Triaconta Weekly #250

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
The ongoing banking crisis has so far produced interesting winners and losers. Investors are flocking to more safely assumed assets such as gold and now apparently Bitcoin. The yellow metal shot up to $2,000 per ounce. Bitcoin broke through the $28,000 level for the first time since June 2022 and is the best-yielding investment of 2023, according to Goldman Sachs. In the bundles we see the same thing, no one is selling their Bitcoins and short-term investors are taking profits on the altcoins. The Big3 this week is the only positive and the other bundles are taking a step back after last week’s double-digit growth.

Big3:
1 Month: +11.54% | 7D: +5.72% | 24H: +1.87%

Top30:
1 Month: -12.56% | 7D: -2.94% | 24H: -0.07%

Penny:
1 Month: -19.21% | 7D: -5.62% | 24H: -0.70%

DeFi:
1 Month: -13.91% | 7D: -4.83% | 24H: -1.96%

Winners & Losers
Strange rise in OMG Network (+42%) with no news in recent months except that Coinbase will stop trading this coin as of March 29. Celer Network (+35%) has been showing an excellent rise for two weeks altough it is also not clear whether this is due to the success of the cBridge swaps or the approximately $0.9 million they received from Arbitrum in the recent airdrop. The main riser is XRP (+14%) as more and more investors expect a decision in the lawsuit with the SEC any day now. Litecoin (+11%), the oldest crypto currency after Bitcoin, passes newcomer Shiba Inu in the ranking by market capitalization. There were many declines this week with familiar names usually among the big risers. These waves are characteristic of crypto and nothing goes up in a straight line. Fetch.AI (-15%), Cosmos (-13%), Synthetix (-12%) and even the now largest liquid staking provider Lido DAO (-12%) are down this week due to profit taking.

Market overview

The verdict in the Ripple – SEC case, which is expected soon, may well mark a turning point in crypto market regulation, according to many. A win for the SEC would make Chairman Gary Gensler the most powerful regulator over crypto in the U.S., giving him carte blanche to declare just about any digital currency, perhaps even Bitcoin, an unregistered security and then sue the founders and/or users. A victory for Ripple would make XRP the first cryptocurrency that is officially not a security and likely cause a price explosion with this currency. However, the SEC will almost certainly appeal this and that could drag the case out for years to come all the way to the Supreme Court. A third possibility is that the judge decides to let a jury decide it and then it’s going to take several months at least and possibly more than a year. That’s certainly not the clarity investors would like to see soon. What Ripple still holds in reserve in the event of a loss is the so-called “Fair Notice Defense,” meaning Ripple could never have known they+ were wrong more than 10 years ago if even today the SEC does not clarify which crypto is or is not a security and why. That’s probably enough defense for Ripple not to be fined, but this does nothing to benefit the XRP owner. Hope for a good outcome is there though given this week’s surge.

Penny stock Zilliqa plans to launch a new EVM on their own blockchain that is fully compatible with the well-known Ethereum Virtual Machine. After Fantom and Filecoin, it seems to be becoming a trend, after all, to run the execution of smart contracts and DApps on their own blockchain and also here to become faster and better than Ethereum as already succeeded for transactions. The EVM is currently still running on the test net and developers are invited to migrate their DApps to Zilliqa. A launch on Zilliqa’s network is expected during the year.

In April, the Solana Mobile Saga phone will be released. The phone will have a direct link to the Solana blockchain and a secure vault for your crypto. The phone will come with a dApp store and unique features for DeFi, NFT and other Web3 innovations. Unlike Apple’s App store and Google’s Play Store, which charge 30% for all transactions, the Solana store will be free to use and use Arweave, a decentralized file storage protocol, making it resistant to censorship.

The founder of Terra (LUNA) was arrested in Montenegro while trying to board a plane to Dubai with a fake Belgian passport. Do Kwon was wanted in 195 countries while he himself continued to adamantly deny via Twitter that he was on the run! In both South Korea and the US, Kwon has to answer for the crash of the Luna project last May in which $60 billion was lost, which had far-reaching consequences for millions of people and a number of major other crypto companies. Prices of the successor Terra(Luna) and the original Terra Clasic (Lunc) have not reacted to the arrest.

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