Grayscale’s application to convert its trust into a spot Ethereum ETF has been delayed by the U.S. SEC. 

The SEC deferred its decision on a proposed rule change to allow U.S. national exchanges to list and trade spot Ethereum (ETH) ETFs pitched by Grayscale until June 23. 

“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, as modified by Amendment No. 1, and the issues raised therein.”

U.S. SEC website

In October, Grayscale submitted a Form 19b-4 with the NYSE Arca, asking the SEC for permission to transition its existing Ethereum Trust (ETHE) into a spot ETH ETF. The firm filed the same process for its GBTC product, which it successfully converted into a spot Bitcoin (BTC) ETF in January. 

Following the SEC’s latest move, Grayscale filed Form S-3 to register under America’s Securities Act to amp efforts for its ETHE offering.

You might also like: SEC delays Franklin Templeton spot Ethereum ETF

Today, we filed a registration statement on Form S-3 to register shares of Grayscale Ethereum Trust (OTCQX: $ETHE) under the Securities Act of 1933. This is another important step toward uplisting ETHE as an ETF*. (1/6) pic.twitter.com/Siy0fUkXTl

— Grayscale (@Grayscale) April 23, 2024

Documents on the Wall Street regulator’s website also showed that a similar application filed by asset manager Franklin Templeton was delayed until June 11, crypto.news reported earlier on April 23. 

Other filings from issuers BlackRock, Fidelity, and VanEck seeking spot Ethereum ETFs were also delayed as the SEC buys time to decide whether to accept or reject these bids. Analysts have surmised that a staking feature added to some applications may concern the SEC’s Chairman, Gary Gensler, who has repeatedly insisted that most crypto assets are securities.

Since then, spot BTC ETFs have amassed over $12 billion in cumulative net inflow despite massive exits from Grayscale’s fund. GBTC outflows reached $1.6 billion earlier this week, losing 50% of previously managed volume.

Read more: Bloomberg analyst: 35% chance of spot Ethereum ETF approval by May

Solana decentralized exchange aggregator Jupiter has expanded its reach by acquiring Ultimate Wallet, a self-custody crypto wallet firm.

The purchase is part of Jupiter’s strategy to enhance its mobile capabilities and attract millions of new users. According to Jupiter’s announcement, adding Ultimate Wallet marks the beginning of its mobile initiative, which is set to enter beta testing in May.

The company plans to integrate Ultimate Wallet’s technology and team into its mobile platform, Jupiter Mobile, to accelerate its development and improve user experience.

The Jupiter Mobile Initiative to onboard tens of millions of users is beginning.Trade any token, anywhere, with 1 click and 0 fees, ready for beta in May.We’ll be one step closer to getting your mum to use Jupiter too 🧓Credits: @FamousCloudzz for the clip. pic.twitter.com/K4v7IsCSdB

— Jupiter 🪐 (@JupiterExchange) April 23, 2024

You might also like: SEC delays Franklin Templeton spot Ethereum ETF

“We’re excited to share that Ultimate and our mobile team has been acquired by Jupiter, Solana’s leading exchange,” Ultimate Wallet confirmed in the announcement.

The company assured users that funds were safe and provided details about the transition, including the sunset date for the current Ultimate app, May 22.

The acquisition of Ultimate Wallet aligns with Jupiter’s goal of expanding its user base and enhancing its mobile offerings, signaling further growth in the decentralized finance (defi) space.

📱We’re excited to share that Ultimate and our mobile team has been acquired by Jupiter, Solana’s leading exchange. Jupiter has grown to become the #1 place to trade on Solana regularly clearing $10B+ weekly volume. Now they extend their product offering into native mobile.

— Ultimate Wallet (@UltimateApp) April 23, 2024

Back in February, Jupiter airdropped its JUP token to many investors who have used its aggregator tools. JUP is now Solana’s main decentralized exchange (DEX) coin.

Read more: Jupiter explodes higher with a 140% price increase

Binance users will have a chance to bag an allocation for EZ, the native token for liquid staking protocol Renzo. 

According to an announcement, Binance Launchpool will list Renzo (EZ) as its 53rd project on April 30. The maximum supply is set at 10 billion tokens, and the platform will field 1.05 billion EZ coins as an initial supply. 

In February, Binance, crypto’s largest centralized exchange, previously invested in the Renzo protocol. However, the monetary amount injected into the project remained undisclosed. The investment was made via Binance Labs, the venture capital arm of the exchange now operates as a standalone business. 

At the time, Binance Labs was worth $10 billion and its portfolio supported over 250 crypto protocols, per details provided by the company. 

You might also like: Ethereum stakers exit Lido for Ether.fi, Renzo

Renzo tails Ether.fi in liquid restaking market

Following its mainnet launch in October last year, the Renzo protocol has grown into a major player in the Ethereum (ETH) liquid restaking market. DefiLlama data showed that users have deposited $3.39 billion into the defi platform. 

With a 144% increase in the past month, Renzo is the second-largest liquid restaker on Ethereum. Only Ether.fi boasts a bigger user demand at $3.82 billion in total value locked. 

Top liquid restaking protocols | DefiLlama

Liquid restaking protocols spun off EigenLayer, a platform that allows users to secure other chains and dapps by repurposing staked ETH. The initiative also provides an additional yield source for stakers and derivative tokens to improve on-chain utility. 

While the sector is now valued at over $10 billion, experts are divided over the risks associated with liquid staking, with some arguing that it is overstated and others advising caution among participants. 

Read more: Vitalik Buterin supports ‘rainbow staking’ to fight centralization issues

Cybersecurity firm Kaspersky has reported an increase in fraud surrounding Toncoin.

According to security experts, Telegram’s support for The Open Network (TON) blockchain and the Toncoin (TON) token has led to scammers targeting unsuspecting token holders.

Since November 2023, scams against Toncoin holders have increased as interest and TON investments have ramped up. The attackers promote a complex referral scheme to steal TON tokens from users.

Potential victims are invited to join a Telegram bot supposedly designed to store cryptocurrency and link a web3 wallet to the bot’s system. Victims are then forced to buy “boosters” using a bot. Scammers claim that users must complete this action to start earning money. However, purchasing a booster makes the user irrevocably lose control over his cryptocurrency.

You might also like: TON airdrops $2.2m to meme coin traders amid Toncoin’s new all-time high

The scammers promise earnings from two sources: a flat payment of 25 TON for each friend the user refers to and a commission based on the booster rate purchased by referrals. Kaspersky estimates that users lose between $2 and $2,700 to scams.

Meanwhile, Toncoin’s price has fallen by more than 5% over the past 24 hours to $5.72, according to CoinMarketCap data. By month, TON’s prices have risen 10%, largely thanks to several initiatives involving the Telegram messenger.

Source: CoinMarketCap

Recently, Telegram founder Pavel Durov announced the imminent addition of new features to the application, including the ability for sticker creators to receive income from sales and a new function for donations in the TON.

You might also like: TON Foundation allocates 11m Toncoin to reward USDT users

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Neo (NEO) saw a major 44% jump within the span of a week and is now positioned towards reaching new heights. 

Following this bullish momentum is the Toncoin (TON) crypto, which jumped 85% in the past month, showcasing major upward prowess and bullishness on the charts. 

