🚨 Ripple CEO attacks Dogecoin: "Useless!" 🐕
🚨 Ripple CEO attacks Dogecoin: "Useless!" 🐕
Welcome to the Daily Tribune Wednesday, June 5, 2024 ☕️
Hello Cointribe! 🚀
Today is Wednesday, June 5, 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! ⏱
Dogecoin deemed useless by Ripple CEO 🐕
Brad Garlinghouse, CEO of Ripple, severely criticized Dogecoin during the Consensus 2024 conference, stating that this memecoin lacks real utility. Garlinghouse insists that cryptocurrencies should solve concrete problems, which Dogecoin does not, as it is primarily supported by speculation. He emphasized that the popularity of Dogecoin is fueled by its community and support from influential figures, rather than tangible use cases. This critique reflects a broader concern within the crypto community, which seeks to move beyond mere speculation to achieve increased legitimacy and regulatory acceptance. 🔗 Read the full article here.
Bitcoin: 32% drop in short-term investors' profits 📉
Bitcoin has recently experienced a significant drop in profits for short-term investors, with a 32% decrease. This situation is a result of market consolidation, which has reduced short-term holders' profits from 42% to 10% in a few months. Crypto analyst Axel Adler attributes this decline to a reset of high profit levels, encouraging new investors to enter the market attracted by potential profit opportunities. This dynamic reflects increased volatility among short-term Bitcoin holders, while long-term investors maintain a more stable approach. 🔗 Read the full article here.
Crypto and AI: FET, AGIX, and OCEAN to merge into ASI in 7 days 🤖
SingularityNET, Fetch.ai, and Ocean Protocol announce the merger of their tokens FET, AGIX, and OCEAN into a single crypto named Artificial Superintelligence Alliance (ASI), scheduled for June 11. This initiative aims to create the largest open-source decentralized network in the AI field, bringing together over 200,000 token holders. Token conversion will be done through the SingularityNET platform with audited migration contracts to ensure security. This strategic merger aspires to offer unprecedented power and scale in the AI industry while facilitating collaboration and innovation among different actors. 🔗 Read the full article here.
Sports and crypto meet: Watford FC revolutionizes sports financing ⚽
Watford FC, an English football club, is launching a groundbreaking initiative by selling 10% of its shares in digital form through the Seedrs platform, allowing fans to purchase shares for around £12 each. This move aims to enhance fan engagement by offering them direct participation in the management and development of the club. In parallel, Watford FC introduces fan tokens, strengthening the sense of belonging and influence of supporters in the club's decisions. Scott Duxbury, chairman of Watford FC, welcomes this advancement, positioning the club as a pioneer in integrating digital technologies into sports. 🔗 Read the full article here.
Crypto of the day: Arkham (ARKM)
Arkham (ARKM) is an innovative cryptocurrency integrated into an artificial intelligence platform that stands out for its ability to analyze and extract complex data from the blockchain. This innovation offers significant added value by allowing users to visualize transaction flows in a clear and understandable way.
The native crypto ARKM is mainly used to access premium platform features and was initially distributed through an ICO. Holders benefit from discounts on service fees and early access to new features. It can be used to pay for analysis services and participate in platform governance.
Recent performance of Arkham
Current price: €2.54
Change in the last 24 hours: -11.30%
Market cap: €523,499,868
Rank on CoinMarketCap: 135
Crypto analysis: Bitcoin (BTC)
After bouncing back from the lower part of this range, it reached a resistance around $71,000 - $72,000. Currently, the price is trading below $71,000, indicating a period of short-term indecision. Despite this hesitation, the medium and long-term trend remains bullish, supported by the 50-day and 200-day moving averages.
Moving on to derivatives and technical data. The open interest of Bitcoin perpetual contracts and a positive funding rate indicate bullish conviction among speculators. Liquidations remain low, suggesting a healthy market. However, the liquidation heat map shows critical areas between $72,000 - $74,000 above the current price and between $65,000 - $67,000 below. These areas are points of major interest, as reaching these levels could trigger significant orders, increasing volatility.
For assumptions about the Bitcoin price, as long as it remains above $66,000, a breakout above $72,000 could lead to an ATH of $74,000 or even $78,300, representing a 13% increase. If Bitcoin falls below $66,000, the next supports would be at $65,000 and $63,000, with a potential downside towards $60,000, a 13% decrease. It is crucial to monitor price reactions at these levels to validate or invalidate the envisioned scenarios, while remaining cautious of possible false signals and market pressures.
