Triaconta Weekly #201

The following topics will be addressed in this weekly.

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance

Eleven years ago, Bitcoin broke through the $1 barrier this week and look where we are now. This week again, almost all crypto is going up considerably. Especially PennyStock (Gala games) and all Big3 crypto with XRP in the lead rise significantly this week. The crypto market was only briefly shocked this time by the enormous 7.5% inflation in America (highest in 40 years) and then went its own way. Unfortunately, just like Tuesday, Bitcoin just fell short of €40,000 and is now moving sideways.

Big 3:
1 Month: +3.76% | 7D: +18.38% | 24H: -4.10%

Top 30:
1 Month: -9.94% | 7D: +13.48% | 24H: -4.07%

Penny stock:
1 Month: -7.51% | 7D: +16.87% | 24H: -4.91%

1 Month: -17.80% | 7D: +9.33% | 24H: -4.69%

Winners & Losers

Gala (+74%) shot up this week due to high demand for tokens for the latest game Spidertanks. Theta network (+36%) on the rise by adding video tracking and payments with Replay to their Web 3 video platform. XRP (+30%) due to developments in the lawsuit, which makes experts believe that the SEC’s lawsuit is less likely than previously thought, which increases the chance of a settlement. Axie Inifinity (+27%) due to significant purchases from major Ethereum owners according to Whalestats. These so-called Ethereum Whales apparently expect that the bottom has been reached. Maker (-9%) is the only significant loser, correcting for the 40% increase that started at the end of January.

Market overview

The US government already possesses the highest number of bitcoins of any country in the world due to seizures. On Tuesday it was announced that the American justice system also seized 94,000 bitcoins of the 120,000 bitcoins stolen from crypto exchange Bitfinex in August 2016. In a statement, they emphasize that this proves once again that cryptocurrencies are no safe haven for criminals. The damage from the theft in 2016 was $72 million, the value of the same coins today is more than $4 billion. It is still unclear whether the bitcoins themselves will be returned to Bitfinex or to the former customers.

Support for the iPhone’s “Tap to Pay” feature with Apple Pay is being extended to contactless credit and debit cards and other digital wallets. This creates the opportunity to use Bitcoin and other cryptocurrency to make purchases at many stores and services.

KPMG Canada has added Bitcoin and Ethereum to its balance sheet. Even more than Tesla and Microstrategy, this is a message to other companies and pension funds to consider this as well. If the rumors are true, the largest asset manager Blackrock ($9.5 trillion under management) will soon make it possible to invest in crypto and to invest with crypto as the underlying asset.

After Play to Earn in gaming, there is now Listen to Earn in Gala Music. The platform gives artists complete freedom to distribute their work as music NFT via the Gala blockchain. Well-known artists can support and showcase newcomers. For the ultimate fans of certain artists and record labels, there are Fan Nodes for sale in limited edition comparable to a VIP Backstage pass. These unlock exclusive NFTs, hidden songs, secret fan experiences, as well as higher rewards when paired with music NFTs from the artist or label.

The European Union is making haste and is announcing that it will introduce a law for a digital Euro at the beginning of 2023. There is much concern about the growing market share of stablecoins (fixed-value crypto coins in fiat usually pegged to the dollar). Most governments do not want stablecoins to affect the sovereignty of national currencies, and thus also want to restrict the use of stablecoins. Hopefully there will be enough time to consider the significant privacy concerns of tracing and monitoring all transactions with a digital Euro.