Venezuela's PDVSA shifts to crypto, using USDT for oil trades as a sanction evasion strategy, according to a new report.
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Markets
Price analysis 4/22: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA
Bitcoin and altcoins have turned bullish following the BTC supply halving. Are new all-time highs in the making?
The S&P 500 Index (SPX) fell 3.05% last week as hopes for a handful of interest rate cuts by the United States Federal Reserve dwindled due to elevated inflation readings. In comparison, Bitcoin (BTC) declined just 1.1% last week, indicating strength.
Capriole Investments founder Charles Edwards said in a X post that Bitcoin’s raw electricity cost per mined block is $77,400. He added that Bitcoin’s price remains below the “electrical cost” for only about a couple of days every four years, which means that Bitcoin is “trading at a DEEP DISCOUNT.”
Bitcoin is likely to remain volatile in the next few days as the bulls and the bears battle it out for supremacy. If Bitcoin remains range-bound in the near term, it may attract buyers toward select altcoins that may resume their up move.
Crypto Assets Record 7-Day Upticks: NEAR Rises 33%, BONK Up by 32%
According to the most recent figures, the value of the cryptocurrency market has reached $2.43 trillion after a 2.62% increase in the last 24 hours. Bitcoin and ether have risen by 4% and 3.5%, respectively. NEAR experienced a significant uptick of 33% this past week, while BONK escalated by 32.7%. Digital Currency Market Grows: 17 […]Crypto investment products see outflows for second consecutive week — CoinShares
Bitcoin funds led outflows among crypto investments over the past week, with $192 million exiting the market ahead of the halving event.
Investments in digital asset funds have declined for the second consecutive week, with $206 million in withdrawals between April 15-19, according to data from digital asset investment firm CoinShares.
Bitcoin (BTC) funds led outflows over the past week, with $192 million exiting the market ahead of the halving event. Ether (ETH) investment products also experienced outflows of $34 million, marking their sixth consecutive week of negative flow.
Investment in blockchain equities has also been declining, with the sector recording its 11th consecutive week of outflows, totaling $9 million.
Crypto funds see $206 million in weekly outflows led by US Bitcoin ETFs: CoinShares
Crypto funds see a $206m weekly outflow, with US ETFs contributing significantly amid expectations of sustained high interest rates.
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Bitcoin transaction fees stabilize after fourth halving
Bitcoin transaction feese initially faced a short-term surge post-halving, but the network's transaction fees have now stabilized.
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Bitcoin turns bullish after the halving — Will BNB, NEAR, MNT and RNDR follow?
Bitcoin surprised traders with a strong rebound after the halving, possibly setting a bullish path for BNB, NEAR, MNT and RNDR to follow.
Bitcoin (BTC) recovered sharply from the intra-week lows and is likely to close the halving week with a minor loss of roughly 1%. According to Farside Investors data, the spot Bitcoin exchange-traded funds witnessed an inflow of $30.4 million a day before the halving, halting the five successive days of outflows.
The Grayscale Bitcoin Trust (GBTC) has seen the majority of outflows, while BlackRock’s iShares Bitcoin Trust (IBIT) has continually attracted investments. Bloomberg Intelligence ETF analyst Eric Balchunas said in a X post that the IBIT has seen “69 days of straight inflows.”
The Bitcoin ETFs inflows are likely to grow from strength to strength in 2024. Bitwise CEO Hunter Horsley believes that several wealth management firms will own Bitcoin ETFs by the end of 2024. He highlighted that the firms were “long only” and will be “an amazing new constituent in the Bitcoin space.”
Meme Coins Outperform Broader Crypto Market With Notable Gains
In the past 24 hours, the meme coin crypto economy has risen by 9.6% against the U.S. dollar. The Solana-based meme token BONK emerged as the day’s top performer, climbing 41.8%, while FLOKI saw an 18.7% increase. Top Meme Coins Register Impressive Gains As of April 21, 2024, the meme coin sector is experiencing significant […]Token launchpad Fjord Foundry raises over $15 million in its token pre-sale
The FJO registered the largest investment in 2024 through an LBP, just one month after securing investments from notorious names.
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Record Q1 crypto volatility is ‘not a new normal’ — Nickel Digital
Nickel Digital Asset Management has cautioned investors not to expect a repeat of its Diversified Alpha fund’s exceptional first-quarter performance, which saw the $80 million vehicle return a net 11% amid heightened crypto volatility.
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