Triaconta Weekly #180
The following topics will be addressed in this weekly.
- Bitcoin Day
- Bundle performance
- Winners and losers
- Market overview
On Tuesday, September 7, Bitcoin became legal tender in El Salvador alongside the US dollar. Every Salvadoran in the country or abroad was given $30 worth of Bitcoin through the government’s Chivo app this week. 70% of citizens in this country do not have a bank account and now have a digital wallet with Bitcoin. To celebrate this “Bitcoin day”, millions of people around the world pledged to buy the same $30 worth of Bitcoin on September 7. That went well for a while with even a breakout to €44,000, but by the end of the afternoon, large investors took their profits and along with the long positions that were liquidated, Bitcoin suddenly plunged 18% to €36,400 and bounce back quite quickly to €39,000 where we are now consolidating.
With only a few exceptions, the coins in the market are following Bitcoin’s decline, which is why all bundles are negative this week. The monthly return is still positive and this is still an excellent year for crypto owners.
1 Month: +10.05% | 7D: -11.15% | 24H: -2.82%
1 Month: +43.20% | 7D: -6.27% | 24H: -1.98%
1 Month: +31.21% | 7D : -3.44% | 24H: -3.49%
1 Month: +31.77% | 7D: -15.25% | 24H: -1.16%
Winners and Losers
Algorand (+79%) is the biggest riser this week with good news (see market overview) from El Salvador! Also IOST (+54%), again Solana (+32%), again Aelf (+32%) and ICON (+26%) is probably already benefiting from the soon to be launched ICON 2.0 with many improvements.
There are also enough losers this week such as Pennystock Reserve Rights (-24%), UniSwap (-22%) after reports of an investigation by the US regulator SEC, Maker(-20%), Aave (-20%) and BitShares (- 20%).
A Japanese Big 3 will start in October at financial giant SBI Holdings. The Japanese government has been very critical of cryptocurrencies so far and has put in place strict regulations. The company hopes with a fund with Bitcoin, Ripple and Ethereum to change the critical view of the country. Digital assets in funds (bundles) are on the rise worldwide and are increasingly becoming a small part of any portfolio.
The European Blockchain Services Infrastructure (EBSI) of the European Commission has selected the IOTA Foundation as one of seven projects to participate in the preparatory phase of designing an EU-wide distributed blockchain technology platform. The IOTA Foundation will support the EBSI in cross-border relationships between governments, businesses and citizens for the “digital management of educational credentials, reliable digital audit and traceability of documents, SME financing, data sharing between authorities and digital identification.”
The Alonzo upgrade of the Cardano (ADA) mainnet is still on track to take place on September 12, according to the latest tweets. The price was already ahead of this news and has reached a top of € 2.50 in recent weeks.
PancakeSwap (CAKE) has announced that it will launch a non-fungible token (NFT) marketplace on September 22. This will be the first version of the marketplace and they are also releasing a PancakeSquad NFT collection. The fees generated by the NFT marketplace and the PancakeSquad NFTs will be used to buy back and burn CAKE. Users need CAKE to create the PancakeSquad NFTs.
Koibanx, a leading Latin American asset tokenization and financial infrastructure company, today announced that it has signed an agreement with the government of El Salvador, you know, the first country to use Bitcoin, to develop its blockchain infrastructure. on top of Algorand (ALGO) technology.