However, they’re not alone, as KangaMoon (KANG), an upcoming project in its presale stage, has surged 290%. We will review their on-chart performance individually to see why this is the case. By the end, we will see which crypto can see the most substantial growth and which is the best cryptocurrency to buy now.

You might also like: Analyst: $1.70 breakout for Cardano; KangaMoon presale heats up as Solana dips

Neo spikes 44% – how far can it reach in 2024?

Neo (NEO) has been in the green zone across all of its charts and is now positioned to reach even further gains. Specifically, within a week, the Neo crypto moved up 44%, and in the past year, it’s up 75%. 

In the span of a month, the Neo price also spiked 40% and reached a peak at $23.57. As a result, $25 is the next major price barrier it needs to pass to reach new heights. The RSI and MACD data are bullish, and according to the Neo price prediction, it can end 2024 at $37.23.

You might also like: Crypto Rover suggests altcoins will surge: Chainlink, Floki, KangaMoon soar

Toncoin jumps 85% – price to reach $10.45

Toncoin (TON) saw substantial gains as well. Not only did the crypto spike 85% in the past month, but it gained 28.4% in a single week as well. The year-to-date (YTD) climb for the Toncoin crypto was by 201.6%, and its recent peak was at $7.63. Now, the Toncoin price needs to break past the $8 price barrier to reach new heights. If it does so, according to the Toncoin price prediction, it can end 2024 at $10.45.

KangaMoon (KANG) to spike 100x fueled by P2E and Social-Fi elements

KangaMoon (KANG) is an upcoming Play-to-Earn (P2E) platform that features Social-Fi elements and a community-driven approach, through which anyone gets the opportunity to earn tokens and rewards by participating in various elements.

Specifically, each player takes control of their own KangaMoon character and, by doing so, can engage in battles, complete tournaments, or even other challenges. 

There is a dedicated KangaMoon marketplace where anyone can buy, sell, or trade NFTs for additional capital gains. There are now over 20,000 registered users and 5,800 KANG token holders.

The presale has reached Stage 5, where KANG has raised $5 million and will break past the $5.5 million mark by the end of the week. Moreover, the crypto jumped from $0.005 to $0.0196, marking a substantial 290% jump in value. 

Analysts say its future is bullish, as the crypto can climb 100x following its launch and major exchange listings.

Summary

It’s clear that Neo and Toncoin experienced substantial price gains during the past trading sessions which has positioned them as some of the most bullish cryptocurrencies to jump into.

But despite their major success, most of the attention has gone towards the KangaMoon presale, as it has already provided massive ROI and can only move upwards in value from here, fueled by its massive ecosystem.

To learn more about this project, visit the KangaMoon presale website or join the community.

Read more: Altcoin Sherpa remains bullish for BTC, while Dogwifhat, KangaMoon surge

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

The GameFi sector is heating up, with top projects Beam and Immutable X pumping 7% and 6.7%, respectively. Mega Dice is also gaining traction.

New gaming coins are also catching attention, with the trending presale Mega Dice token raising $450K and receiving support from top analysts.

GameFi tokens surge

Beam and Immutable X have soared today, outpacing the market average amid a growing appetite for GameFi cryptocurrencies.

AI and meme coins led the last crypto market rally, but following the recent pullback, analysts anticipate GameFi to be one of the most dominant narratives.

Well-known trader Alex Becker highlighted that the total crypto gaming market cap is approximately $20 billion and said that in a “full bull market, individual meme coins have moved up this amount in days.”

As such, the analyst anticipates significant returns for gaming cryptos in the coming months, speculating, “It takes almost nothing to send coins back to top price and then 5x that. The recovery and return up will be lightning fast.”

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The recovery has already started, with Beam surging 7% today and 28% this week. It is also up 1.1% this month and 567% this year.

BEAM’s market cap is $1.7 billion, and its 24-hour trading volume is $26 million, which is up 48% today.

Market analyst Woods.ai forecasts a move toward $0.5 in the coming weeks, highlighting how the recent uptick is breaking a parallel channel to the upside.

The analyst points out that the bounce follows a retest of a long-term support and resistance level, further validating the current upswing.

Immutable X enjoys a similarly bullish outlook, up 6.7% today and 26% this week, down 15% this month, and up 147% this year.

It is currently priced at $2.39 with a $3.4 billion market cap and a $73 million 24-hour trading volume, up 45% today.

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Prominent trader Crypto Patel recently highlighted that IMX is bouncing from a higher time frame “demand zone” and remains on a long-term uptrend. 

The analyst cites its 2024 high of $3.7 as a potential target in the coming weeks.

Meanwhile, the new GameFi token Mega Dice is also drawing analysts’ attention as its presale surpasses $450K.

Mega Dice attracting investors

Mega Dice token is a Solana-based GameFi cryptocurrency launched by the industry-leading Mega Dice casino.

The project has witnessed tremendous early momentum, with Mega Dice’s notoriety instilling confidence in traders.

The Mega Dice token is undergoing a presale and has raised $450K so far. The project aims to add value to existing players while rewarding new users with the advent of DICE.

The new token introduces an unprecedented advantage, offering holders daily passive rewards based on the casino’s success. In addition, holders can access limited edition NFTs, exclusive features, early bird bonuses, and a referral scheme.

Mega Dice casino boasts over 50K players, with 10K active monthly and $50 million in monthly wagers.

Analysts have noted these metrics, with TodayTrader dubbing DICE the “number one GameFi token on Solana.” The analyst also speculated that DICE could potentially provide up to a 100x ROI from its presale price.

Currently, investors can buy DICE for $0.069. However, the price will increase throughout the presale campaign, with the next uptick occurring when 14.7 million tokens are sold. So far, 6.5 million are sold, so traders should act fast to secure the most upside potential.

To learn more about this project, visit the Mega Dice presale website.

Read more: Crypto casino ‘Mega Dice’ launches DICE presale; Raises $300K

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

OP_CAT recently unveiled its BIP-420 proposal amid the ongoing discourse surrounding covenants within the Bitcoin community.

According to Udi Wertheimer on X, an advocate for OP_CAT, the proposal aims to enable covenants on Bitcoin, opening avenues for smart contracts, secure bridges, on-chain trading, zk proof verification, and more. However, it’s worth noting that the proposal hasn’t yet gained official status as a Bitcoin Improvement Proposal (BIP).

Covenants on Bitcoin (BTC), in essence, are sophisticated scripting features dictating specific conditions on how bitcoins can be spent in future transactions.

Covenants have the potential for various use cases, from creating secure vaults that facilitate reversible transactions to enabling automated recurring payments, time-locked transfers for inheritance purposes, and even complex financial instruments like escrows and bonds.

Originally, OP_CAT was part of Bitcoin’s early opcodes but was disabled by Satoshi Nakamoto in 2010 due to concerns about potential vulnerabilities. An opcode, a command within the Bitcoin scripting language, is crucial in executing operations within Bitcoin scripts.

introducing BIP-420: formal Bitcoin Improvement Proposal for OP_CATit’s a historic day!today, after a long wait, the OP_CAT proposal formally received a BIP number. meet BIP-420!BIP-420 enables covenants on bitcoin, allowing for smart contracts, secure bridges, on-chain… pic.twitter.com/z6ItJT7LX4

— Udi | BIP-420 🐱 (@udiWertheimer) April 22, 2024

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The proposal, spearheaded by Ethan Heilman and Armin Sabouri, proposes reintroducing OP_CAT through a backward-compatible soft fork, specifically by redefining the opcode OP_SUCCESS126, which aims to mitigate confusion by retaining the original opcode value.

