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💰 Bitcoin Breaks Daily Transaction Record Days After Halving
The new record comes three days after the Bitcoin Halving, coinciding with the launch of Runes. The launch of Runes sparked a rapid increase, demonstrating growing interest and utility in cryptocurrencies, setting a new all-time high in Bitcoin’s transaction activity. Runes, a new token standard on the Bitcoin blockchain, has dominated transactions since its launch following the halving on April 20, accounting for over two-thirds of all Bitcoin transactions. With more than 2.38 million transactions processed, Runes make up 68% of the total.
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💰 ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)
An "epic sat"—an exceptionally rare satoshi, the smallest unit of bitcoin, from Bitcoin's fourth halving block—sold for over $2 million. This milestone not only signifies Bitcoin's fourth halving but also includes a block identified as an epic 'Rare Satoshi' by the Ordinals numbering system," CoinEx Global wrote on the satoshi's auction page, adding on social media, "This auction isn't just a bidding event; it marked the community recognition, media attention and widespread embrace of Bitcoin."
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💰 Bitcoin Runes made up 57.7% of transactions on halving day
Bitcoin halving, Runes have sparked intense debate and speculation by embedding rich data within Bitcoin's ledger, shifting how users interact with the blockchain. By leveraging transaction augmentation, Runes can enhance transactions with diverse data, from simple messages to complex scripts, showing a remarkable capability distinct from other Bitcoin-enhancements like Ordinals and BRC-20 tokens.
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🇺🇸 US 💰 Bitcoin Mining Stocks Surge After the Halving
On Monday, crypto-related stocks in the United States saw significant increases, reflecting a broader market rally just days after the Bitcoin halving. According to data from Google Finance, the country’s five largest publicly traded Bitcoin miners, including Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), Cipher Mining (CIFR), and Hut 8 (HUT), all witnessed substantial gains over the April 22 trading day.
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💰 BlackRock Spot Bitcoin ETF Surpasses MicroStrategy, Holds $18B in 273,596 BTC
The global investment management firm now boasts an impressive stash of 273,596 BTC, valued at a staggering $18 billion, all earmarked for its spot Bitcoin exchange-traded fund (ETF). This significant accumulation positions BlackRock spot Bitcoin ETF as a formidable force in the market, overshadowing competitors and solidifying its status as a major player in the cryptocurrency investment arena.
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💰 93 Blocks, $71 Million in Fees: Bitcoin Mining Revenue Booms Post-Halving
Since the halving, miners have successfully extracted 93 blocks, accumulating a significant 1,087.99 bitcoins valued at approximately $71.04 million solely from transaction fees. As of 2:00 p.m. EDT on Saturday, the current metrics indicate a high-priority transaction cost of 492 satoshis per virtual byte (sat/vB), equivalent to $44.83 per transfer.
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💰 After Halving Event, Bitcoin Transaction Fees Soar to Over $240
Upon reaching block height 840,000, when the mining pool Viabtc collected 37.626 bitcoin in fees worth $2.39 million, the expense for onchain transfers climbed, surpassing $240 per transaction. Block 840,003 recorded 16.06 bitcoins in fee payments, and block 840,004 accumulated 24 bitcoins in fees valued at over $1.5 million.
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💰 Bitcoin Halving Is Not a Bullish Event, Says 10x Research Analyst
Bearish signals are looming over the crypto market these days and will almost certainly push prices down in the short term, well-known research analyst Markus Thielen said. “We don't have the typical drivers anymore that really brought prices from the $40,000 to the $70,000 region,” he said. The main reason behind this, he added, is the spot bitcoin ETFs, which have seen little to no new inflows over the past few weeks as investors have moved past the initial euphoria of the January launch.
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🏦 Kraken launches self-custodial mobile wallet and releases its open-source code
The crypto exchange giant Kraken released a self-custodial mobile wallet called Kraken Wallet, and it even published the app's code at launch. Kraken Wallet lets users manage their NFTs, tokens and DeFi positions across Bitcoin, Ethereum, Solana, Optimism, Base, Arbitrum, Polygon and Dogecoin, according to a release from Kraken. Users can also connect to popular decentralized applications and access round-the-clock customer service support.
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💰 Bybit Report Suggests Bitcoin Exchanges to Run Dry in 9 Months
As the crypto landscape evolves, a significant tightening in bitcoin’s available supply on exchanges has emerged, hinting at just nine months of reserves left. Bybit’s latest halving report unveils the reasons behind this tightening grip, indicating a looming scarcity that could reshape market dynamics.
