A BlackRock spokesperson confirmed the firm wasn’t directly involved in Archax and Ownera’s decision to tokenize shares of BlackRock’s ICS Treasury Fund on Hedera.
CoinPoker, a crypto betting app, has recently abolished all withdrawal fees on its platform, aligning itself with industry trends seen in online gambling sites like Rollbit. This strategic move is expected to enhance CoinPoker’s competitiveness and potentially attract more users over time, especially as it offers similar features to Rollbit and introduces unique propositions such … Continue reading "CoinPoker Adopts Zero Withdrawal Fees Trend"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="CoinPoker" decoding="async" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://cryptonews.com/news/crypto-betting-app-coinpoker-follows-rollbit-with-zero-withdrawal-fees-trend.htm" target="_blank" rel="noopener">CoinPoker</a>, a crypto betting app, has recently abolished all withdrawal fees on its platform, aligning itself with industry trends seen in online gambling sites like Rollbit.</span></p>
<p><span style="font-weight: 400;">This strategic move is expected to enhance CoinPoker’s competitiveness and potentially attract more users over time, especially as it offers similar features to Rollbit and introduces unique propositions such as poker games against human opponents.</span></p>
<p><span style="font-weight: 400;">The elimination of withdrawal fees, coupled with the recent success of gambling coins like Rollbit, could drive positive momentum for CoinPoker’s native CHP token.</span></p>
<p><span style="font-weight: 400;">The platform’s official announcement emphasized that only blockchain network fees will apply to withdrawals, highlighting a user-centric approach aimed at fostering growth and stability.</span></p>
<p><span style="font-weight: 400;">Previously, CoinPoker imposed nominal withdrawal fees to support site security and stability. However, advancements in security measures now allow the platform to waive these fees without compromising user experience or safety.</span></p>
<p><span style="font-weight: 400;">Currently ranked 90th globally in the poker category by SimilarWeb, CoinPoker has seen steady growth, rising 14 places between February and March. With its strong user experience and unique offerings, CoinPoker is poised to climb further in industry rankings.</span></p>
<p><span style="font-weight: 400;">The platform’s Crypto Series of Poker tournament, featuring a guaranteed prize pool of $1 million, has garnered significant attention, attracting renowned players like Tony G. who recently won over $300,000.</span></p>
<p><span style="font-weight: 400;">As CoinPoker solidifies its position as a leading destination for crypto-friendly poker, it stands to gain market share from competitors like Rollbit. This potential growth trajectory could also bolster the value of CoinPoker’s CHP token.</span></p>
<p><span style="font-weight: 400;">Despite recent declines, CHP has shown resilience, prompting investor interest following the withdrawal fee announcement. With consistent platform expansion, CHP may mirror the success of Rollbit’s RLB token, which has surged by 670% over the past year.</span></p>
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As the Dollar Index (DXY) experiences a recent pullback, crypto traders are banking on continued dollar weakness to fuel a resurgence in Bitcoin (BTC), although some banks hold a contrary view. Recent trends have seen Bitcoin trading within the $60,000 to $70,000 range since mid-March, with the dollar’s bounce on the DXY contributing to this … Continue reading "Bitcoin Bulls Bet on Weaker Dollar for Rally Extension"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Bulls" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">As the Dollar Index (DXY) experiences a recent pullback, crypto traders are banking on continued dollar weakness to <a href="https://www.youtube.com/watch?v=p6NmDeYvcNk" target="_blank" rel="noopener">fuel</a> a resurgence in Bitcoin (BTC), although some banks hold a contrary view.</span></p>
<p><span style="font-weight: 400;">Recent trends have seen Bitcoin trading within the $60,000 to $70,000 range since mid-March, with the dollar’s bounce on the DXY contributing to this stabilization. However, a reversal in the DXY’s trajectory, coupled with expectations of a weaker dollar, has reignited optimism among Bitcoin bulls.</span></p>
<p><span style="font-weight: 400;">Mike Alfred, a value investor and managing partner at Alpine Fox LP, anticipates a turnaround in the DXY, projecting a move back towards 102-103, which he believes will coincide with a bitcoin rally towards $90,000 in the short term. While some banks foresee continued dollar strength, others see signs of a potential peak, with projections ranging between 107 and 110 for the DXY.</span></p>
<p><span style="font-weight: 400;">Societe Generale’s Cross Asset Research Team and Scotiabank are among those forecasting a resilient dollar, citing expectations of a prolonged hold on interest rates by the Federal Reserve. Additionally, the possibility of a U.S.-China trade war escalation, with proposed tariff hikes on Chinese imports, could further bolster the dollar, according to Barclays.</span></p>
<p><span style="font-weight: 400;">Despite divergent opinions, crypto traders remain focused on the potential impact of a weaker dollar, which historically correlates with increased risk-taking and a favorable environment for Bitcoin and the broader crypto market. As such, traders are closely monitoring shifts in the DXY and geopolitical developments that could influence the dollar’s trajectory in the coming weeks.</span></p>
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This Friday, Deribit, a leading derivatives exchange, braces for a substantial expiration of cryptocurrency options, totaling over $9.4 billion, with bitcoin options comprising the majority at $6.35 billion. The upcoming expiry has sparked notable activity in the options market, particularly for Bitcoin, where the put-call ratio stands at 0.68, signaling an increased interest in put … Continue reading "Deribit Set to Expire $6.3 Billion in Bitcoin Options This Friday"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">This Friday, Deribit, a leading derivatives exchange, braces for a substantial <a href="https://coingape.com/how-to-trade-this-week-as-9-4-billion-in-crypto-options-set-to-expire/" target="_blank" rel="noopener">expiration</a> of cryptocurrency options, totaling over $9.4 billion, with bitcoin options comprising the majority at $6.35 billion.</span></p>
<p><span style="font-weight: 400;">The upcoming expiry has sparked notable activity in the options market, particularly for Bitcoin, where the put-call ratio stands at 0.68, signaling an increased interest in put options compared to calls. In contrast, ether options, valued at $3.08 billion, exhibit a lower put-call ratio of 0.49, suggesting a more bullish sentiment among traders.</span></p>
<p><span style="font-weight: 400;">Amidst this activity, attention is drawn to the largest open interest in year-end expiry calls, notably at a $100,000 strike price for Bitcoin. This optimistic outlook reflects a belief among derivatives players in Bitcoin’s potential to surpass this milestone by December.</span></p>
<p><span style="font-weight: 400;">QCP Capital analysts interpret this surge in options activity as investors positioning themselves for a post-halving resurgence in bitcoin’s value, anticipating a breakout from its two-month consolidation period.</span></p>
<p><span style="font-weight: 400;">Standard Chartered’s recent analyst note aligns with this sentiment, projecting a year-end target price of $150,000 for bitcoin and $8,000 for ether.</span></p>
<p><span style="font-weight: 400;">Options, as derivative contracts, offer traders the right, but not the obligation, to buy or sell the underlying asset at a predetermined price within a specified timeframe. The distribution of put and call options is often used to gauge market sentiment, with put options typically indicating bearishness and call options suggesting bullishness.</span></p>
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S&P Global Ratings has indicated that the proposed regulations in the United States may lead to a shift in the stablecoin landscape, potentially undermining the dominance of Tether’s USDT. The regulatory framework, if approved, could grant banks a competitive advantage by capping stablecoin issuance for non-banking institutions at $10 billion, according to S&P’s report released … Continue reading "S&P: Proposed U.S. Rules Could Impact Tether’s Stablecoin Dominance"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Tether" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">S&P Global Ratings has indicated that the proposed regulations in the United States may lead to a <a href="https://www.spglobal.com/ratings/en/research/articles/240423-your-three-minutes-in-digital-assets-new-rules-could-boost-u-s-stablecoin-adoption-13083275" target="_blank" rel="noopener">shift in the stablecoin landscape</a>, potentially undermining the dominance of Tether’s USDT.</span></p>
<p><span style="font-weight: 400;">The regulatory framework, if approved, could grant banks a competitive advantage by capping stablecoin issuance for non-banking institutions at $10 billion, according to S&P’s report released on Wednesday.</span></p>
<p><span style="font-weight: 400;">The prospect of regulatory clarity is expected to incentivize traditional financial institutions to enter the stablecoin market, a development that could erode Tether’s market share, S&P stated.</span></p>
<p><span style="font-weight: 400;">The proposed stablecoin bill, introduced by U.S. Senators Cynthia Lummis and Kirsten Gillibrand, aims to establish guidelines for stablecoin operations within the country. Stablecoins, a form of cryptocurrency tied to fiat currencies such as the U.S. dollar, hold significant importance within crypto markets.</span></p>
<p><span style="font-weight: 400;">While the U.S. dollar remains the preferred peg for stablecoins, the absence of specific U.S. regulations for most stablecoin issuers may change with the introduction of the Lummis-Gillibrand Payment Stablecoin Act.</span></p>
<p><span style="font-weight: 400;">Analyst Andrew O’Neill highlighted that the passage of the bill could expedite institutional blockchain innovation, particularly in areas like tokenization and digital bond issuances involving on-chain payments. This could create opportunities for banks as stablecoin issuers and potentially reduce Tether’s dominance in the global stablecoin market.</span></p>
<p><span style="font-weight: 400;">S&P emphasized that Tether’s USDT, with a market capitalization of $110 billion, faces potential challenges under the proposed legislation, as it is issued by a non-U.S. entity and would not qualify as a permitted payment stablecoin. Consequently, U.S. entities may face restrictions on holding or transacting in USDT, potentially dampening its demand.</span></p>
<p><span style="font-weight: 400;">Additionally, the removal of the SEC’s requirement for custodians to report digital assets on their balance sheet could spur the emergence of new digital asset custody providers, fostering greater competition in the market.</span></p>
<p><span style="font-weight: 400;">Despite Tether’s substantial market presence, S&P has previously criticized USDT for its perceived shortcomings in fulfilling its primary function of maintaining a stable value.</span></p>
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Block, the parent company of Square and Cash App, unveiled a new initiative today enabling merchants utilizing Square’s services to convert a portion of their daily sales into Bitcoin. Rolling out initially in the U.S., the feature allows Square sellers to transfer 1-10% of their daily sales to their personal Cash App accounts, where the … Continue reading "Block Enables Square Merchants to Convert Sales to Bitcoin"
<figure><img width="696" height="462" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Stock" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-300x199.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://www.youtube.com/watch?v=uEBem1s9Dgo" target="_blank" rel="noopener">Block</a>, the parent company of Square and Cash App, unveiled a new initiative today enabling merchants utilizing Square’s services to convert a portion of their daily sales into Bitcoin.</span></p>
<p><span style="font-weight: 400;">Rolling out initially in the U.S., the feature allows Square sellers to transfer 1-10% of their daily sales to their personal Cash App accounts, where the amount will automatically convert into Bitcoin by the day’s end. Merchants will receive confirmation of the conversion once the transaction is finalized.</span></p>
<p><span style="font-weight: 400;">This bitcoin conversion feature will gradually become available to all sole proprietors or single-member LLCs in the coming months. Block will levy a 1% fee on every conversion made by the seller. Furthermore, merchants have the flexibility to send Bitcoin to other wallets or sell them at their convenience directly from their Cash App accounts.</span></p>
<p><span style="font-weight: 400;">In a statement, Block emphasized its belief that Bitcoin serves as a tool for economic empowerment, offering individuals, including business owners, access to a global monetary system. The company highlighted that many Square sellers have expressed interest in bitcoin, viewing it as a means for long-term savings and diversification of their business assets.</span></p>
<p><span style="font-weight: 400;">When questioned about sellers’ conversion habits and average returns, Block stated that it had recently piloted the Bitcoin conversion feature with a select group of merchants and lacked definitive data on this aspect.</span></p>
<p><span style="font-weight: 400;">Block has prioritized simplifying the process of purchasing Bitcoin across its platforms. For instance, the company integrated its self-custodial wallet Bitkey with Cash App and Coinbase, facilitating seamless Bitcoin trading for users.</span></p>
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Bitwise Chief Investment Officer Matt Hougan recently shared insights in an investor note, envisioning a significant drop of 50% in Bitcoin’s volatility alongside increasing institutional involvement leading up to the 2028 halving. Hougan’s analysis points to Bitcoin’s historical patterns, notably its surge to a new all-time high just weeks before the 2024 halving. He anticipates … Continue reading "Bitwise CIO Forecasts 50% Drop in Bitcoin Volatility with Growing Institutional Adoption"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitwise Chief Investment Officer Matt Hougan recently shared insights in an investor note, envisioning a significant drop of 50% in Bitcoin’s volatility alongside increasing institutional involvement leading up to the 2028 halving.</span></p>
<p><span style="font-weight: 400;">Hougan’s analysis points to Bitcoin’s historical patterns, notably its surge to a new all-time high just weeks before the 2024 halving. He anticipates this trend to persist post-halving, propelling Bitcoin’s value upward, much like its ascent from a modest $13 valuation during its initial halving in 2012.</span></p>
<p><span style="font-weight: 400;">Reaffirming previous forecasts, Hougan remains confident in Bitcoin’s trajectory toward a $250,000 valuation in the years ahead.</span></p>
<p><span style="font-weight: 400;">He attributes this sustained growth to Bitcoin’s growing recognition within the financial landscape, particularly following the debut of spot Bitcoin ETFs, which have witnessed remarkable performance since their launch.</span></p>
<h2><span style="font-weight: 400;">Institutional Impact</span></h2>
<p><span style="font-weight: 400;">Highlighting the transformative effect of spot <a href="https://cryptocurrencynews.com/bitcoin-etfs-see-continued-inflows-despite-pre-halving-turbulence/">Bitcoin ETFs</a>, Hougan underscores their role in attracting a fresh wave of institutional investors. These entities, including financial advisors and large financial institutions, are known for their disciplined approach to trading, which contrasts with the speculative behavior of retail investors that has historically characterized Bitcoin markets.</span></p>
<p><span style="font-weight: 400;">Hougan predicts that the influx of institutional capital through Bitcoin ETFs will contribute significantly to the projected 50% reduction in Bitcoin’s volatility by the next halving.</span></p>
<p><span style="font-weight: 400;">He envisions a future where Bitcoin becomes a standard component in diversified investment portfolios, potentially constituting 5% or more of allocations. This projection reflects a growing confidence in Bitcoin’s maturation and reduced price fluctuations.</span></p>
<h2><span style="font-weight: 400;">$200 Billion AUM</span></h2>
<p><span style="font-weight: 400;">Hougan anticipates that institutional investments in Bitcoin ETFs could surpass $200 billion, driven by increased market accessibility and deeper financial integration. This influx of capital is expected to enhance market stability and cement Bitcoin’s status as a mainstream financial asset.</span></p>
<p><span style="font-weight: 400;">While acknowledging the inherent risks associated with cryptocurrency investments, including market volatility and regulatory uncertainties, Hougan paints a picture of a future where Bitcoin achieves widespread institutional adoption and emerges as a staple in investment portfolios, fundamentally reshaping market dynamics by the <a href="https://cointelegraph.com/news/bitcoin-price-prediction-next-halving-2028" target="_blank" rel="noopener">2028 halving</a>.</span></p>
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Hong Kong is gearing up to debut its spot bitcoin and ether exchange traded funds (ETFs) on April 30, as announced by three asset managers on Wednesday. This move positions Hong Kong as a trailblazer in Asia, becoming the first in the region to embrace cryptocurrency products as mainstream investment tools. The regulatory green light … Continue reading "Hong Kong’s Spot Crypto ETFs Set to Commence Trading Next Week"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Crypto ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Hong Kong is gearing up to debut its <a href="https://cryptocurrencynews.com/spot-bitcoin-etf-trading-volume-triples-to-111-billion-in-march/">spot bitcoin</a> and ether exchange traded funds (ETFs) on April 30, as announced by three asset managers on Wednesday.</span></p>
<p><span style="font-weight: 400;">This move positions Hong Kong as a trailblazer in Asia, becoming the first in the region to embrace cryptocurrency products as mainstream investment tools. The regulatory green light from the Securities and Futures Commission, as indicated on the Hong Kong markets watchdog’s website, underscores the city’s commitment to fostering a conducive environment for digital asset investment.</span></p>