The proponents argue that reintroducing OP_CAT would enhance Bitcoin’s capabilities, simplify decentralized protocols, support advanced multi-sig setups, and expand Bitcoin’s scripting power and flexibility.

However, realizing an OP_CAT soft fork hinges on technical feasibility, security considerations, and achieving consensus within the community.

Besides OP_CAT, several other covenant proposals are under consideration within the Bitcoin ecosystem, each with its unique approach and potential trade-offs. These include Check Template Verify (CTV), OP_CHECKSIGFROMSTACK (CSFS), and LNHANCE, each offering different functionalities and levels of formalization in their proposals.

Read more: Ripple asks court to reject SEC’s $2b claims

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Exchange listings expose cryptocurrencies to more investors and often prove instrumental in explosive price movements.

With that in mind, this article looks at the best new meme coin listings to watch. We consider community reactions to listing announcements, prices, and potential for further gains.

Based on these criteria, our top picks are Pepe, Slothana, Dogwifhat, Apu Apustaja, and Gummy. Let’s explore each below.

Pepe

Pepe emerged as a beacon of hope for investors amid the 2023 bear market, exploding above a $1 billion market cap in its opening weeks. The token has regained centre stage recently, with its price exploding through 2024.

Currently, Pepe is the top-performing large-cap meme coin, and excitement is brewing regarding a listing on Coinbase International Exchange. This is an institutional-focused arm of Coinbase that serves clients outside of the United States.

Coinbase’s announcement ignited massive excitement among the meme coin community, with the tweet garnering over 280K views.

The listing will enable perpetual futures contract trading, but some analysts have speculated that a spot listing will follow.

Currently, Pepe is trading at $0.000006781, up 6.8% today and 34% this week but down 8.9% this month.

It holds a $2.8 billion market cap and a $1 billion 24-hour trading volume, up 13% today.

You might also like: Dogwifhat, Bonk see gains; Slothana poised to be major Solana memecoin

Slothana

Slothana is a trending Solana-based presale that raised over $10 million in its opening two weeks. The monumental presale success reflects a deep-rooted market appetite for Solana meme coins following the success of Book of Meme and Slerf.

The Slothana presale will end in six days, after which it will launch on exchanges.

It has already eclipsed the total raises of BOME and SLERF, which raised $2 million and $10 million, respectively.

Book of Meme’s secured a Binance listing within two days of launching. Given Slothana’s outsized success, this hints at a bright future for the new meme coin.

Another factor pointing to strong potential is rumours that the Smog team created Slothana. Smog soared 100x following its launch in February, reaching a $270 million market cap. The rumours follow Smog commenting on Slothana’s first-ever X post when it had under 50 followers.

Dogwifhat

Dogwifhat is the leading meme coin on Solana and the fourth-largest in the entire crypto market. Similar to Pepe, Coinbase International Exchange recently announced it will list Dogwifhat for perpetual futures trading. 

The announcement garnered 1 million views, reflecting a deep-rooted market interest in the jovial meme coin.

Excitement is also building that the futures listing may precede a spot listing, enabling all Coinbase users to buy and hold WIF on the platform. 

“Coinbase perp listing will lead to spot listing,” said PepeXBT. 

Since Coinbase is the industry’s leading exchange, this would establish significant new demand for the token.

Currently, Dogwifhat is trading at $2.81, down 4.6% today, up 8.4% this week, and up 23% this month.

It holds a $2.8 billion market cap and a $388 million 24-hour trading volume.

You might also like: Solana’s Slothana eyes 100x surge; Pepe, Dogwifhat, prices dip

Apu Apustaja

Apu Apustaja is a Pepe-inspired meme coin that has recently enjoyed monumental success. Its website leads with “The coin for all frens,” demonstrating an understanding of meme coin culture.

Apu was listed on Bitget on Monday, causing hysteria among its community. Several vocal commentators compared Apu’s current position to Pepe’s amid its Bitget listing, predicting spectacular returns may be on the horizon.

“Pepe hit $1.8B market cap 2 weeks after the Bitget listing last year,” explained apumaxi.eth.

The project’s website says, “Apu, also known as Peepo or Helper, and commonly mistaken for Pepe, is used to represent a much younger, kinder, and more naive anthropomorphic frog.”

Apu Apustaja is currently trading at $0.000481, up 3.7% today, 65% this week, and 763% this month.

It holds a $161 million market cap and a $4.3 million 24-hour trading volume, up 13% today.

You might also like: Traders think Slothana could be the next big Solana meme coin

Gummy

Gummy is a new Solana-based meme coin currently in CoinMarketCap’s top 20 trending cryptos. 

The project’s debut CEX listing occurred on BingX on Monday and drew tremendous interest on social media. BingX announced the listing hours before it went live, and the tweet has received over 900 likes so far.

Besides its BingX listing, an airdrop campaign is adding to Gummy’s hype. 30% of its total supply is earmarked for the giveaway. Another 10% is allocated to exchange liquidity, 20% to marketing, and 40% is to be burned.

The project has already attracted prominent influencers, with the Crypto Banter X account recently commenting on its strong market performance.

Gummy is priced at $0.18, up 55% since CoinMarketCap data began on Monday. It has a $178 million market cap and a $74 million 24-hour trading volume.

Read more: PEPE rises ahead of Coinbase listing as Slothana prepares for IEO

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

The U.S. SEC postponed the application to open an Ethereum ETF from Franklin Templeton.

According to a document published on the regulator’s website, the Commission considers it appropriate to set a more extended period for action on the proposed rule change to give it sufficient time to consider the proposed rule change and its issues.

The SEC must decide on Franklin Templeton’s application by June 11.

“The Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change.”

SEC filing

You might also like: Fidelity files S-1 for Ethereum ETF

In February, Franklin Templeton filed to register a spot in the Ethereum ETF. If approved, Coinbase Custody Trust Company will be the custodian of the second-largest cryptocurrency by capitalization.

The product will be listed on the Chicago Board of Options BZX Exchange if approved. The structure uses only cash to create and redeem shares of ETF, similar to how it is implemented in Bitcoin-based instruments.

Following the launch of the Bitcoin ETF, several leading asset managers have filed applications to create spot ETFs on Ethereum. The deadline for the SEC’s final approval of Ethereum spot ETF applications filed by VanEck and ARK/21Shares is May 23.

The Hong Kong Securities and Futures Commission (SFC) has already approved the launch of spot ETFs based on Ethereum. However, Bosera Asset Management, which received regulatory approval, did not disclose product tickers.

You might also like: SEC seeks comments on three spot Ethereum ETF filings, analysts not bullish

El Salvador’s state-controlled Bitcoin wallet is embroiled in a second data breach incident after hackers published another batch of sensitive information.

On April 23, anonymous bad actors called CiberInteligenciaSV leaked some of Chivo’s source code and VPN credentials for state-operated Bitcoin (BTC) ATMs in El Salvador. The information was released on BreachForums, a platform for criminals and malicious hackers. 

