⚡ Dark revelations about Bitcoin, Stripe's crypto comeback, and the astonishing rise of PEPE!
⚡ Dark revelations about Bitcoin, Stripe's crypto comeback, and the astonishing rise of PEPE!
Welcome to the Daily Tribune, Saturday, April 27, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, April 27, 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:
Rainy 🌧️
24-hour crypto summary ! ⏱️
🔍 Dark truth about Bitcoin mining
Casey Rodarmor, the creator of Bitcoin Ordinals, has revealed a concerning reality about Bitcoin mining, questioning its decentralization. In a series of statements, he revealed that several mining pools, perceived as independent, are actually under the dominant influence of AntPool. This centralization contrasts with Bitcoin's original ideal of censorship resistance and absolute decentralization. Furthermore, data shows that AntPool and Foundry control a significant majority of block mining, raising fears of increased centralization. To counter this trend, Rodarmor supports the Stratum V2 protocol, which would give individual miners more power in selecting transactions.
🌪️ Runes explode: 68% of transactions on Bitcoin
Since their introduction during the last Halving on April 20, Runes have taken over the Bitcoin network, representing over 68% of all transactions. This protocol was launched simultaneously with the halving and has since experienced rapid and massive adoption. The majority of transactions involving Runes are believed to be made by memecoin and NFT enthusiasts seeking to mine rare satoshis. This surge in activity has not only increased mining fees but also raised questions about the sustainability of mining revenue and the impact of block saturation on Bitcoin's original vision as a peer-to-peer payment network. The future of Runes, while promising, remains uncertain in the face of the challenges and opportunities they represent for the ecosystem. 🔗 Read the full article here.
💳 Stripe makes a comeback and reactivates crypto payments
After a six-year hiatus due to market instability, Stripe is set to reintroduce cryptocurrency payments this summer. The online payment giant, which processed $1 trillion in transactions in 2023, had initially suspended this option in 2018 due to Bitcoin's high volatility during the crypto winter. However, with recent developments, such as faster transaction speeds and reduced costs, cryptocurrencies seem viable once again as a means of exchange. Stripe will start by supporting USDC and will expand its services to Solana, Ethereum, and Polygon blockchains.
🚀 This memecoin is the big winner of the Bitcoin halving
The cryptocurrency PEPE has experienced a skyrocketing rise, recording a 47% increase in less than a week following the recent Bitcoin halving. This unprecedented surge was mainly driven by significant purchases by whales, with a single investor accumulating over 211.6 billion PEPE. After a difficult period where the token price had sharply dropped, this significant accumulation contributed to a reversal of the trend, propelling the price of PEPE to new support levels and suggesting a possible long-term recovery. 🔗 Read the full article here.
Crypto of the day: TRON (TRX)
TRON is a public blockchain dedicated primarily to the digital entertainment industry. It aims to build a free and distributed content system, using blockchain technology to enable users to publish, store, and own data autonomously. This platform stands out for its high-speed and low-cost transaction processing, offering significant added value in terms of efficiency and accessibility.
The native cryptocurrency of TRON, TRX, is mainly used to pay for services within the TRON ecosystem, such as accessing decentralized applications (dApps) or digital entertainment services. TRX was initially distributed through a token sale in 2017 and attracted a wide range of investors and supporters. TRX holders enjoy governance rights within the ecosystem, as well as the ability to deploy their own dApps or participate in staking for rewards.
Recent performance
Current price: $0.1199 (approximately €0.11)
Percentage increase/decrease: 2.82% increase in 1 day
Market capitalization: Approximately $10.486 billion (approximately €9.6 billion)
Rank on CoinMarketCap: #13
A $300 billion flow towards Bitcoin ETFs?
Mark Yusko, CEO of Morgan Creek Capital, predicts a massive wave of investments in Bitcoin ETFs, mainly from American baby boomers. According to him, about $300 billion could be injected into the crypto markets in the coming months through retirement fund allocations to these ETFs. Since their recent approval, Bitcoin ETFs have already accumulated a combined value of $53 billion, attracting the attention of major financial players like BlackRock and Fidelity. This potential massive injection of capital could not only transform the landscape of crypto investments but also propel the overall market capitalization well beyond its current value.
