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Updated April 22, 2024

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According to U.Today, BlackRock's Bitcoin exchange-traded fund (ETF) has ended its 71-day streak of consecutive inflows. On Wednesday, the fund, known as IBIT, failed to attract any new inflows, while total outflows reached $120 million. In contrast, Grayscale's GBTC continues to experience significant outflows, losing more than $130 million in a single day. Fidelity's FBTC and Ark's ARKB saw modest inflows of $5.6 million and $4.2 million respectively, but these were not enough to offset Grayscale's losses.

On Tuesday, BlackRock's IBIT recorded $10 million worth of inflows. Many traders track ETF flows to gauge market sentiment, so the lack of fresh inflows into BlackRock's fund on Wednesday could be interpreted as a bearish signal for the market, at least in the short term. However, it's important to note that these ETFs initially attracted stronger-than-expected inflows following their launch. The ETF has now reached $20 billion in assets under management (AUM). For comparison, the SPDR Gold ETF (GLD) took almost three years to reach the same milestone.

Despite the total AUM of GLD being almost three times larger, IBIT has surpassed GLD in daily trading volume. It's common for ETFs to stop attracting flows once they reach a certain size, and BlackRock's Bitcoin ETF has managed to record one of the longest streaks of inflows. However, it still falls short of funds such as the JPMorgan Equity Premium Income ETF (JEPI) and the Pacer US Cash Cows 100 ETF (COWZ).

Despite the implications of IBIT's now-interrupted inflow streak, the overall sentiment in the crypto market appears to be bearish. The price of Bitcoin has fallen more than 3% over the past 24 hours, and is currently trading at $64,329.

According to U.Today, the Shiba Inu team has announced a series of updates for Shibarium, their blockchain platform, for the years 2024 and 2025. The information was shared by Lucie, the marketing expert of SHIB, via a Twitter post. The updates include the release of a new version of the ShibaSwap DEX, version 1.75, which will be followed by the 2.0 iteration.

The team also plans to complete the much-anticipated Shiba Inu Metaverse project, which includes multiple hubs and virtual land for sale. A new version of the Shiba Eternity game for smartphones is also in the pipeline. The TREAT token, along with a testnet of the layer-3 solution built on top of Shibarium, is also set to be launched. The TREAT token will power the new blockchain that the team, led by Shytoshi Kusama, is currently developing.

Lucie also mentioned that functional DAOs on Shibarium will become available for all tokens currently used in the Shiba Inu ecosystem. She emphasized that all the updates she listed were already publicly known. The SHIB team is committed to completing the projects they started earlier, with the layer-3 blockchain being the only recently announced project.

In a separate social media message, Shytoshi Kusama, the enigmatic leader of the SHIB team, confirmed the upcoming release of ShibaSwap 1.75 before the rollout of version 2.0. Kusama also addressed critics of Shiba Inu, reminding them of the time and energy he has invested in building SHIB and Shibarium. He concluded his message by criticizing those spreading fear, uncertainty, and doubt about the project.

According to U.Today, Ripple's Chief Technology Officer, David Schwartz, recently addressed concerns from the XRP community about the relevance of XRP following the company's foray into the stablecoin market. Earlier this month, Ripple announced the launch of its own dollar-pegged stablecoin, which is set to be issued later this year. The token, backed by U.S. dollar deposits, short-term treasury bonds, and other cash equivalents, is a significant step in Ripple's expansion strategy. Initially, it will be deployed as an ERC-20 standard token, aimed at improving the efficiency and stability of transactions within the ecosystem.

In the wake of the stablecoin announcement, questions were raised about the role of XRP in Ripple's future payment solutions. Schwartz emphasized the strategic importance of XRP in the company's vision, dispelling speculation that the stablecoin's introduction would reduce XRP's significance in facilitating seamless cross-border transactions. He stated that XRP would continue to be used where it works best, without any barriers to users getting the best experience. However, where XRP does not work best, the company does not want users to use it just for the sake of it, potentially leading to an inferior experience or worse economics.

Schwartz also highlighted the crucial role of payment software capable of settling with XRP, emphasizing its superiority in certain scenarios. He reiterated Ripple's commitment to providing users with the best possible experience, leveraging XRP where it excels and acknowledging its limitations in other contexts. Schwartz's comments serve to dispel any notions of XRP's diminishing relevance within the Ripple ecosystem. Instead, he stressed the importance of ensuring that users have access to the most suitable payment methods for their needs, whether that be XRP or the new stablecoin.

According to U.Today, Shiba Inu (SHIB) has reached a critical juncture, experiencing a significant reversal at the 50-day Exponential Moving Average (EMA). This shift away from the 50 EMA indicates a cooling of SHIB's momentum, aligning with a broader trend of waning strength in the cryptocurrency market. This reversal has occurred amidst neutral trading volume, suggesting a lack of trader commitment to drive SHIB's price in either direction. This market indecision is mirrored in the Relative Strength Index (RSI), which currently sits at a neutral value of 50, indicating neither an overbought nor an oversold condition.

