What happened to Terra's BTC reserves, who can use FTX's new stocks trading service, and will crypto get regulated.
Welcome to the first issue of the One Button Capital weekly newsletter.
Every Monday, you will receive an email letter covering the latest news from the world of crypto and blockchain, internal insights from our team, and One Button portfolio performance. (Sign up from here)
With these weekly updates, we hope to deliver great value to our investors, users, and community members. To read more about the future plans of One Button Capital and our recent rebranding, see this article.
Now, let us begin with the main topics of today.
After closing at a record eighth red week in a row, Bitcoin began regaining some of its value and is now sitting at $30,399.
The average 7-day ROI of the crypto market is +2.53%, with BNB being the biggest winner among the top 10 crypto assets with a +12.16% gain.
The three leading stable coins (Tether, USDC, and BUSD) remain with a solid peg despite losing $7B of their liquidity over the last week.
Following the Terra (LUNA) crash, many have questioned what happened to Luna’s Bitcoin reserve, which was worth $3B at the time of the collapse.
According to an official tweet from May 16, over 80,000 BTC got swapped in an attempt to save the TerraUSD peg. The strategy did not work as both of Terra’s cryptocurrencies crashed, leaving the Luna Foundation Guard with less than $100M worth of digital assets in just six days.
After last week’s stablecoin events, G7 nations have demanded rapid and complete regulation of cryptocurrencies. The countries’ finance ministers and central bankers are requesting that the Financial Stability Board (FSB) advance consistent and systematic regulation before the next G7 meeting (June 2022).
FTX US has just announced that its new platform, FTX Stocks, would allow users to trade stocks and ETFs. The service will enable select US consumers to trade and invest using Nasdaq-routed orders. FTX states that stock trades will be commission-free and that users can pay for their investments with the stablecoin USDC.
Aggregated return of OB Capital vs BTC and ETH
Aggregated performance of all trading strategies currently active at One Button Capital exceeded the returns from Bitcoin (BTC) and Ethereum (ETH) by +12.98% and +18.00% respectively over the last 30 days.
Top-performing market pairs
The best performing market pair in the last 30 days is BNB: BUSD with +12.09% return, followed closely by SOL: BUSD with +9.24%.
Top-performing AI strategies
Surprisingly, the two Performer strategies did not make this week’s list of top earners, but Astral v2 and Horizon seem to have an edge during sideways markets.
In the last week, our engineering team made the following changes to the OB Capital app:
May 20, 2022
May 19, 2022
May 18, 2022
May 16, 2022
Despite being in what many consider the 4th crypto winter, there is good news.
In a recent report from A16Z on the state of cryptocurrencies, the US venture capital firm predicts an increased chance of DAOs, social tokens, and decentralized social networks exploding in a few years.
If that comes true, we will be looking at a completely new Web3 market that will give creators and developers much more room for growth.
While we currently see little movement on the markets, TradFi folks are gradually moving their capital into crypto. This process is slow and silent, but it’s happening right now. Many signs indicate a potential crypto reversal that can lead to a continuation of a bull run.
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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