Triaconta Weekly #157
The following topics will be addressed in this weekly:
- Bundle performance
- Market overview
- What is an NFT?
How nice it is now to have an investment in a few cryptocurrencies. Bitcoin has soared this year, hitting an All Time High of $ 61,700 on March 13. We are now in a sizeable correction that looks very similar to the correction at the end of the previous quarter. Back then we took off from $ 35,000 and went to $61,700 in a few months. And then we have so many other coins, which perform even better than Bitcoin. Undoubtedly, it will be the best year in crypto ever!
1 Month: 18.66% | 7D: -2.71% | 24H: 2.09%
1 Month: 43.56% | 7D: 4.51% 24H: 2.95%
1 Month: 74.56% | 7D: 7.93% | 24H: 3.29%
1 Month: 9.99% | 7D: -12.91% | 24H: 4.43%
Investments of institutions and companies in crypto are no longer limited to Bitcoin (BTC). Asia is particularly fond of Ethereum (ETH) and other currencies are also doing very well in a broader rise caused by many new investors. Multiple crypto projects now have enough volume and maturity to have their own market cycle. There is no longer a recognizable altcoin season, it is always altcoin season from now on. Maybe we just shouldn’t use the term altcoin anymore.
Analysis of CoinMarketCap over the past 90 days shows that despite phenomenal results, Bitcoin is still lagging behind many other coins in the past year. And we are proud to see that all our Bundles also outperform Bitcoin this quarter.
- Terra (LUNA) +3245%
- Dogecoin (DOGE) +1068%
- Theta (THETA) +802%
Penny Stock Bundle +691%*
- Uniswap (UNI) +677%
- Cardano (ADA) +655%
- Binance coin (BNB) +643%
- Polkadot (DOT) +502%
- VeChain (VET) +500%
- Filecoin (FIL) +303%
Top 30 Bundle +268%*
Defi Bundle +183%*
- Ethereum (ETH) +160%
- Stellar (XLM) +150%
Big 3 Bundle +127%*
- Chainlink (LINK) +125%
- Bitcoin (BTC) +116%
Pay Tesla with Bitcoin
You can now buy a Tesla with Bitcoin if you live in America. Europe will follow in the course of the year. Tesla does not use a payment service provider that converts BTC into dollars. They use internal and open source software and manage the Bitcoin nodes themselves, which process the transactions. The Bitcoin, which is paid to Tesla, will therefore not be converted into fiat currency but will be put in reserve as Bitcoin. They are the first major store to do this. Tesla also purchased $ 1.5 billion worth of Bitcoin for their cash reserve last month and appears to have complete confidence in the coin.
Stimulus to Crypto
Millions of Americans again received a $ 1,400 stimulus check, and again we see many choosing to invest it. Research shows that two out of five have invested some or all of the stimulus in stocks or cryptocurrencies. The $ 1.9 trillion stimulus package also fuels inflation fears that are causing more major investors and companies to look to Bitcoin and Ethereum.
Cardano finally smart contracts and NFT
The Alonzo testnet, which will go live next month, makes it possible for developers to test their programs (also called smart contracts) on Cardano. When it goes live on the mainnet in August, these applications can start running immediately. One of the first programs to be ready is a swapping program which could become a serious competitor for UniSwap on Ethereum. NFT trading would also soon receive support on the Cardano platform, according to founder Charles Hoskins, and he claims to be in talks with several leading marketplaces for a switch.
What are NFTs
If the sale of an NFT makes the mainstream news bulletins, something is really going on. The wikipedia definition for NFT or Non Fungible Token is a digital file whose unique identity and ownership can be verified on a blockchain or digital ledger. This prevents them from being replicated, stolen or faked.
We are talking about collecting digital art in image and / or sound or a unique piece of the digital world, such as the first tweet ever sent on Twitter. An NFT is therefore a unique digital token. But so is a Bitcoin. The difference is that NFTs are not interchangeable and Bitcoins are. When you buy a Bitcoin, you don’t care which Bitcoin you buy because each Bitcoin, while unique, is valued as one Bitcoin. Just as a banknote has a unique serial number, it still doesn’t matter which banknote you have.
An NFT is unique and therefore valuable because it does matter which one you have. Imagine that there is one banknote with a misprint. That banknote is sometimes extremely valuable for collectors. The advantage of a digitally unique thing is of course that you can record all kinds of authenticity features in a blockchain and the owner is also recorded by a transaction. Just like a signed first edition of a book, authenticity features also increase the value of the NFT. The first tweet on Twitter, for example, was authenticated by Twitter boss Jack Dorsey himself and has now raised $ 2.9 million (for a charity in Africa).
Buying or selling an NFT is done via a blockchain platform and these platforms turn out to be a very good investment. Such a good investment that several of our clients have suggested creating an NFT bundle with cryptocurrencies specifically targeting this new market. We will launch such a bundle in the second quarter.