According to Cointelegraph: John Deaton Supports Coinbase in SEC Appeal by Filing Amicus Brief John Deaton, a known crypto lawyer who is presently running a Senate campaign to unseat Elizabeth Warren, has filed an amicus brief advocating for Coinbase. This step comes as the cryptocurrency exchange appeals certain matters in its legal battle against the United States Securities and Exchange Commission (SEC). Source: Courtlistener In an April 26 document filed in the U.S. District Court for the Southern District of New York, Deaton submitted the amicus brief supporting a motion for interlocutory appeal, representing 4,701 Coinbase customers. Interestingly, Deaton provided this legal aid pro bono, representing Coinbase users' interests distinct from the exchange itself. The brief insists that the SEC’s enforcement actions are evidence that "the regulator does not speak on behalf of digital asset users and investors and intends to offer no regulatory guidance beyond citing the Howey case." Deaton pointed to the SEC's lawsuits against crypto firms, such as Debt Box, alleging that the commission's approach was more adversarial towards the crypto industry than truth and justice-aligned. Though Deaton's actions appear tied to his ongoing Senate run based on his April 26 X post, he proposed himself as a legal representative for Coinbase users as early as June 2023—prior to announcing his campaign—after the SEC filed its lawsuit. Paul Grewal, Chief Legal Officer at Coinbase, informed that the interlocutory appeal seeks the court's discernment on whether a post-sale contractual obligation is essential for something to be defined as an "investment contract"—a foundation for deciding if something is a security under SEC regulations. This pivotal legal issue is key among those being contended in the SEC's lawsuit against Coinbase. Less than six months from the election day, it remains to be seen if Deaton's legal maneuvers might impact his Senate campaign, which is distinguished by his markedly different views on digital assets compared to incumbent Senator Warren.

According to Cointelegraph: EU's DeFi Regulations Could Welcome Big Banks but Test Crypto Natives New regulatory rules forthcoming for decentralized finance (DeFi) protocols in Europe could create significant hurdles for crypto-native projects while stimulating traditional financial institutions to enter the DeFi space, as per Marina Markezic, Executive Director of the European Crypto Initiative. Markezic discussed the European Commission's forthcoming DeFi report, set to be released on Dec. 30, 2024, during a recent interview with Cointelegraph. The report will scrutinize DeFi's regulatory feasibility under the Markets in Crypto-Assets (MiCA) framework. Markezic expressed her expectations from a DeFi regulatory framework stating that it could facilitate traditional players' entry into the crypto space since several banks are already considering issuing stablecoins. However, she cautioned that obtaining licenses and achieving compliance might become harder for crypto-native projects. The EU's report seeks to explore the regulation of decentralized systems, particularly those without a defined issuer or service provider. A crucial outcome may include initial definitions of what regulators perceive as decentralization. Markezic suggested that DeFi should be looked upon as a spectrum rather than a binary scenario. This 'DeFi spectrum' would consist of a range of different use cases, from fully decentralized systems to those that exhibit various levels of control and management. Legal experts push for clear standards instead of strict rules. Sascha Drobnjak, former head of legal and compliance at Elusiv protocol, emphasized that governments, policymakers, and the industry need to agree on what really defines DeFi. Revenue from the DeFi sector is predicted to reach approximately $6.69 billion in Europe by 2024, according to Statista, with a compound annual growth rate of 9.67% between 2024 and 2028, reaching $9.68 billion in revenue by 2028.

