🚨 JP Morgan less optimistic about the Halving
🚨 JP Morgan less optimistic about the Halving
Welcome to the Daily Tribune Friday, April 19, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, April 19, 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:
Sunny ☀️
24-hour crypto summary ! ⏱️
🌏 Binance Reinvests in India
In a strategic move to reclaim the Indian market, Binance has spent $2 million to collaborate with a local technology start-up, allowing the platform to resume its operations in a complex regulatory environment. This partnership is crucial as India imposes taxes and stricter rules on cryptocurrency exchanges, which had previously forced Binance to withdraw. Binance's return aims to strengthen its presence in Asia while navigating the Indian regulatory framework. To learn more about the details of this partnership and Binance's future plans, click here.
💸 Bitcoin at $1 million? What if Cathie Wood was right?
In an echo of Cathie Wood's bold predictions, Yat Siu, co-founder of Animoca Brands, reinforces optimism around Bitcoin with his own forecast that the cryptocurrency could surpass $1 million. These joint predictions are based on a shared belief in the massive adoption of Bitcoin as a tool against inflation and a diversifying asset for financial institutions. These influential figures in investment and technology see Bitcoin as a transformative potential for the global financial system. To understand in-depth how these perspectives align and what they mean for the future of Bitcoin, read the full article here.
📊 Bitcoin ETF holders facing high volatility
Bitcoin exchange-traded fund (ETF) holders are currently divided between confidence and concern over market volatility. This article explores the varied reactions of investors, with some perceiving recent price drops as buying opportunities, while others remain cautious, fearing further declines. This diversity of perspectives highlights the contrasting strategies adopted by investors in times of uncertainty. To understand how Bitcoin ETF holders navigate in this fluctuating climate, read the full article here.
📉 JP Morgan's pessimistic predictions on the next Bitcoin halving
JPMorgan projects a bleak vision for the upcoming Bitcoin halving in 2024, anticipating that the event will not result in the expected significant price increase. The bank highlights the impact of unfavorable macroeconomic conditions and continued pressure on miners as the main factors that could mitigate the usually positive effects of halving. This analysis offers important insights into potential economic challenges that could influence the Bitcoin market.
Crypto of the day: Cat in a dogs world (MEW)
MEW, also known as "cat in a dogs world" is a cryptocurrency that leverages the Solana blockchain to offer speed and efficiency to its users. Designed with a humorous twist, MEW aims to attract not only cryptocurrency enthusiasts but also a wider audience through its unique and engaging theme.
The main utility of MEW lies in its ability to function as a classic memecoin while offering practical use cases in digital commerce and payments. It has been widely distributed through airdrops and public sales, offering holders benefits such as discounts on products and services and voting rights in certain community governance decisions. MEW can be used for fast daily transactions, purchases of digital goods, or as a means of expression in the digital ecosystem.
Recent Performances
Current price: Approximately €0.0057
Percentage increase/decrease: 19.98% increase in 1 day
Market capitalization: Approximately €499,833,309
Rank on CoinMarketCap: #135
Who will mine the first block after the halving?
The Bitcoin halving scheduled for 2024 is a significant event that will halve miners' rewards, from 6.25 to 3.125 bitcoins per block. This reduction of rewards raises the tension around the first block to be mined after this adjustment, seen as an almost mythical trophy among miners. The competition to mine this block is intense, as the satoshis it will contain are perceived as having invaluable value, similar to first-edition works of art. This phenomenon is amplified by the introduction of the Ordinal protocol, which allows data to be inscribed on each satoshi, making each unit unique and potentially very valuable.
The implications of halving go beyond the simple reduction of rewards. Mining farms must adapt their strategies to maintain profitability with lower rewards, including intensifying operations and investing in more advanced technologies. The opportunity to mine the first block after the halving represents a technical victory but also an opportunity to own a piece of cryptocurrency history.
To learn more about miners' preparation and the anticipated cultural impact of the first post-halving block, click here to read the full article.
