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November 2022: One Click Crypto Report

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One Click Digest. Crypto market summary, DEX Trends, Future of Web3, AI asset management, and 1CC’s 2023 roadmap.

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One Button Capital
December 7, 2022
Dec 7

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November 2022 was undoubtedly one of the most historically significant months in crypto. This year’s misfortunes highlighted the holes in crypto and what needs to be rebuilt in the next months for the industry to rise again to its former status as the future of money.

Key points from this month’s report:

  • Market Summary of November 2022
  • DeFi, Stablecoins, DEX’s Statistics
  • AI In Cryptocurrency Trading: The Big Picture
  • One Click Crypto AI Performance
  • One Click Crypto: Vision for 2023
  • Product Updates
  • Final Word

Part 1: Market Summary

Data from 12+ independent sources, synthesized for the One Click Crypto reader.

1.1 Cryptocurrency Market

In November, the cryptocurrency market lost over $153.61Bn of its market cap, with most of the losses coming immediately after the collapse of the FTX exchange. The rapid downflow saw FTX’s native token, FTT, devalue by over -78.12% in 24 hours. Over $1.80Bn worth of Bitcoin was taken out of centralized exchanges.

Total cryptocurrency market cap for November 2022 (taken on Nov 30 at 23:59 UTC). Source: TradingView

Top 10 cryptocurrencies

Solana (SOL), a top 10 crypto coin at the beginning of the month, dropped by -57.62%, while Cardano (ADA) kept its ninth position after losing -21.06% from its price. Polygon (MATIC) was one of the few gainers with a modest +2.94% price increase in November.

Overall cryptocurrency performance for November 2022 (taken on Nov 30 at 23:59 UTC). Source: CoinCodex

Historical Bitcoin Performance

This year’s November was the third worst in BTC’s history. For December, the average ROI is +5.70%, with Bitcoin dropping by -18.90% in the final 31 days of 2021.

Bitcoin monthly returns throughout the years. Source: CoinGlass

Bitcoin in November 2022

Bitcoin opened in November at $20,493 and was up by +4.78% in seven days, up to $21,473. Then on Nov 5, the disaster for FTX began, seeing the exchange go from $32Bn to bankrupt. Bitcoin led the downfall of the whole cryptocurrency market, dropping by -27.20% to $15,632. For the rest of the month, BTC traded in a narrow range between $15,600 and $17,300, ending November at $17,166.

Chart of Bitcoin’s price history between Nov 1 — Nov 30. Source: TradingView

BTC Perpetual Futures Funding Rate

In November, BTC perpetual futures funding rates tended to be in and dropped to record negative territory, indicating a tilt toward short positioning.

Source: Crypto.com November Alpha Navigator

1.2 DeFi, Stablecoins, DEX’s

Total value locked in DeFi:

In November, the total value locked (TVL) in DeFi went down from $54.69Bn to $42.56Bn (-22.17%).

Source: DefiLlama

One of the largest losers was Solen (SLND), a Solana chain lending protocol that dropped by -90.10%, erasing over $286.71M of its value after a whale got liquidated during FTX’s collapse.

Source: DefiLlama

On the other side of the spectrum, there were several big gainers, including Cashflow (DEX), Silo Finance (Lending Platform), and Shell Protocol (DEX).

Source: DefiLlama

Bridge Volume in all bridges (October and November):

Decentralized bridge volume jumped in November, reaching a daily peak of $1.46Bn on Nov 19. The total monthly volume, according to DefiLlama, was $8.06Bn, which is an +115.72% increase from October.

Source: DefiLlama

Total Funding Rounds

More than $1.05Bn were raised for DeFi projects in November. That is shy of the year’s high from March of $3.56Bn, but still shows investors’ interest in the Web3 space even with all the FUD that overwhelms the media daily. Last month, one of the largest fund rounds was that of Veax, a DEX on NEAR that raised $1.2M Pre-seed.

Stablecoins Circulation

The Ethereum blockchain remained the preferred network for stablecoin transactions in November. At a share of 41.27%, USDC was the dominant stablecoin on the ETH chain.

Source: DefiLlama

1.3 Centralized Exchanges

Centralized exchanges (CEX) remain the top way for investors to buy and sell cryptocurrencies. After FTXs mishandle customers’ funds, transparency grows as the number one priority of CEXs. Binance pivoted the way of making it a practice to provide monthly Proof-of-Reserve stats to ensure that the exchange is liquid.

Kraken’s ex-CEO Jesse Powell critiqued the initiative, calling it “useless” if exchanges fail to provide a full list of both assets and liabilities. Nonetheless, this is a step in the right direction for Web3.

Glassnode introduces Proof-of-Reserve Exchange Metrics.

