Welcome,
The current market sentiment in crypto remains split between those who fear we are in a “bull trap” and those who think we have already bottomed up.
Leading on-chain specialists also jumped in with advanced data analysis.
Glassnode reported that the recent surge in the price of BTC, reaching the $21k to $23k range, has involved reclaiming multiple on-chain pricing models with a historically signified change in behavior patterns among holders.
Additionally, Glassnode’s analysts found that the duration of the current bear market is similar to that of the 2018–2019 bear market, suggesting an equivalency in the level of pain experienced during the “darkest phases of both bear markets.”
Yet, nothing is still decisive, so paying attention to these and other on-chain trends is critical for knowing where we are in the current cycle.
At the time of writing, the global crypto market cap sits at $1.08T, with BTC leading the way at $23,033 (+9.74% from 7 days ago). The largest gainer in the leading digital assets remains SOL, with a +148.49% gain since the start of the year, while DOT gained +15.84% last week.
Aave V3 Ethereum Mainnet Governance Proposal Is Up For Vote
Aave, a decentralized lending platform, has announced the commencement of voting on the Aave Ethereum V3 governance proposal, which aims to activate Aave V3 in the Ethereum pool. The proposal received overwhelming support on Oct 11, 2022, and addresses of Aave Ethereum V3 are available in the Aave-address book.
The V3 version offers increased levels of compatibility and reduces complexities experienced in V2. The voting process began on Jan 23, 2023, and will close on Jan 26, 2023.
US Government Sends Message On Crypto Crime With Enforcement Action
The US Department of Justice announced on Jan 18, 2023 that it would be holding a live press conference to announce an “International Cryptocurrency Enforcement Action.”
That caused short panic in the crypto, with BTC and ETH falling 5% in just a few minutes.
However, the press conference revealed that the target of the enforcement action was Hong Kong-based, Russian-owned crypto exchange, Bitzlato, accused of processing more than $700M in illicit funds, including millions in proceeds from ransomware.
While the crypto community laughed, the U.S. government wanted to make it crystal clear that it is aware of crypto crimes and is taking decisive action, especially in the aftermath of the collapse of FTX.
Fantom Releases On-Chain Vault to Support Ecosystem Projects
The Fantom foundation announced the launch of its ecosystem vault to empower builders and support ecosystem initiatives. In a recent announcement, the protocol stated that the vault provides a decentralized, community-driven method for funding projects.
Fantom stated, “The Vault is a new fund designed to empower builders on Fantom by providing a decentralized channel for funding projects, ideas, and creations through a community-driven decision process.” Additionally, the team intends to operate the vault as an on-chain fund and will finance it with 10% of its network’s transaction fees.
Read our latest research articles in one click.
Aggregated return of One Click Crypto vs. BTC and ETH
The crypto market continued surging, with BTC gaining +8.64% in the last calendar week, while ETH grew by +4.91%. The aggregated returns of all One Click Crypto trading strategies grew to +13.43% for the last 30 days with a 7 days return of +3.16%.
Top trading strategy
Performer v1 and Explorer remain the dominant AI strategies at One Click Crypto, with the former bringing an average ROI of +3.93% in the last week. At a close third place, Solar brought +3.53% ROI during the same time period.
Top-performing market pairs
The three most profitable market pairs last week were CRV:USDT (+23.01%) for P1, FTM:USDT (+21.80%) fpr Explorer and CRV:EUR (+20.52%) for P2.
While the crypto community debates whether we are at the market’s bottom or in a bull trap, in the US, Democrats are pushing to remove the debt ceiling, allowing unlimited government borrowing. The US government hit the $31.381T debt ceiling last week…
In the meantime, Web3 keeps growing and building solutions to combat the flawed TradFi systems. The TVL in DeFi is up by over $9Bn since the start of the year, and even the most giant bears are slowly turning bullish with each day.
Max Yampolsky,
CEO at One Click Crypto
ir@oneclick.fi
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.
We sent you a link to complete your sign-up.
Check your inbox, verify your email, and unlock all functionalities of your OB Trader account.
.png){kind=logo}
You were added to our waitlist. You will get an email within 3-5 days If you are shortlisted.
.svg)
%201.svg)