SHIB's failure to secure a breakthrough above the 50 EMA reflects the current market state, characterized by a lack of buying power across various assets. The support level at $0.000021 serves as SHIB's immediate floor. A drop below this level could indicate a further decline, with potential support at the lower boundary of the trading channel near the $0.000012 mark.

If SHIB can rally back and surpass the 50 EMA, it could potentially target higher resistance levels. The first area of contention would be the recent high around the $0.00003 range. However, SHIB's upward journey may not be smooth, as it would require significant market participation and a sentiment shift to fuel such a rise. The future moves of SHIB depend on whether it can muster the strength to recover from its current levels or if the market's pause is a precursor to a deeper retracement. It is crucial to monitor the support at $0.000021 and any reversal from it. There is a high possibility of a strong and swift bullish retracement, and prematurely dismissing SHIB could prove to be a rash decision.

According to U.Today, the Shiba Inu community has significantly increased the burn rate of the SHIB meme coin. Data from the Shibburn explorer reveals that over the past 24 hours, 40,067,872 SHIB meme coins have been disposed of. Although the quantity of tokens burned is not extraordinary, the burn rate has seen a substantial increase of 2,076%. The largest burn of the meme cryptocurrency occurred 14 hours ago, with 20,000,000 SHIB being destroyed. Another significant burn happened two hours ago, with 1,693,629 SHIB transferred to an unspendable blockchain wallet.

In other news, Shiba Inu's marketing lead, Lucie, recently shared a list of upgrades set to be launched on Shibarium in 2024 and 2025. These include the SHIB Metaverse, another version of the Shiba Eternity game, and ShibaSwap DEX 1.75, with version 2.0 to follow. New projects planned for Shibarium include a layer-3 testnet and the TREAT token, which will power a new blockchain running on top of Shibarium. To initiate the construction of the layer-3 solution, the SHIB team has raised $12 million from major investors.

Despite these positive developments, the SHIB meme coin has not performed well in terms of price. Over the past 24 hours, the second largest meme cryptocurrency has lost approximately 10.39%. At the time of writing, SHIB is trading at $0.00002458.

According to U.Today, a recent analysis by data analytics firm IntoTheBlock has revealed a worrying trend in the Cardano (ADA) ecosystem. The report indicates that a significant number of ADA holders are currently in loss. The study examined the profitability of holders across various layer-1 networks, showing considerable differences.

Bitcoin emerged as the clear leader, with a high percentage of holders in profit, closely followed by TRX. Dogecoin (DOGE) and Ethereum (ETH) also showed strong profitability among their holders. However, Cardano stood out with only 35% of its holders currently in profit.

The data further reveals that the profitability of ADA addresses is under pressure. Out of the 1.59 million addresses holding 14.07 billion ADA, a significant portion — 5.71 billion ADA — were bought at prices ranging from $0.000006 to $0.299162 per token. In contrast, a staggering 2.73 million addresses are experiencing losses, holding 20.07 billion ADA, primarily from purchases made between $0.5975 and $0.7265 per ADA.

Currently, 152,940 addresses are at a break-even point, with 947.87 million ADA collectively held. This complex data leads to varied interpretations. On one side, the increasing losses incurred by Cardano holders exert significant downward pressure on the cryptocurrency's price. On the other side, it suggests a potential undervaluation in the market, indicating the possibility of a substantial revaluation if positive developments occur unexpectedly.

On Apr 25, 2024, 15:51 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 64,000 USDT benchmark and is now trading at 64,017.148438 USDT, with a 0.94% decrease in 24 hours.

According to U.Today, despite a recent 8% drop in price, the majority of Dogecoin holders are still in profit, as indicated by a key on-chain metric. At the time of writing, Dogecoin had fallen 7% in the last 24 hours to $0.1496, reflecting the broader market sell-off that saw Bitcoin drop below the $64,000 mark. Data from IntoTheBlock shows that a significant 83% of Dogecoin holders are currently in profit, demonstrating the resilience and confidence of these holders amidst market volatility.

In a recent post, IntoTheBlock shared a chart showing the percentage of holders in profit across several top layer-1 networks. While Bitcoin and TRX have a larger proportion of their holders in profit, Dogecoin and Ethereum are among the few layer-1 blockchains that also have the majority of holders in profit, at 83% and 81% respectively.

