⚖️ Dogecoin soon on traditional markets? The SEC facing a historic decision!
Welcome to the Daily Tribune of Thursday, January 30, 2025 ☕️
Happy New Year to Cointribu! 🚀
Today is Thursday, January 30, 2025, 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:
Sunny ☀️
24h crypto recap! ⏱
🔥 Arizona ready to bet on Bitcoin?
The Arizona Senate has validated a bill allowing the state to invest up to 10% of its public funds in Bitcoin. This text, carried by Senator Wendy Rogers and Representative Jeff Weninger, aims to establish a strategic Bitcoin reserve for the State Treasury, also including pension funds. Arizona could thus become a pioneer in the institutional adoption of BTC, and several states like Texas or Pennsylvania are closely monitoring this initiative. The pro-crypto policies of the Trump administration and the growing interest from institutional investors could accelerate this adoption, with some analysts even predicting Bitcoin could reach $500,000 in the long term. 🔗 Read the full article
🚀 Bitwise attempts a Dogecoin ETF!
Bitwise, a company specializing in crypto asset management, has just submitted a request to the SEC for a Dogecoin-based ETF. This initiative comes as crypto ETFs, particularly those related to memecoins, are witnessing growing interest. Matt Hougan, Bitwise's Chief Investment Officer, justifies this move by reminding that Dogecoin is the 6th crypto asset in terms of market capitalization and generates over a billion dollars in daily volume. However, DOGE has recently dropped by 4%, and an additional loss of 37% is expected if a key support level is broken or if the SEC rejects the application. 🔗 Read the full article
🇨🇿 Czech Republic ready to inject $7 billion into Bitcoin?
The Czech National Bank is considering investing $7 billion in Bitcoin to diversify its reserves. Aleš Michl, the central bank governor, proposes to allocate 5% of the institution's reserves to BTC, amid a rise in institutional interest and approval of Bitcoin ETFs in the United States. This initiative could make the Czech Republic the first European central bank to invest in Bitcoin, paving the way for other monetary institutions. If this proposal were validated, it would represent over five months of total mined supply in circulation, which could have a significant impact on the crypto market. 🔗 Read the full article
📈 Solana aims for its ETF after the 2024 failure!
After a first unsuccessful attempt in 2024, the Cboe BZX resumes Solana ETF requests on behalf of Bitwise, VanEck, 21Shares, and Canary Capital. With a new interim president at the SEC, Mark Uyeda, perceived as more crypto-friendly, the chances of acceptance are increasing. If the Solana ETF is approved, it could attract between $3 and $6 billion in net assets within the first year. Meanwhile, other cryptos like Litecoin, XRP, and Dogecoin are also in the running for an ETF, benefiting from the regulatory evolution in the United States, particularly the removal of the SAB 121 accounting rule that hindered companies holding cryptos. 🔗 Read the full article
🔥 An institutional adoption that is accelerating: Among the US states wanting to hold Bitcoin, the European central banks interested in it, and the multiplication of ETF requests for Solana and Dogecoin, 2025 could very well be a decisive year for regulation and integration of cryptos into traditional financial markets. It remains to be seen how regulators will react!
Crypto of the day: Onyxcoin (XCN)
Onyxcoin operates on the Onyx protocol, a multi-asset blockchain platform that simplifies and secures the management of digital assets. Its main advantage is to enable interoperability between different networks while maintaining strict control over assets. It uses an immutable digital ledger where each transaction is recorded and verified, thus ensuring transparency and security. Its uniqueness lies in its ability to simultaneously manage multiple types of digital assets through specific rules of issuance and control.
The XCN (Onyxcoin) is the central token of the Onyx protocol. It serves for governance and utility within the ecosystem. XCN holders participate in decisions through a decentralized organization (DAO), with each staked token representing a vote. Furthermore, staking allows users to receive rewards in the form of XCN.
Recent Performance
Current price: €0.03916
24h change: +37.85%
Market capitalization: €1.2 billion
Ranking on CoinMarketCap: #77
Can Solana regain its glory? Three key factors to watch
After a strong volatility led to a drop of 17.2% in just three days, Solana shows contradictory signals even though yesterday, like all other cryptos, it started its rise.
Its on-chain activity has significantly dropped, with a 40% decrease in transaction volumes. This decline has particularly impacted major protocols like Orca (-62%) and Meteora (-45%), reflecting a loss of dynamism within its ecosystem. However, some specific sectors are resisting better. For example, the DEX Raydium maintains a significant trading volume, while speculative projects like Pump.fun record an increase in activity. This market fragmentation raises pockets of resilience, although the overall lack of transactions may slow adoption and weaken Solana’s competitiveness against other blockchains.
Despite this decrease in activity, a key indicator, the Total Value Locked (TVL), suggests a gradual stabilization. Over a month, it has increased by 27%, surpassing Ethereum and BNB Chain. This renewed confidence largely relies on the rise of staking solutions and decentralized finance, with players like Jito and Binance Staked SOL recording significant deposit increases. However, this optimism remains fragile. Investors, particularly in the derivatives market, show heightened caution. The premium on SOL futures contracts peaked at 12% before falling to 6%, illustrating limited enthusiasm. Moreover, the recent price increase of SOL (+21% over a month) seems driven by speculative movements, particularly around the "Trump" token and memecoins, raising doubts about the strength of the rebound.
Three key elements will determine if Solana can regain its historical peaks. First, a migration of stablecoins from Tron to Solana could strengthen the network's liquidity. Next, the development of Web3 applications and the integration of artificial intelligence could solidify its long-term positioning. Finally, investor confidence must be restored through tangible evidence of network resilience, such as increased adoption by businesses and a rise in trading volumes on DEX.
In the absence of these catalysts, Solana's rebound will remain fragile and depend more on passing fads than on a real consolidation of its ecosystem.