According to Cointelegraph: Bitcoin (BTC), Ethereum (ETH), and Other Top Cryptocurrencies' Price Analysis: Trends and Predictions Bitcoin (BTC) Price Analysis In a critical period for Bitcoin (BTC) and altcoins, the cryptocurrencies could be on their way to retest recent key support levels as bears strive to expand the correction phase. Bitcoin (BTC) continues to trade within a broad spectrum, pointing to uncertainty about the upcoming trend. Crypto market data daily view. Source: Coin360 Predictors keeping an eye on Bitcoin's next move are excited by the recent $1.3 billion USD Coin transferred to Coinbase by whale accounts, anticipating these funds will be invested in Bitcoin (BTC) and Ether. However, it's not only the top-ranked cryptocurrencies by market capitalization attracting investors. James Butterfill, Head of Research at CoinShares, revealed in a recent survey-based report that 15% of the 64 institutional investors had invested in Solana. It's worth noting that none of the investors held Solana in the January survey. BTC/USDT daily chart. Source: TradingView Furthermore, Mark Yusko, CEO of Morgan Creek Capital, stated in a recent podcast interview that approximately $300 billion of baby boomers' wealth is expected to flow into digital assets in the next 12 months. This could potentially drive the cryptocurrency market cap up to a staggering $6 trillion. As bears attempt to deepen the correction in Bitcoin and altcoins, potential buyers could potentially obstruct this path. Bitcoin's (BTC) price analysis shows it has been trading below moving averages for the past few days, yet bears struggle to bring the price down to key support levels. The figures suggest selling wanes at lower levels. To gain a deeper understanding of the current market trends of the top ten cryptocurrencies, chart analysis is crucial. For Bitcoin (BTC), a break and close below $59,600 might trigger a drop to the 61.8% Fibonacci retracement level of $54,298. However, a rise above the 50-day SMA could see the BTC/USDT pair climb to $73,777, a critical overhead resistance for bulls. Ether (ETH) price analysis: ETH Sees Tight Range Trading, Big Swing In The Horizon Ether (ETH) has been experiencing significant fluctuations between the 20-day Exponential Moving Average (EMA) ($3,209) and the horizontal support level of $3,056 in recent days. This limited range trading, depicted in the ETH/USDT daily chart, is unlikely to persist in the long run, indicating potential directional swings in the imminent future. ETH/USDT daily chart. Source: TradingView If the price manages to break above the 20-day EMA, the ETH/USDT pair could potentially rise to the 50-day Simple Moving Average (SMA) ($3,436). This level may pose a temporary barrier, but it's expected to be surpassed, potentially leading the pair to soar to $3,679. On the other hand, if prices plunge and breach the $3,056 support level, it might suggest that bears are gaining control. The ETH/USDT pair could then retest critical support at $2,852. A further plunge below this level may potentially initiate a decline towards $2,700. BNB Price Analysis: Battle Between Bulls and Bears Tightens around $635 Resistance Level Binance Coin (BNB) has been experiencing difficulties in surpassing the overhead resistance at $635, an indication of relentless bearish defense of the price level. However, bulls are not backing down, helping to alleviate a rapid price decline. The price could potentially retreat to the moving averages, establishing anticipated support levels. If the price uniquely rebounds off the moving averages, it could increase the chances of breaching the $635 resistance level. BNB/USDT daily chart. Source: TradingView In that scenario, the BNB/USDT pair could witness a surge toward $692, and eventually extend to the pattern target of $775, indicating a possible bullish outcome. However, if the price slumps below the moving averages, it might indicate an extension of the range-bound action for a few more days, reflecting a more bear-driven scenario in the short-term. Solana Price Analysis: SOL Faces Resistance at $162, Major Moves Expected Solana demonstrated a downturn from the overhead resistance of $162 on April 24, pointing to the significant activity of the bears at higher levels. With the 20-day Exponential Moving Average (EMA) gradually sloping down to $153 and the Relative Strength Index (RSI) in the negative territory, it suggests that bears currently hold the upper hand. SOL/USDT daily chart. Source: TradingView The SOL/USDT pair may well descend towards a strong support level at $126. Suppose the price robustly rebounds off this level. In that case, it could represent a potential scenario where the pair could remain trapped in the price range between $162 and $126 for a more extended period. However, the first positive indication would be a break and closing price above the 50-day Simple Moving Average (SMA) of $168. Such a move could pave the way for a possible rally towards $205. Conversely, a break below $126 could catapult the SOL/USDT pair down to the $100 mark. XRP Price Analysis: XRP Bulls Eye Support at Uptrend Line Ripple's native digital token, XRP is currently trading below the 20-day Exponential Moving Average (EMA) of $0.54, signaling a bearish market. Despite this, bulls are showing resilience, aiming to establish support at the uptrend line. XRP/USDT daily chart. Source: TradingView Should the price make a rebound off the uptrend line and propel above the 20-day EMA, it could suggest a weakening of the bears' influence. Under such circumstances, the XRP/USDT pair might subsequently attempt a rally toward the 50-day Simple Moving Average (SMA) of $0.59 and potentially ascend to $0.69. Contrarily, if the price continues on a downward trajectory and breaches the uptrend line, it could signify a firm bear grip on the market. The XRP/USDT pair might then plunge to $0.46, a level where robust support from the bulls is anticipated. Dogecoin (DOGE) Price Analysis: Symmetrical Triangle Forms as Bulls and Bears Lock Horns Dogecoin (DOGE) has recently traced a symmetrical triangle pattern, suggesting an ongoing bout of indecision between the bulls and the bears. With the 20-day Exponential Moving Average (EMA) sloping downwards to $0.16 and the Relative Strength Index (RSI) positioned in the negative zone, it implies that the easiest path for the price lies downwards. DOGE/USDT daily chart. Source: TradingView Should the price dip and sustain below the triangle, the DOGE/USDT pair might likely tumble toward $0.12, indicating a bearish outcome for the popular meme coin. Contrarily, if the price manages to rebound from the current level and breach the triangle, it would signal aggressive buying activities on dips. This would enhance the chances of an uphill break from the ongoing downtrend line. Subsequently, the DOGE/USDT pair could ascend toward $0.21, hinting at a bullish market outlook. Cardano Price Analysis: ADA Oscillates at Crucial $0.46 Support Level Cardano's recent price action bears witness to a dip from the 20-day Exponential Moving Average (EMA) of $0.50 that happened on April 23, eventually reaching a vital support level at $0.46. ADA/USDT daily chart. Source: TradingView If the price experiences a rebound off the $0.46 level, and in turn, establishes a position above the 20-day EMA, it is indicative that the correction phase may have run its course. Under such a bullish condition, the ADA/USDT pair might venture a rally up to the 50-day Simple Moving Average (SMA) at $0.59 and further to $0.68. However, a continued downward movement that leads to a break below $0.46 signifies the bears' dominance. Under such a scenario, the ADA/USDT pair might experience a slump, reaching the critical support at $0.40. A definitive breach of this level potentially signals a resumption of the downtrend. Shiba Inu Price Analysis: SHIB Stuck Between Moving Averages, Market Indecision Prevails Shiba Inu's price performance has seen it oscillating between the moving averages over the past few days. This pattern is indicative of an indecisive market, with both bulls and bears vying for control. The 20-day Exponential Moving Average (EMA), currently at a flat $0.000025, along with the Relative Strength Index (RSI) lingering somewhere around the midpoint, do not offer a clear hint favoring either the bulls or the bears. SHIB/USDT daily chart. Source: TradingView In a bearish scenario, if the price breaks and stays below the 20-day EMA, it implies that the bears have carved out their dominance. The SHIB/USDT pair could then slump toward a value of $0.000020. On the other hand, should the price surge and surpass the 50-day Simple Moving Average (SMA) at $0.000027, it would denote the bulls gaining the upper hand in the market. Under such a bullish wave, the SHIB/USDT pair could take a jab at rallying up to $0.000033.

