Triaconta Weekly #257

The following topics will be addressed in this weekly:

  • Bundle performance
  • Winners & Losers
  • Revision

Bundle performance
The market is moving slightly up this week with a few standouts in the DeFi market. This year much trading volume has moved to decentralized exchanges and, for example, Uniswap has been processing more trading volume than Coinbase, still the largest central exchange in America, since February. This makes the DeFi bundle the second highest-yielding bundle this year after the Big3. A large part of this return comes from the new additions in the previous revision, and next week we will also be adjusting the standard bundles to stay up to date with the rapidly changing crypto market. The new additions Arbitrum (ARB), Stacks (STX), Rocket Pool (RPL) and IDEX (IDEX) are already available for purchase on our platform. Read more about the changes for each bundle below.

Big3:
1 Month: -7.06% | 7D: +4.60% | 24H: -0.02%

Top30:
1 Month: -13.15% | 7D: +4.78% | 24H: -0.97%

Penny:
1 Month: -19.34% | 7D: +4.14% | 24H: -1.22%

DeFi:
1 Month: -16.54% | 7D: +6.33% | 24H: -1.66%

Winners & Losers
The DeFi sector is doing well again this week with Lido DAO (+16%) and Synthetix (+15%). The second oldest crypto currency Litecoin (+14%) is benefiting from the ongoing congestion and high costs on the Bitcoin blockchain. Litecoin, of course, is a modified copy of Bitcoin and has also had the capabilities for Ordinals since February. Now that Bitcoin is overflowing with such transactions, it is Litecoin’s turn. On May 10, the blockchain recorded more than 500 thousand transactions per day, a new record. A notable decliner this week is Cosmos (-6%) despite plenty of new developments such as Neutron and Stride that make it much easier for developers to add dApps and new use cases to this Ethereum competitor.

Revision
The crypto market is constantly changing and Triaconta is therefore changing the composition of the standard bundles next week. If you selected automatic revision on the bundle, then your bundle will be updated automatically and you don’t have to do anything yourself. If you also want to stay up to date effortlessly, turn on automatic revision on your bundle.

In the selection for our Top 30, we add Arbitrum and Flow disappears. Flow remains a great platform but depends on developers building things on it. That is not happening enough yet to maintain a Top 30 listing. Arbitrum is a layer 2 scalability solution for Ethereum with a new method that uses Optimistic Rollups. By sending only the minimum required information, transactions are processed much more efficiently and therefore faster and cheaper. For dApps in particular, this is super important and Arbitrum can accommodate 40,000 transactions per second as a result while remaining just as secure and fully compatible with Ethereum.

In the DeFi bundle, we say goodbye to Near and Maker. Near no longer has an exclusive focus on DeFi and is growing into a Blockchain OS for Web3. With this, Near remains a perfectly fine component of the Top30 bundle, but no longer fits into the DeFi bundle. Maker sinks further in market valuation and thus disappears from the top 10 DeFi.

With all the hype about ordinals on the Bitcoin blockchain, the value of Stacks has also increased significantly. This smart contract layer also enables smart contracts and dApps directly on the Bitcoin blockchain. Stacks comes with a new programming language developed with Algorand, a new cloud-based storage system Gaia and finally the ability to use digital identity and smart contracts on Bitcoin, the first, largest and most secure blockchain.

The arrival of Ethereum 2.0 makes Rocket Pool, along with Lido DAO, the most popular solution for staking Ethereum and becomes the second new addition to the DeFi bundle. Rocket Pool is a fully decentralized staking protocol where the RPL functions as the governance token in voting on all decisions.

In the Penny Stock bundle, Ankr’s shared node hosting solution continues to decline in volume and is therefore replaced by IDEX. As the name suggests, this is a decentralized crypto exchange, which is a sector that continues to grow substantially anyway after the problems at large central players like FTX. With enough customers, IDEX’s hybrid CeFi / DeFi solution could become “the crypto marketplace of the future”. It makes it possible for traders to trade quickly and efficiently in a smooth user interface with stoploss and limit orders that you would also find at a central exchange while still remaining in control of all your crypto. Currently, IDEX still has a very low market capitalization but its rising popularity, high turnover, active community and experienced team make this token likely to transcend Penny Stock status as early as next year.

Subscribe here to receive this weekly newsletter.