🚀 Cardano surpasses Ethereum, ⚠️ Hamster Kombat says no to investors
🚀 Cardano surpasses Ethereum, ⚠️ Hamster Kombat says no to investors
Welcome to the Daily Tribune Wednesday, August 14, 2024 ☕️
Hello Cointribe! 🚀
Today is Wednesday, August 14, 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! ⏱
Cardano surpasses Ethereum 🚀
Cardano, the issuer of the ADA cryptocurrency, has surpassed Ethereum in terms of development activities, ranking third in the ranking established by the Santiment platform with a score of 452.85. This rise in power is fueled by initiatives such as the "Chang" update, which strengthens the security and stability of the blockchain. Despite a challenging market, Cardano continues to innovate, consolidating its position with a significant increase in transactions and renewed interest from investors. 🔗Read the full article here.
Mt. Gox: Imminent release of $2 billion in Bitcoin 💰
Mt. Gox, the bankrupt crypto exchange since 2014, seems ready to release an additional $2 billion in Bitcoin, after a transaction test detected by Arkham Intelligence. This transfer, coming from a wallet associated with BitGo, one of the partners responsible for the distribution, suggests an imminence of the long-awaited reimbursements by the creditors. However, this potential massive release of funds worries the crypto community, who fears a mass sell-off that could cause the price of Bitcoin to drop. The previous movement of funds from Mt. Gox had already caused a significant drop in the price of BTC. Creditors, being vigilant, scrutinize each movement, while waiting for an official confirmation from BitGo to continue. 🔗 Read the full article here.
Investors flock to Ethereum 💸
Amidst a brutal market correction, Ethereum has stood out with impressive resilience, attracting $155 million in inflows in just one week, the highest performance among cryptocurrencies. This momentum, favored by the growing interest in spot-based ETFs in the United States, has allowed Ethereum to record a total of $862 million in new investments since the beginning of the year, a record since 2021. While the overall cryptocurrency market has seen its value drop before stabilizing at $85 billion, Ethereum has not only led the recovery but has also redefined expectations, with derivatives trading volume reaching $19 billion, well beyond the annual average. 🔗 Read the full article here.
Hamster Kombat says no to investors to protect its Community 🎮
Hamster Kombat, the rising crypto game with over 300 million users, recently turned down enticing offers from major venture capital firms, choosing to remain loyal to its community. The team announced on Telegram that their priority was to protect the interests of players rather than succumb to outside capital. This choice, unusual in an industry often dominated by financial interests, has increased the game's popularity, especially since it has planned the largest crypto airdrop in history, with 60% of HMSTR tokens reserved for players. However, this success also attracts scammers who try to trap users with fake airdrops and phishing attacks. 🔗 Read the full article here.
Crypto of the day: Toncoin (TON)
Toncoin (TON) is the native cryptocurrency of The Open Network (TON) blockchain, an innovation originally developed by Telegram. This Layer 1 blockchain stands out for its ability to handle a high number of transactions with minimal latency, providing significant added value in terms of scalability and performance.
Toncoin is mainly used to pay transaction fees, secure the blockchain through staking, and participate in decentralized governance. Initially, Toncoin tokens were distributed through an airdrop to the Telegram community before being traded on the open market. Toncoin holders not only benefit from direct participation in the network but also have the opportunity to generate passive income through staking.
Recent performance:
Current price: €6.15
Percentage increase/decrease: +6.55% (decrease in 1 day)
Market capitalization: €15.63 billion
Rank on CoinMarketCap: #8
🎯 Bitcoin rebound, upcoming crypto market recovery? Analysis of August 13, 2024
Bitcoin, after experiencing a sharp drop due to concerns about a recession in the United States, rebounded significantly, recording an increase of nearly 28% and reaching a peak of $62,800. However, this recovery encountered resistance at this level, and the price of BTC stabilized around $59,500. Although short-term momentum seems to be turning bullish again, technical signals like the formation of a "death cros" between the 50-day and 200-day moving averages suggest persistent fragility. Bitcoin remains below these averages, and its overall momentum still appears weak, creating uncertainty about its ability to maintain sustained bullish movement.
Furthermore, interest in perpetual contracts on Bitcoin slightly increased before fading, indicating limited speculative interest. The market could enter a consolidation phase, with significant liquidation levels located above the current price of Bitcoin, particularly around $66,000 and $72,000. These areas represent critical points of interest for investors, and their approach could trigger an increase in volatility. In this context, the medium to long-term trend of Bitcoin remains uncertain, and investors must remain vigilant against potential fluctuations and false market breakouts. 🔗 Read the full analysis here.