According to Cointelegraph: Bitcoin (BTC) Price Holds Steady Against Regulatory Turbulence and Spot BTC ETF Outflows Despite dealing with a series of negative factors, including substantial outflows from spot Bitcoin exchange-traded funds (ETFs) and amplified regulatory scrutiny, Bitcoin (BTC) was able to maintain a value above $63,000 on April 26. U.S.-based spot Bitcoin (BTC) ETFs reported a considerable net outflow of $218 million on April 25, following $120 million outflow the previous day, according to Farside Investors. Franklin Templeton was the only provider recording inflows on April 25, implying that this withdrawal trend was not entirely induced by high fees at Grayscale's GBTC. Source: Geiger Capital In addition, US Senators Elizabeth Warren and Bill Cassidy sent a letter to the Department of Justice and Department of Homeland Security on April 25, requesting information on measures adopted to combat pseudonymous cryptocurrency payments for illicit child abuse material. Bitcoin (BTC) enthusiasts, however, are showing optimism despite deteriorating global economic conditions. The U.S. Personal Consumption Expenditures (PCE) rose by 2.8% year-on-year in March. Given that the U.S. GDP growth for Q1 was below expectations at 1.6%, this level of inflation, surpassing the Federal Reserve’s target, is concerning. With these metrics, market expectations that the Fed will sustain higher interest rates for an extended duration are growing. Amid this challenging economic landscape, Bitcoin participants remain cautious about the unsustainable path of the U.S. government's fiscal policy. Worsening macroeconomic conditions extend beyond the U.S. to other leading economies where similar issues could inadvertently strengthen Bitcoin's appeal. Ultimately, while Bitcoin's price has suffered from U.S. spot ETF outflows, regulatory stress, and global economic downturns, analysts suggest that weakened worldwide economic conditions may lead to additional central bank stimulus measures, which could enhance Bitcoin's prospects.

