🚀 Bitcoin takes off: FED could reduce rates as early as September!
🚀 Bitcoin takes off: FED could reduce rates as early as September!
Welcome to the Daily Tribune Saturday, August 24th, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, August 24th, 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! ⏱
🚀 Bitcoin soars as the FED considers rate cut in September
Bitcoin has experienced a significant increase after Jerome Powell, the FED chairman, hinted at a possible interest rate cut in response to signs of economic slowdown and a decline in inflation. Financial markets anticipate this easing with a 67% probability of a 0.25% reduction in September, which has boosted interest in digital assets like Bitcoin. In a matter of hours, the price of BTC increased by nearly 6%, reaching $64,500. This surge highlights the crypto market's sensitivity to monetary policies, although analysts warn of volatility risks associated with these rapid fluctuations. 🔗Read the full article here.
💸 Bitcoin transaction fees reach $140 with the launch of Babylon staking
The launch of the Babylon staking system for Bitcoin on August 22nd, 2024, has caused a dramatic surge in transaction fees, which have gone from less than $1 to levels between $132 and $137, even reaching close to $140. Babylon, by introducing self-custodial staking, allows users to lock their BTC through smart contracts, thereby integrating Bitcoin into a proof-of-stake (PoS) ecosystem. This enthusiasm for staking has led to an auction war for transaction fees, as over 12,700 stakers and 20,610 solo delegates quickly joined the program, demonstrating the growing interest in Bitcoin staking solutions. The success of this launch, supported by solid funding, demonstrates investors' confidence in Babylon to redefine Bitcoin's role in decentralized finance. 🔗 Read the full article here.
🛡️ Monero revolutionizes privacy with FCMP++
Monero, already known for its commitment to privacy, takes a further step with the introduction of the Full-Chain Membership Proofs (FCMP++) feature. This innovation allows proving that a spent output in a transaction is part of the existing outputs without revealing which one, thus reinforcing user anonymity. Thanks to FCMP++, the number of possible outputs for a transaction has increased from 16 to 100 million, making transaction tracing practically impossible. This improvement positions Monero as an impassable barrier against decryption attempts and growing threats to digital privacy, be it state surveillance, industrial espionage, or hacking. Monero reaffirms its status as a security leader in the crypto ecosystem, while continuing to perfect its technologies to stay at the forefront. 🔗 Read the full article here.
🇺🇸 Kennedy's withdrawal: A blow to pro-crypto in the USA?
Robert F. Kennedy Jr., one of the most fervent advocates of cryptocurrencies, has announced his withdrawal from the 2024 presidential race, creating shockwaves among his supporters. This surprising withdrawal could be accompanied by support for Donald Trump, who, although initially skeptical, has recently shown openness to Bitcoin, including participating in the Bitcoin conference in Nashville. Kennedy's support for Trump could have a significant impact on cryptocurrency regulation in the United States. Investors perceive this political dynamic as an opportunity to see more crypto-friendly policies under a potentially reelected Trump administration. 🔗 Read the full article here.
Crypto of the day: Jupiter (JUP)
Jupiter stands out for its fast and secure blockchain network built on Solana, which enables high-speed transactions while offering low energy consumption. Jupiter's major innovation lies in its ability to support decentralized applications (dApps) and smart contracts, while ensuring user privacy and security. Jupiter's blockchain is designed to be scalable and adaptable, thereby providing a robust infrastructure for the development of DeFi projects and decentralized exchanges.
The native cryptocurrency of the platform, JUP, is primarily used for transaction fees and as a means of exchange within the Jupiter ecosystem. It was distributed through an initial coin offering (ICO) and continues to be used to reward network participants. JUP holders benefit from fee reductions on transactions and can participate in network governance decisions. Additionally, JUP can be used to access premium services on decentralized application platforms connected to Jupiter.
Recent performance:
Current price: €0.84
Percentage increase/decrease: +11.84% (increase in 1 day)
Market capitalization: €1,246,522,082
Rank on CoinMarketCap: #58
🎉 Shibarium celebrates its 1st anniversary with stunning records and new innovations!
Shibarium, the L2 blockchain of the Shiba Inu project, celebrates its first anniversary with impressive results. In just one year, Shibarium has processed over 417 million transactions and facilitated the creation of 1.8 million wallets. The platform has also reduced asset withdrawal time from seven days to only 45 minutes, demonstrating increased efficiency. Three major hard forks have strengthened the network's performance while automating SHIB burns, consolidating its position in the cryptocurrency ecosystem.
In addition to these achievements, Shibarium has introduced several innovations that have enriched the Shiba Inu ecosystem. Among these new features, the integration of a fiat-on-ramp service enabling the purchase of BONE with credit cards, as well as the arrival of tokens such as K9 Finance DAO (KNINE) and Bad Idea AI (BAD) via the Shibarium Bridge, have been particularly well-received by the community. Furthermore, the launch of the third-party bridge Holchi has provided users with additional flexibility. Despite a rocky start with two weeks of downtime, Shibarium has managed to bounce back and remain stable ever since.
🔗 Read the full analysis here.
