Trittium - Weekly Report #1
1. WHAT DID THE MARKET DO?
Unfortunately, the overall market for cryptocurrency has not behaved very well this week.
We saw a considerable drop in total market capitalization. Having gone from $273.3 billion on July 5 to a total of $245.4 billion today, July 12, the crypto market has lost $28 billion, or 10% of the total market cap.
And this is the data when Bitcoin is included. If we exclude BTC from our analysis, the data is even worse:
We went from an initial market cap of $158.7 billion on July 5 to the current $139 billion — a market loss of $19.9 billion, or 12.59%.
In one week, 10% of money has left the crypto market altogether and more still has been channeled from altcoins into BTC.
Given this scenario, the survival of any crypto project is difficult, especially a project in early development, as in the case of Trittium.
Still, we have endured quite well. Let’s see.
2. WHAT DID TRITTIUM DO?
Well, like the rest of the market, TRTT took a substantial fall, slipping from the stable price band in which it used to hover, around 1,200–1,400 satoshis, down to 700 satoshis.
This undoubtedly reflects the fear and volatility in the crypto market these days.
Luckily, despite the suffering of the total market, Trittium found support among its investors, who clearly saw both the strength of the project and the opportunity to establish or expand stakes in the project at a more than competitive price.
As we can see, Trittium is currently in the process of recovery, hovering around 1,000 satoshis again.
In addition, we can affirm that the demand and the volume seem stable, since at the time of writing this article, the order book is more than balanced , with about 12.5 BTC in purchase orders and 408,000 coins for sale.
At current prices, there is willingness to buy some 26 more nodes, and there are only 8.5 nodes for sale.
In terms of volume, on Monday there was a higher volume than usual, with about 24 BTC, but the rest of the week showed between 12 and 15 BTC daily, which places TRTT in the top five positions on CryptoBridge
The conclusion is simple: TRTT is a rocket even in times of withdrawal of investments.
The number of currencies currently blocked amounts to 71.46% of the current total sum, which shows the great confidence that the community has in the project.
3. PROGRESS OF THE PROJECT
Since I am going to start with an announcement made yesterday, it may not be a change from this week , but it is of vital importance and a key step for all of us:
This certainly demonstrates the long-term strength and viability of the project.
Anyway, this week there have been more advances on many other fronts:
We created a channel in Discord to host a BOT capable of reporting on:
o Status of individual masternodes
o Number of new masternodes in the last 24 hours
o Total number of masternodes
o 10 last transactions of more than 50,000 TRTT
- We also launched a second attempt to enter CoinMarketCap — we’re confident this will be the one to get us in!
Regarding the development of the project at the programming level, the Trittium team is still hard at work. Initial tests of the web wallet are underway:
As you can see, the pace of development is frantic, the volume is among the best in the market of masternodes at this time, the price is recovering, the demand is much higher than the offer, and the community has backed almost ¾ of the project out of trust in the long-term journey.
I sincerely believe that in the current market situation, it is difficult to find a project with better short-, medium-, and long-term prospects than TRTT.