According to Cointelegraph: Bitcoin's (BTC) market inertia persists, with analysts predicting a likely dip in BTC prices over the next two weeks, reminiscent of classic post-halving behavior. BTC/USD 1-hour chart. Source: TradingView Bitcoin (BTC) May Be Gearing Up for a Price Drop Bitcoin's market inertia is proving to be a prolonged affair, with a BTC price dip over the next fortnight aligning with classic post-halving patterns. The cryptocurrency took a slide as trading conditions held the bulls at bay during the Wall Street opening on April 26. Rough Day for Bitcoin (BTC) ETFs Data from Cointelegraph Markets Pro and TradingView showed BTC price action completing a circle from highs of $65,300 down to the daily close. A stubborn resistance was in effect over the market due to unflattering macroeconomic data and poor performance from US spot Bitcoin exchange-traded funds (ETFs). Bitcoin ETF flows chart. Source: James Seyffart/X These ETFs experienced net outflows exceeding $200 million the day before, putting out the flame of what started as a promising week. A Gloomy Crypto Mood A sluggish mood across the crypto sphere led market participants to suggest that the overall Bitcoin price trend might remain static for a more extended period. Michaël van de Poppe, Founder and CEO of MNTrading, expressed a different take in his latest analysis. He proposed that altcoins would significantly diverge and deliver long-awaited gains. Classic Time for BTC Price Lows Rekt Capital, a popular trader and analyst, issued a two-week deadline for any substantial dips to occur while updating his surveillance of BTC price performance around the halving block subsidy. BTC/USD chart. Source: Rekt Capital/X An accompanying chart compared the anticipated behavior to historical norms, stating if additional downside volatility occurred, it would likely happen within the coming two weeks. Bitcoin's dominance of the overall crypto market cap was around 55% on April 26, having descended from a peak of 57%—the highest level in two years— on April 13. Bitcoin market dominance 1-week chart. Source: TradingView

According to BlockBeats, the US core Personal Consumption Expenditures (PCE) price index annual rate for March was reported at 2.8%. This figure exceeded the anticipated rate of 2.7%, matching the previous value of 2.8%. The PCE index is a measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The core PCE index excludes volatile food and energy prices to provide a clearer picture of underlying inflation trends. The data is closely watched by the Federal Reserve as it sets its inflation target based on the core PCE price index. The higher than expected rate indicates a potential increase in inflation, which could influence the Federal Reserve's future monetary policy decisions.

On April 19, 2024, Binance hosted its first-ever online Law Enforcement Training Day. The event aimed to deliver state-of-the-art cryptocurrency education to the global law enforcement community, spotlighting an increasing interest in these topics. The initiative underscores the need for stronger collaboration between the public and private sectors to combat crypto-associated crime. Practical Cryptocurrency Investigation Techniques Unveiled As part of Binance's comprehensive Law Enforcement Training Program, the Law Enforcement Training Day centered around the operational aspects of cryptocurrency investigations. It illuminated blockchain tracing techniques and delved into advanced concepts such as demixing or cross-chain swaps. Law enforcement speakers unveiled recent case studies—ranging from pig butchering scams and child abuse to terrorist financing. These practical examples revealed how combining traditional investigative methods with the ability to trace funds across major publicly traceable blockchains is becoming increasingly critical. Speakers from Diverse Sectors The speaker panel featured 11 experts from various sectors, including Binance, law enforcement portal Kodex, and blockchain data investigation firms Chainalysis, TRM Labs, Elliptic, and Clain. Representatives from the law enforcement community also provided insights, including individuals from the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police, the National Organised Crime Agency of the Police of the Czech Republic, and the Cyberpolice Department of the National Police of Ukraine. Large Attendance Demonstrates Increasing Interest With over 1,300 law enforcement representatives from 86 countries in attendance—primarily from national police agencies and state prosecutors—the event demonstrated burgeoning global interest in cryptocurrency education. Among the ten countries with the highest attendance, six were European. Commenting on the event's success, Jarek Jakubcek, Binance’s Head of Law Enforcement Training, stressed that public-private collaboration is not merely desirable but downright crucial in detecting and preventing cryptocurrency-related criminal activity. He expressed gratitude towards all participants for contributing to this knowledge-rich event.

