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On Apr 18, 2024, 22:18 PM(UTC). According to Binance Market Data, BNB has dropped below 550 USDT and is now trading at 549.799988 USDT, with a narrowed 2.48% increase in 24 hours.

According to Bloomberg, the much-anticipated crypto event, Token2049, faced unexpected challenges in Dubai this week due to severe weather conditions. Torrential rains flooded runways, roads, and building lobbies, causing significant disruption to the city's infrastructure. Attendees of Token2049 were left stranded at Dubai airport for extended periods as taxi services were disrupted. Some were forced to sleep on the airport floors, dealing with broken lavatories and closed restaurants, while others were stuck in planes overnight, unable to land or return.

Despite these challenges, the main conference commenced as scheduled on Thursday, according to some participants. However, the severe weather conditions turned what should have been short car journeys into hours-long ordeals, with some individuals opting to navigate the water-logged roads on foot. The luxury 5-star hotel resort of Madinat Jumeirah, the venue for the main conference, was not spared from the weather's impact, with leaks and puddles appearing throughout the property. Similar conditions were reported at the Mall of the Emirates, known for its indoor ski slope. The unexpected weather conditions also led to the cancellation of several crypto-focused side events.

According to CryptoPotato, Worldcoin, a project co-founded by Open AI CEO Sam Altman, is set to launch an Ethereum layer-2 blockchain that prioritizes verified humans over bots. The project, which uses iris-scanning technology to confirm a user's 'humanness', currently boasts over 10 million users, half of whom have verified their human identities using the project's Orb.

In a blog announcement on April 17, Worldcoin introduced its new human-centered blockchain, World Chain, which will be built on Optimism’s Superchain. Worldcoin is the largest protocol on Optimism, an Ethereum Layer-2 scaling solution, accounting for 44% of user transactions on the network, and sometimes over 80% during peak periods. The continuous growth of the Worldcoin community led developers to build an independent chain. The Worldcoin Foundation aims to prioritize human transactions on the World Chain network, in a sector that is mainly controlled by bots.

Automated transactions, which account for more than half of user activity on major blockchains, often cause network congestion and high gas fees that affect human users. World Chain, however, aims to solve this issue by focusing on users who verify their identity using the World ID, which will enable them to get a free gas allowance and 'faster confirmation times' over bots. Ether (ETH) will serve as the native token for World Chain, but verified users will be able to use Worldcoin (WLD) tokens when they claim their token grants to pay for fees. The World Chain launch is slated for this summer.

Despite its innovative approach, Worldcoin continues to face regulatory hurdles in different countries, with the issue of possible privacy violations causing concern for data protection regulators. In March, authorities in Portugal and Spain instructed Worldcoin to halt its biometric data collection for 90 days, while Hong Kong began an investigation into the project in January. Despite these setbacks, Worldcoin has recorded over 10 million users on the World App – the World ID-compatible crypto wallet app designed by Tools for Humanity (TFH) – in 160 countries, with more than five million having verified World IDs. The wallet app also boasts over 70 million transactions.

According to CryptoPotato, Cardano's ADA has experienced a significant decline, currently priced around $0.45, reflecting a broader market downturn. Despite this, analysts remain optimistic, with forecasts suggesting a rebound to $1 in the near term and possibly reaching higher milestones like $1.70 or even $10 under favorable conditions.

In the past few weeks, Cardano's ADA has underperformed, coinciding with the broader crypto market retreat. Its price currently hovers around $0.45, representing a 22% decline on a weekly scale and 25% in a month. However, a chart analyst using the X handle Trend River believes ADA may experience a substantial rally in the following months if it mirrors its performance from the past. The analyst stated, 'If history repeats itself, we might be on the cusp of ADA’s ultimate support test before skyrocketing. Recall October 2020? The price dipped to $0.10 before soaring to $3.'

The analyst also claimed that fear levels related to Cardano’s native token 'are peaking,' which indicates the testing of major support zones. 'If it manages to hold, we could be at the exact bottom right now before the move to $1,' Trend River predicted.

Earlier this month, another analyst, Ali Martinez, presented a chart, according to which ADA’s valuation 'is exactly where it should be.' He thinks the token is poised to reach $1.70 as long as it enters the $0.55-$0.80 range. Previously, the analyst envisioned a 'parabolic' jump for ADA to a new all-time high of $10.

