Triaconta Weekly #236

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
The last revision of the year has been completed. 2023 will be a year of better regulation which will bode well for those parties who have their affairs in order and hopefully ensure the return of confidence. Meanwhile, we are also ready for a new period of increases because the downturn now lasts about as long as the previous big declines in recent years. Despite hefty shifts of capital from one crypto to another, the overall market is moving sideways this week and thus little new money came in. Onward to 2023.

Big3:
1 Month: -3.82% | 7D: 0.34% | 24H: 2.18%

Top30:
1 Month: -9.62% | 7D: -1.03% | 24H: 2.06%

Penny:
1 Month: -11.82% | 7D: -1.42% | 24H: 2.14%

DeFi:
1 Month: -8.01% | 7D: -2.26% | 24H: 2.83%

Winners & Losers
Fetch.AI (+67%) wins this week following a successful upgrade of their wallet to 0.5 or the new interest in the power of AI due to the hype over ChatGPT. Axie Infinity (+14%) left the Top30 bund with a suddenly much higher share price which is nice. Synthetix (+11%) rose to a top 10 spot in the DeFi bundle. Ren (-15%) was the biggest loser after Waves (-14%) and PennyStock JasmyCoin (-13%). Chainlink (-9%) corrected somewhat on its two-week rise.

Market overview
Mathew McDermott, Goldman’s head of digital assets, said in an interview with Reuters last month that the investment bank sees “interesting” investment opportunities at “reasonable prices” to pick up crypto companies. He added that the downturn in FTX has eroded confidence and set the market back, but the value of the underlying technology has remained intact. Goldman Sachs plans to spend millions of dollars buying or investing in undervalued crypto companies because it sees long-term market opportunities right now.

Chainlink’s oracle network already has a unique and dominant position in the traffic between blockchains and the real world. It is not a very big step to also store this data or perform calculations on it to increase the value of the data that is already being collected anyway. That is the plan for Chainlink 2.0 as the smart intermediate layer for all kinds of markets, defi, games, social media, climate and basically all applications where real-world data is necessary. The new Web3, a decentralized Internet based on blockchain technology, cannot really be imagined without Chainlink.

Last week you could read about Quant (+7% since revision) working with Oracle and Amazon WS and Quant being integrated into the Oracle Blockchain platform. It has just been announced that the Pentagon is going to invest nine billion dollars in these companies for new enterprise-wide globally available cloud services. Surely it’s almost inevitable that Quant will benefit from this. Quant champions integrating data and services from different systems.