Cryptocurrency giant Binance has lost a considerable portion of its market share, according to a recent report by Kaiko.

Binance's share of global trading volume currently stands at 55%, down from 81% just a year ago. 

Meanwhile, smaller exchanges keep gaining momentum. Competitors of the likes of OKX have managed to significantly increase their market share over the same period of time.

The cryptocurrency exchange, which was founded back in 2017 by controversial Chinese-Canadian entrepreneur Changpeng Zhao, managed to turn into a cryptocurrency giant. 

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Just mere months after its launch, Binance appeared among the top exchanges by trading volumes, competing with such veterans as Coinbase. Its success was partially attributed to its successful initial coin offerings (ICOs). The exchange also quickly gained prominence due to its willingness to embrace new altcoins. 

Its success, of course, was not without controversies. Last November, CZ was forced to step down from his CEO role after he was charged with violating anti-money laundering laws in the U.S. Binance was forced to fork out a $4 billion fine. 

As reported by Bloomberg, the US Department of Justice is now seeking a three-year prison sentence for Zhao. At the same time, the lawyers of the controversial entrepreneur insist that he should be punished with probation instead. 

CZ apologized for making "poor decisions" ahead of his sentencing which is going to take place on Apr. 30.  

Despite CZ's resignation, Binance is struggling to recover from the reputational damage caused by the US DOJ charges after its market share ended up plunging by 30% in 2023.

According to a recent report by Fortune, which cites data from prominent blockchain sleuth Chainalysis, roughly 1.8 million ($121 billion) of Bitcoin is stored in wallets that have been inactive for more than a decade. 

Dormant coins account for 8.5% of Bitcoin's 19.7 million circulating supply. 

It is unclear what percentage of cryptocurrencies is lost forever, but the report suggests that the total number of such coins should stabilize around 1.5 million. 

Earlier this month, for instance, a Satoshi-era whale woke up after an entire decade of inactivity with $115 million. 

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When wallets become active again after a long period of time, some assume that they might want to take profits after a price rally. 

However, according to the report, there is no direct correlation between the activation of long-dormant wallets and substantial price moves.

Interestingly enough, Chainalysis has noted that old wallets tend to be activated at a rather predictable pace. The vast majority of such wallets do not usually make headlines due to their small size. Ninety-nine percent of all wallets that are considered to be lost contain less than 50 BTC ($3.2 million at current prices). 

A supply crunch? 

According to data provided by Glassnode, more than 68% of Bitcoin's total circulating supply has been inactive for more than a year. 

The fact that less supply is available on the market is a potentially bullish development if one takes into account growing demand following the approval of a slew of Bitcoin exchange-traded funds in January. 

The largest cryptocurrency is currently trading at $64,810 on major spot exchanges. 

Sellers are back in the game, according to CoinStats.

SHIB chart by CoinStatsSHIB/USD

The price of SHIB has gone down by 5% since yesterday.

Image by TradingView

On the hourly time frame, the rate of SHIB is going down after a breakout of the local support level of $0.00002680. At the moment, there are no reversal signals yet, which means that the decline to the $0.000025 zone is likely to continue.

Image by TradingView

On the chart, the price is far from key levels, which means that neither bulls nor bears are dominating. 

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However, if the decline continues to $0.000025, one can expect a dump to the $0.000023-$0.000024 zone. 

Image by TradingView

From the midterm point of view, the rate of SHIB has not risen after the previous bullish candle. If the current bar closes around current prices or below, traders may expect a test of the $0.000020 zone.

SHIB is trading at $0.00002588 at press time.

Bitcoin, the largest cryptocurrency by market cap, seems to be at a decisive juncture in its price action, with a key indicator issuing a warning that could imply a potential downturn in its value. However, there is a catch that might be worth considering. 

Ali, a crypto analyst, indicated in a recent tweet that the popular TD Sequential indicator has flashed a sell signal on Bitcoin's 12-hour price chart. 

Supporting this outlook is the fact that Bitcoin is currently facing resistance at the mid-level of a parallel channel. If Bitcoin faces rejection at this key price level, it might trigger a short-term price drop. 

