ADAUSD Cardano

Bitcoin holds price above $70,000 despite US inflation instability

Bitcoin (COIN:BTCUSD) records a modest decrease of 0.43% at the time of writing, yet remains resilient above the $70,000 mark amid volatility triggered by a US inflation report for March that exceeded expectations. Despite the initial market reaction, the cryptocurrency displayed stability compared to other assets, which experienced greater drops, highlighting the crypto market’s sensitivity to global economic movements. Analysts point to the consistent demand for Bitcoin, considering it a safe-haven asset in times of financial uncertainty.

Coinbase boosts PEPE with futures and potential spot listing

The meme coin Pepe (COIN:PEPEUSD) gained attention with the announcement by Coinbase International Exchange (NASDAQ:COIN) that a perpetual futures market for the token will soon open. This move, scheduled for April 18 at 9:30 AM UTC, spurred PEPE’s value, raising expectations for a future direct listing. Following the reveal, PEPE rose 10%, though it later receded, maintaining a 3.1% gain over 24 hours.

Kraken to cease Monero operations in Ireland and Belgium

Kraken announced it will discontinue activities involving the privacy-focused cryptocurrency, Monero (COIN:XMRUSD), for its users in Ireland and Belgium starting June 10. From May 10, the platform will halt XMR trades and deposits, and users must close their margin positions by this date to prevent automatic liquidations. After June 10, any remaining XMR balance will be converted to Bitcoin. This move follows similar actions by other exchanges like Binance and OKX, occurring in a context of stricter EU regulations against money laundering, which include restrictions on privacy coins.

Uniswap faces SEC action and a drop in UNI token value

Uniswap (COIN:UNIUSD), the decentralized cryptocurrency exchange platform, was notified by the US SEC about potential legal actions. Following the announcement, its token’s value plummeted by up to 18%, though at the time of writing the token is down -9.9% over the last 24 hours. Hayden Adams, CEO of Uniswap, expressed frustration and determination in facing the charges, which include operating as an unregistered broker and exchange. The nature of the UNI token in the SEC’s accusations remains unclear.

Chainlink launches “Transporter,” a tool for inter-blockchain transfers

Chainlink introduced “Transporter,” its new blockchain bridge, enabling secure transfers of crypto assets and data across various networks. Aimed at both regular users and institutions, the Transporter promises to be an economical solution for large-value movements. Initially, it will support networks like Arbitrum and Ethereum, aiming to set a new standard for blockchain interoperability.

EMURGO and Huawei Cloud boost Cardano with new partnership

EMURGO, a foundational entity of the Cardano network (COIN:ADAUSD), joins forces with Huawei Cloud to enhance and expand Cardano’s blockchain capabilities, utilizing Huawei’s cloud infrastructure. Announced on April 11, 2024, this agreement aims to accelerate the adoption of Web3 technology by integrating a Cardano Validator Node into Huawei’s extensive cloud infrastructure to optimize performance and interoperability in Asia.

Circle introduces instant BUIDL-USDC exchange via smart contract

Circle (COIN:USDCUSD) announced a smart contract innovation for BlackRock’s BUIDL fund (NYSE:BLK), allowing investors to directly convert their shares into USDC. This mechanism provides an efficient and transparent exit from the digital fund at any time, highlighting the agility and security of traditional financial asset tokenization.

SHIB partners with CDSA to innovate in blockchain for media

SHIB, the ecosystem behind the Shiba Inu cryptocurrency (COIN:SHIBUSD), announced a partnership with the Content Distribution and Security Association (CDSA) to develop blockchain solutions for the media and entertainment sector. This collaboration aims to enhance content security and distribution, with the CDSA, a global nonprofit entity, providing a stage for SHIB to introduce blockchain and AI innovations in the industry.

Polkadot considers promotion at Paris Olympics with electric bikes

The Polkadot (COIN:DOTUSD) governance forum is evaluating a $160,000 project to promote the network through a fleet of branded electric bikes during the Paris Olympics. The proposal by Oribiky aims to place 100 Polkadot-branded bikes at key locations, complemented by a mobile app for bike rentals and cryptocurrency payments. Despite the innovation, the community initially showed resistance, with a majority of votes against the initiative so far.

JPMorgan assesses low probability of Ether ETF approval in May

JPMorgan (NYSE:JPM) highlights that due to SEC investigations into entities associated with the Ethereum Foundation (COIN:ETHUSD), an Ether ETF’s approval next month is unlikely. Despite the recent authorization of bitcoin ETFs, the bank foresees ongoing regulatory challenges for ether, with possible litigation against the SEC after May, though it anticipates eventual victory against the regulatory agency. The setup of Ether options for the end of May reflects skepticism, anticipating sharp price fluctuations. The uncertainty translates to expectations of high market volatility, especially around the $3,600 mark.

Grayscale ETF records lowest outflow since launch

On Wednesday, Grayscale’s Bitcoin ETF (AMEX:GBTC) achieved a positive milestone with the lowest fund outflow recorded, about $18 million, since its inception in January. This improvement follows Grayscale CEO Michael Sonnenshein’s prediction of an outflow balance, indicating overcoming the sales associated with crypto firm bankruptcies like FTX. The notable decrease in outflows suggests a relief in Bitcoin selling pressure, countering expectations of a continuous withdrawal trend.

Bitcoin mining difficulty reaches new record ahead of halving

Bitcoin’s mining difficulty increased by 3.9% to a historical peak, gearing up for the halving expected on April 20. This rise occurred in the most recent adjustment, indicating a strengthening in hash rate by miners before the block reward is halved. With the halving imminent, the mining community is ramping up efforts, reflected in the continuous growth of Bitcoin’s difficulty and hash rate since the year’s start, despite the prospect of lower block rewards.

Bitfinex launches unprecedented tokenized debt offering in El Salvador for hotel

Bitfinex Securities announces El Salvador’s first tokenized debt offering to fund a Hampton by Hilton hotel at the country’s airport, aiming to raise $6.25 million. With a minimum investment of $1,000 and a 10% rate over five years, the project promises to create thousands of jobs and boost the local economy, marking a significant advance in the tokenization of Salvadoran digital assets.

London mayoral candidate plans universal cryptocurrency for residents

Brian Rose, a candidate for London’s mayor, proposes distributing £100 in a new cryptographic token to every Londoner, funded by a tax on financial institutions’ profits. The token, provisionally named LONDRES, would be accepted for payments in the transport network and other municipal fees, aiming to integrate cryptocurrency into the city’s daily life and promote financial education among citizens.

South Africa begins issuing licenses to cryptocurrency companies

South Africa’s financial regulatory body granted the country’s first cryptocurrency licenses, with Luno and Zignaly among the first recipients. Luno received recognition as a financial service provider under the FAIS Act of 2002, while Zignaly was approved as a Category 2 – Discretionary Financial Services Provider. This initiative marks a significant step towards regulating the crypto sector in South Africa, promising compliance and security for users and paving the way for more companies in the industry.

Uplink raises $10 million for decentralized internet expansion

Uplink, committed to democratizing internet access, raised $10 million in investments led by Framework Ventures. Operating as a Decentralized Physical Infrastructure Network (DePIN), Uplink aims to reshape global connectivity by encouraging collective contributions to its infrastructure through token rewards. The DePIN sector, potentially worth $3.5 trillion by 2028, promotes the intersection of blockchain technology and physical systems, driving a new era of internet accessibility.