The rules, which take effect at the end of the year, have yet to spur increased euro-based transactions in crypto markets. Source
EU's MiCA Rules Have Had Little Influence on the European Crypto Market, Regulator Says
Day: April 10, 2024
'What Are We Waiting for'? SEC Commissioner Hester Peirce Discusses Moving Crypto Regulation Foward
Known for her fiery dissenting opinions, “Crypto Mom” discusses how the SEC operates, why she wants to see crypto thrive and her “Safe Harbor” proposal to allow projects to decentralize. Source
Alpen Labs Looks to Scale Bitcoin With Zero-Knowledge Proofs Using $10.6M Funding
Zero-knowledge technology allows for data to be transferred securely and quickly between parties and is used to scale blockchains through rollups. Rollups are networks that operate in conjunction with a blockchain, bundle up transactions, to then be settled on the principal network, which will in theory improve speed and reduce costs. Original
Analyst Says Bitcoin Halving Influence Is No Longer Driving Price, Here’s What Is
Analysts from CryptoQuant have revealed that the influence of the 2024 Bitcoin halving on the price of BTC has notably diminished. According to the crypto analytics firm, the highly anticipated halving event is no longer the key driver for a bullish momentum in BTC. Bitcoin Halving Effects On Prices Is Fading CryptoQuant wrote in a recent research report that the upcoming Bitcoin halving event scheduled this April may not deliver the desired price shock expected by most crypto analysts and investors in the space. According to the analytics firm, the…
Grayscale’s Bitcoin ETF continues pre-halving bleed
All-time spot Bitcoin ETF trading volumes exceeded $200 billion on April 8 despite outflows from Grayscale’s GBTC and a shift in market share. Grayscale’s converted Bitcoin (BTC) ETF shed $154.9 million, contributing to $19.4 million in cumulative outflows from all 10 U.S. spot BTC investment products, per SoSoValue. The data tracker ranked BlackRock’s IBIT fund as the largest intaker of investor demand with $128.6 million in inflows. Bitwise’s $3.7 million followed BlackRock as the second-biggest inflow of the day, as Fidelity came in third with $3 million. Six spot BTC…
Game-Changing Telegram Trading Bot, Bitbot Reaches $2M Mark in Presale – Blockchain News, Opinion, TV and Jobs
London, United Kingdom, April 10th, 2024, Chainwire Mere weeks after hitting seven figures, Bitbot has continued its presale success, now with over $2.1 million in the bag, 80k Twitter/X followers, and over 27k in its Telegram community. For the Bitbot team, familiar with the market landscape and confident in their compelling product offering, this level of engagement and support comes as no surprise. Bitbot (BITBOT) is available to buy on the official site. Back in October, the Telegram trading bot market had under 10k daily active users. However, it has…
Ordinals Defy Bitcoin’s Design Principles but Offer Miners Huge Post-Halving Advantages
Bringing more complex products to the network had the effect of using up more block space, and competition for this space drove up transaction fees. In fact, in May of 2023, during the height of the initial Ordinals craze, transaction fees accounted for a full 43% of the total income per block. Later in 2023, Ordinal demand again spiked and saw fees on individual transactions spike as high as $37, a level not seen in over two years prior. Original
Ethena (ENA) Is ‘The LUNA Of This Cycle’ With 20x Potential
Charles Edwards, the founder of Capriole Investments, has sparked significant interest and debate within the cryptocurrency community. He heralded Ethena (ENA) as “the Luna of this cycle,” but with a crucial difference: its economic fundamentals are deemed sustainable. Edwards elaborated, “It’s 100% collateralized and the yield is variable based on market forces. Two things Luna wasn’t.” He also noted that at its zenith, Luna’s valuation exceeded ENA’s current market cap by more than twenty-fold, yet he cautioned, “ENA is not risk-free, custody and execution risk exist.” Ethena is the Luna…
How the Halving Will Impact the Bitcoin Market
One can, of course, discuss whether the efficient market hypothesis holds or not. But, judging by the options market, it looks like the halving itself will be a non-event. If anything, traders seem to be more interested in hedging downside risk with put options than speculate on a large upside with OTM (out of the money) call options. In the medium term, there is a bullish bias, but we’ve recently seen a slow reduction in the optimism in the options market. Source
Bitcoin sinks below $68k following US inflation data release
March’s annual consumer price index in the U.S. was 3.5%, and Bitcoin reacted with a decline. Against this background, Bitcoin (BTC) experienced a sharp decline, reaching about $67,500. In monthly terms, according to the U.S. Department of Labor, inflation accelerated by 0.4% — significantly higher than the value from February. The Inflation Rate figure continued to rise for the third consecutive month since January. Source: Trading Economics Immediately after the publication of inflation data, Bitcoin’s price fell below $68,000. BTC had already experienced a drawdown, which caused a wave of…