Caroline Crenshaw may continue to serve at the SEC for an additional 18 months after her term ends in June if the White House doesn’t nominate a replacement. Source: https://cointelegraph.com/news/sec-commissioner-anti-crypto-replacement
Month: April 2024
US Bitcoin ETFs: Daily Outflow Hits $120M
Total net outflows from 11 U.S. spot bitcoin ETFs reached $120 million on Wednesday, with eight products recording zero flows, a trend deemed normal by analysts. Grayscale’s GBTC witnessed $130.42 million exiting the converted bitcoin ETF, while Fidelity and Ark Invest’s funds were the sole recipients of inflows, totaling approximately $10 million. Among the eight funds with zero flows were…
BONK, POPCAT and Solana memecoins stay green even as Bitcoin price drops
Memecoins in the Solana ecosystem defy the recent bearish downtrend in the crypto market by managing to generate double-digit gains. Source: https://cointelegraph.com/news/bonk-popcat-and-solana-memecoins-stay-green-even-as-bitcoin-price-drops
Bitcoin Ownership Surges as Small Addresses Hit Record High
A recent report from Fidelity Digital Assets highlights a substantial increase in the number of Bitcoin addresses holding at least $1,000 worth of Bitcoin (BTC). Fidelity’s analysts reveal that this segment soared to an unprecedented 10.6 million wallets in mid-March, marking a doubling from the 5.3 million addresses recorded in 2023. The surge in Bitcoin addresses with smaller holdings suggests…
BlackRock’s Bitcoin ETF Sees Inflow Boom End
For 71 consecutive days, BlackRock Inc.’s Bitcoin fund experienced an impressive streak, accumulating nearly $18 billion in one of the most significant exchange-traded fund launches in history. However, investor interest has waned as the fervor surrounding cryptocurrencies subsided. Data compiled by Bloomberg reveals that daily inflows into the ETF, identified by the ticker IBIT, dwindled to virtually zero on Wednesday.…
Immutable zkEVM Offering Up to $50 Million in Token Rewards to Ethereum Gamers
Ethereum gaming platform Immutable announced on Thursday the launch of The Main Quest—a rewards program that will incentivize players with up to $50 million worth of token rewards for playing games and interacting with its new zkEVM network. Billed as the largest crypto gaming rewards program to date, The Main Quest will reward users of the recently launched Immutable zkEVM…
Bitcoin Achieves All-Time Low Inflation Rate Post-Halving
Bitcoin’s inflation rate has plummeted to a historic low of approximately 1.74% following the recent Bitcoin halving. With 93.3% of Bitcoin already mined, amounting to 19.6 million out of a possible 21 million BTC, the scarcity element is poised to escalate demand, potentially propelling the leading cryptocurrency’s price surge. In contrast, fiat currencies grapple with higher inflation rates due to…
Runes Dominate 68% of Post-Halving Bitcoin Transactions
Runes, resembling BRC-20s, emerge as a significant protocol utilizing the Bitcoin network, claiming a substantial 68% share in Bitcoin transactions since the halving. However, Bitcoin miners face diminishing returns amidst this surge. Similar to BRC-20s, Runes operates by compensating fees in Bitcoin to mint new tokens. Differing from Ordinals’ “inscription” account model, Runes utilizes the Unspent Transaction Output (UTXO) framework…
‘No ETF Has Ever Done Anything Close’ — Analyst Highlights Record GBTC Outflows, Surpassing All ETFs
While Blackrock’s spot bitcoin exchange-traded fund (ETF), IBIT, experienced a continuous influx for 71 days before halting this week, Grayscale’s Bitcoin Trust (GBTC) holds the record with 72 consecutive days of outflows, surpassing all other ETFs on record. “No ETF has ever done anything close to that,” observed Eric Balchunas, Bloomberg’s senior ETF analyst, on […] Source: https://news.bitcoin.com/no-etf-has-ever-done-anything-close-analyst-highlights-record-gbtc-outflows-surpassing-all-etfs/
Stripe bringing back crypto payments, this time with a stablecoin
Stripe customers will be able to pay with USDC beginning this summer, president Jack Collison said, after the company canned BTC payments in 2018. Source: https://cointelegraph.com/news/stripe-brings-back-crypto-payments-stablecoin