💰 BlackRock and Metaplanet accumulate BTC
Welcome to the Daily Tribune of Saturday, October 12, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, October 12, 2024, and like every day from Tuesday to Saturday, we summarize the news from 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! ⏱
⚠️ The Market is Crashing: Two Giants Rush for Bitcoin
The day before yesterday, Bitcoin fell below $61,000, causing concern among investors, but BlackRock and Metaplanet have once again seized this opportunity to strengthen their positions. BlackRock acquired an additional 12,272 BTC, reaching nearly 369,822 BTC in reserve, worth about $22.4 billion.
Metaplanet, led by Jaan Tallinn (co-founder of Skype), also reinforced its positions by purchasing 108.99 BTC. While market volatility persists, BlackRock and Metaplanet are betting on long-term stability by buying in these dips.
🚀 Solana Takes on E-commerce with Stripe
Stripe is making a notable return to the crypto universe by integrating USDC payments on the Solana network, as well as on Ethereum and Polygon. After abandoning Bitcoin in 2018 due to its volatility and transaction delays, Stripe is now betting on stablecoins to ensure smooth and stable payments. Merchants will receive U.S. dollars directly after conversion.
Solana stands out among the blockchains supported by Stripe thanks to its exceptional performance: fast transactions and almost zero fees. This partnership with Stripe strengthens Solana’s position as a next-generation payment infrastructure and demonstrates the growing maturity of this blockchain ecosystem. By partnering with a key player like Stripe, Solana takes a significant step toward massive cryptocurrency adoption in online commerce.
⏳ Mt. Gox Delays Repayment to Creditors by One Year
The Mt. Gox platform, which fell victim to a high-profile hack in 2014, has announced the postponement of creditor repayments to October 31, 2025. Although this decision is intended to provide more time to resolve administrative and technical obstacles, it extends the wait for victims who have been hoping to recover their funds for nearly ten years. Mt. Gox has already reimbursed about 21,000 creditors in Bitcoin and Bitcoin Cash, but there are still 45,000 BTC (about $2.75 billion) left to distribute.
This delay reassures the market by reducing the risk of a massive BTC sell-off in the short term, providing a temporary respite for prices. Analysts agree that this decision could stabilize the market, but they warn of other factors that could influence volatility. This new delay could also heighten mistrust toward centralized exchange platforms and encourage the adoption of decentralized solutions.
🔗 Uniswap Unveils Unichain: A Solution to Eclipse Layer 2!
Uniswap Labs, a pioneer in decentralized finance (DeFi), presents Unichain, a Layer 2 blockchain built on Optimism’s OP Stack technology. This solution aims to address the current fragmentation of the Layer 2 market, simplifying the user experience by serving as a central hub interconnected with several chains. Unichain offers impressive performance with blocks generated in just 200 to 250 milliseconds, limiting front-running and MEV (Maximal Extractable Value) risks.
The project also plans to launch a community validation system in 2025, allowing UNI token holders to actively participate in the governance and security of the network. By combining speed, security, and decentralization, Unichain aims to redefine industry standards in DeFi and strengthen Uniswap’s dominant position in the crypto ecosystem.
The Crypto of the Day: ETHena (ENA)
ETHena is based on an innovative infrastructure by integrating with DeFi ecosystems like Binance Labs and OKX Ventures. Its blockchain promotes fast and secure transactions, focusing on decentralized finance (DeFi).
The native token ENA was designed to optimize access to DeFi and improve liquidity on partner platforms. Its distribution relies on an active circulation model with 2.75 billion tokens in circulation out of a total of 15 billion. ENA holders benefit from incentives related to reduced fees and community governance. This token is also used to participate in liquidity pools and earn yields.
Recent Performances
Current price: €0.3317
Increase: +20.26% (over 1 day)
Market capitalization: €909.60 M
Rank on CoinMarketCap: #73
Julian Assange: The Crypto Evangelist Who Also Deserved the Nobel Peace Prize 2024
The 2024 Nobel Peace Prize has been awarded to the Japanese organization Nihon Hidankyo for its efforts toward a world without nuclear weapons, but another candidacy has garnered attention: Julian Assange, founder of WikiLeaks and ardent promoter of Bitcoin. Since 2011, Assange has used Bitcoin as a solution to bypass financial censorship after WikiLeaks was blocked by traditional institutions. His adoption of Bitcoin has made him a steadfast evangelist of this technology, which he has continually touted for its potential to drive economic and social transformation.
The impact of Bitcoin on global peace, although controversial, is based on the idea that a decentralized currency can reduce economic conflicts by limiting state control over financial flows. The blockchain, by providing transparency and resistance to corruption, could also prevent funding for wars. Although the Nobel committee chose another cause this year, Assange's candidacy highlighted the role that cryptocurrency can play in defending digital freedoms and information. His commitment and use of Bitcoin remain an inspiration for advocates of decentralization and freedom of expression worldwide.
🔗 Read the complete analysis here.