Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Bitcoin's Surprise Surge to $72K: Bitcoin's meteoric rise to $72,000 yesterday sparked intense speculation online, with many in the community seeing this as a sign of Bitcoin reacting to macroeconomic factors rather than solely spot BTC ETF inflows.

2. Frax Finance $250M USDe Allocation: Frax Finance is making a huge splash in decentralized finance (DeFi) with a $250 million USDe allocation to new liquidity pool.

3. 1inch Network Crypto Debit Card: The launch of 1inch Network's crypto debit card, developed with Mastercard and Baanx, bridges traditional finance and DeFi. The card allows users to conduct crypto-to-fiat transactions at ATMs and point-of-sale locations, providing flexibility and convenience.

4. $TNSR Governance Token: The Tensor Foundation, overseeing the Solana NFT marketplace Tensor, introduced its governance token, TNSR, to promote community engagement and decentralized decision-making. TNSR holders gain exclusive privileges, including fee discounts and governance rights.

5. 💡Feature of the Day - Bitcoin Mining Post-Halving: Bitcoin miners navigate post-halving challenges to maintain profitability amid rising mining costs. Historically, Bitcoin's price surge following halving events has incentivized continued investment in mining infrastructure.

6. 🫨 What’s Buzzing? - Have you used deBridge yet? They’re onto something! They are now running a points program, potentially leading to an airdrop, may be launched soon! Read the whole guide at UseTheBitcoin’s latest article “deBridge Points System Guide (Potential Airdrop)”

   
   All this and more in today’s headlines!

📰 News Highlights:

🚀 Why Bitcoin's Surge to $72K is a Sign [Source][Source][Source]

Bitcoin's meteoric rise to $72,000 sparked intense speculation, many in the community see this as a sign of Bitcoin reacting to macroeconomic factors rather than solely spot BTC ETF inflows.

The surge in Bitcoin's value is underpinned by persistent inflationary pressures, bolstered by fiscal stimulus measures, student debt forgiveness policies, and escalating global trade tensions.

Jamie Dimon's cautionary remarks on inflation, coupled with escalating trade tensions between the U.S. and China, have amplified investor interest in alternative assets like gold and Bitcoin.

💰 Frax Finance $250M USDe Allocation [Source][Source][Source]

Frax Finance is making a huge splash in decentralized finance (DeFi) with a $250 million USDe allocation to new liquidity pool.

The creation of an automated market operation (AMO) enables Frax Finance to mint new FRAX tokens backed by overcollateralized debt.

Ethena Labs' rapid ascent to over $2 billion in total value locked (TVL) underscores the growing demand for stablecoin-backed lending protocols.

The strategic partnership between Frax Finance and Ethena Labs is opening doors to innovation and is unlocking value in the DeFi ecosystem.

💳 1inch Network Crypto Debit Card [Source][Source]

The launch of 1inch Network's crypto debit card is a sign that the gab between traditional finance and decentralized finance (DeFi) is starting to blur. Developed in partnership with Mastercard and Baanx, the debit card offers users seamless access to crypto-to-fiat bridge functionality, enabling cash withdrawals and point-of-sale transactions at supported ATMs and locations.

The integration of crypto-to-fiat debit purchases streamlines the payment process, allowing users to retain custody of their crypto assets while seamlessly converting them for everyday expenses.

By leveraging Mastercard's leading technology and standards, the 1inch debit links the worlds of Web2 and Web3, offering users a seamless and secure payment experience.

🔑 $TNSR Governance Token [Source][Source][Source]

The Tensor Foundation, unveiled its governance token, TNSR, in a move to “foster community engagement and decentralized decision-making.” TNSR holders are now granted exclusive privileges, including fee discounts on Tensor transactions and the ability to propose and vote on governance matters.

With a total token supply of 1 billion, the foundation allocated 12.5% for the initial airdrop, reserving 55% for the community, while core contributors are slated to receive 27%. The remaining portion is earmarked for future fundraising efforts, investors, and advisors. Token holders have until October 5, 2024, to claim their tokens, signaling an opportunity for widespread participation and stakeholder involvement.

TNSR's utility extends beyond governance, with holders eligible for discounts on protocol fees and the ability to propose and vote on critical matters through Realms, a Solana-based platform facilitating decentralized autonomous organizations (DAOs). Moreover, TNSR facilitates payments for third-party security reviews, reinforcing the platform's commitment to ensuring robust security measures.

💡 Feature of the Day: 

⛏️ Bitcoin Mining Post-Halving [Source][Source]

As Bitcoin approaches its halving event, miners face the challenge of maintaining profitability amidst evolving market dynamics. The doubling of mining costs post-halving underscores the importance of a sustained rally in BTC prices to sustain mining operations and incentivize continued investment in infrastructure.

Historically, Bitcoin's price has surged following halving events, driven by supply-demand dynamics and investor sentiment. Despite initial concerns over mining profitability, the resilience of Bitcoin miners and the cyclical nature of market cycles have resulted in sustained growth and profitability over time.

As demand for Bitcoin continues to grow, driven by inflationary pressures and geopolitical uncertainties, miners remain poised to reap the rewards of a thriving ecosystem.

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🫨 What’s Buzzing?:

🌉 deBridge Points System Guide (Potential Airdrop) 🌉

What Is deBridge?

• A blockchain protocol enabling cross-chain transfers of assets securely.

• Utilizes a network of validators to verify transactions and ensure safety during transfers.

• Aims to become a standard for cross-chain composability, swaps, and bridging of various assets.

How To Qualify For An Airdrop?

• Visit debridge.finance and select "Bridge."

• Perform bridge swaps between different networks.

• Ensure diversity in on-chain transactions by bridging at least once between each different network.

• Higher transaction volume may improve chances of qualifying for potential airdrops.

Stay tuned for updates on deBridge's points campaign and read the whole guide at UseTheBitcoin’s latest article “deBridge Points System Guide (Potential Airdrop)” for a more detailed look into what’s happening and how you can get in on it!

😂 Crypto Meme of the Day: 

And that’s it for this today.

See you all for tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com