Europe invests massively in cryptos, FIFA embraces NFTs! 🌟
Welcome to the DailyTribune of Wednesday, December 13, 2023 ☕️
Hello Cointribe! 🚀
Today is Wednesday, December 13, 2023, and like every day from Tuesday to Saturday, we summarize the news of the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Cloudy ☁️
24-hour crypto summary ! ⏱️
🌐 Polygon Portal: A new chapter for MATIC
Polygon has recently launched Polygon Portal, a major initiative that promises to transform its ecosystem and strengthen the position of its native crypto, MATIC. This new portal represents a significant change from previous wallet interfaces and offers a more integrated and unified user experience. It facilitates access to a variety of blockchain solutions, ranging from Polygon Proof of Stake (PoS) to Ethereum, thus improving accessibility and interoperability within the crypto ecosystem.
The launch of Polygon Portal could have a significant impact on the value of MATIC, making it more attractive to investors and users. This initiative addresses the current needs for flexibility and scalability in the crypto market and undoubtedly seeks to position Polygon as a key player in the adoption of cryptocurrencies on a larger scale. However, it is important to remain cautious as the crypto space remains unpredictable and highly competitive.
The launch of Polygon Portal could strengthen MATIC's position in the market. Moreover, it reflects a trend towards more integrated and accessible platforms, which are essential for widespread adoption of cryptocurrencies.
💶 Europe takes the lead in crypto investments
Europe is currently standing out as a leader in crypto investments, with a remarkable injection of $43 million into crypto funds last week, according to a report by Bloomberg. This trend sharply contrasts with the skepticism observed in the United States and Asia. Bitcoin and Ethereum remain the main cryptocurrencies attracting investors, with Bitcoin recording $20 million in net inflows last week, followed by Ethereum with $10 million.
Geographically, Europe clearly dominates the crypto investment market, while the United States and Asia show more mixed performances. In the United States, half of the $14 million invested last week was oriented toward short positions, reflecting a certain caution or skepticism among American investors. In Asia, particularly in Hong Kong and Brazil, there are even net capital outflows.
The increase in cryptocurrency investments in Europe could reflect a response to divergent monetary policies and regional economic instability. In a context where the European Central Bank and other central banks adopt different approaches to inflation and financial stability, investors may turn to cryptos as a hedge against monetary uncertainty and currency devaluation.
🏛️ Elizabeth Warren and the SEC: Towards stricter crypto regulation in the USA
American Senator Elizabeth Warren has presented a bill aimed at imposing strict regulations on the cryptocurrency industry, in order to combat money laundering. This preliminary bill could radically transform the regulatory landscape for crypto actors in the United States. It proposes to subject crypto service providers to the same compliance obligations as traditional banks, including systematic customer identification and detailed transaction records. Miners, validators, and non-custodial wallet providers would be treated as regulated financial institutions, a measure justified by Warren to counter the illicit use of cryptos.
This bill has sparked mixed reactions in the crypto industry. Experts like Grant Fondo, co-chair of the Digital Currency and Blockchain Department at Goodwin, fear that such measures could impede innovation in the decentralized finance (DeFi) sector and be unrealistic for decentralized protocols. Furthermore, accusations have been made against Warren for allegedly coordinating her actions with SEC Chairman Gary Gensler against the crypto industry. Although the bill enjoys some bipartisan support, its final adoption remains uncertain in a divided Congress and ahead of crucial midterm elections.
Elizabeth Warren's bill is symptomatic of the growing tension between lawmakers seeking to impose traditional regulatory frameworks and a blockchain industry that values innovation and freedom. If adopted, this legislation could push decentralized fintech businesses to leave the United States for more favorable jurisdictions.
⚽ FIFA and NFT for an unprecedented 2026 World Cup
FIFA, the international football organization, is entering the world of Non-Fungible Tokens (NFTs) in preparation for the 2026 World Cup. This week, they plan to launch a limited collection of NFTs on the Polygon blockchain. This unique collection will give the first 100 users a chance to win tickets to the final of the 2026 FIFA World Cup. In addition to these 100 exclusive NFTs, 900 more will be available on OpenSea, a popular crypto platform.
FIFA aims to enhance fan community engagement through these NFTs. The choice of Polygon for this initiative reflects the growing popularity of this blockchain in Web 3.0 gaming projects and aligns with FIFA's strategy for future digital collectible launches. Although the NFT market is currently experiencing a downturn, FIFA and other major brands continue to explore the potential of these digital assets to satisfy and monetize their fan base.
The adoption of NFTs by FIFA for the 2026 World Cup is a striking example of how blockchain technologies can be used to reinvent fan engagement in sports. It demonstrates how NFTs can go beyond the art market and become marketing and engagement tools for major brands.
Crypto of the Day: Kaspa (KAS)
Kaspa (KAS) is a cryptocurrency launched in 2021, which stands out for its use of Directed Acyclic Graph (DAG) technology instead of a traditional blockchain. This innovation offers increased transaction speed and better scalability, thus addressing the congestion and latency challenges faced by many other cryptocurrencies.
KAS is mineable, which means that users can generate KAS through the mining process. As the native crypto of Kaspa, KAS plays a crucial role in securing the network and in transactions. KAS holders benefit from participation in a rapidly growing network and potentially from the appreciation of the currency's value as the network develops and gains adoption.
Recent performance
Current Price: 0.11 EUR
Price Change in 24 hours: -3.08%
Market Cap: approximately 2.4 billion EUR
Rank on CoinMarketCap: 27th
Crypto analysis of the day: BNB (BNB)
So, BNB has recently faced turbulence, particularly with the legal issues of its issuer. But guess what? It has managed to stay above $230, despite a drop of over 11% in one day. That's what we call resilience! And now, with a new Binance launchpool, BNB is trading around $248. What's interesting is what's called a \"golden cross\" - a technical signal suggesting potential bullish reversal. In short, BNB is showing signs that it could rebound.
Now let's talk about BNB/USD derivatives. Open interest remains stable, indicating that traders are still undecided about the future of BNB. But beware, there have been significant liquidations of long positions recently, without reducing open interest. This suggests that many traders are betting on the decline of BNB. And the liquidation heat map shows buying interest around $226. So, if BNB approaches $220, expect volatility!
Finally, let's discuss future scenarios. If BNB holds above $220, we could see a rise to $270, or even $300. But if it doesn't hold, we could fall back to $205-$210, or even $180. Keep in mind that these forecasts are based on technical analysis, and the crypto market can be influenced by other factors. So, stay vigilant and be prepared to adjust your strategies!