Coolhand (@coolhand) • Hey

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This week's crypto market highlights: ⚫ SEC delays Invesco ETH ETF decision ⚫ China considers access to HK Bitcoin ETFs ⚫ Gensler: Crypto is notable fraud source ⚫ Nigeria demanded $ 150m to end Binance probe ⚫ US House votes against SEC crypto policy
Coinbase saw trade volume in Q1 more than doubled to $ 312 billion, with institutional volume increasing faster than retail, accounting for 82% share of the total.
❤️ https://twitter.com/coolhand91111/status/1788707640513880419?t=J8N9Rjb96f8_ju8lXVLhxQ&s=19
TikTok filed a lawsuit in the US Court of Appeals for the District of Columbia, arguing that the law signed by Joe Biden violates the US Constitution on several grounds, including running afoul of the First Amendment's free speech protections.
This week's crypto market highlights: ⚫ SEC labels ETH security since 2023 ⚫ BTC, ETH spot ETFs launch in Hong Kong ⚫ Beribit clients protest in Moscow ⚫ CZ’s sentencing hearing details ⚫ CZ sentenced to 4 months ⚫ FED’s FOMC meeting notes
Grayscale (GBTC) Daily BTC Flows: +63.1m, first inflow since ETF conversion
Bitcoin leaped over $ 61,000 in the hour that followed the release of a US employment report, showing unemployment is higher than expected.
The current BTC price is the average purchase price of the Spot Bitcoin ETF buyers, ~$ 57K to ~$ 58K
Bitcoin and a handful of altcoins were down around 7%-10% over the last 24 hours. Here are several factors: 1. Several macro data is being released this week and had investors spooked. Particularly, there is a declining probability of US interest rate cuts this month, and rumors of possible rate hike considerations 2. Over the last 24 hours, 115,804 traders were liquidated for a whopping $ 387.91m. 3. US Spot BTC ETFs saw an outflow of $ 161m yesterday 4. Hong Kong’s Bitcoin and Ether ETFs failed to meet expectations 5. RSI divergence indicators suggest a bearish trend, as it was in the "overbought" area during the US BTC ETFs launch 6. More BTC miners approach shutdown levels amid price drop below $ 57,000 It is important to note that during the 2015-2017 bull market, over 13 different 20% pullbacks occured. Price swings are quite normal and sometimes good for the markets.
Breaking news CZ, the founder of Binance has been sentenced to 4 months in prison. ⚫CZ's lawyers were asking for house arrest or probation period ⚫DOJ attorneys were asking for 3 years ⚫US Probation Department was recommending 5 months
This week's crypto market highlights: ⚫ SBF agreed to $ 1.3m settlement ⚫ X got money transmitter license ⚫ TON network transactions surge over 100% ⚫ SEC delays Franklin spot ETH ETF ⚫ CZ faces potential 36-month jail term ⚫ Hong Kong to launch BTC and ETH ETFs on April 30
Btc https://www.coindesk.com/markets/2024/04/26/bitcoin-chops-around-64k-with-japanese-yens-tumble-maybe-signaling-currency-turmoil-analyst-says/
. https://www.coindesk.com/consensus-magazine/2024/04/25/samourai-wallet-charges-raise-existential-questions-for-privacy-tech/
The US president President Joe Biden has officially signed a bill to ban TikTok in the US unless its owner, ByteDance, agrees to sell the platform
News https://www.coindesk.com/policy/2024/04/23/do-kwon-terraform-labs-should-get-53b-fine-sec-tells-court/
Btc having https://www.coindesk.com/markets/2024/04/22/bitcoin-eyes-67k-after-halving-as-altcoins-primed-for-short-squeeze-hedge-fund-says/
This week's crypto market highlights: ⚫ Trust Wallet alerts iOS users ⚫ Pavel Durov’s interview takeaways ⚫ South Korea, Singapore, Japan may introduce BTC ETFs ⚫ Tether supports USDT on TON ⚫ Telegram to enable in-app purchases of physical goods soon ⚫ Apple removes major messaging apps from Chinese store ⚫ 4th Bitcoin Halving occured on April 20
Bitcoin halving happened.do you feel anything
Apple removed WhatsApp and other messaging apps such as Telegram and Signal from its Chinese app store, following Beijing's orders to tighten its Internet firewall for national security reasons
. https://www.coindesk.com/markets/2024/04/18/bitcoin-likely-to-drop-after-the-halving-jpmorgan-says/
