Unit Value and Return Rate
Historical NAV of XMM unit, measured in different currencies:
| (exchange rate)^ | |||||
| XMM/XRP | XMM/USD* | XMM/BTC* | USD/XRP | BTC/XRP | |
| 28/02/14 | 1.000 | 0.01420 | 0.00002481 | 70.44 | 40,300 |
| 31/03/14 | 1.426 | 0.01306 | 0.00002755 | 109.14 | 51,761 |
| 30/04/14 | 2.590 | 0.01370 | 0.00003103 | 188.98 | 83,466 |
| 31/05/14 | 3.084 | 0.01243 | 0.00002057 | 248.08 | 149,903 |
| 30/06/14 | 3.433 | 0.01312 | 0.00002153 | 261.65 | 159,415 |
| 31/07/14 | 2.675 | 0.01397 | 0.00002390 | 191.50 | 111,912 |
| 31/08/14 | 3.024 | 0.01486 | 0.00003013 | 203.50 | 100,336 |
| 30/09/14 | 3.164 | 0.01512 | 0.00003922 | 213.88 | 82,941 |
* Calculated based on the exchange-rates listed on the right columns.
^ exchange-rates are vwap of IOU.Bitstamp on the last day of each month (source: ripplecharts.com).
Return rate, measured in different currencies:
| ~XRP | ~USD | ~BTC | average | |
| Mar-2014 | 42.6% | -8.0% | 11.0% | 15.2% |
| Apr-2014 | 81.6% | 4.9% | 12.6% | 33.0% |
| May-2014 | 19.1% | -9.3% | -33.7% | -8.0% |
| Jun-2014 | 11.3% | 5.5% | 4.7% | 7.2% |
| Jul-2014 | -22.1% | 6.5% | 11.0% | -1.5% |
| Aug-2014 | 13.0% | 6.4% | 26.1% | 15.2% |
| Sep-2014 | 4.6% | -0.4% | 26.6% | 10.3% |
| 3-months ended Sep | -7.8% | 12.7% | 77.1% | 27.4% |
| 6-month ended Sep | 121.9% | 13.2% | 38.5% | 57.8% |
Review and Comment:
During the month, NAV of our fund appreciated 4.6% against XRP and 26.6% against BTC, but depreciated 0.4% against USD. The average return rate was 10.3%, which is in-line with our internal target of return rate.
XRP price was quite stable throughout the whole month. The poorer return rate compared to previous month was mainly due to the continuous fall of BTC price (about one third of our asset was allocated for BTC markets). And somehow our bots seems perform poorer when there's a directional trend in exchange-rates.
The Fund recorded an average return of 27.4% for 3-month period, and 57.8% for 6-month period ended September-2014.
XMM's Contribution to Liquidity
(followings figures was the trading data during 24th-Sep ~ 30th-Sep.)
