Triaconta Weekly #198

The following topics will be addressed in this weekly.

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance

The market has returned to the lows of four months ago after a significant decline. If we can bounce from here, we’ll be fine. If we go even lower, the correction may take a little longer. Chinese New Year (Tiger) starts February 1st and it usually gets better after that. Meanwhile, user numbers continue to grow, more and more money is flowing into DeFi applications and large investors are investing a lot in projects in the field of the latest trends Gaming and NFT marketplaces. All bundles are currently considerably cheaper now. More on the upcoming revision next week.

Big 3:
1 Month: –23.80% | 7D: -8.06% | 24H: -7.55%

Top 30:
1 Month: -13.37% | 7D: -9.20% | 24H: -8.53%

Penny stock:
1 Month: -16.74% | 7D: -13.21% | 24H: -8.96%

1 Month: -5.07% | 7D: -9.68% | 24H: -8.84%

Winners & Losers

Everything is red on the boards since today. The biggest loss this week for Gala (-26%), and then finally the correction on Internet Computer (-25%). Chainlink (-22%) continues to fall, as do Ravencoin (-21%) and DogeCoin (-21%). The least down this week were Decred (-2%), Tron (-3%), Cosmos (-4%), Theta (-3%) and Cardano (-5%).

If we look a bit further back, two tokens have risen remarkably this month Fantom (in DeFi +54%) and Cosmos (in Top 30 +41%) and with this profit they leave the rest of the market far behind.

Market overview

Cardano has waited a long time to add smart contracts to its blockchain, but now that they are here, they immediately take off. Sundaeswap launched as expected with some issues last night as the first decentralized exchange on the network. The combination of enthusiastic users and sudden volatility in the market caused traffic congestion and slow transaction processing on the network. Fortunately, several improvements are planned in 2022 that will improve the operation of Cardano with smart contracts and heavy traffic. It has been good for Cardano’s price in the past week and they passed Solana in market cap.

Unfortunately, the central bank in Russia wants to ban the use and mining of Bitcoin just like China. After America and Kazakhstan, Russia is the largest supplier (11.2%) of computing power for the Bitcoin network. However, developments in China last year showed that computing power can be moved in a few months and is already at a higher level than before the forced departure from China. In Russia, crypto is actively used with an annual transaction volume of about $5 billion, the bank said, and they feel it may threaten their monetary policy.

Traditional equity investors can now also buy Cosmos (ATOM). 21Shares, the world’s largest issuer of cryptocurrency ETPs, announced yesterday the listing of the first crypto ETP (2.5% annual management fee) for the Cosmos blockchain in CHF, EUR and USD on SIX Swiss Exchange. Cosmos enables an ecosystem of parallel blockchains, including Ethereum and Terra, to realize a decentralized, interoperable future using the Inter-Blockchain Communication (IBC) protocol. Cosmos has now integrated 262+ applications and services, with a total committed value of $155 billion.

Due to the terrible eruption of the volcano near Tonga, it has been completely forgotten that a few days earlier this country also announced that it wanted to start mining Bitcoin with geothermal energy and also wants to follow the path of El Salvador with accepting Bitcoin as legal tender. Much more than in El Salvador, 40% of the money in Tonga comes through islanders who work elsewhere in the world. Huge savings can be made on these transfers if they went through the Bitcoin Lightning Network. For the time being, however, clean drinking water is the first priority and of course there is a Bitcoin donation address.