🚀 Revolut launches its stablecoin, 📉 the Fed finally lowers its rates
🚀 Revolut launches its stablecoin, 📉 the Fed finally lowers its rates
Welcome to the Daily Tribune of Thursday, September 19, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, September 19, 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:
Sunny ☀️
24h crypto recap! ⏱
Revolut launches its Stablecoin! 🚀
Revolut, the British fintech, is preparing to launch its own stablecoin to provide its users with a stable and reliable alternative in the often volatile world of cryptocurrencies. This stablecoin will likely be pegged to the US dollar or the euro, thereby minimizing value fluctuations. Revolut aims to strengthen user confidence by strictly adhering to current regulations, particularly through regular audits and total transparency about the reserves that support the stablecoin. This initiative could also facilitate international payments, money transfers, and investments, while offering fast and low-cost transactions. With its large user base, Revolut could attract a new audience looking for secure and stable digital payment solutions, thereby redefining the use of cryptocurrencies in everyday life.
Bitcoin: $590,000 to support 20 projects from the Human Rights Foundation 🌍
The Human Rights Foundation (HRF) has announced a new series of grants totaling $590,000 in Bitcoin, intended to fund 20 global projects in favor of human rights. These funds will be used to support various initiatives, including conferences like Bitcoin++ in Berlin and TABConf in Atlanta, which allow developers living under authoritarian regimes to acquire Bitcoin-related skills. The grants will also fund events such as Baltic Honeybadger, LaBitconf, and Descentralizar in Argentina, placing Bitcoin at the center of the struggle for financial freedom in regions where fundamental rights are often violated. The Solidarity Summit in Vienna, bringing together activists and former political prisoners, will also receive support for the production of a documentary on financial freedom. Beyond funding, these grants are seen as a lever to promote Bitcoin as a tool for emancipation against economic oppression.
Google Cloud launches a crypto RPC service compatible with Ethereum 💻
Google Cloud has launched a new Blockchain RPC (Remote Procedure Call) service, compatible with the Ethereum network, aimed at simplifying the development of decentralized applications (DApps). This service allows developers to easily access blockchain data through a reliable, scalable, and cost-effective solution, minimizing the complexities associated with managing node infrastructure. Compatible with the JSON-RPC standard of Ethereum, it enables quick and simplified integration, easing the transition for already established developers. Google offers a free level allowing up to 100 requests per second and 1 million requests per day, making this service particularly appealing for startups as well as large companies requiring solid infrastructure.
The Fed finally lowers its rates: what are the consequences for Bitcoin? 💰
The American Federal Reserve (Fed) has announced a decrease in its interest rates, bringing the target range to 4.75%-5%, after a long period of monetary tightening. This decision aims to support the economy in the face of uncertain prospects while pursuing the inflation target of 2%. However, this decrease, larger than expected, raises questions about its impact on financial markets, particularly on cryptocurrencies like Bitcoin. Although a rate reduction is generally perceived as favorable for risky assets, experts such as Arthur Hayes warn that reverse repurchase agreements (RRPs) could divert liquidity towards safer investments, limiting the capital influx towards Bitcoin. A report from Bitfinex even forecasts a possible drop of 15 to 20% in Bitcoin's price, calling into question the idea that monetary easing always benefits cryptos. But in the meantime, Bitcoin is doing well and has even surpassed 62,000 dollars.
Today's crypto: Celestia (TIA)
Celestia is a modular blockchain that innovates by separating data management from transaction execution, allowing for the creation of more flexible and scalable blockchains. This unique architecture adds great value by offering a tailored solution for specific applications while reducing infrastructure costs.
Celestia's native crypto, TIA, plays a central role in the network. It is primarily used to secure the blockchain through staking, facilitate transaction fee payments, and participate in network governance. TIA was distributed during a public and private sale, providing holders with benefits such as staking rewards and voting rights on key network decisions.
Recent performance
Current price: €5.58
Change (1 day): +19.36%
Market capitalization: €1,182,292,688
Rank on CoinMarketCap: 54
🐋 Shiba Inu ready to leap: Are whales taking action?
The activity of crypto whales around Shiba Inu (SHIB) is attracting the attention of investors, as these large holders are massively accumulating SHIB tokens, hinting at a potential 7000% explosion in the value of the cryptocurrency. In just two days, over 3 trillion SHIB tokens have been purchased by these players, and $4 million have been withdrawn from exchanges, which is often a sign of confidence in the long-term prospects of the asset. Since March 2024, SHIB has lost more than half of its value, but the recent accumulation by whales could signal a potentially spectacular recovery.
Analysts, such as LuckSide, estimate that this dynamic could propel the price of SHIB to $0.001, representing an increase of over 7000% compared to its current price. Despite this optimism, the fear and greed index remains at 33 (indicating some concern in the market), and short-term forecasts suggest a slight decline by mid-October. However, the strong activity of whales could pave the way for a significant rise in the long term, making Shiba Inu a crypto to watch closely.
🔗 Read the full analysis here.
