Crypto Strategy - Summer Rally?
Week 28 of no opinion, just math: The weekly execution log of a quantitative crypto strategy.
FICH Crypto is a systematic, long-only algorithmic strategy trading exclusively within the top 150 altcoins by market capitalization. Every Friday, our algorithm evaluates relative strength across the universe and automatically rotates capital into the most dominant digital assets — maximizing exposure to structural crypto trends while completely removing human bias.
If you have invested $1,000 with Fich Crypto on Jan 2020 you would now have $113,480
1. Market overview
The crypto market remained resilient despite geopolitical tensions, with Bitcoin trading around $62,000 to $64,000 and posting about 2% weekly gains, supported by intermittent positive ETF flows and technical support near its 200-week moving average. Ethereum traded near $1,770 with roughly 1% to 2% gains, helped by a multi-day streak of net inflows into spot Ether ETFs. Altcoins like XRP and Solana edged higher, while memecoins regained momentum amid increased on-chain activity on new layer-2 networks.
Regulatory focus intensified as the CLARITY Act missed its July target, shifting attention to an August 7 Senate deadline. The SEC’s 2026 regulatory agenda signaled planned updates for rules covering crypto exchanges and broker-dealers. Europe’s MiCA implementation tested compliance and user migration, and Brazil introduced new offshore crypto taxation and reporting requirements. Ongoing fragmentation persisted, including restrictions on prediction markets and the rejection of a proposed Bitcoin-backed bond in New Hampshire.
Institutional and technology developments included Robinhood launching a dedicated layer-2 blockchain that drove significant on-chain trading volume and boosted select memecoins. Traditional finance infrastructure advanced with Swift rolling out a blockchain-based ledger for tokenized assets involving major banks, and more than $7 billion in value moved to improved cross-chain protocols. Notable challenges included concerns about corporate Bitcoin treasury strategies amid reported sales, a Cardano wallet incident exposing governance vulnerabilities, and continued net outflows from Bitcoin ETFs over recent weeks despite occasional inflow days.
Fich Monthly returns %
2. This week overview: Fich Crypto vs the market
Through 9 July 2026, Fich investment strategy returned +5.41% in July so far, against +7.86% for Bitcoin and +11.01% for Ethereum.
Stepping back to the year-to-date picture:
3. The portfolio this week: bought, sold, and held
On 9 July 2026 the system closed 3 positions and opened 4 new positions and held 2 from the previous week, leaving the portfolio at roughly 9.2% cash.
The algorithm systematically closes underperforming assets while holding positions with strong momentum.
Closed trades, return on each closed position:
Average closed-trade return: +0.17%. Hit rate: 1/3 (33% winners).
Current portfolio:
New Portfolio update
DeFi and payments narratives strengthened across several major protocols this week, led by concrete adoption catalysts, token-economics tightening, and near-term upgrade catalysts.
Uniswap (UNI) gained momentum after becoming the native AMM on Robinhood Chain, quickly processing over $250 million in first-week volume as the network’s liquidity expanded. The integration broadens access to tokenized equities and other real-world assets via Ondo-linked listings, supporting deeper on-chain liquidity and institutional attention. Governance is also in focus, with UNI holders voting on extending fee-burn mechanics to v4 pools across multiple chains—building on an already meaningfully reduced circulating supply and reinforcing a deflationary setup.
Polygon (POL) continued to consolidate its role as a payments-focused settlement layer. PayPal’s announcement of native PYUSD issuance on Polygon (via Paxos) strengthens regulated stablecoin utility for cross-border movement and merchant workflows, while Mastercard’s stablecoin settlement efforts on Polygon underscore enterprise-grade throughput and always-on processing. Network activity remains robust, with stablecoin volume leadership and high transaction counts supporting the adoption thesis, alongside a burn dynamic that is increasingly positioning POL’s supply as net deflationary.
Zcash (ZEC) saw sentiment improve on two fronts: regulatory overhang eased after the SEC closed its investigation into the Zcash Foundation without enforcement action, and institutional optionality remains elevated with an active spot ETF application in the market. Technically and fundamentally, attention now shifts to the Ironwood mainnet activation slated for late July, which introduces a formally verified shielded pool and supply-verification improvements—an important catalyst after prior emergency fixes, and a potential volatility driver into the upgrade window.
JustLend (JST) benefited from a combination of protocol upgrades and incentive-driven liquidity. Recent governance and contract updates aim to improve scalability, capital efficiency, and risk controls, while exchange-backed promotional rewards on TRON are drawing fresh deposits. Higher activity feeds into JST buyback-and-burn dynamics, reinforcing a constructive near-term backdrop as TRON ecosystem usage remains elevated.
4. Multi-year track record
By the end of last week, that hypothetical $1,000 was worth $113,480 in the strategy, versus $8,783 in spot Bitcoin and $13,346 in spot Ethereum.
Fich Crypto Strategy vs. BTC and ETH — growth of $1,000 since inception (log scale).
Disclosure: All performance metrics account for a 0.10% commission per trade side. Execution is strictly limited to the Top 150 altcoins by market capitalization, rebalanced every Friday. Full historical performance data is available at Fich.ai. This letter is for informational purposes only and does not constitute investment advice.