The TD Sequential indicator has flashed a sell signal on the 12-hour chart, with #Bitcoin facing resistance at the mid-level of a parallel channel!Exercise caution, given this indicator's track record. Particularly watchful if $BTC drops below the $65,500 support level. pic.twitter.com/m7iquoi1L5

— Ali (@ali_charts) April 24, 2024

Ali adds a note of warning for Bitcoin buyers to exercise caution, given this indicator's track record. The most important thing to watch is if BTC drops below the $65,500 support level.

BTC had fallen beneath this highlighted level at the time of writing, down 2.67% in the last 24 hours to $65,168. Mid-April has historically been a period of price weakness for BTC.

According to the most recent analysis from Greekslive, implied BTC volatility declined rapidly after the BTC halving, falling from 75% to 65% to mark a new low since March.  

The crypto community watches with rapt attention to deduce BTC's next price move as it navigates its post-halving trajectory. 

Here's the catch

Despite the warning about BTC's near-term price, investors have an underlying sentiment of optimism. 

According to on-chain analytics firm Santiment, Bitcoin's key whale tier holding between 1,000 and 10,000 BTC, has accumulated 266,000 more BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. There is also a high degree of FOMO.

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Likewise, other BTC metrics are showing an uptick. Bitcoin analyst Willy Woo indicated that Bitcoin miner revenues have seen a huge jump to record highs after the halving. Likewise, Bitcoin's supply distribution continues to improve over time, with a sharp jump in the number of "whales" on-chain recorded over the last two months. 

The growth of the cryptocurrency market has not lasted long, according to CoinMarketCap.

Top coins by CoinMarketCapDOGE/USD

The rate of DOGE has declined by 3.41% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of DOGE is falling after a breakout of the local support level of $0.1605. If the daily bar closes around current levels, the decline is likely to continue to the $0.15 zone.

Image by TradingView

On the bigger time frame, the rate has once again failed to fix above the $0.16 area. At the moment, bears are more powerful than bulls. 

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In this case, there is a high chance to see a further correction to $0.145-$0.15. Such a scenario is relevant until the end of the week.

Image by TradingView

From the midterm point of view, it is too early to make any distant predictions as only a few days remain until the weekly candle classes. However, if it happens below the $0.16 zone, the drop may lead to a test of the $0.14 range shortly.

DOGE is trading at $0.1553 at press time.

Popular cryptocurrency-friendly brokerage platform Robinhood has announced that Shiba Inu (SHIB), the second-biggest meme cryptocurrency, is now available to New York State residents.

In addition, Avalanche (AVAX) and Compound (COMP) are also supported in the state.

As reported by U.Today, SHIB was originally listed on Robinhood alongside COMP back in April 2022. AVAX was added to the popular brokerage platform back in May.     

New York, the biggest financial center in the world, has long been known for its strict crypto rules. In 2015, it introduced its Bitlicense program, which prohibits digital currency companies from conducting activities in the state without obtaining a much-coveted license. Very few companies have actually managed to obtain BitLicenses. 

Critics argue that such a harsh approach has stifled innovation in New York given that many companies cannot operate in the state. Earlier this year, the office of New York State Comptroller Thomas DiNapoli questioned the efficiency of the controversial Bitlicense regime. 

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Last year, the state made its harsh approach to crypto even harsher with new coin listing policies. Notably, XRP and Litecoin were among the cryptocurrencies that were excluded from the list greenlit by the New York State Department of Financial Services.

Robinhood, which made its initial foray into the crypto industry in early 2019, managed to obtain its BitLicense in January 2019.  

In 2022, Robinhood's cryptocurrency division faced a $30 million fine for allegedly failing to comply with cybersecurity and money laundering rules. 

The price of Dogwifhat (WIF), arguably the most prominent meme cryptocurrency on the Solana blockchain, surged by an impressive 30%, reaching a 12-day pinnacle at $3.56. This meteoric rise has propelled Dogwifhat's market capitalization past the $3.5 billion mark, solidifying its position as a major player in the crypto sphere.

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The surge in value has not only elevated Dogwifhat to new heights but also catapulted it to 33rd place in the ranking of the largest cryptocurrencies by market capitalization. This puts Dogwifhat ahead of fundamental and infrastructure projects like Stellar (XLM) and Cosmos (ATOM), as well as CRO, the native token of the CryptoCom exchange, marking a significant milestone for the meme token.