<p><span style="font-weight: 400;">While mainland China maintains a ban on cryptocurrency, Hong Kong is actively positioning itself as a global digital asset hub, a strategic move aimed at enhancing its status as a financial epicenter. Over the past decade, Hong Kong has seen the presence of several leading international crypto exchanges and funds, although regulatory requirements have sometimes led to fluctuations in their operations.</span></p>
<p><span style="font-weight: 400;">The approval of these new products in Hong Kong follows closely on the heels of the United States’ introduction of its inaugural ETFs tracking spot bitcoin just three months ago. The U.S. ETFs have already witnessed significant traction, with approximately $12 billion in net inflows, contributing to a notable surge in bitcoin’s value earlier this year.crypto </span></p>
<p><span style="font-weight: 400;">China Asset Management, Harvest Fund Management, and Bosera Asset Management, alongside local cryptocurrency firm <a href="https://www.hashkey.com/" target="_blank" rel="noopener">Hashkey</a>, are spearheading the launch of these ETFs in Hong Kong, with a target date of April 30. Against the backdrop of bitcoin’s impressive 50% year-to-date appreciation and its record-breaking high of $73,803 in March, the cryptocurrency was trading around $65,000 on Wednesday.</span></p>
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Jack Dorsey’s company Block(NYSE:SQ), formerly known as Square, has broadened its Bitcoin mining ambitions by transitioning from chip design to developing a comprehensive mining system. In a recent blog post, Block revealed its achievement in creating a standalone three-nanometer Bitcoin mining chip and announced collaboration with a prominent global semiconductor foundry to finalize the chip’s … Continue reading "Block Expands Bitcoin Mining with 3nm Chip"
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<p>Jack Dorsey’s company Block(NYSE:SQ), formerly known as Square, has broadened its <a href="https://cryptonews.com/news/jack-dorsey-block-bitcoin-mining-ambitions-develops-3nm-mining-chip.htm" target="_blank" rel="noopener">Bitcoin</a> mining ambitions by transitioning from chip design to developing a comprehensive mining system.</p>
<p>In a recent blog post, Block revealed its achievement in creating a standalone three-nanometer Bitcoin mining chip and announced collaboration with a prominent global semiconductor foundry to finalize the chip’s design.</p>
<p>Beyond chip development, Block plans to extend its efforts to include system design, aiming to address challenges faced by Bitcoin miners and decentralize hardware supply and hashrate distribution.</p>
<p>The project seeks to overcome obstacles such as limited availability and high costs of mining rigs, while improving user experience and operational reliability.</p>
<p>Although specific details about the mining system are limited, Dorsey had previously hinted at a “Bitcoin mining system based on custom silicon” and emphasized the importance of vertical integration and diversification in silicon design.</p>
<p>This development follows the recent Bitcoin halving, which reduced new Bitcoin issuance. Dorsey’s vision extends beyond Bitcoin generation, as Block’s venture arm supports Gridless, a company operating Bitcoin mines powered by renewable energy in Kenya, Malawi, and Zambia.</p>
<p>Gridless utilizes innovative methods, such as solar power and geothermal energy, to power its operations and provide electricity to rural areas. With six mines across multiple countries, Gridless demonstrates the potential for Bitcoin mining to drive renewable energy adoption and incentivize sustainable development.</p>
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Following a brief period of net outflows preceding Bitcoin’s block-reward halving, spot bitcoin exchange-traded funds (ETFs) in the United States have returned to net inflows, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) leading the way. On Monday, spot Bitcoin ETFs collectively experienced net inflows exceeding $62 million, with FBTC securing the largest single-day net inflow … Continue reading "Bitcoin ETFs See Continued Inflows Despite Pre-Halving Turbulence"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Following a brief period of net outflows preceding Bitcoin’s block-reward halving, spot bitcoin exchange-traded funds (ETFs) in the United States have returned to <a href="https://www.youtube.com/watch?v=BvhD5C0DqBQ" target="_blank" rel="noopener">net inflows</a>, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) leading the way.</span></p>
<p><span style="font-weight: 400;">On Monday, spot Bitcoin ETFs collectively experienced net inflows exceeding $62 million, with FBTC securing the largest single-day net inflow of $34.83 million. The ARK 21Shares Bitcoin ETF and The iShares Bitcoin Trust also saw substantial net inflows of over $22.5 million and $19.65 million, respectively.</span></p>
<p><span style="font-weight: 400;">In contrast, the Grayscale Bitcoin Trust witnessed the largest single-day net outflow, with nearly $35 million exiting the product. However, since their inception, U.S.-traded spot bitcoin ETFs have amassed a cumulative total net inflow of $12.38 billion, indicating continued investor interest.</span></p>
<p><span style="font-weight: 400;">BlackRock’s IBIT ETF, known for its consistent inflows, extended its streak for the 70th consecutive day on Monday, solidifying its position among the top 10 ETFs with the longest streaks of daily inflows. IBIT currently commands a market share of nearly 54% among spot bitcoin ETFs.</span></p>
<p><span style="font-weight: 400;">Despite recent fluctuations, the price of Bitcoin remains resilient, hovering above $66,200 as reported by The Block’s Bitcoin Price Page. This stability in bitcoin’s price underscores ongoing investor confidence in the digital asset and its associated investment vehicles.</span></p>
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Bitcoin’s recent halving, completed on April 19, may not immediately impact market dynamics, with analysts suggesting a potential two-month wait for significant effects. Despite an 8% increase in bitcoin’s spot price since the halving, experts anticipate a delay in supply and demand adjustments. Analysts at QCP Capital suggest that historical patterns indicate a delay of … Continue reading "Analysts: Bitcoin Bulls Anticipate Halving Impact in Two Months or More"
<figure><img width="696" height="462" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Stock" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-300x199.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitcoin’s recent halving, completed on April 19, may not immediately <a href="https://www.tradingview.com/news/newsbtc:02131044e094b:0-bitcoin-halving-anticipating-price-impact-miner-challenges-and-long-term-outlook/" target="_blank" rel="noopener">impact market dynamics</a>, with analysts suggesting a potential two-month wait for significant effects. Despite an 8% increase in bitcoin’s spot price since the halving, experts anticipate a delay in supply and demand adjustments.</span></p>
<p><span style="font-weight: 400;">Analysts at QCP Capital suggest that historical patterns indicate a delay of around two to three months before the halving’s supply constraints translate into notable price movements. This suggests that bitcoin bulls may have additional time to build larger long positions.</span></p>
<p><span style="font-weight: 400;">Bitfinex analysts highlight the post-halving reduction in bitcoin supply issuance, which could stabilize prices and potentially lead to further appreciation. However, they caution that geopolitical turmoil, particularly in the Middle East, could impact Bitcoin’s long-term valuation.</span></p>
<p><span style="font-weight: 400;">Additionally, the Bitfinex Alpha report notes potential stabilization in demand from spot bitcoin ETFs, which have been a significant driver of market activity. However, recent outflows from ETFs suggest a possible slowdown in demand.</span></p>
<p><span style="font-weight: 400;">Meanwhile, QCP Capital analysts anticipate a short squeeze in the altcoin and memecoin market in the short term. Persistent negative funding in these markets, coupled with potential fluctuations in demand, could lead to increased volatility.</span></p>
<p><span style="font-weight: 400;">While the overall memecoin market has seen a slight uptick in market cap, top memecoins like dogecoin, shiba inu, and dogwifhat have experienced minor declines in the past 24 hours, reflecting ongoing market fluctuations.</span></p>
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Binance, one of the world’s largest cryptocurrency exchanges, is embroiled in a new legal battle in Canada as a class-action lawsuit alleges violations of securities laws. Ontario’s Superior Court of Justice published a certification motion for the lawsuit on April 19, reigniting legal scrutiny against the exchange. The lawsuit accuses Binance of selling cryptocurrency derivative … Continue reading "Binance Faces Canadian Lawsuit Over Securities Law Allegations"
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Binance" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Binance, one of the world’s largest cryptocurrency exchanges, is embroiled in a new legal battle in Canada as a <a href="https://dig.watch/updates/cryptocurrency-exchange-binance-faces-class-action-lawsuit-in-canada" target="_blank" rel="noopener">class-action lawsuit</a> alleges violations of securities laws. Ontario’s Superior Court of Justice published a certification motion for the lawsuit on April 19, reigniting legal scrutiny against the exchange.</span></p>
<p><span style="font-weight: 400;">The lawsuit accuses Binance of selling cryptocurrency derivative products to retail investors without proper registration, in violation of Ontario Securities Act (OSA) and federal laws. Plaintiffs represented by Christopher Lochan and Jeremy Leeder seek damages and recissions of unlawful derivative trades for Canadian Binance users, numbering in the tens of thousands.</span></p>
<p><span style="font-weight: 400;">This legal action comes after Binance announced plans to cease operations in Ontario in response to regulatory warnings from the Ontario Securities Commission (OSC) in 2023. Despite this announcement, the OSC’s investigation into Binance remains ongoing, highlighting continued regulatory scrutiny.</span></p>
<p><span style="font-weight: 400;">The lawsuit further tarnishes Binance’s reputation, already marred by previous controversies, including former CEO Changpeng Zhao’s guilty plea to US anti-money laundering violations in 2021. Although current CEO Richard Teng has made efforts to steer Binance towards regulatory compliance, including securing a Dubai crypto license, the exchange’s past regulatory issues continue to overshadow its progress.</span></p>
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In the wake of the memecoin frenzy, over $25 million invested in pre-sold Solana memecoins has been left stranded, with more than half of the top projects abandoned within just one month. ZachXBT’s investigation identified 12 Solana memecoin projects that have been deserted by their founders, leaving investors in the lurch. Solana Co-Founder Anatoly Yakovenko … Continue reading "Over 50% of Pre-Sold Solana Memecoins Abandoned Post $25M Raise"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Solana" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In the wake of the memecoin frenzy, over $25 million invested in pre-sold Solana memecoins has been <a href="https://www.youtube.com/watch?v=LrQY_5iynTg" target="_blank" rel="noopener">left stranded</a>, with more than half of the top projects abandoned within just one month.</span></p>
<p><span style="font-weight: 400;">ZachXBT’s investigation identified 12 Solana memecoin projects that have been deserted by their founders, leaving investors in the lurch. Solana Co-Founder Anatoly Yakovenko expressed skepticism towards the trend, stating, “Pre-selling a meme doesn’t make any sense to begin with.” Yakovenko previously cautioned against investing in memecoin pre-sales, highlighting the riskiness of such endeavors.</span></p>
<p><span style="font-weight: 400;">Of the 22 projects initially scrutinized, ZachXBT revealed that 12 have already been deserted within a month. Notable among these are LIKE, MOONKE, FROG, TEMPLE, and SORRY, which collectively raised over $2 million. Other projects, including those like @Jared_eth, raised substantial funds without even launching a token, with one account flagged as compromised by the web3 security platform Pocket Universe.</span></p>
<p><span style="font-weight: 400;">The memecoin frenzy has now shifted to the Coinbase-backed Base blockchain, indicating a lack of lessons learned from the Solana debacle, according to ZachXBT.</span></p>
<p><span style="font-weight: 400;">Meanwhile, the price of SOL, Solana’s native token, has witnessed a significant decline since the memecoin boom. Although SOL surged to over $200 during the peak of the frenzy, largely fueled by memecoin speculation, it has since plummeted to $154 as of the latest data. This represents a 23% decrease, despite SOL having already bounced back approximately 30% from its recent low of $117 on April 13.</span></p>
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As scrutiny over the misuse of Tether’s USDT stablecoin intensifies, the company pledges to take decisive action against addresses linked to sanctions violations. Tether, the issuer of the popular USDT stablecoin, has announced its commitment to freezing any addresses associated with sanctioned entities. This proactive stance follows reports indicating the exploitation of USDT tokens by … Continue reading "Tether Vows to Freeze Sanction-Linked Addresses Amid USDT Scrutiny"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Tether Coin" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">As scrutiny over the misuse of <a href="https://www.youtube.com/watch?v=KWaJa7RUDEU" target="_blank" rel="noopener">Tether’s USDT</a> stablecoin intensifies, the company pledges to take decisive action against addresses linked to sanctions violations.</span></p>
<p><span style="font-weight: 400;">Tether, the issuer of the popular USDT stablecoin, has announced its commitment to freezing any addresses associated with sanctioned entities. This proactive stance follows reports indicating the exploitation of USDT tokens by certain state actors to evade US sanctions.</span></p>
<p><span style="font-weight: 400;">A spokesperson for Tether stated, “Tether respects the Office of Foreign Assets Control (OFAC) SDN list and is committed to working to ensure sanction addresses are frozen promptly.”</span></p>
<p><span style="font-weight: 400;">In the past year, Tether has actively frozen addresses holding substantial amounts of its digital assets involved in illicit activities. For example, the company froze 32 addresses containing $873,118.34 linked to unlawful activities in Israel and Ukraine.</span></p>
<p><span style="font-weight: 400;">Tether’s CEO, Paolo Ardoino, emphasized that these actions underscore the company’s dedication to establishing robust safety standards within the emerging cryptocurrency industry.</span></p>
<p><span style="font-weight: 400;">Despite Tether’s compliance efforts, recent reports have highlighted ongoing exploitation of the USDT stablecoin by terrorist groups and sanctioned nations seeking to bypass restrictions. Venezuela’s state-owned oil giant, PDVSA, reportedly utilized USDT for crude oil and fuel exports amid renewed US sanctions. Additionally, Russia has increasingly turned to alternative payment avenues, including Tether’s USDT stablecoin, to evade economic sanctions, according to US Treasury Deputy Secretary Adewale Adeyemo.</span></p>
<p><span style="font-weight: 400;">A United Nations report also revealed the prevalence of cryptocurrency-based money laundering, with Tether’s USDT on the TRON blockchain being a favored choice, particularly within illegal online gambling platforms.</span></p>
<p><span style="font-weight: 400;">In response to these developments, US Senator Elizabeth Warren has advocated for stringent regulatory measures, emphasizing the importance of including stablecoin issuers and other decentralized finance (DeFi) intermediaries under anti-money laundering (AML) and combating the financing of terrorism (CFT) requirements in any proposed stablecoin regulations. Excluding such entities, Warren argues, could enable bad actors to exploit the growing crypto trading activities facilitated by the legislation.</span></p>
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Turnkey, a company specializing in building wallet infrastructure for blockchain developers, announced a successful $15 million Series A funding round led by Lightspeed Faction and Galaxy Ventures. Founded by former Coinbase (NASDAQ:COIN) employees who contributed to the development of the U.S. crypto exchange’s custody service, Turnkey aims to assist application developers in constructing user-friendly blockchain … Continue reading "Turnkey Raises $15M Led by Lightspeed Faction & Galaxy Ventures"
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149369111-e1713895199623.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="turnkey" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://finance.yahoo.com/news/galaxy-lightspeed-faction-lead-15m-130000321.html" target="_blank" rel="noopener">Turnkey</a>, a company specializing in building wallet infrastructure for blockchain developers, announced a successful $15 million Series A funding round led by Lightspeed Faction and Galaxy Ventures.</span></p>
<p><span style="font-weight: 400;">Founded by former Coinbase (NASDAQ:COIN) employees who contributed to the development of the U.S. crypto exchange’s custody service, Turnkey aims to assist application developers in constructing user-friendly blockchain wallets. The funding round, disclosed on Tuesday, saw participation from notable investors including Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures. This round, finalized last October, follows a $7.5 million seed round in 2022.</span></p>
<p><span style="font-weight: 400;">CEO Bryce Ferguson explained, “At its simplest level, Turnkey provides secure, flexible, and scalable wallet infrastructure, offering developers a comprehensive toolkit for wallet-related tasks and cryptographic transactions.”</span></p>
<p><span style="font-weight: 400;">Ferguson highlighted the inspiration behind Turnkey’s inception, stemming from the realization at Coinbase that many crypto custodians treated cryptocurrency solely as a “buy-and-hold investment,” lacking the flexibility for users to actively utilize their assets. Turnkey’s objective is to empower custodians with tools enabling end-users to exercise greater control over their assets securely.</span></p>