“This time I bring you the code that is inside the Bitcoin Chivo Wallet ATMs in El Salvador. Remember that it is a government wallet, and as you know, we do not sell, we publish everything for free for you.”

CiberInteligenciaSV on BreachForums

Digital security startup VenariX warned citizens and the broader crypto community on X of an impending Chivo leak a day before the incident.  According to the local initiative, CiberInteligenciaSV had teased the forthcoming BreachForums post on its Telegram Channel. The cybercriminal organization also seemingly invited government officials to negotiate. 

CiberInteligenciaSV Telegram post | Source: Telegram

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El Salvador Chivo debacle

Chivo is the official Bitcoin storage solution provided by the government of El Salvador. The wallet became a national tool after President Nayib Bukele officially adopted Bitcoin as legal tender in September 2021, becoming the first country to do so worldwide. 

Salvadorans can use Chivo to buy or sell Bitcoin. Chivo also allows citizens to withdraw cryptocurrency from BTC ATMs across El Salvador. Shortly after its launch, users reported issues with the wallet, such as slow execution, app crashes, and other bugs. 

The government partnered with U.S. white-label software firm AlphaPoint to address technical glitches, as crypto.news reported in 2022.

Matters escalated earlier this month after the personal info of some five million Salvadorans was exposed online. Per DataBreaches, the 144GB leak was extracted from a former national security advisor named Alejandro Muyshondt. The hackers reportedly accessed the files from a cloud backup.

Initially, the source was unclear and mistaken for a vaccination database since it features details like full names, dates of birth, individual profile photos, and addresses. However, experts later linked the files to Chivo sign-up requirements. Bukele’s administration has not commented on or issued a statement regarding what happened. 

Read more: El Salvador moves $386m worth of Bitcoin into cold storage

Ripple Labs rejected the U.S. SEC’s request to recover $2 billion from the company for institutional sales of XRP tokens.

Ripple’s lawsuit states that the amount involved is much smaller and that the agency is trying to intimidate players in the digital asset market. The company filed a motion to dismiss the SEC‘s lawsuit alleging $2 billion. Last month, the agency sent documents to the court demanding that the company recover those funds.

The list of claims includes $876 million in compensatory damages, $198 million in interest on the amount mentioned, and another $876 million in civil penalties.

You might also like: SEC drops lawsuit against Ripple and its execs

Representatives from Ripple acknowledged selling tokens to institutional clients. However, the company’s officials noted that the civil fine cannot exceed $10 million. The company also rejected the SEC’s accusations of the ongoing practice of selling XRP to institutions.

Ripple’s Chief Legal Officer, Stuart Alderoty, emphasized that the SEC’s allegations are based on a lost case for the agency. Alderoty believes the agency is trying to demonstrate its intention to persecute crypto companies to intimidate market participants.

Our opposition to the SEC’s request for $2B in penalties for legacy institutional sales is now public. In a case that had no allegations (or findings) of recklessness or fraud, and in which Ripple won on significant issues, the SEC’s ask is just more evidence of its ongoing… https://t.co/GLcdsyInZW

— Stuart Alderoty (@s_alderoty) April 23, 2024

“In a case that had no suspicion (or findings) of recklessness or fraud, and in which Ripple won on significant issues, the SEC’s ask is just more evidence of its ongoing intimidation against all of crypto in the U.S.”

Stuart Alderoty, Ripple’s Chief Legal Officer

In July 2023, the company won a partial victory in an SEC lawsuit. The court found that XRP’s retail sales do not violate securities laws. However, the trial is still ongoing, with the next meeting slated to be on XRP’s institutional sales.

You might also like: Ripple vs. SEC

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Love Power MarketPlace, a marketplace to mint, list, buy, and sell NFT collections, has announced they will soon launch a feature allowing for peer-to-peer exchange of NFTs. 

The project is currently in its testing phase. Users can sell, buy, and exchange NFTs in the coming months on favorable terms with just one click.

Facilitating growth

The introduction of NFT peer-to-peer exchanges within the Love Power Ecosystem is poised to significantly bolster the LOVE token project’s growth trajectory. The Love Power Ecosystem aims to enhance the utility and demand for the LOVE token by offering a streamlined and user-friendly platform for NFT transactions.

This increased functionality is anticipated to attract a broader audience of creators and collectors to the ecosystem, consequently fostering heightened engagement and liquidity within the LOVE token ecosystem.

Exploring the Love Power ecosystem

The Love Power Ecosystem is a decentralized and autonomous platform designed to foster a self-sufficient community of digital creators. It provides various tools tailored to assist artists, designers, illustrators, and other creatives monetize their work.

The Love Power Ecosystem introduces the Love Power NFT Collection, an assortment of NFT tokens artists generate within the open community. The collection purportedly aims to propagate values such as Love, beauty, and the triumph of good over evil through themes of kindness and understanding. 

Per the company’s assertion, this collection is accessible on  OpenSea and Rarible marketplaces.

According to Data from Uniswap, the LOVE token has tripled in value during this timeframe. This reflects the increasing traction and adoption of the Love Power Ecosystem and the growing interest in decentralized platforms and native tokens within the digital creator community. Notably, the LOVE token is currently tradable on the decentralized Uniswap platform.

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Additionally, the LOVE token serves as the native currency within the Love Power Ecosystem. It facilitates internal transactions within the marketplace and is designated for rewarding artists, engaged community members, ambassadors, and other participants. 

Driving growth

According to the Love Power MarketPlace team, there is an ongoing marketing campaign aimed at generating additional interest in the company, with potential implications for the growth of the token. This initiative is designed to attract attention to the platform and subsequently influence the token’s performance. 

Additionally,  interested parties can purchase the token directly through the website’s homepage. This accessibility aims to streamline the process for individuals looking to invest in the LOVE token.

Community engagement and migration

Notably, the Love Token project is backed by a sizable community of several hundred artists who have previously traded on OpenSea. 

The transition of these artists to the Love Power Ecosystem’s marketplace signifies a significant shift in the digital creator landscape. This migration suggests a growing interest and trust in the platform among established creators, which could bolster its credibility and user base.

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Moreover, the project has an active Discord community, where various contests and drawings are continually held. This vibrant Discord channel serves as a hub for community engagement, fostering interaction and collaboration among members.

The ongoing contests and drawings promote creativity and contribute to comradeship and solidarity within the community. 

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Empowering artists

According to the company, Love Power Marketplace provides several opportunities for artists in its community. The platform allows artists to have their works featured on the main page of the Love Power Marketplace, which can increase their visibility and exposure to potential buyers.

The company also claims that it actively promotes artists’ NFTs across its social networks, aiming to use its online presence to reach a broader audience and enhance the discoverability of their creations.

Additionally, the platform encourages artists to participate in contests hosted on its Discord channel, with prizes for the winners. These contests are designed as a way for artists to showcase their talents, engage with the community, and potentially earn rewards for their efforts.

Furthermore, the Love Power Marketplace plans to introduce raffles with cash prizes in the near future. This initiative will provide artists with the chance to win monetary rewards and add an element of excitement to the platform, aiming to enrich the community experience.

Website  Discord  Twitter Telegram

Read more: NFT scam in India sees 71-year-old digital artist losing money in bogus platform fees

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The total value of locked funds in the EigenLayer restaking protocol exceeded $15.1 billion.