According to Bloomberg, JPMorgan Chase & Co and Deutsche Bank AG have stated that the Bitcoin software update known as the 'halving', which occurs every four years, is largely factored into the cryptocurrency's current value. The analysts from these banks believe that the main impact of this event will be on Bitcoin mining rather than its price.

As unprofitable miners leave the Bitcoin network, the sector is expected to consolidate, with publicly-traded companies best positioned to gain market share. JPMorgan analysts noted that publicly-listed Bitcoin miners are well equipped to benefit from the new environment, primarily due to their greater access to funding and equity financing. This allows them to expand their operations and invest in more efficient equipment.

Deutsche Bank analysts also do not anticipate a significant increase in Bitcoin prices following the halving. They explained that the Bitcoin algorithm has already accounted for the halving, and this event has been factored into the market. The halving reduces the mining reward, a fixed amount of Bitcoin released from the network to compensate miners for validating its transactions, by half every four years.

In the past, the total mining capacity of the industry, measured by the hashrate, generally falls after a Bitcoin halving as some miners are priced out of the market. Deutsche Bank noted that after the first three Bitcoin halvings, the hashrate dropped by 25%, 11%, and 25% respectively.

Despite not expecting drastic price fluctuations, Deutsche Bank still expects Bitcoin prices to remain high due to expectations of spot Ethereum ETF approvals, central bank rate cuts, and regulatory changes. They also mentioned a surge in layer-2 solutions and DeFi activity, which enhance the network's practical utility, making the setup look remarkably favorable for the Bitcoin ecosystem and the wider crypto space.

Currently, the US accounts for 40% of Bitcoin mining. However, both JPMorgan and Deutsche Bank agree that it is likely that some Bitcoin mining firms would look to diversify into 'low energy cost regions' such as Latin America or Africa post-halving to locate their inefficient mining supply and gain salvage values from those rigs which would otherwise sit idle.

According to CryptoPotato, two of the largest banks in the United States, JPMorgan and Goldman Sachs, are advising cryptocurrency investors to exercise caution ahead of the upcoming Bitcoin halving. Analysts predict that this halving may not follow the patterns of previous cycles. In a recent report, JPMorgan suggested that Bitcoin's price is unlikely to increase after the halving, and may instead continue the downward trend that began earlier this month.

JPMorgan's perspective aligns with its consistently bearish forecasts throughout the year, remaining unswayed by the growing optimism surrounding Bitcoin spot ETFs or the halving. Analysts led by Nikolaos Panigirtzoglou stated, 'We do not expect bitcoin price increases post-halving as it has already been priced in. In fact, we see a downside for the bitcoin price post-halving for several reasons.' The analysts used the price of gold as a reference point, arguing that Bitcoin's price should only be $45,000 on a volatility-adjusted basis, indicating that its current market price of $63,700 is significantly overbought. This view is supported by a continuing long bias in Bitcoin futures open interest and a lack of venture funding in the crypto industry this year.

Goldman Sachs, in a note to clients last week, acknowledged that Bitcoin's past three halving cycles have resulted in substantial price increases in the aftermath, although the exact time it took to reach a new all-time high afterward has varied greatly. This cycle appears even more different: Bitcoin already topped its previous cycle’s all-time high above $69,000 in March, one month before the halving even occurred. The analysts warned against extrapolating past cycles and the impact of halving, given the respective prevailing macro conditions. The halving itself is due later this week, expected on April 20 at 01:44 UTC. Regardless of whether it results in a 'buy the rumor, sell the news' event in the short term, Goldman believes BTC’s immediate price action is hardly relevant. 'Bitcoin price performance will likely continue to be driven by the said supply-demand dynamic and continued demand for bitcoin ETFs, which combined with the self-reflexive nature of crypto markets is the primary determinant for spot price action,' the bank said.

According to PANews, Tether's CEO, Paolo Ardoino, has expressed his interest in collaborating with one of the Big Four accounting firms. These firms include Deloitte, PricewaterhouseCoopers, Ernst & Young, and KPMG. However, Ardoino has acknowledged that these firms may be hesitant to work with Tether due to concerns about potential damage to their reputation.