<p><span style="font-weight: 400;">Released to the public in August, Turnkey’s product suite caters to various needs, serving as the backbone for applications requiring wallets and transaction signing, both for individual users and businesses. Notable clients include Alchemy, utilizing Turnkey to power its “wallet-as-a-service” offering, and enterprise-focused wallets like Mural, facilitating user-friendly invoicing and global payments.</span></p>
<p><span style="font-weight: 400;">Turnkey also caters to financial firms, with trading terminals embedding Turnkey’s wallets for transactional purposes. Additionally, individual users leverage Turnkey for broad transaction signing.</span></p>
<p><span style="font-weight: 400;">Ferguson emphasized Turnkey’s comprehensive approach, stating, “We built all of the wallet infrastructure from the ground up,” highlighting the platform’s ability to generate cryptographic key pairs and provide extensive tooling for accessing and managing these keys.</span></p>
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Kenya is preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by Nigerian authorities for alleged involvement in tax evasion and a dramatic escape from custody. Anjarwalla was apprehended in Kenya over the weekend in a joint operation involving several agencies, including the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL, following weeks … Continue reading "Kenya to Extradite Binance Executive Linked to Tax Evasion to Nigeria"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Binance" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Kenya is preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by Nigerian authorities for alleged involvement in tax evasion and a dramatic escape from custody. Anjarwalla was <a href="https://punchng.com/kenyan-police-arrest-binance-executive-who-escaped-from-nigeria/" target="_blank" rel="noopener">apprehended</a> in Kenya over the weekend in a joint operation involving several agencies, including the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL, following weeks of search efforts. He is expected to be extradited to Nigeria within the week to face trial on tax evasion charges, with the possibility of additional charges related to illegal passport use and escape from custody.</span></p>
<p><span style="font-weight: 400;">Anjarwalla, Binance Africa’s regional manager, along with another executive, Tigran Gambrayan, encountered legal issues in Nigeria in February due to their association with the crypto exchange. Anjarwalla evaded custody in March using a Kenyan passport and had been evading authorities until his recent capture.</span></p>
<p><span style="font-weight: 400;">This development adds to the ongoing tension between Binance and Nigerian authorities. Gambrayan, who has been detained since February, is currently facing trial for alleged tax evasion. However, the proceedings have faced delays, with the court adjourning the case twice due to issues with formally serving charges to the exchange. Binance CEO Richard Teng has expressed willingness to cooperate with Nigerian authorities, but specific efforts to secure the release of the detained executives remain undisclosed.</span></p>
<p><span style="font-weight: 400;">Similarly, Gambrayan’Kenya to Extradite Binance Executive Linked to Tax Evasion to Nigeria attempts to secure bail have encountered obstacles, with a federal high court in Abuja postponing his bail application hearing. He is presently held at the Kuje Correctional Center pending further legal proceedings.</span></p>
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Welcome to “Epoch V” of Bitcoin. The fourth successful halving of Bitcoin occurred on April 20, marking a programmed reduction in the amount of new bitcoin entering circulation through mining. As celebrations ensue worldwide, attention turns to what lies ahead. Coinciding with the halving was the launch of Runes, a protocol facilitating the creation of … Continue reading "Bitcoin Halving Sparks Layer 2 Surge"
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/102-e1713820569688.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p>Welcome to “Epoch V” of <a href="https://www.coindesk.com/consensus-magazine/2024/04/22/how-the-bitcoin-halving-will-drive-action-to-layer-2s/?_gl=1*179lfjw*_up*MQ..*_ga*MTExNTQzNTEyNS4xNzEzODIwMTgw*_ga_VM3STRYVN8*MTcxMzgyMDE3OS4xLjAuMTcxMzgyMDE3OS4wLjAuMTkxMzU0NjY2Mw.." target="_blank" rel="noopener">Bitcoin.</a> The fourth successful halving of Bitcoin occurred on April 20, marking a programmed reduction in the amount of new bitcoin entering circulation through mining. As celebrations ensue worldwide, attention turns to what lies ahead.</p>
<p>Coinciding with the halving was the launch of Runes, a protocol facilitating the creation of meme coins on Bitcoin. This launch saw hundreds of tokens introduced, contributing over $80 million in fees to bitcoin miners. This surge in trading activity has driven transaction costs on Bitcoin to over $70 on average, a staggering 1,395.8% increase over the trailing 30-day average, according to TokenTerminal.</p>
<p>Some foresee “Epoch V,” leading up to the next halving in 2028, as the period when Bitcoin layer 2 solutions like the Lightning Network will gain traction. Bitcoin fees hit an all-time high of $128 on April 20, prompting many to explore alternative solutions. Bitcoin Core developer Ava Chow stated, “High fee environments will prompt people to look into them,” referring to Lightning and other layer 2 options.</p>
<p>A recent Messari report emphasized the necessity of layer-2 solutions for Bitcoin amidst rising on-chain activity, signaling a shift from Bitcoin as merely “digital gold” to a platform for innovation.</p>
<p>The launch of the Ordinals protocol last year, enabling new data storage methods on Bitcoin’s smallest units (satoshis), has catalyzed this shift. BitVM allows off-chain computation, Babylon facilitates staking and earning yield on BTC, while layer 2s like Stacks and Merlin host decentralized apps and meme coins.</p>
<p>Post-halving, tokens associated with Bitcoin layer 2s have outperformed BTC. For instance, Elastos rose 11%, SatoshiVM climbed 5%, and Stacks gained nearly 20% to $2.87, partly driven by the anticipated Nakamoto upgrade.</p>
<p>While market dynamics may drive action to Bitcoin’s secondary layers, challenges persist. Higher BTC fees may price out users with low balances from platforms like Lightning, necessitating workarounds such as custodial services. Concerns arise over the erosion of sovereignty and anonymity with custodial Lightning solutions.</p>
<p>This landscape reflects the legacy of the Blocksize Wars, where the decision to prioritize layer 2 scaling over block size increases set Bitcoin’s current trajectory.</p>
<p>As Chow remarks, the choice between block size and transaction size adjustments represents a fundamental divide in Bitcoin’s scaling debate, shaping its evolution to date.</p>
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In a bid to prevent the illicit use of cryptocurrency for money laundering, Thailand’s Securities and Exchange Commission (SEC) announced plans to block local access to unauthorized crypto platforms. Investors are urged to withdraw funds from such platforms as authorities move to restrict their operations. Following a meeting with a government committee on technology-related crimes, … Continue reading "Thailand to Block Unauthorized Crypto Platforms for Local Users"
<figure><img width="695" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Thailand Crypto" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto.jpg 695w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In a bid to <a href="https://www.youtube.com/watch?v=Rv4tScdz4CM" target="_blank" rel="noopener">prevent</a> the illicit use of cryptocurrency for money laundering, Thailand’s Securities and Exchange Commission (SEC) announced plans to block local access to unauthorized crypto platforms. Investors are urged to withdraw funds from such platforms as authorities move to restrict their operations.</span></p>
<p><span style="font-weight: 400;">Following a meeting with a government committee on technology-related crimes, the SEC was tasked with identifying and submitting information on unauthorized digital asset service providers to the Ministry of Digital Economy and Society. Once approved by the courts, access to these platforms will be prohibited.</span></p>
<p><span style="font-weight: 400;">While specific criteria for disqualifying platforms were not disclosed, the SEC provided a verification website to help investors assess legitimacy. Blocking access aligns with efforts to combat criminal activity, drawing parallels with similar actions taken in India and the Philippines.</span></p>
<p><span style="font-weight: 400;">Previously, the SEC initiated legal proceedings against unauthorized exchanges of Binance and Bybit. The agency emphasizes the risks associated with unregulated operators, highlighting the lack of legal protection and the potential for fraud.</span></p>
<p><span style="font-weight: 400;">This crackdown follows recent crypto-friendly measures by Thai authorities, including the extension of VAT exemption on crypto trading gains and permission for local institutions to invest in U.S. spot bitcoin exchange-traded funds.</span></p>
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The total supply of USD-pegged stablecoins has soared to $165 billion, reaching its highest level in almost two years as new tokens flood the market, intensifying competition. Ethena’s USDe stablecoin, with a market cap of around $2.4 billion, has contributed to this growth, stabilizing the market at its current level. This milestone, achieved last Thursday, … Continue reading "Stablecoin Supply Surges to Near Two-Year High Amid USDe Decline"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Stablecoins" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">The total supply of USD-pegged <a href="https://www.youtube.com/watch?v=cGN1iNk_zno" target="_blank" rel="noopener">stablecoins</a> has soared to $165 billion, reaching its highest level in almost two years as new tokens flood the market, intensifying competition. Ethena’s USDe stablecoin, with a market cap of around $2.4 billion, has contributed to this growth, stabilizing the market at its current level.</span></p>
<p><span style="font-weight: 400;">This milestone, achieved last Thursday, reflects a significant uptick in stablecoin supply since late June 2022, nearing the previous all-time high of over $180 billion. While Tether’s USDT and Circle’s USDC remain dominant, the stablecoin market is diversifying with new entrants. USDT maintains a commanding 70% market share, according to DeFiLlama data.</span></p>
<p><span style="font-weight: 400;">The emergence of Ethena’s stablecoin launched just over two months ago, and PayPal’s collaboration with Paxos for its stablecoin introduction in August 2023, have contributed to the expanding stablecoin landscape. Ripple’s recent announcement of its plans to launch a USD-pegged stablecoin further underscores the market’s growth potential. Ripple forecasts the total stablecoin market to skyrocket to $2.8 trillion by 2028.</span></p>
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In the wake of the recent Bitcoin halving, miners are contemplating a transition towards artificial intelligence (AI) to potentially boost their revenue streams, according to a report by CoinShares. The halving event, which occurred recently, is expected to significantly increase costs for miners, with electricity and overall production expenses nearly doubling. To counter these rising … Continue reading "Bitcoin Miners Eye AI Amid Post-Halving Shift"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Miners" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In the wake of the recent Bitcoin halving, miners are <a href="https://www.youtube.com/watch?v=JHLPOkA50xk" target="_blank" rel="noopener">contemplatin</a>g a transition towards artificial intelligence (AI) to potentially boost their revenue streams, according to a report by CoinShares.</span></p>
<p><span style="font-weight: 400;">The halving event, which occurred recently, is expected to significantly increase costs for miners, with electricity and overall production expenses nearly doubling.</span></p>
<p><span style="font-weight: 400;">To counter these rising costs, mining companies are exploring the potential of AI operations, leveraging energy-secure locations for potential higher returns. BitDigital (BTBT), Hive (HIVE), Hut 8 (HUT), TeraWulf (WULF), and Core Scientific (CORZ) are among the companies mentioned by CoinShares that are either already generating income from AI or have plans to do so.</span></p>
<p><span style="font-weight: 400;">The report suggests a trend where Bitcoin mining operations may migrate to stranded energy sites while investment in AI expands in more stable locations.</span></p>
<p><span style="font-weight: 400;">Pre-halving, the weighted average cash cost of production was approximately $29,500 per Bitcoin. Post-halving, this is projected to rise to about $53,000. Similarly, the average electricity cost of production per Bitcoin is expected to increase from around $16,300 to approximately $34,900.</span></p>
<p><span style="font-weight: 400;">CoinShares forecasts a potential rise in hash rate to 700 exahash by 2025. However, immediately after the halving, a 10% drop in hashrate is anticipated as miners shut down unprofitable machines. Hash prices are also expected to decline post-halving to $53 per hash/day.</span></p>
<p><span style="font-weight: 400;">Despite these challenges, miners are actively managing financial liabilities and using excess cash to pay down debt, indicating strategic financial planning amidst changing market dynamics.</span></p>
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In response to the ongoing challenges hindering crypto adoption, Web3 Freewallet has emerged as a solution, offering a secure and simplified platform supporting over 1,000 cryptocurrencies. Despite the exponential growth of digital finance, many individuals remain hesitant to venture into cryptocurrencies. The complexity surrounding crypto technology often acts as a barrier, with 75% of US … Continue reading "Empowering Crypto Adoption: Introducing a Secure, User-Friendly Digital Wallet"
<figure><img width="1060" height="631" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631.jpg 1060w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-300x179.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-1024x610.jpg 1024w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-768x457.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-382x228.jpg 382w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In response to the ongoing challenges hindering crypto adoption, Web3 Freewallet has emerged as a solution, offering a secure and simplified platform supporting over 1,000 cryptocurrencies.</span></p>
<p><span style="font-weight: 400;">Despite the exponential growth of digital finance, many individuals remain hesitant to venture into cryptocurrencies. The complexity surrounding crypto technology often acts as a barrier, with 75% of US citizens who are aware of crypto expressing doubts about its safety and reliability.</span></p>
<p><span style="font-weight: 400;">This underscores the critical need for user-friendly tools that can alleviate these concerns, making it easier for newcomers to enter the world of digital currencies. Simplifying these technologies is pivotal for mainstream adoption and fostering trust among new users.</span></p>
<h2><span style="font-weight: 400;">Introducing Web3 Freewallet: Supporting 1,000+ Cryptocurrencies</span></h2>
<p><span style="font-weight: 400;">Web3 Freewallet, launched in February 2024, represents Freewallet’s foray into self-custody solutions. As a noncustodial wallet, it caters to the diverse needs of crypto users by supporting over 1,000 cryptocurrencies across 15 different blockchains, showcasing its versatility and broad compatibility.</span></p>
<p><span style="font-weight: 400;">Accessible via a Google Chrome extension or mobile application for iOS and Android devices, Web3 Freewallet requires no personal information from users, ensuring privacy. The setup process is tailored to individuals with no prior crypto experience, guided by an intuitive interface aimed at facilitating seamless entry into the crypto market.</span></p>
<p><span style="font-weight: 400;">The platform seamlessly connects users with decentralized applications (DApps) through WalletConnect, enabling activities such as staking, token exchanging, and trading on third-party decentralized finance (DeFi) platforms. Moreover, it offers features for monitoring market trends, managing crypto portfolios, swapping tokens, and purchasing crypto directly within the app.</span></p>
<h2><span style="font-weight: 400;">Prioritizing Privacy and Security</span></h2>
<p><span style="font-weight: 400;">Web3 Freewallet places a strong emphasis on user security, refraining from collecting private keys and implementing robust security measures such as PIN codes, passcodes, biometric sign-in options, and spending limits to safeguard against unauthorized access and potential theft.</span></p>
<p><span style="font-weight: 400;">Additionally, users can import existing noncustodial wallets by entering their seed phrases, facilitating streamlined management of multiple wallets within a single interface and ensuring easy wallet recovery.</span></p>
<h2><span style="font-weight: 400;">Designed for Novice and Experienced Users Alike</span></h2>
<p><span style="font-weight: 400;">Engineered to cater to both novice and experienced crypto users, Web3 Freewallet prioritizes ease of use, flexibility, and comprehensive security measures. With millions of users already onboard, the platform is committed to continuous improvement, with plans to introduce new features including a peer-to-peer (P2P) trading platform and a staking service, aimed at enhancing trading options and passive income opportunities.</span></p>
<h2><span style="font-weight: 400;">Looking Ahead: The Future of Crypto Wallets and Adoption</span></h2>
<p><span style="font-weight: 400;">As merchants increasingly embrace cryptocurrencies, the future holds promise for <a href="https://cryptocurrencynews.com/robinhood-unveils-crypto-wallet-for-android-users-whats-new/">crypto wallets</a> to evolve into versatile virtual cards, bridging the gap between digital and traditional fiat currencies. This evolution has the potential to significantly lower adoption barriers, making digital assets as accessible as conventional money.</span></p>
<p><span style="font-weight: 400;">As crypto usage expands, multifunctional wallets like <a href="https://freewallet.org/web3-crypto-wallet" target="_blank" rel="noopener">Web3 Freewallet</a> are expected to play a crucial role in driving broader adoption, seamlessly integrating digital assets into everyday financial activities worldwide.</span></p>
