The Grayscale Bitcoin Trust (GBTC) experienced a significant decrease in withdrawals, leading to speculation that the fund may stop selling large amounts of Bitcoin and relieve selling pressure on the broader market. The outflows from GBTC may be attributed to various factors, including bankrupt estates and higher management fees compared to other Bitcoin funds. However, these outflows are seen as a normal phenomenon in previous Bitcoin bull markets, according to on-chain analysis.
Chainlink has launched an app called Transporter that enables the secure cross-chain transfer of cryptocurrencies, addressing the historical challenges of bridging and providing real-time visibility of transactions.
The Avalanche (AVAX) network is experiencing a rise in Total Value Locked (TVL), leading to speculation about whether AVAX can reach $50, with indicators suggesting that AVAX is consolidating before a potential uptick.
The approval of spot bitcoin ETFs in the US has raised the question of whether ether ETFs will also be approved, with experts arguing that it's likely a matter of when, not if, they will be approved despite skepticism about the upcoming SEC decision on May 23.
Robinhood stock slumps after being downgraded to sell due to concerns over its valuation levels and dependence on bitcoin prices.
JPMorgan says there is still no more than a 50% chance of a spot ether ETF approval in May, and if not approved, litigation against the SEC is likely; however, the bank believes spot ether ETFs will eventually be approved.
Shiba Inu Partners with Industry Group to Develop Blockchain Tools Against AI Threats Like Deepfakes
Shiba Inu is partnering with the Content Distribution and Security Association (CDSA) to propose and develop blockchain technology for media and entertainment, focusing on security and content distribution, to address concerns such as deepfakes and plagiarism in the AI sector.
Crypto whales are aggressively accumulating Ethereum (ETH) despite uncertainties surrounding ETF approvals, with significant acquisitions by prominent wallets reflecting a bullish sentiment among major investors; Ethereum's price could potentially surge by 22% if it breaks through a critical neckline, but it may face resistance at the $4,100 level; the deadline for VanEck's Ethereum ETF application is approaching, although the approval of ETFs is seen as unlikely according to CEO Jan van Eck; the aggressive accumulation of Ethereum by crypto whales demonstrates a strong belief in the asset's value despite regulatory hurdles.
BlockDAG's release of the V2 Whitepaper in Las Vegas marks a major breakthrough in the crypto industry, with BlockDAG's $15.8 million presale surge solidifying its position as a trailblazer and setting the stage for significant growth in the market.
The Securities and Exchange Commission's decision to sue Uniswap, a leading company in the DeFi field, is disappointing and could hinder the advancement of this innovative technology in finance.
Shiba Inu (SHIB/USD) experiences a significant surge in burn rate, boosting prices by 3.5% as over 87 million coins are burnt in the past 24 hours, while social activity for the meme coin increases dramatically.
The Securities and Exchange Commission (SEC) has closed its investigation into non-fungible token (NFT) company Dapper Labs, known for its products NBA Top Shot and CryptoKitties, but this does not indicate that all NFTs are safe from scrutiny by the SEC.
Tate Berenbaum, CEO of Community Labs, has launched AO Ventures, a 10-week incubator program focused on developing Arweave and AO, with over $35 million already committed to the investment pool. Additionally, QED Protocol has announced the formation of the L2O Consortium, aiming to bring Bitcoin's security and interoperability to Layer 2 solutions, and DLC.Link has introduced dlcBTC, a safer wrapped Bitcoin alternative utilizing discreet log contracts.
Christian Langalis, known for photo-bombing Janet Yellen with a "Buy Bitcoin" sign during her Congressional testimony in 2017, is auctioning off the sign to fund his startup, with a private offer already valuing it at around $350,000.
Nick Shalek of Ribbit Capital believes Ethereum could become a dominant force in finance due to its potential for tokenization, DeFi, and as a store of value, citing its traction and untapped potential.
China may permit people to buy into bitcoin spot exchange-traded funds (ETFs) in Hong Kong, potentially bringing in fresh global investment and pushing crypto adoption to new heights, as the bitcoin price continues to surge.
Web3 gaming ecosystem Planet Mojo and toy company WowWee have announced a collaboration to create toys and products that connect the physical and virtual worlds, using Digital Collectibles (NFTs) from Planet Mojo's games.
Bitcoin spot ETFs experienced a net inflow of $123 million, with Grayscale's Bitcoin Investment Trust seeing a record-low outflow, suggesting strong investor confidence in these new entrants to the Bitcoin ETF market.
Decentralized crypto exchange Uniswap is facing a potential enforcement action from the U.S. Securities and Exchange Commission, causing its native token to drop in value. Meanwhile, anticipation for spot-based bitcoin ETFs and approval of similar funds in Hong Kong could attract Chinese investors to the crypto market.
Stacks, a project that builds on the Bitcoin blockchain, is set for a major upgrade called the "Nakamoto" upgrade on April 16, which will enhance its speed, security, and DeFi capabilities, and introduce a trustless Bitcoin bridge called sBTC.
Artificial intelligence (AI) is experiencing a resurgence in the crypto sector, leading to significant gains for projects like Bittensor (TAO) and Toncoin (TON), with TAO witnessing a sharp price increase after its listing on Binance. The integration of AI and blockchain is seen as transformative, although some experts remain skeptical.
Uplink, a company aiming to democratize internet access, has raised $10 million in funding to develop its decentralized physical infrastructure network (DePIN) that connects blockchain technology with physical systems and offers tokens as incentives for infrastructural support, aiming to reduce reliance on traditional centralized telecommunication providers.
