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Letter

Crypto Spring Finally Here? Weekly Newsletter #013

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Bitcoin and Ethereum try to break through, BlackRock launches a private BTC trust and Monero with a technological upgrade.

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Letter
One Button Capital
August 15, 2022
Aug 15

Welcome,

The cryptocurrency market enjoyed a prosperous week following news that inflation is moderating. The U.S. Consumer Price Index remained unchanged from June to July, providing investors with some relief.

In addition, Ether surged to a two-month high following the successful completion of final testing for the Ethereum upgrade scheduled for the following month.

Market update

Bitcoin had a strong week and briefly traded above $25,000 for the first time since June before dropping back to $24.213. Ethereum, on the other hand, reached $2.010 at one moment and is currently up by +7.49% since 7 days ago.

The total global market cap of crypto rose by another $3B and the well-known meme coin Dogecoin returned in the top ten list

Data from Aug 15, 2022, at 16:30 UTC via Messari.io.

Latest news:

BlackRock Launches a Private Trust to Give Clients Exposure to Spot Bitcoin

BlackRock, the largest asset manager in the world, has established a private bitcoin trust. BlackRock stated in a statement that despite the sharp decline in the digital asset market, they continue to see significant interest from their institutional clients.

BlackRock considers Bitcoin to be the oldest, largest, and most liquid crypto asset, and the current subject of its clients’ greatest interest.

Robinhood Must Face U.S. Market Manipulation Claims Over ‘Meme Stock’ Rally

Robinhood, a prominent trading platform, will defend itself in court against market manipulation allegations related to the “meme stock” rally.

The proposed class action lawsuit asserts that Robinhood’s decision to restrict the trading of certain securities, such as GameStop and AMC, angered retail investors, shook market confidence, and ultimately led to artificially depressed share prices.

Crypto Mixing Service Blacklisted by Treasury Department for Alleged Use in Laundering

The Treasury Department of the United States has sanctioned the popular cryptocurrency mixing service Tornado Cash for allegedly aiding in the laundering of $7 billion in crypto assets by failing to implement effective controls.

By mixing tokens with a pool of other assets, mixers obscure the trail of funds and conceal the identities of those involved in transactions.

Other news

Our research

Read the OB Capital July 2022 Report on our website or download the PDF here.

The crypto market stabilizes, OB Capital makes +20.96% ROI and we reach record-high inflation.

Other articles

How AI Took Over The Financial World

One Button Capital Investment Thesis

World’s Richest Gamblers (Investors)

DeFi Vs. Regulations. The Good And The Bad.

One Button performance

Aggregated return of OB Capital vs. BTC and ETH

The market rally continues but the crypto winter is not over yet. The aggregated returns of One Button Capital are +4.92% in the last 7 days, and +10.88% in the last 30 days.

Aggregated return for 7 and 30 days, measured on Aug 14 23:59 UTC. Source: OB Capital Stats

Top trading strategy

The most profitable AI trading strategy in the last week was Astral v2 with a +5.87% ROI. A close second is the Performer v2, which enjoyed another profitable week with +5.00% ROI.

Top-performing AI strategies between Aug 8 00:00 UTC and Aug 14 23:59 UTC. Source: OB Capital Stats

Top-performing market pairs

With positive news around the Ethereum merge, both the Ether and Ethereum Classic assets grew for another consecutive week. Our AI trading bots caught the pump on both coins and recorded +14.99% and +11.43% ROI respectively.

The Astral v2 bots managed to do the same thing on the Uniswap-Tether market pair, following the small rally there and returned +10.39%.

Best market pairs and used strategy between Aug 8 00:00 UTC and Aug 14 23:59 UTC. Source: OBC Stats

Product updates

August 15, 2022
- Added an extra field for trade history exports that indicates the ROI of the AI up until that point

August 10, 2022
- Added step-by-step exchange connection tutorials

- Improved exchange connection forms and dialogs to include the needed API permissions for the specific exchange

- Improved dialog for editing exchange connection to include the needed API permissions for the specific exchange

- Improved error detection and handling for the website)

August 6, 2022
- Changed legend labels for the OBvsBTCvsETH chart on the public statistics

Final word

If we accept that we were in the 4th crypto winter until now, it is safe to assume that we have finally entered the crypto spring. With the beginning of this new cycle for the industry, we are looking into the numerous upcoming technological updates across different protocols.

This week, BlackRock’s moves toward crypto investing were the subject of a second major news story. Uncertainty exists as to whether this will be pivotal to the next crypto craze or if it will have more drawbacks.

The exposure of $10 trillion to crypto, however, does sound promising.

Max Yampolsky,
CEO at One Button Capital
ir@onebutton.capital

DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.

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