Glassnode introduces an array of proof-of-reserve metrics to easily monitor the balances of exchanges’ on-chain reserves held in self-reported addresses. As of Dec 6, eleven major exchanges have (partially) disclosed addresses: Binance, Bitfinex, BitMEX, Bybit, Crypto.com, Deribit, Huobi, KuCoin, OKEx, SwissBorg, and CheckSig.

BTC Record Largest Outflows from Centralized Exchanges

With net outflows of -91,557 BTC in November, BTC experienced the largest negative flows from CEXs in its history, according to CryptoCompare data.

1.4 Macroeconomic Outlook

S&P 500 vs. Nasdaq vs. Dow Jones (vs. Crypto)

In November, the US economy grew by an average of %%%, according to the S&P, NASDAQ, and Dow Jones indices.

Chart of SP500’s price history between Nov 1 — Nov 30. Source: Google Finance

However, the challenge for cryptocurrencies is whether they can overcome the negative sentiment following the collapse of FTX and its aftermath. The negative correlation between cryptocurrencies and equities marks a departure from the lockstep movement that has persisted for most of this year.

BTC vs. S&P 500 Correlation. Source: Crypto.com

Commodity Markets

In November 2022

  • Energy prices dropped -by 4.5%, led by coal (-12.2%) and natural gas in Europe (-8.5%).
  • Non-energy prices gained +0.7%.
  • Agricultural prices declined -by -0.4%.
  • Food prices eased -0.1%, with grains dropping by -3.9%.
  • Beverage prices dropped by -5.2%, while raw materials increased by +2.1%.
  • Fertilizer prices declined by -5.8%.
  • Metal prices gained +5%, led by nickel +16%, tin +9.6%, and copper +5.2%.
  • Precious metals increased by +4.4%.

Source: WorldBank.org

Gold:

In November, Gold gained traction as the weakening of the US dollar led investors to rely on the time-tested inflation hedge. At the end of the month, Gold was trading at $1,773.42 per ounce (+7.68% monthly gain).

Source: BullionVault

This marks the lowest point of the year for the Bitcoin/Gold correlation at 9.7722.

Source: Longtermtrends

Part 2: Research

2.1 AI In Cryptocurrency Trading: The Big Picture

Blockchain technologies and decentralized networks have revolutionized our perception of how money works. Transferring funds, paying taxes, and even getting a cup of coffee at Starbucks will never be the same again.

The possibilities are limitless, and the best part is that everyone gets a fair shot! With the rise of DeFi, a completely new exchange market has developed amid DEXes (Decentralized Exchanges).

Read article

2.2 More Research

The Greatest Cryptocurrency Trades and Their Success Stories
Top 7 Artificial Intelligence Investments For The 2023 Recession
AI Crypto Trading Bot With 100% Accuracy
Top 5 Crypto Trading Bots For November 2022: Performance Review
Can AI Trading Bot Beat ETH By +0.23% Daily?
AI Trading Bot: Understanding Its Behavior And Decision-Making Patterns
15 Crypto Funds 2021–2022 Performance
How Computers Became Better Wealth Managers Than Humans
Will Regulations Kill Decentralized Finance Or Save It?
World’s Richest Gamblers (Investors) — Making Billions With Mathematics
How Did AI Respond To The Terra (LUNA) Meltdown?
The Impact Of Inflation On The Cryptocurrency Market
Time In The Market Vs. Timing The Market: Why Even Long-Term Holders Lose Money In Crypto
Investing During A Bear Market: How To Not Lose Your Money In Crypto
Can Bitcoin Solve The Money Problem? Why Money Is Dead.
DeFi Trends In 2022 Web3. Is The Future Of Finance On The Blockchain?
Should You Invest In Funds? Real State Of Wealth Management Market in 2022.
What Strategy Saves The Most Money During a 50% Ethereum Drop?
Making Money In Crypto: 10 Proven Tactics For Effective Cryptocurrency Investing.
AI/ML In 2022. Why investing in tech projects will set you apart for a lifetime.
AI In Cryptocurrency Trading: The Big Picture
Can AI Outperform The Bear Market?

Part 3: One Click Crypto AI Performance

3.1 Long-term Performance

One Click Crypto kept its edge over Bitcoin (BTC) and Ethereum (ETH) over the last six months, while the top two cryptocurrencies lost over -30% of their price each.

The average return of all active 1CC strategies for the last 1,3, and 6 months, as of November 30, 2022. Source: 1CC app

3.2 Best-Performing AI Strategies In November 2022

November’s best-trading AI strategies at One Click were Horizon at -4.14% and Solar at -4.38%. Both bots have a track record as good risk management tools.