Layer-1 blockchain Saga Origins plans to publish mature, provocative, and expansive video games in contrast to the inoffensive and family-friendly experiences common in the Web3 industry, aiming to become a publisher and provide developers with freedom of vision while utilizing token incentives to fuel user acquisition.
Grayscale's bitcoin ETF experienced a record-low outflow of $18 million, likely due to increased selling activity and the highest annual fees of any counterpart.
South Africa's financial regulator has begun issuing licenses to cryptocurrency firms, with Luno and Zignaly being among the first to receive approval, as the country aims to regulate the industry with around 60 firms expected to receive approval by April 2023.
MicroStrategy's stock price has surged over 371% in the past year, and analyst Mark Palmer believes that it still has potential for further growth due to the upcoming Bitcoin halving event, which is expected to trigger a supply shock and increase demand for Bitcoin and MSTR stock.
Stablecoins, such as Tether and Circle, drive demand for U.S. Treasury notes and are beneficial to the U.S. economy, according to Cantor Fitzgerald's CEO, Howard Lutnick, who also warns that China may see a digital dollar as a spy wallet.
Edgar Pavlovsky, the founder and CEO of Solana lending protocol Marginfi, has resigned due to disagreements with internal and external practices, leading to a significant exodus of funds from the platform and an opportunity for competing protocol Solend to attract disenchanted users.
Bitcoin stages a mini-recovery after US President Joe Biden expresses optimism over a rate cut, with the price trading at around $70,800, up 2.5% on the day.
Traders expect tokens such as STX, RUNE, and ORDI to rise as Bitcoin's halving event could lead to increased bets on related networks and ecosystem tokens, forming part of a "barbell strategy" consisting of both serious and non-serious projects.
Bitcoin's price has increased by nearly 100% in six months, surpassing major assets like Nvidia and the S&P 500, leading some traders to consider other investments as "junk" compared to the cryptocurrency.
Dogecoin figure Mishaboar warns DOGE holders about the risks of leverage and derivatives in cryptocurrency, especially amid anticipated market volatility.
Bitcoin's value increased by over 4% as the Grayscale Bitcoin Trust witnessed its lowest daily outflow, suggesting a potential stabilization in the market amidst volatile conditions.
Bitcoin remains above $70K as Asia begins its trading day, with the market digesting a higher-than-expected U.S. CPI and slowing outflows from the Grayscale Bitcoin Trust (GBTC), while decentralized predictions platform Polymarket shows mixed opinions on the number of rate cuts expected by the end of 2024.
The BlackRock iShares Bitcoin Trust (NASDAQ:IBIT) is well-positioned for the upcoming Bitcoin halving, presenting a strong investment opportunity, as historical data shows that significant price surges often occur after halving events.
Renowned crypto analyst Ali Martinez predicts a consolidation phase for Cardano ADA/USD before a potential breakout to $1.70.
Bitcoin meme coin Pups has surged 1,056% for the week, reaching a market capitalization of over $365 million, ahead of the Bitcoin halving and the launch of the Runes protocol.
Analyst Altcoin Sherpa predicts that Fantom (FTM) could increase by more than 15% this year, while also expecting Ethena (ENA) and Core (CORE) to experience positive price movements, and remains bullish on Mantra (OM).
The Solana network is experiencing congestion and transaction failures due to unprecedented demand, but developers are working on fixes to improve performance in the coming days.
Tron's (TRX) price is expected to receive a boost from bullish investors and market cues, with technical indicators suggesting a potential rise, although breaching the $0.121 resistance level remains a challenge.
Wormhole's native W token has plummeted over 50% in value since its debut airdrop, with the price falling to $0.82 from $1.66, despite generating excitement in the DeFi community.
Bitcoin (BTC) reversed its initial dip and climbed back to $70,000, outperforming U.S. equities and gold, after a government report showed higher-than-expected U.S. inflation data for March, highlighting its role as a hedge against inflation.
Bitcoin Price Soars to New Highs as Whales and Investors Snap Up Coins Ahead of Major Scarcity Event
Demand from Bitcoin whales, who are the largest holders of the cryptocurrency, has reached its highest level ever, surpassing the creation of new Bitcoin, which is likely to drive the price up after the upcoming halving event and due to increased demand from ETFs.
Billionaire Mike Novogratz predicts a surge in Bitcoin and precious metals due to potential interest rate cuts, but warns of the social risks of rapid wealth accumulation in cryptocurrencies.
The US Securities and Exchange Commission has warned Uniswap Labs, the creator of the largest decentralized trading platform on Ethereum, that it may face enforcement action for operating as an unregistered exchange and broker dealer.
Steven Nerayoff, former Ethereum adviser, is seeking $9.6 billion in damages from the U.S. government, claiming that he was framed by the FBI and federal prosecutors to obtain evidence on prominent individuals in the crypto industry.
Bitcoin may experience a painful scenario according to a top analyst, who suggests that the cryptocurrency will reach $76,000 before dropping to $64,000, and then rallying to a new all-time high of $82,000.
California congressman Adam Schiff has proposed the Generative AI Copyright Disclosure Act, which would require developers of AI models to disclose all copyrighted works used to train their systems, in order to protect the rights of creators and ensure ethical guidelines are followed in the development of AI.
Uniswap's UNI token experiences a sharp drop in price after receiving a Wells notice from the SEC, causing a 9% decrease in value within an hour.
Ripple's XRP has surpassed Circle's USDC in market capitalization, demonstrating resilience and instilling investor confidence, with on-chain data suggesting that bulls are satisfied with its current position.