Source: CoinMarketCap

This remarkable ascent can be attributed to a perfect storm of factors. Dogwifhat's enduringly charming mascot, coupled with its cultural resonance and the ever-volatile nature of the crypto market, has thrust it into the spotlight. This unique blend of appeal has not only captured the imagination of crypto enthusiasts but has also piqued the interest of major players in the financial industry.

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Evidence of Dogwifhat's newfound prominence is abundant. The "wif hat" theme has found favor with giants like the Franklin Templeton fund, a behemoth in the financial world. Furthermore, prominent financial media outlets, including Bloomberg, have dedicated coverage to the token, highlighting its growing significance. 

Even the iconic bull statue on Wall Street has been adorned with the now-famous knitted hat, a testament to Dogwifhat's cultural impact and widespread recognition.

Ethereum cofounder Vitalik Buterin has finally waded into the highly unexpected ZKasino rugpull that occurred over the past weekend. Speaking on the warpcast decentralized social media platform, Buterin slammed ZKasino, highlighting it as one of the prominent examples of how fraudsters have infiltrated the Zero-Knowledge "ZK" tech ecosystem.

ZKasino saga

Known as a decentralized betting site, ZKasino entered the spotlight on April 21 when it carted away its users' funds and deactivated its platform. The event stirred an uproar, one that had many top investors and crypto trading platforms like MEXC dissociate themselves from the scam site.

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Reacting based on community musings, Vitalik Buterin said there was "nothing 'ZK' about ZKasino except that it lives on zksync. Known as a major proponent of the Zero-Knowledge tech stack, Buterin believes it is now being abused in no small way.

The tech pioneer advised the community on the need to adapt because scammers are now adopting it since it has become a mainstream innovation. The statement from Vitalik Buterin has formed a notable clarion call for innovators as they seek to reignite trust in the broader Ethereum ecosystem.

Combating scams: No solution yet

There are a lot of scams going on in the digital currency ecosystem during this period, with losses per quarter typically running into multi-million dollars. It is worth noting that no ecosystem in the broader Web3 ecosystem is immune to these scam ventures. From MangoFarm on Solana, labeled a product of a serial scammer, to the fake airdrops on Hedera, the menace is widespread.

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Despite this challenge, crypto innovators are notably yet to find a promising solution to combat these scammers. While privacy solutions are growing, the only adopted strategy at the moment remains the awareness campaigns from crypto leaders to their respective communities.

The Shiba Inu (SHIB) community is buzzing with anticipation as Shiba Inu team member Lucie drops tantalizing hints about what's in store for Shibarium, Shiba Inu's layer-2 ecosystem.

With 2024 currently ongoing and 2025 on the horizon, excitement builds around innovative features and groundbreaking developments slated for Shibarium soon.

What's coming in 2024/2025 for #Shibarium?- #Shibaswap (version 1.75 followed by 2.0)- #Shibahub- @treatsforShib- #ShibaEternity P2E- @mvshib- @K9finance Liquid Staking- Layer 3 TestnetAdditionally, fully functional DAOs will be available for all tokens within the Shiba… pic.twitter.com/iICIaoi11Z

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) April 24, 2024

Among the teased developments for Shibarium in 2024-2025 are: ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, Shiba Inu metaverse, K9finance, Liquid Staking and layer-3 testnet. Furthermore, fully functional DAOs will be available for all tokens in the Shiba ecosystem.

While specific details remain under wraps, the team member's comments have sparked excitement and speculation within the SHIB community.

Shibarium has seen significant growth since its inception, reaching 417,302,469 in total transactions; 1,785,254 in wallet addresses and 4,371,712 in total blocks. 

The upcoming TREAT token will power Shiba Inu's blockchain, featuring fully homomorphic encryption (FHE), developed in collaboration with Zama. Shiba Inu recently revealed that it has raised a whopping $12 million from major VC partners - to the delight of its community.

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This funding round is expected to help solidify Shibarium’s position as the epicenter of the memes in the crypto world and scale the utility of the ecosystem to new heights.

