Triaconta Weekly #215
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- Market overview
Bitcoin dominance has risen to 45% of the market. Ethereum’s market share has been rising for some time in 2022 and now stands at around 20%. The remaining 35% of the market is shared between altcoins with BNB and XRP at the top. In turbulent times, investments often shift to the most reliable coins and the Big 3 is indeed popular right now.
1 Month: -32.92% | 7D: -3.54% | 24H: +4.53%
1 Month: -48.41% | 7D: -5.05% | 24H: +6.95%
1 Month: -54.95% | 7D: +0.21% | 24H: +7.40%
1 Month: -56.56% | 7D: -9.27% | 24H: +19.58%
Winners & Losers
DeFi projects are found in both categories. The crisis of confidence continues to put pressure on this sector. Kyber Network (+55%), ForTube (+26%) and 0X (+18%) are moving up. However, the road back for these coins is still long. Some positive developments among smaller coins like this week Kava (+15%), Steem (+14%) and JasmyCoin (+10%). Losers are also there as unfortunately the latest addition in the DeFi bundle Convex Finance (-24%), Waves (-23%), Near (-19%) and also another recent addition in DeFi, Thorchain (-17%).
Terraform Labs has made a proposal to start an entirely new Terra blockchain without stablecoin UST and rename the old blockchain to Luna Classic (LUNC). The new LUNA will be distributed via airdrop among Luna Classic owners, stablecoin UST holders and app developers. New tokens may not be sold for two years in many cases. A vote on the proposal is still open for five days. Meanwhile, CEO Do Kwon is being prosecuted in South Korea for tax evasion and fraud, and several parties have filed lawsuits for damages.
Vitalik Buterin indicated at a conference in Shanghai that he expects Ethereum could move from Proof of Work to Proof of Stake in August. That is, if all goes well, as unforeseen problems could delay the switch until October. An important milestone will be reached on June 8 when the merge is done on the test network.
Ripple today announced a partnership with FINCI, an online money transfer provider based in Lithuania, which has become a leading fintech hub and forerunner in digital adoption in Europe. The partnership will support global business-to-business payments through RippleNet’s on-demand liquidity, a service that uses XRP for crypto-facilitated efficient cross-border payments. The partnership has opened a new market for Ripple, as FINCI is the blockchain company’s first partner in Lithuania. Ripple has seen the popularity of its services in Europe soar recently.
May 22 is the annual Bitcoin Pizza day again, celebrating that on May 22, 2010, the first purchase was made with Bitcoin. Laszlo Hanyecz bought 2 pizzas and paid 10,000 bitcoins for them. A bargain in his opinion, since he had mined the Bitcoins almost for free with his computer and a self-written program.