May 27th, 2024

Welcome to the Diamond Pigs May Newsletter!

In this month’s update, we’ll delve into the latest economic indicators, significant crypto news, and exciting updates within the Diamond Pigs ecosystem.

Key Highlights:

-Macro Economic Landscape and Its Impact on Cryptocurrencies

-SEC Approves Spot Ether ETFs: A Game-Changer for Crypto

-US Congress’ Pro-Crypto Legislation: A New Era

-Diamond Pigs Strategies: Performance Updates

-ByBit Integration: Expanding Our Exchange Reach

-Introducing Enhanced Coin Management: The New ‘Exclude Coins’ Feature

Detailed Insights:

Macro Conditions & Market Sentiment:

The total CPI for April 2024 came in at 3.4%, matching expectations. This has fueled a rally in stocks and crypto, as lower interest rates could increase investment in riskier assets. This week will see the release of more economic data, including consumer confidence and GDP indicators, which may provide further insights into the health of the US economy and the Federal Reserve’s next steps regarding quantitative easing and interest rate adjustments.

Crypto News:

Last Thursday, the U.S. Securities and Exchange Commission (SEC) officially approved spot Ether ETFs to trade on national securities exchanges. ETH has rallied 28% on optimism surrounding the approval, given the potential demand that an ETF could launch for the second-largest crypto. Bitcoin also followed suit, reaching a six-week high of almost $72,000, although it later dropped back to $68,000-$69,000. Since Bitcoin ETFs went live, such funds have absorbed $13.3 billion in net inflows, setting performance records for ETFs at launch time.

Exciting developments continue in the US, with multiple pro-crypto policy votes within Congress this month. Last week, the Senate passed a resolution to repeal Staff Accounting Bulletin 121, making it more economically feasible for regulated banks to offer crypto custody services. Additionally, the House passed the Financial Innovation and Technology for the 21st Century Act (FIT21), creating long-requested legal clarity for crypto.

A Twitter poll from Bitwise CIO Matt Hougan showed that many investors who have bought the spot Bitcoin ETFs would also buy the Ether ETFs. Presidential candidate Donald Trump expressed support for the crypto industry, promising potential boosts if elected.

These events have reversed the BTC/ETH chart trend, leading many to expect a continued decline in BTC dominance and a strong ETH performance, possibly initiating the long-awaited altcoin season.

Diamond Pigs Strategies:Bisaro Strategy Leading the Pack

Our new Bisaro strategy, focusing on meme coins, has shown remarkable performance with over 50% growth since its official launch 1.5 months ago. Additionally, the Gascon strategy (trading BTC, ETH, and SOL) and Pennywell strategy (trading non-PoW coins like BTC, LTC, and DOGE) have both demonstrated strong performance, with more than 15% growth in the last 30 days, despite a highly volatile market condition.

New ByBit Integration – Now Live!

We are excited to announce that ByBit has officially joined the range of exchanges offered by Diamond Pigs. ByBit, one of the largest exchanges globally, has recently obtained a license to operate in the Netherlands. This addition enhances our platform’s capabilities, providing our users with a larger range of exchange integrations to choose from.

Introducing Enhanced Coin Management: New ‘Exclude Coins’ Feature for Diamond Pigs Beta Users

We are happy to inform you about a new enhancement to our “Exclude Coins” feature, now available exclusively for our beta users. This feature allows you to allocate a specific quantity of each coin in your wallet to Diamond Pigs while managing or trading the rest yourself, providing greater flexibility and control over your investments.

For example, if you select the Duroc strategy and hold 100 Chainlink (LINK) coins, you can choose to keep 50 coins for yourself and allocate the remaining 50 coins to the Duroc strategy. The strategy will then use this allocation to buy or sell positions based on the various bots that power it.

Stay Connected:

For a chance to join our beta testing group or for any inquiries, please contact info@diamondpigs.com. Your feedback and engagement are vital to our community’s growth and success.

Best Regards,
The Diamond Pigs Team