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Letter

$10 Trillion Exposed To Crypto. Weekly Newsletter #012

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BlackRock joins crypto, Solana gets hacked for $5M, and Bitcoin's biggest maxi steps down as CEO.

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Letter
One Button Capital
August 8, 2022
Aug 8

Welcome,

Crypto continues its march towards the Promised Land as we see another small increase in prices across the whole market. With Ethereum’s testnet just around the corner, some experts are predicting up to $10,000 per Ether in the near future.

Personally, I do not like to speculate on prices, but rather leave it all to the AI. Doing so in the past two years has been a success, with this July being the best month in the current bear market.

You can read our freshly released Report for a full breakdown of the performance. Inside you will also get an economic update on the cryptocurrency, stock, and gold markets; a guide on how to read your trading bot’s charts; and in-depth research on three topics.

Market update

The global market cap for crypto grew by over $110B in the last week, with Bitcoin (BTC) losing 3.76% of its stake — showing a proportionately bigger inflow towards altcoins.

BNB and Polkadot are the two largest gainers in the last 7 days with a +14.69% and +12.38% ROI, respectively. Even the recently hacked Solana gained +2.05%.

Data from Aug 8, 2022, at 16:30 UTC via Messari.io.

Latest news:

BlackRock Joins Crypto: Signs Deal With Coinbase

Coinbase shares increased by 30% after the exchange announced a partnership with BlackRock that will allow its institutional clients to purchase bitcoin. Coinbase will offer cryptocurrency trading, custody, prime brokerage, and reporting services.

With more than $9.6 trillion under management, BlackRock is the world’s largest asset manager. The inflow to the crypto market can have a very positive effect, but it is also important that big institutions do not acquire a very large stake.

Bitcoin’s Biggest Maxi Steps Down From CEO Role

Michael Saylor, CEO of Microstrategy, has stepped down to focus on the acquisition of bitcoin. To dispel rumors that he was forced to leave due to a failed strategy, Saylor stated that the price of bitcoin has increased by 94% since Microstrategy implemented its bitcoin strategy in 2020.

In a Cryptocurrency Heist, Hackers Steal $5M and Compromise 8,000 Solana Wallets.

An attack on the Solana ecosystem compromised thousands of Solana-based wallets and stole approximately $5M in assets. According to the Solana team, the addresses compromised in the hack were linked to the crypto wallet app Slope, where users’ private keys were exposed. Your keys have not been compromised if you use a hardware wallet.

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

AI Portfolio Management Tech

One Button Capital Investment Thesis

Investing During A Crypto Bear Market

Time In The Market Vs. Timing The Market

One Button performance

Aggregated return of OB Capital vs. BTC and ETH

Bitcoin faced a slight drop during the observed period, but overall it is still on track to keep its July momentum. On the other hand, Ethereum does not look like stopping any time soon and is on a serious rally towards the $2,000 mark.

One Button Capital returned +1.86% last week and is on a +10.55% spree in the last 30 days. In the last 90 days, OBC returned +8.06%, while BTC and ETH lost -25.29% and -27.41%.

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

Top trading strategy

With the start of a bull run, there is no way that the Clipper AI strategy will stay behind. The specifically designed for uptrends trading robot managed to return a +1.84% gain in the last week (averaged for all bots created under the strategy).

Top-performing AI strategies between Aug 1 00:00 UTC and Aug 7 23:59 UTC. Source: OB Capital Stats

Top-performing market pairs

This week we have some unusual market pairs in the top two positions of the ranking. Thanks to surging NFT volumes, AVAX jumped by more than +15%. The Performer v2 strategy was successful in catching the trend and recorded an average of +16.13% in the market pair.

Best market pairs and used strategy between Aug 1 00:00 UTC and Aug 7 23:59 UTC. Source: OBC Stats

Product updates

August 5, 2022
- Resolved issue with unsuccessful redirects to the login page after getting expired in-app session

August 2, 2022
- Resolved issue with the chart that visualizes the bot’s trades over time (moving buy/sell arrows when changing timeframe)

August 1, 2022
- Improved trades execution speed for Binance.US

Final word

Crypto is finally returning to normal, and we are looking forward to seeing how the big technological updates will impact the market in August and September. Having institutions from the rank of BlackRock join in on the ride gives us a good sign as well.

Several companies being hacked even today raises concerns about the market’s ability to scale to previous heights, but my participation in two recent Blockchain conferences instills me confidence that we will form a better foundation for the new Web3 economy.

Let this Crypto Domino Effect be the last of its kind.

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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