🇺🇸 Trump embraces crypto: BTC, XRP, and SHIB accepted for his campaign! 🗳️💰
🇺🇸 Trump embraces crypto: BTC, XRP, and SHIB accepted for his campaign! 🗳️💰
Welcome to the Daily Tribune Thursday, May 23, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, May 23, 2024, and like every day from Tuesday to Saturday, we summarize the news from the past 24 hours that you shouldn't miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡️ Temperature:
Partly cloudy ⛅
24h crypto recap! ⏱
🌟 Bitcoin (BTC) uncouples from other assets!
Bitcoin is showing a significant trend of decoupling from traditional assets such as stocks and gold. In 2023, this decoupling reached historical levels, particularly in the face of periods of global economic volatility. Analysts are observing a decrease in correlation between BTC and the S&P 500 index, as well as with gold, suggesting a new phase for the digital asset as an independent safe haven. Read the full article.
🚀 Surge in transactions on Shibarium: Shiba Inu climbs 209%!
Shibarium, the scaling solution for Shiba Inu, has seen its transactions skyrocket by 209%, going from 6,000 to 18,560 in one week. This boom is attributed to the recent hard fork on the main network, attracting more users. Meanwhile, the price of SHIB has increased by 6.88%, reaching $0.00002568. This momentum could strengthen with the potential approval of an Ethereum ETF by the SEC. Read the full article.
💼 Trump accepts BTC, XRP, and SHIB for his presidential campaign!
Donald Trump announced that his 2024 presidential campaign now accepts donations in Bitcoin (BTC), XRP, and Shiba Inu (SHIB) through Coinbase. This decision marks a turning point in U.S. policy towards cryptocurrencies, contrasting with the restrictive position of the Biden administration. Supporters can contribute amounts ranging from $20.42 to $4,547. Read the full article.
📈 Memecoin frenzy grips the crypto market again!
The cryptocurrency market is experiencing a renewed enthusiasm for memecoins inspired by internet memes. Tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and the new Pepecoin (PEPE) are seeing their trading volumes and market capitalizations skyrocket. PEPE, in particular, has reached the 21st position in terms of market capitalization and has surpassed DOGE and SHIB in 24-hour trading volume. Read the full article.
Crypto of the day: Gnosis (GNO)
Gnosis uses the Ethereum blockchain to create decentralized prediction and market management tools. Gnosis' major innovation lies in its ability to enable the creation of prediction markets, where users can speculate on the outcomes of future events. This adds a new dimension to decentralized transactions by integrating prediction mechanisms based on collective intelligence.
Gnosis' native cryptocurrency, GNO, is primarily used to create OWL tokens, which are used to pay fees on the Gnosis platform. GNO was initially distributed through an Initial Coin Offering (ICO) in 2017. Advantages for GNO holders include participation in platform governance and the ability to generate passive income by staking their tokens. GNO can be used to pay transaction fees on the platform and participate in the decentralized governance of Gnosis.
Recent performance
Current price: €353.07
Percentage increase/decrease: +5.84% (1-day increase)
Market capitalization: €913,776,710
Rank on CoinMarketCap: 95
Technical analysis of the day: Bitcoin (BTC)
Bitcoin (BTC) has recorded an impressive increase of nearly 20% after bouncing back at $60,000. Since then, the flagship cryptocurrency has broken through several important resistance levels, peaking at a test of the $71,000 resistance. However, buying momentum seems to have temporarily waned, with the price stabilizing around $69,500. This phase of indecision is not unusual and could precede a new bullish trend, supported by oscillators and 50-day moving averages that remain favorable.
Analysis of BTC/USDT perpetual contracts shows an increase in open interest, reflecting bullish conviction among speculators. The rise in funding rates indicates increased buying pressure, accompanied by significant liquidations of short positions. The heatmap of liquidations in the last three months reveals key areas at $67,000 and $71,000, where many orders have been executed. The next liquidation zone is between $72,000 and $74,500, with another notable zone between $65,000 and $66,000, highlighting crucial points for future BTC volatility.
If Bitcoin stays above $65,000, breaking through $71,000 seems plausible, opening the way to a potential new ATH around $73,000 to $74,000. On the other hand, if the price drops below $65,000, support could emerge at $63,000, with key levels to watch until $60,000. Caution is advised against market "fake outs" and "squeezes". While this analysis is based on technical criteria, it is essential to consider the fundamental factors that can quickly influence the cryptocurrency market. Stay informed and cautious in your investments!
