📈 Ethereum explodes records: $2.2 billion influx !
Welcome to the Daily Tribune on Tuesday, December 3, 2024 ☕️
Hello Cointribe! 🚀
Today is Tuesday, December 3, 2024, and like every day from Tuesday to Saturday, we summarize the news from the last 24 hours that you should not miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Sunny ☀️
24h crypto recap! ⏱
🌪️ Transfer of $2 billion in Bitcoin seized by the USA: A shockwave in the market!
The United States moved approximately $2 billion in Bitcoin seized after the Silk Road case, generating an immediate drop of over 2% in the market. These BTC, initially valued at $3.36 billion, were confiscated from James Zhong, guilty of fraud after exploiting a vulnerability in the Silk Road system.
This transfer, while routine for authorities, raised doubts among investors, some fearing an imminent liquidation.
💰 Ethereum reaches $2.2 billion influx: A record year!
Ethereum investment products reached a historic high of $2.2 billion in net inflows in 2024, driven by enthusiasm around spot ETFs in the United States. This performance surpasses the previous record set in 2021 and marks a turning point in investor sentiment towards Ethereum, which has outperformed Bitcoin in terms of inflows.
With a monthly gain of 47%, ETH is approaching its previous highs. The approval of ETFs and the prospect of more favorable regulation have been major catalysts.
🚀 XRP jumps to 3rd place worldwide: A historic ascent!
XRP has crossed a major milestone by becoming the third largest cryptocurrency by market capitalization, reaching $140 billion after a 30% increase in 24 hours and 379% in a month. This impressive surge allows it to surpass Solana and Tether, reflecting massive investor enthusiasm, with trading volumes exploding by 97%.
Optimism surrounding the upcoming approval of the RLUSD stablecoin and the departure of Gary Gensler from the SEC played a key role in this rise. Despite its progress, XRP remains far behind Ethereum ($442 billion), but the evolution of its ecosystem could change the game.
🤝 Charles Hoskinson calls for an end to hostilities in the crypto industry!
Charles Hoskinson, founder of Cardano, calls for a truce in rivalries within the crypto ecosystem to promote inter-chain collaboration and fully harness the potential of blockchain. Known for his frankness and past conflicts with Ethereum, Bitcoin, and Ripple, he now wishes to turn the page on disputes that he deems harmful to the sector's advancements.
His ambitious vision for 2025 rests on unity among ecosystems, which he believes is essential for incorporating blockchain into daily life and achieving trillions of dollars in capitalization. Hoskinson maintains unshakeable faith in Cardano, which he describes as "a great technical achievement."
Crypto of the day: Ondo Finance (ONDO)
Ondo Finance stands out in the DeFi ecosystem by allowing the creation of fixed yield loans insulated from risks, backed by income-generating assets. This unique solution, without intermediaries, fosters permissionless peer-to-pool interaction, providing users with innovative risk management while maximizing yield opportunities.
The ONDO token, native to the platform, is primarily used to access Ondo Finance's DeFi services, such as participation in loans and liquidity pools.
Distributed through centralized exchanges like Bithumb and Bybit, it offers its holders opportunities for passive income through staking and potential influence over the future governance of the platform. ONDO also enables transparent and secure interactions within the DeFi ecosystem.
Recent performances
Current price: €1.65
Variation (24h): +36.94%
Market capitalization: €2,374,568,023
CoinMarketCap rank: 67
Technical analysis: Bitcoin (BTC)
After reaching a new ATH at $99,661, Bitcoin experienced a correction of over 8%, settling around $90,800, a level that has become a key support. This zone, reinforced by a bullish engulfing on the daily chart, suggests potential upside reversal.
Currently in a consolidation phase between $98,700 and $94,800, BTC shows signs of exhaustion after a recent strong bullish volatility. However, the medium and long-term trend remains favorable, supported by upward-crossed moving averages. Buyer interest at liquidation zones around $91,000 indicates investor support, although the market remains balanced with a notable lack of new capital entering.
If BTC can break the resistance of $98,400, a return towards the ATH at $99,600 is conceivable, with a potential target at $100,000 or even $108,477. Conversely, an inability to maintain above $90,800 could lead to successive support levels at $87,000, $85,000, and $81,500, with respective declines potentially reaching up to 15%. These zones, particularly those below $85,000, remain crucial points to monitor for investors, while levels close to $100,000 could increase volatility.
The current consolidation, although uncertain in the short term, fits within an overall positive structure, favoring stabilization before new impulses.
🔗 Read the full analysis here.
