🚨 CZ soon free to move!
🚨 CZ soon free to move!
Welcome to the Daily Tribune Tuesday, September 17, 2024 ☕️
Hello Cointribe! 🚀
Today is Tuesday, September 17, 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:
Partially sunny 🌤️
24h crypto recap! ⏱
CZ soon to be released 🚨
On September 29, 2024, Changpeng Zhao (CZ), founder of Binance, will be released, but the future of the crypto platform remains unclear. Since his incarceration, Binance has shown impressive resilience by continuing to operate without its emblematic figure, despite regulatory pressures from the CFTC and the U.S. SEC. Although his release could potentially revitalize the Binance ecosystem, the question of his return to leadership remains. CZ may choose to stay in the background, considering the ongoing lawsuits and uncertainties hanging over the future of Binance. The platform, which includes projects like Binance Smart Chain and Binance Coin, finds itself at a strategic crossroads, between redefining its leadership and legal challenges to overcome.🔗 Read the full article here
Toncoin jumps 25% in one week and re-enters the top 10 crypto 🚀
Toncoin has regained its place among the ten largest cryptocurrencies after a spectacular increase of 25% in one week, bringing its market capitalization to over $14.5 billion. This rise follows a tumultuous period caused by the arrest of Pavel Durov, the CEO of Telegram, in late August 2024, on charges of drug trafficking and organized fraud, which had triggered panic in the market, causing Toncoin's capitalization to drop from $17 to $11.5 billion. The rapid rebound of Toncoin is explained by increased demand from investors and positive developments within its ecosystem, particularly technological updates and strategic partnerships.🔗 Read the full article here
The Pectra update divided to save Ethereum in 2025 🛠️
The major update of Ethereum, Pectra, will be divided into two to accelerate its deployment and avoid a failure in 2025. Initially planned as a single upgrade, this division aims to reduce risks and deliver a first phase by February 2025, followed by a second. Developers are thus seeking to ensure a gradual and controlled deployment to meet the urgent need to modernize the network in the face of growing competition. Pectra combines two projects: Prague for improving execution and Electra for optimizing consensus, two critical elements for Ethereum's efficiency. Although this split is seen as necessary, it raises concerns about governance and network stability, particularly if one of the phases were to be delayed. Despite the challenges, this calculated approach could solidify Ethereum's position as a sector leader.🔗 Read the full article here
Bitcoin left aside: miners turning to AI to survive 🤖
Faced with plummeting profitability, Bitcoin miners are migrating towards artificial intelligence to diversify their activities and maintain their infrastructures. Despite a record hash rate that demonstrates the power of the network, mining profits continue to decline, driven by high operating costs and intense competition. Companies like Core Scientific, once leaders in mining, are now redirecting their computing power towards AI and high-performance computing (HPC), thus finding a more stable and lucrative alternative. With strategic agreements and cutting-edge infrastructure, these repurposed miners become key players in the AI sector, where the demand for massive processing capabilities continues to grow. 🔗 Read the full article here
The crypto of the day: Fantom (FTM):
Fantom stands out with its fast and highly scalable blockchain, based on a unique asynchronous consensus model called Lachesis. This technology allows for nearly instant low-cost transactions, offering a more efficient alternative to traditional networks. Fantom's blockchain brings notable added value in terms of scalability and flexibility, attracting numerous dApp developers, particularly in DeFi and enterprise solutions.
The native crypto, FTM, is primarily used to secure the network via staking, pay transaction fees, and participate in governance. Initially distributed through private and public sales, FTM offers holders benefits such as staking rewards and reduced fees on the network. It can also be used for integration into various ecosystems of decentralized applications.
Recent performances
Current price: €0.567
24h change: +11.98%
Market capitalization: €1,589,571,658
Rank on CoinMarketCap: #47
Bitcoin mining on the brink despite record hash rate!
The Bitcoin mining sector is going through a critical phase, marked by a historic drop in profitability, according to a JPMorgan report. Two main factors contribute to this situation: the price of Bitcoin remaining below $60,000, limiting miners' revenues, and a record increase in hash rate, intensifying competition among miners. This combination causes the "hash price" to drop by more than 50% compared to its pre-halving level, which significantly compresses margins. Miners must deploy increased computing power to secure blocks, which raises their operational costs, while revenues are declining. This situation creates a "double whammy" for mining companies, with plummeting revenues and rising expenses.
Despite this difficult context, some companies listed in the U.S., such as Hut 8, are showing signs of resilience. Their adaptability is reflected in their market capitalization, which remains significant at $20 billion, despite a recent decline. Short-term prospects suggest a slowdown in hash rate growth, which could provide a respite for miners to optimize their operations. This post-halving adjustment period could allow the most innovative and resilient players to weather the crisis, even though challenges remain numerous and the mining sector must continually evolve to maintain its economic viability.
🔗 Read the full analysis here.