The wider crypto market is experiencing a sell-off, with most cryptocurrencies, particularly those in the top 100, posting losses between 4% and 20%. Dogecoin was not immune to the bearish market trend, falling to intraday lows of $0.148 from a previous day high of $0.169. Despite the price dip, the holder profitability metric has provided a glimmer of hope for Dogecoin holders, indicating that a significant majority of them are still in the green. Currently, Dogecoin holder profitability stands at 82%, according to IntoTheBlock, a slight decrease from the 83% previously mentioned.

This suggests that a large portion of Dogecoin holders bought their tokens at lower prices and are currently making a profit, even amidst the recent market uncertainty. This resilience among Dogecoin holders reflects their strong belief in the long-term potential of the cryptocurrency and their willingness to endure short-term price fluctuations. The percentage of long-term holders, defined as those who have held their coins for more than a year, is currently 65%, according to IntoTheBlock data.

According to U.Today, Bitcoin's price, currently hovering around the $63,800 mark, has investors on edge as crypto analyst Ali Martinez points out a worrying pattern on the charts. Martinez's recent analysis of the leading cryptocurrency's performance reveals two significant sell signals, suggesting possible downward pressure on Bitcoin.

The first signal is the appearance of a 'death cross' between the 50 and 100 Simple Moving Averages (SMA) on the Bitcoin 12-hour chart. This ominous pattern takes place when the short-term moving average, in this case, the 50-day one, crosses below the long-term moving average of 100 or 200 days. Historically, the death cross has been seen as a bearish indicator, hinting at a potential shift in momentum from bullish to bearish sentiment.

Adding to the worry is the emergence of a red 9 candlestick from the TD Sequential indicator. This tool, developed by market analyst Thomas DeMark, is used in technical analysis to identify potential price exhaustion and trend reversals. In this situation, the red 9 candlestick implies that Bitcoin's upward momentum might be waning, potentially setting the stage for a corrective move.

If Bitcoin fails to maintain above the critical support level of $63,300, investors might need to prepare for further downside. Martinez cautions that a breach of this level could pave the way for Bitcoin to test lower support zones at $61,000 or even $59,000. The current price of Bitcoin, down 16% from its all-time high, further emphasizes the uncertainty in the cryptocurrency markets. As crypto enthusiasts closely watch the evolving price action, all eyes are now on whether Bitcoin will succumb to the ominous signals of the impending death cross or defy expectations with a bullish resurgence.

According to U.Today, recent data indicates that long-term Bitcoin whales are amassing substantial profits despite market fluctuations. Despite a minor downturn in the broader crypto market, these Bitcoin whales appear to be maintaining their positions, which could have potential market impacts if they decide to liquidate.

CryptoQuant, a well-known cryptocurrency analytics platform, recently published data showing the unrealized profits of long-term Bitcoin whales. The data reveals a significant trend: as the price of Bitcoin has been increasing, long-term whales have been experiencing a steady growth in their unrealized profits. This rise in unrealized profits suggests that these whales are opting to hold onto their positions, rather than selling at the current price levels.

This behavior among long-term whales is significant for several reasons. Firstly, it highlights the confidence these large-scale investors have in Bitcoin's long-term potential, even amidst short-term market volatility. Secondly, their decision to accumulate profits could potentially influence market dynamics. If these whales decide to start taking profits by selling their Bitcoin holdings, it could result in increased selling pressure and subsequent price fluctuations.

Meanwhile, the broader Bitcoin market has seen a price dip. As per the latest data, Bitcoin is trading at $64,042, marking a 3.86% decrease over the last 24 hours. Despite this decline, the trading volume for Bitcoin has surged by 39.59%, reaching $33.28 billion. This increase in trading volume suggests heightened market activity, possibly driven by traders reacting to recent price movements and the behavior of long-term whales.

According to U.Today, Charles Hoskinson, co-founder of Ethereum and creator of IOG and the Cardano blockchain, recently shared his perspective on the purpose of cryptocurrency on social media. Hoskinson quoted a line from the 1938 song 'I Don't Want to Set the World on Fire' by Bennie Benjamin, Eddie Durham, Sol Marcus, and Eddie Seiler, stating, 'Crypto doesn't want to set the world on fire, it just wants to start a flame in your heart.' This quote encapsulates Hoskinson's view of the role of cryptocurrency.

Previously, Ethereum founder Vitalik Buterin had also expressed a similar sentiment about the true goal of cryptocurrency. Buterin emphasized that cryptocurrencies were not designed solely to function as digital assets or for trading purposes. He pointed out that the original intention of Bitcoin's creator, Satoshi Nakamoto, was much broader. Nakamoto envisioned Bitcoin as a tool for promoting liberty and decentralization.

Buterin further stated that the ethos of cryptocurrency extends beyond mere token trading. It is about safeguarding freedom and privacy and empowering the common man. He also noted that these values are increasingly under threat worldwide. Both Hoskinson and Buterin's statements highlight the broader philosophical and societal implications of cryptocurrency, beyond its financial aspects.

