💥 Dogecoin and Shiba Inu: the uncontested kings of an explosive year for memecoins!
Welcome to the Daily Tribune of Thursday, December 26, 2024 ☕️
Hello Cointribe! 🚀
Today, it is Thursday, December 26, 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:
24h crypto recap! ⏱
🐶 2024: Memecoins conclude the year beautifully
Memecoins, these ultra-speculative tokens, continue to captivate the attention of investors seeking quick gains. In 2024, they account for one-third of the total interest in cryptocurrencies, according to a study by CoinGecko. Dogecoin remains the uncontested leader with a market capitalization of $49.3 billion, followed by Shiba Inu at $13.8 billion. Memecoins tied to Solana also marked the year, capturing 8% of global interest.
Although their popularity relies on absurd stories and quirky trends rather than solid technological foundations, they particularly appeal to a young and bold audience, often willing to bet big for potentially staggering gains. Despite their ephemeral and risky nature, several memecoins have made historic jumps this year and notably contributed to the record success of Solana.
🚀 Pectra Update: Ethereum on the brink of a new era
Scheduled for early 2025, the Pectra update represents a major advancement for Ethereum and should help it address its scalability limits and enhance the user experience. By increasing the validator cap from 32 ETH to 2048 ETH, this update promises to significantly reduce the load on the network and improve its overall efficiency. Progress in account abstraction and interoperability between layer 2 solutions will facilitate interactions and enhance the network's attractiveness for developers and institutions.
This technological shift coincides with the arrival of a pro-crypto administration in the United States, announcing a more favorable regulatory framework capable of accelerating institutional adoption and stimulating innovation. With optimistic perspectives, some analysts predict a record potential for the price of ETH, which could reach $7,000 by 2025.
🌍 Moscow bets on Bitcoin to bypass international sanctions
In the face of a wave of Western sanctions, Russia is integrating Bitcoin as a strategic lever to reduce its dependence on the dollar. Since September 2024, the country has been experimenting with a legal framework that allows the use of digital financial assets (DFA) in international trade. According to Finance Minister Anton Siluanov, this approach relies on Russia's vast energy resources to mine Bitcoin, thus transforming this cryptocurrency into a key tool for exchanges with other sanctioned nations.
Although Moscow has legalized mining and the DFA framework, the use of cryptocurrencies as a means of payment remains prohibited in the country. At the same time, Russia warns its citizens against the risks of speculation, reminding them that Bitcoin does not guarantee quick gains. By targeting a new multipolar economy and inviting the BRICS to adopt these practices, Russia is working to redefine the rules of the global economic game while strengthening its crypto infrastructure by 2025.
💰 MicroStrategy wants to bet $42 billion to dominate Bitcoin
MicroStrategy, a pioneer of institutional investment in Bitcoin, unveils its bold "21/21" plan aimed at raising $42 billion to consolidate its position in the crypto market. This project plans to raise $21 billion through stock sales and another $21 billion through fixed-income securities, enabling massive acquisitions of BTC over three years. The company, led by Michael Saylor, seeks to maximize its Bitcoin holdings, which it considers a pillar of alternative value amidst the instability of the traditional financial system.
However, this strategy carries risks, including BTC price volatility and concerns related to potential stock dilution. Already holding 444,262 BTC, worth $43.5 billion, MicroStrategy is redefining the standards of institutional investment while betting on increased adoption of cryptocurrencies. If this bet succeeds, it could inspire other companies to follow this bold path.
Crypto of the day: IOTA (IOTA)
IOTA innovates with a unique infrastructure based on a directed acyclic graph (DAG), nicknamed the "Tangle," which eliminates the need for traditional miners. This structure promises increased scalability and the absence of transaction fees, making it ideal for micro-transactions and IoT (Internet of Things) applications.
The native cryptocurrency, also named IOTA, was distributed via an ICO in 2015 and mainly serves as a means of exchange within this ecosystem. IOTA holders enjoy direct participation in a network without fees and can use it for IoT applications, secure payments, and data transfers. The major innovation of this blockchain is its ability to connect billions of devices in a decentralized trust network.
Recent performance
Current price: €0.3055
Change over 24 hours: -8.99 %
Market capitalization: €1.09 billion
Rank on CoinMarketCap: #94
Ethereum: A historic turning point in January 2025?
Crypto analyst Michael van de Poppe predicts that Ethereum (ETH) could outperform Bitcoin (BTC) in terms of relative performance as early as January 2025. Currently, the ETH/BTC ratio stands at 0.0356, but van de Poppe anticipates it could exceed 0.04, a level last reached when ETH was valued over $4,000.
Such momentum could also stimulate altcoins, with Ethereum-based tokens such as Shiba Inu (SHIB) or Mantle (MNT) potentially benefiting from this trend.
Meanwhile, the growing adoption of Ethereum-based ETFs also plays a significant role. Nate Geraci, president of ETF Store, highlighted that net flows into ETH ETFs are now rivaling those of Gold ETFs, a sign of institutional interest in Ethereum.
If these trends continue, they could lead to a widespread "altcoin run," consolidating Ethereum's position as a key asset in the digital economy.