According to PANews, Miles Jennings, the chief legal advisor of a16z Crypto, has proposed five fundamental principles in his article about token issuance strategy. These principles aim to assist blockchain projects in safely issuing tokens within the framework of U.S. securities law. The primary rule is to never publicly sell tokens for fundraising purposes in the United States due to the strict regulatory stance of the U.S. Securities and Exchange Commission (SEC). The second rule emphasizes decentralization as the core guiding principle for the project. The third rule points out that communication is key, and projects should strictly manage their communication strategies. The fourth rule advises projects to be extra cautious when considering listing on secondary markets and liquidity issues. The final rule suggests that all tokens should have a lock-in period of at least one year. Jennings stresses that these rules are not intended to evade U.S. securities law, but to ensure that the risks associated with holding tokens are significantly different from the risks of investing in securities.

Hedera's HBAR Token Price Skyrockets Following Misunderstood BlackRock Announcement A largely misunderstood announcement from the HBAR Foundation triggered a surge in HBAR token's price, spiking by 96% within 24 hours. The confusion resulted from a claim that a BlackRock money market fund had been tokenized on the Hedera blockchain. However, it appears that BlackRock, the world's largest asset manager, was not involved in the move on-chain, contrary to widespread belief. Source: Mason Versluis The HBAR Foundation posted on April 23, stating that blockchain trading and infrastructure firms Archax and Ownera had tokenized BlackRock's ICS US Treasury Fund on its network. Accompanied by a video, the post implied a partnership between Ownera, Archax, and BlackRock, stating it was "bringing the world's largest asset manager on-chain." Unfortunately, misinterpretations of the post ran rampant among influential crypto figures. Some believed that BlackRock was responsible for the fund's move onto the blockchain or that it had partnered with Archax and Ownera. The post gathered significant traction, garnering over 1.6 million views and 2,700 reposts in just 15 hours. HBAR’s price over the last three months. Source: CoinGecko Chris O'Connor, the founder of Cardano Ghost Fund DAO, clarified that BlackRock has "no involvement" with Hedera's development and lambasted the HBAR Foundation for its presentation of the announcement. HBAR's token price escalated to a two-year peak of $0.175 despite the confusion, a 96% rally over the previous day. Notably, even after the surge, HBAR's value remains down by over 69% from its September 2021 all-time high of $0.57. In related news, the Hedera Global Governing Council, which supervises the Hedera network, authorized allocating 4.86 billion HBAR (valued at $408 million then) for further network enhancement.

According to U.Today, Solana has successfully broken through the $150 resistance level, laying the groundwork for a potential rally continuation. This achievement is significant as the resistance level Solana surpassed was seen as a dividing line between a bullish and bearish market. However, despite this breakthrough, a noticeable decrease in trading volume has been observed. This could potentially suggest a lack of confidence in the move, raising doubts about the sustainability of the price above this level. If the volume does not increase, it could imply that the break above $150 may not be sustainable, possibly leading to a price correction. The 26-day and 50-day Exponential Moving Averages (EMAs) are overhead, representing significant resistance levels that Solana must overcome to maintain its upward momentum. If these levels are not surpassed with confidence and sufficient volume, they could trigger a bearish reversal. For a growth scenario to occur, Solana needs to establish a new support level above the recently breached $150 mark. If Solana manages to maintain its position above this line, the next challenge will be overcoming the EMAs. A convincing break above the 26-day EMA around $160 and the 50-day EMA could pave the way for higher price points, with $170 serving as the next psychological resistance. The future of Solana will depend on market sentiment following the halving, project developments, and the ability of buyers to drive and sustain higher prices. Meme coins could also potentially act as a strong catalyst for Solana. Solana's price action presents an intriguing yet uncertain situation. With key resistance levels ahead and the need for increased volume, Solana requires more buying support than it currently has, given the current state of the cryptocurrency market. However, the possibility of a reversal remains unclear.

According to PANews, the latest weekly report from CoinShares reveals that digital asset investment products experienced a net outflow of $206 million last week. This marks the second consecutive week of capital outflows. At the same time, the trading volume of Exchange Traded Products (ETPs) slightly declined, reaching $18 billion. Bitcoin ([BTC](https://www.binance.com/en/trade/BTC_USDT?type=spot)) saw a capital outflow of $192 million. However, few investors view this as an opportunity to short Bitcoin, with the capital outflow from shorting Bitcoin standing at $300,000. Due to ongoing concerns about the impact of halving on mining companies, blockchain stocks have seen a total outflow of $9 million over the past 11 weeks.