While excitement remains, the SHIB community should bear in mind that TREAT has not been released, and any claims suggesting otherwise are fraudulent.

As the Shiba Inu team continues to work diligently behind the scenes to bring these plans to fruition, the SHIB community eagerly awaits further updates and announcements regarding Shibarium's development.

Founder of Blockstream Adam Back has addressed his followers on the X/Twitter social network, urging them to keep stacking Sats, and do it “harder,” while Bitcoin is trading at the current price level.

Back cited the popular Duke Nukem character in his tweet today, adding stacking Sats: "It's time to stack sats and chew bubblegum, and I'm all out of gum."

"It's time to stack sats and chew bubblegum, and I'm all out of gum." -Duke Nukem, Duke Nukem Forever pic.twitter.com/NePpJa6MES

— Adam Back (@adam3us) April 24, 2024

In an earlier tweet today, Back also addressed the Bitcoin community, urging it to “stack Sats harder while you can.”

GM. stack harder while you can!

— Adam Back (@adam3us) April 24, 2024

Back did not name the reason, but it seems obvious that he expects the Bitcoin price to skyrocket soon after the recent halving. This “soon” however, may take many months. Still, the fact is that Bitcoin block rewards have shrunk by 50% to 3.125 BTC from 6.25 BTC. The second fact is that spot-based exchange-traded funds continue to accumulate Bitcoin, sucking it up from the market.

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Bitcoin ETF runs positive for several days now

@spotonchain analytics account has reported that spot Bitcoin funds continue to see BTC inflows and have been getting positive inflows over the past three consecutive days. On April 23, the BTC net inflow constituted $32 million.

However, all of the 10 Bitcoin ETFs, and in particular BlackRock’s iShares (IBIT), have been having weak flows recently. As for Grayscale, for the past four trading days, its single-day Bitcoin ouflow from GBTC remains under $100 million.

🚨 $BTC #ETF Net Inflow Apr 23, 2024: +$32M!• The net inflow has been positive for 3 consecutive trading days.• The single-day outflow of #Grayscale Bitcoin Trust $GBTC remains under $100M for 4 trading days in a row.• Generally, all 10 #Bitcoin #ETFs, especially… pic.twitter.com/puqBk8faGv

— Spot On Chain (@spotonchain) April 24, 2024

Before the halving took place on April 20, spot Bitcoin ETFs consumed about 12x the amount of BTC produced by miners per day. Back then, the daily amount produced was 900 BTC. Now, it is 50% less – 450 BTC.

In March this year, global pioneer cryptocurrency Bitcoin succeeded in reaching a new historic price high of $73,750. That was the first time BTC reached a new ATH before a halving.

In a series of substantial transactions that have caught the attention of the community, XRP whales have transferred over $20 million worth of the digital asset to unidentified wallets. These transactions, coupled with a recent uptick in the price of XRP, have sparked speculation and debate about the future trajectory of the cryptocurrency.

🚨 19,904,968 #XRP (10,921,539 USD) transferred from #Binance to unknown wallethttps://t.co/OthEaCLoXS

— Whale Alert (@whale_alert) April 24, 2024

Whale Alert, a prominent X account known for tracking and reporting large crypto transactions, reported a significant transfer, stating that nearly 19.9 million XRP, valued at approximately $10.9 million, had been transferred from Binance to an unknown wallet. This was followed by another report indicating that almost 18.8 million XRP, worth around $10.3 million, were transferred from Binance to a different unknown wallet.

🚨 18,842,157 #XRP (10,264,289 USD) transferred from #Binance to unknown wallethttps://t.co/BbTRNO0idC

— Whale Alert (@whale_alert) April 24, 2024

These back-to-back transfers indicate a concerted effort by XRP whales to accumulate substantial amounts of the cryptocurrency. The scale of these transactions is further underscored by a recent report from U.Today, which highlighted a separate whale purchase of 24.5 million XRP, valued at approximately $13.7 million.

XRP market sentiment

The timing of these large transactions coincides with a notable surge in the price of XRP. Data from CoinMarketCap shows that XRP has experienced a 10.63% increase in its price over the last seven days, reaching a current price of $0.5455. This upward momentum in price suggests that the market sentiment toward XRP is currently positive, potentially attracting whales to increase their holdings in anticipation of further gains.

