🚀 Ferrari accepts Bitcoin payments in Europe
Welcome to the Daily Tribune Thursday, July 25, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, July 25, 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:
Partly sunny 🌤️
24h crypto recap! ⏱
Explosive launch of Ethereum spot ETFs 🚀📈
Ethereum spot ETFs made a spectacular entry into the financial market on July 23, reaching a record trading volume on their first day. In 15 minutes, they recorded $112 million in transactions, amounting to $361 million in 90 minutes. Nine ETFs issued by eight companies all showed significant activity, with Grayscale ETHE leading at $458 million, followed by BlackRock ETHA and Fidelity FETH. At noon, the cumulative volume approached $600 million, eventually surpassing $1 billion at closing. This exceptional performance reflects strong market acceptance and growing investor confidence in these new investment vehicles. 🔗 Read the full article here.
Ferrari accepts Bitcoin payments in Europe 🚗💸
Ferrari takes a new step by accepting cryptocurrency payments for its luxury cars in Europe, following the success in the United States. The company has partnered with BitPay, the largest cryptocurrency payment processor, to allow its customers to settle their purchases in Bitcoin, Ether, and USDC. This initiative aims to meet the expectations of a modern and technophile clientele while complying with local regulations. The benefits of this adoption include simplifying international transactions and attracting a young and dynamic customer base. However, Ferrari will have to manage the volatility of cryptocurrencies and train its dealerships and customers to ensure a smooth transition. 🔗 Read the full article here.
Kamala Harris open to AI and Bitcoin 🇺🇸 🤖💰
Kamala Harris, Vice President of the United States and Democratic candidate for presidency, is seen as a potential ally of cryptocurrencies and artificial intelligence. Renowned investor Mark Cuban claims that Harris would be more open to these technologies than current President Joe Biden and that she could foster an environment conducive to the development of Bitcoin and AI. In the context of the presidential competition with Donald Trump, who also supports cryptocurrencies, Harris shows a balanced approach to AI, combining technological innovation and national security. Her potential participation in the Bitcoin 2024 conference could strengthen her candidacy and attract key support from the technology sector. 🔗 Read the full article here.
Uniswap reinvents its flow with a major upgrade 🚀🔄
Uniswap, leader in decentralized finance (DeFi), has announced a major upgrade to UniswapX aimed at improving transaction speed and execution. This overhaul comes as the UNI token experiences a downturn, with a 15.5% decrease this month, trading around $7.67. The update promises to bring more value (MEV) to users, despite regulatory challenges and increased competition in the sector. Recent moves by institutional investors and the planned launch of Uniswap v4 in the third quarter of 2024 could indicate a potential rebound for UNI. 🔗 Read the full article here.
Crypto of the day: Avalanche (AVAX)
Avalanche stands out for its innovative consensus technology known as Snowball, which enables near-instantaneous transaction finality and high scalability. This blockchain aims to provide a decentralized platform for launching decentralized applications (dApps) and customized blockchain networks. Avalanche offers a robust and secure infrastructure with extremely low transaction latency, making it an attractive solution for various use cases, ranging from decentralized finance (DeFi) to digital exchanges.
The native crypto of Avalanche, AVAX, is used to pay transaction fees, participate in the consensus mechanism through staking, and serve as a unit of account within the Avalanche ecosystem. The initial distribution of AVAX was conducted through a public sale and distribution to founders and contributors. AVAX holders benefit from staking rewards, decentralized governance, and low inflation thanks to limited monetary policy. AVAX can be used to create and trade digital assets and interact with dApps hosted on the Avalanche blockchain.
Recent performance:
Current price: €25.28
Percentage increase/decrease: -9.33% (in 1 day)
Market capitalization: €9,992,306,636
Rank on CoinMarketCap: #16
Launch of Ethereum Spot ETFs: Crypto Records a Positive Day - Analysis of July 24, 2024
Following the launch of Ethereum spot ETFs, ETH recorded a 1.28% increase, bouncing more than 25% in two weeks, from $2,800 to $3,500. The price stabilized in the range of $3,560 to $3,350 before experiencing a drop overnight, bringing it back to $3,175. However, ETH remains above its 50-day and 200-day moving averages, suggesting a long-term bullish trend.
Open interest in ETH perpetual contracts followed the underlying trajectory with increased activity, signaling persistent optimism among speculators. Notable liquidation zones are between $3,650 and $3,750, and above $3,900. If the price remains above $3,000, a bullish continuation towards $3,600 to $3,700, or even $4,000, is possible. Conversely, a drop below $3,000 could bring the price back to $2,900 - $2,800.
🔗 Read the full analysis here.
