Trittium – Weekly Report #10
7-14 October 2018
Yet again, just when it seems that we were going to take off, the market returns us with a bump back to the same place, as always, between $6,100-$6,850 per bitcoin. We are truly rangebound.
Total Market Capitalization fell by 6.5%, which was a significant short-term drop and caused some investors to panic the price would fall further.
As for the market dominance of BTC, when the market falls, people liquidate their altcoin investments back into BTC, which always then increases its percentage of the total market share.
Unsurprisingly, BTC dominance increased last week to 54.04%, which is quite significant when compared to 52.55% the previous week.
If we look at the BTC Dominance trend over the whole of summer, we see there has been a huge dominance increase since 01 June when it was “only” at 38.74%. This says a lot about the kind of market we are going through.
The descent of Dash’s Market Cap continues down from $1,489 to $1,354 million (-9%).
Market dominance of Dash however, is actually sitting at around 52.99%.
On the other hand, the Total Market Capitalization for masternodes also went down a horrible -7.5%.
In summary, for 07 October 2018:
- Total Masternodes Market Cap: 2,756 million
- Dash Marketcap: 1,489 million
- Masternodes Market cap (excl Dash): 1,267 million
As of today, 14 October 2018, the Total Market Capitalization for Masternodes (excl Dash) rests at 1,194 million, which is a decrease of around -5.7%. This is clearly disappointing news since with the previous two weeks in a row of growth in masternode investments it seemed we were about to take off.
Market fear has struck again and people have taken refuge in Bitcoin.
Turning to the number of deployed masternodes.
Last week saw a +2.8% growth in total deployed masternodes, with 981 new nodes per day.
- 07 October: 243,900 Active Masternodes.
- 14 October: 249,712 Active Masternodes.
We saw 5,812 new masternodes deployed this week, which is about 830 new masternodes per day. So less new mn per day than last week, but still growth overall.
2. WHAT DID TRITTIUM DO?
This has been a strange week for the $TRTT price. We started the week with our announcing the deployment of the new trttNode Service and detailed all the incredible options on offer within that service. Market sentiment was clearly bullish off the back of this news and we saw a rally in the price of TRTT from 180–190 sats into the 250–270 sat range. Unfortunately, hardware problems then struck throughout the week which prevented us from launching the service.
Coupled with the BTC situation, as mentioned earlier, this has provoked impatience in some investors, who then decided not to wait any longer and instead, liquidate assets.
It is a free market but the reality is that the trttNode Service is ready and together with Trittium’s license, a soft-launch of the Beta lending platform is imminent and on the fundamentals, the future for this project is looking brighter than ever. The rally into 270sats at the start of the week is just a small taste of things to come!
Let’s have a look at the order book:
This was the order book as of October 07, 2018:
And this is the order book as of October 14 , 2018 :
– The average sale price is now lower, around 200 sats.
– The purchase order book is similar from last week, about 4 BTC.
– The sales orders book has increased since last week and is now around 800,000 TRTT.
– We now have 16 masternodes in sales orders and 40 masternodes in buy orders.
To answer the reduction in price during the last week, as we said before, we can look forward to the game changing trttNode Service together with Proof of Consumption (POC) and the ability to buy and burn TRTT trtt coins from the market. All bullish news for the future price of TRTT both in terms of the fundamentals but also market sentiment, as we see more signs of the hard work and progress of the project from the Trittium Team.
3. PROJECT UPDATE: ONE BIG ANNOUNCEMENT
We have the Estonian e-Residency card in our hands!
What does this mean? Easy. Now we have e-Residency, we can request our license and expect to receive it in around the next 2–3 weeks. From that point on, there will be no more waiting times or requests to be made.
This is huge news for everyone involved, both in the team and our community. Of course, with a work ethic like ours you wouldn’t expect this to be the only recent advance we have made:
- We have created a new Trittium Between Blocks account, where you will also be able to follow the latest Trittium news.
Until next week, the best is yet to come, from here the only way is up!!
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Originally published at medium.com on October 16, 2018.