🔔 Finally …Gary Gensler announces his departure !
Welcome to the Daily tribune of Thursday, November 21, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, November 21, 2024, 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! ⏱
🚀 Solana eclipses Ethereum on DEX
Solana continues to attract crypto users, surpassing Ethereum with a weekly DEX (decentralized exchanges) volume that reaches 266% of Ethereum's. This network now processes more than double the DEX transactions of its direct competitor, capturing 36% of the total market share in a week and up to 46% in a day. This rise is fueled by its speed, efficiency, and reduced transaction costs, making it a must-have alternative for traders and developers.
Solana also consolidates its position thanks to the growing adoption of its established infrastructures and strategic partnerships that strengthen its ecosystem. With impressive performance, it asserts itself as a pillar of DeFi, marking a turning point in blockchain competition. 🔗 Read the full article here.
📢 Trump appoints another pro-bitcoin to a key position
Donald Trump strikes hard by appointing Howard Lutnick, a fervent advocate for Bitcoin and CEO of Cantor Fitzgerald, as Secretary of Commerce. Lutnick, whose company is a key player in managing Tether reserves and in recent investments of 2 billion dollars in Bitcoin, embodies a bridge between traditional finance and crypto innovation. His appointment marks the Trump administration's intent to accelerate the adoption of blockchain technologies while reassuring institutional investors.
In addition to cryptocurrencies, Lutnick will also need to drive ambitious tariff reforms, with drastic taxes targeting Chinese products, aligned with Trump’s protectionist vision. This strategic choice could energize the crypto ecosystem in the United States and propel the country at the forefront of blockchain innovation against global competition, notably from China. 🔗 Read the full article here.
💰 Bitcoin poised to siphon a pot of 4000 billion
The Bitcoin strategy initiated by MicroStrategy inspires more and more companies, and Microsoft may be the next giant to adopt this approach. Since 2020, MicroStrategy has accumulated over 331,200 BTC, turning its stock into a Bitcoin derivative and earning 430% growth, even surpassing NVIDIA. Companies like Tesla and Block have followed suit, and Microsoft, with its 78 billion dollars in cash, could join the dance after a general assembly in December.
Institutional adoption is accelerating, with BlackRock offering Bitcoin ETFs, while some governments, like El Salvador, discreetly accumulate strategic reserves. If this trend continues, the 4 trillion dollars in cash held by American companies could largely converge towards Bitcoin, accelerating global adoption and placing cryptocurrency as an essential strategic asset. 🔗 Read the full article here.
🏢 Bitcoin: Michael Saylor challenges Microsoft
Michael Saylor, founder of MicroStrategy, proposes a bold vision to the board of directors of Microsoft: integrate Bitcoin as a strategic asset. With the successful experience of MicroStrategy, whose stock has outperformed Microsoft by 300% in 2024, Saylor emphasizes the benefits of this strategy to stabilize liquidity and reduce long-term risks.
Despite the skepticism of the board, backed by recommendations against this initiative, the vote will take place on December 10. If Microsoft accepts it, this could disrupt the landscape of crypto-assets by encouraging other tech giants to adopt Bitcoin as a strategic reserve. This debate symbolizes the rise of Bitcoin in large companies and the challenge it poses to traditional financial models. 🔗 Read the full article here.
🔔 Gary Gensler: End Clap at the SEC
Gary Gensler, controversial president of the SEC, will leave his position on January 20, 2025, marking the end of an era of strict crypto regulations. Under his leadership, the SEC strengthened financial markets with major reforms, particularly concerning Treasury bonds and the national stock market system, but his strict approach to cryptocurrencies often stifled innovation in the sector.
This announcement comes as Donald Trump, the elected president, plans to appoint a successor more favorable to cryptos and Wall Street. The market anticipates more flexible regulation and an environment conducive to innovation with this new direction. This transition could redefine the future of cryptos in the United States. 🔗 Read the full article here.
The crypto of the day: Optimism (OP)
Optimism, a Layer 2 solution for Ethereum, aims to reduce costs and increase transaction speed on the network while maintaining Ethereum's security and decentralization. Its innovation relies on the use of "optimistic rollups," which group multiple transactions into one to minimize fees.
The native crypto, OP, is used to govern the network through community votes and to incentivize projects and users in the ecosystem. Initially distributed through airdrops and incentive programs, OP offers benefits such as fee reductions for active users and direct participation in the evolution of the protocol. It can also be traded on major trading platforms.
Recent performances
Current price: 1.96 €
24-hour change: +24.88 %
Market capitalization: 2.37 billion €
Rank on CoinMarketCap: 52
Technical analysis of the day: Shiba Inu (SHIB)
The Shiba Inu (SHIB) shows signs of recovery after a correction phase marked by a pullback of its price towards the key support of 0.0000108 $. This area triggered renewed buying interest, propelling the price beyond 0.000020 $ before facing resistance at 0.000028 $.
Currently, SHIB is consolidating around 0.000024 $, in line with its annual VWAP and after a 50% retracement of its last rise. This bullish trend is confirmed by moving averages on 50 and 200 days oriented upwards, supporting positive momentum in the medium and long term despite a slight correction.
On the derivatives side, the open interest on SHIB/USDT contracts reflects a majority of buy orders, corroborated by a positive funding rate. However, divergences in the cumulative order volume (CVD) signal a persistent presence of selling interest.
The key areas to watch include the levels of 0.0000265 $ for a bullish push or 0.000022 $ in case of a pullback. If these thresholds are crossed, SHIB could aim for 0.000028 $ or even 0.000030 $ upwards, or fall to 0.000018 $ in case of a bearish movement. Increased volatility is expected, making these levels crucial for investors.
🔗 Read the full analysis here.