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Bitcoin transaction fees have experienced a significant decline following the recent halving event, providing relief to users and miners alike. Initially, after the halving, fees soared to unprecedented levels, reaching as high as $146 for medium-priority transactions and $170 for high-priority transactions. However, recent data from Mempool.space indicates a remarkable reduction in fees, with medium-priority … Continue reading "Bitcoin Transaction Fees Plummet After Halving Event"
<figure><img width="696" height="448" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Futures" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options-300x193.jpg 300w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://www.youtube.com/watch?v=7B2KK3AzhMk" target="_blank" rel="noopener">Bitcoin transaction fees</a> have experienced a significant decline following the recent halving event, providing relief to users and miners alike.</span></p>
<p><span style="font-weight: 400;">Initially, after the halving, fees soared to unprecedented levels, reaching as high as $146 for medium-priority transactions and $170 for high-priority transactions.</span></p>
<p><span style="font-weight: 400;">However, recent data from Mempool.space indicates a remarkable reduction in fees, with medium-priority transactions now costing $8.48 and high-priority transactions priced at $9.32.</span></p>
<p><span style="font-weight: 400;">This substantial decrease in transaction fees comes as a relief to Bitcoin users, who were facing exorbitant costs in the immediate aftermath of the halving.</span></p>
<p><span style="font-weight: 400;">Additionally, the hash price index, a metric reflecting miners’ potential earnings from a given amount of hash rate, has also declined significantly post-halving. This drop from $182.98 per hash/day to $81 indicates a substantial decrease in mining profitability.</span></p>
<p><span style="font-weight: 400;">While miners had hoped that the introduction of the Runes protocol, designed to create fungible tokens on the Bitcoin blockchain, would offset revenue losses post-halving, initial results suggest otherwise.</span></p>
<p><span style="font-weight: 400;">Despite expectations, floor prices for the Runes NFT collection have plummeted by nearly 50% in the last 24 hours, indicating a lack of significant activity and revenue generation from the protocol.</span></p>
<p><span style="font-weight: 400;">In contrast, ordinal collections like Bitcoin Puppets and NodeMonkes have seen increases in floor prices, highlighting the uncertainty surrounding the revenue potential of different NFT projects in the post-halving landscape.</span></p>
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Shiba Inu, an Ethereum-based ecosystem featuring the second-largest token SHIB, has successfully raised $12 million in a recent token sale aimed at constructing a privacy-centric blockchain, as per a press release on Monday. The investment round saw participation from notable investors including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca … Continue reading "Shiba Inu Secures $12M Investment for Privacy-Focused Blockchain Development"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Shiba Inu" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Shiba Inu, an Ethereum-based ecosystem featuring the second-largest token SHIB, has successfully raised $12 million in a recent token sale aimed at constructing a privacy-centric blockchain, as per a press release on Monday.</span></p>
<p><span style="font-weight: 400;">The investment round saw participation from notable investors including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, and Spirit Dao. These investors acquired the new network’s forthcoming utility and governance token, TREAT.</span></p>
<p><span style="font-weight: 400;">The token sale was conducted by Shiba Inu Mint S.A., an ecosystem development company registered in Panama, according to the press release.</span></p>
<p><span style="font-weight: 400;">The fundraising initiative follows a previous report by CoinDesk in February, revealing that <a href="https://cryptocurrencynews.com/shiba-inu-faces-downturn-amidst-meme-coin-market-volatility/">Shiba Inu</a> developers were collaborating with cryptography firm Zama to develop a privacy-focused network atop Shibarium, the ecosystem’s Ethereum-based layer-2 blockchain. This new network is set to utilize Fully Homomorphic Encryption (FHE), a privacy tool enabling developers to utilize data on untrusted domains without requiring decryption.</span></p>
<p><span style="font-weight: 400;">SHIB, the associated token, experienced a 2.2% increase over the past 24 hours, mirroring the general uptrend of the <a href="https://www.coindesk.com/indices/cd20" target="_blank" rel="noopener">CoinDesk 20 Index</a>. With a market capitalization of nearly $16 billion, SHIB currently ranks as the 12th-largest cryptocurrency.</span></p>
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Bitcoin’s much-anticipated “halving” event has left little impact on its price trajectory, as market observers point to broader economic factors and geopolitical tensions shaping the cryptocurrency’s movements. The halving, a fundamental shift in Bitcoin’s technology that reduces the rate of new bitcoin creation, occurred over the weekend. While some enthusiasts anticipated a price surge similar … Continue reading "Bitcoin Traders Shrug Off ‘Halving’, Eye Broader Market Risks"
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<p><a href="https://finance.yahoo.com/news/bitcoin-traders-shrug-off-halving-150808340.html" target="_blank" rel="noopener">Bitcoin’s</a> much-anticipated “halving” event has left little impact on its price trajectory, as market observers point to broader economic factors and geopolitical tensions shaping the cryptocurrency’s movements.</p>
<p>The halving, a fundamental shift in Bitcoin’s technology that reduces the rate of new bitcoin creation, occurred over the weekend. While some enthusiasts anticipated a price surge similar to past halving events, the market response has been muted.</p>
<p>As of Monday afternoon GMT, Bitcoin traded at $66,300, showing modest gains amidst a landscape dominated by geopolitical uncertainties. Mick Roche, a senior trader at Zodia Markets, noted that events like easing tensions between Iran and Israel have exerted more influence on Bitcoin’s price than the halving itself.</p>
<p>Eric Demuth, CEO of Bitpanda, emphasized Bitcoin’s increasing correlation with broader market sentiment, suggesting that retail trading patterns around the halving were not distinctive.</p>
<p>Bitcoin’s resilience is partly attributed to its evolving relationship with traditional markets. Regulatory developments, such as the potential approval of spot Bitcoin exchange-traded funds in the U.S., have bolstered investor confidence and contributed to its recovery from previous downturns.</p>
<p>Looking ahead, Ben Laidler, global markets strategist at eToro, highlighted the trend towards institutional adoption of Bitcoin. While retail investors currently dominate the market, regulatory changes could pave the way for broader institutional involvement.</p>
<p>Despite its growing prominence, cryptocurrencies remain a niche asset class, with regulatory scrutiny and limited real-world utility tempering their mainstream appeal. Market observers are also awaiting regulatory decisions on spot ETFs for Ethereum, though hopes for imminent approval are diminishing.</p>
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Bitcoin miners experienced a windfall as they raked in a staggering $107 million in revenue on the fourth Bitcoin halving day, thanks to the introduction of the Runes token on the blockchain. The Runes protocol, which facilitates the creation of fungible tokens, played a pivotal role in boosting miners’ earnings despite the halving event slashing … Continue reading "Bitcoin Miners’ Record Earnings with Runes Launch"
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<p><a href="https://finance.yahoo.com/news/bitcoin-miner-earnings-soar-halving-141806216.html" target="_blank" rel="noopener">Bitcoin</a> miners experienced a windfall as they raked in a staggering $107 million in revenue on the fourth Bitcoin halving day, thanks to the introduction of the Runes token on the blockchain.</p>
<p>The Runes protocol, which facilitates the creation of fungible tokens, played a pivotal role in boosting miners’ earnings despite the halving event slashing block rewards by 50%.</p>
<p>On April 20, coinciding with Bitcoin’s halving, the Runes token standard was unveiled, driving transaction fees to unprecedented heights, with an average of $128 and daily fees totaling $80 million, according to data from IntoTheBlock. However, this surge in fees was short-lived.</p>
<p>By the following day, fees dropped to around $34, still higher than the $18 recorded prior to the halving.</p>
<p>The launch of the Runes protocol, synchronized with the halving block, garnered significant attention from the cryptocurrency community, particularly memecoin and nonfungible token enthusiasts.</p>
<p>This heightened demand for block space resulted in some of Bitcoin’s most profitable blocks to date, with the first halving block alone accumulating $2.6 million in fees and rewards, as highlighted by community members on social media.</p>
<p>Despite the spike in miner revenue and fees, the number of new Bitcoin addresses remained unchanged, indicating that the surge in activity was driven mainly by existing cryptocurrency users rather than new investors, noted Lucas Outumuro, head of research at IntoTheBlock.</p>
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Market volatility has led to over $152 million in cryptocurrency liquidations over the past day, with the wider cryptocurrency market witnessing over $290 million in liquidations within the same period. Of these liquidations, approximately $154 million were from long positions. Bitcoin’s liquidations soared to over $108 million as the asset dipped below the $60,000 mark … Continue reading "Pre-Halving Market Volatility Spurs Crypto Liquidations"
<figure><img width="696" height="448" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Futures" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options-300x193.jpg 300w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://www.youtube.com/watch?v=QSVGJ-5LNMQ" target="_blank" rel="noopener">Market volatility</a> has led to over $152 million in cryptocurrency liquidations over the past day, with the wider cryptocurrency market witnessing over $290 million in liquidations within the same period. Of these liquidations, approximately $154 million were from long positions.</span></p>
<p><span style="font-weight: 400;">Bitcoin’s liquidations soared to over $108 million as the asset dipped below the $60,000 mark before rebounding. Presently, it struggles to maintain its position above $64,000. Coinglass data reveals that liquidations were almost evenly split between bitcoin longs and shorts, totaling just over $54 million and $53 million, respectively.</span></p>
<p><span style="font-weight: 400;">The largest digital asset by market capitalization increased by around 5.3% in the past 24 hours, trading at $64,739 at 5:22 a.m. ET, according to The Block’s Price Page. The GM 30 Index, representing a selection of the top 30 cryptocurrencies, rose by 4.46% to 129.97 in the same period.</span></p>
<p><span style="font-weight: 400;">According to The Block’s halving countdown, Bitcoin’s upcoming halving event, where the miners’ block subsidy reward gets halved, is less than 100 blocks away. Analysts from 21Shares suggested that Bitcoin may continue in a lateral movement until geopolitical concerns, such as conflicts in the Middle East and control of oil transportation routes, stabilize.</span></p>
<p><span style="font-weight: 400;">The analysts observed that if geopolitical risks stabilize, bitcoin is expected to continue its upward trend post-halving. This is anticipated to be supported by increasing institutional interest in digital assets, particularly driven by U.S. spots and recently approved Hong Kong ETFs.</span></p>
<p><span style="font-weight: 400;">Coinbase analyst David Han emphasized the impact of macroeconomic factors, particularly heightened geopolitical tensions, on short-term crypto activity. “The recent elevated correlation of altcoins against bitcoin underlines this, indicating bitcoin’s anchor role in the space even as it firms its position as a macro asset,” Han stated in this week’s Coinbase Monthly Outlook report.</span></p>
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Tether announced its intention to enhance peer-to-peer payments on Telegram by extending its dollar-pegged USDT and gold-backed XAUT tokens to the TON network, catering to Telegram’s vast user base 900 million. Originally initiated by Telegram, the TON network has experienced rapid expansion, fueled by incentives to onboard Telegram users. Tether, the entity behind the $108 … Continue reading "Tether Expands Dollar, Gold Stablecoins to Boost Telegram Payments"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Tether Coin" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Tether announced its intention to enhance peer-to-peer payments on Telegram by extending its dollar-pegged <a href="https://www.youtube.com/watch?v=ZFxH0w0CKlI" target="_blank" rel="noopener">USDT and gold</a>-backed XAUT tokens to the TON network, catering to Telegram’s vast user base 900 million.</span></p>
<p><span style="font-weight: 400;">Originally initiated by Telegram, the TON network has experienced rapid expansion, fueled by incentives to onboard Telegram users. Tether, the entity behind the $108 billion market cap USDT, disclosed plans to integrate the dollar-pegged stablecoin and its gold-backed counterpart XAUT natively on The Open Network (TON), a blockchain closely associated with the messaging app Telegram.</span></p>
<p><span style="font-weight: 400;">Tether’s transparency page revealed that $10 million worth of USDT has been authorized on the TON blockchain, with $3 million already issued. This strategic move aims to facilitate “borderless, peer-to-peer payments” among Telegram’s extensive user base and bolster the burgeoning TON ecosystem, enabling users to leverage the stablecoins in decentralized finance (DeFi) applications.</span></p>
<p><span style="font-weight: 400;">Paolo Ardoino, CEO of Tether, emphasized the significance of this expansion, stating that the launch of USDT and XAUT on TON would enable seamless value transfer. This move aims to increase activity and liquidity while offering users a financial experience akin to those found in the traditional financial system.</span></p>
<p><span style="font-weight: 400;">The Open Network operates as a decentralized layer-1 network initially spearheaded by Telegram but operating independently due to regulatory concerns. Recent months have witnessed a surge in TON’s ecosystem, propelled by incentives for Telegram user adoption, with monthly active addresses surpassing 1.7 million from less than 100,000 six months ago.</span></p>
<p><span style="font-weight: 400;">Despite a momentary dip of up to 15% in the TON token following the announcement, it remains up 7% over the past 24 hours and has tripled in price this year, amassing a market capitalization of nearly $25 billion. Telegram’s crypto wallet supports various blockchains for deposits and withdrawals, with trading fees substantially reduced to encourage TON adoption.</span></p>
<p><span style="font-weight: 400;">Ramp Network, a fintech firm bridging crypto with traditional banking infrastructure, announced plans to facilitate purchases and withdrawals of USDT on TON following the announcement. Starting with fiat-to-USDT on TON on its platform, Ramp Network intends to integrate with third-party wallets supporting TON-based assets and later incorporate off-ramp capabilities.</span></p>
<p><span style="font-weight: 400;">Szymon Sypniewicz, CEO of Ramp Network, articulated the company’s vision, stating, “Crypto transactions should be as simple as texting,” underscoring the potential to enhance the lives of millions within the TON ecosystem through accessible, low-cost crypto transactions.</span></p>
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As Bitcoin experienced a dip below $60,000, significant investors seized the opportunity, fueling a rapid market rebound. According to IntoTheBlock, large holders, known as whales, increased their BTC holdings by 19,760 coins, valued at over $1.2 billion, at an average price of $62,500 on Friday. Whales, influential players in the crypto market, are closely watched … Continue reading "Bitcoin Whales Increase Holdings with $1.2B Purchase During Dip"
<figure><img width="1000" height="667" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin whales" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279.jpg 1000w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-768x512.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><div class="flex flex-grow flex-col max-w-full">
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<p>As <a href="https://www.coindesk.com/markets/2024/04/19/bitcoin-whales-bought-12b-btc-amid-the-price-dip-fueling-the-quick-rebound/?_gl=1*rvqqml*_up*MQ..*_ga*MTI0MjM4MDAxMy4xNzEzNTU3NDI5*_ga_VM3STRYVN8*MTcxMzU1NzQyOC4xLjEuMTcxMzU1NzQ1My4wLjAuMTA5NzQzMzkzNg.." target="_blank" rel="noopener">Bitcoin</a> experienced a dip below $60,000, significant investors seized the opportunity, fueling a rapid market rebound. According to IntoTheBlock, large holders, known as whales, increased their BTC holdings by 19,760 coins, valued at over $1.2 billion, at an average price of $62,500 on Friday.</p>
<p>Whales, influential players in the crypto market, are closely watched for their buying and selling patterns, often signaling market movements. Their accumulation during dips historically precedes price surges, suggesting a bullish sentiment.</p>
<p>This surge in whale activity contrasts with earlier in the week when investors hesitated to capitalize on market weakness. The subsequent rebound past $65,000, following airstrikes in Iran, was partly attributed to spot BTC buyers.</p>
<p>Bitcoin’s consolidation around $60,000 comes ahead of its halving event on April 20, reducing miner rewards and curbing token issuance. Despite uncertainties, opportunistic buying between $60,000-$62,000 levels indicates underlying market support.</p>
<p>David Han from Coinbase (NASDAQ:COIN)Institutional notes the dual role of Bitcoin as both a risk asset and a safe haven, contributing to directional uncertainty amid market fluctuations.</p>
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Although former President Donald Trump is better known for various endeavors, his involvement in the world of cryptocurrency has remained somewhat under the radar. Recent revelations have shed light on Trump’s crypto portfolio, providing insight into his digital assets. Using blockchain analytics, Arkham Intelligence has identified Trump’s wallet address by cross-referencing his financial disclosures. This … Continue reading "Donald Trump’s Crypto Holdings Take a Hit: Will He Cash Out?"
