Triaconta Weekly #293

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
The end of the 1st quarter of 2024 and optimism is already back in the altcoin market. We are seeing double-digit growth rates again for Top 30 and PennyStock, as well as increased price movement up and down. The London Stock Exchange is going to allow Bitcoin funds, as if the No. 1 still needed help to climb. Bitcoin funds in the US declined for a few days in a row but are now registering growth again. Ethereum and other funds must wait until May for possible approval by regulator SEC after a postponement decision. Due to the holidays, all investors can only go to the crypto market, as it is always open. How much longer? We see the beginning of a merging of traditional finance and digital assets by major investment companies that could become defining for the future of investing.

Big3:
1 Month: 7.23% | 7D: 5.29% | 24H: -0.58%

Top30:
1 Month: 20.33% | 7D: 10.30% | 24H: 0.42%

Penny:
1 Month: 47.07% | 7D: 11.85% | 24H: -0.11%

DeFi:
1 Month: 18.62% | 7D: 5.67% | 24H: -0.33%

Bitcoin halving countdown: 22 days. This figure is a weekly new estimate based on the current blockchain hashrate.

Winners & Losers
Even crypto veterans are suddenly becoming attractive to investors again. Bitcoin Cash (+54%), could it have to do with the Bitcoin Cash halving tentatively scheduled on April 2? Dogecoin (+47%) on rumors that it will handle payments on X (formerly Twitter) after all, and even Litecoin (+29%) is rising above $100 again. The biggest riser this week is former PennyStock Ravencoin (+91%). This Bitcoin fork specializes in the creation and trading of tokens. The crypto sector’s growing interest in tokenization (of RWAs) may explain the interest in this coin. Internet Computer (+35%) has finally broken out upward after a prolonged sideways move. The project will open the multichain technology exchange in Zurich on April 4, 2024. The only significant decliner this week is Fantom (-12%) due to some profit-taking after its fantastic rise last week.

Market overview

Aiaiai, something big is about to happen at the intersection of Crypto and AI. The three largest AI blockchains Fetch.AI, SingularityNet and Ocean Protocol are going to merge into a new joint blockchain. The projects aim for a similar goal: the development of a decentralized AI protocol based on blockchain technology that is not owned by a single party or large shareholders.If all token holders agree, the new collective will be led by Ben Goertzel, founder of SingularityNet. The current CEO of Fetch.ai, Humayun Sheikh, will become the new chairman. The new token of this Superintelligence Alliance ($ASI) is likely to receive an immediate Top 20 listing due to its combined value. More information can be found here.

The growth of tokenized real-world assets (RWAs) such as recent U.S. Government bonds on blockchain platforms has already reached the $1 billion milestone. Investors are gaining confidence in the stability and security of blockchain-based tokenization of traditional assets, which until now have only been traded through stock exchanges. The best-known examples are Franklin Templeton’s OnChain U.S. Government Money Fund on the Stellar network and BlackRock’s new U.S. Treasury Fund built on Ethereum. Wisdom Tree also now offers access to tokenized gold and other commodities on both Stellar and Ethereum. A conservative estimate of this market by 2030 is about $16 trillion.

Wouldn’t it be convenient if you could keep track of all your bank accounts at different banks in 1 app. In the blockchain world, Near Protocol is going to make this a reality with Chain Signatures. From your Near account it will be possible to make transactions on other networks, for now only Bitcoin, Ethereum, XRP, Dogecoin and Cosmos. Developed by the Near Foundation, a Swiss nonprofit organization, this allows blockchains (even those without smart contracts like Bitcoin) to be used interchangeably for collateral or payments and other DeFi solutions.