Bitcoin’s potential surge to $75,000 could signal a bullish trend confirmation.

On-chain data indicates a cooling market sentiment despite profitable Bitcoin supply.

Historical MVRV Ratio trends suggest a promising buying opportunity for Bitcoin investors.

Bitcoin’s recent surge to $66,000 has ignited speculation among investors about the cryptocurrency’s bottom. With potential gains of up to 67% indicated by the MVRV ratio, eyes are on key price levels. As highlighted by Nebraskangooner, an analyst, a move to $75,000 could signal the bottom is in, but a drop below $58,000 might suggest otherwise.

#Bitcoin update:If it manages to pump to $75,000 from here then the bottom is in.If it drops below $58,000 then the bottom is not in. Make sure to follow me and turn notifications on so you don't miss any important updates like this one.

— Nebraskangooner (@Nebraskangooner) April 21, 2024

In parallel, on-chain data shows that 88.8% of Bitcoin supply is profitable, which has eased from earlier highs this year. This trend mirrors conditions observed on February 7, 2024, when Bitcoin traded at $44,000, hinting at a possible cooling in market sentiment, possibly leading to a consolidation phase.

The % of the Bitcoin Supply in Profit is now at 88.8%This is still elevated but has cooled down since the highs of earlier this yearThe last time at this level was February 7th, 2024, when the price was $44KLet's see if BTC has legs here or if it needs a further cool down pic.twitter.com/ZOBSU9RdDj

— On-Chain College (@OnChainCollege) April 21, 2024

Crypto analyst Ali Martinez highlights an attractive buying opportunity indicated by Bitcoin’s MVRV Ratio. Historical data suggests significant gains for investors when this ratio dips below its 90-day average. Martinez’s analysis points to an average return of 67% during such periods, making this juncture potentially appealing for BTC investments.

Shifting dynamics, notably Bitcoin’s evolving correlation with the Global Liquidity Index, further complicate the market landscape. Martinez emphasizes the need for a liquidity boost before the upcoming US elections to sustain Bitcoin’s upward trajectory, stressing factors beyond technical price indicators.

Every time the #Bitcoin MVRV Ratio falls below its 90-day average since November 2022, it signals a prime #BTC buying opportunity with an average gain of 67%! This opportunity is upon us again, indicating it might be the perfect time to buy $BTC . pic.twitter.com/nPMjF2GTpr

— Ali (@ali_charts) April 21, 2024

Despite positive signals, caution is warranted due to the spike in transaction fees paid to Bitcoin miners, partly attributed to the Runes protocol. Moreover, there’s been a notable decline in creating new BTC addresses. These developments underscore the intricate relationship between network utilization and market sentiment.

Currently trading at $66,492.12, analysts and investors closely monitor Bitcoin’s price action and on-chain metrics. Forming a bullish flag pattern on the daily chart adds further intrigue, potentially setting the stage for an upward breakout towards new all-time highs in May, as forecasted by some.

The post Bitcoin’s MVRV Ratio Dips Below Average: An Opportunity for 67% Gains? appeared first on Coin Edition.

Shiba Inu team secures $12 million via TREAT token sale to non-U.S. investors like Polygon Ventures.

The lead developer, Kusama, clarifies the investor base amid queries about U.S. involvement.

TREAT is a utility and governance token for Shiba Inu’s Layer 3 blockchain.

The team behind the Shiba Inu memecoin has secured $12 million by selling its unreleased token, TREAT, to non-U.S. venture capital investors. The fundraising campaign, which started several months ago, witnessed participation from investors such as Polygon Ventures, Mechanism Capital, Big Brain Holdings, Woodstock Fund, and DWF Ventures,

Questions arose regarding the involvement of U.S.-based investors such as Mechanism Capital and Shima Capital. However, Shytoshi Kusama, the lead developer, clarified that despite appearances, none of the investors are based in the U.S., although full entity names remain undisclosed.

Kusama refrained from providing specific details regarding the valuation but indicated that the fundraising was conducted in tranches. According to a source familiar with the matter, these tranches occurred at valuations of $75 million, $100 million, and $200 million, respectively.

TREAT is the “utility and governance token” for Shiba Inu’s forthcoming privacy-centric Layer 3 blockchain. Kusama emphasized that TREAT will be the final non-stable token within the Shiba Inu ecosystem, revealing plans to unveil a new token named Shi later this year. 

Although TREAT is currently unreleased, platforms like CoinGecko and CoinMarketCap have displayed trading volume for specific TREAT tokens. Nonetheless, Kusama labeled this event a “scam,” affirming that the Shiba Inu Mint S.A., a Panama-based corporation, would mint the authentic TREAT token.

Furthermore, Shiba Inu is developing a new Layer 3 blockchain, leveraging fully homomorphic encryption (FHE) technology from Zama, a cryptography company. FHE stands out as a significant advancement in cryptography, enabling end-to-end data encryption, even during processing.

Shiba Inu’s adoption of FHE technology aims to tackle various challenges within the crypto space. This includes issues regarding privacy and trust for its extensive community and the next generation of crypto-curious individuals.

To curb fraudulent activities, Kusma has chosen not to disclose the name of the Layer 3 blockchain at this stage. The new blockchain’s development timeline includes releasing a testnet in the third quarter of the year. In succession, a mainnet launch will kickstart after thorough testing procedures have been completed, Kusama revealed.

The post Shiba Inu Raises $12M Through Treat Token Sale appeared first on Coin Edition.

Kenya has detained Nadeem Anjarwalla, the Binance executive who escaped custody in Nigeria.

Anjarwalla escaped from a Nigerian guest house during the Ramadan period.

Collaboration between EFCC, INTERPOL, and Kenya is in motion to extradite Anjarwalla to Nigeria this week.