<figure><img width="1000" height="563" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/212.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Congress" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/212.jpg 1000w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-300x169.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-768x432.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-215x120.jpg 215w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Although former President Donald Trump is better known for various endeavors, his involvement in the world of cryptocurrency has remained somewhat under the radar.</span></p>
<p><span style="font-weight: 400;">Recent revelations have shed light on Trump’s crypto portfolio, providing insight into his digital assets.</span></p>
<p><span style="font-weight: 400;">Using blockchain analytics, Arkham Intelligence has identified Trump’s wallet address by cross-referencing his financial disclosures. This analysis has unveiled not only Trump’s holdings but also those of various other entities, ranging from Tesla Inc. to Snoop Dogg.</span></p>
<p><span style="font-weight: 400;">Trump entered the cryptocurrency sphere in late 2022 when his name and likeness were utilized to promote and sell the Trump Digital Trading Cards <a href="https://cryptocurrencynews.com/trump-nft-collection-trading-volume-plummets-99-ahead-of-criminal-trial/">non-fungible token (NFT) collection</a>. This venture yielded Trump over 1,700 Ethereum (ETH) and Wrapped ETH (WETH) tokens.</span></p>
<p><span style="font-weight: 400;">In late 2023, Trump liquidated a portion of his ETH holdings, transferring 1,075 ETH to Coinbase, likely for sale.</span></p>
<p><span style="font-weight: 400;">However, Trump’s most significant crypto investment lies in <a href="https://www.coingecko.com/en/coins/maga" target="_blank" rel="noopener">MAGA Coin (TRUMP)</a>, a meme coin endorsing the former president. Initially, 580,000 TRUMP tokens were sent to Trump’s wallet, which, at the time, were worth a modest sum. Yet, the value of TRUMP has surged dramatically in 2024, driven by meme coin frenzy and increased media attention on Trump.</span></p>
<p><span style="font-weight: 400;">TRUMP’s price skyrocketed from less than 1 cent shortly after launch to an all-time high of $11.56 within six months, representing a staggering price increase of nearly 150,000%. Consequently, Trump’s TRUMP tokens, initially worth a few thousand dollars, ballooned into a small fortune, reaching highs of over $6.7 million before settling around $3 million.</span></p>
<p><span style="font-weight: 400;">However, recent market fluctuations have taken their toll on Trump’s crypto portfolio. Over the past week, TRUMP has experienced a significant decline of over 15%, while ETH has also dipped by approximately 12%. As a result, Trump’s holdings have plummeted by over $1 million in just seven days.</span></p>
<p><span style="font-weight: 400;">On April 11, Trump’s crypto portfolio stood at $6.6 million, only to drop to $5.4 million by April 16, marking a loss of over $1.2 million, or more than 18%.</span></p>
<p><span style="font-weight: 400;">These losses raise speculation regarding Trump’s next move. While this downturn may be a temporary setback, it could also signal trouble for the future of the TRUMP coin. Moreover, there is uncertainty regarding Trump’s awareness of his crypto holdings. If Trump perceives a potential decline in the token’s value and is cognizant of his position, he may opt to sell, as he has done previously.</span></p>
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Bitcoin’s forthcoming ‘halving’ is on the horizon, prompting a need-to-know exploration. Here’s a breakdown of what awaits: What is Bitcoin Halving and Why Is it Significant? Bitcoin “halving,” occurring approximately every four years, directly affects bitcoin production. Miners, utilizing specialized computers to solve complex mathematical puzzles, receive a fixed number of bitcoins as a reward … Continue reading "Bitcoin’s Upcoming ‘Halving’: Here’s What You Should Know"
<figure><img width="696" height="441" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Cash" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash-300x190.jpg 300w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitcoin’s forthcoming ‘halving’ is on the horizon, prompting a need-to-know exploration. Here’s a breakdown of what awaits:</span></p>
<h2><span style="font-weight: 400;">What is Bitcoin Halving and Why Is it Significant?</span></h2>
<p><span style="font-weight: 400;">Bitcoin “halving,” occurring approximately every four years, directly affects bitcoin production. Miners, utilizing specialized computers to solve complex mathematical puzzles, receive a fixed number of bitcoins as a reward upon completion.</span></p>
<p><span style="font-weight: 400;">As the name suggests, halving cuts this fixed income in half, thereby reducing the influx of new bitcoins into the market. Consequently, the supply of available coins grows more gradually, aligning with bitcoin’s fundamental characteristic of limited supply. With only 21 million bitcoins ever to exist and the majority already mined, scarcity becomes a defining feature.</span></p>
<p><span style="font-weight: 400;">The reduction in supply can potentially drive up bitcoin prices, assuming demand remains steady or increases relative to supply. However, predicting future price movements remains uncertain, as past performance does not guarantee future results.</span></p>
<h2><span style="font-weight: 400;">How Frequently Does Halving Occur?</span></h2>
<p><span style="font-weight: 400;">According to Bitcoin’s code, halving takes place after the creation of every 210,000 “blocks” during the mining process, roughly translating to a four-year interval. The next halving is anticipated to unfold imminently.</span></p>
<h2><span style="font-weight: 400;">Will Halving Impact Bitcoin’s Price?</span></h2>
<p><span style="font-weight: 400;">The impact on </span><a href="https://cryptocurrencynews.com/bitcoin-bounces-back-after-geopolitical-tensions-sparked-losses/"><span style="font-weight: 400;">bitcoin’s price</span></a><span style="font-weight: 400;"> remains speculative. Historically, following previous halvings, bitcoin’s price experienced mixed short-term reactions, eventually surging significantly one year later. Nonetheless, market conditions beyond halving contribute to these fluctuations.</span></p>
<p><span style="font-weight: 400;">The current halving arrives on the heels of a bullish year for bitcoin, with prices doubling compared to the previous year. Factors such as the introduction of </span><a href="https://www.investopedia.com/spot-bitcoin-etfs-8358373#:~:text=Unlike%20bitcoin%20futures%20ETFs%2C%20a,invest%20in%20the%20digital%20currency." target="_blank" rel="noopener"><span style="font-weight: 400;">spot bitcoin ETFs</span></a><span style="font-weight: 400;"> and persistent demand may further influence bitcoin’s trajectory.</span></p>
<h2><span style="font-weight: 400;">What About Miners?</span></h2>
<p><span style="font-weight: 400;">Miners face the challenge of adapting to reduced rewards while managing operational costs. Efficiently prepared miners may weather the transition better, but struggling firms might encounter difficulties.</span></p>
<p><span style="font-weight: 400;">Consolidation within the mining industry is probable, a trend exacerbated by previous market downturns. Larger miners may expand operations, leveraging technological advancements for efficiency gains.</span></p>
<h2><span style="font-weight: 400;">What About the Environment?</span></h2>
<p><span style="font-weight: 400;">Bitcoin mining’s environmental impact stems largely from energy consumption. While recent trends indicate a shift towards cleaner energy sources, concerns persist regarding reliance on pollutive energy.</span></p>
<p><span style="font-weight: 400;">The looming halving might incentivize miners to seek cheaper, albeit less environmentally friendly, energy sources. Additionally, some firms may explore low-cost energy regions, potentially deploying inefficient mining rigs.</span></p>
<p><span style="font-weight: 400;">In essence, Bitcoin’s upcoming halving carries implications for its economy, environment, and industry landscape, yet its exact outcomes remain uncertain amidst the dynamic cryptoverse.</span></p>
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Bitcoin rebounded following a period of heightened geopolitical tension, which initially triggered sharp declines in cryptocurrencies. The digital asset experienced a temporary drop of over 6% to $59,643 on Friday but later stabilized, reaching $64,640 by 10:55 a.m. in New York. Other tokens like Ether, Solana, and the meme-crowd favorite Dogecoin also regained stability. Israel’s … Continue reading "Bitcoin Bounces Back After Geopolitical Tensions Sparked Losses"
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Crypto Markets" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitcoin <a href="https://www.youtube.com/watch?v=_5yFXwRjvSs" target="_blank" rel="noopener">rebounded</a> following a period of heightened geopolitical tension, which initially triggered sharp declines in cryptocurrencies.</span></p>
<p><span style="font-weight: 400;">The digital asset experienced a temporary drop of over 6% to $59,643 on Friday but later stabilized, reaching $64,640 by 10:55 a.m. in New York. Other tokens like Ether, Solana, and the meme-crowd favorite Dogecoin also regained stability.</span></p>
<p><span style="font-weight: 400;">Israel’s retaliatory strike on Iran, occurring less than a week after Tehran’s rocket and drone attacks, caused ripples across global markets. Reports indicating the safety of nuclear facilities in Isfahan, Iran, helped alleviate some concerns. Traditional safe-haven assets such as bonds, gold, and the dollar saw reduced gains, while stocks recovered from session lows.</span></p>
<p><span style="font-weight: 400;">The ongoing conflict in the Middle East is overshadowing the anticipated Bitcoin halving scheduled for later on Friday, which will reduce the token’s new supply. Historically, halvings have driven up the price of Bitcoin. However, with Bitcoin reaching a record high in mid-March before the event, there are doubts about whether the expected impact is already factored into the market.</span></p>
<p><span style="font-weight: 400;">Stefan von Haenisch, head of trading at OSL SG Pte, suggested that continued violence between Israel and Iran could prompt a general risk-off sentiment across the crypto market. Nonetheless, he noted that it might require a substantial downward movement to reverse the bullish sentiment surrounding the halving.</span></p>
<p><span style="font-weight: 400;">Strategists from JPMorgan Chase & Co. and Deutsche Bank AG have indicated that the quadrennial halving is already largely priced in by investors. Ahead of the event, a series of three-month-old spot-Bitcoin exchange-traded funds in the US have recorded five consecutive days of net outflows.</span></p>
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On Thursday, a Cryptopunk NFT with an alien theme changed hands for 4,000 ether, equivalent to $12.41 million. This particular Cryptopunk, #635, ranks as the sixth priciest in the Cryptopunks collection. Cryptopunks Collection Sees Another Major Sale With $12.41M Transaction In 2024, another significant transaction involving Cryptopunk #635 took place on Apr. 25, fetching 4,000 […]
PRESS RELEASE. GEORGE TOWN, CAYMAN ISLANDS — APRIL 25, 2024 Pulsr, an AI-powered search engine for NFTs, is launching a new token. The genesis of $PULSR is taking place on Thursday, April 25 at 11.30am EST — and will fuel the project’s ambition to make on-chain assets across the Web3 ecosystem more visible. Established in […]
The renowned ‘epic satoshi’ from the fourth halving block, also known as Sat # 1,968,750,000,000,000, fetched a price of 33.3 bitcoins, valued at just over $2.13 million on Thursday afternoon Eastern Standard Time. This satoshi, the smallest denomination of BTC, was sold for an astonishing 338 billion percent more than the typical value of a […]
On Thursday, the newly launched Runes protocol token named “DOG•GO•TO•THE•MOON” climbed to the pinnacle of Runes-based tokens in trade volume across non-fungible token (NFT) marketplaces, including Okx’s NFT market and Magic Eden. In 24 hours, the token amassed approximately $13.20 million in trade volume between these two platforms and now boasts a market capitalization of […]
According to recent data, transactions linked to the Runes protocol have been notably high in block utilization since its implementation on April 19. Figures from April 23 show that transactions involving Runes accounted for 81% of block usage on that day. In contrast, traditional financial activities constituted only 18.8% of the transactions processed. As Runes […]
Chivo wallet, the official cryptocurrency wallet of El Salvador, has dismissed an alleged hack of the source code of its software and the data of over 5 million users linked to the wallet’s KYC procedures. According to Chivo, the data of Salvadorans is protected, and the security of its data has never been breached. Chivo […]
Between November 2023 and April 10, the number of active cryptocurrency users from the Middle East and North Africa using the Bitget platform grew by more than 1,400%. Bitget’s strong performance in the Middle East and North Africa is attributed to the region’s perceived high adoption rates and the generally friendly landscape for cryptocurrencies. Support […]
The crypto bull market is well underway, with activity in the VC and early-stage funding sector mounting over the last few weeks as the highly anticipated Bitcoin halving approached. And, as the post-halving phase begins, increasing numbers of new projects are expected to come to market in search of funding. Indeed, the beginning of this […]
The tax authorities of Australia and Indonesia have signed a memorandum of understanding to share information on cryptocurrency. Under this agreement, both entities will exchange data on crypto assets and share knowledge to ensure adherence to tax obligations. Agreement Underscores Two Countries’ Willingness to Adopt The Australian Taxation Office (ATO) and its Indonesian counterpart have […]
The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and $545,748,909 in prejudgment interest. SEC Seeks Final Judgment Against Terraform Labs and Do Kwon The […]
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="CoinPoker" decoding="async" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149250217-1-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://cryptonews.com/news/crypto-betting-app-coinpoker-follows-rollbit-with-zero-withdrawal-fees-trend.htm" target="_blank" rel="noopener">CoinPoker</a>, a crypto betting app, has recently abolished all withdrawal fees on its platform, aligning itself with industry trends seen in online gambling sites like Rollbit.</span></p> <p><span style="font-weight: 400;">This strategic move is expected to enhance CoinPoker’s competitiveness and potentially attract more users over time, especially as it offers similar features to Rollbit and introduces unique propositions such as poker games against human opponents.</span></p> <p><span style="font-weight: 400;">The elimination of withdrawal fees, coupled with the recent success of gambling coins like Rollbit, could drive positive momentum for CoinPoker’s native CHP token.</span></p> <p><span style="font-weight: 400;">The platform’s official announcement emphasized that only blockchain network fees will apply to withdrawals, highlighting a user-centric approach aimed at fostering growth and stability.</span></p> <p><span style="font-weight: 400;">Previously, CoinPoker imposed nominal withdrawal fees to support site security and stability. However, advancements in security measures now allow the platform to waive these fees without compromising user experience or safety.</span></p> <p><span style="font-weight: 400;">Currently ranked 90th globally in the poker category by SimilarWeb, CoinPoker has seen steady growth, rising 14 places between February and March. With its strong user experience and unique offerings, CoinPoker is poised to climb further in industry rankings.</span></p> <p><span style="font-weight: 400;">The platform’s Crypto Series of Poker tournament, featuring a guaranteed prize pool of $1 million, has garnered significant attention, attracting renowned players like Tony G. who recently won over $300,000.</span></p> <p><span style="font-weight: 400;">As CoinPoker solidifies its position as a leading destination for crypto-friendly poker, it stands to gain market share from competitors like Rollbit. This potential growth trajectory could also bolster the value of CoinPoker’s CHP token.</span></p> <p><span style="font-weight: 400;">Despite recent declines, CHP has shown resilience, prompting investor interest following the withdrawal fee announcement. With consistent platform expansion, CHP may mirror the success of Rollbit’s RLB token, which has surged by 670% over the past year.</span></p> <p><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></p> <p><a href="https://cryptocurrencynews.com/disclaimer" target="_blank" rel="noopener"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Bulls" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Bulls-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">As the Dollar Index (DXY) experiences a recent pullback, crypto traders are banking on continued dollar weakness to <a href="https://www.youtube.com/watch?v=p6NmDeYvcNk" target="_blank" rel="noopener">fuel</a> a resurgence in Bitcoin (BTC), although some banks hold a contrary view.</span></p> <p><span style="font-weight: 400;">Recent trends have seen Bitcoin trading within the $60,000 to $70,000 range since mid-March, with the dollar’s bounce on the DXY contributing to this stabilization. However, a reversal in the DXY’s trajectory, coupled with expectations of a weaker dollar, has reignited optimism among Bitcoin bulls.</span></p> <p><span style="font-weight: 400;">Mike Alfred, a value investor and managing partner at Alpine Fox LP, anticipates a turnaround in the DXY, projecting a move back towards 102-103, which he believes will coincide with a bitcoin rally towards $90,000 in the short term. While some banks foresee continued dollar strength, others see signs of a potential peak, with projections ranging between 107 and 110 for the DXY.</span></p> <p><span style="font-weight: 400;">Societe Generale’s Cross Asset Research Team and Scotiabank are among those forecasting a resilient dollar, citing expectations of a prolonged hold on interest rates by the Federal Reserve. Additionally, the possibility of a U.S.-China trade war escalation, with proposed tariff hikes on Chinese imports, could further bolster the dollar, according to Barclays.</span></p> <p><span style="font-weight: 400;">Despite divergent opinions, crypto traders remain focused on the potential impact of a weaker dollar, which historically correlates with increased risk-taking and a favorable environment for Bitcoin and the broader crypto market. As such, traders are closely monitoring shifts in the DXY and geopolitical developments that could influence the dollar’s trajectory in the coming weeks.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">This Friday, Deribit, a leading derivatives exchange, braces for a substantial <a href="https://coingape.com/how-to-trade-this-week-as-9-4-billion-in-crypto-options-set-to-expire/" target="_blank" rel="noopener">expiration</a> of cryptocurrency options, totaling over $9.4 billion, with bitcoin options comprising the majority at $6.35 billion.</span></p> <p><span style="font-weight: 400;">The upcoming expiry has sparked notable activity in the options market, particularly for Bitcoin, where the put-call ratio stands at 0.68, signaling an increased interest in put options compared to calls. In contrast, ether options, valued at $3.08 billion, exhibit a lower put-call ratio of 0.49, suggesting a more bullish sentiment among traders.</span></p> <p><span style="font-weight: 400;">Amidst this activity, attention is drawn to the largest open interest in year-end expiry calls, notably at a $100,000 strike price for Bitcoin. This optimistic outlook reflects a belief among derivatives players in Bitcoin’s potential to surpass this milestone by December.