🚨 BTC dominates the market, VanEck refuses to give up on its Solana ETF, Hamster Kombat in crisis!
🚨 BTC dominates the market, VanEck refuses to give up on its Solana ETF, Hamster Kombat in crisis!
Welcome to the Daily Tribune on Thursday, August 22, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, August 22, 2024, and like every day from Tuesday to Saturday, we summarize the news of the past 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 Strengthens Its Supremacy in the Crypto Market
Bitcoin continues to consolidate its dominance in the cryptocurrency market, reaching a market share of 56.2% in August 2024, compared to 38.7% in November 2022. This increase highlights investors' preference for BTC as a safe haven, particularly during times of economic uncertainty. However, a recent drop to 55% of this dominance could signal the beginning of an altcoin season, where alternative cryptocurrencies could attract more investments. Fluctuations in Bitcoin dominance are influenced by the performance of BTC, the evolution of altcoins, and the arrival of new cryptocurrencies, making the crypto market more dynamic and unpredictable. 🔗Read the full article here.
🛡️ VanEck Persists with Solana ETF Despite Regulatory Challenges
VanEck, an asset manager, remains determined to launch an Exchange-Traded Fund (ETF) based on Solana, despite regulatory obstacles. The withdrawal of the 19b-4 filing by CBOE had suggested a possible abandonment of the project, but VanEck quickly dispelled these doubts by stating that the withdrawal did not mean the end of the Solana ETF. The company continues to collaborate with its partners to meet the requirements of the SEC. Solana, although it has not yet reached the market capitalization of Bitcoin or Ethereum, is seen as a promising asset due to its advanced blockchain technology and growing ecosystem. The launch of this ETF could provide increased visibility to Solana and facilitate traditional investors' access to this crypto, while potentially marking a turning point in the crypto market. 🔗 Read the full article here.
⚠️ Internal Conflicts Threaten Hamster Kombat's Airdrop
Hamster Kombat is facing serious internal tensions that jeopardize the planned airdrop of its HMSTR token. Conflicts between investors, including the company AD.RU, and the development team have erupted, with each accusing the other of financial misconduct. AD.RU, which invested $600,000 in the project, claims 25% of the shares, but project leader Eduard Gurinovich disputes this stake. The situation escalated with the departure of Nikita Anuriev, former marketing director, in disagreement over profit sharing. These conflicts not only delayed the airdrop but also led to a drop of over 50% in the value of the HMSTR token on trading platforms. The project, already weakened by technical constraints related to the TON network, is at a critical moment, with an increasingly skeptical community regarding its viability. 🔗 Read the full article here.
🤝 El Salvador and Argentina Join Forces around Bitcoin
El Salvador continues to lead the Bitcoin revolution by launching a massive certification program for 80,000 government officials, aiming to integrate crypto into the workings of the state. This training, orchestrated by the National Bitcoin Office (ONBTC), offers a 160-hour curriculum covering legal and political aspects of Bitcoin and is taught by the Higher School of Innovation in Public Administration (ESIAP), created by President Nayib Bukele. This initiative aims to position El Salvador as a global leader in Bitcoin adoption. Meanwhile, Argentina, struggling with severe economic difficulties, shows keen interest in this experience and explores possibilities for cooperation with El Salvador. Both countries, through their respective institutions, are considering collaborating on the regulation and adoption of cryptocurrencies, hoping to stabilize their economies with Bitcoin. 🔗 Read the full article here.
Crypto of the day: Fantom (FTM)
Fantom stands out for its fast and scalable blockchain technology, called Lachesis, which is a Directed Acyclic Graph (DAG) consensus. This innovation allows for almost instant transactions with very low fees, making it ideal for decentralized applications (dApps) and decentralized finance (DeFi). Fantom positions itself as an efficient solution to the scalability issues of traditional blockchains.
The native crypto, FTM, is primarily used for staking, network governance, and transaction fees. It was initially distributed through an ICO and offers advantages to holders such as staking rewards, active participation in governance decisions, and fast and cost-effective transactions within the Fantom ecosystem.
Recent Performances
Current Price: €0.43
Percentage Increase/Decrease: +13.45% (rise in 1 day)
Market Cap: €1.29 billion
Rank on CoinMarketCap: 55
💥 Bitcoin Consolidates, Is a Rise or Fall Coming in the Crypto Market? Analysis of August 21, 2024
After a notable rebound following a significant drop, Bitcoin has entered a consolidation phase, fluctuating between $56,000 and $62,800. After hitting a low of $49,200, BTC recovered nearly 28%, reaching a peak of $62,800 before encountering resistance. Currently, Bitcoin is trading around $59,700, but technical signals show an uncertain trend, with a "death cross" formed by the 50-day and 200-day moving averages. However, Bitcoin has stabilized above its annual and weekly VWAP, suggesting a possible continuation of consolidation in the short term.
The outlook for Bitcoin remains mixed. If the price manages to stay above $56,000, further gains could bring it to test resistance levels at $62,800 and then $67,000. Conversely, a break below $56,000 could lead to a correction towards $55,000, or even $49,200 in the case of increased bearish pressure.
🔗 Read the full analysis here.