While the recent whale activity and price surge in XRP offer potential opportunities for investors, they also come with inherent risks. The opaque nature of the crypto market, coupled with the anonymity of large transactions, can create an environment conducive to market manipulation and sudden price volatility. As the XRP community continues to monitor these developments closely, it is crucial for investors to remain vigilant.

Dog-themed cryptocurrency Shiba Inu (SHIB) might be on the verge of regaining its position among the top 10 cryptocurrencies by market capitalization following an impressive 25% rise in value over the past week. 

With its uptick in value, Shiba Inu is inching closer to the 10th spot currently held by Cardano (ADA), which has a market capitalization of $17.7 billion.

Shiba Inu currently ranks as the 11th largest cryptocurrency, with a market capitalization of $16 billion. According to current data, Shiba Inu may need to increase its market capitalization by $1.7 billion to retake 10th rank.

At the time of writing, SHIB was up 3.30% in the last 24 hours to $0.00002724. SHIB was up 25.43% in seven days.

SHIB/USD Daily Chart, Courtesy: TradingView

Shiba Inu has steadily risen from a low of $0.00002 on April 19 to a high of $0.000028. The coin's advance could have been aided by a broader upturn in the cryptocurrency market, which has seen cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) rebound to recently tested highs. 

Shiba Inu revealed at the start of the week that it has raised a whopping $12 million from major VC partners to launch its Fully Homomorphic Encryption (FHE) blockchain developed in collaboration with Zama, which will be powered by the upcoming TREAT token. 

FHE enables computations on encrypted data and has the potential to transform crypto's privacy and trust. It would be a major game-changer for how personal and financial information are handled.

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The innovation signals the potential for future growth in the ecosystem and has been hailed as a major milestone by Shytoshi Kusama, Shiba Inu's pseudonymous project lead. 

Shiba Inu team member Lucie outlines what is planned for Shibarium in 2024-2025 in a tweet: ShibaSwap (version 1.75, followed by 2.0), Shibahub, Treat, ShibaEternity P2E, Shiba Inu metaverse, K9finance, Liquid Staking and layer-3 testnet. Furthermore, fully functional DAOs will be available for all tokens in the Shiba ecosystem.

Bitcoin analyst Willy Woo recently initiated a discourse within the cryptocurrency community concerning the feasibility of Bitcoin surpassing gold's market capitalization of $17.7 trillion. In a series of insightful remarks, the expert delved into the nuanced dynamics of stock-to-flow (S2F) ratio, inflationary trajectory of BTC and the evolving landscape of institutional adoption.

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Central to Woo's thesis is the S2F model, a metric that gauges an asset's scarcity by comparing its existing supply to its annual production. With Bitcoin's inflation rate now lower than that of gold, the expert posits that the cryptocurrency stands poised to challenge the dominance of the precious metal in the realm of store-of-value assets.

Source: Willy Woo

However, Woo tempered expectations by suggesting a potential lag of 5 to 10 years before Bitcoin's market capitalization aligns with its S2F valuation. He attributed this delay to various factors, including the gradual integration of Bitcoin into institutional portfolios, the development of regulatory frameworks and the establishment of custody solutions.

People's money

Despite this cautious prognosis, Woo underscored the potential for retail investors capable of self-custodying their Bitcoin holdings to experience the benefits of the S2F model sooner. He hinted at a divergence between institutional and retail adoption timelines, suggesting that the latter may embrace Bitcoin's value proposition more rapidly.

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As there is a possibility for Bitcoin's market cap to reach $17 trillion, questions linger about the potential implications for cryptocurrency's price dynamics in the interim. 

Could the perceived lag between Bitcoin's intrinsic value and its market capitalization lead to increased volatility or speculative trading patterns? And how might external factors such as regulatory developments and macroeconomic trends influence its trajectory relative to gold?

Tron and Binance Smart Chain (BSC) are active, with a high number of active addresses transferring stablecoins. However, a closer look at the dollar volumes transferred tells a different story, where Solana and Ethereum emerge as leaders.

