Triaconta Weekly #183

The following topics will be addressed in this weekly.

  • Bundle performance
  • Winners and losers
  • Market overview

Bundle performance
October is generally a great month for Bitcoin and the rest of the market. For the past few years, with the exception of 2018, BTC has consistently achieved double-digit returns in October. We can see the beginning of this movement today.

Big 3:
1 Month: -8.91% | 7D: +2.27% | 24H: +4.75%

Top 30:
1 Month: -5.96% | 7D: -1.43% | 24H: +7.91%

1 Month: +7.86% | 7D : -3.43% | 24H: +8.36%

1 Month: -6.662% | 7D: -0.33% | 24H: +7.76%

Winners and Losers

OMG Network (+46%) is doing very well this week with the rollout of their solution (Layer 2 Optimistic Rollup) intended to reduce transaction costs for Ethereum DApps and improve transaction throughput. Uniswap (+32%) is benefiting from stricter laws in China that reduce the opportunities for Chinese to trade on centralised exchanges. Celer Network (+16%) even made it to 500% since the revision milestone of €0.15 on Sunday and then fell back to 25% before rising again today, making for a positive weekly return. This week, AElf (-5%), IOST (-4%), Avalanche (-3%), Algorand (-1%) and IOTA (-1%) are a bit on sale but still with excellent monthly returns (20-50%).

Market overview

The region of Central, Northern and Western Europe, or CNWE, has emerged as the world’s most active cryptocurrency region, receiving more than $1 trillion in digital assets in the past year, according to new research from Chainalysis. The report, released Tuesday, found that the CNWE region accounted for 25% of global crypto activity between July 2020 and June 2021. The region witnessed a surge in transaction volume across all crypto subcategories, especially decentralized finance, or DeFi.

According to De Nederlandsche Bank, Dutch investment funds are the leaders in Europe with an annual return of 7.3% on average over the period 2015 to mid-2021, which is significantly higher than the average 4.6% for the Eurozone. Gold had an average annual return of 10% over the same period. Bitcoin, the best-performing investment of the past 10 years, did much better during this period with an average annual return of a whopping 158%.

At the latest Cardano (ADA) summit, a partnership with ChainLink (LINK) was announced for the Oracle integration, indispensable for the DeFi apps. The Chainlink Oracles provide reliable real-world data to the smart contracts on numerous blockchains and will now also do the same for the Cardano blockchain. A second major announcement is the birth of a new stable coin called Djed. A stablecoin is also important for the use of apps because it can make the transaction costs on the Cardano network lower and predictable. On Monday, Rival, a leading provider of gaming and fan platforms, announced a partnership with the Cardano Foundation. Rival specializes in building communities in the gaming and e-sports space.

According to the latest statistics from El Salvador, the Chivo app now has more than 2.25 million downloads. With 2.1 million active users, the app will soon have more customers than all banks in El Salvador combined. Although there were plenty of technical issues to resolve in the first few days, everything now seems to be running as intended. To boost usage, Salvadorans will be able to refuel $0.20 per gallon cheaper starting this week if they pay with the Bitcoin Chivo wallet. Many Salvadorans receive financial support from relatives from abroad, especially from America. They too can now send Bitcoin to El Salvador from Coinbase or their personal wallet and no longer have to pay high fees to international payment processors.

The small town of Cool Valley, Missouri, lives up to its name. The mayor, Jayson Stewart, plans to give each household $1,000 in bitcoin. The project has now been fully funded through donations. This “airdrop” comes with education to the 1500 residents, who will learn how to use Bitcoin wallets. Everyone will also be incentivized with an extra bonus to HODL the Bitcoin they receive.