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🪙 Ethereum validator queue hits highest level since September 2023
Staking on Ethereum has become all the rage recently with the recent popularization of restaking, which we talked about a bit last week. In a fun update, EigenLayer did launch on the Ethereum mainnet last week along with its EigenDA data availability layer. Coinbase Cloud and Google Cloud are among the protocol’s first operators, and it announced six actively validated services that will be secured through EigenLayer’s restaking on Friday.
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🇳🇬 Nigeria’s 🟠 Binance crackdown threatens Web3 industry
Nigeria is feeling the consequences of actions against Binance executives, with investors withdrawing from deals and partnerships, particularly in the web3 sector. They mention Nigeria’s perceived lack of safety for business and government hostility, citing the Binance case as evidence, according to Lucky Uwakwe, the chairman of Nigeria's Blockchain Industry Coordinating Committee (BICCoN).
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💰 Bitcoin’s halving countdown continues with one week to go
Bitcoin’s next halving event is now just one week or approximately 1,000 blocks away, according to The Block’s Bitcoin Halving Countdown page. The estimated countdown is based on Bitcoin's average block generation time of 10 minutes, setting a potential date of April 20 at around 9 a.m. UTC (5 a.m. ET), to reach the next halving block height of 840,000, as things stand. Bitcoin’s next halving event will see the subsidy reward for miners on the network drop from 6.25 BTC to 3.125 BTC per block.
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🪙 Chainlink launches Transporter bridging app for moving crypto cross-chain
Decentralized computing platform Chainlink has launched a bridging app for moving crypto tokens and messages between blockchains, powered by its cross-chain interoperability protocol. Built in collaboration with the Chainlink Foundation and developer Chainlink Labs, the “Transporter” app aims to provide a user-friendly interface for submitting and monitoring cross-chain transactions on CCIP, according to a statement shared with The Block.
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💰 Hong Kong's Incoming Spot Bitcoin ETFs Could Be 'Big Deal.'
Heightened anticipation for spot-based bitcoin ETFs in the U.S. and the eventual inflows supercharged bitcoin's run-up to new all-time highs, and now Hong Kong regulators reportedly are inching closer to approving similar funds, news that thus far has been mostly unnoticed in crypto circles. These vehicles, however, could open the floodgates for Chinese investors looking for a new haven next to gold and overseas real estate and stocks in which to store their wealth.
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💰 Bitcoin options 'in line with previous halvings' and bullishly pricing calls higher than puts: analyst
The positioning of bitcoin options is in line with previous halvings, with the market skewing bullish and pricing calls at higher levels versus puts for the end-of-June 2024 expiry, an analyst said. A put-call options ratio below one indicates that the call volume exceeds the put volume, signifying bullish sentiment in the market. The bitcoin put-call skew is negative as of May and beyond, which means calls are relatively more expensive — indicating bullish sentiment.
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🪙 Tether Will Freeze Venezuelan Wallets Being Used to Evade US Sanctions
Tether has announced that all wallets associated with Venezuela’s attempts to bypass U.S. sanctions on oil exports will be frozen. The decision follows recent reports indicating an increased use of Tether’s USDT by Venezuela’s state-run oil company, PDVSA, to avoid sanctions imposed by the United States. According to a Reuters report, Venezuela’s state-run oil company, PDVSA, transitioned to using Tether’s USDT after facing renewed sanctions on its oil exports.
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💰 Mt. Gox's Looming $9B Payout Could Weigh on Bitcoin Prices, K33 Research Warns
The crypto market has mostly shrugged off last week's correction, but there's a possible catalyst ahead that could weigh on prices through the next few weeks, putting a rally higher in jeopardy. Mt. Gox, a crypto exchange that imploded due to a hack in 2014, is gearing toward distributing 142,000 bitcoin (BTC) worth roughly $9.5 billion and 143,000 bitcoin cash (BCH) worth $73 million to creditors, posing a substantial overhang on digital asset prices.
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💰 Standard Chartered Analyst Predicts Bitcoin Price By Year End Can Reach $150,000
Geoff Kendrick of Standard Chartered emphasizes the transformative impact of these developments, citing increased optimism within the financial sector and the broader cryptocurrency landscape. Kendrick predicts a target of $150,000 for Bitcoin price by year end, reflecting a bullish outlook even in the absence of similar performance from other cryptocurrencies.
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🇪🇺 MiCA will transform the EU into a crypto adoption hub this year
Markets in Crypto-Assets Regulation (MiCA) was signed into law in June 2023, a framework for twenty-seven countries was finally in place. Although this was a landmark piece of legislation for a region that represents nearly twenty percent of the global economy, MiCA is serving as the beginning of a twelve to eighteen-month process of transition, transformation, and customization; that’s because MiCA includes a “substantial number of Level 2 and Level 3 measures,” as noted by the European Securities and Markets Authorities, that still must be developed and refined.