According to CryptoPotato, the cryptocurrency market has demonstrated signs of recovery over the weekend. However, the upcoming week's economic events in the United States could potentially reignite bearish momentum. The Federal Reserve's primary inflation metric, which may influence future monetary policy, will be closely watched. The Kobeissi Letter, a macroeconomics outlet, has outlined the key events for the week, including the release of March New Home Sales data, Durable Goods Orders data, US Q1 2024 GDP data, March Pending Home Sales data, and March PCE Inflation data. Additionally, approximately 20% of S&P 500 companies are expected to report their earnings this week. Tuesday will see the release of new home sales figures, which provide a broader view of the overall economy and confidence, although they are not directly related to the crypto markets. Preliminary readings for April's S&P Global Manufacturing PMI and S&P Global Services PMI will also be released on Tuesday. These reports provide insights into the business conditions in the manufacturing and services sectors, which together make up the majority of the nation's GDP. The Q1 GDP Growth Annualized preliminary estimate will be released on Thursday, offering an initial look at the health of the economy in the previous quarter. The Atlanta Fed anticipates a slight increase to 2.9% for the period. The Core Personal Consumption Expenditures (PCE) report, a primary measure of inflation for the central bank, is due on Friday. The Bureau of Economic Analysis (BEA) expects the March figure to remain at 2.8%, which is above the Fed's 2% target. The Michigan Consumer Sentiment Index and Consumer Inflation Expectations reports for March are also due on Friday. With inflation persistently high, Federal Reserve policymakers are at a crossroads, and any deviation from expectations could significantly impact market sentiment. The crypto market cap returned to and maintained the $2.5 trillion level over the weekend, led by Bitcoin following its fourth halving event. Bitcoin was trading above $66,000 at the time of writing, after dipping below $65,000 during the Monday morning Asian trading session. Ethereum recovered to reclaim $3,200 and was trading at $3,225 at the time of writing after a minor pullback. Altcoins were also predominantly in the green on Monday morning, with notable gains from LINK, NEAR, and DOT. More market volatility is expected if the PCE figures significantly deviate from expectations later this week.

According to Cointelegraph: Following the halving event, Bitcoin showed a robust recovery, possibly setting a bullish trend for other cryptocurrencies like BNB, and NEAR. Spot Bitcoin exchange-traded funds experienced an inflow of $30.4 million a day before the halving, ending a five-day outflow streak. Bitcoin (BTC) Price Analysis Crypto market data daily view. Source: Coin360 The GBTC saw maximum outflows, while BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract investments. Bitwise CEO, Hunter Horsley suggested that the clientele of Bitcoin ETFs will primarily be "long only" wealth management firms by the end of 2024, making them an “amazing new constituent in the Bitcoin space." BTC/USDT daily chart. Source: TradingView On the charts, Bitcoin (BTC) is currently oscillating around the 20-day exponential moving average (EMA) of $65,850. Should it drop significantly from the EMAs, it could signal a bearish trend leading to a retest of the $60,775 to $59,600 support zone. However, if it breaks above the EMAs, it could indicate an upward trend with possible resistance at $73,777. BNB Price Analysis Binance Coin (BNB) has been oscillating between $495 and $635 in recent days, suggesting a balance between supply and demand. The cryptocurrency rose above moving averages on April 20, signalling a reduction in selling pressure. The BNB/USDT pair is potentially heading towards the stiff resistance of $635, where a strong selloff is expected. Should the price experience a sharp decrease from $635, Binance Coin (BNB) could continue to operate in this range for a prolonged period. BNB/USDT daily chart. Source: TradingView A momentum shift, either upwards or downwards, is likely to occur if the price breaks beyond the $635 ceiling or below the $495 floor. If Binance Coin (BNB) surpasses $635, it may be on course to reach $692. Conversely, a decline below $495 could potentially pull the pair down to $460. BNB/USDT 4-hour chart. Source: TradingView On the 4-hour chart, the 20-day EMA is tilting upwards, and the RSI is currently in a positive zone, suggesting that the bulls are staging a comeback. If BNB can exceed the minor resistance at $585, a rise to $600 and subsequently to $635 is likely, where fierce defense by the bears is anticipated. NEAR Protocol (NEAR) Price Analysis Near Protocol saw a price decline within a descending channel pattern, evidencing the current dominance of the bears. Nevertheless, a short-term alleviation of selling pressure is reflected by NEAR's ascend above the 20-day EMA of $6.15. Currently, the NEAR/USDT pair is expected to attempt scaling towards the resistance line, where it may face vigorous selling. NEAR/USDT daily chart. Source: TradingView A sharp price drop from the resistance line will hint that the pair might stay within the channel. However, to convert bearish sentiment to bullish, buyers need to thrust the pair out of the channel, signifying a trend switch. This could see NEAR rally first to $8, then to $9. NEAR has succeeded in crossing the $5.90 level following a long battle, suggesting a minor advantage for bulls. It may retest this level, but if it flips in favor of the bulls into support, NEAR could reach the resistance line. NEAR/USDT 4-hour chart. Source: TradingView However, if the price witnesses a steep fall and penetrates the moving averages, the previous breakout above $5.90 might have been a bull trap. Under this circumstance, the price could drop to $5 before hitting the channel's support line.

