🤖 AI and Crypto: A $20 trillion synergy by 2030!
Welcome to the Daily Tribune on Friday, June 14, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, June 14, 2024, and like every day from Tuesday to Saturday, we summarize the news of the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Partly cloudy ⛅
24h crypto recap! ⏱
💥 Short-term investment in Bitcoin ETFs surges 55%
Short-term investments in Bitcoin ETFs have experienced a spectacular 55% increase since January, reaching over 3.4 million BTC. This growth is largely attributed to the growing interest of new investors in Bitcoin ETFs, supported by increased activity from BTC whales. Despite the market undergoing a correction in March, the demand for Bitcoin has remained strong. Trading strategies, such as "basic trading," are also commonly used, although their attractiveness has decreased with the narrowing of the price gap. Read the full article
🚀 TON overtakes Ethereum in terms of active addresses
The TON blockchain, supported by the messaging application Telegram, has surpassed Ethereum in terms of daily active addresses. This rise in power is largely attributed to Telegram's massive user base, which reaches approximately 900 million, and the integration of attractive features such as the Tether (USDT) stablecoin and the Notcoin token. Initiatives like Telegram Stars and mini-game applications, such as Hamster Kombat, have also contributed to this rapid growth. The question remains as to whether TON can maintain this dominance over Ethereum in the long term. Read the full article
🌟 ICBC catapults Bitcoin and Ethereum into the pantheon of strategic resources
The Industrial and Commercial Bank of China (ICBC), the world's largest bank in terms of assets, has compared Bitcoin and Ethereum to strategic resources, equating Bitcoin to digital gold and Ethereum to digital oil. This recognition by a leading financial institution marks a significant step for cryptocurrencies. The ICBC report highlights the scarcity of Bitcoin and its role as a store of value, while Ethereum is emphasized for its importance in the development of Web3 applications and decentralized innovations. Read the full article
💡 AI and Crypto: $20 Trillion at Stake by 2030
The convergence of artificial intelligence (AI) and cryptocurrencies could generate a $20 trillion increase in global GDP by 2030, according to Bitwise. Juan Leon, senior crypto research analyst, presented this perspective at the Consensus conference in Austin, highlighting the growing importance of this synergy. Examples like Coreweave's $1.6 billion acquisition of Core Scientific illustrate this trend. The combination of blockchain's transparency and security capabilities with AI innovations opens up new opportunities in various sectors, increasing efficiency and reducing costs. Read the full article
Crypto of the day: Toncoin (TON)
Toncoin is the native cryptocurren of the decentralized layer 1 blockchain, The Open Network (TON). Originally developed by the Telegram team under the name Telegram Open Network, the technology was taken over by an independent community after 2020. Using a proof-of-stake (PoS) consensus model, TON offers scalability and reliability benefits.
Toncoin is mainly used for transactions and payments within the TON ecosystem, with benefits for holders such as reduced transaction fees and participation opportunities in network governance. The initial distribution of Toncoin was carried out by a decentralized community and development initiatives.
Recent performance
Current price: $7.83
Percentage increase/decrease: 3.27% (1d)
Market capitalization: $19,043,632,661
Rank on CoinMarketCap: 9
Crypto Analysis: Injective (INJ)
Injective, after a flourishing 2023, has seen its value drop by 60% since its last all-time high. The price of INJ, which had reached an ATH of $53, fell to $19 before recently rebounding around $30. Despite a medium-to-long-term bullish trend, technical indicators such as moving averages indicate bearish reversal signals, especially with a \"death cross\" observed. However, oscillators and renewed buyer interest suggest a positive outlook for the near future of Injective.
Interest in perpetual contracts related to Injective has resumed, with a low funding rate signaling a balanced market without excess. The liquidation heat map shows critical areas around $31, $35-45 above the current price, and $23 below, which could result in volatile price movements. If INJ maintains its price above $23, a recovery up to $35 or even $40 is possible. On the other hand, a drop below this level could push INJ towards $20 or $18, with support at $16, resulting in further significant decline.