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Letter

Google Bets On Crypto: Weekly Newsletter #022

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Google & Coinbase team up, the SEC is investigating Bored Ape's creator, and Binance launches a $500M BTC mining project.

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Letter
One Button Capital
October 17, 2022
Oct 17

Welcome to One Button Capital’s newsletter.

Despite the negative CPI results from last Thursday, Bitcoin recorded a 5th consecutive week of inflows according to the digital asset fund flows report. Short-term Bitcoin investment products also saw consistent inflows, indicating a net neutral sentiment among investors.

One Button’s AI, on the other hand, is allocating 65% of its portfolio to crypto, suggesting a slight increase in bullish confidence since last week.

Market update

At the time of writing, Bitcoin is trading at $19,561, or +2.07% from 7 days ago. Ethereum, on the other hand, gained +3.43%. Overall, the market is up by +2.05% at a $956B Mcap.

Data from Oct 17, 2022, at 16:30 UTC via Messari.io.

Latest news:

Binance Launches a $500M Project For Bitcoin Miners

Binance Pool has launched a $500M lending project for both private and public miners. The miners will be required to put up security in the form of physical or digital assets for the loan, which will last 18–24 months.

The company is the most recent addition to the growing list of alternative lenders looking to provide capital to the struggling mining industry.

Google and Coinbase Partner up to Allow Users to Pay With Crypto

Beginning early next year, Google has partnered with Coinbase to enable certain customers to pay for cloud services with cryptocurrency.

This partnership with Coinbase will bring developers one step closer to Google Cloud CEO Thomas Kurian’s goal of making Web3 development faster and easier.

US SEC Investigates Bored-Ape’s Yuga Labs Unregistered Offerings

The SEC is investigating Yuga Labs Inc., creator of the popular Bored Ape Yacht Club NFTs, over whether its digital asset sales violate federal law. The SEC is examining whether certain nonfungible tokens from the Miami-based company are more like stocks and should follow the same disclosure rules, a source said.

Other news

Our research

Read the September One Button Capital Report here.

Crypto market overview and in-depth research on the trading automation sphere. Comparison of over 14 trading bots in 2021–2022.

Other articles

How AI Took Over The Financial World
15 Crypto Funds 2021–2022 Performance
World’s Richest Gamblers (Investors)
AI Trading Bot Patterns & Behavior

One Button performance

Aggregated return of OB Capital vs. BTC and ETH

In another consolidation week, Bitcoin (BTC) has traded down by -1.50%, while Ethereum (ETH) lost -2.26%. One Button Capital remained at -1.23%.

Aggregated return for 7 and 30 days, measured on Oct 16 23:59 UTC. Source: OB Capital Stats

Top trading strategy

Astral v2 was the most successful trading AI in the last week with a +0.17% average ROI. The second with -0.13% is Solar, followed by Horizon with -0.83%.

Top-performing AI strategies between Oct 10 00:00 UTC and Oct 16 23:59 UTC. Source: OB Capital Stats

Top-performing market pairs

Elrond (EGLD) and Quant (QNT) continue to rise, providing opportunities for OB Capital’s strategies. Performer v2 profited by approximately +6.80% on both of them in the USDT pairs, while Horizon returned +5.86% on CAKE: USDT.

Best market pairs and used strategy between Oct 10 00:00 UTC and Oct 16 23:59 UTC. Source: OBC Stats

Product updates

October 15, 2022
- New functionality allowing users that have expired account invitation links to easily request a new one

October 14, 2022
- Resolving issues with miss-calculation for MDD and market MDD

October 13, 2022
- Improving order handling for Crypto.com
- Resolved FTX issue with stop-loss orders that randomly trigger at the wrong prices

October 8, 2022
- Resolved Binance.US bug that didn’t allow certain stop-loss orders to be found

Final word

The cryptocurrency market remains stagnant, but leading technology companies are increasing their investments in Blockchain and Web3 products. While regulations may appear to have a negative impact in the short term, they will help more institutional entities enter the industry and increase its stability and prevent another Crypto Domino Effect.

Discuss these and other crypto news on One Button Hub.

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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