⚠️ Peter Brandt predicts the imminent fall of Tether and the US dollar!
Welcome to the Daily Tribune Friday, June 21, 2024 ☕️
Hello Cointribe! 🚀
Today is Friday, June 21, 2024, and like every day from Tuesday to Saturday, we summarize the news of the last 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Rainy 🌧️
24h crypto recap! ⏱
Ethereum: Long-term holders dictate the future of crypto 🚀
The number of long-term Ethereum holders reaches record levels, according to Glassnode data. The majority of these assets are held between 1 and 3 years, showing strong confidence in the future value of Ethereum. This trend is evident in a decrease in cryptocurrencies held for less than six months and a significant increase in those held for over seven years. This behavior stabilizes the market, reduces volatility, and attracts new investors, thus promoting the development of the Ethereum ecosystem. 🔗 Read the full article here.
BNB Chain reduces fees by 90% with the Haber hard fork 🔧
The BNB Chain network has activated the Haber hard fork, resulting in a dramatic 90% reduction in transaction fees. This update, based on the BNB Evolution Proposal (BEP)-336, introduces blob objects that optimize transaction storage and verification. With this advancement, Layer 2 costs on the BNB Smart Chain come down to approximately $0.0001. The Haber hard fork also improves the Layer 2 solution, opBNB, and decentralized storage through BNB Greenfield, promising new opportunities for DApps and users. 🔗 Read the full article here.
Peter Brandt predicts the fall of Tether and the dollar 💥
Renowned trader Peter Brandt sounds the alarm about the future of Tether (USDT) and the US dollar. Brandt highlights growing criticism of Tether, including a report from Consumers' Research and concerns from S&P and JPMorgan regarding its reserves' transparency and solvency. He predicts that Tether is heading for disaster due to its refusal to undergo an independent financial audit. In parallel, Brandt also anticipates a decline in the US dollar, weakened by the de-dollarization efforts of the BRICS and the rise of alternative currencies. 🔗 Read the full article here.
87% of Bitcoin holders are in profit despite the downturn 📈
A recent analysis by Glassnode reveals that 87% of circulating Bitcoins are profitable, despite the stagnation of BTC prices in recent weeks. Currently, Bitcoin is trading around $65,436, fluctuating in a narrow range with resistance at $71,656 and support at $64,825. The Market Value to Realized Value (MVRV) ratio shows an unrealized profit of over 120% for circulating BTC. However, transaction volume has decreased, indicating a reduction in speculation appetite. The decline in Bitcoin exchange flows, especially among short-term holders, highlights this trend. Despite these profits, the market shows signs of indecision, with investors waiting for higher or lower prices to act. 🔗 Read the full article here.
Cryptocurrency of the day: Core DAO (CORE)
Core DAO (CORE) is an innovative blockchain that brings significant added value by combining security and scalability. Its main innovation lies in the integration of multi-chain consensus, allowing for fast and secure transactions.
The native cryptocurrency, CORE, is primarily used for transaction fees and participation in consensus. It was initially distributed through airdrops and public offerings, offering holders benefits such as reduced fees and staking rewards. CORE can be used to vote on governance proposals, thus facilitating network decentralization.
Recent performances:
Current price: €1.44
Percentage increase: 8.25% (1-day increase)
Market cap: €1,287,985,101
Rank on CoinMarketCap: 62
Crypto analysis: Ondo (ONDO)
After reaching a historical peak just below $1.50, ONDO, the RWA cryptocurrency, experienced selling pressure that brought its price back to $1. This level has acted as solid support, allowing for a rebound in the price to $1.26. The recovery is supported by the 50-day moving average, reassuring investors about the continuation of the bullish trend. The positive momentum is also visible through oscillators and buyer behavior, suggesting potential continuous growth.
However, technical analysis reveals signs of selling pressure, with liquidation of long positions and a negative funding rate. Open interest in ONDO/USDT perpetual contracts follows the price direction, but key liquidation zones around $1.36 could lead to increased volatility. If ONDO maintains its price above $1, an increase up to $1.40 and potentially $1.52 is conceivable. In the event of a decline, support levels at $0.94 and $0.85 should be monitored.