Triaconta Weekly #290

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
Memecoins are popular and fortunately the PennyStock is full of them. Doge is doing fine, and Pepe and Shiba Inu have even more than doubled this week. Bitcoin (+10%) remains close to its all-time high, which was broken very briefly on Tuesday with a quick 12% drop immediately afterwards. Don’t panic, it’s all part of the game. As expected, the broad-based Top 30 is taking full advantage of the positive market sentiment. European and US central banks are keeping interest rates flat, meaning that the economy is not yet slowed down by relatively high interest rates and thus money is in abundance. Even gold recorded its highest ever price this week.

Triaconta has a service called automatic balancing where profit is periodically taken on the fast risers so that the total bundle value does not suddenly depend almost completely on the development of Pepe coin. The idea behind the bundles is still to spread your risk even when things are going really well.

Big3:
1 Month: +45.20% | 7D: +8.97% | 24H: +1.45%

Top30:
1 Month: +54.81% | 7D: +19.09% | 24H: +1.90%

Penny:
1 Month: +158.35% | 7D: +40.26% | 24H: +4.69%

DeFi:
1 Month: +48.30% | 7D: +9.49% | 24H: +4.28%

Bitcoin halving countdown: 41 days. This figure is a weekly new estimate based on the current blockchain hashrate.

Winners & Losers
Shiba Inu (+158%) narrowly wins over Pepe coin (+155%) this week with once again spectacular gains, befitting a bull market. Shiba Inu did launch a remarkable service that also allows anonymous payments. We are curious to see what European regulators think of this. Former DeFi currency Fantom (+57%) is developing into a major Web 3 player after the Fantom Sonic upgrade in late 2023. Luna (+52%) is in the news for its provisionally successful blocking of the extradition of founder Do Kwon to the US and South Korea. Do Kwon is being sued over the collapse of stablecoin TerraUSD and cryptocurrency Luna that made $40 billion disappear in one fell swoop in 2022. Profit-taking on Spell Coin (-22%) and no other significant declines.

Market overview
In the smart contract field, we distinguish blockchain-specific smart contracts and Ethereum Virtual Machine (EVM) smart contracts that can run on all EVM-compatible blockchains. With increasingly efficient solutions outside Ethereum, more and more EVM contracts are being run on other blockchains. With the Ethereum Dencun update around the corner – which will introduce blob transactions and other infrastructure upgrades – this trend is likely to accelerate. Leading this movement is Optimism, added to the Top 30 in February, which currently stands out as the most popular blockchain for deployments, accounting for more than two-thirds (~70%) of total EVM smart contract deployments so far this year!

AI-related tokens like Fetch.AI (+249% YTD) are in high demand with the approach of the global AI Nvidia conference for developers and engineers on 18-21 March. Fetch.AI is launching an exciting partnership with Peaq to advance the integration of blockchain and AI into the Economy of Things. We learn another new acronym DePIN, which stands for decentralised physical infrastructure networks, combining the expertise of Peaq the advanced AI capabilities of Fetch.ai and the leading IoT technology of another Fetch.AI partner Bosch. Think smart mobility with dynamic charging markets and self-driving energy grids.

Pantera Capital wants to buy $250 million worth of SOL tokens from the bankrupt FTX’s estate with a new fund. According to a Bloomberg report, they will get 39% off the 30-day average price and the tokens will be held for at least four years. So not only will these tokens not be dumped on the market, but this is also good for long-term trust in the SOL ecosystem.

Will PoliFi be the latest trend? It represents the integration of politics and finance in a community. The Donald Trump-themed meme coin, MAGA Coin, has managed to rank in the top 250 after a 236% growth in 1 month with nearly 13,000 coin holders including, of course, Trump himself. The former president’s crypto assets are now estimated at $9 million and consist mainly of $6.5 million MAGA. Also held is $1.3 million Wrapped Ethereum, 1.2 million Ethereum and 900k Baby Trump worth $140,000.