Arkham created a dashboard to monitor the 10 reachiest crypto asset owners. The top 5 include: ⚫️Justin Sun ($ 1.1bn) ⚫️Rain Lohmus ($ 793m) ⚫️Vitalik Buterin ($ 782m) ⚫️Stefan Thomas ($ 452m) ⚫️James Fickel ($ 446m
Google Trends data over the past 12 months revealed the most popular narratives in crypto, focusing on their potential to drive mass adoption by non-web3 users: ⚫️ DeFi: Most popular narrative ⚫️ RWA (Real World Assets): Significant interest from traditional finance ⚫️ Layer-2: High interest within the Ethereum ecosystem ⚫️ Meme Coins, AI, and Play-to-Earn (GameFi): Lower search interest Despite the popularity in searches, the correlation with market performance is weak: ⚫️ Play-to-Earn: Best performance due to significant gains from specific coins ⚫️ AI: Positive performance, securing the second spot ⚫️ DePIN: Third in returns, despite low popularity ⚫️ RWA, Meme Coins, and DeFi: Mixed results, with DeFi not performing as expected ⚫️ Layer-2: Modest performance, despite high interest
China Asset Management (Hong Kong) has received approval from the Hong Kong Securities and Futures Commission to provide virtual asset management services to investors. It now plans to issue ETF products that can invest in spot Bitcoin and spot Ethereum. Harvest Global Investments also announced that their product of Bitcoin and Ethereum digital asset spot ETFs have been approved in principle.
This week's crypto market highlights: ⚫ Paraguay eyes Bitcoin mining ban ⚫ Brazil investigates Elon Musk ⚫ Toncoin becomes 9th globally by market cap ⚫ Hong Kong to launch spot BTC ETFs ⚫ US inflation figures released ⚫ FTX's Salame faces sentencing on May 28 ⚫ SEC targets Uniswap ⚫ Montenegro approves Do Kwon extradition
QCP reported that fears of Iranian retaliation against Israel caused a market sell-off, driving perpetual funding rates to their lowest this year (-40%). According to the analysts, despite the upcoming Bitcoin halving, BTC may remain within the $ 64k-$ 73k ran
. https://www.coindesk.com/markets/2024/04/12/bitcoin-plunges-to-66k-altcoins-tumble-10-15-on-ugly-day-for-risk-assets/
According to the data, various countries hold substantial amounts of crypto assets: 🇺🇸 USA: $ 15.27bn, including 212,847 BTC and 45,654 ETH 🇬🇧 UK: 61,245 BTC, valued at approximately $ 4.34bn 🇩🇪 Germany: 49,859 BTC, worth around $ 3.53bn 🇸🇻 El Salvador: 5,718 BTC, totaling $ 405m
Halving https://cointelegraph.com/news/bitcoin-halving-btc-crypto-market-exchange-coinbase
. https://cointelegraph.com/news/btc-price-66k-blackrock-us-banks-bitcoin-etf
This week's crypto market highlights: ⚫ FTX targets creditor payouts by late 2024 ⚫ Telegram shares ad revenue ⚫ Binance unveils Board of Directors ⚫ SBF claims ignorance of illegality ⚫ Meta let Netflix access users' DMs ⚫ Binance: Gambaryan not a decision-maker in Nigeria ⚫ US states eye Cardano for vote counting ⚫ Powell urges more data before rate cuts ⚫ Montenegro blocks Do Kwon's extradition
According to the data, crypto derivatives trading volume reached a record $ 6.18tn in March but saw a reduced market share, indicating changing trading dynamics: ⚫️Derivatives' share fell to 67.8%, marking a six-month decrease ⚫️Spot trading surged to $ 2.94tn, the highest since May 2021 ⚫️Rising spot trading aligned with Bitcoin's new highs and increased retail involvement
According to CoinGecko, in Q1 2024, various crypto narratives showed significant growth, with memecoins leading the charge: ⚫️Memecoins topped the charts with an average return of 1312.6%, with new tokens like Brett (BRETT) seeing as much as 7727.6% growth ⚫️Real World Assets (RWA) were the second most profitable, achieving 285.6% returns, with MANTRA (OM) and TokenFi (TOKEN) leading among RWA tokens ⚫️AI tokens followed closely, recording a 222% increase, with AIOZ Network (AIOZ) and Fetch.аi (FET) as top performers ⚫️DeFi and DePIN narratives also saw notable gains, with 98.9% and 81% returns respectively, while Layer 1, GameFi, and Layer 2 narratives lagged behind
. https://www.coindesk.com/business/2024/04/03/wormhole-debuts-at-3b-valuation-in-617m-token-airdrop/
Bloomberg suggested Asia's Bitcoin volatility may stem from trading bots reacting to US Bitcoin ETF data, automatically executing buy and sell orders.