According to Foresight News, ZetaChain, a full-chain abstraction L1, plans to allocate 5% of the total ZETA supply for the growth of developers and the DApp ecosystem. Additionally, 1% of the total supply, equivalent to 21 million ZETA, has been specifically set aside for Bitcoin projects. This allocation is the first from the 12% of the total supply that ZETA has earmarked for its Ecosystem Growth Fund, which it plans to distribute over the next three to four years.

ZetaChain's development plan for the Bitcoin project ecosystem will primarily focus on three major areas: Bitcoin infrastructure, Bitcoin DeFi, and Bitcoin gaming and social. The plan has already started accepting applications.

According to Foresight News, Franklin Templeton has enabled peer-to-peer transfers for its on-chain US government money fund. Each share of Franklin Templeton on Polygon and Stellar is represented by BENJI tokens. BENJI token holders are able to transfer shares amongst each other.

According to Foresight News, Masa, the decentralized 'AI Data Chain', has launched a decentralized AI developer ecosystem. The company has also announced the first batch of AI developer teams that are using Masa's vast user data to develop products. There are a total of 13 partners, including decentralized AI network Allora, on-chain AI agency economy project Spectral, collaborative AI agency ecosystem ChainML, distributed synthetic social network CharacterX, Web3 data layer RootData, graph AI model Pond based on chain data, AI-driven on-chain service market DAREN, DeAI network JoJoWorld from text to 3D, Web3 personal data layer RIDO, AI CMO project Opencord AI, AI emotional companion and Web3 AI assistant CogniXphere, distributed computing infrastructure service provider Xmultiverse, and modular AI network Unibase.

In this collaboration, Masa will empower the developer ecosystem and promises to provide its decentralized AI developers with $100,000 in MASA tokens to help builders enhance the capabilities of decentralized AI. AI developers can easily use the 43 million proprietary data contributed or crawled and aggregated by 1.5 million users on Masa's 'AI Data Chain', as well as the open-source LLM facilities that are ready to use. This will allow AI developers, node operators, and users to benefit from the value created by decentralized AI.

According to PANews, blockchain data reveals that Justin Sun has recently purchased an additional 21,547 Ethereum (ETH) coins, valued at approximately $67.5 million. Since April 8, Sun has accumulated a total of 176,117 Ethereum coins, with his total investment reaching $559.7 million. The average purchase price per coin stands at $3,172.

According to Foresight News, Aimie Killeen is set to join the Digital Currency Group (DCG) as Chief Legal Officer on May 1. She will be responsible for international legal business, mergers and acquisitions, compliance, and governance.

Previously, Killeen served as the Chief Legal Officer for Billtrust, a financial and digital payment company supported by AI. She also held the position of Executive Vice President and General Legal Counsel at Cardtronics, a global financial services technology and transaction processing company.

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.

According to Foresight News, Injective has announced its integration with Layer1 network XION. This move brings XION's chain abstraction into the Injective ecosystem. The integration is expected to enhance the functionality and performance of the Injective ecosystem by leveraging the capabilities of the XION network.

According to CryptoPotato, Ethereum's price has been experiencing increased selling activity after a period of consolidation and corrective movements, leading to a slight decline toward the 100-day moving average. The key question is whether Ethereum sellers will manage to break below this significant moving average.

A detailed analysis of the daily chart reveals that following an extended phase of corrective retracements, with the price testing the critical resistance region of $3.2K, the market experienced heightened selling pressure, resulting in a slight downturn. Consequently, the Ethereum price is now testing a crucial support level marked by the 100-day moving average at $3086. This range holds significance as it typically attracts considerable demand, potentially limiting further downward pressure from sellers. However, given the current market sentiment and recent price action, Ethereum appears to lack sufficient momentum and buying activity, increasing the likelihood of a new bearish trend in the short term.

A closer examination of the 4-hour chart reveals that following a period of sideways consolidation near the lower boundary of the wedge pattern, which aligns with the support region around $3K, the price experienced notable buying pressure, leading to a bullish reversal. This intensified demand resulted in a significant surge towards a critical resistance region, encompassing the 0.5 ($3234) and 0.618 ($3324) Fibonacci levels. However, sellers regained control and halted the upward momentum, causing a renewed bearish downturn, indicating a notable bearish sign for the market.

With Ethereum’s price failing to surpass the $3.7K level, investors may be interested in understanding the behavior of futures market traders. The 14-day moving average of the Taker Buy Sell Ratio, a metric that gauges the aggressiveness of buyers relative to sellers, has been on a sharp decline over the past few weeks. Moreover, the ratio has recently been steadily decreasing, nearing its lowest point since September 2022. This downward trend is concerning and suggests that Ethereum’s bearish trend could last in the mid-term if current conditions persist.