Triaconta Weekly #173
The following topics will be addressed in this weekly.
- Referral bonus payout started
- Bundles performance
- Winners & losers
- Market overview
We started paying the referral bonuses this week. If you haven’t received the bonus yet, don’t worry, it’ll be fine. Once all bonuses have been checked and paid, we will pay them out monthly from now on.
Would you also like to receive a 35% bonus on our commission for all purchases in euros made by another person? Then make sure that a new customer registers at Triaconta with your invitation link. You can invite as many people as you want, so your bonus can grow indefinitely. The personal invitation link can be found in the menu under Referral bonus.
Cryptocurrency buyers still seem to be on vacation. The volumes are low and for the sixth time Bitcoin drops to almost 26,000 euros and then bounces back. We have not been higher than 33,000 euros for 8 weeks. All bundles are at the lowest point of the week and there are very few gains with the individual coins.
1 Month: -21.44% | 7D: -5.73% | 24H: -2.91%
1 Month: -24.24% | 7D: -9.60% | 24H: -4.47%
1 Month: -32.31% | 7D : -8.56% | 24H: -3.10%
1 Month: -13.72% | 7D: -12.12 % | 24H: -3.10%
Winners & losers
A bad week for the entire market. Small exceptions are Terra (+3%, last week +30%), Enjin (+2.5%), and EOS (+2%). Big losses this week for Theta (-23%), Matic (-17%), Dot (-16%) and Uni (-14%).
The latest upgrade (codenamed London) of the Ethereum network is expected to go live on August 4. The main improvements are reducing network costs and improving stability, which is good for all transactions. For smart contracts such as many DeFi applications, the costs will be lower and, above all, more predictable. From now on, transaction costs will no longer be paid as a bonus to the miners but will be destroyed so that less Ethereum remains, which should have a price-increasing effect. The London upgrade is a stopover on the way to Ethereum 2.0 and the transition from a proof of work ( PoW) system to proof of stake (PoS).
Good news for Ripple in the lawsuit with the SEC over whether or not they sold XRP as a security. They are given permission by the judge to question former SEC director William Hinman. He stated in a high-profile speech in 2018 that “we” do not view Ethereum as a security due to the decentralization of the network. The market took that as the SEC’s stance and Ethereum’s price exploded. Ripple now wants to demonstrate that if Ethereum (and Bitcoin) are not securities, they were allowed to assume that XRP was not. The SEC now claims that Hinman expressed a personal opinion and not the official position of the SEC. The testimony would therefore be irrelevant. The judge found the speech very relevant. In fact, the SEC claiming that there was no official position at all would exonerate Ripple because they can only be convicted in this case if they could know that they were in violation (of securities laws) with the sale of XRP. To be continued, a final ruling is not expected before October unless a settlement is agreed earlier.
Important mainstream adoption news comes from one of the world’s most well-known index providers, S&P Global (including S&P 500, Dow Jones). They launched the S&P Cryptocurrency Broad Digital Market (BDM) Index on July 13, 2021 and track the market development of more than 240 cryptocurrencies. S&P Global has been providing investors with insight into how markets move for over 100 years and is now doing the same for existing and likely many new cryptocurrency traders. It is important that authoritative institutions such as S&P Global embrace the cryptocurrencies as a new investment opportunity.