As Lead Research Analyst Gabe Selby points out, despite all digital asset categories remaining in the red throughout the quarter, as reflected by negative returns for our regulated crypto portfolio indices, scaling protocols were relatively defensive.
Watch to find out which one fared best ★ What that has to do with the definitive DeFi milestone for JPMorgan Chase & Co. in the quarter ★ And why fading Ether dominance of the BTC/ETH ratio helps set up the best conditions we’ve got (for now) for more constructive price action in the current quarter.
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Downside Beta moved from last place to first this week, gaining 3.2% as Size gave back its lead to -0.9% and the Market cooled to +1.2% after an 11.2% run. The swing narrowed the factor spread to 4.3 points from 15.8 the week before, a rotation toward defense inside an otherwise positive market.

Mark Pilipczuk
The CF Free-Float Broad Cap Index rose 28.84% in August as the debasement trade carried Bitcoin toward $80,000 and lifted nearly every corner of the digital asset market with it.

Mark Pilipczuk
The Administrator has confirmed changes to the Token Market Price Family for the period 25 August 2026 to 01 September 2026.

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