Triaconta Weekly #296

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Market overview

Bundle performance
Bitcoin is moving sideways with only the PennyStock making a jump this week due to Pepe coin. Bitcoin ETFs are a bit less popular but there is also little outflow. Next week we expect them to become tradable in HongKong as well. The market is counting on a first rate cut by the ECB in June. For America, the chances of a cut in June have fallen due to persistent inflation and there they are now counting on September. Next week the Fed will meet again and there may be more news. As expected, the Bitcoin halving went off without a hitch and other than sharply increased transaction costs in the first few days after, little seems to have changed.

1 Month: -12.10% | 7D: -0.02% | 24H: +0.96%

1 Month: -23.28% | 7D: +1.70% | 24H: 1.06%

1 Month: -17.04% | 7D: +10.21% | 24H: 2.10%

1 Month: -32.88% | 7D: -0.88% | 24H: +0.14%

Winners & Losers
Pepe (+43%) is not suffering from all the Bitcoin halving attention and may rise on the start of PEPE futures on Coinbase. Hedera (+33%) blockchain is going to register tokenized Blackrock funds. Near Protocol (+24%) is the best-known AI blockchain after Fetch.AI and is benefiting from AI investments from Facebook, and good results from Microsoft and Google, partly due to demand for their AI services. Going less well this week were Top 30 coins Injective (-9%), Aptos (-8%) and Arbitrum (-8%). This is general market sentiment as Arbitrum has substantial increasing trading volume, Injective just released 3.0 with many improvements, and Aptos announced it is working with Microsoft and SK Telecom on Aptos Ascend, a suite of multiple institutional solutions.

Market overview

Triaconta joins forces with ICONOMI to conquer Europe! For our customers, the acquisition means that the Triaconta dashboard will be upgraded, rebranded, will offer more and better services and there will finally be a mobile app to check your crypto holdings. Furthermore, next month we will add crypto deposit and withdrawal to our services and will apply for a European MiCAR license.

Tokenization of shares via blockchain is a hot topic. Hedera’s share price shot up 100% when it was announced that the Blackrock ICS Treasury fund would become available as tokenized shares on the Hedera blockchain. Many investors thought that Blackrock had come up with this themselves but it turns out to be blockchain companies Archax and Ownera who, by the way, officially notified Blackrock and had received no objections.

The first satoshi mined after the Bitcoin halving was auctioned for 33.3 BTC or $2.1 million for its alleged collector value. Thanks to the new Ordinals protocol, each satoshi is individually recordable on the Bitcoin blockchain. The first block was mined by mining pool viaBTC, which has been processing Bitcoin transactions since 2016.

There is apparently some confusion about Runes. The price of Thorchain, a blockchain with Rune as a token, rose nearly 20% right after the Bitcoin halving. This blockchain that provides simple swaps between different cryptocurrencies has nothing to do with Bitcoin Runes. Bitcoin Runes are an evolution of Ordinals and allow a more effective way to create fungible tokens on the network. It was launched at the Bitcoin halving and makes it easy to create new tokens just like on Ethereum and Solana. Its popularity led to crowding on the Bitcoin blockchain and much higher fees for Bitcoin transactions. So it is a new token standard and not a new token!