Triaconta Weekly #252

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
Bitcoin remains above $30k perhaps thanks to better-than-expected inflation figures from the U.S., although the currency also seems to be detaching itself from stock markets and traditional financial markets. The Bitcoin halving is in 1 year and 1 week so is going to show its influence slowly. The big Shappela upgrade of Ethereum has worked out fine and the price has actually risen as a result despite the dire prospect that the release of a lot of Ethereum would cause price pressure. The bundles have all developed positively as a result.

Big3:
1 Month: 25.86% | 7D: 8.39% | 24H: 3.49%

Top30:
1 Month: 9.02% | 7D: 7.27% | 24H: 3.73%

Penny:
1 Month: 8.03% | 7D: 6.54% | 24H: 3.29%

DeFi:
1 Month: 6.14% | 7D: 7.11% | 24H: 3.74%

Winners & Losers
JasmyCoin (+17%) rises after announcement of a JasmyGrant program which selected the first six projects and due to a general crypto upswing in HongKong. Solana (+15%) is doing well this month with the release of a Web3 Android phone. Convex Finance (+11%) and Fetch.ai (+12%) are also rebounding this week. The biggest decliners are Enjin (-14%) and Ontology (-13%) due to profit-taking.

Market overview

On Wednesday, April 12, was the Shanghai/Capella Ethereum upgrade. This upgrade, also known as Shapella, released $34 million of locked Ethereum to the market, and that thought alone should have an impact on price movements. Fortunately, market sentiment is fine at the moment, so all these new tokens are easily absorbed by new buyers so far.

The same happened on that day at Aptos where 4.5 million tokens were unlocked, and that is still 0.45% of the total quantity. Price went up anyway. Next week, on April 17 follow the release of new tokens for Ape and Axie Infinity. On that Monday, an additional 15.6 million Ape tokens will be released. Although only a 1.56% increase, the share price dipped as much as 10% in February on the previous release of 7.3 million tokens. We’ll keep an eye on it. Also on that day, just 3.9 million additional Axie Infinity tokens are available, an increase of 1.45% of the total quantity.

Ripple and the Prime Minister of Montenegro had a promising conversation at the World Economic Forum in Davos in early February. On April 11, the result was published by the Central Bank of Montenegro, an agreement to partner with Ripple to develop a national digital currency. Ripple recently indicated it was in talks with more than 20 central banks about using the XRP ledger. This is a copy of the blockchain that is fully controlled by the central bank in question. Indeed, Ripple knows that because of this, exchange of all these different central bank currencies between different countries will be best done through the public XRP ledger with XRP as a bridge currency.

Consensus 2023, the world’s largest, longest-running and most influential conference for the cryptocurrency, blockchain and Web3 community takes place April 26-28 in Austin, Texas. Since 2015, this has been the conference with the most market impact. I’m sure it’s a coincidence, but almost every year share prices go up significantly in the weeks leading up to, and the two months following this conference. The large list of speakers includes traditional financial institutions, governments, crypto companies of all kinds, Senator Cynthia Lummis, Edward Snowden and, of course, representatives of most of the major crypto currencies.

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