Trittium - Weekly Report #2
- WHAT DID THE MARKET DO?
This week, money has entered into the market, which has not happened for a long time. Despite everything, it seems this does not end up being positive for Trittium.
Let’s see what happened:
As we can see, money has entered into the market, no doubt about that.
We have gone from a total market capitalization of 245,424 million dollars from last July 12:
To the current 287,536 million dollars:
So, money has finally entered Crypto!!!, about 42.112 million dollars, which is approximately a 17% increase.
If we exclude BTC from our analysis, the data is as follows:
Here we have gone from 139,454 million dollars last Thursday July 12, to 161,675 million dollars, which is 22.221 million more directly in to Altcoins (+ 15.93%)
This is the data we have, which is real and unquestionable so….. why has Trittium not gone up? If 42.112 million dollars has entered the market and 22.221 million (52.76%) of that went to Altcoins….why have we come down?
Obviously there are more influencing factors, which we will examine in detail, but remember:
- BTC goes up: People sell alts to buy BTC so that after the run-up they can buy the cheapest altcoin.
- Low BTC: People sell alts to take refuge in either BTC, USDT or in FIAT.
- BTC more or less stable: Money moves to the alts, which then increase in price…. And they sometimes increase in price at a much higher percentage and with greater benefits in 1 day than many Masternodes do in 1 year.
- Masternodes: In a bull market the money enters after the alts have rallied and in a bearish market they are a refuge for the alts investor.
2. WHAT DID TRITTIUM DO?
Basically, go down, from this order book on July 12:
To the order book today, July 19:
As we can see:
- The average sale price has gone from 980–1050 sats to the current 520–580 sats.
- The size of the purchase order book has been reduced 50%, from 12.4 to just over 6 BTC.
- The book of sales orders has gone from 408,000 TRTT to 687,000.
Basically this is the result of a “perfect storm” due to, among others, the following reasons:
- Arrival of block 100,000, and with it, the corresponding decrease in rewards from 360 to 280 TRTT per block. This has caused investors who were only in TRTT for its high ROI to look for other investments with a greater short-term benefit.
- With the hope of a rise in the price of BTC the market abandons everything, including the masternodes, and rushes on to the BTC train to take advantage of its value in dollars. After that, they will try with the rise of the alts and finally, close the cycle in masternode investments.
Let’s see it in graphics:
The volume of the market in question, not only has not risen, but has fallen, from 40,114 BTC to 35,316 BTC (-12%), which demonstrates the lower interest in the short-term masternodes before a BTC rally.
In conclusion, we would say that TRTT needs to change the type of investors that support it by incorporating more long-term investors who seek a growth in currency price rather than a rapid ROI.
This will be achieved no doubt, thanks to multiple factors:
- Strength of the Team, who are working 100% on Project development.
- Real use case of the Project.
- Community involvement and their support for a future long-term investment.
- Imminent license.
- New marketing strategies.
3. PROGRESS OF THE PROJECT
The week has been intense, as always, and spectacular in terms of: announcements, work and development of the project and being listed on CMC, a great milestone but a small step in terms of everything that is to come. https://coinmarketcap.com/currencies/trittium/
We started badly last Friday, knowing that we had been initially rejected by CMC:
Luckily, the strength of the community and the great support that TRTT has in them, made CMC rethink and include us in the list:
Have you noticed the long list of positive reactions from the whole community? Amazing!!!!
The same Saturday, already without stopping or to celebrate, we were announcing the multi coin wallet, already adapted to our client, GenesisX
The TRTT team asked the community to help them test the wallet to refine the final details, and the reception was incredible. The whole community set out to try and find any possible bugs, which were all repaired in a matter of days.
On July 16 more great news is announced for all Trittium investors. When the company is operational, TRTT will share part of the profits with all those who have a masternode, in addition to burning some of the coins to raise the price of TRTT.
This news is undoubtedly a game changer in the world of the masternodes, since it gives back to the Community what really belongs to them, the right to receive part of the future benefits in exchange for having been an investor in the first moments of the company.
Finally, we have seen new efforts in BitcoinTalk and different marketing campaigns that will undoubtedly extend the idea of what Trittium is: a great project with real use, with real future benefits and with a great community behind it!!!!
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Originally published at medium.com on July 20, 2018.