According to DefiLlama, the project team lifted restrictions on pool limits, which caused a noticeable increase in total value locked (TVL). This figure was $11 billion at the beginning of March, increasing by $4 billion in less than two months.

Source: DeFiLlama

EigenLayer’s TVL still needs to be improved to reach Lido Finance’s liquid staking protocol, which sits at $29.6 billion.

You might also like: Glassnode: Restaking brings new yield opportunities for Ethereum community

In April, EigenLayer reached 115,000 unique users, according to Dune Analytics. In early April, the protocol announced the launch of the mainnet and introduced functionality for operators and restakers. Users now have access to several new features. In addition, this year, the developers promised to launch intra-protocol payments.

Announcing: EigenLayer ♾ EigenDA Mainnet Launch pic.twitter.com/bTp5BfnsKE

— EigenLayer (@eigenlayer) April 9, 2024

EigenLayer founder Sreeram Kannan said the protocol increases the utility of Ethereum and provides economic security to the asset.

Our goal is to make @eigenlayer eventually permissionless on the staking assets.———–When any asset can be staked, what asset *will* be staked?———–– There is a common misconception that lower volatility assets are better. Is USDC the lowest volatility asset then?… https://t.co/YOrPlgprtB

— Sreeram Kannan (@sreeramkannan) April 15, 2024

Kannan, an assistant professor at the University of Washington, developed the protocol in 2021. It is based on Ethereum and allows customers to withdraw cryptocurrency and extend crypto security to new network applications such as bridges and oracles.

You might also like: EigenLayer nears $7b TVL, becoming 4th largest restaking protocol

On April 22, the net daily capital inflow into spot Bitcoin ETFs was $62.09 million.

According to SoSo Value, the top spot in capital inflows on April 22 was taken by the Fidelity Bitcoin Spot ETF (FBTC) crypto fund. It added $34.83 million to its balance sheet, bringing funds under management to $8.18 billion.

Source: SoSo Value

The investment product from ARK Invest and 21 Shares received $22.56 million, and iShares Bitcoin Trust (IBIT) received $19.65 million. The remaining Bitcoin ETFs received a total of $20.04 million.

Bloomberg analyst Eric Balchunas noted that investors have steadily poured into IBIT for 69 days, allowing the fund to take 11th place in the most consecutive days of inflows.

$IBIT inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS (a streak I was equally as fascinated by) altho streak ending today would be pretty hilarious, show financial gods have sense of humor via @thetrinianalyst pic.twitter.com/niDzfaKqgp

— Eric Balchunas (@EricBalchunas) April 22, 2024

As economist Alessandro Ottaviani noted, the inflow of assets into IBIT continued at the beginning of the week. The fund is one of the 10 investment instruments that have received a stable influx of investment for the longest period.

On April 19, spot Bitcoin ETFs recorded an influx of $59.56 million. The sector also became the volume leader, adding $54.77 million to its balance sheet, and the volume of funds under management reached $8.14 billion.

On April 19, IBIT’s inflows amounted to $29.28 million, while ARK Invest and 21 Shares recorded an inflow totaling $12.53 million.

You might also like: Grayscale’s Bitcoin ETF hits $1.6b outflows hours before halving

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Coinhold, developed by EMCD, emerges as a leading defi platform offering high-yield crypto investment opportunities with robust security and user-friendly features.

Coinhold, developed by EMCD, stands out as a robust service offering a user-friendly platform, competitive interest rates, and a secure approach to managing digital assets.

Exploring Coinhold

Coinhold, a service from EMCD, an ecosystem that includes a coin holder, wallet, mining pool, and p2p exchanges, offers a cryptocurrency investment tool with the potential for one of the highest interest rates on the market.

The platform supports a range of cryptocurrencies, including BTC, LTC, BCH, ETH, and stablecoins like USDT and USDC. It also features daily payouts, which the company highlights as a key benefit for users needing a steady cash flow from their stored cryptocurrencies. 

The platform offers a range of accounts, including fixed or flexible options for early closure or partial withdrawal in various coins.

Coinhold appears to cater to a broad audience, from those new to cryptocurrency interested in exploring digital savings options to seasoned miners seeking to maximize their returns, with the backing of EMCD, the largest mining pool in Eastern Europe, and the top 7 mining pools in the world. Coinhold is presented as a dependable option for managing cryptocurrency portfolios.

You might also like: Investors must protect themselves from hidden defi costs in 2024 | Opinion

Setting up an account 

Setting up an account with Coinhold is a straightforward process. Users can download the EMCD app or register on the site and start saving.  

Once registered, users can open a new Coinhold account and configure automatic top-ups from their mining earnings, integrating their mining activities with their savings efforts seamlessly.

Depositing funds into a Coinhold wallet is also designed to be simple, accepting various cryptocurrencies as listed on the platform. 

The process supports transfers from external wallets or automatic top-ups from mining accounts, aiming to be hassle-free. The company emphasizes convenience, noting there are no fees for transfers between Coinhold and EMCD wallets.

Safety measures are integral from the outset. The company claims that funds begin accruing interest after a 24-hour waiting period following any deposit or withdrawal, a security step to ensure that balances remain secure.

This approach, according to the company, provides reassurance to users that their investments are well protected.

You might also like: Defi platforms see over $5.4m in liquidations as Ethereum declines 

Usability 

Coinhold user experience is crucial, and the service seems to meet expectations. The mobile app has high user ratings — 4.2 out of 5 on Android and 4.7 on iOS — indicating that the interface is user-friendly and intuitive. 

Ensuring compatibility with a wide range of devices is vital for a contemporary crypto wallet, a goal that Coinhold appears to have prioritized.

Coinhold’s emphasis on a user-friendly interface suggests that it is designed to accommodate both novice and experienced traders.

Security measures 

When managing finances, particularly digital assets, security is paramount. 

Coinhold emphasizes its dedication to safety with its compliance with regulatory standards and transparent operations, which the company highlights as foundational to building trust in the digital space.

According to Coinhold, these measures allow users to confidently store their funds, knowing the service prioritizes the integrity of their investments. The app is equipped with extensive security features that offer users various secure options for fund storage and the ease of managing transactions remotely. Two-factor authentication helps thwart unauthorized access, an essential security layer in today’s digital ecosystem. 

Additionally, Coinhold provides round-the-clock technical support to resolve any issues, aiming to minimize service interruptions swiftly.

You might also like: Multisig in defi: a marketing gimmick or a real security solution? | Opinion

Coinhold’s withdrawal process

Coinhold has reportedly streamlined its withdrawal process, which, according to user feedback, is typically smooth, with funds generally available within 24 hours — a security measure the company deems necessary. Coinhold does not require mandatory Know Your Customer (KYC) checks for withdrawals, reflecting its commitment to user privacy.

The platform offers the flexibility for users to partially or fully withdraw their funds at their discretion, enhancing their control over their investments. With the added benefit of fee-free withdrawals and the option to open deposits at will, Coinhold claims that its withdrawal process is designed to accommodate the varied needs of its user base.

What is EMCD? 

EMCD operates as an ecosystem catering to miners and cryptocurrency enthusiasts backed by one of the world’s top 7 mining pools. Founded in 2018, EMCD has grown to serve over 200,000 users, providing efficient cryptocurrency mining services and profitable storage solutions.