Despite this, Ardoino has stated that securing a partnership with one of these prestigious accounting firms is a 'top priority' for Tether. This move is seen as a significant step towards enhancing the credibility and transparency of the company. The CEO's comments come amidst growing scrutiny of Tether's operations and financial practices.

It remains to be seen whether any of the Big Four will be willing to take on Tether as a client. The potential partnership would undoubtedly be a significant development in the cryptocurrency industry, given the size and influence of these accounting firms. However, the concerns about reputational risk highlight the challenges that cryptocurrency companies face in gaining acceptance in the traditional financial world.

According to Foresight News, the Uniswap Foundation has announced that the Uniswap v4-core (PoolManager) is about to enter a code freeze period. The v4 functionality will be considered complete, with no further additions, rebuilds, or significant changes, such as removing hook permissions or implementing dynamic fees.

Once the code freeze is in place, developers will be able to implement hooks, create interfaces, implement position management with other external contracts, and write code that can be used for production without the need for forced reconstruction.

In addition, after the code freeze, the core contract will enter the audit stage. It is expected that v4 will be deployed later this year.

According to Foresight News, Lambda Finance, a stablecoin project in the Bitcoin ecosystem, has successfully raised $1.8 million in an angel round of funding. The round saw participation from several notable investors including Michael Egorov, the founder of Curve, Hashcow Group, and AladdinDAO. Further details about the funding round or the plans for the utilization of the funds were not disclosed.

According to BlockBeats, Particle Network announced on April 18th that MERL shares on Merlin Chain's People's Launchpad will be open for claiming from the next day at 12 PM Beijing time. Users who participate in the Launchpad and acquire MERL will need to claim their shares in six installments over a six-month period. The shares will be released in the order of 50%, 25%, 12.5%, 6.25%, 3.125%, and 3.125%.

This announcement by Particle Network indicates a structured approach to the distribution of MERL shares, ensuring a gradual release over a period of six months. This method of distribution allows for a balanced and fair allocation of shares to all participants in the Launchpad.

The Merlin Chain's People's Launchpad provides a platform for users to participate in and benefit from the growth of the Merlin Chain. The availability of MERL shares for claiming is a significant step in the growth and development of the Merlin Chain, providing opportunities for users to become part of this expanding network.

According to Foresight News, Particle Network, a modular public chain, has announced that the first Launchpad event for MERL claims will commence at 12:00 Beijing time on April 19. The announcement further stated that MERL can only be claimed six times within six months, and will be released in proportions of 50%, 25%, 12.5%, 6.25%, 3.125%, and 3.125%. The Particle Network's decision to stagger the release of MERL claims is a strategic move that aims to ensure a smooth and orderly distribution process. This announcement marks a significant milestone for the Particle Network as it continues to expand its operations and services.

According to Foresight News, Lido has announced the release of a dual governance interpreter on its forum. The temperature check snapshot vote is scheduled to go live on April 18. If the vote passes, it is expected to deploy a test network in the third quarter and a main network in the fourth quarter. The dual governance system allows stETH holders to delay any proposed changes to the Lido protocol in the worst-case scenario until they fully withdraw ETH from the protocol. The goal of dual governance is to prevent LDO holders from changing the protocol's social contract with stETH holders without their consent.

In July 2023, Foresight News reported that according to Decrypt, Lido DAO contributor Marin Tvrdić stated during the EthCC event that Lido DAO members are pushing for a dual governance model. This model would give veto power over governance proposals approved by LDO holders to Lido users who stake Ethereum and hold stETH.

On Apr 18, 2024, 15:10 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 64,000 USDT benchmark and is now trading at 64,000.738281 USDT, with a 4.80% increase in 24 hours.

Binance Megadrop represents a groundbreaking initiative by Binance, combining the Binance Simple Earn and Binance Web3 Wallet for an innovative token launch platform. This article will serve as your comprehensive guide to understanding and participating in Binance Megadrop, helping you to gain early access to promising Web3 projects and earn substantial rewards.

What is Binance Megadrop?