The police authorities in Kenya have apprehended Nadeem Anjarwalla, the Binance executive who recently escaped from custody in Nigeria. This comes as efforts by the International Criminal Police Organisation (INTERPOL) to extradite him to the Nigerian government.

Local media PUNCH disclosed this latest development citing government insiders. The inside sources who confirmed Anjarwalla’s arrest revealed that INTERPOL will extradite the fleeing Binance executive to Nigeria this week.

Nadeem Anjarwalla was one of two Binance executives detained in Nigeria on charges of tax evasion and other offenses. However, late last month, Anjarwalla escaped from lawful custody at the Abuja guest house where he and his colleague were being held. 

Allegedly, guards on duty escorted him to a nearby mosque for prayers as part of the Ramadan fast, which ultimately provided him with an opportunity to abscond. Notably, Anjarwalla is a British national and also holds Kenyan citizenship. Six days ago, the Nigerian Federal Government successfully traced him to Kenya, leading to his arrest on Sunday.

Now, the Economic and Financial Crimes Commission (EFCC), alongside INTERPOL and the Kenyan Police Service, has intensified discussions to accelerate Anjarwalla’s extradition.

However, challenges may arise in the extradition process. After Anjarwalla’s arrest in Kenya, local authorities must seek court approval, a process that could extend for months, according to a statement from a detective familiar with the case.

The detective highlighted the limitations of international collaboration, noting that while police agencies share information through INTERPOL, executing an Interpol red notice or a foreign arrest warrant involves distinct legal procedures.

In related proceedings, a Federal High Court in Abuja postponed the tax evasion case involving Binance, Tigran Gambaryan, and Nadeem Anjarwalla earlier this month.

The post Arrested Binance Official Set for Extradition to Nigeria This Week appeared first on Coin Edition.

Thai SEC cracks down on unauthorized crypto platforms, urging quick withdrawal to boost law enforcement against online crime.

Global crypto regulatory trend as Thailand joins India and the Philippines in restricting unlicensed platforms.

Thai authorities unite to limit access to unapproved platforms, safeguarding investors and financial stability.

The Securities and Exchange Commission (SEC) announced Thailand’s decision to block unauthorized cryptocurrency platforms, indicating a notable change in its regulatory approach to digital assets.

The goal is to strengthen law enforcement efforts against online criminal activities, although the specific platforms considered unauthorized have not been disclosed publicly. Users are encouraged to promptly withdraw their assets in response to this news.

Additionally, the Thai SEC’s ruling is in line with measures taken by nations such as India and the Philippines, where unlicensed cryptocurrency platforms have encountered limitations. This decision highlights an increasing worldwide inclination towards regulatory examination within the cryptocurrency space, prompted by worries regarding safeguarding investors and ensuring financial stability.

The SEC’s directive follows a meeting of the Technology Crime Prevention and Suppression Committee, highlighting a coordinated effort to address emerging challenges in the digital asset landscape. By collaborating with the Ministry of Digital Economy and Society, Thai regulators aim to curtail access to unauthorized platforms effectively.

As a result, individuals are encouraged to promptly manage their accounts before potential restrictions are imposed on access to these platforms. This proactive stance reflects a commitment to safeguarding investors while also fostering an environment conducive to legitimate cryptocurrency activities.

Nevertheless, Thailand’s regulatory strategy has been subtle, aiming to find a middle ground between promoting innovation and managing the risks linked with digital assets. Although institutional investors and individuals with substantial wealth have been provided with opportunities to engage in crypto ETFs, there are restrictions imposed on retail investors, highlighting the importance of adopting cautious investment approaches.

Furthermore, authorities have stressed the significance of custodial responsibility, mandating backup strategies to address potential disturbances in case of unfavorable situations. This emphasis on risk mitigation highlights the dedication to fostering a robust and secure crypto environment.

The post Thailand Regulators Crack Down on Rogue Crypto Exchanges appeared first on Coin Edition.

Community pundit Jack argued XRP’s potential to attain $100 and $10,000 after the SEC lawsuit ends.

Previously, he asserted that $1,000 per XRP is “peanuts” considering the tokenization market.

Ripple is challenging the SEC’s proposal for nearly $2 billion in fines today.

Members of the XRP community continue to speculate about XRP’s outlook upon the conclusion of the multi-year legal battle involving Ripple and the SEC. Community member Jack, with 212.6K followers on X, recently weighed in on this discussion. 

Jack emphasized that the Ripple-SEC lawsuit’s conclusion means XRP has complete regulatory clarity to function as the first cross-border payment asset in the US. Accordingly, he argued that a three to five-digit value for XRP upon the termination of a protracted legal battle with the US regulator “is inevitable.” 

The SEC v. RIPPLE case will come to an End and #XRP will become the first digital asset with FULL regulatory clarity in the United States of America for cross-border settlements!3-5 digits per XRP is inevitable. pic.twitter.com/BmSf6jxTg6

— JackTheRippler ©️ (@RippleXrpie) April 22, 2024

Notably, the outlook suggests the community pundit expects XRP to be between $100 and $10,000 sometime in the future. Jack’s latest commentary on XRP’s potential value expanded upon his earlier assertive claim that XRP trading at $1,000 would be “peanuts.” At the time, he grounded the forecast on XRP Ledger’s utility in the tokenization market.

Jack speculated a scenario wherein $50 trillion in tokenized value passes through XRPL. As a result, he concluded that $1,000 per XRP is a trivial target in light of the immense potential within tokenization. 

Now, this XRP enthusiast has issued an even bolder outlook for XRP when Ripple’s regulatory hurdle concludes. One of the most recent updates in the SEC vs Ripple case involves Ripple’s Chief Legal Officer Stuart Alderoty announcing plans to file an opposition to the SEC’s request for nearly $2 billion in penalties from the company. This opposition filing will occur today, April 22.

