💣 Binance under pressure in Nigeria, XRP approved by Brazil !
Welcome to the Daily Tribune of Friday, February 21, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Friday, February 21, 2025, and like every day from Tuesday to Saturday, we summarize the news of the last 24 hours that you shouldn't miss !
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Sunny ☀️
24h crypto recap! ⏱
🇧🇷 Brazil approves the first XRP ETF in the world and prepares a stablecoin !
Brazil marks a major advance by validating the first XRP spot ETF in the world, thus outpacing the United States where the SEC is still hesitant on the issue. The Hashdex Nasdaq XRP Index fund, approved by the Brazilian regulator CVM, aims to democratize institutional access to XRP. In the same vein, a Brazilian bank plans to launch a stablecoin backed by the real on the XRP Ledger, confirming Brazil's rise in the blockchain ecosystem. This dual move could enhance XRP's credibility and boost crypto adoption in Latin America. 🔗 Read the full article
🎭 Elon Musk in the crosshairs of Anonymous: manipulation, censorship, and abuse of power !
The collective Anonymous accuses Elon Musk of abusing his influence in the crypto markets, notably through his positions on Bitcoin, Dogecoin, and X (formerly Twitter). They denounce price manipulation through strategic tweets, which would have caused massive losses for investors. Furthermore, Anonymous criticizes X's moderation policy, pointing out a 50% increase in hate speech since the platform was acquired by Musk. They also accuse him of closeness to Trump and global political interference. 🔗 Read the full article
🏆 Gold surpasses Bitcoin: new historical record for the precious metal !
While Bitcoin stagnates below $100,000, gold records a spectacular rise, reaching a new historical peak. Since the beginning of 2024, its price has jumped by 27%, fueled by geopolitical tensions and rising interest rates. Some analysts estimate that gold could reach $3,000 per ounce, reinforcing its status as the ultimate safe haven amidst economic uncertainties. Meanwhile, Bitcoin struggles to break its resistance, caught in a market hesitating between consolidation and a new rally. 🔗 Read the full article
⚖️ Nigeria sues Binance and demands $81.5 billion !
The Nigerian government is launching an unprecedented offensive against Binance, accusing it of tax fraud and contributing to the collapse of the naira. Nigeria is demanding $2 billion in unpaid taxes and $79 billion for economic damages, claiming that Binance has facilitated harmful speculative transactions against the national currency. This attack is part of a broader conflict between states and crypto exchanges, and could inspire other governments to take similar measures against industry giants. 🔗 Read the full article
Crypto of the day: Jito (JTO)
Jito is a liquid staking solution and a maximum extractable value (MEV) protocol operating on the Solana blockchain. The protocol allows users to easily participate in staking their SOL tokens while maintaining their liquidity via the JitoSOL token. By integrating DeFi modules such as decentralized exchanges (AMMs), lending platforms, and derivative markets directly into the chain, Jito aims to defragment liquidity and provide a robust infrastructure for decentralized applications.
The native token of Jito, JTO, serves as a governance token within the Jito ecosystem. JTO holders can participate in key decisions regarding the network's future, including voting on JitoSOL staking pool fees, updating delegation strategies, and managing the DAO's treasury. The initial distribution of JTO was determined based on contributions to the development and growth of the Jito network over time.
Recent performance:
Current price: $2.96 (approximately €2.80)
24-hour change: +13.47 %
Market capitalization: $879.55 million
Rank on CoinMarketCap: #83
24% of cryptos at their lowest in a year: Buy signal or the start of a bear market ?
The crypto market is going through a troubling phase, with 24% of the 200 largest digital assets reaching their lowest level in a year. This situation, exacerbated by a wave of massive liquidations since February 7, 2025, fuels fears of an imminent capitulation. This critical threshold recalls the correction of August 2024, where 28% of cryptos had hit a yearly low. Are we still in a bullish market, or are we witnessing the start of a sustained bearish phase?
The key factors behind the decline of altcoins
Two main dynamics explain this drop :
Cascade liquidations: The total market capitalization of the crypto market has fallen to $3.13 trillion, with heavily indebted positions being purged, particularly in Solana, one of the assets most exposed to leverage. However, this brutal correction could prepare for a rebound if liquidity stabilizes.
The impact of memecoins: The rise of ultra-speculative tokens diverts capital away from more established projects, which disrupts the recovery of altcoins. According to Edwin Mata, CEO of Brickken, this fragmentation makes the market less predictable, increasing volatility and uncertainty.
A market on the edge of the precipice or a buying opportunity ?
Some experts believe that this correction could be a necessary purge before a new bullish momentum, provided that macro-economic indicators improve. However, the absence of a rapid rebound could suggest a change of cycle towards a more bearish market. The key in the coming weeks will therefore lie in the analysis of capital flows and the behavior of institutional investors.
It remains to be seen whether this situation represents a strategic buying opportunity, or if it heralds a prolongation of the bearish trend.
