💳 MetaMask reinvents crypto payments, institutional investors cling to Bitcoin ETFs!
💳 MetaMask reinvents crypto payments, institutional investors cling to Bitcoin ETFs!
Welcome to the Daily Tribune Friday, August 16, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, August 16, 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 ☀️
24h crypto recap! ⏱
💳 MetaMask and Mastercard join forces and launch a debit card
MetaMask is partnering with Mastercard and Baanx to launch the MetaMask Card, a revolutionary debit card that allows spending cryptocurrencies directly from a MetaMask wallet. This card aims to simplify crypto payments for everyday purchases, eliminating the cumbersome steps of converting to fiat currency. Currently available in a pilot phase in Europe and the UK, the card supports cryptos like USDC, USDT, and WETH via the Linea network, offering fast and secure transactions. This initiative marks an important step towards integrating cryptocurrencies into daily life, especially in underbanked regions. 🔗Read the full article here.
🛡️ Holograph hackers arrested and soon to be extradited to France
On June 13, 2024, the Holograph platform experienced a massive hack, resulting in the loss of 14.4 million HLG tokens. Through an international investigation coordinated by the Office for the Prevention of Cybercrime (OFAC) and other agencies, several suspects were arrested in Italy and await extradition to France. The hackers exploited a vulnerability in the Holograph operator contract, fraudulently creating one billion tokens, which drastically reduced their value. Authorities have seized assets and electronic evidence, while Holograph, which identified a disgruntled former contractor as the instigator, continues to strengthen its security measures. 🔗 Read the full article here.
📈 Institutional investors: Unwavering trust in Bitcoin ETFs in Q2
Despite a 14.5% drop in Bitcoin's value in the second quarter of 2024, institutional investors continued to strengthen their presence in the Bitcoin ETF market. Around 44% of asset managers increased their holdings, while 22% maintained their positions, highlighting resilience in the face of volatility. Hedge funds such as Millennium and Schonfeld are leading this offensive, using Bitcoin to balance their portfolios despite the risks. Adoption of Bitcoin ETFs even increased by 30% during this period, demonstrating sustained confidence in the long-term potential of the asset, even during a downturn. 🔗 Read the full article here.
🚫 Vanguard: Why the giant rejects crypto ETFs?
Vanguard, led by CEO Salim Ramji, remains firmly opposed to the idea of launching a Bitcoin ETF, despite BlackRock's resounding success in this field. Ramji considers cryptocurrencies too volatile and immature to integrate into the company's long-term investment strategy. True to its cautious and stable approach, Vanguard prefers to avoid speculative trends, even if it means missing out on potential short-term profits. For Vanguard, cryptos do not rely on solid economic fundamentals, which reinforces their decision not to engage in this market, thus maintaining their reputation for stability for the long-term benefit of their clients. 🔗 Read the full article here.
Crypto of the day: Fantom (FTM)
Fantom is a next-generation blockchain that uses Directed Acyclic Graph (DAG) technology to offer fast, secure, and highly scalable transactions, making it particularly suitable for decentralized applications (dApps). Fantom's main innovation lies in its unique consensus called Lachesis, which allows for near-instant finality of transactions, surpassing the performance of traditional blockchains like Ethereum. The added value of Fantom lies in its ability to process thousands of transactions per second at an extremely low cost, while maintaining a high level of security.
The native cryptocurrency of Fantom, FTM, is essential to the functioning of the ecosystem. It is used for transaction fees, staking, and on-chain governance. FTM was initially distributed through private and public sales, as well as staking rewards for network validators. FTM holders benefit from several advantages, including the ability to participate in network governance, earn rewards through staking, and access various DeFi protocols on Fantom. FTM can also be used for payments and transactions on the platform, further enhancing its utility within the Fantom ecosystem.
Recent Performances
Current price: €0.3657
Percentage increase/decrease: +7.29% (1-day increase)
Market capitalization: €1,025,236,688
Rank on CoinMarketCap: 58
Despite the decline in cryptos, Kaspa maintains its bullish trend: Analysis of August 15, 2024
Kaspa, despite a significant correction in the crypto market, continues to maintain a sustained bullish trend. After reaching an all-time high of $0.21, the crypto experienced a 40% drop, bringing its price to $0.125. However, buying interest emerged around this level, allowing Kaspa to rebound and consolidate above the key support of $0.145. This consolidation, coupled with upward trending moving averages, indicates a positive medium and long-term outlook, although signs of weakness in the short term could shift the trend if momentum does not improve.
The current phase of Kaspa is characterized by strategic consolidation, where price movements around support and resistance levels will be important in determining the continuation of the bullish trend or a potential reversal. The decrease in speculative interest in KAS/USDT perpetual contracts and the stabilization of liquidations indicate recent buyer capitulation but also an opportunity for a potential recovery.
🔗 Read the full analysis here.
