🌟 The countdown is on: Bitcoin heading towards a historic high?
🌟 The countdown is on: Bitcoin heading towards a historic high?
Welcome to the Daily Tribune Saturday, April 13, 2024 ☕️
Hello Cointribe! 🚀
Today is Saturday, April 13, 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:
Cloudy ☁️
24-hour crypto summary ! ⏱️
🚀 Bitcoin ETF: A Golden Future in Hong Kong?
Hong Kong, recognized as a leading financial center, is potentially preparing to approve the first Bitcoin ETFs. This development could trigger a substantial influx of investments, mainly from Chinese investors. The Southbound Stock Connect program, which provides Chinese investors with access to stocks listed in Hong Kong, would be a preferred channel for these investments. According to Matrixport, this new avenue could attract up to 200 billion Hong Kong dollars in Chinese investments, a significant opportunity for them to diversify their portfolios into alternative assets like Bitcoin, a similar phenomenon to the enthusiasm seen for gold on the Shanghai Stock Exchange.
However, the approval of Bitcoin ETFs is not yet assured and will depend on regulators' ability to balance opening up to international investments with strict cryptocurrency regulations. If approved, these ETFs could not only boost Bitcoin transaction volume and liquidity, but also accelerate institutional adoption and innovation in the cryptocurrency ecosystem.
🔗 Chainlink introduces "Transporter": A revolution in cross-chain transfers 🔄
Chainlink has recently launched Transporter, an innovative application designed to facilitate and secure cryptocurrency transfers between different blockchains. This solution is based on Chainlink's cross-chain interoperability protocol, known as CCIP, which aims to simplify transactions between multiple networks. Transporter offers a user-friendly interface that allows users to transfer tokens between eight major blockchains, including Ethereum, Polygon, and Binance Chain. A dedicated explorer allows users to track their transactions in real-time, increasing transparency and reducing costs, as there are no additional fees beyond those imposed by CCIP service providers.
The core of Transporter relies on enhanced security through the use of the CCIP protocol, which eliminates single points of failure by integrating multiple decentralized oracle networks and an independent risk management system. Chainlink has subjected CCIP to rigorous audits and has implemented configurable throughput limits per pathway and token to minimize the risk of hacking, which accounts for a significant share of incidents in the crypto space. Furthermore, Chainlink has innovated in improving CCIP with a new mechanism for native ETH transfers through WETH token pools, thereby enhancing the lock/unlock functions of the protocol. This advancement is a significant step towards simplified, transparent, and highly secure interoperability, positioning Chainlink as a key facilitator in the creation of an interconnected and accessible blockchain ecosystem.
🚀 Bitcoin on its way to a new ATH: The countdown is on!
The Bitcoin halving, a highly anticipated event where the block mining reward is halved, is less than 10 days away. This event has historically been a major trigger for significant price increases. According to analyses and forecasts, this reward reduction could propel the price of Bitcoin to new heights, with projections ranging between $80,000 and $100,000. The increased scarcity of Bitcoin, combined with constant or increasing demand, is expected to drive price appreciation. Previous halvings have had similar positive impacts on the price, reinforcing current optimism.
The favorable context is further amplified by recent factors such as the introduction of Bitcoin ETFs in the United States, which have stimulated demand without increasing the available supply. Additionally, the adoption of Bitcoin by major financial institutions such as BlackRock and Fidelity has increased the legitimacy and acceptability of cryptocurrency among institutional investors. The upcoming halving could follow the historical trend and trigger a new period of substantial gains for Bitcoin. Wait and see!
⏳ Fetch.AI: Awaiting a New Cap 🛑
Fetch.AI, a project focused on artificial intelligence in the cryptocurrency space, is going through a period of stagnation after experiencing moments of great popularity. Despite the initial excitement generated by artificial intelligence projects and collaborations with major initiatives like Artificial Super Intelligence at the Nvidia GTC 2024 conference, Fetch.AI seems to have lost its momentum. Investors and market observers are now in anticipation, wondering what the next turning point for the FET token will be, as it has not experienced significant movements for over a month.
Fetch.AI's current situation is marked by a noticeable decline in investor interest, as evidenced by the reduction in the number of active addresses on the network. This stagnation is also reflected in reduced volatility, leaving the project in an uncertain consolidation phase. The FET price fluctuates around $2.54, facing resistance at $2.85 and support at $2.40, levels that it has rarely surpassed recently.
Crypto of the day: Maple (MPL)
Maple (MPL) represents a significant breakthrough in the field of decentralized finance (DeFi). This platform offers an innovative structure for non-recourse corporate loans, allowing institutions and businesses to access financing without the traditional constraints of financial intermediaries. The added value of Maple lies in its blockchain approach, which ensures transparency and security while reducing transaction costs and execution times.
Maple is a native crypto of the Ethereum ecosystem, and its main utility is to serve as a governance token as well as a means of payment for interest on loans distributed on its platform. MPL tokens were initially distributed through a public sale, followed by periodic distributions to maintain community and user engagement. MPL holders benefit from several advantages, such as participating in the governance of the platform, which includes voting on key protocol parameters and improvement proposals. The tokens can also be used for staking and securing the platform, offering a reward in return.
Recent performance
Current price: €16.97
Percentage increase/decrease: -8.12% (1-day decrease)
Market capitalization: €74,961,960
Rank on CoinMarketCap: #503.
Bitcoin Halving 2024: A Countdown to History!
The cryptocurrency world is buzzing as the Bitcoin halving, scheduled between April 18 and 21, 2024, is rapidly approaching. This process halves the miners' reward for each validated block, reducing it from 6.25 to 3.125 BTC. This mechanism is essential to control Bitcoin inflation and maintain the supply cap at 21 million units, a fundamental principle since Bitcoin's creation by Satoshi Nakamoto.
The impact of this halving on the market is the subject of intense speculation. Historically, each halving has been followed by a significant increase in the price of Bitcoin, due to the reduction in the supply of new bitcoins. However, the effect of the upcoming halving may already be factored into current prices, and other factors such as institutional adoption and regulations could also influence market dynamics. The next halving is therefore a key event that could either confirm the traditional economic models of Bitcoin or question them, marking a significant milestone in the evolution of this cryptocurrency.