Read more: Defi TVL reaches 20-month highs with Ethereum dominating the scene

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Can altcoins rebound? Analyzing expert predictions and key indicators following Bitcoin’s recent halving.

In the wake of Bitcoin’s (BTC) recent halving event, the crypto market has been anything but predictable. 

While many anticipated a surge in Bitcoin’s value, the reality has been a bit more subdued. In fact, the market remains relatively flat, lingering below the record-breaking highs witnessed in March 2024. Throughout this period of anticipation and adjustment, altcoins have taken a hit. 

Investors seemed to have favored Bitcoin over its alternatives, causing a noticeable bleed in the altcoin market. Since March, the combined market cap of altcoins has seen a sharp decline, plummeting from a peak of $1.27 trillion to a low of $908 billion by Apr. 13. 

Altcoins market cap chart | Source: Trading View

Although there has been a modest recovery since then, with the market cap climbing back to around $1.06 trillion as of Apr. 23, the road to stability remains uncertain.

The past month has been particularly challenging for many altcoins. Approximately 80% of the top 100 altcoins have witnessed declines ranging from 2% to as much as 50%. 

Even Ethereum (ETH), the leading altcoin by market cap, has not been immune to this downturn. Despite reaching a high of $3,727 on Apr. 8, its value has steadily declined in the days that followed. 

As of Apr. 23, Ethereum is trading at approximately $3,200, reflecting the downward trend in the altcoin market.

With Bitcoin’s dominance remaining strong, where could altcoins potentially find their footing in the market? Let’s find out.

Are we in an altcoin season?

In bullish market cycles, Bitcoin typically leads the charge, attracting mainstream attention and investment.

Following Bitcoin’s surge, a phenomenon known as the “altcoin season” often occurs, where capital flows into altcoins. This pattern has been observed in previous bull markets, such as those in 2017-2018 and 2020-2021, where altcoins sometimes outperformed Bitcoin.

During an altcoin season, Bitcoin’s dominance in the market tends to decrease as altcoins collectively gain a larger share. However, the current market situation does not reflect this trend.

Where could altcoins go, and what factors could trigger it?

Analyzing data from past cycles, we find that altcoin seasons historically commence shortly after the Bitcoin halving event. 

One crucial metric to monitor for signs of an impending altcoin rally is the Altcoin Season Index. This index provides insights into the relative strength of altcoins compared to Bitcoin. 

While the recent Bitcoin halving event initially caused the index to dip, indicating a period of Bitcoin dominance, it’s essential to note that altcoins experienced a steeper decline in value during this time.

When the Altcoin Season Index surpasses a certain threshold, typically above 75, it suggests an increased probability of an altcoin rally. 

As of the latest data, the Altcoin Season Index stands at 39, indicating that an altcoin season may still be some time away.

Fortunately, it isn’t #altcoin season yet, so there is still plenty of time to prepare. But you cannot wait for the #altcoin season to begin before you start positioning yourself. It’s better to get in early than late! pic.twitter.com/MtGGgk1V3D

— Ali (@ali_charts) April 20, 2024

Another critical indicator is Tether (USDT) Dominance, which tracks the market share of the USDT stablecoin compared to other cryptocurrencies. 

A downward trend in USDT dominance suggests that investors are increasingly willing to take on risk by exchanging stablecoins for crypto assets, potentially signaling the beginning of an altcoin season. The current analysis of the USDT dominance chart shows that making new lower lows correlates with the early signs of altcoin rallies. 

USDT dominance chart | Source: Trading View

Conversely, a change towards an upward trend in USDT dominance would indicate a preference for stablecoins over altcoins, potentially delaying the onset of an altcoin season.

Timing is also crucial to consider. While altcoin rallies can occur at any time, they often coincide with specific market conditions, such as several weeks or months after Bitcoin’s halving events. 

This delay can be attributed to the time it takes for market participants to digest the implications of Bitcoin’s halving and reallocate their investments accordingly.

To gauge whether altcoins are picking up pace, you should pay close attention to an increase in trading volume accompanied by sustained price appreciation across multiple altcoins.

What do experts think?

Emperor, a seasoned crypto analyst, observes that pre-halving Bitcoin dominance was on the rise, nearing its peak support level established after the post-halving dump in 2020. 

Pre-Halving BTC Dominance Pump Almost Completed. 1. Increased EXACTLY till the last support level created after post-halving dump in 2020.2. Most altcoins already outperforming BTC. We might have a major alt rally while approaching May if BTC remains stable.This aligns with… pic.twitter.com/msLYk8H4Dg

— Emperor👑 (@EmperorBTC) April 20, 2024

As we approach May, Emperor anticipates a potential major rally in altcoins, especially if Bitcoin maintains stability.

Emperor suggests a speculative scenario where Bitcoin may recover to around $68,000 or even reach its all-time high, attracting top buyers looking to exit at profitable levels. 

Meanwhile, altcoins, particularly those that have shown strength in recent months, may experience rallies.

Michaël van de Poppe, another respected crypto analyst, echoes the sentiment that the post-halving market sentiments are shifting towards altcoins. 

#Bitcoin halving has finished and the markets are going up again. Bitcoin dominance goes back down, which means that the rotation has slowly started. pic.twitter.com/2u4BmfRzdk

— Michaël van de Poppe (@CryptoMichNL) April 22, 2024

He notes that as Bitcoin dominance decreases, indicating a rotation in the market, the time for altcoins is on the horizon. 

Michaël also suggested the role of Ethereum (ETH), which is evolving into a stronger settlement layer within the crypto ecosystem that could impact altcoin performance in the coming months.

The time for #Altcoins is on the horizon. It depends on Ethereum, which is currently becoming a stronger settlement layer. The likelihood of an ETF is low, but the answer is coming in a month. I'm positioning long on this.

— Michaël van de Poppe (@CryptoMichNL) April 22, 2024

Hence, you should closely monitor key indicators, such as Bitcoin dominance, and keep a check on altcoins to make informed decisions about your crypto portfolios. Always remember the golden rule of investing: never invest more than you can afford to lose.

Read more: Bitcoin’s post-halving behavior: trends and analysis

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Arbitrum and Cardano prices may fall, while Milei Moneda’s presale draws investor interest with promising returns.

As the crypto market sell-off continues, Arbitrum (ARB) and Cardano (ADA) prices have suffered notable downtrends over the past month. This has caused many investors in these once high-flying projects to look elsewhere for refuge.

The presale of Milei Moneda (MEDA) has emerged as a possible saving grace, promising double-digit returns that could help mitigate their losses from bearish price action.

You might also like: Experts eye Milei Moneda presale amid anticipated SOL, BNB surge 

Arbitrum faces downtrend despite recent developments

The price of Arbitrum has dropped more than 30% over the past month amid broader market weakness. This steep decline follows a token unlock event in which approximately 92.65 million ARB tokens were distributed to advisors, team members, and investors.

More recently, Arbitrum deployed its BOLD testnet in an effort to strengthen the network, allowing anyone to participate in transaction validation and withdrawals back to Ethereum. However, the price of Arbitrum continues to trend downward, falling over 15% just last week.