Last month, the SEC proposed a judgment requiring Ripple to pay $1,950,768,364 in fines and penalties for its alleged violation of federal securities laws. Should the court adopt this proposed judgment, Ripple must settle the $1.95 billion amount within 30 days of the ruling.

However, Ripple’s team is not receptive to this proposal and plans to challenge it today with a counter-filing.

The post Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends appeared first on Coin Edition.

Lark Davis discusses altcoins, highlighting both high-risk/reward options and established DeFi projects.

Davis advised against Bitcoin SV (BSV), questioning Craig Wright’s claim to be Satoshi Nakamoto.

While acknowledging their potential, he reiterated the inherent volatility of most altcoins and DeFi ventures.

Popular crypto streamer Lark Davis hosted a live stream today, offering insights into altcoins and Decentralized Finance (DeFi) projects. CryptoLark also discussed some of his current holdings while highlighting the inherent volatility of these holdings.

Davis stressed the importance of viewer autonomy, urging everyone to conduct their own research before investing in any cryptocurrency. He specifically advised against Bitcoin SV (BSV), questioning Craig Wright’s claim to be Satoshi Nakamoto. Bitcoin Cash (BCH), with its slight variations from Bitcoin, was proposed as a potential candidate for the next ETF approval in the US.

Shifting to altcoins, Davis highlighted several DeFi projects and meme coins he currently holds. These included Puff, Benji, and Foxy, all categorized as high-risk, high-reward ventures. Established DeFi projects like Jup (known for its governance and staking rewards) and Arrow (offering locked governance rewards and high USDC-Arrow pool yields) were also mentioned favorably.

Davis further discussed intriguing projects with high growth potential, including Solana, Trader Joe, and Mantle. While acknowledging their potential, he reiterated the inherent volatility of most altcoins and DeFi ventures. He strongly advised viewers to invest cautiously, prioritize portfolio diversification, and consider established projects alongside promising new ones.

The live stream concluded with Davis revealing his holdings in Jup and Arrow while expressing his belief that Solana and Base are poised to be major trends in the upcoming market cycle.

In Q1 2024, the market cap of leading Solana meme coins increased by $8.32 billion, resulting in a growth of 801.5%. By the end of Q1, the market cap reached $9.36 billion. According to Whale Insider, WIF and BOME still have the potential to rally up to 10,000% during the bull market.

The post Lark Davis Talks Altcoins and DeFi: Top Picks and Investment Cautions appeared first on Coin Edition.

Bitcoin transaction fees surged to 1,258 BTC, while new addresses declined to 260,838.

Runes protocol offset post-halving miner yield reduction, causing network congestion and high fees.

Despite recent dips, average Bitcoin transaction fees remain at 34.86.

Per insights from Glassnode, there has been a significant surge in fees paid to Bitcoin miners, reaching 1,258 BTC. This increase in transaction fees coincides with a decline in the creation of new Bitcoin addresses, which dropped to 260,838.

The recent Bitcoin Halving event was expected to slash block rewards by 50%, reducing miners’ yields. Instead, the introduction of Casey Rodarmor’s Runes protocol has offset this expectation. 

This new protocol, designed for minting digital tokens on the Bitcoin blockchain, has quickly gathered popularity, leading to unprecedented network congestion and soaring transaction fees.

Although the total Bitcoin transaction fees hit 1,258 BTC, a slight decrease has occurred from the recent peak observed. Data from Mempool reveals that the average transaction fee currently stands at 34.86, a decline from the 128.45 high on April 20. While this drop represents a 72.86 % dip from Saturday, it mirrors an impressive 2.65K% rise from a year ago.

During periods of network congestion, such as the 2017 crypto boom, average Bitcoin transaction fees tend to spike, nearly reaching 60 USD. However, the decrease in new Bitcoin addresses may be attributed to the deterrent effect of high transaction fees on potential new users joining the network.

Following the much-anticipated halving event, Bitcoin showed market little response but has since gained traction. Per data from CoinMarketCap, Bitcoin trades at $66,178, printing a 1.76% rally over the last intraday trading session. 

Even though market experts like JPMorgan have cautioned investors regarding a potential post-halving price decline, Bitcoin’s prevailing outlook remains bullish for the long term.

Bitwise, a leading asset management firm, has noted historical trends regarding Bitcoin’s price trajectory. Based on past cycles, Bitcoin experiences a brief drop in value immediately after halving, followed by significant gains in the subsequent year. 

For instance, after the 2012 halving, Bitcoin saw a modest 9% increase in the month following the event but surged by an impressive 8,839% over the following year. Identical patterns were observed after the 2016 and 2020 halvings, reinforcing this trend.

Moreover, Kris Marszalek, CEO of Crypto.com, has voiced similar sentiments regarding Bitcoin’s price. He asserted that while Bitcoin might face selling pressure before halving events, the overall outlook remains optimistic in the long term.

The post Bitcoin Miner Fees Spike as New Address Creation Declines appeared first on Coin Edition.

Bitcoin’s average transaction fee has plummeted to $34.8 following last day’s record high of $128.45.

The transaction fee surge is likely due to the community’s rush to create Rune-based meme coins.

Bitcoin critic Peter Schiff slammed Bitcoin as a failure when its transaction fee reached historical highs.

Bitcoin’s average transaction fee plummeted to $34.8 on April 21, following last day’s record high of $128.45. YCharts data indicated a historical high of Bitcoin transaction fees on the day of the much-hyped Bitcoin Halving from a previous high of $24.51 on April 12.

