turnover 4.27%, 100 constituents. All rebalances
| Asset | Before | After | Cap |
|---|---|---|---|
| Ethereum ETH | 12.02% | 14.24% | capped |
| Bitcoin BTC | 13.05% | 14.24% | capped |
| BNB BNB | 7.99% | 7.12% | capped |
| Hyperliquid HYPE | 5.18% | 4.50% | capped |
| XRP XRP | 6.68% | 7.12% | capped |
| Stellar XLM | 2.48% | 2.07% | |
| Dogecoin DOGE | 4.11% | 4.50% | capped |
| Zcash ZEC | 2.51% | 2.37% | |
| Solana SOL | 5.40% | 5.27% | capped |
| Cardano ADA | 2.42% | 2.29% | |
| Canton CC | 1.70% | 1.60% | |
| Chainlink LINK | 1.89% | 1.79% | |
| TRON TRX | 4.60% | 4.50% | capped |
| Bitcoin Cash BCH | 1.73% | 1.63% | |
| Hedera HBAR | 1.20% | 1.11% |
Concentration
- Top 10 weight
- 66.16%
- Bitcoin + Ethereum
- 28.49%
- Weights set by a cap
- 8
- Constituents
- 100
Target weights after the review.