Triaconta Weekly #160
The following topics will be addressed in this weekly.
- Bundles performance
- Winners & losers
- Market overview
If you’ve suddenly made an awful lot of money with cryptocurrencies this year, it is generally wise to consider taking some profit. However, selling does not always make you happy because some people can’t handle it when the crypto rises much further afterwards. So it remains your personal choice, but it is something to consider every now and then. Especially when it has become a lot of money for you. This is not investment advice or any kind of prediction of the future of the cryptocurrency market.
The Penny Stock bundle shoots to the moon due to the greatly increased appreciation for Doge (currently + 595%, you read that right plus five hundred and ninety five percent in one week). Another excellent week for all bundles due to significant increases in almost all coins. Fortunately, the DeFi bundle is also fully participating in the festivities this week.
1 Month: 77.66% | 7D: 23.71% | 24H: -1.81%
1 Month: 71.14% | 7D: 22.57% | 24H: 4.30%
Penny Stock ::
1 Month: 88.82% | 7D: 49.04% | 24H: 11.07% (!)
1 Month: 34.23% | 7D: 19.93% | 24H: 2.71%
Winners & losers
Our customers are increasingly buying individual crypto coins in addition to their bundle. Is the trend your friend or do you buy the dip? This week’s winners are Doge (+ 595%), Ethereum Classic (+ 70%) and again XRP (+ 52%), Maker (+ 47%) and Bitcoin Cash (+ 37%). The biggest loser is Waves (-10%) despite selling the first “Waves Duck” NFT for $ 1,000,000. And Zilliqa (-4%) and Hedera Hashgraph (-3%) are also not participating this week.
A gas explosion and flooding in a Chinese coal mine in Xinjiang has caused some deaths and miners are still trapped underground. Bitcoin mining has been halted across the region due to this accident while central authorities conduct fire and safety inspections. The network’s overall hashrate fell from the all-time highs near 220 Eh / s to 165 Eh / s. The price of Bitcoin also felt the pressure of the decline in computing power down 4%. The bitcoin miners in this region regularly move their plug-and-play equipment to the cheapest electricity. During the rainy season between May and October, they prefer the South China provinces that have overcapacity from the hydropower plants at that time.
History has been written on April 14 by cryptocurrency exchange Coinbase with the public listing of their shares on the Nasdaq exchange. The opening price of $ 381 was well above the suggested retail price of $ 250 that Nasdaq itself indicated. After opening, the price briefly went to $ 429 but then fell to $ 310 due to profit taking. All Coinbase employees (around 1700) had been surprised to receive 100 shares as a bonus. Today COIN is trading at around $ 326, making the company worth around $ 65 billion. That’s not Amazon or Apple yet, but comes close to FaceBook and Uber. It is expected that the stock will be very volatile and will be strongly influenced by the Bitcoin price.
Doge’s bizarre rise highlights to skeptics the irrationality of the current crypto market. However, Doge has been a reliable indicator of changes in general market sentiment for years. Both to positive and negative. At the moment, the crypto market is apparently very enthusiastic and all projects see wide adoption of their currency taking place very soon. Of course, Doge also occasionally gets help from Elon Musk on Twitter and we have suddenly quintupled this week. Nevertheless, this currency should not be underestimated. The coin has been around since 2013 and was already very popular when the price was a thousand times lower than it is today. Due to the network effect and without the intention of the founders, it has become a currency of great value. The combination of a joke with real help to many charities still works. Dogecoin profits are widely used to donate directly to, for example, poverty alleviation in Africa. That will be even easier after the soon-expected listing on yes … Coinbase. The Doge network processed a record $12 billion in transactions today, easily twice as much as Ethereum today!
It has recently become known that five million Swedes invest indirectly in Bitcoin. At least two companies in which the Swedish state pension fund invests have Bitcoin on the balance sheet. They have a 0.09% interest in Tesla, good for 43 Bitcoin or 940 satoshi per participant, and a 0.1% interest in Square, good for 9 Bitcoin or 190 satoshi per participant. The pension fund in Norway is invested in nearly 600 Bitcoin through its holdings in companies! Pension funds in the Netherlands have so far ignored Bitcoin, also because of strict rules. It’s a shame really.
Ethereum reached a new all-time high and is trading above 2000 euros this week with the rollout of the Berlin upgrade that should lead to lower transaction costs on the network. This is necessary in order not to hinder the growing use of DeFi and Apps. The next (London) upgrade is in July and all upgrades after that will eventually lead to a scalable, secure and sustainable Ethereum 2.0 that has been talked about for years now. All due respect to the thousands of developers worldwide because it is building on a moving train or should we say on an already launched rocket to the moon.