Source: YCharts

The average transaction fee refers to the average fee for processing a miner’s Bitcoin transaction. Notably, the surge in Bitcoin transaction fees coincides with the launch of Casey Rodarmor’s Runes protocol, a BRC-20-like token. The transaction fee seems to have increased as a result of the community’s rush to create new rune-based meme coins.

Following the hike in Bitcoin transaction fees, Bitcoin critic Peter Schiff chastised the cryptocurrency, discrediting it as a digital asset. His major concerns were centered around the high transaction fees and the longer duration of the process.

The cost to complete a #Bitcoin transaction is now $128 and it takes a half hour to process. This is another reason why Bitcoin can't function as a digital currency. The cost to actually use Bitcoin as a currency is prohibitively high for almost all transactions. It's a failure.

— Peter Schiff (@PeterSchiff) April 22, 2024

Further, Schiff addressed Bitcoin as an utter “failure” as a digital asset. His post read,

“The cost to complete a Bitcoin transaction is now $128 and it takes a half hour to process. This is another reason why Bitcoin can’t function as a digital currency. The cost to actually use Bitcoin as a currency is prohibitively high for almost all transactions. It’s a failure.”

Meanwhile, Bitcoin is moving somewhat stable above the $66k level despite the recent lows. Following the Bitcoin halving, BTC is fluctuating between $63k and $66k levels. As of press time, Bitcoin is trading at $66,283. Despite a slight increase of 1.73% in one day, Bitcoin has been experiencing a bearish trend over the month, with marginal dips of 0.11% and 0.33% in the past week and past month, respectively.

The post Bitcoin’s Average Transaction Fee Dips to $34.8 After Hitting $128.45 appeared first on Coin Edition.

The Base network has seen a major surge in contract deployers, setting record highs.

On April 20, the number of contract deployers reached a staggering 21,700. 

The active users on the Base network have surged by 63% in the last month, reaching 3.8 million.

The Base network has recently set a record high of contract deployers. Chinese crypto reporter Colin Wu shared an X post on his Wu Blockchain page, shedding light on Base’s 21,700 contract deployers marked on April 20, with a fee of $164.618K.

According to Token Terminal, the number of contract deployers on the Base network in a single day recently reached 21,700, setting a record high. Contract deployers refer to the number of EOAs for transactions that initiate smart contract creation. Previously, Base protocol head…

— Wu Blockchain (@WuBlockchain) April 22, 2024

In a recent X post, Token Terminal reflected on Base protocol head Jesse Pollak’s previous public statement hinting at Base’s vision of 1 million developers. While Token Terminal reiterated Pollak’s words that echoed “one million developers,” “one billion users,” and “onchain,” Pollak reposted the thread. Token Terminal further posited that just after 10 months of launch, the Base network boasts 22,000 developers launching apps daily.

BUILDERS, BUILDERS, BUILDERS@jessepollak's publicly stated goal for @base is to bring:1. one million developers, and2. one billion users3. onchainWhere is Base today?~10 months from launch, ~22K developers* launch apps on Base each day. pic.twitter.com/MlJaLIkvmL

— Token Terminal (@tokenterminal) April 21, 2024

The term ‘contract deployers’ is used to refer to “the number of EOAs for transactions that initiate smart contract creation.” Token Terminal’s contract deployers’ chart shows a substantial hike in the number over the past week, especially on April 20, which marked a historical high.

Source: Token Terminal

Previously, during the launch of the Ethereum Layer 2 network, Base, the protocol head Jesse Pollak publicly declared that Base’s ultimate aim is to attract 1 billion users into the economy. His words read,

Our goal with Base is to make onchain the next online and onboard one billion users into the cryptoeconomy. In pursuit of this goal, Base will serve as both a home for Coinbase’s onchain products and an open ecosystem where anyone can build.

According to Token Terminal, the active daily users of the network also exhibit a positive pattern. The daily active users have surged by more than 45%, reaching 352.70K, while the monthly active users have reached 3.8 million with a 63.1% hike.

The post Base Network Sets Record High in Contract Deployers, Reaches 21.7K appeared first on Coin Edition.

The Base network has seen a major surge in contract deployers, setting record highs.

On April 20, the number of contract deployers reached a staggering 21,700. 

The active users on the Base network have surged by 63% in the last month, reaching 3.8 million. 

The Base network has recently set a record high of contract deployers. Chinese crypto reporter Colin Wu shared an X post on his Wu Blockchain page, shedding light on Base’s 21,700 contract deployers marked on April 20, with a fee of $164.618K.

According to Token Terminal, the number of contract deployers on the Base network in a single day recently reached 21,700, setting a record high. Contract deployers refer to the number of EOAs for transactions that initiate smart contract creation. Previously, Base protocol head…

— Wu Blockchain (@WuBlockchain) April 22, 2024

In a recent X post, Token Terminal reflected on Base protocol head Jesse Pollak’s previous public statement hinting at Base’s vision of 1 million developers. While Token Terminal reiterated Pollak’s words that echoed “one million developers,” “one billion users,” and “onchain,” Pollak reposted the thread. Token Terminal further posited that just after 10 months of launch, the Base network boasts 22,000 developers launching apps daily.

BUILDERS, BUILDERS, BUILDERS@jessepollak's publicly stated goal for @base is to bring:1. one million developers, and2. one billion users3. onchainWhere is Base today?~10 months from launch, ~22K developers* launch apps on Base each day. pic.twitter.com/MlJaLIkvmL

— Token Terminal (@tokenterminal) April 21, 2024

The term ‘contract deployers’ is used to refer to “the number of EOAs for transactions that initiate smart contract creation.” Token Terminal’s contract deployers’ chart shows a substantial hike in the number over the past week, especially on April 20, which marked a historical high.