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🇰🇷 Crypto.com denies reports that South Korean regulator is delaying local unit leadership change
Crypto.com has denied a local media report that said the firm might have encountered a roadblock in entering the South Korean crypto market, as the local financial regulator could be deferring the approval of a local entity's transition of executive leadership. The global cryptocurrency exchange announced on April 2 that it is launching a local trading platform in South Korea, which hosts one of the largest crypto markets in the world. The
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💰 Bitcoin Miners Ramp Up Hashrate as Halving Nears, Network Hits 653 EH/s Record
Just before the upcoming block reward halving, with only 72 blocks left until reaching block height 840,000, bitcoin miners have significantly boosted their hashrate. As of 8:50 a.m. EDT on April 19, 2024, the hashrate soared to a record 653 exahash per second (EH/s).
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💰 Bitcoin to Hit $122,000 in 2024, Predicts Finder’s Latest Survey of Experts
Finder’s latest survey on bitcoin’s (BTC) price involved a unique panel of 31 crypto and fintech experts. The results suggest that BTC could reach a peak of $122,000 in 2024, and then settle at $109,000 by year’s end. Nick Ranga, the senior crypto and forex analyst at Forextraders, attributes the current uptick in BTC’s value to growing institutional engagement. Ranga is among those experts who foresee BTC reaching its zenith once more in 2024, ultimately closing the year around the $100,000 mark per unit.
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💰 Funding rate turns negative as Bitcoin drops below $64k
In the volatile world of cryptocurrency, perpetual futures are a go-to for many traders. These contracts don't expire, relying instead on a mechanism called the funding rate to balance market forces. Recently, Bitcoin's perpetual futures saw a dramatic shift. Typically steadied by consistent positive funding rates, a sudden plunge into negative territory coincided with geopolitical turmoil and a significant drop in Bitcoin's price.
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🇭🇰 Hong Kong spot bitcoin ETFs could go live as soon as this month: OSL
Hong Kong asset managers, including units of China Asset Management (ChinaAMC) and Harvest Global, may soon launch their spot bitcoin exchange-traded funds as early as later this month, OSL confirmed with The Block today. “Reports suggest a spot ETF may start in late April, with a spot ETF following shortly after,” said Patrick Pan, chairman of the board and CEO of OSL. “All parties are working expeditiously to complete the process. However, exact dates remain unconfirmed at this time.”
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🇭🇰 Hong Kong approves first batch of spot bitcoin, ether ETFs in drive to become crypto hub
Hong Kong approved the applications of several spot bitcoin and ether exchange-traded funds on Monday, as the region continues its drive to become a regional crypto hub. China Asset Management, a major Chinese asset manager, said that its Hong Kong unit has received approval in principle from the Hong Kong Securities and Futures Commission to offer retail asset management services related to spot crypto ETFs.
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🇬🇧 Chinese Fraud Victims Seek Government Aid in Recovering 61,000 BTC Seized by UK Law Enforcement
A group of Chinese victims of a $6 billion fraud scheme have requested assistance from their country’s foreign ministry in recovering 61,000 bitcoins, seized from a fraudster and her associate. The fraud victims have strongly opposed attempts to transfer the ownership of these bitcoins to the U.K. government.
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💰 Bitcoin and Ethereum ETFs could launch in Hong Kong before halving
Hong Kong is poised to approve the launch of new exchange-traded funds (ETFs) that will directly invest in Bitcoin and Ether potentially as soon as Monday. This key development, as reported by Bloomberg, involves key financial players, including an international branch of China’s Harvest Fund Management Co. and a partnership between Bosera Asset Management (International) Co. and HashKey Capital.
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💰 Bitcoin price gains despite a pullback in global markets as ECB holds rates steady
Bitcoin's price gained on Thursday after the European Central Bank (ECB) voted to keep interest rates on hold for the fifth consecutive meeting. Although bitcoin typically closely tracks risk-on assets like major equity indices, the cryptocurrency's upward trajectory came as global markets inched down. The Dow Jones Industrial Average fell for a fourth day in a row, the S&P 500 declined 1% and the Nasdaq Composite dropped 0.1%. In Europe, the regional Stoxx 600 index fell 0.7%, and London's FTSE fell 0.67%.
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🪙 VanEck, CoinShares CEOs doubt SEC will approve spot Ethereum ETFs: CNBC
Firms that gained the Securities and Exchange Commission's approval for a spot bitcoin exchange-traded fund are not feeling very confident that the agency will greenlight proposals for an ether product, according to reporting from CNBC. VanEck CEO Jan van Eck told CNBC in an interview posted on Tuesday that he expected the VanEck Ethereum ETF to be rejected in May – the first deadline approaching for when the SEC will decide whether to allow those products to pass.
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