Trittium - Weekly Report #12
- WHAT DID THE MARKET DO?
Another week with the price of BTC moving between $6,100 and $6,850 per bitcoin until 29 October when we saw a significant drop in the BTC price and almost 6 billion dollars just disappeared from the market.
You can see above that the Total Market Capitalization dropped by 6,954 million USD. By itself this does not mean much, it is equivalent to about 3.3% but, this all happened within a span of 5 minutes.
We can say the market dominance of BTC is the same as last week as it has only seen a small change from 53.60% to 54.13%. It confirms that alt season is still not here. Just some pumps because of the stable BTC price, but there is no alt season around.
Yet again, the Dash Marketcap dropped this week, from $1,306 to $1,263 USD million (-3.3%)
Last week the Market dominance of Dash was at 50.78% and since then it has risen to 51.50%.
Now if the Dash Marketcap goes down and at the same time its Market dominance increases, what do we have? Well you can see the answer in these figures as they clearly show what sort of impact that has had on Masternode investments:
In summary, for 21 October 2018:
- Total Masternodes Market: 2,560 million.
- Dash Marketcap: 1,306 million.
- Masternodes Marketcap (excl Dash): 1,254 million.
The Total Market Capitalization for Masternodes (excl Dash) is therefore resting today at $1,189 million.
So, in the last 7 days we have seen the Dash market go down by $43 million, the total Masternode market (excl Dash) go down by $65 million and what this all means is that money has been lost from Masternodes, from all of them.
There is some good news however in the number of deployed masternodes over the last 7 days. Last week we saw a growth of 0.6% in the total number of masternodes deployed, with about 95 new nodes going online per day. This week we grew another 0.9% from the previous week, which means approximately 290 new masternodes being deployed per day.
21 October 2018: 250,382 Active Masternodes.
29 October 2018: 252,707 Active Masternodes.
Although this is arguably not a significant number, which could be related to money leaving the crypto market, and even if the nodes themselves are not worth as much in USD terms, it is still week on week growth in the number of nodes going online and adding strength and resilience to the networks.
You have to ask yourself though, how can some alts grow in price even if there is no new money coming into the market? The answer is easy — people are selling other cryto assets to invest in them.
2. WHAT DID TRITTIUM DO?
This really has been another challenging week for Trittium. The reasons are similar to those last week:
• Market sentiment.
• trttNode service delayed (we hope for last time)
• Still waiting for the license.
• No “big news” announcements for the Trittium project.
This and the BTC and overall Masternodes Market situation, as mentioned earlier, has caused some bearish sentiment.
Let’s have a look at the order book:
This was the order book as of October 14, 2018:
And this is the order book as of October 29, 2018 :
- The average sale price is now lower, around 150–160 sats.
- The purchase order book is weaker than last week having dropped from 1.33 BTC to 0.69 BTC in buy orders.
- The sales orders book has grown to almost 1.000.000 TRTT.
- We now have 20 masternodes in sales orders and 8 masternodes in buy orders.
We can’t deny it has been a tough week and it is typical for delays to make some investors have doubts about a project but even so, the team still just keep on working towards their goals and I am confident that soon things will change for the better, we will move to the next phase, services will go live and the price will rise.
3. PROJECT PROGRESS.
We are Trittium and we never stop working!
A huge step — the web wallet has been updated. Now with the highest homologation level between all the Trittium products and also, with integration of Midas Coin.
- Trittium is listed on Beam!!!
2 BTC booster received from Midas Coin, paid to us for the use of our software services as per the negotiated agreement reached last month.
- New bounty campaign at Trittium Discord!!! Check out our Numbers Contest where you can win $TRTT prizes just for writing in our Discord Channel!!!!
We know there is demand for the release of the trttNode service ASAP and the platform is really starting to come together, but things must be done properly, and the platform needs to be bulletproof. We don’t want to disappoint our investors with our product and we must be confident about the product before it goes live.
What we are doing isn’t easy. If it was easy, everyone would be doing it and as you can see, the team has not been quiet and there is more to come. We are Trittium and we never stop!!
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Originally published at medium.com on October 31, 2018.