🚀 FET, OCEAN, AGIX on the rise, 💥 Bitcoin crushes stablecoins according to Bybit!
Welcome to the Daily Tribune Wednesday, June 26, 2024 ☕️
Hello Cointribe! 🚀
Today is Wednesday, June 26, 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 cloudly ☁️
24h crypto recap! ⏱
AI tokens defy the crypto market and refuse to collapse! 🚀
In a context of crypto market correction, several tokens related to artificial intelligence (AI) have demonstrated impressive performance, resisting the general selling trend. Fetch.ai (FET) saw a 20% increase in 24 hours with a current price of $1.69. Ocean Protocol (OCEAN) also followed a positive trend with a 15% increase to $0.68. SingularityNET (AGIX) increased by approximately 15.5% to $0.68. Arkham (ARKM), the native token of the Arkham crypto platform, also experienced a 16% increase in 24 hours, trading around $2. This rise of AI tokens follows the announcement of the Artificial Superintelligence Alliance, including SingularityNET, Fetch.ai, and Ocean Protocol, which will initiate the merger of ASI tokens on July 1st. 🔗Read the full article here.
Bitcoin crushes stablecoins: Bybit's shocking report ⚡
Bybit's recent report shows a striking trend in crypto investor allocation strategies. Between December 2023 and May 2024, users of the Bybit platform reduced their exposure to stablecoins from 50.2% to 42.8%, in favor of major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Bitcoin, in particular, now represents 26% of the total assets held by users. Institutions favor BTC and ETH, holding 38.9% and 20.3% of their portfolios respectively in May. This move towards more established cryptocurrencies reflects growing confidence in the crypto ecosystem and recognition of the long-term potential of these assets, despite their short-term volatility. Investors increasingly see Bitcoin and Ethereum as safe havens and growth drivers in their investment strategies. 🔗Read the full article here.
Digital Euro: ECB report on CBDCs and data protection 💶
The European Central Bank (ECB) has released an essential report on the development of the Digital Euro, with a particular focus on data protection. The ECB proposes pseudonymization mechanisms, robust encryption techniques, and promises that payment service providers will not be able to use consumer financial data without their explicit consent, in accordance with the GDPR. Offline transactions will also be secured by devices allowing direct payments without intermediaries, synchronized with the CBDC blockchain. The report sets clear objectives for the technical and regulatory development of the Digital Euro, with a framework to be finalized by the end of 2024. Despite these measures, concerns persist regarding privacy issues and potential government control over personal finances, as highlighted in a Trezor report indicating that 73% of respondents are concerned about excessive government control through CBDCs. 🔗Read the full article here.
Shiba Inu unleashes transactions despite a turbulent crypto market 🐕
In a context of high volatility in the crypto market, Shiba Inu (SHIB) stands out with a dramatic increase in its transaction volume. While the memecoin sector rebounds after a significant correction, SHIB has recorded a 140% increase in transaction volume in 24 hours, despite an initial 6.4% dip. Currently, SHIB shows a 3% gain compared to the previous day. This rise in transaction volume reflects renewed investor interest in this memecoin. However, SHIB's burning rate remains negative, with a reported 0.49% decrease by Shibburn, suggesting that the supply reduction mechanism is struggling to keep up. 🔗Read the full article here.
Crypto of the Day: Notcoin (NOT)
Notcoin (NOT) is based on an innovative blockchain designed to offer fast and secure transactions with very low transaction fees. Its architecture allows for high scalability, making it suitable for decentralized applications (dApps) and smart contracts. The added value of Notcoin lies in its ability to handle a large volume of transactions while maintaining energy efficiency superior to traditional blockchains.
The native cryptocurrency Notcoin (NOT) is mainly used for transactions within its ecosystem, payments for dApps services, and transaction fees on the blockchain. It was initially distributed through an airdrop and a private sale, ensuring fair distribution among early adopters. Advantages for holders include staking rewards, fee discounts, and participation in network governance. Notcoin can be used for payments, value transfers, and access to various decentralized services.
Recent Performance
Current Price: €0.01627
Percentage Increase/Decrease: +14.94% (1-day increase)
Market Cap: €1,674,473,321
Rank on CoinMarketCap: 52
Bitcoin drops below the $60,000 threshold
Following significant selling pressure, Bitcoin plunged below the $60,000 threshold, reaching a low of $58,500 before bouncing back slightly. This bearish move follows a rejection at $72,000, leading to a gradual decline to $64,000, and then a rapid drop to $60,000. Currently, Bitcoin is trading around $61,400, forming a double top, a bullish reversal pattern. However, BTC is below its 50-day moving average, questioning its medium to long-term structure, although it remains above its 200-day moving average.
Analysis of Bitcoin derivatives shows an exit of positions by speculators, with over $69 million in forced liquidations by buyers. This decrease in open interest and negative funding rates reinforces bearish beliefs. Key liquidation areas for the past three months are at $65,000 and $67,500 above the current price, with potential support around $56,850. Future assumptions depend on Bitcoin's ability to stay above $58,500, with resistances at $63,000 and $65,000, or in case of further decline, supports at $54,500 and $52,000. This uncertain period requires careful observation of reactions at key levels to evaluate the next moves.
