SEED Holdings report #47 - Green? Sorry I forgot what colour is.
Hello everyone,
Another couple of weeks have passed and with them, it's time for another regular report for my SEED Project. We just had two weeks of a very decent green across the table and it feels comfy from that side.
I believe we are somewhat replicating 2019 to some extent, If 2018 were a full bear, 2019 were the year of bitcoin. All things equal Bitcoin should be outperforming everything for a few months (but this time should be different).
Today I'm bringing a couple of charts with a few inner thoughts:
BTC Dominance:
BTC.D is not anymore what it was but it's still interesting to observe from time to time.
Three main zones; 70, 55, and 37% of Bitcoin Dominance.
70 Marked the 2019 top and probably won't never be reached again since nowadays people diversify into a larger pool of things. Only ETH has almost a 20% dominance, while stablecoins alone account for another 10%. Everything else would have to disappear and this is, uhm, improbable.
55 Could be the hypothetical maximum realistic top for Bitcoin dominance, although I see more 50%.
37 Is the bottom level and a breakout to the downside from this level could mean the beginning of the end of the current Bitcoin Dominance. Ethereum is the second contender in this battle.
Realistically I see BTC creeping up to the 45-50% range before altcoins start recovering again his market share.
ETH/USD:
Price action for ETH has been a bit clean compared with BTC in the last few months (cause of the merge?). Whatever the case, it's interesting how activity slows down every time the price has been below the 2018 top and the coin gets accumulated for weeks.
As you can see Crab structure remains intact, so we cannot say (yet) we are in the bull market territory, until now it's been an upside correction after many months of destruction.
the real fight for ETH is at 1800$, break that mark and we can start arguing.
Although, when in doubt, I always recommend to keep zooming out and to pay attention to the overall trend. If we filter out al the noise, all the scams, all the daily erratic price action, etc... we can clearly see that we're poised for the mother of all the crossovers:
RSI at maximum opportunity point or near, MACD histogram slowly turning into the positive area, trendlines about to converge in a few months. Clearly not investment advice, but this is the time to accumulate as much as possible, or at least that is How I see it(as it has been for the last 8 months).
HIVE/BTC:
And I wonder, what is doing our beloved network in terms of BTC while all of this happens?:
Even in very high timeframes, we are keeping the ground very decently vs. BTC, with a very healthy HBD economy that keeps absorbing coins from CEXEs. Did you know that The HBD liquid supply in Upbit was 9M at the beginning of 2022? Now it's at 1M$ according to the latest report from @dalz .
Add to this equation More functionalities for Hive in 2023 (wen Smart Contracts?) and we're definitively ready for magnitudes of growth.
Talking about SEED (because yes, maybe today got a bit off-topic talking about charts, sorry).
-
We jumped about +30% from the lows with the portfolio overall (from 80K$ up to 105K$), This in itself would not be so interesting if it didn't say that our main coin ($DAO), which accounts currently for over 40% of the portfolio hasn't moved much at all.
-
This basically means that If DAO has to follow up (which should be sooner or later), we'll be adding another 10-15K$ in no time.
-
In the meanwhile I'm keeping most of our liquid in ETH-ORN (+25K$!), Eth is a proxy play while ORN is another laggard. I've done my research on this trifecta (DAO, ETH and ORN) so for me it's a no brainer to keep the funds there. It's positive appreciation over time with ETH + mooning potential with ORN while it's still a very decent chunk of liquid for presales.
-
Talking about presales, they keep coming but in a slowish mode. Last one this week with $MTG (500$ allocation, actual value of 750$ after pulling out 370$. Solid!
Picture of all the funds.
And the bar chart:
Current SEED Stats
- Circulating supply: 100K (full released)
- Total value of AUM: 104880$
- Backed value of each SEED: 1,048$
- Redeemable value of each SEED: 0,731$
50% of blogging rewards paid to @seed-treasury.
Sorry I forgot to add beneficiary, next post will be 100%.
Remember you can follow the portfolio in real-time here:
https://cointracking.info/portfolio/seedtreasury
You can join us on Telegram and follow me on Twitter.
Vote for My Witness!
If you like what I do consider voting for my witness:
Witness account: @empo.witness
