TEA 🍵 becomes Moonity „Crypto Fund“
A short story of rebranding and rebalancing.
Yes it’s been quite a while since there has been an update, mostly because the markets were still hibernating and startup bootstrapping is taking a huge bite from my resources. Alas summer is here, markets are coming back to life and one boot is almost strapped!
As some of you maybe saw, ICONOMI overhauled their branding and have been streamlining their user experience towards a more smooth and comprehensible product.
During that process we were asked to please rename our Digital Asset Arrays (DAA), since the term will not be used anymore and many had the word array included.
So it goes that DAA is now Crypto Fund and Third Eye Array (TEA) is now Moonity Fund. A twitter poll was instrumental in deciding on the new name.
Market summary and outlook
Bitcoin has been blasting through the 8k & 11k USD resistance levels within the last couple of weeks and seems to be eyeing with the 14k resistance again!
Bitcoin 3 day prediction for COINBASE:BTCUSD by DanMercurius
Triangle points to decision time in about 3 days. Trend indicators signal upswing from current support
Additionally Binance announced DOGE listing couple of days ago. A DOGE coin pump usually ushered in the „alt-season“, some 2–4 years ago. We‘ll see how the more mature (?) markets will react this time!
Facebooks „cryptocurrency“ Libra had its white paper released and was received with very mixed feelings. For most part because it‘s a centrally controlled currency created together with regulators, while communicating to the world it is open and decentralized. Meltem Demirors or Jimmy Song have more meaningful comments on that:
Nonetheless people will want to buy into that, hoping to get rich while watching Netflix. Together with the approaching STO/ETO wave supposedly hitting us soon, many are now stocking up on bitcoin and Ether, in order to be able to participate in the upcoming token sales.
The bitcoin/altcoin correlation is still visible, for if bitcoin climbs, most altcoins are sill dropping or moving sideways. It follows that once bitcoin (weekly) candle is not going parabolic anymore, we can expect a flow of value into altcoins.
Moonity Fund impact
The overall positive bitcoin market sentiment led to lots of changes in the Moonity Fund structure.
Most important change is that the Bitcoin weight has been steadily increased to currently 50%.
All other assets were steadily decreased in respect to their relative value. DNT for example has dropped to around 120 satoshi, meaning the fund can hold the same amount of tokens for less percentage of weight.
Once bitcoin weekly candles are not growing parabolic anymore and price becomes less volatile (Bollinger Band more narrow), Moonity will rebalance in favor of altcoins.
Nothing written here is investment or financial advice or should be taken as such!
You are your best financial advisor and if you don’t feel that way, please find one!