Trittium - Weekly Report #8
- WHAT DID THE MARKET DO?
We are in a positive trend apparently, although this is within a range of $6,100 — $6,900. Every time we see a significant bullish candle it feels like we are going to $100,000 and as soon as we go down to $6,300, it feels like we crashing to $5,000.
This kind of pattern is forcing some altcoin prices to explode, as we have seen over the last few days with $XRP, $BCH and $OCN.
Here we can see the Total Market Capitalization has grown by a total of 10.18%. This is a very good week. It seems people may be starting to believe in a speedy price recovery.
As for the market dominance of BTC, for the first time in a very long time it has gone down. Falling from 55.59% on 16 September to 51.18% on 30 September, this huge drop can be related to a large capitalization shift away from BTC due to some of the alts exploding, as referred to above.
It may also be a sign that some investors are beginning to put more trust in the current situation and not only invest in BTC, as they have done up to now, but start opening some positions in the altcoin market.
Let’s see what the masternode market has done.
The trend in Dash continues as last September 16, going from $1,597 m to $1,561 m today:
On the other hand, the Total Market Capitalization for masternodes HAS GROWN. Not significantly but nevertheless, we can say that there is now more money invested in Masternodes than there was 15 days ago.
About a 0.95% increase.
With this data, the dominance of Dash should have gone down for the first time in many, many weeks and we can see it is currently at 67.24% whereas on 16 September, it was 69.76%.
So for the first time in a long time, the Dash domainance has dropped and the Total Market Capitalization for masternodes has risen. Both these changes are by marginal amounts but it might be the beginning of a positive trend change in the masternode world.
Another fact, not so positive, is the total number of deployed masternodes. We have not previously commented on figure as it was always the same, about 1,000 new masternodes per week. For the last couple of weeks however, the total number of deployed masternodes has not been increasing as much and it is now evident the pattern has changed since the end of August:
16 September: 234,749 Active Masternodos.
30 September: 237,028 Active Masternodos.
From the historical growth tend for 2018 to date, this means that there are about 11,000 masternodes which have not been deployed in the last fortnight. This change however, has not affected price overall since those masternodes would have been deployed on projects with marketcaps that had fallen through the floor.
This analysis potentially gives us a key indicator — there are fewer people investing in projects that clearly don’t have a future. We have repeatedly said here at Girls in Crypto that only strong projects will survive long term.
2. WHAT DID TRITTIUM DO?
As we can see in the daily chart above, we have crossed the desert and completed the fork. We are now beginning to see steady increases in price, slowly and with an organic growth.
Few projects can boast of having made such a transition and being the stronger for it. Not only have we grown in price but we are also maintaining the pre-fork levels of liquidity in the trading volume of TRTT. This shows us the trust the community has in the project, and their belief in the incredible future ahead for Trittium.
Let’s have a look at the order book.
And this one is from today (30 September 2018):
- The average sale price has increased to around 260 sats.
- The size of the purchase order book has doubled from the previous week and is now about 5.40 BTC.
- The sales order book is also bigger than last week at around 790,000 TRTT.
- We now have 16 masternodes in the sale order book and 40 masternodes in the purchase order book. Another sign of our communities support and positive sentiment as we transition toward our live use case product.
3. PROGRESS OF THE PROJECT
Fork done, wallets working, masternodes deployed, and waiting for the licence.
We have not been sleeping. You know it.
Here is a breakdown of what has happened in the Project over the last 15 days:
- FORK HAPPENED!!!. Yes, on 23 September, with the single purpose of reducing inflation Trittium completed the Fork.
- As a result, the rewards schedule is now:
- Also during the Fork, were the following announcements:
- But as you know, the Trittium team multitasks, so in the middle of all this we were also selling our software services to new partners and announced we are partnering with MIDAS. 2 BTC for our budget!!!!
A lot of news on future updates to follow also appeared in our recent announcement:
- License in October
- trttAuth in final deployment.
- Website Redesign.
- Insta shared Nodes soon — almost there!!!!
We also provided you with some screenshots of our recent progress:
- New Trittium giveaway!!!! Trittium is giving away 3 x prizes of 5,000 TRTT each on Twitter.
- As part of an anti-scam campaign, Trittium deployed new Discord rules and reminded everyone of ways to avoid scammers. A new scam detector bot and new Discord internal procedures were implemented to help prevent these situations.
As always, these days have been intense, we are simultaneously working on multiple fronts and soon, we will all see the results.
Thanks for Reading!!!!
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Originally published at medium.com on October 3, 2018.