Source: Token Terminal

Previously, during the launch of the Ethereum Layer 2 network, Base, the protocol head Jesse Pollak publicly declared that Base’s ultimate aim is to attract 1 billion users into the economy. His words read,

“Our goal with Base is to make onchain the next online and onboard one billion users into the cryptoeconomy. In pursuit of this goal, Base will serve as both a home for Coinbase’s onchain products and an open ecosystem where anyone can build.”

According to Token Terminal, the active daily users of the network also exhibit a positive pattern. The daily active users have surged by more than 45%, reaching 352.70K, while the monthly active users have reached 3.8 million with a 63.1% hike.

The post Base Network Sets Record High in Contract Deployers, Reaches 21.7K appeared first on Coin Edition.

FTX is set to sell another batch of its SOL holdings via an auction. 

The sale will not happen at a set price like the previous ones.

The firm recently sold $1.9 billion and $2.6 billion worth of SOL tokens.

Bankrupt digital asset trading platform, FTX, is set to offload its locked Solana (SOL) bag via an auction, confirmed by Mike Cagney, the co-founder and CEO of Figure Markets, a decentralized platform built for traders and investors. 

The crypto space has set its eyes on the next sale of the locked SOL tokens, and Cagney confirmed that the sale will not happen at a fixed price for the entire holding but will take place via an auction. 

Further, Cagney’s Figure Markets intends to create a Special Purpose Vehicle (SPV) to compete in upcoming SOL auctions from the FTX estate. The SPV will be available to any non-US investor (subject to KYC) and to accredited US investors.

The FTX estate recently carried out the sale of $1.9 billion worth of SOL tokens, which were bought by leading crypto-focused firms such as Mike Novogratz’s Galaxy Digital and Pantera Capital. 

The stash of locked Solana tokens, which formed the bulk of FTX’s digital assets before its collapse, has stirred keen interest among buyers ready to gamble on a discounted purchase. These tokens can’t be sold by the buyers until a future date.The recent sale of roughly two-thirds of FTX’s holdings raked in $2.6 billion at a rate of approximately $60 per token. With Solana’s current value sitting at around $150, the decision to buy seems promising. However, the volatile nature of cryptocurrency means the price could shift dramatically before the tokens are unlocked for sale.

The post FTX Estate to Proceed With the Sale of Locked Solana Tokens via Auction appeared first on Coin Edition.

The floor price of the Runestone NFT collection dropped 55% to 0.033 BTC.

On April 11, the floor price hit an all-time high of 0.095114 BTC.

The holders of the NFTs are eligible for three airdrops, one of which is complete.

The floor price of Runestone non-fungible token (NFT) collection dropped significantly over the past 24 hours following the snapshot taken at Bitcoin block 840,269 for the airdrop of a meme coin to Runestone holders. 

According to the data from CoinGecko, the floor price of the NFT collection dipped almost 55% in 24 hours, currently amounting to 0.033 BTC (around $2,168). Additionally, the 24-hour trading volume of the collection also dipped by 55% to 2.63 BTC.

The all-time high floor price for Runestone was witnessed on April 11 when the Bitcoin-based NFT collection hit the price tag of 0.095114 BTC (approximately $6,250). CoinGecko also confirmed that as of April 22, there are a total of 112,400 Runestone NFTs minted, held by 75,540 unique owners, and the collection has a total market cap of $244,562,012.

The creator of Runestone, Leonidas, on social media platform X, addressed the concerns of the digital asset community surrounding the crash of the floor price of the NFTs post snapshot, stating:

”Inevitably some low IQ folks will complain that the floor of Runestone drops after this snapshot. This is obviously an irrational take. You should think of the value of a Runestone as the total value you received from it after the moment you were airdropped it or bought it.”

Leonidas stated that holders must consider the fact that, in total, the holders of the Runestone NFTs will be eligible for three airdrops, one of which is complete. The creator noted that one should “look back at the total value of DOG and all other airdrops to Runestone holders when calculating the total value of the original Runestone airdrop.”

The post Runestone NFT Floor Price Crashes to 0.03 BTC After Meme Coin Airdrop appeared first on Coin Edition.

Grayscale is doubling down in its pursuit of a Grayscale Bitcoin Mini Trust ETF.

According to its filing, the firm set the Mini ETF management fees at 0.15%.

Nate Geraci thinks Grayscale could consider further reducing the fees to 0.10%.

Grayscale is doubling down in its pursuit of a Grayscale Bitcoin Mini Trust ETF. In a recent filing, the renowned investment firm revealed its intention to set the management fee for the proposed product at 0.15%. That would make it the lowest management fee in the ETF market and provide more opportunities for investors.

Following the filing, Nate Geraci, the president of The ETF Store, termed Grayscale’s move a positive. According to Geraci, the investment firm could reduce the fees to 0.10%. Posting on X, the ETF Chief noted that Grayscale can subsidize w/GBTC revenue and pressure competitors. 

If mini-GBTC launches at 15bps, it would be lowest cost spot btc ETF…Think correct move by Grayscale & should even consider pricing at 10bps.They can subsidize w/ GBTC revenue & pressure competitors.Remember, idea is GBTC = trading vehicle, while BTC = buy & hold vehicle. pic.twitter.com/RMXbwK1f0Y

— Nate Geraci (@NateGeraci) April 20, 2024

According to reports, the recent Grayscale filing with the U.S. Securities and Exchange Commission (SEC) will provide investors with a lower cost structure than the existing Grayscale Bitcoin Trust (GBTC). That would address one of the pain points voiced by GBTC investors who think the product’s current fees are high compared with the recently launched ETFs.

As a subject for comparison, investors consider GBTC’s current fee of 1.5% too high when other competitors, like Bitwise Bitcoin ETF and the Franklin Templeton Digital Holdings Trust, charge as low as 0.2% and 0.19%, respectively. Hence, a 0.15% fee would make the Grayscale Bitcoin Mini Trust ETF the most affordable product among the lot.

