Triaconta Weekly #217
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- Market overview
Bitcoin indeed dipped significantly below its 200-week average on Saturday and fortunately also recovered to about the same price as last Friday. It is the last Friday of the month, when large option contracts on Bitcoin expire, which may influence the current price movement. We remain close to €20,000 and the above average with Bitcoin. The smaller Altcoins recover quite a bit this week, specially DeFi, and that is entirely appropriate.
1 Month: -26.37% | 7D: +4.33% | 24H: +4.19%
1 Month: -23.07% | 7D: +14.64% | 24H: +4.36%
1 Month: -23.80% | 7D: +14.62% | 24H: +4.20%
1 Month: -32.34% | 7D: +19.99% | 24H: +3.25%
Winners & Losers
Synthetix (+71%) is taking full advantage of its cross-asset swap partnership with Curve Finance, and if Curve Finance is doing well, Convex Finance is doing better (+29%). The problems with stablecoins are causing a surge in Reserve Rights (+32%) which allows for insurance as a protection against drops in value of crypto collateral. Coinbase will soon support the Polygon (+48%) network for transfers of Ethereum and USDC. Waves (+44%), Uniswap (+44%), Yearn.Finance (+37%) and Compound (+36%) are recovering substantially this week as it becomes clear that obviously not all DeFi projects can be tossed in the trash. No losers but some underperformers. Slight recovery for Bitcoin (+1%) and Cardano (+2%), which must postpone the Vasil upgrade for a while.
For some time now we have had the EURS stable coin from Stasis and the EURT from Tether which together account for over 300 million Euros. Now the American company Circle Internet Financial, known for the USD Coin (USDC), has announced that they will launch a fully covered stablecoin linked to the Euro on June 30. Despite the recent turmoil in the industry particularly due to partially backed stablecoins, Circle is confident that the market for crypto services will continue to grow, also in Europe.
IOTA is partnering with tech giant Dell, ClimaCHECK and BioE to combat climate change. They are developing a data-driven solution for real-time tracking of CO2 emissions. The solution leverages Dell’s Data Confidence Fabric and the collaboration that has existed for years between IOTA and Dell in project Alvarium which provides for the capture and tracking of IOT data and its reliability from measurement point to cloud server.
Liithos is a newly formed AAA gaming and entertainment studio led by PlayStation veterans, including former founder and CEO of That’s No Moon and head of PlayStation’s Visual Arts Michael Mumbauer and former Bend Studio Creative Director of Days Gone and Syphon Filter John Garvin. Liithos announced today that it is working on its debut title Ashfall, the first true Web 3.0 AAA title for PC, console and the Hedera network.