Weekly Yields

Recession Is (NOT) Here. Weekly Newsletter #011

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… According to the FED. Read to find out where crypto is heading in August with Ethereum in front.

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Weekly Yields
Danail Velchovski
August 1, 2022
Aug 1


We enter August with some great news, as we see the cryptocurrency market finally rebound from its poor performance.

Ethereum showed an astonishing 55% gain in July, while Bitcoin recorded 20%, making it the most successful crypto month since October 2021.

At the same time, the Federal Open Market Committee increased its target for the federal funds rate by 75 basis points (bps) in response to the highest inflation levels in 40 years.

Having “two straight quarters of declines” is tantamount to the definition of a recession, but apparently, according to policymakers, they’re pointing to an altogether different standard.

In other words, they are trying to change the definition of a recession.

Market update

The total global market cap of crypto grew by $70B in the last seven days, with Binance Coin (BNB) and Ethereum (ETH) having the biggest ROI with +17.18% and +16.34% respectively. The average return of the market is +11.44%.

Data from Aug 1, 2022, at 16:30 UTC via Messari.io.

Latest news:

Ethereum Developers Confirms Final Testnet Merger Date

Developers announced that the Goerli testnet merge will happen from August 6–12. This is the final step before the transition of Ethereum from a Proof-of-work (PoW) to a Proof-of-stake (PoS) blockchain. This is the most awaited update of 2022.

In a recent interview, Vitalik Buterin, the founder of Ethereum, stated that he expects that ‘The Merge’ will not be priced-in immediately, both in market terms and psychological and narrative ones.

Feds Tell Crypto Broker Voyager to Stop Claiming It’s FDIC Insured — Because It’s Not

The Federal Deposit Insurance Corporation has sent a letter to Voyager Digital demanding that the company stop making false claims that its customers’ funds are insured. According to the FDIC, Voyager misled its customers by implying that their uninsured deposits were FDIC-insured. During the first week of July, Voyager filed for bankruptcy protection.

Ethereum Classic Climbs 124% In 2 Weeks

In the past two weeks, the price of Ethereum Classic has doubled against the dollar. Since the 2016 hard fork, Ethereum Classic has utilized the same proof-of-work algorithm for consensus as Ethereum.

Now, with Ethereum’s impending transition to proof-of-stake, there is speculation that some of Ethereum’s proof-of-work miners will switch to mining Ethereum Classic.

Other news

Our research

Read the OB Capital June 2022 Report on our website or download the 54-page PDF here.

June 2022 Report

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

Looking at the data between Jul 25, 00:00 UTC and Jul 31, 23:59 UTC we can see that the aggregated return of OB Capital is better than Bitcoin and Ethereum by +4.67% on average.

The top two digital assets began recovering from months of decline. Ether’s price increased by more than +55% in July, while Bitcoin increased by +21.45% in the last 30 days.

On the other hand, in the last 90–180 days, prices show both assets have lost around -36% of their value, indicating that there is still plenty of room for growth.

During this time, the OB Capital strategies saved investors a significant amount of money, creating a great opportunity to capitalize on the current bull market.

7D returns are calculated for Jul 25, 00:00 UTC — Jul 31, 23:59 UTC. Source: One Button Capital Stats

Top trading strategy

Both Performers AI strategies recorded significant average returns in the past week. P2 gained +10.58%, while P1 accumulated +9.20%. The latest trading bot Explorer showed good results as well with +5.67% ROI, making it a third consecutive green week for the new AI.

The best OBC trading strategies between Jul 25, 00:00 UTC — Jul 31, 23:59 UTC. Source: OB Capital Stats

Top-performing market pairs

The Performer v2 AI strategy gained over 20% ROI in SNX: BUSD and MATIC: BUSD — outperforming both market pairs in the last seven days. Performer v1 had its most successful rally against LINK: USDT with +18.43% ROI.

Top market pairs for OBC strategies between Jul 25, 00:00 UTC — Jul 31, 23:59 UTC. Source: OB Capital Stats

Product updates

Our developers continue improving the app experience for our investors.

July 31, 2022
- Added a new dashboard indicator for each bot that showcases whether the bot has (trailing) stop-loss enabled.

July 30, 2022
- Enabling USD-based market pairs on Kraken
- Improved investment portfolio creation mechanism

July 28, 2022
- Added indicator of the latest value for each dataset on the OB vs BTC vs ETH chart.

July 26, 2022
- Added new email indicating that the user is put on the account activation waitlist.

July 25, 2022
- Resolved issue with miss-calculation of 30D, 7D, 24H ROI on the public statistics.

Final word

It is a big month ahead, and we are looking forward to a couple of things.

First, of course, is our July report, which we will send to you in a few days. You will get a complete summary of last month’s market movements, AI performance, and news — all in one place. As a bonus, you will also receive our latest research before anyone else.

Furthermore, on August 4 (this Wednesday), we will represent OB Capital at the Bali Blockchain Ecosystem Conference 2022, and I am invited as one of the speakers.

If you are in Ubud, Bali this week, make sure to come and visit us at the event!

Max Yampolsky,
CEO at One Button Capital

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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Danail Velchovski

Danail masterfully combines his deep knowledge of blockchain technology and his strong writing skills to deliver crisp, comprehensive content. With his early immersion in the web3 domain, he navigates the complexities of this revolutionary technology with ease, turning intricate concepts into engaging, digestible pieces. His research acumen and keen insight into the rapidly evolving world of decentralized networks make him an invaluable asset in educating audiences about web3's potential and its ever-evolving landscape.

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