Triaconta Weekly #227
The following topics will be addressed in this weekly:
- Bundle performance
- Winners & Losers
- Market overview
The crypto market is moving sideways with new interest rate hikes still in the pipeline for both America and Europe. After years of preparation, the Ethereum Merge was technically a resounding success and Ethereum maintained an uptime of 100% as was very optimistically predicted. Economically, however, the currency dropped considerably once the merge was a reality. As a result, Ethereum lost ground against Bitcoin, which also fell. Still, the Big3 bund is the highest riser this week thanks to a hefty rise in XRP.
1 Month: +3.11% | 7D: +11.30% | 24H: +6.07%
1 Month: -3.33% | 7D: +3.54% | 24H: +2.78%
1 Month: -16.00% | 7D: -3.45% | 24H: +1.49%
1 Month: -12.55% | 7D: -1.68% | 24H: +0.87%
Winners & Losers
The lawsuit against Ripple has entered the final phase and investors in XRP (+47%) are apparently very optimistic about the outcome or expect a quick settlement. Reserve Rights (+30%) is launching its own network for asset-backed currencies on Oct. 10. Algorand (+24%) is getting a lot of new users with the launch of the official FIFA World Cup NFTs. Stellar (+18%) benefits as usual from the rise of XRP and finally ApeCoin (+15%) due to new interest in Gaming and Metaverse. Unfortunately, there were also some big declines such as Kyber Network (-38%) and all Ethereum mining alternatives Ravencoin (-25%), Ethereum Classic (-19%) and Quarkchain (-18%).
Last Saturday, both the SEC and Ripple filed their motions for Summary Judgment over whether Ripple with XRP is guilty of selling securities without the required registration. The claim by both sides is that the law already vindicates them and is clear enough. Then a continuation of the lawsuit is not necessary and the judge can immediately decide in their favor. That will most likely not happen but it does mean that we are done with the phase of gathering evidence, consulting experts and writing down arguments. Now the trial really begins and the market is clearly anticipating a victory for Ripple.
Thursday the Vassil upgrade took place on the Cardano (ADA) blockchain which is also celebrating its fifth anniversary. Especially for developers, there are interesting improvements and enhancements that make building more efficient and execution faster and cheaper. An “epoch” (five days) after the upgrade, the enhancements will be available and increased throughput and network capacity will also be noticeable. With the increase in the number of active smart contracts on the Cardano network, this was much needed. The market is still waiting to see it all as the price of ADA has been moving sideways around €0.50 for four months now.
Starting in early 2023, Zilliqa gaming consoles will be available for Web3 gaming. In addition to its function as a game console, it will offer users access to a private Web3 wallet, a private marketplace to trade in-game items and the ability to earn rewards and mining ZIL. Zilliqa is also releasing two of its own games and aims to become the Steam, PlayStation and Nintendo for Web3.