🚀 Vitalik speaks about the future of Ethereum, Trump raises millions in crypto
Welcome to the Daily Tribune, Thursday August 1, 2024 ☕️
Hello Cointribe! 🚀
Today is Thursday August 1, 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! ⏱
US Debt Nears $35 Trillion: Is Bitcoin the Lifesaver?
The national debt of the United States has crossed the historic threshold of $35 trillion and raises serious concerns about global financial stability. In this situation, Bitcoin stands out as a credible alternative to the dollar, thanks in particular to its decentralized nature and limited supply. Analysts believe that the rise of this debt could catalyze a spectacular increase in the price of Bitcoin and attract investors seeking protection against inflation. Historically, Bitcoin has often thrived during periods of economic turbulence, and this time may be no exception.🔗Read the full article here.
Vitalik Buterin Reveals the Future of Ethereum: Applications and Security at the Heart of Priorities
During the EDCON2024 conference, Vitalik Buterin unveiled a clear vision for the next ten years of Ethereum. Prioritizing the development of decentralized applications (DeFi, DID, DAO, NFT), he also highlighted innovative projects such as Polymarket and Firefly. Buterin proposed improvements to wallet security, including encrypting private keys in phone chips and storing them partially in compliant institutions. He also suggested using ZK technology to integrate KYC information, thus enhancing privacy and compliance. Ethereum positions itself as an essential leader, combining technological innovation and practical applications. 🔗Read the full article here.
👑 Solana Takes the Crown for Revenue from Ethereum
Solana has reached an important milestone by surpassing Ethereum in terms of weekly revenue, recording $25 million compared to Ethereum's $21 million for the week of July 22. This performance is mainly due to the increase in transaction fees and tips related to maximum extractable value (MEV). Intense activity on decentralized exchanges (DEX) and the frenzy surrounding memecoins, particularly through platforms like Pump.fun and Moonshot, have significantly boosted Solana's revenue. The network reached a peak of $5.5 million in daily revenue, its highest level in three months. Although Ethereum's dominance remains strong with a total locked value (TVL) of nearly $60 billion, compared to $5.5 billion for Solana, the gap is gradually narrowing.🔗Read the full article here.
💰 Trump Makes a Big Impact: $21 Million Raised at Bitcoin Conference
At the Bitcoin 2024 conference in Nashville, Donald Trump achieved a spectacular fundraising result by raising $21 million for his presidential campaign. This event, held at the Nashville Music City Center, brought together approximately 100 participants such as the Winklevoss brothers and celebrities like Kid Rock and Billy Ray Cyrus. The success of this fundraising, marked by impressive prices of $844,600 for a roundtable with Trump and $60,000 for a photo, demonstrates his new pro-crypto strategy. Trump has announced measures favorable to the industry, including the creation of a strategic Bitcoin reserve and the potential replacement of Gary Gensler, the chairman of the SEC. This pro-crypto shift sharply contrasts with his previous positions and strengthens his financial and political position heading into the 2024 elections. 🔗Read the full article here.
Crypto of the Day: Jupiter (JUP)
Jupiter (JUP) is a cryptocurrency built on the Solana blockchain, distinguished by its approach focused on data security and privacy. Its innovation lies in the creation of decentralized data protection solutions, aiming to offer increased security for users while remaining accessible.
The native crypto, JUP, is primarily used to pay for transactions on the network and participate in governance processes through staking. JUP holders benefit from increased participation in network decisions, as well as rewards for staking. The initial distribution was carried out through a combination of private and public sales, with a total supply of 10 billion JUP.
Recent Performance
Current Price: €0.9121
Percentage Increase/Decrease: - 8.27% (1-day decrease)
Market Cap: €1,230,289,509
Rank on CoinMarketCap: 6
Bitcoin and Ether ETFs Fall After Trump Announcements
Bitcoin and Ether ETFs experienced a significant drop after the excitement generated by Donald Trump's announcements at the Bitcoin 2024 conference. Bitcoin briefly exceeded $69,000, boosted by Trump's promises to create a strategic Bitcoin reserve and potentially dismiss SEC Chairman Gary Gensler. However, this wave of optimism quickly gave way to net outflows of $18 million from Bitcoin ETFs, interrupting a four-day streak of gains. The major affected funds include Grayscale's GBTC fund and those of Fidelity, Ark Invest, Bitwise, and VanEck.
Simultaneously, Ether ETFs experienced outflows of nearly $100 million, extending a series of losses. Since their recent launch, these funds have seen a decrease of approximately $1 billion in assets under management. Grayscale's ETHE fund has particularly suffered, while BlackRock's ETHA fund has seen inflows. This volatility is fueled by macroeconomic concerns, including the upcoming financial results of major tech companies and decisions by the Federal Reserve. Market movements, such as the transfer of $2 billion worth of Bitcoin by the United States Marshals Service, have also amplified uncertainty among investors. 🔗Read the full article here.
