Musk denies advising Trump, Ripple awaits XRP ETF 📊
Musk denies advising Trump, Ripple awaits XRP ETF 📊
Welcome to the Daily Tribune Saturday, June 1, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, June 1, 2024, and like every day from Tuesday to Saturday, we summarize the news from 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! ⏱
Imminent approval for XRP ETF according to Ripple CEO 📈
Brad Garlinghouse, CEO of Ripple, anticipates imminent approval for XRP ETFs, emphasizing that it is only a matter of time before such products are allowed. At the Consensus 2024 conference, he expressed optimism despite persistent regulatory obstacles, echoing Standard Chartered's prediction of an XRP ETF launch by 2025. Currently, XRP is trading below its critical resistance zone, but favorable regulatory clarification could propel its institutional adoption. Read full article
Bitcoin ETFs surpass $13 billion in inflows! 🚀
2024 marks a turning point for bitcoin, which continues to attract institutional investors on a massive scale. Bitcoin ETFs recorded net inflows of $48.706 million on May 30, reaching a historic total of $13.809 billion. BlackRock's iShares Bitcoin Trust is now the world's largest Bitcoin fund with nearly $20 billion in assets under management, surpassing the Grayscale Bitcoin Trust. In parallel, Ethereum ETFs have also received the green light for 19 applications, signaling a growing adoption of alternative cryptocurrencies. Read full article
Crypto-celebrities: spectacular launches, steep falls 🌟💥
In recent days, celebrities like Caitlyn Jenner, Rich The Kid, Iggy Azalea, Davido, and Trippie Redd have launched their own crypto tokens, all of which have experienced rapid value increases followed by sharp drops. For example, Iggy Azalea's MOTHER token lost 41% of its value in 24 hours, and Caitlyn Jenner's token on Solana dropped by 67%. These resounding failures have caused significant losses for many traders, with some losing hundreds of thousands of dollars. Suspicion of questionable activities surrounds these tokens, with accusations of insider selling before public announcements. Read full article
Elon Musk - Donald Trump's unexpected crypto advisor? 🤔💼
Rumors of an unexpected alliance between Elon Musk and Donald Trump for the 2024 presidential campaign have recently sparked debates, suggesting that Musk could become Trump's crypto advisor. Although Trump has changed his tone on cryptocurrencies, moving from harsh criticism to a more open strategy, Musk has firmly denied these speculations via Twitter, claiming to have never discussed crypto with Trump. Despite this denial, Bloomberg's information suggests that this role is still being considered. Read full article
Crypto of the day: JasmyCoin (JASMY)
JasmyCoin (JASMY) is a cryptocurrency native to the Jasmy blockchain platform, which stands out for its focus on the Internet of Things (IoT). It allows users to control and monetize their personal data, offering increased privacy protection. Distributed mainly through crypto exchanges and initial sales, JasmyCoin is used for transactions within the Jasmy ecosystem, rewarding users for sharing their data. JASMY holders benefit from economic incentives, reduced transaction fees, and privileged access to platform services, making this cryptocurrency practical for various uses in the IoT ecosystem.
Recent performance of JasmyCoin
Current price: 0.0334 €
Percentage increase/decrease: +14.75% (1-day increase)
Market capitalization: €1,770,531,405
Rank on CoinMarketCap: 59
Bitcoin's sharp drop: Main reasons 🚨📉
Bitcoin experienced a sudden drop of 2.95% in just 24 hours, falling to $67,230. This unexpected decline follows a period of stability influenced by the Personal Consumption Expenditures (PCE) index of the US Federal Reserve. However, the announcement of the hacking of the Japanese crypto platform DMM Bitcoin, where over $305 million was stolen, triggered panic among investors. Hackings of such magnitude bring back memories of past incidents like Mt.Gox and Coincheck, reviving fears and prompting massive sell-offs.
Simultaneously, the expiration of over $8 billion worth of options on Bitcoin and Ethereum has heightened market volatility. With 69,000 Bitcoin contracts and 920,000 Ethereum contracts coming to an end, investors had to adjust their positions, creating significant selling pressure. These two combined factors have greatly contributed to the rapid drop in the price of Bitcoin.
