Triaconta Weekly #195
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- Market overview
Bitcoin dropped below $50,000 again this week and Ethereum also fell below $4,000 as the stock markets once again set higher highs. It is now a well-known pattern that large investors prefer to be in equities around the turn of the year and immediately return to the crypto currency in the first week of January. So this week all bundles are negative.
1 Month: -16.15% | 7D: -8.25% | 24H: +2.78%
1 Month: -12.54% | 7D: -4.13% | 24H: +3.45%
1 Month: -20.41% | 7D: -2.64% | 24H: +2.14%
1 Month: -6.27%| 7D: -4.01% | 24H: +5.06%
Winners & Losers
ForTube (+19%) has enough left over from this week’s rally to lead the way, closely followed by another blockchain bank Algorand (+15%). Fantom (+13%) is fortunately continuing its recovery and IOTA (+10%) is benefiting from the growth in DeFi because the parallel processing in this blockchain is very suitable for decentralized exchanges.
Losers this week are Ren (-16%), QuarkChain (-15%) and ICON (-13%) but also Top 10 coins XRP (-13%) and Avalanche (-13%) are ending the year with a decline / are on sale.
The best cryptocurrency to have this year was Polygon(MATIC). The then PennyStock coin was worth only €0.015 at the beginning of 2021 and was promoted to the Top 30 bundle at the end of July around €0.85. Today we see a stand of € 2.30. An increase of more than 150 times in 1 year.
ForTube (FOR) has taken an important step towards decentralizing the governance of the project. After two years of safe operation and major technical upgrades, the time for decentralization has finally arrived. On December 28, a new governance structure, the FDAO, was launched to balance ForTube’s revenue, risk-taking and other project governance decisions. Ultimately, the FDAO will ensure a completely decentralized administration. The news was well received with a doubling of the price, which unfortunately immediately resulted in a lot of sales, causing the price to lose a lot of its momentum.
Ripple’s legal battle with the US regulator SEC has lasted for a year this week. Still, the Ripple company can look back on its strongest year to date. The on-demand liquidity platform saw a 25x growth in the number of transactions and a significant increase in the number of partner countries on the RippleNet. In Europe and Asia, there is no doubt about the status of the XRP as a bridge-currency that allows the exchange of other currencies, both fiat money and cryptocurrencies. The price of the XRP token is still lagging because there is no trading in America and the ongoing uncertainty until the judge’s ruling, which is expected in Q1 2022 or an earlier settlement between the two parties.
The founder and CEO of Pantera Capital, a digital asset investment firm, Dan Morehead, is optimistic about Polkadot (DOT), a platform designed to enable interoperability between different blockchains. He is convinced there won’t be just one blockchain in the future. There will be maybe 10 or 20 very important blockchains. And so Polkadot will help move value from one to another. Polkadot will launch their DeFi protocols in the first quarter of 2022 and is already a top 10 cryptocurrency. Just over a week ago, Deutsche Telekom announced its intention to become a Polkadot validator. A subsidiary of Deutsche Telekom, T-Systems MMS, also purchased an undisclosed number of DOT tokens.
It was a good year for MicroStrategy. The company specialized in providing business intelligence software. CEO Michael Saylor decided to invest in Bitcoin (BTC) last year and is now the largest corporate Bitcoin owner. He saw his 2,000-employee company, despite hard work, make less profit than it lost to inflation on its $500 million cash reserve. He decided to convert the reserve into Bitcoin and made much more profit with it than with the business. MicroStrategy has subsequently attracted money from other investors to buy even more Bitcoin and also the profits from the company are converted into Bitcoin. The company closed the year with 124,391 Bitcoins on its balance sheet purchased for ~$3.75 billion and now worth almost 6 billion. That’s more than $2 billion in profit since their first purchase in August 2020. Many more companies have since acquired Bitcoin as part of their cash reserve, but they are not as outspoken about it as Michael Saylor.