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The Monthly Drop
 
 
Covering A to Z with Algoz
 
 
 
 

THE BIGGEST WAVES HITTING THE CRYPTO SHORE

JUNE 2020

 

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HIGHLIGHTS
  • Crypto Mom is back in business!
  • The Telegram Group is going to be giving up a whole lot of capital... and some privacy too 🕵️
  • Fidelity Digital Assets, the crypto-arm of Fidelity Investments, published the results of their annual survey on institutional investors in the crypto industry... and we have visualized it 🤓

 

SOME ALGOZ UPDATES

 
1 YEAR ANNIVERSARY OF THE MONTHLY DROP 🍾🎉
 
The Algoz team would like to take this opportunity to thank all of our readers of the Monthly Drop and tuning in every month 🤗! 
 
HAPPY READING 🤓
 
ALGOZ INTRODUCES NEW TRADING STRATEGY
 
Position Trading CTAAlgoz is excited to be adding a new strategy to its portfolio of trading solutions! The Position Trading strategy is focused on taking long positions on various assets, capitalizing on trends and directional movements. The latest results and performance breakdown for our Position Trading strategy is available to view on our resources tab!
 
 
 
JUNE RESULTS
 
1-114June results for our Long Short Alpha Links trading strategy is up on the resources tab on our website now. Check them out and our year-to-date results! 
 
 
 
 
 
 
 
 

30 DAYS IN 1

BIGGEST TRADING NEWS & MORE

 

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Got It. Do NOT mess with the SEC. Loud and Clear. In last month’s Monthly Drop, we reported on the SEC winning its lawsuit against the Telegram Group for their breach of federal securities laws. On June 26th, the SEC received the thumbs up for its settlement with the cloud-based messaging giant. Having sold 2.9 billion GRAM tokens, Telegram is to now return $1.2 billion to investors and pay a $18.5 million penalty. In addition, the Group will have to report to the watchdogs for the next three years before indulging in any activity in conjunction with the issuance of digital assets!

 

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Insights on Institutional. Offering enterprise-grade custodian and trade execution services to its institutional customers who have holdings in digital assets, Fidelity Digital Assets released the results of its annual Institutional Crypto survey! With the results reflecting 774 institutional investors across the US (393) and Europe (381), the findings of this survey offer industry-shaping insights into the world of institutionals.

 

 

Fidelity Survey Infographic

 

 

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Mama Peirce AKA Crypto Mom. Crypto mom has secured her position in the SEC for a second term of service till 2025! What does that mean for the crypto community? Dubbed as CRYPTO MOM for her two dissents in advocacy of cryptocurrencies, Hester Peirce will continue to motivate and drive change in the regulatory agency! She is our pillar of support, our ally. And as dramatic as that may sound, this is how desperately this industry needs supporters within the regulatory body! Under the guise of ‘ahead of our time’, regulators have effectively slowed down the rate of adoption of cryptocurrency. However, the rocket-ship rate of innovation taking place in this industry is unparalleled and with powerhouses like Peirce, mass adoption of crypto can come into fruition a lot sooner than anticipated! Or at least, we can hope so 🙏 …

 

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Threats covered with Niceties. A recent conference had Valdis Dombrovskis, economic minister of the European Union, sharing some important insights on the future regime and state of cryptocurrency. With a sweet bravado, the minister made statements like, “I see digital as the future of finance;” and “With customers of most financial institutions … obliged to stay at home, carrying out financial transactions online quickly turned from being a convenience into a necessity.” The real stinger came in when Mr. Dombrovskis hinted at what the future of cryptocurrency would be like for the EU. The general idea is that rules will be proportionate with the level of risk a project has. However, if a project can be categorized as a ‘global stable coin’, stricter rules will be applied, due to its ‘potentially systematic role’. It seems that Facebook’s Libra, which had the potential to become a ‘global stable coin’, has turned regulators into Alcatraz-level watchdogs for crypto 🕵️.

 

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Alpha in Bitcoin Forks 🤑. The forks are outperforming Bitcoin! An equal-weighted index consisting of Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Bitcoin Gold (BTG) amassed YTD returns nearly 3.5 times greater than Bitcoin alone! Of the forks, BSV amassed returns of 96% in 2020, compared to 36% for Bitcoin, and 18% for BCH. With the March Madness taking a toll on nearly all assets, digital or otherwise, the forks benefited from the increased volatility and price inflation of Bitcoin!

 

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Stablecoin but not so stable rewards. USDC, the second-largest Stablecoin by market share (~7%), which once rewarded its holders a 1.25% annual percentage yield (APY), will not be so giving anymore. Coinbase users will now earn a mere 0.15% APY on their USDC holdings.

 

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HODL. A new report by Chainalysis reveals what exactly is happening with the +18 million Bitcoins (BTC) currently in circulation. With approximately 2.4 million BTC left to mine, 19% is being used for trading, 20% has not moved in +5 years, and about 60% of that Bitcoin is being held long-term, as of June 2020. The report features a further breakdown regarding the trading of bitcoin and the dominating exchanges.

 

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$95.4 MILLION IN TOTAL ASSETS. In the recent month, blockchain ETFs seemed like a popular bet, with the number of users holding blockchain-related ETFs hit its 2020 peak! Surpassing BLOK’S ETF, Elwood Global’s Blockchain Equity ETF has become the largest blockchain ETF with a total asset peak of $95 million. With holdings in CME Group, Square, and Overstock, the ETF ‘provides a vehicle for exposure to companies involved with the crypto sector.’

 

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Taxes just got easier, if that’s even possible… Ernst & Young (EY), a BIG FOUR accounting & auditing firm, has developed an application called CryptoPrep, which can help its U.S. based customers with their crypto tax filings, starting at as little as $49. With the global reach of the CPA firm, you can only expect this type of application reach a theater near you any time soon.

 

THE ALGOZ-CAL

UPCOMING BLOCKCHAIN & CRYPTO EVENTS

 

BLOCKDOWN | VIRTUAL | JUN 18 - 19, 2020

ASIA BLOCKCHAIN SUMMIT | VIRTUAL | JUL 15, 2020

ELEV8 | NEW YORK | JUL 20 - 21, 2020

HONG KONG BLOCKCHAIN WEEK | Hong Kong | SEPT 28 - 30, 2020

TOKEN2049 | Hong Kong | OCT 7 - 8, 2020

 

 

The Last Drop

 

CRYPTO MOM IS IN DA HOUSE

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