Bitcoin integrates French Retirement Savings Plans 💼
Welcome to the Daily Tribune Saturday, July 13, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, July 13, 2024, 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! ⏱
SEC closes investigation into BUSD without sanctions 🚫
The SEC has ended its investigation into the stablecoin BUSD, issued by Paxos in partnership with Binance, without imposing any sanctions. This investigation primarily focused on the legality of BUSD and whether it could be considered a financial security. Despite speculation, the SEC found no reason to take coercive action against Paxos, a decision that was welcomed by major industry players like Jeremy Allaire from Circle and Juan Leon from Bitwise. This decision strengthens investors' confidence in stablecoins and could encourage a wider and more secure adoption of these digital assets. 🔗 Read the full article here.
Bitcoin integrates French Retirement Savings Plans 💼
For the first time, Bitcoin enters the French Retirement Savings Plans (PER) through a partnership between VanEck Europe and Inter Invest. This innovative partnership allows the introduction of a Bitcoin Exchange Traded Note (ETN) into the PER, offering savers direct exposure to the leading cryptocurrency. VanEck's Bitcoin ETN, backed by actual bitcoins held by a regulated custodian, provides increased security. This initiative responds to a growing demand from investors for modern and diversified savings options, while representing an important step towards the modernization of retirement savings in France. 🔗 Read the full article here.
XRP takes a step towards institutional recognition 🏦
Ripple has taken an important step towards integrating XRP into the institutional market with the announcement of real-time price indices by the Chicago Mercantile Exchange (CME). These indices, developed in partnership with CF Benchmarks, will provide accurate reference rates for XRP, updated every second based on the activities of major trading platforms such as Coinbase, Bitstamp, and Kraken. Ripple CEO Brad Garlinghouse emphasized the importance of these indices for the development of institutional crypto products, and the possibility of an XRP-based ETF has been discussed. This initiative strengthens the credibility of XRP and could encourage wider adoption by institutional investors seeking reliable measures for their investment strategies. 🔗 Read the full article here.
Bitcoin miners could bounce back with AI 🚀
Following the halving of mining rewards, Bitcoin miners are turning to the development of AI data centers to remain profitable. A report by Bernstein highlights that miners, who control approximately 6 GW of energy access (and project 12 GW by 2027), have a strategic advantage in creating these infrastructures. About 20% of this capacity could be redirected to AI by 2027, with companies like Core Scientific, Tether, and Iris Energy already involved. Bitcoin data centers, ideal for AI due to their high energy density and cooling infrastructure, offer an opportunity to diversify revenue and reduce the impact of crypto market volatility. Bernstein anticipates increased recognition of Bitcoin miners' potential in AI data centers, which could increase the value of their stocks and prepare for a future where Bitcoin and AI coexist harmoniously. 🔗 Read the full article here.
Cryptocurrency of the day: Polkadot (DOT)
Polkadot is an innovative blockchain that enables interoperability between different specialized chains. Its main innovation lies in its fragmented multichain protocol, which facilitates the transfer of data and assets across various blockchains, not limited to tokens. This Relay Chain technology creates a decentralized infrastructure for Web3, allowing for autonomous and forkless upgrades through on-chain governance. The added value of Polkadot is its secure and interoperable network, facilitating the creation of decentralized applications and services.
DOT, the native token of Polkadot, has several main uses: staking for network security and operations, network governance by token holders, and token bonding to connect parachains. Initially distributed through an ICO, DOT offers benefits such as active participation in governance and the ability to receive staking rewards. It can be used to pay transaction fees, participate in network governance, and bond parachains.
Recent performance:
Current price: €5.70
Percentage increase/decrease: +6.62% (1-day increase)
Market capitalization: €8,200,132,275
Rank on CoinMarketCap: 14
Are Shiba Inu whales poised to propel the price of SHIB?
Recent movements of Shiba Inu whales have caught the attention of investors. Santiment's analysis shows that the top 150 wallets associated with centralized exchanges have decreased their holdings by 5.53 billion tokens, while the top 150 autonomous wallets have increased their holdings by 6.57 billion SHIB. This suggests a preference for long-term holding, indicating a potential increase in the price of SHIB, especially if demand remains constant or increases.
These movements come as the price of SHIB has fallen by nearly 28% over the past month. However, in the last 24 hours, the cryptocurrency has seen an increase of nearly 7%. The accumulation of tokens by whales at these price levels could indicate that they see an attractive entry opportunity, anticipating a future recovery. In summary, the recent transfer dynamics of Shiba Inu whales could herald an upward trend for the price of SHIB, while highlighting the importance of the behaviors of major holders in the cryptocurrency market.
🔗 Read the full analysis here.