According to CryptoPotato, Ethereum, a decentralized network, has generated a profit of $369 million in the first quarter of 2024. If this profit level continues, the blockchain could generate around $1.5 billion for the year. The revenue model of Ethereum is based on network fees, which are the gas users pay for making transactions. Gas costs spiked in early March but have now fallen back to yearly lows. A portion of the ETH is burned and removed from circulation for every transaction, which benefits existing ETH holders as issuance becomes deflationary during times of high demand. The issuance of new ETH to the network’s validators and stakers as an additional economic reward is considered as 'expenses'. The difference between the daily USD value of the burned ETH (revenue) and the newly issued ETH (expenses) represents the daily earnings for existing ETH holders. Crypto investor Ryan Sean Adams stated that Ethereum is unlike other blockchains, having generated almost $1 billion in earnings over the past 18 months. This places Ethereum among the top 20 entities globally in terms of buyback yield at 0.23%. On April 19, venture capitalist Tomasz Tunguz stated that Ethereum was the most profitable software company in Q1 2024, generating $370 million in profit on $825 million in revenue, equating to about a 45% net income margin. If Ethereum were to trade on the New York Stock Exchange or the NASDAQ, it would top the net income margin (%) charts, surpassing Microsoft, Adobe, and Veeva. Despite these impressive figures, ETH markets experienced a dip, with the asset dropping below $3,000 for the first time in two months. However, the trend started to change in the following hours, and ETH bounced off to about $3,100. The asset has now retreated almost 25% from its 2024 peak and remains down 38% from its 2021 all-time high.

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.

According to U.Today, Charlie Shrem, a Bitcoin pioneer and co-creator of the Bitcoin Foundation, recently shared his recollections of the first Bitcoin halving in 2012 on a social media platform. Shrem revealed that he and his colleagues were concerned about the success of the first halving, despite outwardly appearing confident. In November 2012, the reward for mining a new block was reduced from 50 BTC to 25 BTC. Shrem, along with Erik Voorhees and Roger Ver, were among the early Bitcoin adopters who were unsure if the halving would work as intended. This week, the global Bitcoin community is anticipating the fourth Bitcoin halving, which will decrease block rewards from 6.25 BTC to 3.125 BTC for miners. Each halving event enhances Bitcoin's deflationary feature, making it more scarce as the remaining amount of the 21 million supply is mined more slowly every four years. This allows for a smaller amount of new BTC to be introduced into the market. The last Bitcoin is expected to be mined in 2140. Meanwhile, Bitcoin's value has been on a downward trend for almost a week, since Friday, April 12. It has lost more than 10% of its value, despite two major attempts to recover. Bitcoin was trading close to $71,000 on that day, but at the time of writing, it is valued at $63,513. The recent drop in Bitcoin's value is believed to be due to negative geopolitical developments in the Middle East and comments from Fed Reserve chairman Jerome Powell about inflation being stronger than previously assessed. As a result, the likelihood of the Fed reducing interest rates has significantly decreased, which is unfavorable for risk assets, including Bitcoin.

Accoridng to Cointelegraph: Gold advocate Peter Schiff has expressed skepticism regarding the optimistic Bitcoin price targets set by market experts, who project it could reach $100,000 in the ongoing bull run. Schiff, a vocal critic of Bitcoin, raised doubts about the demand stimulated by spot Bitcoin exchange-traded funds (ETFs) in the current market. Source: Peter Schiff  Schiff took to X on April 16, pointing out the bearish performance of several Bitcoin-linked equity markets such as Coinbase, MicroStrategy, and Galaxy Digital amongst others. He questioned why the stocks of companies associated with Bitcoin do not reflect the supposedly high demand for the cryptocurrency. Despite failing to clarify a timeline for these losses, he revealed that Coinbase is down by 21%, Galaxy Digital by 26%, MicroStrategy by 33%, and several Bitcoin mining stocks by double digits. Source: Cryptofucius However, these comments have elicited responses from Bitcoin advocates who accuse Schiff of selective use of data. These critics underline that despite the recent downturn, Bitcoin and crypto-linked stocks have significantly outperformed traditional market stocks since the beginning of 2024. Critics also pointed to the fact that historical patterns show Bitcoin has a tendency to dip pre-halving but gains momentum post-halving. The Bitcoin halving event will occur later this week. This highlights an ongoing debate in the crypto world, pitting advocates of traditional stores of value against proponents of digital, decentralized assets like Bitcoin.

