💰 Bitcoin’s weekend dip shakes out short-term holders

Bitcoin market experienced a tumultuous dip, with prices plunging from $70,090 to $64,400 before settling around $66,000. Market watchers are keenly observing the behaviors of short-term and long-term Bitcoin holders—their reactions often providing clues about future trends. Short-term holders appear rattled, hastily selling off their Bitcoin at a loss as indicated by a sharp drop in their SOPR metric. On the flip side, long-term holders continued to display resilience amid downturns.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

🟠 Former New York Fed officer joins Binance.US board

Crypto exchange Binance.US announced Tuesday it has appointed a former New York Federal Reserve officer, Martin Grant, to its Board of Directors for BAM Management US Holdings to help oversee the firm’s financial reporting processes and internal controls. Grant is a former chief compliance and ethics officer at the New York Fed with over three decades of regulatory, legal and compliance experience in government and the digital assets industry.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Bitcoin dips below $60,000 in wake of Powell's comments, even as halving draws near

The world's largest cryptocurrency by market capitalization dropped below the $60,000 threshold even as the bitcoin mining halving looms closer. Bitcoin hit $59,889 around 12:00 p.m. ET on April 17, according to The Block's Price page for bitcoin. The token rebounded to just over $60,300 at 1:05 p.m. ET on the same day, experiencing a decrease of $2,423, or 3.9%, in the past 24 hours.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Bitcoin mining firm Foundry plans to redistribute halving 'epic sat' proceeds

Foundry Digital’s USA Pool Team said it will distribute profits to its members if the pool mines the first satoshi in the halving block, according to an email screenshot posted by The Mining Pod host Will Foxley on X. “We’ve taken the steps to isolate the epic sat if Foundry USA Pool does mine this block, and we will make reasonable efforts to monetize it and distribute 100% of the proceeds to our pool members,” the team said in the email.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 JP Morgan CEO calls Bitcoin ‘Ponzi Scheme’ despite serving as Authorized Participant for BlackRock ETF

JPMorgan Chase CEO Jamie Dimon reiterated his strong skepticism toward Bitcoin on April 18, calling it a “fraud” and a “Ponzi scheme” despite the lender’s involvement in BlackRock’s spot BTC exchange-traded fund (ETF). Dimon, who has a history of critiquing the digital currency, made the latest comments during an interview on Bloomberg TV, where he expressed doubts about Bitcoin’s utility and legitimacy as a form of money.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 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).

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Human Rights Foundation launches Finney Freedom Prize to reward contributions to Bitcoin for 110 years

The Human Rights Foundation (HRF) unveiled the Finney Freedom Prize on Bitcoin’s fourth halving day to celebrate the flagship crypto for enabling greater financial freedom for the world. The award is designed to honor significant global achievements in Bitcoin and human rights, reflecting Finney’s vision of using technology as a tool for liberation. The inaugural Finney Freedom Prize was awarded posthumously to Hal Finney, recognizing his pioneering work during Bitcoin’s first halving era from 2009 to 2012.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

🟠 Binance tax evasion trial moved to May 17 in Nigeria

The tax evasion trial in a Nigerian court involving cryptocurrency exchange Binance and two of its executives has been adjourned to May 17. This delay occurred because the exchange had not yet been formally served with the charges. The FIRS lawyer argued that Gambaryan should represent Binance as the primary defendant, had been served, given that both Binance and its executives were charged together.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 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.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Shiba Inu (SHIB) Torches 392M Tokens As Burn Rate Shoots 57,000%

Shiba Inu’s (SHIB) burn rate, a crucial growth metric, has seen more than 57,000% in the last 24 hours, indicating a major push to boost its deflationary status. This implies that 396,286,654 SHIB have been burned within 24 hours. This burn rate is one of the largest that the dog-themed altcoin has seen in the last few weeks. On April 14, Shiba Inu saw a massive surge in its burn rate metrics that contributed to solidifying its deflationary status.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Bitcoin miner Hut 8 receives 'buy' rating and new price target from Benchmark

Benchmark has initiated coverage of bitcoin miner Hut 8, giving the company a "buy" rating and a price target of $12. In its evaluation, Benchmark factored in the company's "diversified business model" following the completion of its merger with U.S. Bitcoin Corporation. This includes multiple new revenue streams from self-mining, managed services, hosting, high-performance computing and artificial intelligence.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 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.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Ripple challenges SEC’s $2 billion fine, proposes $10 million settlement instead

Crypto company Ripple has responded to the Securities and Exchange Commission’s (SEC) pursuit of nearly $2 billion in fines by advocating for a different approach. Stuart Alderoty, Ripple’s Chief Legal Officer, conveyed the company’s stance in a statement on the X (formerly Twitter) platform, stating that the case “had no allegations (or findings) of recklessness or fraud.”

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

⚫️ Solana DEX aggregator acquires Ultimate Wallet as part of mobile push

Solana DEX aggregator Jupiter announced Tuesday it has acquired the self-custody crypto wallet firm Ultimate Wallet as it aims to onboard millions more users with a mobile expansion. Along with posting news of the acquisition to X, Jupiter said its "mobile initiative to onboard tens of millions of users is beginning" and will be "ready for beta in May." Jupiter said that acquiring Ultimate Wallet fits into its mobile strategy.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 BlackRock 'gaga' over spot bitcoin fund that accounts for 24% of firm's total ETF flows: analyst

Bloomberg Senior ETF Analyst Eric Balchunas is convinced BlackRock is thrilled with the success of its spot bitcoin ETF, ticker IBIT, and backed up his assertion with some compelling data. "I know they're gaga over this IBIT, I mean this ETF IBIT is 24% of all of their flows out of 1,000 ETFs globally," Balchunas said Wednesday during a online panel discussion about Hong Kong's recently approved spot crypto ETFs. "You know that's getting the attention of even Larry Fink."

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 FTX to Auction Off Remaining 💰 Solana (SOL) Tokens: Report

Bankrupt cryptocurrency exchange FTX is looking to offload its remaining Solana native tokens, SOL, via an auction this week. According to a Bloomberg report, people familiar with the matter said the bankruptcy estate would auction an unspecified amount of SOL in the hopes of receiving a higher price than that which they would have gotten through direct sales.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

🇺🇸 US SEC expected to deny spot 🪙 Ether ETFs in May

The United States Securities and Exchange Commission (SEC) will most likely deny spot Ether exchange-traded funds (ETF) in May, according to a new report. Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

🇺🇸 Consensys sues SEC, seeks court declaration that 🪙 Ethereum is not a security

Consensys filed a lawsuit against the US Securities and Exchange Commission (SEC) on April 25 over allegations that the watchdog has overstepped in its authority in trying to regulate Ethereum (ETH). The lawsuit alleges that the SEC aims to unlawfully regulate Ethereum through enforcement actions against various companies, including Consensys, constituting “aggressive and unlawful” overreach. Consensys intends to prove that the SEC does not have legal authority to regulate ETH, user-controlled software interfaces, or the Ethereum blockchain more broadly.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained

💰 Bitcoin halving was 'not priced in' despite recent correction, analyst says

The bitcoin halving that occurred this past Saturday has not yet resulted in the expected price increase stemming from the subsequent supply crunch. Instead, the world's largest digital asset by market cap has fallen by over 7% in the past seven days, according to The Block's Price Page. The core U.S. Personal Consumption Expenditures (PCE) Price Index, which excludes volatile food and energy prices, held steady at 2.8% on an annual basis, surpassing analysts' estimate of also 2.6%.

Source

https://www.tg-me.com/Blockchain Explained/com.Blockchain_Explained