📈 Binance celebrates 250M users, 📉 Dogecoin is losing steam
Welcome to the Daily Tribune of Friday, January 10, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today, it is Friday, January 10, 2025, and like every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you should not miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Partially sunny 🌤️
24h crypto recap! ⏱
📉 Dogecoin: Loss of popularity and social disinterest
Dogecoin, once adored for its meme aura, is experiencing a marked decline in interest from investors and a notable drop in activity on social media. Santiment data reveals a market sentiment score at its lowest (1/5), well behind cryptos like XRP and Solana (4/5). This dynamic is accompanied by a decrease in Google searches, down 74% since November.
Financially, DOGE has seen its value drop by 28% in one month and is part of a downward trend common to other memecoins like Shiba Inu and Pepe. While some investors see it as a buying opportunity, others fear a prolonged erosion of its appeal, amplified by the absence of major catalysts. However, analyses suggest a potential rebound in the medium term if the overall market regains strength.
🇨🇦 Poilievre: The potential Trudeau replacement is pro-Crypto
Following the resignation of Justin Trudeau and his Minister of Finance, Pierre Poilievre, leader of the Canadian Conservative Party, is experiencing a meteoric rise. Supported by Elon Musk, who praised his stance on inflation and fiscal responsibility, Poilievre is captivating the crypto community with innovative proposals.
Influential figures, such as the CEO of Coinbase, also support his vision. Among his key ideas is a national Bitcoin reserve to protect the Canadian economy against inflation. Already tested locally in Vancouver, this strategy could become a national model if Poilievre comes to power. With an estimated 89% chance of succeeding Trudeau, according to Polymarket, Canada could become a global leader in cryptocurrency adoption.
💳 RLUSD: Ripple expands its influence in stablecoins
The Ripple USD stablecoin (RLUSD), launched in December 2024, is quickly gaining traction with a market capitalization of $71.8 million. Ripple plans to expand the availability of its stablecoin to new exchange platforms, to strengthen its presence against giants like USDT and USDC. Currently traded on platforms like Bullish, MoonPay, and Bitso, RLUSD sees 76% of its volumes concentrated on Bullish.
Ripple also relies on DeFi with the integration of Chainlink oracles to ensure price transparency. This expansion is accompanied by rumors of an XRP ETF, which could attract more institutional investors and transform the Ripple ecosystem. With a strategy that blends traditional and decentralized finance, Ripple seems ready to redefine market standards for stablecoins.
🌟 Binance: 250 million users, a historic milestone
In 2024, Binance crossed the impressive threshold of 250 million registered users, reinforcing its status as a global leader in the crypto industry. This success relies on key innovations, including optimized DeFi protocols, a simplified NFT tokenization solution, and advanced tools for managing digital wealth. These initiatives have allowed Binance to attract a diverse audience, with a total trading volume of $15 trillion and increased adoption of its crypto card, used by 12 million people.
Despite regulatory challenges and market volatility, the platform continues to grow, driven by a strategy focused on accessibility and security. Binance thus positions itself as an essential player in the global adoption of digital assets, with promising prospects for 2025.
The crypto of the day: THORChain (RUNE)
THORChain is a decentralized blockchain distinguished by its unique ability to enable non-custodial cross-chain swaps between different assets, such as Bitcoin and Ethereum, without using wrapped tokens.
Its native crypto, RUNE, plays a crucial role as a settlement asset in liquidity pools while ensuring network security via a collateralization system. RUNE holders benefit from revenue from transaction fees and can become liquidity providers or node operators. These features make RUNE a key element for facilitating scalability and security in cross-chain exchanges.
Recent performance
Current price: €3.23
Variation (24h): -14.78%
Market capitalization: €1.11 billion
Rank on CoinMarketCap: #90
Solana: 2025, the year of all records?
The relatively affordable price of Solana (SOL), compared to giants like Bitcoin and Ethereum, is attracting a growing number of retail investors. This perceived accessibility, though sometimes misinterpreted in terms of overall capitalization, is a key driver of SOL's popularity among beginners.
With a market capitalization of $92 billion, Solana has considerable room for growth to catch up with its major competitors. Its solid technical performance, notably its ability to handle a large number of transactions quickly and at low cost, enhances its appeal. These factors, coupled with analysts' optimism, support bold projections of $400 per token in 2025.
Another major factor for 2025 is the expectation around the approval of the first Solana ETFs in the United States. This initiative, already preceded by success in Brazil, could open the market to an institutional and traditional audience, thus increasing adoption. Asset managers like Grayscale and VanEck anticipate an imminent decision from the SEC, strengthening Solana's growth prospects. The introduction of these ETFs should facilitate access to SOL, particularly for investors hesitant to go through centralized crypto platforms.
With strong technical fundamentals and important catalysts like growing retail adoption and the probable arrival of ETFs, 2025 could be a record year for Solana. By diversifying its users and consolidating its place among the industry leaders, Solana positions itself as a key player in the evolution of the crypto ecosystem. The main challenge will be to maintain its momentum while continuing to innovate in the face of increased competition in the realm of high-performing blockchains.