Given the prevailing bearish sentiment in the market, numerous crypto analysts anticipate a further decline in the value of Arbitrum. According to their projections, the price of Arbitrum will reach as low as $1.02 before the end of April. 

You might also like: NEAR, XRP fans enjoy gains amid growing attention for Milei Moneda

Surge in large holder inflows fails to boost Cardano 

After maintaining its position on the top 10 altcoins list for several years, Cardano experienced a relatively modest year-to-date gain of just under 4%. This performance has allowed Toncoin and Dogecoin to surpass Cardano in terms of crypto market cap, pushing it down to the eleventh position.

Despite recent data from leading analyses revealing a staggering 28,372% surge in large holder inflows for Cardano, with the number of ADA tokens held by significant investors skyrocketing from 54.93 million to 6.32 billion in April, the price of Cardano has continued to decline. In the past week alone, Cardano has witnessed a significant drop of over 20% in its price.

Furthermore, market analysts believe that if the current market volatility persists, the value of Cardano is expected to continue its downward trajectory. They predict the price of Cardano could drop to as low as $0.35 before the end of April.

You might also like: Milei Moneda eyes 10x gains; analysts bullish on BCH and SOL

Market downturn pushes investors towards Milei Moneda presale

Amid the persistent decline in prices observed on major cryptocurrencies like Arbitrum and Cardano, investors are turning their attention to the Milei Moneda presale as a potential alternative. Milei Moneda, a memecoin inspired by the meme-worthy Javier Milei, has garnered significant recognition and popularity due to its distinctive approach and possible benefits.

Market experts who have conducted a comprehensive analysis have indicated that Milei Moneda has the potential to become one of the most promising crypto investments in 2024. Unlike other meme coins relying solely on hype, Milei Moneda focuses on tangible utility and long-term growth, adhering diligently to a well-defined roadmap. 

At present, the MEDA presale is in Stage 2, offering tokens at an altcoin price of $0.0125. As the presale progresses to Stage 3, the MEDA token price will increase. Once the presale concludes, MEDA will launch with a defi coin price of $0.020, offering Stage 1 and Stage 2 investors an impressive 100% and 60% ROI, respectively.

To learn more, visit the Milei Moneda website or reach out on Telegram.

Read more: Investors shift focus to Milei Moneda amid XRP, SEI market turbulence

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

LeGoat (LBJ) is set to launch its LeGoat Ball Club (LGBC), marking the world’s first exclusive social club inspired by basketball legend LeBron James. 

Membership will be secured through blockchain as Non-Fungible Tokens (NFTs), pioneering a new frontier in digital ownership.

LeGoat (LBJ) unveils LeGoat Ball Club (LGBC)

LeBron James (LeGOAT), a meme coin built on the Solana blockchain, is gearing up to launch its LeGoat Ball Club (LGBC). 

This exclusive social club will pioneer a unique membership system using blockchain technology, where memberships are represented as Non-Fungible Tokens (NFTs). These NFTs grant token-holders access to amenities, including gyms, restaurants, yacht club privileges, lotteries, loyalty programs, and various cultural and social events.

You might also like: LeBron made historical record at Crypto.com Arena

According to the project’s whitepaper, there are no taxes or unnecessary complications. LP tokens are burnt, and ownership of the contract is renounced. The total supply of LeBron James (LeGOAT) is 1 billion tokens.

Additionally, the project plans to roll out its first merchandise line and webshop with a community ownership model in mind, allowing members to buy in or stake their tokens to secure a share.

The project’s airdrop is underway, with the distribution date yet to be decided. Moreover, the team plans to host a giveaway of LeBron James memorabilia once certain milestones are reached.

Fostering sportsmanship and community engagement, the LeBron team actively sponsors various athletic teams, including NCAA Basketball, Minor League Baseball, and Football teams in Asia, promoting competition and global outreach.

To get started on the LeBron James token (LBJ), download the Phantom wallet or any preferred wallet from the App Store or Google Play Store for free. Desktop users can get the Google Chrome extension.

Ensure you have SOL in your wallet to swap for LBJ. If you don’t have SOL, you can purchase it from a centralized exchange and transfer it to your Phantom wallet.

Next, connect to Raydium by visiting Google Chrome or using the dApp browser in your Phantom app. Connect your wallet and paste the LBJ token contract address into Raydium. Select LeGoat and confirm the transaction. When prompted by the Phantom wallet, sign in with your wallet signature.

You might also like: NFTs in sports: are they good for athletes’ careers?

Swap your SOL for LBJ. It has zero taxes, so you don’t need to worry about specific slippage when buying. However, during market volatility, you may need to adjust the slippage.

https://youtube.com/@LeGoatToken LeGoat token basketball fandom and blockchain innovation

Going beyond community engagement, LeGoat (LBJ) Token endeavors to harness the collective influence of LeBron’s supporters for philanthropic endeavors. 

Whether backing charitable causes, fortifying sports organizations, or affording disadvantaged youth opportunities to partake in sports, the token endeavors to effect tangible, benevolent change.

As per the project’s blog, LeGoat Token offers incentives to its community members, plans for a forthcoming loyalty program, and a gamut of engaging activities are on the agenda.

According to research, LeGoat Token is special among Solana meme coins, as it encourages people to join the community, donate to good causes, and reward people who get involved. It’s a way to honor investors and help others simultaneously.

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Read more: LeBron James wears rare NFT-driven Nike sneakers, attends NBA match

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

In an exclusive sitting with crypto.news, Yair Cleper, CEO and founder of Lava network, discussed the intricacies of the Remote Procedure Call (RPC) protocols and their role in the evolution of blockchain tech.

RPCs are protocols that allow applications to communicate with a blockchain and are, as such, essential for the development of decentralized applications (dApps). Recent challenges with RPC reliability have been a major topic of discussion in the crypto industry.

Lately, RPC disruptions have affected the functioning of major networks like Solana and Manta, resulting in industry-wide calls for better RPC infrastructure. 

Cleper’s Lava network has created a platform that connects dapps to the best RPC providers in an effort to address the challenges faced by blockchain networks, uniquely positioning him to offer insights on the subject.

What are some of the key factors contributing to RPC unreliability in various blockchain ecosystems?

The reasons for RPC unreliability depend on which ecosystem you are looking at. On Ethereum, it’s down to centralization, where a couple of major providers support most of the traffic, and if they become unavailable, dapp users cannot connect with Ethereum. However, on most other chains, especially newly launched chains, unreliability is due to the fact that RPC support primarily comes from community members who voluntarily spin up nodes. 

Is there a way to address these?

Some basic measures to improve reliability would be to make it easy and obvious for users to switch to another provider if one becomes unavailable. Another option is to promote a diversity of providers so the ecosystem does not become overly reliant on a small handful.

And from your perspective, what are the broader consequences of RPC downtime for dApp developers and their users across the blockchain ecosystem?

If RPC goes down, for a user, this is the same as the blockchain itself going down. We’ve already seen many past outages or congestion issues which have resulted in users not being able to connect to chains. This was particularly obvious on Ethereum during DeFi and NFT summer, where one huge NFT mint would be enough to bring down multiple RPC providers.

Can developers mitigate such risks? 

Developers can mitigate these risks by using a decentralized and highly redundant service like Lava, which aggregates multiple RPC providers into one network and has automatic fall-backs in case of provider downtime. Some developers are already using solutions like load-balancers, which can also help.

