Triaconta Weekly #175
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- Market overview
The revision has been completed and most bundles are up to date again. With 8 days of gains in a row for Bitcoin and good news for XRP, the Big3 bundle is booming this week. There is growing confidence among investors that the bottom may well be in place and we can see the entire market bounce back significantly in the third quarter. In any case, this week is a big plus for all bundles.
1 Month: +9.21% | 7D: +17.87% | 24H: -0.20%
1 Month: -0.17% | 7D: +14.41% | 24H: -0.22%
1 Month: +4.75% | 7D : +13.51% | 24H: -0.78%
1 Month: +7.94% | 7D: +9.91% | 24H: +1.87%
Winners & Losers
At the end of the month of July we see that DeFi coin Terra has achieved the largest increase (76%) in 1 month. Winners this week are next to Terra (+40%) the PennyStock coin Reserve Rights (+38%). Also Fetch.AI (+36%) thanks to a listing on Coinbase, Aelf (+28%) and Ontology (+27%) are recovering well. Even better news, there’s only one small down this week Compound (-5%).
Good news for XRP comes from SBI Remit, the largest money transfer provider in Japan. The Philippines (at $1.8 billion) is the third largest destination for remittances from Japan, with Japan (at 10.50 percent) having one of the highest remittance fees in the world. A much cheaper and faster bank transfer option will soon be available to customers. This is made possible with Ripple’s first On-Demand Liquidity (ODL) service, which uses the crypto XRP for transactions. XRP rose 15% on this news.
Terra (LUNA)’s next major upgrade, Columbus-5, is coming and will integrate Cosmos’ Inter-Blockchain Communication Protocol (IBC). That means Terra will support all major PoS chains with bridges to Ethereum and Solana. Terra’s decentralized stablecoin TerraUSD has been growing in popularity lately due to uncertainty over regulation and the financing of much more well-known central stablecoins. Growth in use of the stablecoin always means more value for the LUNA token, as the price is stabilized by arbitrage.
Ripple continues to develop despite the US lawsuit with the SEC and is now also venturing to the tokenization of assets on the XRP Ledger. RippleNet General Manager Asheesh Birla announced “Tokenization is changing the way people buy, sell, track and manage assets – everything from art and real estate to intellectual property, stocks and goods in the supply chain. In fact, the World Economic Forum predicts that by 2027 10% of global GDP will be tokenized”.
Will you soon be paying for Christmas shopping at Amazon with crypto? The company posted a vacancy for a blockchain and crypto specialist and that could mean everything from supply chain and quality control to paying with crypto for your Amazon products. It was a nice boost for the Bitcoin price as it shot up 15% on Monday on this rumor. Amazon was quick to declare that it does not (yet) intend to accept payments in crypto. Still, half of the increased price remains, perhaps thanks to Tesla’s official quarterly figures that they have not sold any more Bitcoins. Major companies are all exploring crypto and blockchain and will continue to be a source of positive news for the foreseeable future.