🛡️ The EU declares war on confidential cryptos, with Monero in its sights!
Welcome to the Daily Tribune on Wednesday, June 12, 2024 ☕️
Hello Cointribe! 🚀
Today is Wednesday, June 12, 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! ⏱
Trump: An unexpected advantage thanks to crypto? 💼
Billionaire investor Mark Cuban warns that Joe Biden's stance on cryptocurrencies could cost him the 2024 presidential elections. Cuban highlights that Gary Gensler's strict policy towards the crypto industry as chairman of the SEC could alienate digital asset-friendly voters. On the other hand, Donald Trump could capitalize on this situation, despite his limited knowledge of crypto, to attract this key electorate. The FIT21 law adds complexity to this situation, with divided opinions on its regulatory impact. This context makes crypto a central issue in the upcoming US elections. 🔗 Read the full article here.
XRP attracts 100k new investors in June 🌟
In June, the XRP ecosystem welcomed 100,000 new investors, demonstrating increasing demand despite the crypto's price stability between $0.48 and $0.52. Analysts closely monitor the average investment age of the dollar (MDIA), which has increased, indicating a trend towards long-term investment among XRP holders. This development could push the price towards $0.55. The circulation rate has decreased, suggesting reduced selling pressure. Meanwhile, Ripple is expanding its global network, particularly in Asia, while preparing the launch of a US dollar-backed stablecoin. 🔗 Read the full article here.
The future of fast transactions with Tectum 🚀
Tectum, the fastest blockchain, has reached a major milestone in 2024 with its official registration with the US Patent and Trademark Office. This blockchain, developed by CrispMind LTD, stands out for its instant transactions and optimized architecture, surpassing its competitors. In addition to speed, Tectum focuses on integrity and security, with rigorous protocols to ensure transparent and secure transactions. Tectum embodies the future standard of speed and reliability in crypto payments and smart contracts, promising a major technological revolution. 🔗 Read the full article here.
The EU tackles crypto privacy, Monero faces a major challenge 🔍
The European Union has intensified its position against privacy tokens and crypto mixers in a recent report, accusing these technologies of facilitating illicit activities. The report, prepared by the EU Innovation Hub with Europol and Eurojust, highlights the risks associated with financial traceability and anti-money laundering efforts. Monero, Zcash, Grin, and Dash are specifically mentioned for their protocols that make transactions opaque. Mixers like Tornado Cash are also criticized for complicating the tracing of illicit funds. While the EU recognizes the legitimacy of privacy protection, it is considering stricter regulation of these tools, posing a challenge to the fundamental principles of the crypto ecosystem. 🔗 Read the full article here.
Crypto of the day: Oasis Network (ROSE)
Oasis Network (ROSE) stands out for its innovative approach to blockchain, offering solutions focused on privacy and scalability. The added value of this blockchain lies in its ability to handle confidential smart contracts while protecting user data, which is crucial for sensitive applications. The native crypto, ROSE, is mainly used for transactions, staking, and network fees. Distributed through a public sale, it offers holders benefits such as staking rewards and access to decentralized services. It can be used in various use cases, including decentralized finance and privacy applications.
Recent Performance
Current price: €0.1154
Percentage increase/decrease: +6.34% (increase over 1 day)
Market cap: €783,803,723
Rank on CoinMarketCap: 91
Crypto analysis: Bitcoin (BTC)
Despite strong upward pressure, Bitcoin has failed to break through the critical resistance at $72,000, marking its fourth failure at this level. This rejection has formed a double top, suggesting a possible continuation of the bearish movement. Currently, Bitcoin is trading around $67,500, and although stabilization at this level offers hope to buyers, the momentum seems to be weakening. The medium and long-term bullish structure, supported by the 50 and 200-day moving averages, remains intact, but the recent market weakness could indicate a correction towards $60,000.
The open interest of Bitcoin perpetual contracts is increasing, indicating a predominance of long positions despite increased selling pressure. Massive liquidations around $72,000 show strong resistance at this level, while the $65,000 to $66,000 range could become critical for future movements. If Bitcoin fails to hold above $66,000, a further decline to $60,000 is possible. However, if the current support holds, a new attempt to break through $72,000 could occur, with the potential for an increase up to $78,300 according to Fibonacci extensions.