It suggests that while there might be fewer individual transactions on Solana compared to Tron or BSC, the transactions that are occurring are of much higher value. This can be interpreted as an indication that Solana's network is currently favored by larger investors, or "whales," who are moving substantial amounts of stablecoins.

Interesting that while Tron and BSC lead in active addresses for stablecoin transfers, Ethereum and Solana lead in $ volumes of stablecoin transfers. -@CharlieYouAI @ournetwork__ pic.twitter.com/G1EdQphht0

— Chris Burniske (@cburniske) April 24, 2024

The contrast becomes starker when considering the nature of the transactions on Tron and BSC. These networks appear to cater more to retail traders and investors. The lower transaction fees make these networks attractive for those looking to perform smaller, day-to-day transfers. Tron, for instance, has an average token transaction fee of around $2, making it an economical choice for regular use.

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Solana's attraction for whales gives it a unique position in the market, especially in terms of liquidity and the potential it has compared to other networks. Meanwhile, the popularity of Tron and BSC among retail participants could influence the development of user-centric applications and services that benefit from high transaction throughput.

Ultimately, the choice of network may come down to the specific needs and strategies of stablecoin users. Solana's edge in dollar volume points to strong, albeit more concentrated, economic activity, while Tron and BSC's active addresses reflect an ecosystem with a higher number of retail investors and traders.

In a strategic move to maintain a high-quality trading market, Binance, the world's leading cryptocurrency exchange, has announced the delisting of six spot trading pairs. 

To safeguard users and assure a high-quality trading market, Binance reviews all listed spot trading pairs regularly and may delist some spot trading pairs for a variety of reasons, including low liquidity and trading volume.

According to its most recent reviews, Binance will remove and cease trading on six spot trading pairs on April 26 at 3:00 a.m. (UTC): ALPINE/BTC, FRONT/TUSD, HARD/BTC, RUNE/TUSD, SSV/TUSD and WIN/BRL.

Similarly, Spot Trading Bot services for the aforementioned spot trading pairs will be discontinued on the specified date and time, as applicable. Binance users are strongly urged to update and/or terminate their Spot Trading Bots before the discontinuation of Spot Trading Bot services to avoid any losses.

Delisting a spot trading pair does not affect the tokens' availability on Binance Spot. Users can continue to trade the spot trading pair's base and quote assets on Binance's other trading pairs. 

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In similar news, Binance has announced that it would stop processing deposit requests for BEP2 tokens, excluding BEP2 Binance-pegged tokens (B-tokens), on May 15, 2024, at 12:00 a.m. (UTC), as the BNB Chain team prepares to sunset the BNB Beacon Chain (BEP2) by June 2024. 

Users are highly encouraged to deposit BEP2 B-tokens into their Binance accounts before the BEP2 network sunsets in June 2024. B-tokens credited into Binance accounts can then be withdrawn via its native network or other networks that Binance supports.

In positive listing news, Binance Futures will launch the BOMEUSDC, TIAUSDC and MATICUSDC Perpetual Contracts on April 25, with up to 50x leverage and 75x leverage, respectively.

Solana (SOL) is in a recovery mode today with its price visibly breaching the $150 resistance point. At the time of writing, data from CoinMarketCap shows that Solana is up by 1.81% in the past 24 hours and is changing hands for $157.08 on spot exchanges.

Solana network recovery as catalyst

Solana has been in a state of limbo for some time, with menacing network congestion acting as a major bane to its growth overall. However, a recent update indicates that the Solana block production has now returned to its normal level with an average block time of two seconds.

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Per data from SolanaFloor, a total of 409 out of 409 transactions were reportedly confirmed on the Solana network, indicating rebooting network health. There are many positive omens surrounding this unique network rebound, and there might be an accompanying surge in the demand for SOL.

🚨 BREAKING: @solana's congestion issues have been completely resolved, with block production back to normal.Transactions confirming in under 2 seconds. pic.twitter.com/TdQVjSSRQI

— SolanaFloor | Powered by Step Finance (@SolanaFloor) April 24, 2024

The menacing network congestion on Solana forced a number of projects that had already planned their respective launches to jump ship. Other projects halted their respective debut until when the coast became clear.