It is essential to note that Grayscale is taking this crucial step at a time when the ETF industry is undergoing rapid expansion with an influx of new players. Users believe the move is deliberate and aimed at drawing in investors, especially with the growing competition from the newly launched ETFs.

With the latest strategy, Grayscale aims to keep its GBTC fund competitive without significantly changing its schedule.

The post Grayscale’s Latest Filing Will Introduce a Mini ETF With 0.15% Fees appeared first on Coin Edition.

XRP soars to $0.534, reflecting a 22.86% growth from the pre-halving bottom of $0.4351.

An analyst expects XRP to surge 845% to $5 by September 2025.

Ripple’s CLO Stuart Alderoty crushes rumor of potential settlement in the SEC lawsuit.

In the last 24 hours, XRP has been one of the gainers among the most prominent cryptocurrencies. At press time, XRP registered an intraday high of $0.5346, a substantial 13.84% gain from the 24-hour low of $0.4696.

Furthermore, XRP’s new value reflects a more substantial growth of 22.86% from the bottom of $0.4351 witnessed on April 13. This new commendable trajectory follows the emerging optimism in the market after the Bitcoin network has undergone the much-awaited halving. 

Before the Bitcoin halving, multiple online pundits projected various values XRP may attain in the altcoin season expected to follow. For instance, an analyst on X using the pseudonym Ash Crypto proclaimed that XRP would rally by 460% to $3 by next year. Moreover, this analyst set a higher target of an 845% surge to take XRP to $5 by September 2025.

Meanwhile, other commentators, like Mikybull, suggested a $3 price point would be a near-term gain for XRP rather than next year. Notably, many of these analysts base their conclusions on established patterns observed on XRP’s chart. 

On the other hand, some pundits forecasted potential values for XRP based on non-technical factors such as developments in the SEC vs. Ripple lawsuit.

Recently, Ripple’s CLO Stuart Alderoty addressed the growing rumors surrounding a pre-trial conference in the SEC lawsuit. Many members of the XRP community speculated the development could lead to a settlement, potentially impacting the XRP price.

Alderoty clarified that a final pretrial conference would not be held anymore as the SEC had already dropped its charges against Ripple CEO Brad Garlinghouse and Chainman Chris Larsen.

In the meantime, Ripple is set to submit its response to the SEC’s remedies-related brief on April 22, 2024, which sought nearly $2 billion in penalties. However, this motion will be submitted under seal, with a redacted version anticipated to be filed by April 24, 2024.

The post XRP Advances by 22.86% Amid Bull Comeback Post-Halving appeared first on Coin Edition.

Clark Moody shares insights on the 9 top most valuable blocks that were mined following the Bitcoin Halving.

The most valuable block was mined last November as a result of an accident $3 million overpayment.

Miners of the first block after halving are known as epic sats and are 100x times rarer than the rarer sats.

A prominent X user, Clark Moody, recently shared insights on Bitcoin’s top most valuable blocks, which were mined following the much-awaited Bitcoin Halving event. While nine of the 10 most valuable blocks in Bitcoin history were mined after the halving event, one was the result of an accident $3 million overpayment last November.

Nine of the top 10 most valuable blocks have been mined today pic.twitter.com/0W5zbLOHx0

— Clark Moody (@clarkmoody) April 20, 2024

The Bitcoin halving was successfully completed late on April 19, 2024, significantly impacting the whole crypto market. Chinese crypto journalist Colin Wu’s X post revealed that the Runes minting has resulted in the average revenue per block on the network reaching 21.74 BTC. Also, the transaction fee reward per block rose as high as 18.62 BTC.

Reportedly, the first halving block captured a total fee and block rewards of $2.6 million.  Meanwhile, other blocks were worth $1.3 million to $2 million.

However, the $3 million accident overpayment still remains the most valuable block. In November 2023, a BTC user accidentally paid 83.65 BTC worth more than $3.1 million to transfer 55.77 BTC ($2.1 million). The pre-transaction balance was 139.42 BTC ($5.2 million), and the user overpaid by 120,528 times, surpassing the previous high fee of $500k by more than 6 times.

Usually, one who mines the first block at the halving is entitled as one of the four “epic sats.” These epic sats, or satoshis created during every Bitcoin halving, are 100x rarer than the “rare sats.”

Meanwhile, Bitcoin remains relatively stable following the halving event. It is currently trading at $65,166, an increase of 1.61%. Over the past seven days, the cryptocurrency has experienced a slight increase of 0.70% despite a 2.73% decline in one month.

The post Bitcoin’s Top Most Valuable Blocks Are Mined After Halving Event: Report appeared first on Coin Edition.

Bitcoin miners hit a record-breaking revenue of $107 million on April 20, the second day of halving.

Up to 75.44% of the revenue came from Bitcoin network transaction fees. 

Mining activities of the newly launched Rune protocol influenced the record-high revenue.

Bitcoin miners have attained a new milestone regarding revenue generated from validating transactions, coming just after the 2024 halving. Colin Wu’s media called attention to this development in a recent post in X. 

According to statistics from Blockchain Explorer, Bitcoin miners’ revenue clocked $107.7 million on April 20. Up to 75.44% of the revenue reportedly came from network transaction fees. Notably, the generated revenue and the network transactions of April 20 were unprecedented figures.

Chart of Bitcoin Miner’s revenue | Blockchain Explorer

It is worth mentioning that on April 19, Bitcoin miners’ review was approximately $71 million. While miners’ revenue mirrored the path of Bitcoin’s price in the last few months, the new record high revenue of $107.7 million broke out of the pattern.

