🌟 Silver surpasses Bitcoin, Solana asserts its superiority!
Welcome to the Daily Tribune on Tuesday, May 21, 2024 ☕️
Hello Cointribe! 🚀
Today is Tuesday, May 21, 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! ⏱
Solana: The fastest Blockchain in the world 🚀
Solana stands out for its impressive processing speed with a record 91 million transactions in a day, equivalent to 1500 transactions per second (TPS). In comparison, Ethereum is 46 times slower and Polygon more than 5 times. Sui, another fast blockchain, reaches 854 TPS, followed by TON and Near Protocol with 175 and 118 TPS respectively. Non-EVM blockchains significantly outperform EVM-compatible ones like BNB Smart Chain and Polygon. The real performance of blockchains shows a clear improvement over the past 12 months and illustrates the rapid evolution of technology. 🔗 Read the full article here.
Crucial decision for Ethereum ETF this week 🔍
This week, the United States Securities and Exchange Commission (SEC) must make a crucial decision on the approval of an Ethereum Exchange-Traded Fund (ETF). Nate Geraci, president of the ETF Store, highlighted the importance of this decision, which could transform investors' access to Ethereum. The SEC must evaluate two essential elements: the 19b-4 filings from exchanges like NYSE or Nasdaq to add Ethereum ETFs, and the S-1 registration statements to detail the fund's structure and management. Approval could attract new investors and increase market liquidity, while rejection or delay could dampen investor enthusiasm. 🔗 Read the full article here.
Bitcoin dethroned: Silver makes a spectacular comeback 🌟
Silver has reclaimed its place among the most valuable assets, surpassing Bitcoin with a market value of $1.83 trillion, representing a 33.4% increase. In contrast, Bitcoin has dropped by 9.5%, reducing its market value to $1.31 trillion. This performance propels silver to the eighth position among the most valuable assets, just ahead of Bitcoin. Despite this dynamic, Bitcoin maintains its position in ninth place, still competing with giants like gold and major technology companies. Forecasts for Bitcoin vary, with some analysts anticipating consolidation before a potential significant rise. 🔗 Read the full article here.
Bitcoin ready for a new high? Michael Saylor maintains confidence 🏔️
Michael Saylor, president of MicroStrategy, continues to ardently defend Bitcoin despite recent price fluctuations. After a period of stagnation, Bitcoin has surpassed $70,000, reviving investors' optimism. Saylor, convinced of the resilience and long-term potential of the cryptocurrency, has reiterated his call to invest in Bitcoin. Under his leadership, MicroStrategy has accumulated a massive amount of Bitcoins and strengthened its position as a major institutional holder. Saylor maintains that Bitcoin is a hedge against inflation and a long-term store of value. 🔗 Read the full article here.
Crypto of the day: Lido DAO (LDO)
Lido DAO revolutionizes the blockchain ecosystem by offering a decentralized solution for cryptocurrency staking. With Lido, users can stake tokens without locking their assets, allowing for increased liquidity and continuous access to their funds.
The native crypto LDO plays a crucial role as a governance token, enabling holders to participate in important network decisions. Initially distributed through a private sale and public distribution, LDO offers significant benefits such as voting rights on governance proposals and proportional staking rewards. Holders can use LDO to influence development strategies and protocol changes, thus consolidating their engagement and decision-making power within the Lido community.
Recent performance
Current price: €2.29
Variation: +29.48% (1-day increase)
Market capitalization: €2,042,995,461
Rank on CoinMarketCap: 55
Bitcoin crosses $70,000 again!
Bitcoin has recently crossed the $70,000 mark, marking a significant 6% increase in 24 hours and over 10% in the previous week. This surge is mainly attributed to a massive influx of capital into Bitcoin Exchange-Traded Funds (ETFs), reflecting a renewed optimism among investors. Speculation about the imminent approval of Ethereum ETFs has also contributed to this positive momentum. Bitcoin's daily transaction volume has increased, suggesting a potential bullish recovery. Experts believe that if Bitcoin surpasses the key resistance of $73,777, it could reach new highs.
The rise of Bitcoin has major implications for the cryptocurrency market, reflecting a resurgence of investor confidence in digital assets. The growing interest of traditional financial institutions in Bitcoin as a diversification and inflation hedge asset is evident. The potential approval of Ethereum ETFs could attract a similar volume of capital, strengthening the position of cryptocurrencies in institutional investment portfolios. Analysts estimate a 75% chance of this approval, highlighting the increasing appeal of digital assets and promising future prospects.