Triaconta Weekly #276

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
November has historically not often been a good month, but it can hardly go wrong in this year. Bitcoin ($37k) and Ethereum ($2k) are shooting up through key resistance levels in the first week of November and, at the same time, many altcoins are doing very well. That combination is rare and super positive.

1 Month: +31.60% | 7D: +10.09% | 24H: +1.33%

1 Month: +43.77% | 7D: +16.54% | 24H: +0.76%

1 Month: +64.67% | 7D: +25.76% | 24H: +2.24%

1 Month: +67.84% | 7D: +25.34% | 24H: +2.14%

Winners & Losers
No losers this week, and lots of big winners in each group.

DeFi: Lido DAO (+25%), as reported last week, is benefiting fully from the rise in Ethereum prices, and something strange is going on with ChainLink (+34%). You can read about that in the market review.

Penny: JasmyCoin (+38%) suddenly pops up but this could be speculation as there is no major news yet. The Graph (+23%) is doing well as predicted in the DeFi uptrend and Gala (+31%) is also happily continuing its recovery. Pepe (+16%) more than makes up for last week’s loss on positive sentiment in the market.

Top 30: Also benefiting from Lido DAO and Chainlink and benefiting from the general rise in the whole market. Special mention for Solana (+26%), which has already quadrupled this year.

Currently not (anymore) in bundles: Rocket Pool (+37%), like Lido DAO, benefits from increased value captured on the blockchain and increased number of transactions. MultiverseX (+34%) continues the rise that started with the xDay conference on all the opportunities for this coin in the new European MiCa regulation for crypto. Neo (+26%) also after announcing the latest developments at the Neo Community Assembly in Hong Kong.

Market overview

Grayscale allows institutions to buy crypto through the trust funds they offer. It is not possible for many of their customers to buy crypto on the open market due to financial regulations, and it also saves them from searching for a safe depository. If demand from institutions exceeds supply, the price of such a trust fund can rise higher than paid for the same crypto in the free market. For example, the premium for their Bitcoin fund once ran to more than 40%. The same is going on with Chainlink now, only the demand is so high that an extra 200% is being paid. In the Grayscale LINK Trust, people paid $44.11 on Thursday for tokens that now cost $15 with us.

The Graph will roll out new blockchain data services, including AI-enabled queries. There will also be new services for streaming data and a solution for historical data on the Ethereum blockchain that will soon be less accessible after a tweak. Living up to its Google of Web3 nickname, The Graph is also in the final stages of moving from Ethereum to Arbitrum for lower transaction costs and faster transaction processing.

A new payment network in which 90% of current international transfers could be processed has been presented on Ripple Swell. Ripple has obtained enough payment licences in several countries to be able to perform this for other companies if they do not have a licence themselves. So these transactions are in addition to the banking transactions that Ripple Payments (formerly RippleNet) can perform faster and cheaper for banks, which do have such a licence themselves.

Ethereum finally managed to break through the $2000 resistance this week with the help of the Blackrock Ethereum ETF application. As with the Bitcoin ETF, one expects a big increase in demand for this crypto after SEC approval. Also, this new application probably indicates positive developments around their Bitcoin ETF application.

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