Table of the net return of the top 3 AI strategies at 1CC in November 2022. Data Source: 1CC app

3.3 Best-Performing Market Pairs In November 2022

Profits are possible even during a crypto recession. The Performer v2 strategy proved it by gaining +19.67% in FTM: USDT and +17.23% in LTC: BUSD. Horizon was profitable in LINK: BUSD with +13.30% ROI.

November 2022 return of the best-performing market pairs and the strategy used for them. Source: 1CC app

3.4 Historical Track Record

Outperforming Bitcoin

One Click Crypto vs. BTC Jan 15, 2021 — Nov 30, 2022. Source: 1CC Internal Stats

The graph focuses on the average performance of all BTC trading strategies on One Click Crypto. The AI-managed BTC outshines the underlying asset by +66.07% over 22 months, showing a positive long-term trend.

One Click Crypto’s long-term results against Bitcoin:

1CC: +10.24% | BTC: -55.83%

Outperforming Ethereum

One Click Crypto vs. ETH Jan 14, 2021 — Nov 30, 2022. 1CC Internal Stats

The AI-managed Ethereum strategy outperformed ETH by +149.37% over 22 months, with an even stronger long-term projection trend than Bitcoin.

One Click Crypto’s long-term results against Ethereum:

1CC: +154.60% | ETH: +5.23%

Part 4: Company News

4.1 One Click Crypto: Vision for 2023

As we move toward the One Click DeFi products and 1CC token launch, it makes sense to recap what we have already achieved and where we want to go… Read the full report.

4.2 Lithium Partnership

One Click Crypto is partnering with Lithium, a platform where you can earn rewards by completing various tasks called missions. The rewards are still available on our Lithium page.

4.3 $1,000,000 Airdrop for OBT Holders

For its upcoming 1CC token launch, One Click Crypto will allocate $1,000,000 worth of its supply to OBT holders. A total of 2,857,142.857 1CC tokens based on their public sale price of $0.35 will be airdropped to all holders of OBT.

4.4 One Click Crypto Events

After One Click Crypto’s campaigns in Singapore, Bali, and Dubai, it was time for the company to return to its home continent, Europe. Specifically, One Click was pleased to attend one of the most important Web3 events of the year, TOKEN2049, between Nov 9–10 in London.

Nov 9–10 TOKEN2049 In London

About TOKEN2049 London

TOKEN2049 is a premier crypto event held annually in Singapore and London, where CEOs and founders of the leading Web3 companies share their market insights. TOKEN2049 unites the global crypto industry, bringing together entrepreneurs, investors, developers, industry enthusiasts, and international media, creating unparalleled networking opportunities.

Nov 23–24 Next Block Expo In Berlin

Between Nov 23–24, 2022, One Click Crypto was part of the Next Block Expo in Berlin. The company presented its vision of the future of digital asset management and networked with Web3 entrepreneurs and investors. We presented a pitch deck on the innovative and opportunistic CeDeFi sphere.

One Click’s CEO Max Yampolsky and COO Stoyan Ivanov in front of Next Block Expo, Berlin.

4.5 Product Updates

This Month’s Updates

Updated Help Center portal

This month, we have introduced an updated Help Center portal. This way, all the information about One Click Crypto’s app, AI technology, and billing can be found in one centralized place.

Functionality to archive bots in bulk

We have introduced a feature that was highly requested by some of the One Click Crypto app’s users — a convenient functionality to archive active bots in bulk.

Other Updates

  • Improved infrastructure and increased app availability
  • Successfully transitioned to Crypto.com’s v3 exchange functionalities.
  • Improved data storage mechanism to increase the app’s performance speed
  • Adopted Bitvavo changes related to stop-loss orders and order amount precision
  • New functionality to display the AI diversification expectations when creating an investment portfolio
  • Resolved loading issue related to the ROI and market ROI on the portfolio overview page

Final Word

November showed us that no one is too big to fail. It also taught us valuable lessons on transparency, self-custody, and ineffective funds management. FTX collapse highlighted the flaws of traditional monetary systems and proved that decentralized finance did not fail; we did by refusing to use it as intended.

Markets, businesses, and whole industries go through life cycles. Textbooks refer to them as introduction, growth, maturity, and decline. After it goes through all four, an industry either dies or restarts the process again. In one year, the crypto market lost -73.33% of its value, and now it is in front of a crossroads.

At its current stage, crypto depends on external factors like regulatory compliances and favorable macroeconomic conditions. However, DeFi, by design, is self-sufficient, and as its technology advances, the gap between reaching crypto’s true potential will narrow.

For crypto to rise in 2023, the main product developing focus will be making Web3 applications that interact directly with blockchains while also being user-friendly, secure, and fast. Companies are already making this shift, giving a push to a new technological trend that will drive the industry upwards.

Grow your Crypto with One Click.

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More Posts:

We regularly prepare insightful reports and case studies about crypto trading and the blockchain industry.

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