Mastercard innovates with Crypto Credential, PayPal accelerates thanks to Solana! 💳🚀
Welcome to the Daily Tribune on Friday, May 31, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, May 31, 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! ⏱
BlackRock buys $10 million worth of Ethereum to launch its ETF 💼
BlackRock, one of the world's giants in asset management, has invested $10 million in purchasing Ethereum to launch an ETF dedicated to this cryptocurrency. This project comes after the success of its Bitcoin ETF, which reached nearly $20 billion in assets under management in just a few months. The filing with the SEC states that the Ethereum ETF, under the ticket symbol ETHA, will be managed with the Bank of New York Mellon as custodian and Coinbase for the custody of the underlying Ether. Bloomberg analyst Eric Balchunas predicts a possible launch by the end of June. Read the full article.
Bitcoin: hashrate reaches its highest historical level 📈
Bitcoin's hashrate, a crucial indicator of the computing power deployed by miners, reached a record level after the recent Halving, which had initially raised concerns of a decline. This surge demonstrates the resilience of the Bitcoin network and the renewed confidence of miners. Technological advancements in mining hardware and the recent increase in the price of Bitcoin have contributed to this growth. The 7-day average hashrate has reached new highs, proving the robustness of the Bitcoin ecosystem. Read the full article
Mastercard launches Crypto Credential: a revolution in transactions 💳
Mastercard has announced the launch of Crypto Credential, an innovative program aimed at simplifying and securing cryptocurrency transactions. This service allows users to perform transactions using aliases, thus eliminating the complexity of long blockchain addresses. Already active on platforms like Bit2Me, Lirium, and Mercado Bitcoin, Crypto Credential facilitates international transactions between Latin America and Europe. This initiative also aims to enhance security through strict verification standards, while supporting the Travel Rule for transparency in cross-border transactions. Read the full article
PayPal's PYUSD crypto: towards ultra-fast payments thanks to Solana 🚀
PayPal, continuing its ambition to be a leader in the crypto industry, has announced the integration of its stablecoin PYUSD with the Solana blockchain, known for its fast and low-cost transactions. Initially launched on Ethereum, PYUSD will now benefit from the speed and efficiency of Solana to facilitate daily payments. PayPal and Venmo users will be able to transfer PYUSD between Ethereum and Solana, optimizing cross-border transactions. This strategic partnership aims to offer an improved digital payment experience and expand the use of PYUSD in the digital economy. Read the full article
Crypto of the day: QANplatform (QANX)
QANplatform (QANX) is an innovative blockchain that stands out for its resistance to quantum attacks, offering advanced security against evolving cyber threats. It enables the development of decentralized applications (dApps) and smart contracts in a faster and more secure way through its hybrid architecture combining Proof-of-Stake (PoS) and Proof-of-Work (PoW).
The native cryptocurrency, QANX, is mainly used to secure the network and pay transaction fees. It was distributed through an Initial Coin Offering (ICO), allowing early investors to acquire tokens. QANX holders benefit from staking rewards, which incentivizes participation and network security. Additionally, QANX can be used for governance voting, making the decision-making process more decentralized.
Recent performance:
Current Price: €0.03576
Percentage Increase/Decrease: -2.62% (1-day decrease)
Market Cap: €60,842,518
Rank on CoinMarketCap: #2888
Mt. Gox transfers $10 billion in Bitcoin: No impact on the price?
Recent Mt. Gox transactions, representing nearly $10 billion in bitcoins, have raised concerns among investors. However, according to analysts at CryptoQuant, these internal transfers are not expected to affect the price of Bitcoin. The transferred bitcoins remain under the management of the Mt. Gox Rehabilitation Trustee and have not been released to the market. Creditors have not yet received their refunds, which means there has been no massive sale that could destabilize prices.
Furthermore, experts predict that even if these bitcoins were put into circulation, the market could absorb this additional supply without any issues due to the constant demand for Bitcoin ETFs. Platforms like Crypto.com and Paxos are also preparing to integrate these movements into their ecosystem. In summary, despite the massive transfers, the price of Bitcoin is not expected to undergo major fluctuations in the short term.