Triaconta Weekly #240

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
The very welcome upswing in the crypto market continues, but we cannot yet speak of a trend reversal. For that we are still too far below the moving averages. Almost all bundles do show double-digit growth rates this week. For now, the PennyStock bundle is taking the lead this year with the Gala token more than doubling this week. Confidence in DeFi also seems to be cautiously returning, with market leader Avalanche contributing significantly to the returns of the Top30 and the DeFi bundle with a 42% increase this year.

Big3:
1 Month: +3.52% | 7D: +9.88% | 24H: +2.15%

Top30:
1 Month: +2.99% | 7D: +17.30% | 24H: +3.28%

Penny:
1 Month: +8.19% | 7D: +30.78% | 24H: +5.64%

DeFi:
1 Month: +15.00% | 7D: +25.15% | 24H: +4.53%

Winners & Losers
Penny Stock component Gala Games (+110%) acquires mobile gaming studio Ember, more on this in the market overview. Fetch.AI (+96%) is putting up another excellent week on expectations that artificial intelligence (AI) is going to boom this year as reports emerge that Microsoft is planning to make a massive investment. This would involve $10 billion in research company OpenAI, known for ChatGPT. Lido DAO (+46%) continues to outpace rival Maker DAO with crypto assets locked up on its platform. Penny Stock Zilliqa’s price increase (+45%) goes hand-in-hand with the launch of a new app and a huge increase in trading volume. There were no losers this week among our crypto currencies.

Market overview

It has recently become possible to buy Gala games directly from millions of Coinbase wallets. It was also announced last Tuesday that Gala Games has acquired Seattle-based mobile game studio Ember Entertainment. Gala expects to attract a large number of their 20 million mobile customers to blockchain games. The expansion from desktop games into the growth market for mobile games naturally caused a big surge in the price. Or was it still Wednesday’s news that the other component Gala Films is working with Dwayne Johnson aka The Rock and Mark Wahlberg to make two movies? The Gala ecosystem is always working to connect the various components so expect a QR code on your movie ticket soon that will allow you to claim an NFT that you can use in a game or allow you to listen to the movie music via Gala Music.

Bitcoin has been around for 14 years and it is clearly being celebrated with new purchases and a rising price. We are trying to break the $19,000 and maybe $20,000 mark this week. The first and largest blockchain has sent $8.2 trillion worth of transactions over the network in the past year. That is less than the $13 trillion in the peak year of 2021 in which the currency also rose 80%. Still, we see a marked improvement from the 2017-2020 period when annual volume remained around $2 trillion. Bitcoin dropped significantly in 2022 and at the beginning of 2023 was at about the same level as the beginning of that peak year 2021. Will history repeat itself?

The South by Southwest (SXSW23) festival in March in Texas will feature an exclusive preview of the first part of Shib The Metaverse. The festival annually brings together music, film and tech enthusiasts. WAGMI Temple is the first of eleven hubs in the Shiba Inu metaverse that is nearing completion. WAGMI stands for “We’re all going to make it” and is often used on social media as reassurance when the Shiba Inu token price drops hard yet again. This year, however, that is certainly not the case. The temple includes a journey through the history of Shiba Inu and access to digital services and experiences.

What is market capitalization? If we multiply the price of a company’s stock by the price paid for that stock, we arrive at the total value the company is worth according to the market. You can also determine this market capitalization for cryptocurrencies by multiplying the price of the token by the number of tokens issued by the blockchain. It is the most important figure for compiling the Top 30 bundle and the DeFi (top 10) bundle. Since new cryptocurrencies are fairly easy to create yourself, you have to be careful with that. After all, you can create 100 million tokens and sell a few to yourself for a euro and your token suddenly has a market capitalization of hundreds of millions of euros. Hence, we also keep a really close eye on trading volume. Still, it is one of the most useful figures to compare crypto projects with each other and with ordinary companies. For example, Bitcoin’s market capitalization is not only larger than Ethereum’s, but this week it is also larger than Mastercard’s and Facebook’s.