</span></p> <p><span style="font-weight: 400;">QCP Capital analysts interpret this surge in options activity as investors positioning themselves for a post-halving resurgence in bitcoin’s value, anticipating a breakout from its two-month consolidation period.</span></p> <p><span style="font-weight: 400;">Standard Chartered’s recent analyst note aligns with this sentiment, projecting a year-end target price of $150,000 for bitcoin and $8,000 for ether.</span></p> <p><span style="font-weight: 400;">Options, as derivative contracts, offer traders the right, but not the obligation, to buy or sell the underlying asset at a predetermined price within a specified timeframe. The distribution of put and call options is often used to gauge market sentiment, with put options typically indicating bearishness and call options suggesting bullishness.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Tether" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Tether-Coin-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">S&P Global Ratings has indicated that the proposed regulations in the United States may lead to a <a href="https://www.spglobal.com/ratings/en/research/articles/240423-your-three-minutes-in-digital-assets-new-rules-could-boost-u-s-stablecoin-adoption-13083275" target="_blank" rel="noopener">shift in the stablecoin landscape</a>, potentially undermining the dominance of Tether’s USDT.</span></p> <p><span style="font-weight: 400;">The regulatory framework, if approved, could grant banks a competitive advantage by capping stablecoin issuance for non-banking institutions at $10 billion, according to S&P’s report released on Wednesday.</span></p> <p><span style="font-weight: 400;">The prospect of regulatory clarity is expected to incentivize traditional financial institutions to enter the stablecoin market, a development that could erode Tether’s market share, S&P stated.</span></p> <p><span style="font-weight: 400;">The proposed stablecoin bill, introduced by U.S. Senators Cynthia Lummis and Kirsten Gillibrand, aims to establish guidelines for stablecoin operations within the country. Stablecoins, a form of cryptocurrency tied to fiat currencies such as the U.S. dollar, hold significant importance within crypto markets.</span></p> <p><span style="font-weight: 400;">While the U.S. dollar remains the preferred peg for stablecoins, the absence of specific U.S. regulations for most stablecoin issuers may change with the introduction of the Lummis-Gillibrand Payment Stablecoin Act.</span></p> <p><span style="font-weight: 400;">Analyst Andrew O’Neill highlighted that the passage of the bill could expedite institutional blockchain innovation, particularly in areas like tokenization and digital bond issuances involving on-chain payments. This could create opportunities for banks as stablecoin issuers and potentially reduce Tether’s dominance in the global stablecoin market.</span></p> <p><span style="font-weight: 400;">S&P emphasized that Tether’s USDT, with a market capitalization of $110 billion, faces potential challenges under the proposed legislation, as it is issued by a non-U.S. entity and would not qualify as a permitted payment stablecoin. Consequently, U.S. entities may face restrictions on holding or transacting in USDT, potentially dampening its demand.</span></p> <p><span style="font-weight: 400;">Additionally, the removal of the SEC’s requirement for custodians to report digital assets on their balance sheet could spur the emergence of new digital asset custody providers, fostering greater competition in the market.</span></p> <p><span style="font-weight: 400;">Despite Tether’s substantial market presence, S&P has previously criticized USDT for its perceived shortcomings in fulfilling its primary function of maintaining a stable value.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="462" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Stock" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-300x199.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Stock-4-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://www.youtube.com/watch?v=uEBem1s9Dgo" target="_blank" rel="noopener">Block</a>, the parent company of Square and Cash App, unveiled a new initiative today enabling merchants utilizing Square’s services to convert a portion of their daily sales into Bitcoin.</span></p> <p><span style="font-weight: 400;">Rolling out initially in the U.S., the feature allows Square sellers to transfer 1-10% of their daily sales to their personal Cash App accounts, where the amount will automatically convert into Bitcoin by the day’s end. Merchants will receive confirmation of the conversion once the transaction is finalized.</span></p> <p><span style="font-weight: 400;">This bitcoin conversion feature will gradually become available to all sole proprietors or single-member LLCs in the coming months. Block will levy a 1% fee on every conversion made by the seller. Furthermore, merchants have the flexibility to send Bitcoin to other wallets or sell them at their convenience directly from their Cash App accounts.</span></p> <p><span style="font-weight: 400;">In a statement, Block emphasized its belief that Bitcoin serves as a tool for economic empowerment, offering individuals, including business owners, access to a global monetary system. The company highlighted that many Square sellers have expressed interest in bitcoin, viewing it as a means for long-term savings and diversification of their business assets.</span></p> <p><span style="font-weight: 400;">When questioned about sellers’ conversion habits and average returns, Block stated that it had recently piloted the Bitcoin conversion feature with a select group of merchants and lacked definitive data on this aspect.</span></p> <p><span style="font-weight: 400;">Block has prioritized simplifying the process of purchasing Bitcoin across its platforms. For instance, the company integrated its self-custodial wallet Bitkey with Cash App and Coinbase, facilitating seamless Bitcoin trading for users.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Crypto ETFs" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Crypto-ETFs-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Hong Kong is gearing up to debut its <a href="https://cryptocurrencynews.com/spot-bitcoin-etf-trading-volume-triples-to-111-billion-in-march/">spot bitcoin</a> and ether exchange traded funds (ETFs) on April 30, as announced by three asset managers on Wednesday.</span></p> <p><span style="font-weight: 400;">This move positions Hong Kong as a trailblazer in Asia, becoming the first in the region to embrace cryptocurrency products as mainstream investment tools. The regulatory green light from the Securities and Futures Commission, as indicated on the Hong Kong markets watchdog’s website, underscores the city’s commitment to fostering a conducive environment for digital asset investment.</span></p> <p><span style="font-weight: 400;">While mainland China maintains a ban on cryptocurrency, Hong Kong is actively positioning itself as a global digital asset hub, a strategic move aimed at enhancing its status as a financial epicenter. Over the past decade, Hong Kong has seen the presence of several leading international crypto exchanges and funds, although regulatory requirements have sometimes led to fluctuations in their operations.</span></p> <p><span style="font-weight: 400;">The approval of these new products in Hong Kong follows closely on the heels of the United States’ introduction of its inaugural ETFs tracking spot bitcoin just three months ago. The U.S. ETFs have already witnessed significant traction, with approximately $12 billion in net inflows, contributing to a notable surge in bitcoin’s value earlier this year.crypto </span></p> <p><span style="font-weight: 400;">China Asset Management, Harvest Fund Management, and Bosera Asset Management, alongside local cryptocurrency firm <a href="https://www.hashkey.com/" target="_blank" rel="noopener">Hashkey</a>, are spearheading the launch of these ETFs in Hong Kong, with a target date of April 30. Against the backdrop of bitcoin’s impressive 50% year-to-date appreciation and its record-breaking high of $73,803 in March, the cryptocurrency was trading around $65,000 on Wednesday.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer">Please See Disclaimer</a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/21577116-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Mining" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/21577116-1.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/21577116-1-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/21577116-1-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><div class="flex-1 overflow-hidden"> <div class="react-scroll-to-bottom--css-lwzwb-79elbk h-full"> <div class="react-scroll-to-bottom--css-lwzwb-1n7m0yu"> <div> <div class="flex flex-col text-sm pb-9"> <div class="w-full text-token-text-primary" dir="auto" data-testid="conversation-turn-21"> <div class="px-4 py-2 justify-center text-base md:gap-6 m-auto"> <div class="flex flex-1 text-base mx-auto gap-3 juice:gap-4 juice:md:gap-6 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem]"> <div class="relative flex w-full min-w-0 flex-col agent-turn"> <div class="flex-col gap-1 md:gap-3"> <div class="flex flex-grow flex-col max-w-full"> <div class="min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="2342e514-5c72-4bdd-b495-300fcb158f5b"> <div class="result-streaming markdown prose w-full break-words dark:prose-invert light"> <p>Jack Dorsey’s company Block(NYSE:SQ), formerly known as Square, has broadened its <a href="https://cryptonews.com/news/jack-dorsey-block-bitcoin-mining-ambitions-develops-3nm-mining-chip.htm" target="_blank" rel="noopener">Bitcoin</a> mining ambitions by transitioning from chip design to developing a comprehensive mining system.</p> <p>In a recent blog post, Block revealed its achievement in creating a standalone three-nanometer Bitcoin mining chip and announced collaboration with a prominent global semiconductor foundry to finalize the chip’s design.</p> <p>Beyond chip development, Block plans to extend its efforts to include system design, aiming to address challenges faced by Bitcoin miners and decentralize hardware supply and hashrate distribution.</p> <p>The project seeks to overcome obstacles such as limited availability and high costs of mining rigs, while improving user experience and operational reliability.</p> <p>Although specific details about the mining system are limited, Dorsey had previously hinted at a “Bitcoin mining system based on custom silicon” and emphasized the importance of vertical integration and diversification in silicon design.</p> <p>This development follows the recent Bitcoin halving, which reduced new Bitcoin issuance. Dorsey’s vision extends beyond Bitcoin generation, as Block’s venture arm supports Gridless, a company operating Bitcoin mines powered by renewable energy in Kenya, Malawi, and Zambia.</p> <p>Gridless utilizes innovative methods, such as solar power and geothermal energy, to power its operations and provide electricity to rural areas. With six mines across multiple countries, Gridless demonstrates the potential for Bitcoin mining to drive renewable energy adoption and incentivize sustainable development.</p> <p><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></p> <p><i><span style="font-weight: 400;"><a href="https://cryptocurrencynews.com/disclaimer" target="_blank" rel="noopener">Please See Disclaimer</a></span></i></p> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="w-full pt-2 md:pt-0 dark:border-white/20 md:border-transparent md:dark:border-transparent md:w-[calc(100%-.5rem)]"> <form class="stretch mx-2 flex flex-row gap-3 last:mb-2 md:mx-4 md:last:mb-6 lg:mx-auto lg:max-w-2xl xl:max-w-3xl"> <div class="relative flex h-full flex-1 flex-col"> <div class="flex w-full items-center"></div> </div> </form> </div>
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Binance" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Binance-Logo-1-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Binance, one of the world’s largest cryptocurrency exchanges, is embroiled in a new legal battle in Canada as a <a href="https://dig.watch/updates/cryptocurrency-exchange-binance-faces-class-action-lawsuit-in-canada" target="_blank" rel="noopener">class-action lawsuit</a> alleges violations of securities laws. Ontario’s Superior Court of Justice published a certification motion for the lawsuit on April 19, reigniting legal scrutiny against the exchange.</span></p> <p><span style="font-weight: 400;">The lawsuit accuses Binance of selling cryptocurrency derivative products to retail investors without proper registration, in violation of Ontario Securities Act (OSA) and federal laws. Plaintiffs represented by Christopher Lochan and Jeremy Leeder seek damages and recissions of unlawful derivative trades for Canadian Binance users, numbering in the tens of thousands.</span></p> <p><span style="font-weight: 400;">This legal action comes after Binance announced plans to cease operations in Ontario in response to regulatory warnings from the Ontario Securities Commission (OSC) in 2023. Despite this announcement, the OSC’s investigation into Binance remains ongoing, highlighting continued regulatory scrutiny.</span></p> <p><span style="font-weight: 400;">The lawsuit further tarnishes Binance’s reputation, already marred by previous controversies, including former CEO Changpeng Zhao’s guilty plea to US anti-money laundering violations in 2021. Although current CEO Richard Teng has made efforts to steer Binance towards regulatory compliance, including securing a Dubai crypto license, the exchange’s past regulatory issues continue to overshadow its progress.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Solana" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Solana-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In the wake of the memecoin frenzy, over $25 million invested in pre-sold Solana memecoins has been <a href="https://www.youtube.com/watch?v=LrQY_5iynTg" target="_blank" rel="noopener">left stranded</a>, with more than half of the top projects abandoned within just one month.</span></p> <p><span style="font-weight: 400;">ZachXBT’s investigation identified 12 Solana memecoin projects that have been deserted by their founders, leaving investors in the lurch. Solana Co-Founder Anatoly Yakovenko expressed skepticism towards the trend, stating, “Pre-selling a meme doesn’t make any sense to begin with.” Yakovenko previously cautioned against investing in memecoin pre-sales, highlighting the riskiness of such endeavors.</span></p> <p><span style="font-weight: 400;">Of the 22 projects initially scrutinized, ZachXBT revealed that 12 have already been deserted within a month. Notable among these are LIKE, MOONKE, FROG, TEMPLE, and SORRY, which collectively raised over $2 million. Other projects, including those like @Jared_eth, raised substantial funds without even launching a token, with one account flagged as compromised by the web3 security platform Pocket Universe.</span></p> <p><span style="font-weight: 400;">The memecoin frenzy has now shifted to the Coinbase-backed Base blockchain, indicating a lack of lessons learned from the Solana debacle, according to ZachXBT.</span></p> <p><span style="font-weight: 400;">Meanwhile, the price of SOL, Solana’s native token, has witnessed a significant decline since the memecoin boom. Although SOL surged to over $200 during the peak of the frenzy, largely fueled by memecoin speculation, it has since plummeted to $154 as of the latest data. This represents a 23% decrease, despite SOL having already bounced back approximately 30% from its recent low of $117 on April 13.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Tether Coin" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Tether-Coin-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">As scrutiny over the misuse of <a href="https://www.youtube.com/watch?v=KWaJa7RUDEU" target="_blank" rel="noopener">Tether’s USDT</a> stablecoin intensifies, the company pledges to take decisive action against addresses linked to sanctions violations.</span></p> <p><span style="font-weight: 400;">Tether, the issuer of the popular USDT stablecoin, has announced its commitment to freezing any addresses associated with sanctioned entities. This proactive stance follows reports indicating the exploitation of USDT tokens by certain state actors to evade US sanctions.</span></p> <p><span style="font-weight: 400;">A spokesperson for Tether stated, “Tether respects the Office of Foreign Assets Control (OFAC) SDN list and is committed to working to ensure sanction addresses are frozen promptly.”</span></p> <p><span style="font-weight: 400;">In the past year, Tether has actively frozen addresses holding substantial amounts of its digital assets involved in illicit activities. For example, the company froze 32 addresses containing $873,118.34 linked to unlawful activities in Israel and Ukraine.</span></p> <p><span style="font-weight: 400;">Tether’s CEO, Paolo Ardoino, emphasized that these actions underscore the company’s dedication to establishing robust safety standards within the emerging cryptocurrency industry.</span></p> <p><span style="font-weight: 400;">Despite Tether’s compliance efforts, recent reports have highlighted ongoing exploitation of the USDT stablecoin by terrorist groups and sanctioned nations seeking to bypass restrictions. Venezuela’s state-owned oil giant, PDVSA, reportedly utilized USDT for crude oil and fuel exports amid renewed US sanctions. Additionally, Russia has increasingly turned to alternative payment avenues, including Tether’s USDT stablecoin, to evade economic sanctions, according to US Treasury Deputy Secretary Adewale Adeyemo.</span></p> <p><span style="font-weight: 400;">A United Nations report also revealed the prevalence of cryptocurrency-based money laundering, with Tether’s USDT on the TRON blockchain being a favored choice, particularly within illegal online gambling platforms.</span></p> <p><span style="font-weight: 400;">In response to these developments, US Senator Elizabeth Warren has advocated for stringent regulatory measures, emphasizing the importance of including stablecoin issuers and other decentralized finance (DeFi) intermediaries under anti-money laundering (AML) and combating the financing of terrorism (CFT) requirements in any proposed stablecoin regulations. Excluding such entities, Warren argues, could enable bad actors to exploit the growing crypto trading activities facilitated by the legislation.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/2149369111-e1713895199623.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="turnkey" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://finance.yahoo.com/news/galaxy-lightspeed-faction-lead-15m-130000321.html" target="_blank" rel="noopener">Turnkey</a>, a company specializing in building wallet infrastructure for blockchain developers, announced a successful $15 million Series A funding round led by Lightspeed Faction and Galaxy Ventures.</span></p> <p><span style="font-weight: 400;">Founded by former Coinbase (NASDAQ:COIN) employees who contributed to the development of the U.S. crypto exchange’s custody service, Turnkey aims to assist application developers in constructing user-friendly blockchain wallets. The funding round, disclosed on Tuesday, saw participation from notable investors including Sequoia, Coinbase Ventures, Alchemy, Figment Capital, and Mirana Ventures. This round, finalized last October, follows a $7.5 million seed round in 2022.</span></p> <p><span style="font-weight: 400;">CEO Bryce Ferguson explained, “At its simplest level, Turnkey provides secure, flexible, and scalable wallet infrastructure, offering developers a comprehensive toolkit for wallet-related tasks and cryptographic transactions.”</span></p> <p><span style="font-weight: 400;">Ferguson highlighted the inspiration behind Turnkey’s inception, stemming from the realization at Coinbase that many crypto custodians treated cryptocurrency solely as a “buy-and-hold investment,” lacking the flexibility for users to actively utilize their assets. Turnkey’s objective is to empower custodians with tools enabling end-users to exercise greater control over their assets securely.