With this latest Block production update, Solana bulls might now be ready for a complete rebirth.

Solana developers to get praise

Solana was designed to enhance both enterprise adoption and retail embrace. With congestion issues threatening to derail its growth path, cofounder Anatoly Yakovenko and other innovators within the ecosystem sprang into action with proposals to fix the bug.

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A breakthrough was recorded earlier this month when a major fix was deployed on the testnet by the core Solana team. However, other validator clients like Anza also created patches that contributed to the overall enhancement of the Solana blockchain.

In all, the ecosystem is eyeing a promising future ahead, as teased by the more than 24.5% jump in trading volume to $3,142,785,397.

Anthony Scaramucci, founder of SkyBridge Capital, has taken to his X/Twitter account to publish a post about Bitcoin. He has stressed the importance of owning this leading digital currency now, after recent major developments.

He stated that holding Bitcoin is not a question of courage anymore, but it is a “question of brains” now.

It took guts to own #Bitcoin before now. From here out it’s a question of brains.

— Anthony Scaramucci (@Scaramucci) April 24, 2024

Scaramucci is likely emphasizing the fact that not only the spot ETFs have created an additional demand for BTC but also the halving event that took place on Saturday have radically reduced the amount of new Bitcoins that are now issued into circulation. Therefore, what many, including Bitcoin influencer Samson Mow, call the “supply shock” and the “demand shock” are already here, and now they are about to collide.

His tweet triggered a heated discussion within his numerous followers. Many rushed to agree with Scaramucci, sharing how happy they are to hold BTC. One user, however, reminded the financier about his investment into the FTC exchange and asked whether it was “guts or brains” that had led him to do that.

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Omega candles inevitable now: Samson Mow

Former Blockstream CSO and now chief executive at Jan3, Bitcoin maximalist Samson Mow, has recently talked to Forbes about the recent Bitcoin halving and the Omega candles he now expects to occur soon.

Mow clarified to Forbes how halvings work and how miners help to release new Bitcoin onto the market. Now that the world’s flagship cryptocurrency has started on its fifth epoch, BTC block rewards have been reduced by 50% - from 6.25 BTC to 3.125 BTC. These halvings happening every four years make Bitcoin more deflationary (as opposed to the U.S. dollar and other fiat currencies) and prolong the issuance of BTC on the market.

Prior to the halving, ETFs began purchasing between 5x and 15x Bitcoin produced by miners per day (900 BTC before the halving), Mow pointed out that these purchases began to create the Bitcoin demand shock.

He now expects so-called Omega candles to start emerging soon – they are major trading candles that would mean high volatility but also big shifts in the Bitcoin price, Mow explained.

At press time, Bitcoin is changing hands at $66,392 after surging by almost 9% since the halving day.

The average Bitcoin (BTC) dormancy has surged to a 13-year high, according to recent data shared by Ki Young Ju, the CEO of CryptoQuant. This uptick in dormancy suggests a significant transfer of older Bitcoins to new holders, potentially reshaping the cryptocurrency's ownership landscape.

On March 23, Bitcoin's Average Dormancy reached a level of 227.684, as indicated by a chart shared by Ki Young Ju on X. Average Dormancy is a metric that represents the average number of "destroyed days" of moved coins. This figure is calculated by dividing Coin Days Destroyed (CDD) by the total movement of coins.

#Bitcoin's Average Dormancy hit a 13-year peak recently, indicating a transfer of old Bitcoins to new holders. The cap table for Bitcoin is shifting, potentially altering the ownership landscape.Who are the new major shareholder(s)? pic.twitter.com/XaurClSW4r

— Ki Young Ju (@ki_young_ju) April 24, 2024

What’s happening?

A higher Average Dormancy value typically indicates that long-term holders are moving or potentially selling their coins, which could signal an impending price drop. The Average Dormancy of Bitcoin hitting a 13-year peak is noteworthy for several reasons. First, the increase suggests that older, long-term holders of Bitcoin are either transferring their holdings or selling them to new investors.

This shift could potentially alter the ownership distribution of Bitcoin, with new participants gaining a larger share of the market. Second, historically, spikes in Average Dormancy have often been followed by increased price volatility. If long-term holders are indeed selling or transferring their coins, it may lead to a greater supply of Bitcoin on the market, potentially putting downward pressure on prices.