Meanwhile, Colin Wu highlighted that the new record was influenced by the mining activities of the newly launched Rune protocol. Notably, the Runes protocol commenced alongside Bitcoin’s halving on April 19.  It brings to life a surge of fresh tokens and inaugurates a new era for the Bitcoin network. 

The first iteration of the Bitcoin network, the Ordinals protocol, debuted in December 2022. It enabled users to integrate diverse content such as images, audio, and code files onto the Bitcoin blockchain. 

Now, following Ordinals’ triumph, developer Casey Rodarmor introduced the concept of the Runes token protocol. This protocol seeks to streamline the generation of fungible tokens on the Bitcoin network.

As the Runes token protocol kicked off with the 2024 halving, it sparked intense competition for block space, with participants striving to be the first to generate tokens. This mining activity led to Bitcoin miners generating a record-high one-day revenue of $106.7 million on April 20.

The post Bitcoin Miner Revenue Soars to Record-breaking $107M Post-Halving appeared first on Coin Edition.

BONK was overbought, suggesting that the price could retrace below $0.000020.

The AO on the SHIB chart indicated an upward momentum while predicting a rise to $0.000032.

PEPE’s price might experience a decline but DOGE’s extension to $0.24 could be valid.

After facing an extended drawdown season, meme coins seem to be back and better as prices jumped in the last 24 hours. According to CoinMarketCap, Bonk (BONK) skyrocketed by an incredible 39.99% within the last day.

This upswing places its price at $0.000021. Shiba Inu (SHIB) followed with a 17.50% and hit $0.000027 as Coin Edition initially predicted. Pepe’s (PEPE) rose by 19.72% while Dogecoin (DOGE) had a minimal increase of 5.17%.

Bonk (BONK)

BONK broke out of its consolidation phase after trading around the same region since April 13, Meanwhile, the Bollinger Bands (BB) showed increasing volatility around the token. With the widening bands, BONK is expected to undergo significant price fluctuations.

However, the upper band of the BB had touched the token at $0.000021, indicating that it was overbought. This was also reinforced by the Relative Strength Index (RSI) which was 82.56 at press time.

BONK/USD 4-Hour Chart (Source: TradingView)

Thus, BONK might experience a notable retracement. In a highly bearish case, the value of the token might drop to $0.000015. However, if bulls keep up with the momentum, the value could key into the resistance at $0.000024.

Shiba Inu (SHIB) 

The Chaikin Money Flow (CMF) on the 4-hour SHIB/USD chart displayed signals similar to that of BONK. At press time, the CMF was 0.25, indicating that there was a positive money flow for the token.

But the reading had crossed 0.20, suggesting that SHIB  was overbought. As such, SHIB could experience a retracement which could send the price back to $0.000023. However, the Awesome Oscillator (AO) was positive, with rising green histogram bars.

SHIB/USD 4-Hour Chart (Source: TradingView)

If SHIB bulls maintain the momentum, the price of the token could rise as high as $0.000030. Should this be the case, the stage could be set for the meme coin to revisit $0.000032.

Pepe (PEPE) 

PEPE has been able to reclaim $0.0000061 with no resistance in sight. Sustaining this uptrend could drive the value of the token higher, and a surge to $0.0000067 might be possible.

But the 20 EMA (blue) on the 4-hour chart crossed below the 50 EMA (yellow), suggesting that the bullish trend has not yet been validated. However, since PEPE rose above the EMAs, bulls might prevent the price from retracing. 

On the other hand, if traders decide to book some of the recent gains, PEPE’s price might drop to $0.0000052 in the short term.

PEPE/USE 4-Hour Chart (Source: TradingView) Dogecoin (DOGE)

At press time, DOGE’s price was $0.16 with the MACD suggesting that the price might rise higher. From the chart below, the MACD was positive, suggesting that the coin might continue to build on the recent bullish momentum.

Should this be the case, the price of DOGE might rally up to $0.18. However, traders might need to watch out for bearish action which could halt the uptrend. 

DOGE/USD 4-Hour Chart (Source: TradingView)

In addition, the Fibonacci extension showed that DOGE might climb higher provided the value does not undergo a significant correction. In this instance, the price of the cryptocurrency might extend toward $0.24 within a few months.

The post Is Meme Coin Mania Back: BONK, SHIB, PEPE, DOGE Prices Surge appeared first on Coin Edition.

Kathryn Haun has announced she will be stepping down from the Coinbase board later this year.

Haun has served as a Coinbase board member for more than seven years.

According to Haun, she will leave Coinbase to double down her efforts on Haun Ventures.

Kathryn Haun, a long-serving board member at Coinbase, has announced she will be stepping down from the position later this year. In a post on X, Haun, who has served for more than seven years, noted she will be leaving the position to enable her focus on Haun Ventures, a crypto stack-supporting platform.

I’ll be stepping off the @Coinbase board later this year at the end of my third term, after 7+ years. Crypto is in a remarkable expansion state, and Coinbase is well-positioned to thrive. @HaunVentures is similarly expanding, and this feels like the right time for me to…

— Kathryn Haun (@katie_haun) April 20, 2024

Haun highlighted that crypto is remarkably expanding, with Coinbase well-positioned to thrive. She also acknowledged the expanding situation of Haun Ventures, noting that this is the right time for her to double down on supporting the platform’s growing portfolio of founders. Haun also thinks it is the right time for Haun Ventures to work towards building a lasting venture franchise.

Meanwhile, the outgoing board member appreciated her time at Coinbase, describing it as an “incredible journey.” Haun joined the Coinbase team in 2017 and has served through the company’s growth processes and that of cryptocurrency. According to her, she was there when Coinbase became the first publicly traded crypto company, leading the fight for global regulatory clarity. She also played a role when the crypto exchange launched many pieces of market and technology infrastructure, most recently Base.

