🏠 How Bitcoin is reshaping the US real estate market!
🏠 How Bitcoin is reshaping the US real estate market!
Welcome to the Daily Tribune on Tuesday, May 14, 2024 ☕️
Hello Cointribe! 🚀
Today is Tuesday, May 14, 2024, 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:
Partly sunny 🌤️
24h crypto recap! ⏱
🐋 A Bitcoin whale emerges after 11 years of inactivity
After nearly eleven years of silence, two Bitcoin wallets, each containing 500 BTC, suddenly transferred a total of 1,000 BTC, equivalent to over 60 million dollars. This move was first reported by LookOnChain and sparked a wave of speculation in the crypto community. The wallets were initially funded in September 2013, at a time when the value of Bitcoin was only $124 per BTC.
The recent activity of these wallets has revived theories about the owner of the funds, including speculation about possible involvement of the US government and conjecture about the return of Satoshi Nakamoto. This resurgence of "dormant whales" could potentially influence the market, as similar movements in the past have led to downward trends. The holders have not liquidated their gains on public markets but have instead opted for transfers to anonymous wallets, adding a layer of mystery to their future intentions. 🔗 Read the full article here.
🌐 Adoption of Bitcoin ETFs by banking giants
The interest of large financial institutions in Bitcoin ETFs has gained new momentum, as evidenced by the substantial investments of JP Morgan and Wells Fargo in various Bitcoin-related products. JP Morgan has invested nearly $731,000 in several ETFs, with a notable allocation in BlackRock's IBIT, while Wells Fargo has placed approximately $142,000 in Grayscale's GBTC. This adoption trend is also observed among other major players in the banking sector, such as BNP Paribas and BNY Mellon, indicating a significant shift in the perception of Bitcoin by traditional institutions.
The increasing participation of these institutions in ETFs like BlackRock's IBIT, which has quickly accumulated $10 billion in assets under management, highlights a fundamental shift in the approach to cryptocurrencies. With over 240 companies investing in IBIT, this wave of adoption potentially marks the beginning of a new era for Bitcoin and cryptocurrencies in the traditional financial sector. 🔗 Read the full article here.
💥 Robert Kiyosaki's explosive revelations about Bitcoin
Robert Kiyosaki, famous investor and author, highlights the potential risks of a new gold-backed cryptocurrency being considered by BRICS countries for the supremacy of the US dollar, especially in international oil transactions. Kiyosaki suggests that this initiative could trigger a massive abandonment of the dollar, leading to possible hyperinflation in the United States.
In the face of this scenario, he advises investing in inflation-resistant assets such as gold, silver, and most importantly, Bitcoin. According to him, Bitcoin, with its deflationary nature and growing global adoption, is particularly well positioned to protect investments against monetary crises. This perspective is not new for Kiyosaki, who already predicted a spectacular rise in Bitcoin last year, seeing it surpass $300,000 by the end of 2024. 🔗 Read the full article here.
🏠 Crypto inflates the US real estate market
Contrary to the stereotypes of extravagant spending on luxury cars, a recent study conducted by US and British researchers reveals that substantial gains in the cryptocurrency field are mostly reinvested in the real estate market. Analysis of transaction data from millions of Americans from 2010 to 2023 shows that every dollar of cryptocurrency profit translates into an increase of about 9 cents in spending, which is significantly higher compared to stock investments.
The study highlights that the year 2017, a prime period for Bitcoin, saw a faster increase in real estate prices in counties with a high concentration of cryptocurrency holders. Furthermore, a direct correlation was observed between significant withdrawals of cryptocurrencies from exchange platforms and an increase in real estate acquisitions, indicating a trend among "crypto-millionaires" to favor real estate as stable investments. 🔗 Read the full article here.
Crypto of the day: Livepeer (LPT)
Livepeer (LPT) is a decentralized video service platform that revolutionizes live streaming by reducing costs through blockchain architecture. Livepeer's blockchain is designed to provide an efficient and cost-effective infrastructure for video transmission, which can be used by content creators of all sizes.
The native cryptocurrency, LPT, is at the core of this system, used to incentivize and reward nodes in the network for their contribution to transcoding and distributing video content. LPT holders can participate in securing and operating the network through staking, allowing them to earn transcoding fees in return. Additionally, LPT serves as a governance token, enabling holders to vote on protocol update proposals and network resource management.
Recent performance
Current price: $17.72 (approximately €16.63)
Percentage increase/decrease: +4.33% (increase in 1 day)
Market capitalization: $571,188,100 (approximately €536,317,100)
Rank on CoinMarketCap: #115
Crypto analysis: Pepe (PEPE)
The memecoin PEPE has recently reached a new all-time high, despite high volatility in the cryptocurrency market. After a spectacular increase of 1000% since its initial price of $0.000001, PEPE reached a peak of $0.00001079 before facing selling pressure that brought it back below $0.000005. However, strong buyer support allowed PEPE to resume its upward trend, surpassing its previous record to reach a new ATH of $0.000011. Currently, the price of PEPE is holding at $0.00001070, indicating a slight correction but maintaining a sustained upward trend supported by a significant support zone at $0.000007.
The performance of PEPE is an indicator of investors' resilience and persistent attraction to memecoins in the current crypto environment. Technical indicators, including the 50-day moving average and oscillators, signal a bullish momentum, supporting the robustness of the current market structure. With insignificant short position liquidations and open interest evolving parallel to price trends, confidence seems to remain strong among buyers. Managing upcoming support and resistance levels will be crucial in determining the future direction of PEPE, with potential for substantial gains but also a risk of increased volatility.
