Trump 2024: A Bright Future for Bitcoin? 💹
Welcome to the Daily Tribune on Thursday, May 09, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, May 09, 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:
Cloudy ☁️
24h crypto recap! ⏱
Mastercard and banks reinvent crypto transactions 🚀
Mastercard, in collaboration with financial giants like Citi and JPMorgan, is venturing into the tokenization of assets, using a shared ledger for the settlement of tokenized assets. This project, which also involves US Bancorp, Wells Fargo, and Visa, aims to reduce errors, fraud, and accelerate cross-border transactions through blockchain technology. Mastercard's Regulated Settlement Network (RSN) establishes a legal framework for integrating these innovations into the digital economy. Despite regulatory challenges, the future of financial transactions is moving towards a programmable and frictionless system. Read the full article
Trump's Reelection: A Springboard for Bitcoin? 🇺🇸💹
Donald Trump's potential reelection in 2024 could be a major boost for Bitcoin. Standard Chartered anticipates that under a Trump administration, significant regulatory easing could occur, transforming the White House into a crypto ally. This business-friendly climate could reduce obstacles for Bitcoin, facilitating broader international adoption and increasing its value. With Trump, Bitcoin could play a central role in monetary policy debates, strengthening the position of the dollar while offering an alternative in economic conflicts. Read the full article
Ripple vs SEC: The Final Act Before the Verdict ⚖️
The lawsuit between Ripple Labs and the SEC is reaching its climax with the SEC's filing of the final memorandum. The regulator rejects Ripple's arguments in good faith and insists on the need for injunctions to prevent potential future violations. Ripple, on the other hand, criticizes the SEC's inconsistency and continues its international expansion, notably with the launch of XRPL solutions in Japan in partnership with HashKey DX. A verdict is expected by September and could have significant consequences for the entire crypto sector. Read the full article
FTX: An ambitious reorganization plan for creditors 💼🔄
FTX proposes a unique reorganization plan that allows 98% of its creditors to recover 118% of their claims in cash, subject to approval by the Delaware bankruptcy court. This plan, which aims to fully repay non-governmental creditors with an additional 9% interest, marks a significant departure from previous projections. With $14.5 to $16.3 billion in available cash after the liquidation of global assets, FTX aims to offset losses incurred since its bankruptcy in 2022. Read the full article
Crypto of the day: THORChain (RUNE)
THORChain stands out for its ability to facilitate decentralized cryptocurrency exchanges across different blockchains without the need for centralized gateways. This innovation allows for smooth interoperability, thus increasing the liquidity and accessibility of digital assets.
RUNE is the native crypto of THORChain, mainly used to secure the network, provide liquidity, and pay transaction fees. It was initially distributed via an ICO. RUNE holders benefit from staking rewards, reduced fees, and can participate in network governance. RUNE can be used for token swaps between different blockchains, bringing unprecedented flexibility to crypto exchanges.
Recent Performance
Current price: €5.99
Change in 24h: +9.17%
Market capitalization: €2,008,464,296
Rank on CoinMarketCap: 51
Technical Analysis of the Day: Ethereum (ETH)
Ethereum has rebounded from its support at $2,900 after a 30% drop, stabilizing above this key level. Currently at $2,984, ETH remains below its 50-day moving average and the critical zone of $3,400. The oscillators' momentum shows a period of uncertainty, but the overall bullish structure is being tested in the short term. Open interest in ETH/USDT contracts has slightly increased despite the price drop, suggesting increased selling pressure.
The liquidation heatmap reveals buyer interest around $2,900, with critical zones at $3,300 and beyond. If ETH manages to hold this support, an increase towards $3,300 or even $3,700 could occur. Conversely, a drop below $2,900 could lead to a decline towards $2,700 or $2,300. It is crucial to monitor these levels to anticipate significant market movements and remain vigilant in the face of increased volatility.