According to BlockBeats, Matrixport, in its latest report released on April 16, suggests that some believe the market may be on the verge of an altcoin surge. Despite significant gains seen in a few meme coins and altcoins, the bull market may still be in its early stages based on Bitcoin's market share. This indicates that the surge in other cryptocurrencies is relatively limited, and Bitcoin's market share continues to grow.

According to U.Today, Michael Saylor, the founder and former CEO of MicroStrategy, who now leads the company's Bitcoin investment strategy, recently shared a post dedicated to Bitcoin on his Twitter account. The post, which included a cryptic image of an android with a Bitcoin symbol on its eye, drew various reactions from the Bitcoin community. Some expressed support and admiration for Bitcoin and its anonymous creator, Satoshi Nakamoto, while others criticized the high transaction fees associated with Bitcoin. Saylor did not respond to any of the comments. In another tweet, Saylor highlighted how MicroStrategy's Bitcoin strategy has led to significant profits for the company. Since August 2020, when MicroStrategy began regularly purchasing large amounts of Bitcoin, the company's stocks have surged by 1,097%. In comparison, Bitcoin itself has seen a smaller but still notable increase of 463%. Meanwhile, gold has only increased by 16%, silver has decreased by 1%, the S&P 500 index has gained 52%, Nasdaq has risen by 47%, and bonds have fallen by 21%. The Bitcoin community is currently anticipating the upcoming Bitcoin halving event, which will reduce miners' rewards by half, leaving them with 3.125 Bitcoin for each new block. This event, which is expected to occur in four days, is predicted to cause the price of Bitcoin to surge due to the increased scarcity of the cryptocurrency. Currently, 900 Bitcoin are added to the circulating supply each day, but after the halving event, this number will be reduced to 450.

According to CryptoPotato, Bitcoin's price experienced a significant drop of $10,000, potentially due to the prospect of US rate hikes and geopolitical tensions. However, the cryptocurrency is showing signs of recovery, with an expected boost from the upcoming halving event. Meanwhile, Shiba Inu's Shibarium network has seen a substantial increase in daily transactions, indicating increased activity and potential for future growth. Despite a recent price drop, analysts remain optimistic about XRP, viewing the current situation as a buying opportunity with expectations for an upward trend. Bitcoin was valued at over $72K last week, but over the weekend, it fell below the $63K mark. This severe correction may have been triggered by external events impacting traditional finance. For instance, the US Federal Reserve hinted at a potential rate hike due to persistent inflation in the world's largest economy. Additionally, geopolitical tensions increased following Iran's launch of over 300 drones and missiles at Israel. Bitcoin's price was negatively affected by geopolitical concerns earlier in 2022 when Russia invaded Ukraine. However, the asset recovered all losses within days, raising hopes for a similar recovery soon. As of April 15, Bitcoin has risen by 3% and crossed the $66,000 level. The upcoming halving event, which occurs approximately every four years and halves the rewards distributed to miners for validating blocks on the Bitcoin blockchain, could potentially lead to a more significant uptick. Shiba Inu's valuation has also significantly dropped in recent days, but metrics related to its ecosystem have increased. Daily transactions on the layer-2 blockchain solution, Shibarium, surpassed 200,000 at the end of last week, a 4,000% spike compared to the previous day. The figure stands at over 400,000 as of April 15, indicating increased activity on the network. Shibarium's progress is seen as a crucial factor that could trigger a bull run for the second-largest meme coin. Ripple's native token, XRP, dipped by around 13% on a weekly scale, briefly falling below the $0.50 mark. However, many analysts remain unfazed, with some viewing this as an ideal buy-the-dip opportunity. Some predict that XRP has reached a 'bouncing point' and forecast that it will appreciate against Bitcoin very soon. Others assume that XRP could soon climb to an all-time high of $4.