You might also like: Ankr teams up with XDC Network to launch RPC Integration

Recent high-profile RPC outages have highlighted vulnerabilities in the current dapp infrastructure. How does Lava plan to mitigate such risks, ensuring reliability and continuity for users and developers?

Lava is building a network for chains and rollups to easily bootstrap their RPC and API infrastructure through a mechanism called Incentivized Public RPC. We are building Lava with many considerations in mind. The network must be agnostic to support any chain and API. It must be permissionless and can quickly support any in-demand chain and API. It must offer low latency and geolocation-based routing, with requests sent to servers closest to the user. It must be super reliable and highly available. Finally, it should be decentralized, with no single point of control that can prevent someone from accessing the blockchain. This would defeat the point of web3. 

Are any chains already implementing this?

Lava already actively works with different chains, including NEAR, Evmos, and Axelar, to bootstrap, optimize and decentralize their infrastructure. 

How did you envision the evolution of decentralized data access layers in terms of technology and adoption?

Lava was designed to be highly flexible as a data access layer, and RPC is only the start of the many potential use cases for the network. As blockchains increase in adoption, Lava will support more complex and specialized APIs which can retrieve indexed data specific to a dapp or set of smart contracts. Additionally, today, data access layers are primarily designed for chains to onboard more dapps. However, in the future, dapps will become app-specific rollups; they will become blockchains themselves. This means Lava’s ability to permissionlessly and dynamically support new chains, faster than centralized providers, will become increasingly important.

So will RPC providers play a key role in the evolution of blockchain tech? 

Whether you’re a dapp or you’re a rollup developer, RPC is the fundamental infrastructure you need, and only Lava has solutions for both. 

Read more: POKT Network expands access to blockchain data with 3 new gateways

Will Bitcoin’s price rally in the aftermath of the halving, or are there factors that could potentially impede its upward momentum?

The much-anticipated event, the fourth Bitcoin (BTC) halving, has finally taken place, marking a new milestone in BTC’s journey. 

A halving event occurs approximately every four years, resulting in a 50% reduction in the number of Bitcoins awarded to miners for validating transactions. 

With this recent halving, the reward has reduced from 6.25 BTC to 3.125 BTC per block.

Following this latest halving, Bitcoin is trading relatively flat. As of Apr. 23, Bitcoin is exchanging hands at $66,500 levels, representing a 3.5% gain in the preceding twenty-four hours.

The 840,000th block on the Bitcoin network, the halving block, was successfully mined by ViaBTC. This earned the miner over 40 Bitcoins, equating to more than $2.6 million in block rewards and fees. 

Now, with the halving behind us, the focus shifts to what lies ahead for Bitcoin. Where might its price lead, and what can we anticipate in the coming days? 

Let’s delve into these questions to gain a clearer understanding of Bitcoin’s post-halving situation.

Where could BTC head next?

As Bitcoin enters its post-halving phase, several key indicators offer insights into its potential direction. 

Recent data from a Bitfinex report indicates a notable uptick in BTC outflows from centralized exchanges, reaching levels not seen since January 2023. 

This surge suggests a shift in investor behavior towards accumulation, driven by the anticipation of price appreciation following the halving event.

Moreover, analysis of Bitcoin supply movements reveals a transitional phase, marked by a decline in activity among long-term holders (LTHs) and an increase in transactions involving newer investors. This decrease suggests that LTHs may be capitalizing on profits.

#Bitcoin adoption is what really drives the price, and the price is valued by the network by the numbers of connections. It is simple.During the bubbles Long Term Holders simply get profits and sell to the new comers. Price goes back to the power law trend, that is really… pic.twitter.com/8kV1Imqh9O

— BTC_POWER_LAW / PlanG (@Giovann35084111) April 20, 2024

Meanwhile, the influx of newcomers is reflected in the Market Value to Realized Value (MVRV) ratio for short-term holders (STHs), which remains below historical peak thresholds, indicating room for further growth.

The successful absorption of supply from LTHs could bolster the bullish outlook for Bitcoin, potentially shoring up critical price levels from a structural standpoint. However, the likelihood of this scenario remains uncertain.

Will the BTC price increase?

Traditionally, Bitcoin prices have experienced upward momentum for months after a halving event. However, this time, we can expect a deviation from the norm due to several key factors.

One notable difference is the compressed nature of the price cycle surrounding this halving. 

Unlike previous cycles, Bitcoin has already witnessed substantial surges and even reached new record highs prior to the halving. This accelerated growth path may alter the typical post-halving gains.

Meanwhile, regulatory approvals for Bitcoin investment products, such as spot Bitcoin ETFs, have injected optimism into the market. 

The recent approval of ETFs in Hong Kong, coupled with previous approvals in the U.S., has facilitated regulated retail investment in Bitcoin, potentially mitigating market volatility.

However, Bank of America projects inflation to reach 4.8% by the 2024 election, heightening concerns. 

Recent CPI data, averaging 0.4% monthly inflation, signals a persistent uptrend, potentially surpassing the Fed’s 2% target by a large margin. 

The possibility of delayed rate cuts due to strong CPI figures may bolster the dollar’s value. In such scenarios, investors might favor traditional assets like the dollar over crypto, impacting demand for BTC.

Furthermore, the lingering impact of soaring living costs in various parts of the world, such as Argentina and Turkey, where inflation is at record high levels, could leave many investors with limited disposable income, dampening their willingness to invest heavily in Bitcoin. 

As economic and geopolitical situations loom, investors must remain cautious about allocating large capital to Bitcoin. 

What to expect next?

Amid wide-ranging sentiments, analysts are buzzing with predictions and observations about BTC’s next moves. Some are eyeing ambitious targets, while others are cautious.

One analyst has been steadfast in their focus on a major target range for Bitcoin: $80,000 to $85,000. However, they acknowledge that the potential for Bitcoin to climb even higher remains on the table.

#Bitcoin $BTC 's next major target: $80,000-$85,000🎯Anyone who has been following me for a while knows that I've been focussing on this target since 2022. Can it go higher? Of course. It's just an important interim target.Send it.🫡 pic.twitter.com/a79L3Il8oh

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) April 22, 2024

Meanwhile, another analyst remains bearish in their analysis, noting the yet-to-be-reached $58,000 target for Bitcoin. 

I’m glad that what I always predict it’s happened. But still yet to hit my 58k target. It’s ok, we let see this few days what the market performance now. And we can’t do anything right now, because below having a strong support there. $BTC #BTCX(twitter):… pic.twitter.com/uQujmywOvs

— DSJ (@dsjcrypto) April 17, 2024

In contrast, renowned analyst Michaël van de Poppe described this halving as “the most boring price action.” 

The most boring price action on a #Bitcoin halving I've ever seen.Good, that means that from here on we're in a bull cycle and everything is all right. #Altcoins are the next step forward.

— Michaël van de Poppe (@CryptoMichNL) April 20, 2024

However, he interprets this as a positive sign, suggesting that the subdued volatility hints at the potential for altcoins to take center stage in the next phase of market development.

While excitement and optimism prevail, it’s crucial to exercise caution. Remember, never invest more than you can afford to lose.

Read more: Bitcoin halving will resurrect GameFi ghosts of 2021 | Opinion