</span></p> <p><span style="font-weight: 400;">Released to the public in August, Turnkey’s product suite caters to various needs, serving as the backbone for applications requiring wallets and transaction signing, both for individual users and businesses. Notable clients include Alchemy, utilizing Turnkey to power its “wallet-as-a-service” offering, and enterprise-focused wallets like Mural, facilitating user-friendly invoicing and global payments.</span></p> <p><span style="font-weight: 400;">Turnkey also caters to financial firms, with trading terminals embedding Turnkey’s wallets for transactional purposes. Additionally, individual users leverage Turnkey for broad transaction signing.</span></p> <p><span style="font-weight: 400;">Ferguson emphasized Turnkey’s comprehensive approach, stating, “We built all of the wallet infrastructure from the ground up,” highlighting the platform’s ability to generate cryptographic key pairs and provide extensive tooling for accessing and managing these keys.</span></p> <p><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Binance" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Binance-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Kenya is preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by Nigerian authorities for alleged involvement in tax evasion and a dramatic escape from custody. Anjarwalla was <a href="https://punchng.com/kenyan-police-arrest-binance-executive-who-escaped-from-nigeria/" target="_blank" rel="noopener">apprehended</a> in Kenya over the weekend in a joint operation involving several agencies, including the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL, following weeks of search efforts. He is expected to be extradited to Nigeria within the week to face trial on tax evasion charges, with the possibility of additional charges related to illegal passport use and escape from custody.</span></p> <p><span style="font-weight: 400;">Anjarwalla, Binance Africa’s regional manager, along with another executive, Tigran Gambrayan, encountered legal issues in Nigeria in February due to their association with the crypto exchange. Anjarwalla evaded custody in March using a Kenyan passport and had been evading authorities until his recent capture.</span></p> <p><span style="font-weight: 400;">This development adds to the ongoing tension between Binance and Nigerian authorities. Gambrayan, who has been detained since February, is currently facing trial for alleged tax evasion. However, the proceedings have faced delays, with the court adjourning the case twice due to issues with formally serving charges to the exchange. Binance CEO Richard Teng has expressed willingness to cooperate with Nigerian authorities, but specific efforts to secure the release of the detained executives remain undisclosed.</span></p> <p><span style="font-weight: 400;">Similarly, Gambrayan’Kenya to Extradite Binance Executive Linked to Tax Evasion to Nigeria attempts to secure bail have encountered obstacles, with a federal high court in Abuja postponing his bail application hearing. He is presently held at the Kuje Correctional Center pending further legal proceedings.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="465" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/102-e1713820569688.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p>Welcome to “Epoch V” of <a href="https://www.coindesk.com/consensus-magazine/2024/04/22/how-the-bitcoin-halving-will-drive-action-to-layer-2s/?_gl=1*179lfjw*_up*MQ..*_ga*MTExNTQzNTEyNS4xNzEzODIwMTgw*_ga_VM3STRYVN8*MTcxMzgyMDE3OS4xLjAuMTcxMzgyMDE3OS4wLjAuMTkxMzU0NjY2Mw.." target="_blank" rel="noopener">Bitcoin.</a> The fourth successful halving of Bitcoin occurred on April 20, marking a programmed reduction in the amount of new bitcoin entering circulation through mining. As celebrations ensue worldwide, attention turns to what lies ahead.</p> <p>Coinciding with the halving was the launch of Runes, a protocol facilitating the creation of meme coins on Bitcoin. This launch saw hundreds of tokens introduced, contributing over $80 million in fees to bitcoin miners. This surge in trading activity has driven transaction costs on Bitcoin to over $70 on average, a staggering 1,395.8% increase over the trailing 30-day average, according to TokenTerminal.</p> <p>Some foresee “Epoch V,” leading up to the next halving in 2028, as the period when Bitcoin layer 2 solutions like the Lightning Network will gain traction. Bitcoin fees hit an all-time high of $128 on April 20, prompting many to explore alternative solutions. Bitcoin Core developer Ava Chow stated, “High fee environments will prompt people to look into them,” referring to Lightning and other layer 2 options.</p> <p>A recent Messari report emphasized the necessity of layer-2 solutions for Bitcoin amidst rising on-chain activity, signaling a shift from Bitcoin as merely “digital gold” to a platform for innovation.</p> <p>The launch of the Ordinals protocol last year, enabling new data storage methods on Bitcoin’s smallest units (satoshis), has catalyzed this shift. BitVM allows off-chain computation, Babylon facilitates staking and earning yield on BTC, while layer 2s like Stacks and Merlin host decentralized apps and meme coins.</p> <p>Post-halving, tokens associated with Bitcoin layer 2s have outperformed BTC. For instance, Elastos rose 11%, SatoshiVM climbed 5%, and Stacks gained nearly 20% to $2.87, partly driven by the anticipated Nakamoto upgrade.</p> <p>While market dynamics may drive action to Bitcoin’s secondary layers, challenges persist. Higher BTC fees may price out users with low balances from platforms like Lightning, necessitating workarounds such as custodial services. Concerns arise over the erosion of sovereignty and anonymity with custodial Lightning solutions.</p> <p>This landscape reflects the legacy of the Blocksize Wars, where the decision to prioritize layer 2 scaling over block size increases set Bitcoin’s current trajectory.</p> <p>As Chow remarks, the choice between block size and transaction size adjustments represents a fundamental divide in Bitcoin’s scaling debate, shaping its evolution to date.</p> <p><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="695" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Thailand Crypto" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto.jpg 695w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Thailand-Crypto-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In a bid to <a href="https://www.youtube.com/watch?v=Rv4tScdz4CM" target="_blank" rel="noopener">prevent</a> the illicit use of cryptocurrency for money laundering, Thailand’s Securities and Exchange Commission (SEC) announced plans to block local access to unauthorized crypto platforms. Investors are urged to withdraw funds from such platforms as authorities move to restrict their operations.</span></p> <p><span style="font-weight: 400;">Following a meeting with a government committee on technology-related crimes, the SEC was tasked with identifying and submitting information on unauthorized digital asset service providers to the Ministry of Digital Economy and Society. Once approved by the courts, access to these platforms will be prohibited.</span></p> <p><span style="font-weight: 400;">While specific criteria for disqualifying platforms were not disclosed, the SEC provided a verification website to help investors assess legitimacy. Blocking access aligns with efforts to combat criminal activity, drawing parallels with similar actions taken in India and the Philippines.</span></p> <p><span style="font-weight: 400;">Previously, the SEC initiated legal proceedings against unauthorized exchanges of Binance and Bybit. The agency emphasizes the risks associated with unregulated operators, highlighting the lack of legal protection and the potential for fraud.</span></p> <p><span style="font-weight: 400;">This crackdown follows recent crypto-friendly measures by Thai authorities, including the extension of VAT exemption on crypto trading gains and permission for local institutions to invest in U.S. spot bitcoin exchange-traded funds.</span></p> <p><em>Featured Image:</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Stablecoins" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Stablecoins-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">The total supply of USD-pegged <a href="https://www.youtube.com/watch?v=cGN1iNk_zno" target="_blank" rel="noopener">stablecoins</a> has soared to $165 billion, reaching its highest level in almost two years as new tokens flood the market, intensifying competition. Ethena’s USDe stablecoin, with a market cap of around $2.4 billion, has contributed to this growth, stabilizing the market at its current level.</span></p> <p><span style="font-weight: 400;">This milestone, achieved last Thursday, reflects a significant uptick in stablecoin supply since late June 2022, nearing the previous all-time high of over $180 billion. While Tether’s USDT and Circle’s USDC remain dominant, the stablecoin market is diversifying with new entrants. USDT maintains a commanding 70% market share, according to DeFiLlama data.</span></p> <p><span style="font-weight: 400;">The emergence of Ethena’s stablecoin launched just over two months ago, and PayPal’s collaboration with Paxos for its stablecoin introduction in August 2023, have contributed to the expanding stablecoin landscape. Ripple’s recent announcement of its plans to launch a USD-pegged stablecoin further underscores the market’s growth potential. Ripple forecasts the total stablecoin market to skyrocket to $2.8 trillion by 2028.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Miners" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Miners-2-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In the wake of the recent Bitcoin halving, miners are <a href="https://www.youtube.com/watch?v=JHLPOkA50xk" target="_blank" rel="noopener">contemplatin</a>g a transition towards artificial intelligence (AI) to potentially boost their revenue streams, according to a report by CoinShares.</span></p> <p><span style="font-weight: 400;">The halving event, which occurred recently, is expected to significantly increase costs for miners, with electricity and overall production expenses nearly doubling.</span></p> <p><span style="font-weight: 400;">To counter these rising costs, mining companies are exploring the potential of AI operations, leveraging energy-secure locations for potential higher returns. BitDigital (BTBT), Hive (HIVE), Hut 8 (HUT), TeraWulf (WULF), and Core Scientific (CORZ) are among the companies mentioned by CoinShares that are either already generating income from AI or have plans to do so.</span></p> <p><span style="font-weight: 400;">The report suggests a trend where Bitcoin mining operations may migrate to stranded energy sites while investment in AI expands in more stable locations.</span></p> <p><span style="font-weight: 400;">Pre-halving, the weighted average cash cost of production was approximately $29,500 per Bitcoin. Post-halving, this is projected to rise to about $53,000. Similarly, the average electricity cost of production per Bitcoin is expected to increase from around $16,300 to approximately $34,900.</span></p> <p><span style="font-weight: 400;">CoinShares forecasts a potential rise in hash rate to 700 exahash by 2025. However, immediately after the halving, a 10% drop in hashrate is anticipated as miners shut down unprofitable machines. Hash prices are also expected to decline post-halving to $53 per hash/day.</span></p> <p><span style="font-weight: 400;">Despite these challenges, miners are actively managing financial liabilities and using excess cash to pay down debt, indicating strategic financial planning amidst changing market dynamics.</span></p> <p><em>Featured Image: Freepik @ zasabe</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="1060" height="631" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631.jpg 1060w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-300x179.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-1024x610.jpg 1024w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-768x457.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/cryptocurrencies-photos-scattered-digital-surface_1135748-27631-382x228.jpg 382w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">In response to the ongoing challenges hindering crypto adoption, Web3 Freewallet has emerged as a solution, offering a secure and simplified platform supporting over 1,000 cryptocurrencies.</span></p> <p><span style="font-weight: 400;">Despite the exponential growth of digital finance, many individuals remain hesitant to venture into cryptocurrencies. The complexity surrounding crypto technology often acts as a barrier, with 75% of US citizens who are aware of crypto expressing doubts about its safety and reliability.</span></p> <p><span style="font-weight: 400;">This underscores the critical need for user-friendly tools that can alleviate these concerns, making it easier for newcomers to enter the world of digital currencies. Simplifying these technologies is pivotal for mainstream adoption and fostering trust among new users.</span></p> <h2><span style="font-weight: 400;">Introducing Web3 Freewallet: Supporting 1,000+ Cryptocurrencies</span></h2> <p><span style="font-weight: 400;">Web3 Freewallet, launched in February 2024, represents Freewallet’s foray into self-custody solutions. As a noncustodial wallet, it caters to the diverse needs of crypto users by supporting over 1,000 cryptocurrencies across 15 different blockchains, showcasing its versatility and broad compatibility.</span></p> <p><span style="font-weight: 400;">Accessible via a Google Chrome extension or mobile application for iOS and Android devices, Web3 Freewallet requires no personal information from users, ensuring privacy. The setup process is tailored to individuals with no prior crypto experience, guided by an intuitive interface aimed at facilitating seamless entry into the crypto market.</span></p> <p><span style="font-weight: 400;">The platform seamlessly connects users with decentralized applications (DApps) through WalletConnect, enabling activities such as staking, token exchanging, and trading on third-party decentralized finance (DeFi) platforms. Moreover, it offers features for monitoring market trends, managing crypto portfolios, swapping tokens, and purchasing crypto directly within the app.</span></p> <h2><span style="font-weight: 400;">Prioritizing Privacy and Security</span></h2> <p><span style="font-weight: 400;">Web3 Freewallet places a strong emphasis on user security, refraining from collecting private keys and implementing robust security measures such as PIN codes, passcodes, biometric sign-in options, and spending limits to safeguard against unauthorized access and potential theft.</span></p> <p><span style="font-weight: 400;">Additionally, users can import existing noncustodial wallets by entering their seed phrases, facilitating streamlined management of multiple wallets within a single interface and ensuring easy wallet recovery.</span></p> <h2><span style="font-weight: 400;">Designed for Novice and Experienced Users Alike</span></h2> <p><span style="font-weight: 400;">Engineered to cater to both novice and experienced crypto users, Web3 Freewallet prioritizes ease of use, flexibility, and comprehensive security measures. With millions of users already onboard, the platform is committed to continuous improvement, with plans to introduce new features including a peer-to-peer (P2P) trading platform and a staking service, aimed at enhancing trading options and passive income opportunities.</span></p> <h2><span style="font-weight: 400;">Looking Ahead: The Future of Crypto Wallets and Adoption</span></h2> <p><span style="font-weight: 400;">As merchants increasingly embrace cryptocurrencies, the future holds promise for <a href="https://cryptocurrencynews.com/robinhood-unveils-crypto-wallet-for-android-users-whats-new/">crypto wallets</a> to evolve into versatile virtual cards, bridging the gap between digital and traditional fiat currencies. This evolution has the potential to significantly lower adoption barriers, making digital assets as accessible as conventional money.</span></p> <p><span style="font-weight: 400;">As crypto usage expands, multifunctional wallets like <a href="https://freewallet.org/web3-crypto-wallet" target="_blank" rel="noopener">Web3 Freewallet</a> are expected to play a crucial role in driving broader adoption, seamlessly integrating digital assets into everyday financial activities worldwide.</span></p> <p><em>Featured Image: Freepik @ produtizebro</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer">Please See Disclaimer</a></p>
<figure><img width="696" height="448" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Futures" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Bitcoin-Options-300x193.jpg 300w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;"><a href="https://www.youtube.com/watch?v=7B2KK3AzhMk" target="_blank" rel="noopener">Bitcoin transaction fees</a> have experienced a significant decline following the recent halving event, providing relief to users and miners alike.</span></p> <p><span style="font-weight: 400;">Initially, after the halving, fees soared to unprecedented levels, reaching as high as $146 for medium-priority transactions and $170 for high-priority transactions.</span></p> <p><span style="font-weight: 400;">However, recent data from Mempool.space indicates a remarkable reduction in fees, with medium-priority transactions now costing $8.48 and high-priority transactions priced at $9.32.</span></p> <p><span style="font-weight: 400;">This substantial decrease in transaction fees comes as a relief to Bitcoin users, who were facing exorbitant costs in the immediate aftermath of the halving.</span></p> <p><span style="font-weight: 400;">Additionally, the hash price index, a metric reflecting miners’ potential earnings from a given amount of hash rate, has also declined significantly post-halving. This drop from $182.98 per hash/day to $81 indicates a substantial decrease in mining profitability.</span></p> <p><span style="font-weight: 400;">While miners had hoped that the introduction of the Runes protocol, designed to create fungible tokens on the Bitcoin blockchain, would offset revenue losses post-halving, initial results suggest otherwise.</span></p> <p><span style="font-weight: 400;">Despite expectations, floor prices for the Runes NFT collection have plummeted by nearly 50% in the last 24 hours, indicating a lack of significant activity and revenue generation from the protocol.</span></p> <p><span style="font-weight: 400;">In contrast, ordinal collections like Bitcoin Puppets and NodeMonkes have seen increases in floor prices, highlighting the uncertainty surrounding the revenue potential of different NFT projects in the post-halving landscape.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Shiba Inu" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Shiba-Inu-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Shiba Inu, an Ethereum-based ecosystem featuring the second-largest token SHIB, has successfully raised $12 million in a recent token sale aimed at constructing a privacy-centric blockchain, as per a press release on Monday.</span></p> <p><span style="font-weight: 400;">The investment round saw participation from notable investors including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, and Spirit Dao. These investors acquired the new network’s forthcoming utility and governance token, TREAT.</span></p> <p><span style="font-weight: 400;">The token sale was conducted by Shiba Inu Mint S.A., an ecosystem development company registered in Panama, according to the press release.</span></p> <p><span style="font-weight: 400;">The fundraising initiative follows a previous report by CoinDesk in February, revealing that <a href="https://cryptocurrencynews.com/shiba-inu-faces-downturn-amidst-meme-coin-market-volatility/">Shiba Inu</a> developers were collaborating with cryptography firm Zama to develop a privacy-focused network atop Shibarium, the ecosystem’s Ethereum-based layer-2 blockchain. This new network is set to utilize Fully Homomorphic Encryption (FHE), a privacy tool enabling developers to utilize data on untrusted domains without requiring decryption.</span></p> <p><span style="font-weight: 400;">SHIB, the associated token, experienced a 2.2% increase over the past 24 hours, mirroring the general uptrend of the <a href="https://www.coindesk.com/indices/cd20" target="_blank" rel="noopener">CoinDesk 20 Index</a>. With a market capitalization of nearly $16 billion, SHIB currently ranks as the 12th-largest cryptocurrency.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer">Please See Disclaimer</a></p>