Haun appreciated Coinbase founder Brian Armstrong, other board members, and the entire Coinbase leadership in her post. She considers herself lucky to have several Coinbase alums on the Haun Ventures team and as portfolio founders, noting that Coinbase is an extraordinary incubator for entrepreneurial talent.

In conclusion, Haun noted that she will always support Coinbase and remain close to the Company’s leadership even after leaving the company. She appreciated her time at the company, describing it as an “amazing ride.”

The post Kathryn Haun to Step Down From Coinbase Board Later This Year appeared first on Coin Edition.

Bitcoin jumped above $65,000 one day after an uneventful halving.

The 4-hour chart showed that the loss of the $60,266 support could lead to a correction.

In the long term, the price of the coin might head toward $85,000.

Less than 24 hours after the 4th Bitcoin (BTC) halving took place, the price climbed above $65,000. The event took place on April 20 as miners’ rewards were cut from 6.25 BTC to 3.125 BTC.

It is important to note that this happened as Bitcoin produced block number 840,000. Before the event, market participants expected the halving to cause high volatility with prices swinging very high or very low.

However, that was not the case as BTC moved sideways between $63,000 and $64,000. But with the halving done and dusted, how will Bitcoin fare in the coming months? Here, Coin Edition analyzes the price to see if the cryptocurrency would hit the astronomical values many traders have set for it this cycle.

BTC/USD 4-Hour Analysis

Since facing rejection at $71,030, BTC has been moving between $60,000 and $68,000. However, there was solid support at $60,266 on the 4-hour chart,  A breakdown between this price could send Bitcoin correcting to much lower levels like $56,000.

However, the Relative Strength Index (RSI) suggested otherwise as the reading increased. The rise in the RSI was a signal that momentum was bullish and this could foreshadow a higher price in the short term.

BTC/USD 4-Hour Chart (Source: TradingView)

However, the Money Flow Index (MFI) turned downward after an earlier surge, indicating that increasing capital in the market has decreased. Should this remain the case going forward, BTC might find it hard to cross the $73,000 region.

BTC Daily Chart Analysis

Looking at the daily chart, it was evident that Bitcoin’s price could decrease further before it goes on a rally. At press time, the Moving Average Convergence Divergence (MACD) was negative, suggesting a bearish momentum.

Furthermore, the 26 EMA (orange) was above the 12 EMA (blue), indicating that sellers were in place to outpace buying dominance. This trend, if validated, could capitulate the price of the coin. 

Possible targets if this happens might be between $53,000 and $58,000. However, in the mid to long term, the price of Bitcoin is expected to surpass its all-time high. According to signals from the Fibonacci indicator, BTC might hit $73,246 after the correction is over.

BTC/USD Daily Chart (Source: TradingView)

This was where the 0.786 Fib level was positioned. Afterward, a surge in the $85,000 direction could be next for the coin. However, it remains uncertain if BTC will hit six figures before the year ends.

The post Bitcoin (BTC) Regains $65,000: What’s Next for the Coin Post-Halving? appeared first on Coin Edition.

Satoshi Nakamoto’s earlier collaborator, Martti Malmi, previously shared a 120-page email correspondence between the two.

Colin Wu highlights Nakamoto’s concerns over identifying Bitcoin as an investment.

The emails suggest that Nakamoto preferred not to promote anonymity.

Amidst controversies regarding the identity of Bitcoin’s pseudonymous founder, Satoshi Nakamoto, 120-page email correspondence between Nakamoto and his earlier collaborator, Martti Malmi, shed light on the early days of Bitcoin creation.

Recently, Chinese crypto journalist Colin Wu, on his official page known on X as Wu Blockchain, shared insights on the emails shared by Malmi earlier this year, initially produced as evidence against Craig Wright’s claim to be the original Bitcoin founder.

Satoshi Nakamoto’s first collaborator, sophomore Martti Malmi, disclosed his emails with Satoshi. Satoshi mentioned that there is no need to promote "anonymity" and Bitcoin as an investment. Bitcoin POW consumes less energy than the traditional banking system. POW is the only…

— Wu Blockchain (@WuBlockchain) April 21, 2024

As per Colin Wu’s X post, the conversation between Nakamoto and Malmi indicated Nakamoto’s concerns over identifying  Bitcoin as an investment. In a previous X post, Wu highlighted Nakamoto’s earlier warning against Bitcoin’s significant energy consumption. In addition, Nakamoto’s concern over “labeling Bitcoin as an investment” also gained traction at the time. His recent post further stated,

Bitcoin POW consumes less energy than the traditional banking system. POW is the only solution that can make a P2P electronic cash system work without a trusted third party.

Further, Wu pinpointed Nakamoto’s insistence on not promoting “anonymity.” Nakamoto’s email read,

I think we should de-emphasize the anonymous angle. With the popularity of bitcoin addresses instead of sending by IP, we can’t give the impression it’s automatically anonymous. It’s possible to be pseudonymous, but you have to be careful.

On February 23, Martti Malmi took to X to draw the community’s attention to the 2009-2011 email correspondence between Malmi and Nakamoto. He added that he wasn’t initially “comfortable” with making the emails public, but Wright’s trial has forced him to produce it as evidence.

My email correspondence with Satoshi in 2009-2011: https://t.co/jyoX8gXckp

— Martti Malmi (@marttimalmi) February 23, 2024

However, the emails do not stand as significant evidence to prove Satoshi Nakamoto’s real identity. But, the conversation could significantly provide insights into Bitcoin creator’s vision and concerns.

The post Satoshi Nakamoto Was Concerned Over Bitcoin as an Investment: Report  appeared first on Coin Edition.