BTC/XRP and BTC/USD markets:
| XMM Trade Volume | % of Total volume | |
| BTC.Bitstamp / XRP | BTC 9.72 | 0.34% |
| BTC.SnapSwap / XRP | BTC 11.10 | 1.21% |
| BTC.JustCoin / XRP | BTC 2.41 | 2.33% |
| BTC.TheRock / XRP | BTC 0.90 | 5.18% |
| BTC.Bitstamp / USD.Bitstamp | BTC 2.95 | 1.02% |
| BTC.Bitstamp / USD.SnapSwap | BTC 4.43 | 7.80% |
| BTC.SnapSwap / USD.Bitstamp | BTC 3.25 | 9.89% |
| BTC.SnapSwap / USD.SnapSwap | BTC 6.02 | 5.04% |
| BTC.JustCoin / USD.Bitstamp | BTC 0.67 | 2.38% |
| BTC.JustCoin / USD.SnapSwap | BTC 0.93 | 3.03% |
| BTC.Bitstamp / CNY.RippleChina | BTC 4.41 | 22.37% |
| BTC.Bitstamp / CNY.RippleCN | BTC 2.06 | 28.66% |
| BTC.SnapSwap / CNY.RippleChina | BTC 0.52 | 9.62% |
| BTC.SnapSwap / CNY.RippleCN | BTC 1.89 | 30.06% |
Fiats/XRP and Fiats/USD markets:
| XMM Trade Volume | % of Total volume | |
| USD.Bitstamp / XRP | USD 4,118 | 0.57% |
| USD.SnapSwap / XRP | USD 4,859 | 1.90% |
| CNY.RippleChina / XRP | CNY 41,375 | 3.31% |
| CNY.RippleCN / XRP | CNY 37,205 | 2.37% |
| EUR.SnapSwap / XRP | EUR 2,152 | 12.02% |
| EUR.TheRock / XRP | EUR 470 | 5.62% |
| NZD.Coinex / XRP | NZD 0 | 0.00% |
| MXN.Bitso / XRP | MXN 226 | 36.61% |
| USD.LakeBTC / XRP | USD 30 | 50.00% |
| USD.Bitstamp / CNY.RippleChina | USD 2,705 | 4.27% |
| USD.Bitstamp / CNY.RippleCN | USD 2,599 | 2.89% |
| USD.SnapSwap / CNY.RippleChina | USD 2,383 | 15.60% |
| USD.SnapSwap / CNY.RippleCN | USD 1,466 | 7.34% |
| USD.Bitstamp / EUR.SnapSwap | USD 379 | 17.24% |
| USD.SnapSwap / EUR.SnapSwap | USD 2,405 | 11.39% |
| USD.Bitstamp / EUR.TheRockTrading | USD 358 | 45.25% |
| USD.SnapSwap / EUR.TheRockTrading | USD 536 | 34.62% |
| USD.Bitstamp / NZD.Coinex | USD 0.04 | 50.00% |
| USD.SnapSwap / NZD.Coinex | USD 9.68 | 8.61% |
| USD.Bitstamp / MXN.Bitso | USD 0.08 | 1.90% |
| USD.SnapSwap / MXN.Bitso | USD 2.07 | 10.61% |
Metals markets:
| XMM Trade Volume | % of Total volume | |
| XRP / XAU.GBI | XRP 227,448 | 23.41% |
| XRP / XAU.RippleSingapore | XRP 0.00 | 0.00% |
| XRP / XAG.RippleSingapore | XRP 6,186 | 2.67% |
| USD.Bitstamp / XAU.GBI | USD 217 | 7.42% |
| USD.SnapSwap / XAU.GBI | USD 344 | 6.06% |
| USD.Bitstamp / XAU.RippleSingapore | USD 0.00 | 0.00% |
| USD.Bitstamp / XAG.RippleSingapore | USD 53.4 | 12.73% |
All data above were obtained through queries with RippleCharts API.
Units and Holders Analysis
| Unit in Circulation | |
| 28/02/14 | 111,042 |
| 31/03/14 | 167,198 |
| 30/04/14 | 245,885 |
| 31/05/14 | 424,209 |
| 30/06/14 | 479,689 |
| 31/07/14 | 455,570 |
| 31/08/14 | 314,068 |
| 30/09/14 | 346,730 |
| Statistic of holders on 30th-September | |
| < 10 unit | 19 |
| [10 – 100) | 9 |
| [100 – 1000) | 17 |
| [1k – 10k) | 17 |
| >= 10k | 9 |
| TOTAL | 71 |
Unit-in-circulation increased by ~33k or ~10% as compared to end-of-August. The new-issues/redemption prices quotes by hotwallet was maintained at ~5% spread through out the whole month of September.
Others
During September, we had initiated our support for MXN.Bitso, USD.LakeBTC and XAU.GBI.
We had also expanded our BTC/Fiats support to CNY, and had now become a major liquidity provider in BTC/CNY markets.