Bitcoins worth nearly $ 2bn, which are associated with Silk Road seized BTC, were moved by the US government to a new address. The reason for this transfer remains unknown
BTC https://www.coindesk.com/markets/2024/04/02/bitcoin-drops-over-5-as-upbeat-us-factory-data-powers-dollar-index-to-nearly-5-month-high/
Some of the major crypto events upcoming in April 2024 include: ⚫ Bitcoin Cash halving — expected on April 3rd ⚫ USA March CPI announcement — April 10th ⚫ SEC & Coinbase case arrangement deadline — April 19th ⚫ Bitcoin halving — expected on April 25th ⚫ CZ sentencing hearing — April 30th
BTC https://cointelegraph.com/news/bitcoin-price-q2-70k-all-time-highs-focus
This week's crypto market highlights: ⚫ Spain's High Court suspends Telegram ⚫ CommEX to cease operations ⚫ Interpol target Binance execs with warrant ⚫ KuCoin founders charged in US ⚫ OKX API glitch misreports user balances ⚫ 21Shares launches TON-based staking ETP ⚫ SBF gets 25-year sentence for FTX fraud ⚫ Binance exec sues Nigeria
The biggest bull market is coming🔥 Google now allows users to search for wallet addresses and view balances on various blockchains including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom
SBF is sentenced to 25 years in federal prison for defrauding customers and investors in crypto exchange FTX.
The OKX API experienced a failure, causing user account balances to display error amounts. Some accounts showed zero balances, while others soared to tens of millions of dollars, impacting thousands of users in areas including Singapore, the United Kingdom, Japan, among others. Some traders reported suffering significant losses due to the lack of data on positions obtained through the API. OKX responded, stating that there are currently error reporting issues in the account balance and position interfaces, and that the technology team is addressing the matter urgently.
According to Bloomberg analyst, Hong Kong's financial regulator is likely to approve in-kind creations and redemptions for spot Bitcoin ETFs, potentially opening up the crypto market to a large investor base in China.
⚡️⚡️⚡️ breaking news ⚡️⚡️⚡️ The US Attorney for the Southern District of New York, and the Acting Special Agent in Charge of the New York Field Office of Homeland Security Investigations, criminally charged KuCoin and two of its founders with bank secrecy act and unlicensed money transmission offenses, alleging they helped grow the exchange into one of the largest crypto exchanges globally. Furthermore, the founders affirmatively attempted to conceal the existence of KuCoin’s US customers.
Digital asset investment products experienced a record outflow of $ 942m last week, marking a significant shift after seven weeks of inflows: ⚫️New US ETF issuers saw $ 1.1bn inflows, mitigating Grayscale's $ 2bn outflows ⚫️Bitcoin dominated the outflows with $ 904m, while Ethereum, Solana, and Cardano also saw notable outflows ⚫️Altcoins like Polkadot, Avalanche, and Litecoin, however, enjoyed net inflows totaling $ 16m ⚫️The market sentiment downturn, influenced by a recent price correction, contributed to the overall outflows, despite high trading volumes
. https://www.coindesk.com/markets/2024/03/22/bitcoin-slips-to-64k-as-large-grayscale-gbtc-outflows-continue/
BTC 🚂 https://cointelegraph.com/news/bitcoin-price-aims-for-a-bullish-weekly-open-will-doge-ton-stx-and-ftm-follow
This week's crypto market highlights: ⚫ Grayscale amends ETHE Trust filing ⚫ SBF's "bad ideas" list ⚫ CZ to launch education platform ⚫ SBF's lawyers seek 6.5-year sentence ⚫ Genesis settles with SEC for $ 21m ⚫ Ethereum Foundation probed by state authority ⚫ Montenegro contests Do Kwon's extradition
Google has reportedly added functionality to show Ethereum Name Service (ENS) wallet balances in search results, leveraging data from Etherscan, simplifying the process of checking Ethereum wallet balances linked to ENS domains.
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