Welcome,
The development of blockchain technology is vital for the crypto industry, and it is essential that it keeps improving. The crypto winter is not over yet but there are good indicators that we may be close to greener months.
At the time of writing, Bitcoin and Ethereum are trading at a -2.44% and -3.45% loss, respectively, when measured over 7 days.
Despite the drop in the last 24 hours, the market has made good progress to regain some of its lost value in the last 6 months.
It is estimated that a bear market lasts an average of 289 days, and right now we are on day 256, so it is not far-fetched to think that the market may begin a new bull run soon.
Ethereum One Step Closer To The ‘Merge‘. A Potential Final Date Is Announced.
As known as the “Merge,” Ethereum’s much-anticipated switch from proof-of-work to proof-of-stake could happen as early as September 19th.
The information was disclosed when the community director for the Ethereum Beacon chain shared “a planning timeline.” The anticipated date sparked interest from investors and business leaders, which sharply increased the price of Ethereum.
Tesla Has Dumped 75% Of Its Bitcoin Holdings
After its highly publicized purchase of Bitcoin in 2021, Tesla cashed out almost $1 billion worth of BTC in the second quarter of 2022.
In new investor filings, the company revealed a sale that represents 75% of its Bitcoin holdings. The CEO Elon Musk said they are open to acquiring more Bitcoin in the future.
The decision was widely criticized on Twitter by public figures like MicroStrategy CEO and billionaire Bitcoin bull Michael Saylor. The news did not affect BTC’s price a lot but it opened Pandora’s box for accountants, according to a Bloomberg report.
Bitcoin Mining Gets Financed Amid News Of Improved Energy Efficiency
In Q2 2022, Bitcoin mining efficiency increased by 46% year-over-year, and the sustainable power mix reached 59.5%, exceeding 50% for the fifth consecutive quarter. Compared to the previous year, the network was 137% more secure while consuming only 63% more energy.
This significant increase supports the hypothesis that it will become more efficient as the Bitcoin Network grows. In the same week Core Scientific (CORZ), the largest bitcoin (BTC) miner by hash rate, or total computing power, agreed to issue up to $100M in shares to investment bank B. Riley over the next two years to improve liquidity.
Read the OB Capital June 2022 Report on our website or download the 54-page PDF here.
One Button Capital Investment Thesis
Time In The Market Vs. Timing The Market
Aggregated return of OB Capital vs. BTC and ETH
The positive news in the Blockchain development of Ethereum and the energy efficiency in Bitcoin mining was part of why both assets increased in value in the last month.
The road to their previous ATH is still long, but we are slowly moving in the right direction. The aggregated return of OB Capital on the other hand is +11.15% in the last month despite the rapid market swings.
Top trading strategy
With the recent growth in Ethereum, it is not a surprise that Clipper takes the lead this week, as this strategy has been shown to perform exceptionally well during ETH rallies.
The new AI — Explorer maintains its strong performance and is placed closely at second place with +9.04% ROI. Performer v2 returns in the ranking with a solid +6.03%.
Top-performing market pairs
Most of the AI strategies at One Button Capital managed to outperform the market last week again, but several of them stand out. The FTM: BUSD for example saw an average gain of +20.97% on one of our strategies, while the ETH: USDC gained +9.64%.
July 18, 2022
- Resolved issue with the AI bots not appearing in the “Archived” section after being archived
July 13, 2022
- Resolved issue with public statistics not updating on a regular basis
July 11, 2022
- Resolved issues with in-app deposits and withdrawals for OBT
- Added improved caching mechanism for bots
Analyzing the dynamics of the cryptocurrency market is always relevant, but we should not forget that the industry is built on Blockchain technology, and monitoring its growth is also important.
Improvements in the technical part of crypto make it more efficient, accessible, and valuable. The recent Ethereum soar shows that price action does not take long to catch up to the tech progress.
In the spirit of today’s newsletter, I want to remind you that in the next five days, One Button will be present at the Singapore Blockchain Week.
Furthermore, at the beginning of next month, we will have a booth at the Bali Blockchain Ecosystem Conference, and I will be one of the speakers. If you happen to be in Ubud, Bali on August 4, you are more than welcome to join.
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.
We regularly prepare insightful reports and case studies about crypto trading and the blockchain industry.
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