Trittium - Weekly Report #7
2-16 September 2018
WHAT DID THE MARKET DO?
Well, we have returned to the usual scares in the market. Sudden volatility and quick value changes have made crypto investing a precarious venture. Between the September 5th and 6th, we saw a sudden drop in the value of BTC resulting in about $40 billion USD exiting the cryptocurrency market.
After that large drop, we entered another stretch of relative stability in which we find ourselves right now. Even some altcoins have begun to show signs of strength.
We have gone from a market capitalization of $236.876 billion to a current market cap of $201.821 billion. That is a decrease of 14.80% in a short period of time. We do have to thank the current period of stability the past week as it has allowed investors to start investing in altcoins and masternode coins again.
As for the Bitcoin dominance, when there are “sudden movements” in the value of BTC, it lets us know who is the boss. Volatility usually causes people to revert back to BTC which increases its dominance. It climbed from 52.43% to the current 55.55% of the total cryptocurrency market capitalization.
Let’s see what the masternodes market has done
This section does not look much better unfortunately. The Dash dominance increases every day, caused by the abandonment of the investors of their masternodes bets, more than by the price rise of $ Dash. Let’s see it.
As we can see, the Dash price and market cap has fallen in the period of time we are looking at. Since it has gone from a Market Cap of $1.8 billion to the current $1.6 billion. That is a decrease of 10.69%.
The more unfortunate news for masternodes is that despite Dash’s decline in market cap, its dominance in MN investments has actually increased. That brings us to a definite conclusion … MNs are being producing less interest from investors. This is the reality.
The current Dash dominance is 69.76%.
What market does the rest have left?
In billions of dollars, there is currently a total of $2.3 billion dollars invested in Masternodes.
Of that $2.3 billion, we have $1.6 billion in Dash and only a total investment of $706 million for all the other masternode coins.
As of September 2nd (Medium September 2), we had $858 million invested into non-Dash masternode projects. So in two weeks, these projects have seen decrease in investment of $152 million, or -17.7%. This may be in part due to the decrease in the value of BTC.
But Trittium has outperformed the rest of the masternode market.
2.- WHAT DID TRITTIUM DO?
We began the period from September 2 to 16 with a red candle on September 3, going from 267 to 208 sats that same day, a decrease in value of 22%.
However, on September 5 and 6, when the BTC dropped severely in value in 12 hours, Trittium did not suffer for it.
From September 6 and 7, as you can see in the graph, Trittium not only remained stable, but it seems that we even began to recover the upward rate, hovering around the 220 sats valuation.
That is to say, while the masternodes market continues bleeding, and Trittium is anticipates a fork in less than a week that will result in fewer rewards, the community stays strong and united, being conscious of the enormous potential of the Trittium project.
This was the order book as of September 2, 2018 :
And this is the order book as of September 17, 2018 :
As we can see:
- The average sale price is now lower, around 220 sats.
- The purchase order book is lower, about 2.27 BTC.
- The sales orders book is smaller than last week, around 493,000 coins.
It means that we have approximately 10 masternodes in sales orders and 27 masternodes in buying orders.
This is a clear sign of the strength of the project and its incredible future.
Purchase orders continue to triple the sales orders.
We have now 1,211 active nodes compared to 1,107 last week.
That is 104 new masternodes in a week, which is almost double the normal rate that we have seen.
At a time when the health of masternode projects of the total market has stopped increasing, after almost a year rising at the rate of 1,000 new nodes per day, Trittium beats its deployed nodes record, growing by nearly 10% in number in only 1 week … .. someone else see the signs?
3. PROGRESS OF THE PROJECT
This is impasse time, waiting for the long anticipated coin fork and the business license to arrive.
But we have not stopped, you know that is not our style:
· On September 4 we had an interview with Stake and Nodes, who as you know, has long claimed that Trittium was not Just Another Masternode (JAM).
· We continue working on the new website, it already has the new White Paper and clearly describes the team names. Soon we will make more changes to the website.
- Received the Estonian e-residency. One more step towards the desired license.
- Our team continues to grow, with 2 new additions to the team, both users: Flip Flop and 7de9.
• Every time we are hosted on more and more hosting platforms. That will allow our investors to have more options where to host their masternodes.
- Preparations for the Fork begin.
2 weeks in advance, the new wallet is already available to our investors. You can download it here: https://github.com/Trittium/trittium/releases/tag/188.8.131.52
The guides with the new Scripts are also at your disposal:
Hot/Cold wallet setup: https://github.com/Trittium/MNSetUp-scrypt-NEW
Hot wallet setup for Windows: https://github.com/Trittium/MN-Setup-guide-Hot-Windows-wallet
We take this opportunity to remind you the new block rewards:
As you can see, these days have been quiet but intense. We are working on a thousand fronts simultaneously: Marketing, coin fork, web wallets, business license, mobile wallets, and some more surprises that we can’t wait to share with you.
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Originally published at medium.com on September 18, 2018.