Binance Megadrop is designed to reinvent the traditional airdrop experience. By integrating key features of Binance’s services, Megadrop allows participants to access new tokens and engage deeply with the emerging Web3 ecosystem. This platform not only offers a unique blend of education and rewards but also enhances user interaction within the crypto community.

Why Choose Binance Megadrop?

Advantages for BNB Holders and New Users

Binance Megadrop offers dual benefits, acting as a catalyst for both passive income and educational growth within the cryptocurrency space. This innovative platform allows participants to enjoy the advantages of Launchpool while engaging with Megadrop activities. For BNB holders, it's an excellent avenue for securing consistent new token rewards as a token of appreciation for their long-standing support.

Opportunities for Non-BNB Holders

Importantly, Megadrop is inclusive, extending opportunities to those who previously could not participate in Launchpool due to not holding BNB. Through engaging with tasks in the Binance Web3 Wallet, users can earn new currency rewards, bridging the gap between simple token holding and active participation.

Educational Benefits and Web3 Engagement

Furthermore, Binance Megadrop and Launchpool collectively encourage users to deepen their understanding of Web3 technologies. By participating in various tasks, users not only stand to gain new currency income but also acquire valuable knowledge about the evolving Web3 space. This approach aligns with Binance's commitment to fostering a knowledgeable and empowered user base.
 

Eligibility and Participation

To participate in Megadrop, users must be from an eligible jurisdiction. Note that while Binance strives to make its services globally accessible, certain restrictions apply due to regulatory variations. If you find yourself restricted from one feature, you might still participate through other functionalities like the Web3 Wallet quests or by locking your BNB in Binance Earn.

How to Participate:

Log into your Binance account and navigate to the Megadrop section via the "More" menu.

Explore available projects, select one to view its details, and engage in various quests to earn points.

Check your eligibility and possible restrictions based on your jurisdiction.

Earning Points and Rewards

Megadrop offers multiple ways to accrue points that translate into rewards:

Lock BNB: Subscribe your BNB to Locked Products, with different subscription periods affecting your score.

Complete Web3 Quests: Engage with specific tasks using your Binance Web3 Wallet to earn additional points.

The total score that determines your rewards considers both the amount of BNB locked and your activity in completing Web3 quests.

Reward Distribution

Your Megadrop rewards are calculated based on your total score in comparison to all participants. Rewards are distributed to your Spot Wallet after the participation period ends, reflecting your engagement and investment in the platform.

Megadrop Versus Launchpool

While both platforms offer benefits for locking BNB, Megadrop is distinct in its integration with the Binance Web3 Wallet and its focus on new token launches. Participation in Megadrop can also count towards Launchpool rewards, making it a versatile choice for maximizing returns on your crypto holdings.

On Apr 18, 2024, 14:15 PM (UTC). According to Binance Market Data, BNB has crossed the 550 USDT benchmark and is now trading at 550 USDT, with a 2.79% increase in 24 hours.

Binance aims to democratize the cryptocurrency project launch process with its unique 'Megadrop' platform, as confirmed by co-founder He Yi at the recent Binance Chinese Meetup in Dubai. The platform is designed to provide a level playing field for promising projects, aside from the titan projects, and accommodate user participation.

The innovative framework requires participants to provide genuine accounts and addresses that have passed the KYC process. In doing so, Binance foresees the creation of more opportunities for its network of users. 

He Yi, the co-founder of Binance, dispelled concerns over the regulatory status of Binance's co-founder, Changpeng Zhao (CZ), in the United States during the Binance Chinese Meetup held in Dubai. Yi elaborated that CZ's current standing in the US is largely peaceful and past regulatory pressures have been internally anticipated. She believes the existing situation to be the most optimal outcome given the circumstances

He Yi, the co-founder of Binance, clarified Binance's position on cryptocurrency track listing during the "Binance Clubhouse" event on April 18th. In response to a question about whether Binance exhibits any preference in terms of a currency's listing track, He Yi stressed that Binance does not favor any particular track and maintains a stance of neutrality.

On Apr 18, 2024, 12:31 PM (UTC). According to Binance Market Data, Bitcoin has dropped below 62,000 USDT and is now trading at 61,930.011719 USDT, with a 0.85% decrease in 24 hours.