<figure><img width="696" height="397" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/27198-e1713799082804.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><div class="flex flex-grow flex-col max-w-full"> <div class="min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="2e54c6c4-e146-4b7a-b109-b53fe44f22d9"> <div class="markdown prose w-full break-words dark:prose-invert light"> <p><a href="https://finance.yahoo.com/news/bitcoin-traders-shrug-off-halving-150808340.html" target="_blank" rel="noopener">Bitcoin’s</a> much-anticipated “halving” event has left little impact on its price trajectory, as market observers point to broader economic factors and geopolitical tensions shaping the cryptocurrency’s movements.</p> <p>The halving, a fundamental shift in Bitcoin’s technology that reduces the rate of new bitcoin creation, occurred over the weekend. While some enthusiasts anticipated a price surge similar to past halving events, the market response has been muted.</p> <p>As of Monday afternoon GMT, Bitcoin traded at $66,300, showing modest gains amidst a landscape dominated by geopolitical uncertainties. Mick Roche, a senior trader at Zodia Markets, noted that events like easing tensions between Iran and Israel have exerted more influence on Bitcoin’s price than the halving itself.</p> <p>Eric Demuth, CEO of Bitpanda, emphasized Bitcoin’s increasing correlation with broader market sentiment, suggesting that retail trading patterns around the halving were not distinctive.</p> <p>Bitcoin’s resilience is partly attributed to its evolving relationship with traditional markets. Regulatory developments, such as the potential approval of spot Bitcoin exchange-traded funds in the U.S., have bolstered investor confidence and contributed to its recovery from previous downturns.</p> <p>Looking ahead, Ben Laidler, global markets strategist at eToro, highlighted the trend towards institutional adoption of Bitcoin. While retail investors currently dominate the market, regulatory changes could pave the way for broader institutional involvement.</p> <p>Despite its growing prominence, cryptocurrencies remain a niche asset class, with regulatory scrutiny and limited real-world utility tempering their mainstream appeal. Market observers are also awaiting regulatory decisions on spot ETFs for Ethereum, though hopes for imminent approval are diminishing.</p> </div> </div> </div> <div class="mt-1 flex gap-3 empty:hidden"> <div class="text-xs flex items-center justify-center gap-1 self-center visible"><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></div> <div></div> <div><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></div> </div>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/3957-e1713798121768.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><div class="flex-1 overflow-hidden"> <div class="react-scroll-to-bottom--css-ynpdl-79elbk h-full"> <div class="react-scroll-to-bottom--css-ynpdl-1n7m0yu"> <div class="flex flex-col text-sm pb-9"> <div class="w-full text-token-text-primary" dir="auto" data-testid="conversation-turn-517"> <div class="px-4 py-2 justify-center text-base md:gap-6 m-auto"> <div class="flex flex-1 text-base mx-auto gap-3 juice:gap-4 juice:md:gap-6 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem]"> <div class="relative flex w-full flex-col agent-turn"> <div class="flex-col gap-1 md:gap-3"> <div class="flex flex-grow flex-col max-w-full"> <div class="min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="d9fc09a1-462f-42f7-9f14-4c3411a4d36f"> <div class="markdown prose w-full break-words dark:prose-invert light"> <p><a href="https://finance.yahoo.com/news/bitcoin-miner-earnings-soar-halving-141806216.html" target="_blank" rel="noopener">Bitcoin</a> miners experienced a windfall as they raked in a staggering $107 million in revenue on the fourth Bitcoin halving day, thanks to the introduction of the Runes token on the blockchain.</p> <p>The Runes protocol, which facilitates the creation of fungible tokens, played a pivotal role in boosting miners’ earnings despite the halving event slashing block rewards by 50%.</p> <p>On April 20, coinciding with Bitcoin’s halving, the Runes token standard was unveiled, driving transaction fees to unprecedented heights, with an average of $128 and daily fees totaling $80 million, according to data from IntoTheBlock. However, this surge in fees was short-lived.</p> <p>By the following day, fees dropped to around $34, still higher than the $18 recorded prior to the halving.</p> <p>The launch of the Runes protocol, synchronized with the halving block, garnered significant attention from the cryptocurrency community, particularly memecoin and nonfungible token enthusiasts.</p> <p>This heightened demand for block space resulted in some of Bitcoin’s most profitable blocks to date, with the first halving block alone accumulating $2.6 million in fees and rewards, as highlighted by community members on social media.</p> <p>Despite the spike in miner revenue and fees, the number of new Bitcoin addresses remained unchanged, indicating that the surge in activity was driven mainly by existing cryptocurrency users rather than new investors, noted Lucas Outumuro, head of research at IntoTheBlock.</p> </div> </div> </div> <div class="mt-1 flex gap-3 empty:hidden"> <div class="text-gray-400 flex self-end lg:self-center items-center justify-center lg:justify-start mt-0 -ml-1 h-7 gap-[2px] visible"> <div class="flex"><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></div> </div> </div> <div class="pr-2 lg:pr-0"></div> </div> <div class="absolute"> <div class="flex w-full gap-2 items-center justify-center"><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="w-full pt-2 md:pt-0 dark:border-white/20 md:border-transparent md:dark:border-transparent md:w-[calc(100%-.5rem)]"> <form class="stretch mx-2 flex flex-row gap-3 last:mb-2 md:mx-4 md:last:mb-6 lg:mx-auto lg:max-w-2xl xl:max-w-3xl"> <div class="relative flex h-full flex-1 flex-col"> <div class="flex w-full items-center"></div> </div> </form> </div>
<figure><img width="1000" height="667" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin whales" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279.jpg 1000w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-768x512.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/550279-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><div class="flex flex-grow flex-col max-w-full"> <div class="min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&]:mt-5 overflow-x-auto" dir="auto" data-message-author-role="assistant" data-message-id="26d71999-79a1-4b62-82ec-d9c5d25f32ac"> <div class="markdown prose w-full break-words dark:prose-invert light"> <p>As <a href="https://www.coindesk.com/markets/2024/04/19/bitcoin-whales-bought-12b-btc-amid-the-price-dip-fueling-the-quick-rebound/?_gl=1*rvqqml*_up*MQ..*_ga*MTI0MjM4MDAxMy4xNzEzNTU3NDI5*_ga_VM3STRYVN8*MTcxMzU1NzQyOC4xLjEuMTcxMzU1NzQ1My4wLjAuMTA5NzQzMzkzNg.." target="_blank" rel="noopener">Bitcoin</a> experienced a dip below $60,000, significant investors seized the opportunity, fueling a rapid market rebound. According to IntoTheBlock, large holders, known as whales, increased their BTC holdings by 19,760 coins, valued at over $1.2 billion, at an average price of $62,500 on Friday.</p> <p>Whales, influential players in the crypto market, are closely watched for their buying and selling patterns, often signaling market movements. Their accumulation during dips historically precedes price surges, suggesting a bullish sentiment.</p> <p>This surge in whale activity contrasts with earlier in the week when investors hesitated to capitalize on market weakness. The subsequent rebound past $65,000, following airstrikes in Iran, was partly attributed to spot BTC buyers.</p> <p>Bitcoin’s consolidation around $60,000 comes ahead of its halving event on April 20, reducing miner rewards and curbing token issuance. Despite uncertainties, opportunistic buying between $60,000-$62,000 levels indicates underlying market support.</p> <p>David Han from Coinbase (NASDAQ:COIN)Institutional notes the dual role of Bitcoin as both a risk asset and a safe haven, contributing to directional uncertainty amid market fluctuations.</p> </div> </div> </div> <div class="mt-1 flex gap-3 empty:hidden"> <div class="text-xs flex items-center justify-center gap-1 self-center visible"><i><span style="font-weight: 400;">Featured Image: Freepik</span></i></div> <div></div> </div> <div><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></div>
<figure><img width="1000" height="563" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/212.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Congress" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/212.jpg 1000w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-300x169.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-768x432.jpg 768w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/212-215x120.jpg 215w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Although former President Donald Trump is better known for various endeavors, his involvement in the world of cryptocurrency has remained somewhat under the radar.</span></p> <p><span style="font-weight: 400;">Recent revelations have shed light on Trump’s crypto portfolio, providing insight into his digital assets.</span></p> <p><span style="font-weight: 400;">Using blockchain analytics, Arkham Intelligence has identified Trump’s wallet address by cross-referencing his financial disclosures. This analysis has unveiled not only Trump’s holdings but also those of various other entities, ranging from Tesla Inc. to Snoop Dogg.</span></p> <p><span style="font-weight: 400;">Trump entered the cryptocurrency sphere in late 2022 when his name and likeness were utilized to promote and sell the Trump Digital Trading Cards <a href="https://cryptocurrencynews.com/trump-nft-collection-trading-volume-plummets-99-ahead-of-criminal-trial/">non-fungible token (NFT) collection</a>. This venture yielded Trump over 1,700 Ethereum (ETH) and Wrapped ETH (WETH) tokens.</span></p> <p><span style="font-weight: 400;">In late 2023, Trump liquidated a portion of his ETH holdings, transferring 1,075 ETH to Coinbase, likely for sale.</span></p> <p><span style="font-weight: 400;">However, Trump’s most significant crypto investment lies in <a href="https://www.coingecko.com/en/coins/maga" target="_blank" rel="noopener">MAGA Coin (TRUMP)</a>, a meme coin endorsing the former president. Initially, 580,000 TRUMP tokens were sent to Trump’s wallet, which, at the time, were worth a modest sum. Yet, the value of TRUMP has surged dramatically in 2024, driven by meme coin frenzy and increased media attention on Trump.</span></p> <p><span style="font-weight: 400;">TRUMP’s price skyrocketed from less than 1 cent shortly after launch to an all-time high of $11.56 within six months, representing a staggering price increase of nearly 150,000%. Consequently, Trump’s TRUMP tokens, initially worth a few thousand dollars, ballooned into a small fortune, reaching highs of over $6.7 million before settling around $3 million.</span></p> <p><span style="font-weight: 400;">However, recent market fluctuations have taken their toll on Trump’s crypto portfolio. Over the past week, TRUMP has experienced a significant decline of over 15%, while ETH has also dipped by approximately 12%. As a result, Trump’s holdings have plummeted by over $1 million in just seven days.</span></p> <p><span style="font-weight: 400;">On April 11, Trump’s crypto portfolio stood at $6.6 million, only to drop to $5.4 million by April 16, marking a loss of over $1.2 million, or more than 18%.</span></p> <p><span style="font-weight: 400;">These losses raise speculation regarding Trump’s next move. While this downturn may be a temporary setback, it could also signal trouble for the future of the TRUMP coin. Moreover, there is uncertainty regarding Trump’s awareness of his crypto holdings. If Trump perceives a potential decline in the token’s value and is cognizant of his position, he may opt to sell, as he has done previously.</span></p> <p><i>Featured Image: Freepik</i></p> <p><a href="https://cryptocurrencynews.com/disclaimer">Please See Disclaimer</a></p>
<figure><img width="696" height="441" src="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Cash" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/04/Bitcoin-Cash-300x190.jpg 300w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitcoin’s forthcoming ‘halving’ is on the horizon, prompting a need-to-know exploration. Here’s a breakdown of what awaits:</span></p> <h2><span style="font-weight: 400;">What is Bitcoin Halving and Why Is it Significant?</span></h2> <p><span style="font-weight: 400;">Bitcoin “halving,” occurring approximately every four years, directly affects bitcoin production. Miners, utilizing specialized computers to solve complex mathematical puzzles, receive a fixed number of bitcoins as a reward upon completion.</span></p> <p><span style="font-weight: 400;">As the name suggests, halving cuts this fixed income in half, thereby reducing the influx of new bitcoins into the market. Consequently, the supply of available coins grows more gradually, aligning with bitcoin’s fundamental characteristic of limited supply. With only 21 million bitcoins ever to exist and the majority already mined, scarcity becomes a defining feature.</span></p> <p><span style="font-weight: 400;">The reduction in supply can potentially drive up bitcoin prices, assuming demand remains steady or increases relative to supply. However, predicting future price movements remains uncertain, as past performance does not guarantee future results.</span></p> <h2><span style="font-weight: 400;">How Frequently Does Halving Occur?</span></h2> <p><span style="font-weight: 400;">According to Bitcoin’s code, halving takes place after the creation of every 210,000 “blocks” during the mining process, roughly translating to a four-year interval. The next halving is anticipated to unfold imminently.</span></p> <h2><span style="font-weight: 400;">Will Halving Impact Bitcoin’s Price?</span></h2> <p><span style="font-weight: 400;">The impact on </span><a href="https://cryptocurrencynews.com/bitcoin-bounces-back-after-geopolitical-tensions-sparked-losses/"><span style="font-weight: 400;">bitcoin’s price</span></a><span style="font-weight: 400;"> remains speculative. Historically, following previous halvings, bitcoin’s price experienced mixed short-term reactions, eventually surging significantly one year later. Nonetheless, market conditions beyond halving contribute to these fluctuations.</span></p> <p><span style="font-weight: 400;">The current halving arrives on the heels of a bullish year for bitcoin, with prices doubling compared to the previous year. Factors such as the introduction of </span><a href="https://www.investopedia.com/spot-bitcoin-etfs-8358373#:~:text=Unlike%20bitcoin%20futures%20ETFs%2C%20a,invest%20in%20the%20digital%20currency." target="_blank" rel="noopener"><span style="font-weight: 400;">spot bitcoin ETFs</span></a><span style="font-weight: 400;"> and persistent demand may further influence bitcoin’s trajectory.</span></p> <h2><span style="font-weight: 400;">What About Miners?</span></h2> <p><span style="font-weight: 400;">Miners face the challenge of adapting to reduced rewards while managing operational costs. Efficiently prepared miners may weather the transition better, but struggling firms might encounter difficulties.</span></p> <p><span style="font-weight: 400;">Consolidation within the mining industry is probable, a trend exacerbated by previous market downturns. Larger miners may expand operations, leveraging technological advancements for efficiency gains.</span></p> <h2><span style="font-weight: 400;">What About the Environment?</span></h2> <p><span style="font-weight: 400;">Bitcoin mining’s environmental impact stems largely from energy consumption. While recent trends indicate a shift towards cleaner energy sources, concerns persist regarding reliance on pollutive energy.</span></p> <p><span style="font-weight: 400;">The looming halving might incentivize miners to seek cheaper, albeit less environmentally friendly, energy sources. Additionally, some firms may explore low-cost energy regions, potentially deploying inefficient mining rigs.</span></p> <p><span style="font-weight: 400;">In essence, Bitcoin’s upcoming halving carries implications for its economy, environment, and industry landscape, yet its exact outcomes remain uncertain amidst the dynamic cryptoverse.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer">Please See Disclaimer</a></p>
<figure><img width="696" height="464" src="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Crypto Markets" decoding="async" loading="lazy" srcset="https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets.jpg 696w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets-300x200.jpg 300w, https://cryptocurrencynews.com/wp-content/uploads/2024/03/Crypto-Markets-336x223.jpg 336w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 984px) 60vw, (max-width: 1362px) 62vw, 840px" /></figure><p><span style="font-weight: 400;">Bitcoin <a href="https://www.youtube.com/watch?v=_5yFXwRjvSs" target="_blank" rel="noopener">rebounded</a> following a period of heightened geopolitical tension, which initially triggered sharp declines in cryptocurrencies.</span></p> <p><span style="font-weight: 400;">The digital asset experienced a temporary drop of over 6% to $59,643 on Friday but later stabilized, reaching $64,640 by 10:55 a.m. in New York. Other tokens like Ether, Solana, and the meme-crowd favorite Dogecoin also regained stability.</span></p> <p><span style="font-weight: 400;">Israel’s retaliatory strike on Iran, occurring less than a week after Tehran’s rocket and drone attacks, caused ripples across global markets. Reports indicating the safety of nuclear facilities in Isfahan, Iran, helped alleviate some concerns. Traditional safe-haven assets such as bonds, gold, and the dollar saw reduced gains, while stocks recovered from session lows.</span></p> <p><span style="font-weight: 400;">The ongoing conflict in the Middle East is overshadowing the anticipated Bitcoin halving scheduled for later on Friday, which will reduce the token’s new supply. Historically, halvings have driven up the price of Bitcoin. However, with Bitcoin reaching a record high in mid-March before the event, there are doubts about whether the expected impact is already factored into the market.</span></p> <p><span style="font-weight: 400;">Stefan von Haenisch, head of trading at OSL SG Pte, suggested that continued violence between Israel and Iran could prompt a general risk-off sentiment across the crypto market. Nonetheless, he noted that it might require a substantial downward movement to reverse the bullish sentiment surrounding the halving.</span></p> <p><span style="font-weight: 400;">Strategists from JPMorgan Chase & Co. and Deutsche Bank AG have indicated that the quadrennial halving is already largely priced in by investors. Ahead of the event, a series of three-month-old spot-Bitcoin exchange-traded funds in the US have recorded five consecutive days of net outflows.</span></p> <p><em>Featured Image: Freepik</em></p> <p><a href="https://cryptocurrencynews.com/disclaimer"><span style="font-weight: 400;">Please See Disclaimer</span></a></p>
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The crypto bull market is well underway, with activity in the VC and early-stage funding sector mounting over the last few weeks as the highly anticipated Bitcoin halving approached. And, as the post-halving phase begins, increasing numbers of new projects are expected to come to market in search of funding. Indeed, the beginning of this […]
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