Lastly, the rising Average Dormancy could also reflect changing market sentiment among Bitcoin holders. Long-term investors may be responding to macroeconomic factors, regulatory changes or other market dynamics that influence their decision to hold or sell their assets.

Overall, Ki Young Ju's observation about the shifting cap table for Bitcoin underscores the evolving nature of the market. As older Bitcoins are transferred or sold to new holders, the ownership dynamics of Bitcoin are undergoing a significant transformation. Market participants should closely monitor these developments, as they could have far-reaching implications for market sentiment in the coming months.

ADA has witnessed a surge in activity, with the number of large transactions skyrocketing. A staggering 25 billion ADA were transferred within a 24-hour period. The activity spotted on-chain aligns with ADA's price action and demands a deeper look into the on-chain metrics and their implications for the asset's future.

Delving into the on-chain data, we see a notable spike in the number of large transactions, which often signify substantial wallet movements by whales or institutional players. Such movements can suggest preparation for market developments, bullish or bearish. Furthermore, the large transaction volume, peaking at 27.67 billion ADA recently, reinforces the intensity of this activity.

Source: IntoTheBlock

Simultaneously, ADA's price chart displays a tension-filled narrative. After a period of decline, ADA shows attempts at recovery, flirting with the 50-day EMA, currently at around $0.5, yet unable to achieve a clear breakthrough. 

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With ADA currently trading just below this critical EMA level, the focus is on whether it can gain the necessary momentum to surpass it. If ADA succeeds, it could encounter the next resistance at approximately $0.55, an ascent that would align with the increased on-chain activity. Conversely, failure to move past the 50 EMA may see ADA retest the support near $0.49, a recent low that might serve as a staging ground for another upward attempt.

Given the current dynamics, the future for ADA depends on the on-chain activity and the surge of buying activity on the market.  Unfortunately, the market is currently taking a break before moving upwards again. Hopefully, the drop of liquidity and volatility on the market closer to the weekend will not lead to a substantial price drop.

In a move that has the cryptocurrency community buzzing with excitement, Coinbase, one of the leading cryptocurrency exchanges, has announced a giveaway to commemorate Bitcoin's historic halving event. 

As part of this celebration, Coinbase will host a weekly Bitcoin giveaway, offering participants the chance to win BTC in recognition of this pivotal moment in Bitcoin's history.

The Bitcoin halving, a programmed event that occurs approximately every four years, is a fundamental feature of Bitcoin's monetary policy, designed to limit the supply of new BTC entering circulation. 

During the halving, the rate at which new Bitcoins are created is cut in half, reducing the rate of supply growth and exerting upward pressure on Bitcoin's price over time.

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The most recent Bitcoin halving occurred in the past week, marking the fourth such event in Bitcoin's history. To commemorate this milestone and celebrate the progress of the Bitcoin network, Coinbase has announced a series of weekly giveaways, offering participants the opportunity to win Bitcoin prizes.

"To celebrate the fourth halving, we’re giving away 1 bitcoin each week between now and May 20. The first drawing is on May 9," Coinbase said in a tweet. 

To celebrate the fourth halving, we’re giving away 1 #Bitcoin each week between now and May 20th.First drawing is on May 9th.Here’s how to enter ↓https://t.co/LciaL20Ssz pic.twitter.com/6OspOEfKcV

— Coinbase 🛡️ (@coinbase) April 23, 2024

The promotion, which begins on April 19, 2024, at noon Pacific Time, and ends on May 20, 2024, at 11:59 p.m., will see one potential winner randomly drawn from all eligible entries received each weekly period. This culminates in a total of four potential winners throughout the promotional period.

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There are three possible methods of entry that are submitting an email address using the form on the Coinbase official page to earn an entry for a chance to win 1 BTC. Second, sign and verify a Coinbase account by May 20 to earn an additional entry. Third, add a payment method and complete the first trade of any amount of crypto by May 20 to earn an entry. A maximum of 10 entries is allowed during the promotion period.

Coinbase says winners will be randomly selected each week and awarded a sum of Bitcoin directly to their Coinbase wallets.