Trittium - Weekly Report #3
1. WHAT DID THE MARKET DO?
Money has entered into the market again this week, which has not happened two weeks in a row for a long time. Despite everything, it seems this does not end up being positive news for Trittium, or the Masternode world, or the alts.
Let’s see what happened:
As we can see, money has entered into the market, there is no doubt about that.
We have gone from a total market capitalization of 284,536 million dollars on July 16 to the current total market capitalization of 302,923 million:
That is, money continues to enter in to Crypto!!! Approximately 18,387 million dollars (+6.5%) entered, although this is much less than last week (+17%) and could be a perfect sign of the end to this bull run.
If we exclude BTC from our analysis, the data is as follows:
Here we have gone from a total market capitalization (excluding BTC) of 161,675 million dollars last Thursday July 12, to the current total market capitalization of 160,997 million dollars, that is a change of……nothing.
What does this mean?
It confirms what we often see everyday in the market: No significant amount of money entering into altcoins, and even less into the masternodes.
All the investment is in the BTC bull run, no one is investing NEW MONEY into alts or masternodes, so the amount invested in the alts stays the same.
Now it seems that the BTC bull run is finishing, in which case people will start to invest in ALTs again, and as we said last week, after that the Masternodes will resurface.
Masternodes: In a bull market the money enters after the alts have rallied; in a bearish market they are a refuge from the alts.
We can see this perfectly in the charts below:
In the first chart we can see that the rate of new masternodes coming online has decreased, with the number of new masternodes only increasing by 0.3% in the last seven days, compared to previous weeks when the growth rate was up to 3% per week:
The second chart is very clear: BTC investment is leaving the Masternodes. This is the main reason for the significant drop in prices we currently see happening in the market:
2. WHAT DID TRITTIUM DO?
- The average sale price has gone from 500–550 sats to 300–325 sats.
- The purchase order book has been reduced 50%, from 6 to just over 3 BTC.
- The sales order book has increased from 690,000 to 900,000 TRTT.
- We have previously seen the bitcoin marketcap drop significantly.
- We have had too many coins in circulation, before a market recession and with less money to absorb all the rewards the masternode currencies produce every day.
- This favors price reduction by simple supply and demand and with that, there is a decrease in volume.
We now have 910 active masternodes and each one receives 454 TRTT per day which means a total of 413,140 coins are generated by masternodes owners (+staking) everyday and so more than 8 new masternodes need to go online every day to avoid inflation.
In the last week 50 new masternodes have gone online. This is a little less than we need, but not too much difference, so we can see that people do believe in the project and come to buy more TRTT because they see what a big future this project has.
The proof is in the amount of locked coins, which is currently 71.67% of the total supply.
With the company creation, new marketing actions and the continuing hard work from the team, we remain certain about the sucess of Trittium.
3. PROGRESS OF THE PROJECT
As always, impressive, spectacular, incredible… there are no adjectives to describe the capacity for work, effort and sacrifice that this team demonstrates day by day.
The weekly summaries of this project occupy pages and pages and the advances made in 1 week are greater than those made by some binance coins in 1 month.
Let´s remember how the week has been:
- The final repairs to some small errors in the web wallet continue, even in the test phase and thanks to the help of the community fewer and fewer errors are new being detected:
- We redoubled our efforts in one of the most used forums in crypto, BitcoinTalk, and asked the community to give their opinion about the project. You can also comment here: https://bitcointalk.org/index.php?topic=3594021.0
- The discord channel now has 5,000 !!!! members and it needs more moderators.
- Have you ever seen a voice chat Q & A in Discord directly with the main Developer for the project? Incredible.
- And then deliver the Q & A in writing afterwards?
Did you see the community thoughts? 82 People asked for it to be repeated!
Trittium has always been a serious and long-term project, we never tire of repeating it. Luckily the specialized analysts are realizing this too.
This week Trittium was removed from the JAM (Just Another Masternode) list, which shows the trust that independent third parties have in the project.
On Monday, July 23, another step to demonstrate the close collaboration between Trittium and the community was taken, when Trittium announced an article contest.
The idea is for the community to participate in the dissemination of Trittium and for Trittium to return this effort by giving them different prizes. In this case it is not about a few coins as a
prize, but the winner will receive 1 complete Masternode!!!!
- First real meeting with investors!
Not only has there been Marketing this week but one of the developers has achieved nothing more and nothing less than finishing the GenesisX integration into production web wallet. This is a huge step, we now have a multicurrency web wallet running on top of a payment gateway!
The Market is smart, always.
We can see the number of Masternodes is increasing and is very near to our target. We can see how hard the dev team are working. We can see transparency from the devs… so time will put us in the right place, for sure.
I don’t sell low and buy high in hard times. I stake my coins, what do you do??
Originally published at medium.com on August 2, 2018.