Triaconta Weekly #234

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
The total market capitalization of digital assets fell below $800 billion this month, a level not seen since early 2021. Prices may fluctuate but crypto projects continue to develop, report collaborations and try to align with new financial legislation. We see the major crypto projects being picked up cheaply by those who suspect that the bottom of this market cycle is near or already in place. Confidence in a favorable and rapid price development of crypto has certainly fallen this year but confidence in the technology and its application worldwide just continues to grow. We see each crisis shift investors’ focus more and more from pure speculation to coins with real-world applications.

1 Month: -18.07% | 7D: -4.20% | 24H: 1.93%

1 Month: -19.68% | 7D: -9.15% | 24H: 1.29%

1 Month: -21.15% | 7D: -10.24% | 24H: -0.02%

1 Month: -26.00% | 7D: -9.21% | 24H: 1.13%

Winners & Losers
Positive this week are Lido Dao (+6%), which is now also listed on Coinbase, ThorChain (+5%), Axie Infinity (+5%), JasmyCoin (+4%) and Hedera (+3%). A good portion of crypto trading has shifted to decentralized platforms which is going to help the DeFi sector get out of the doldrums. The market remains pessimistic about possible dumping of large amounts of Solana (-18%). Play to earn is losing users and revenue in Decentraland (-15%). It’s not yet black friday but hefty discounts when buying Top 30 projects Cosmos (-13%), Polygon (-13%) and Near Protocol (-14%).

Market overview
Buy 1 whole Bitcoin every day. It is the latest resolution of President Bukele of El Salvador. A kind of dollar cost averaging on the scale of a country. With the current price, high volatility and, of course, an optimistic expectation of the future for Bitcoin and El Salvador, this is an appropriate strategy.

At Ripple’s sixth annual Swell conference, CEO Brad Garlinghouse revealed that $30 billion in crypto and fiat payments have now been processed through RippleNet and, after Europe, the company is now active with XRP in Africa. The new partner MFS is the largest service provider in Africa for mobile payments and Ripple will help improve the cross-border payments. Africa currently represents 70% of all real-time mobile payments in the world. With this, Ripple is active with RippleNet and XRP in 40 countries.

Cardano founder Input Output Global is investing $4.5 million in the blockchain research center at the University of Edinburgh. The center will allow university students and researchers to focus more on basic research and also give researchers working outside blockchain technology the opportunities to explore this field. Cardano has previously supported research and development regardless of market conditions and remains closely tied to academia.