Monera Digital | May 2026 Fund Monthly Report: Steady Growth Against the Market, AUM Reaches New High

1. Market Review: Stalled Liquidity Transmission, Crypto Markets Weaken Independently 

In May 2026, macroeconomic factors continued to dominate market pricing. The combined pressures of geopolitical tensions, rebounding inflation, and the Federal Reserve's policy expectations weighed on overall risk asset performance, with the crypto market's absorptive capacity significantly diminished.

This month, the crypto market experienced a textbook case of "failed liquidity transmission." In the first half of the month, inflation data came in stronger than expected, pushing back expectations for Fed easing, shifting asset pricing weights back to macroeconomic narratives, and continuously pressuring risk assets. Towards the end of the month, despite signs of a geopolitical thaw with falling US Treasury yields and oil prices providing tailwinds, the crypto market refused to embrace the macro easing, ultimately turning from gains to losses. This exposed the brutal reality of accelerated deleveraging during a cycle-level deep bear market.

In terms of price action, BTC briefly touched $82,850 at the beginning of the month but subsequently trended downwards, closing the month at $73,674. ETH performed even weaker, with the ETH/BTC ratio hitting a low of 0.02675, experiencing significantly larger declines than BTC. BTC dominance remained high, liquidity for altcoins continued to shrink, and the total market cap corrected overall.

On the capital flow front, the defining characteristic of the month was a "severe internal capital hemorrhage": BTC spot ETFs completely reversed the net inflows seen in April, recording a massive net outflow of $2.425 billion for the month, the third-largest single-month outflow in history. ETH ETFs also experienced significant capital flight. Concurrently, Coinbase showed a severe negative premium, and both on-chain short-term and long-term holder MVRV and SOPR indicators fell below the breakeven point, presenting a classic pattern of capitulatory selling.

Looking ahead, BTC has effectively broken through MicroStrategy's cost basis of approximately $75,500, with $71,400 now serving as the final cycle-level defense line. Bottom-fishing in the short term carries extremely high risk. A true stabilization and recovery do not depend on a single day's improvement in macro indicators but require a clear reversal in ETF flows and an end to on-chain capitulation signals. If leading US AI stocks suffer a catastrophic collapse or if BTC reserve companies like MicroStrategy are forced to sell due to falling below their cost basis, triggering a chain of deleveraging, the crypto market could face significant panic risk. Investment caution is paramount, with risk management taking priority.

2. Fund Data: Robust Growth Against the Trend, AUM Reaches New Highs 

Against the backdrop of overall market pressure, Monera Digital's funds continued to record positive growth in May 2026, with key performance indicators showing impressive results.

As of the end of May, the fund's total Assets Under Management (AUM) reached $14.82 million, a net increase of approximately $2.9 million from $12.13 million at the beginning of the month, achieving a monthly growth rate of 22.17%. New capital inflows for the month amounted to $2.1308 million. Since its inception, the fund's AUM has grown from an initial $1 million in January 2026, experiencing five consecutive months of growth—surpassing $3.33 million in February, jumping to $6.78 million in March, breaking through $12.13 million in April, and reaching a new high of $14.82 million in May. This represents a cumulative growth of nearly 15 times in five months, fully demonstrating the stability of the strategy and sustained capital appeal.

In terms of returns, the fund's realized APY was 16.23%, while its weighted average APY was an even more impressive 58.71%. This performance is rare in the current market environment, consistently delivering stable returns that outperform the market for investors.

3. Asset Allocation: Diversified Portfolio, Active Trading as the Core Driver 

This month, the fund's total asset size was $14.82 million, allocated using a diversified strategy. Proactive Trading, the core source of fund returns, had an allocation of $9.8794 million, representing 66.7% of total AUM and serving as the main engine driving overall performance. Quantitative Trading was allocated $3.8573 million, accounting for 26.0%, effectively complementing the active trading strategy to build a multi-dimensional return system. Venture Investing received an allocation of $1 million, representing 6.7%, focusing on early-stage investments in high-quality projects. Other Assets totaled $83,424, serving as supplementary allocation.

With active trading as the main axis, complemented by quantitative strategies and early-stage investments, the overall allocation structure effectively balances return generation and risk control against the backdrop of heightened market volatility.

4. Conclusion 

Despite the challenging environment for the broader crypto market in May 2026, characterized by significant net outflows from ETFs, Monera Digital's fund achieved a sequential growth of 4.61% and a cumulative weighted APY of 58.71% through its diversified strategy allocation and strict risk management framework, continuing to generate excess returns for investors. Looking ahead to June, the team will prioritize risk management while closely tracking ETF flows, on-chain data recovery signals, and macroeconomic policy changes, adjusting portfolio structure as appropriate to seize the asymmetric opportunities presented by the cycle's bottom.

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This report is prepared by the Monera Digital trading team for informational purposes only and does not constitute investment advice.