Triaconta Weekly #282

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
What a year! Bitcoin touched € 40,000 today while we started 2023 a little above € 15,000. Next year we will finally get that U.S. Bitcoin ETF after all, and the fourth Bitcoin halving will also bring fireworks for Bitcoin. Also watch out for Bitcoin L2s like Stacks that are taking advantage and together may start to create a second DeFi wave as smart contracts and nfts also become possible on the largest and oldest blockchain. The SEC vs XRP lawsuit will come to a final conclusion next year and the Doge-1 lunar mission launches on Jan. 12. Will Ethereum, Solana or, instead, Cardano capture the most applications, users and developers next year? Will it be the year of Fetch.AI, Shibaverse or a meteoric rise of one of the Web3 tokens? We dare not predict. We are, however, incredibly looking forward to next year and so is the market as we continue to hover at the highest levels.

This is the last newsletter of the year so the next one will be coming out on January 5. We wish everyone happy holidays and fantastic returns in 2024.

Big3:
1 Month: +13.05% | 7D: +0.19% | 24H: -0.06%

Top30:
1 Month: +35.95% | 7D: +6.00% | 24H: +2.76%

Penny:
1 Month: +43.20% | 7D: +4.82% | 24H: +3.83%

DeFi:
1 Month: +51.16% | 7D: +4.79% | 24H: +0.56%

Winners & Losers

Near Protocol (+51%), Solana (+17%) and Stacks (+28%) are the most mentioned on social media this week which seems like FOMO because of the good returns over the past year. Internet Computer (+40%) launches a European subnet which complies with the all data protection rules of GDPR. Injective (+26%) has become the most successful addition to the DeFi bundle with a quadrupling in just 10 weeks. Still, a few losers as well. Nano (-14%) is the biggest decliner after last week’s huge rise. Aave (-13%) is struggling at the $100 level and profits are being taken on IOTA (-10%).

Market overview

Blackrock is complying with the SEC’s wishes for the Bitcoin ETF and is only allowing sales into dollars. This will soon mean more volatility in the price of Bitcoin because a very large buyer/seller will join in. “Soon” is possibly Jan. 10 or more likely sometime in March.

2023 was the year of Solana. Of the offerings on our platform, the coin is by far the biggest riser this year, with over 700% returns for Top30 and loose SOL holders. Solana beat Ethereum for the first time this week in daily DEX volume and NFT turnover, and was already a winner in numbers of active addresses and transactions. The project is also managing to attract more and more developers. Next year, the new Firedancer validator client will go into production. This next-generation validator application validates and processes transactions faster, increases scalability and supports more network decentralization. In the latest demo, the validator processed 1.2 million transactions per second. A big improvement on the current 8,500 transactions per second with which Solana already outperforms most networks.

The crypto community’s confidence in Argentina’s new president is being rewarded. He promised to quickly implement a libertarian economic agenda. More than 350 economic deregulations are in effect this week, aimed at removing old and new barriers to trade and promoting economic growth. One of these new regulations is the acceptance of Bitcoin and other crypto currencies as legitimate means of payment for contracts.

Charles Hoskinson, CEO of Cardano, looks fondly on X at all the concerns circulating about Cardano’s full blocks. He recalls that for years it was claimed that his blockchain would be a ghost chain, that it would have no utility or function. Suddenly the problem is precisely that it is too crowded? It is a luxury problem and endorses that if you build something good very slowly and carefully, the users will come eventually.

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