🌟 USA, Brazil, Morocco: The whole world succumbs to the charm of Bitcoin and cryptos!
Welcome to the Daily Tribune of Thursday, November 28, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday, November 28, 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! ⏱
📊 Bitcoin: The state FOMO in action!
The United States is considering creating a strategic Bitcoin reserve, creating a global shockwave. Inspired by the bill from Senator Cynthia Lummis, this movement could encourage other nations to follow suit. In Brazil, a proposed bill aims to allocate up to 5% of foreign exchange reserves, or 16 billion dollars, to the purchase of BTC to protect against geopolitical risks. With a limited quantity and characteristics of resilience against international sanctions, Bitcoin is becoming a sought-after asset by states.
El Salvador, Bhutan, and now Brazil are joining this trend, while the United States plans to strengthen its positions, with Trump and influential officials advocating its adoption. A new era of economic competition seems to be opening up, with Bitcoin at the center.
💰 Ripple bets 25 million to support pro-crypto elected officials in the USA
Ripple is strengthening its political influence by injecting an additional 25 million dollars into the Fairshake PAC, bringing its total to 45 million since 2024. This initiative aims to promote candidates favorable to crypto assets, with the goal of shaping pro-crypto American legislation. With a fund of 103 million dollars for the 2026 election cycle, Fairshake has already supported a majority of pro-crypto officials in Congress, especially in a context of Republican domination.
Ripple aims to promote the adoption of laws such as the "Financial Innovation and Technology Act" and counter influential opponents, such as Sherrod Brown in Ohio. More than just financial support, this strategy aims to ensure a legislative framework conducive to blockchain innovation while consolidating Ripple's position in a competitive market.
🇲🇦 Morocco on the brink of crypto regulation
Morocco, after banning cryptocurrencies in 2017, is making a historic turnaround by developing a law aimed at legalizing and regulating digital assets. This decision follows a massive adoption of cryptos by the population, placing the country 24th globally in terms of transactions. Inspired by the European regulatory framework MiCA, this new approach reflects a desire to modernize the financial system and ensure financial inclusion.
At the same time, the Moroccan central bank is considering launching a digital currency (CBDC) in line with international trends. This strategic shift could position Morocco as a major player in digital financial innovation while ensuring better protection for investors.
🚀 Solana: the ETF that could revolutionize 2025!
Growing optimism surrounds the potential approval of a Solana ETF, propelled by proposals submitted by VanEck, 21Shares, and others, to the Cboe BZX exchange. Expected in August 2025, this SEC decision could be facilitated by Gary Gensler’s resignation in January 2025, raising hopes for a more favorable regulatory climate. Solana, already approved as an ETF in Canada and Brazil, is reinforcing its international legitimacy.
At the same time, its price has reached a historic high of $264.31, marking an impressive increase of 160% in 2024. If this ETF were to come to fruition, it could transform the perception of digital assets in the United States, placing Solana at the heart of global financial innovation.
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Crypto of the day: Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is a decentralized naming solution on the Ethereum blockchain, replacing complex addresses with readable names such as "example.eth." This innovation simplifies interaction with the blockchain by linking these names to addresses, metadata, or decentralized content.
The native crypto, ENS, is used to govern the project via a DAO, allowing holders to vote on key decisions. The main utility includes payment of fees and access to governance mechanisms. Distributed largely during an airdrop to its early users, ENS rewards its holders with direct participation in the ecosystem and usage opportunities in DeFi services.
Recent performance
Current price: €35.32
24h change: +45.66%
Market capitalization: €1.17 billion
Rank on CoinMarketCap: #101
Technical analysis: Sui (SUI)
The cryptocurrency Sui, after reaching an all-time high of $3.94, is currently showing signs of short-term weakness with a price around $3.46.
Although this pullback may seem concerning, the bullish momentum remains intact in the medium and long term, supported by indicators like the annual VWAP and the 50 and 200-day moving averages.
Key price levels to watch include a potential support around $3 and critical resistance at $4. A break below support could lead to a pullback to €2.25, while a bullish recovery could propel Sui beyond €4, even €5.
The analysis also highlights strong activity in SUI/USDT perpetual contracts, with open interest declining, but major liquidation zones identified between $3.75 and $2.85. These levels represent strategic points for investors looking to maximize their position.
Despite current fluctuations, the general enthusiasm for Sui and its past performance underscore its potential, although caution is warranted in light of a possible correction due to the recent intensity of its bullish moves.
🔗 Read the full analysis here.
