Triaconta Weekly #184

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. This time around, investors are holding onto all-time highs and not selling, as they did towards the end of the first quarter. The bundles also all performed well, especially the Big3 thanks to Bitcoin (+15%).

Big 3:
1 Month: +13.72% | 7D: +19.23% | 24H: +1.58%

Top 30:
1 Month: +14.74% | 7D: +14.70% | 24H: +0.73%

Penny stock:
1 Month: +26.90% | 7D: +16.93% | 24H: +0.62%

1 Month: +24.91% | 7D: +11.49% | 24H: +2.79%

Winners and Losers

Hola Quarkchain (+140%) recently voted one of the best startups in San Francisco is taking the most profit this week and we didn’t see it coming. The coin was in the PennyStock until July 2019 and then went dormant until 2021. Still nice profit for Siacoin (+28%), Steem (+27%), Ontology (+25%) and Theta (+24%). And hardly any losers/corrections for Avalanche (-6%), (-3%) and Cosmos (-2%).

Market overview

Grayscale Investments, the major US cryptocurrency asset manager, is adding Solana and Uniswap to its Digital Large Cap Fund. This fund for certified US investors already includes Bitcoin, Ethereum, Cardano, Chainlink, Litecoin and Bitcoin Cash.

While the SEC has already postponed approval for one of the US Bitcoin ETF applications until the end of the year, there is now the Volt Bitcoin Revolution ETF that invests in listed companies that have a lot of Bitcoin on their balance sheets, such as MicroStrategy and Tesla.

El Salvador is well ahead with its Bitcoin purchases. The country’s 700 BTC is now worth over $37,000,000.

We see it often, the Bitcoin price follows the hashrate, or is it the other way around? Just three months after the world’s second-largest economy shut down some 50% of all bitcoin miners, bitcoin’s hashrate is back to nearly as high as it was before. US-listed bitcoin mining companies appear to be holding their Bitcoin for now and have collectively stored more than 20,000 BTC.

A very special development this week in the lawsuit between the SEC and Ripple over whether the sales of XRP are securities transactions. It has never happened before that the very people the SEC is tasked to protect have organized themselves against a lawsuit from the SEC. Attorney John Deaton asked the judge on behalf of 22,000 XRP buyers if they could also make their voices heard in this case, and this was granted. Investors have a strong interest in the outcome of the case and did not feel represented by the SEC, which has already cost investors $15 billion due to the sharp fall in prices and the forced shutdown of trading on US exchanges. As amicus curiae (friend of the court) they can now make their voice heard through John Deaton and their opinion counts in the final verdict. The SEC, which is supposed to protect investors, was against this input and found, strangely enough, that investors’ interests were already represented by the indicted party, Ripple.