Despite the bounce at the end of the month, it was a painful one that saw many more down days than up days. The market capitalization went down from $330 billion to $ 255 billion in June and actually reached a new 2018 low of $234 billion.

Source: https://coinmarketcap.com/charts/

This is concerning as this low is despite the addition of hundreds of new assets since the beginning of the year. This means that the market capitalization for assets that have been around longer are actually much lower when comparing “apples to apples.” The January 7, 2018 snapshot of CoinMarketCap demonstrates 1,355 assets while end of June 2018 currently has 1,597 assets. However, we should not be too surprised as we know that many of these projects do actually fail.

The bearish sentiment did not hold me back from taking the opportunity to add to my overall portfolio this month by adding fiat to my accounts. Despite the adding of new funds, the overall pullback from prices did bring down the percentage of my crypto portfolio as a total of my total invested assets to 14%:

As my other assets continue to perform well, I am considering to continue adding to my crypto portfolio given the positive outlook I feel about most of the projects I follow. I am considering adding some shorter term trading positions but am still somewhat limited as to the time I have to attend the portfolio on a daily basis. To support this thought, I have finally decided to open a new exchange account. I am excited to have many new assets now available given my incursion into this new exchange.

As I mentioned already, in addition to adding to my normal #STEEM position, I also added to my Ethereum and Litecoin positions. The main reason for my Ethereum position was to fund my new exchange account for buying new assets. I also established a new position to Bitcoin Cash as I thought it was oversold relative to Bitcoin. I think it will be a short term hold for me but I am comfortable with it in my portfolio. Using the Ethereum I transferred to the new exchange account, I added 4 new positions to the portfolio:

• BitShares (BTS): I continue to like the concept of decentralized exchanges as more regulation in many countries becomes more apparent, DEXs will create opportunities for those that are restricted. I also believe that the technology will interest even traditional exchanges in the long run given the improvements to processes, settlement, and security.
• Basic Attention Token (BAT): I have been using the Brave browser for months now and clearly see the advantages of using it over others over the long term as privacy, security, and data usage become issues for users of the internet. I also think it benefits the content creator community instead of the big centralized sites we commonly use and get monetized from.
• Cardano (ADA): I do not know much about the technical aspects of it but consider that more platform type assets will be used in the future. Given the hype around it and the recent price declines, I entered it as a long term hedge from my other platform assets like Ethereum and EOS.
• NEO: Similar to Cardano but looking for some access to the Asia markets given the innovative growth from them in the blockchain space. Still learning some more about it but the concept of earning GAS by holding also interests me in the asset.

As you can see below, none of these new additions are significant in nature. As you know, I rather scale into positions as I learn about them and these prices were very attractive given their historical highs. Thus, I come to believe that the risk/reward are positive for my long-term view. However, have in mind I am not making a recommendation of these assets to anyone just sharing my moves into them.

Although I have tried to limit the amount of assets held because I believe we can suffer from over-diversification, the prices were too attractive to miss. I also added eosDAC to the list as it showed up in my wallet from the Airdrop based on my EOS position which I still hold. I haven’t checked the wallet in a while but I have heard that a number of additional Airdrops will be coming as well so I will need to maintain that list. However, given the potential amount of them I will need to consider how to share with you in the future.

Lastly, late in the month I received notice from tZero that the ICO is being executed. Despite seeming to being lower than their initial targets, they will leave it open through August. I am hoping to see them issues the tokens soon as my position in it has been at cost given that it does not trade yet. I am looking forward to the potential of their platform and initiatives so I will keep you posted soon on that in a separate post.

What are your thoughts on my new positions? Now that I have a new exchange account, I can consider a larger number of options so let me know a couple I should look at. What assets could I consider for the short-term? I know a number of you are TA guys so look forward to seeing your thoughts on opportunities available. I look forward to engaging with you in the comments below.

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