📉 Bitcoin, Solana, XRP and Dogecoin plunge after $1 billion in liquidations!
Welcome to the Daily Tribune of Tuesday, February 25, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Tuesday, February 25, 2025, and as 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:
Stormy ⛈️
24h crypto recap! ⏱
🐶 Shiba Inu: Shibarium crashes, -96% activity in a week!
The Shibarium blockchain, meant to boost Shiba Inu (SHIB), is undergoing a major crisis with a drop of 96% in daily transactions. In just a few days, activity has dropped from 4.77 million to 52,410 transactions, directly affecting the demand for SHIB and the burn mechanisms. The price of SHIB, already in trouble, has lost 23.9% in a month and threatens critical supports at $0.000011 and $0.000008. Without a resurgence of market interest, Shiba Inu could see its hype extinguished for good, taking with it one of the most popular memecoins. 🔗 Read the full article
🏦 Strategy hits hard: +20,356 BTC, soon reaching 500,000 BTC!
Strategy (ex-MicroStrategy) continues its accumulation with 20,356 additional BTC purchased between February 18 and 23, bringing its treasure to 499,096 BTC. This new purchase, financed by $2 billion in convertible bonds, strengthens Michael Saylor's ultra-bullish strategy. With 2.3% of the global supply under its control, Strategy establishes itself as one of the most influential institutional players in the crypto market. If BTC crosses $150,000, this approach could generate historic gains for the company. 🔗 Read the full article
🇩🇪 Bitcoin and the German election: towards more favorable regulation?
The early German election saw Olaf Scholz’s defeat and his coalition replaced by the CDU/CSU alliance with Friedrich Merz as a potential chancellor. This political shift could have a direct impact on Bitcoin regulation. The former coalition had been criticized for liquidating over 50,000 BTC at low prices, while the AfD, which doubled its number of seats in the Bundestag, advocates for a more crypto-friendly approach. It notably proposes the removal of capital gains tax and opposes CBDCs. If the U.S. continues to adopt Bitcoin with a national BTC reserve under Trump, Germany may be forced to adopt a more crypto-friendly policy to remain competitive. 🔗 Read the article
📉 The crypto market collapses: Bitcoin, Solana, XRP and Dogecoin under pressure!
The crypto market is undergoing a brutal correction, with $1 billion liquidated in 24 hours. Solana drops 14%, XRP and Dogecoin lose over 8%, while Bitcoin falls below $91,000, its lowest level since November. This massive liquidation, amplified by long positions liquidated on Bitcoin ($277 million), triggers a widespread panic.
The causes of this drop are multiple:
A decrease in institutional inflows, with $552.5 million in net outflows from Bitcoin ETFs in one week.
An increased correlation with traditional markets, with the Nasdaq losing 4% in a week.
An uncertain macroeconomic environment, with persistent inflation and a global economic slowdown.
The coming days will be crucial: a rebound could restore confidence, but a continuation of the drop could increase pressure on the entire crypto sector. 🔗 Read the full article
The crypto of the day: Telcoin (TEL)
Telcoin is a decentralized financial platform that aims to combine blockchain technologies with telecommunications services to offer fast and low-cost money transfer solutions. By partnering with mobile network operators (MNOs) around the world, Telcoin allows users to send and receive funds directly via their mobile phones, without relying on traditional financial institutions. This approach aims to improve financial inclusion, especially in regions where access to banking services is limited.
The native token of Telcoin, TEL, is used as a unit of account and means of exchange within the Telcoin platform. Users can use TEL to access the decentralized financial (DeFi) services offered by the platform, such as international transfers and payments. Additionally, TEL serves as a gas token for transactions on the Telcoin network and is used to pay transaction fees. The initial distribution of TEL was conducted in 2017, with a maximum supply set at 100 billion tokens.
Recent performance:
Current price: $0.0085826 (approximately €0.0081)
24-hour change: 17.05%
Market capitalization: $783.31 million
Rank on CoinMarketCap: #82
Binance massively liquidates its Ethereum positions: A worrying signal for the market?
In an already fragile context due to the massive hacking of Bybit, Binance initiated significant sales of Ethereum (ETH), amplifying market volatility. ETH, which recently rose to $2,850, has heavily dropped. This wave of liquidations raises questions, especially as a suspicious transfer of $49.5 million was detected from an unverified Ethereum contract, immediately converted to DAI stablecoin.
Binance and Bybit: A chain of troubling events
The Bybit hack, involving $1.46 billion stolen in ETH and other ERC-20 tokens, has amplified market instability. This hack, attributed to the Lazarus group, led to massive withdrawals from the platform. Despite this, Bybit managed to replenish its reserves within 72 hours, mobilizing 446,870 ETH through strategic partnerships with Galaxy Digital, FalconX and Wintermute. This rapid crisis management has allowed the exchange to stabilize its situation, although its assets under management have dropped from $16.9 to $10.8 billion.
A tense market, a quick reaction expected
The accumulation of these events—massive liquidations by Binance, Bybit hack, suspicious transfers—raises questions about a potential interconnection between these incidents. The crypto industry is going through a phase of high uncertainty, where every major move by key market players can lead to chain reactions. The market is now awaiting a response from Binance to clarify the reasons for these liquidations and understand whether they are strategic or a reflection of a deeper crisis.
