Singularity Fund — Weekly report #4

Weekly report from June 20 to June 27

Net Asset Value and Performance of the fund

NAV on June 27= $7.96

Performance from June 20 to June 27= -19.09%

Performance from May 31 to June 27= 29.47%

NAV evolution between May 31 and June 27

A very wild week for the crypto markets! ETH was hit hard and went as low as $220 on Monday. At the time of this writing, it has already began to recover and is now trading at $290. The fact that we recently liquidated our BTC position (see last week report) was very negative in this situation because BTC and ETH have a negative correlation, therefore ETH drop would have been mitigated by the BTC position if we had maintained it. It does not mean that it was a wrong decision (we stick on this), however it was done exactly at the wrong moment, just before the crash. The good news is that the market is recovering fast, which shows a strong resilience in comparison to 2016.

In a few days we will publish the first monthly report, where we will do a performance analysis and compare the performance of the fund to the performance of other assets during the same period.

Fund Composition on June 27

Fund crypto-assets allocation on June 27

Overall, no big change in the fund allocation since last week. We introduced CVC (Civic token) that we bought during the crowdsale/ICO on June 21. Civic is an identity verification platform, using a blockchain to manage verify identities in a decentralized and safe way. From their own definition on Civic website:

User authentication is a growing security threat that organizations face today. With identity theft and data breach numbers reaching new heights every year, businesses pay millions of dollars to ensure that the transactions on their servers are authentic. Hackers steal identities and impersonate valid customers, racking up thousands of dollars of fraudulent charges.
Through our decentralized architecture with the blockchain and biometrics on the mobile device, our platform provides multi-factor authentication without a username, password, third party authenticator, or physical hardware token.

We were able to test the beta Civic app, and it is really promising. The token sale / ICO was also very well organized and they had the great idea to request to the ICO participants to actually use the app to register on the ICO. It is an excellent way to get the product known and sprad its aadoption.

Coming weeks

Segment 1 (core): We will maintain our targets until Bitcoin UASF is cleared.

Segment 2 (dynamic): We continue exploring this asset class and analyzing several tokens to determine the potential candidates.

Segment 3 (ICO): Some of the main ICOs to watch are SANTIMENT (financial data feeds for crypto markets), DAO CASINO (Blockchain casino platform), InsurEX (decentralized market place for insurance) and Nimiq (next-generation blockchain-based browser)

Tools: some of you are already using our simple NAV calculator and we will enrich it soon with the portfolio composition. Follow us and we will keep you posted!