Triaconta Weekly #192
The following topics will be addressed in this weekly.
- Bundle performance
- Winners & Losers
- Market overview
In the early morning of Saturday, December 4, the entire market plunged more than 20%. Bitcoin fell below €40,000 with luckily some recovery after that. A lot was bought in this unexpected sale, also by our customers, but it remains unpredictable. Bitcoin technically needs to stay above €40,000 (50-week moving average) this weekend in order to rise further. The latest inflation figures from America have Bitcoin rise sharply (but shortly) to above €44,000 today. The November CPI data shows 6.8%, the highest inflation rate in nearly 40 years.
1 Month: -22.61% | 7D:-13.22% | 24H: -4.41%
1 Month: -35.03% | 7D: -23.68% | 24H: -6.15%
1 Month: +6.37% | 7D: -31.41% | 24H: -7.98%
1 Month: -43.76%| 7D: -31.80% | 24H: -8.52%
Winners & Losers
Only Terra (+1%) posted a small plus for this week and the rest were down. Some even very much like Celer Network (-35%), BitShares (-34%), Qtum (-32%) and Ontology (-31%).
The Bitcoin hashrate is already nearly at its all-time high since many Bitcoin miners were forced to leave China this summer. Previously, 70% of computing power came from China, and after the ban, America is now the largest contributor with 42% of total computing power. In general, the Bitcoin price ultimately follows the hashrate. So now we have to wait for a Bitcoin price that is also at the highest level again.
Every December, Google trends publishes the 10 most searched words of the year. There are two cryptocurrencies in the news category this year, namely Dogecoin at 4 and Ethereum at 10.
In April we already wrote about the collaboration between game developer UbiSoft (FarCry, Assasin’s Creed) and Texos (XTZ). UbiSoft is now the first major player from the traditional video game industry to step into the world of in-game NFTs. The beta of the new Quartz platform started on December 9 on the Tezos blockchain. A Youtube video about the platform quickly got tens of thousands of dislikes. Traditional gamers are not happy with this move, according to the comments and accuse Ubisoft of a quick cash grab. The video has since been taken offline.
All Tezos NFTs will also appear on Rarible soon. This is one of the largest NFT exchanges and until now only Ethereum NFTs were traded here. Rarible aims to integrate more proof-of-stake blockchains that consume significantly less energy than Ethereum and also plans to integrate with Solana.
Former Google CEO Eric Schmidt (2001-2011) joins ChainLink (LINK) as a strategic advisor. The Oracle nodes, the Fair Sequencing Service (FFS) and the Verifiable Random Function (VRF) from ChainLink is now used by almost all DeFi and GameFi platforms and according to data analyst Santiment, major investors have recently been taking positions in Chainlink or expanding their position.
The behavior of major investors is also good news for Gala token holders. According to the website WhaleStats, who tracks large wallet behaviour, Gala Games (GALA) has been the third most bought cryptocurrency in the past week after Ethereum (ETH) and FTX token.