Singularity Fund — Weekly report #5

Weekly report from June 27 to July 4

Net Asset Value and Performance of the fund

NAV on July 4= $8.64

Performance from June 27 to July 4= 8.6%

Performance from May 31 to July 4= 40.61%

NAV evolution between May 31 and July 4

Fund Composition on July 4

Fund crypto-assets allocation on June 27

In our Weekly Report #3, we announced that we switched most of our BTC (Bitcoin) position to LTC (Litecoin). This week, we saw a positive effect of this decision, as LTC saw its price increase around 20% and was cited by many crypto analysts as a good hedge against a potential BTC crash.

On ETH (Ethereum) side, this was a consolidation week, with a support at around $250, far from the ATH (all time high) of $400 only 3 weeks ago.

ETH 33.64%
LTC 29.56%
XRP 6.54%
DASH 2.26%
WAVES 3.71%
IOTA 2.05%
ANS 2.76%
XRL 4.31%
BBB 2.12%
NET 2.69%
CVC 2.82%
SNM 2.22%
BNT 2.29%
TKN 1.56%
BCAP 1.47%

Regarding the new positions, we now hold XRL (Rialto.ai), NET (Nimiq) and BET (DAO.casino).

About Rialto, here is the description given on their website:

RIALTO.AI is a team of data scientists, trading economists and signal processing experts, designing proprietary algorithms for arbitrage and market making. By providing liquidity and matching orders, we are increasing market efficiency and connecting crypto markets, while earning a fraction on every transaction.
We are on a mission to become the largest market maker in the growing multi-billion landscape of cryptocurrencies, digital assets, and blockchain transactions.

Arbitrage on the crypto markets is going to be extremely lucrative for at least a few years, because of a highly segmented and volatile immature market.

Regarding Nimiq, we were convinced by trying their beta version of web-based blockchain wallet/miner. Nimiq is developing a payments-focused blockchain working without any installation in a web browser. It means that even mining can be done within the browser, which could reach a very large community of non-techies.

To understand how DAO.casino intends to disrupt the gambling industry, you can read this Huffpost article:

Dao.Casino is the first company to build an Ethereum-powered protocol for the online gambling industry. By employing a system of smart contracts, participants can exchange value peer-to-peer without the need for third party verification. The decentralized system ensures that there is no single point of failure or risk of a human operator being corrupted. Smart contracts incentivize good behavior with token rewards and punish bad actors by revoking tokens.

If you missed June’s Singularity Fund performance analysis report, check it out!