Tortola, British Virgin Islands, April 23rd, 2024, Chainwire

Galactix.io is thrilled to announce the pre-registration launch of its revolutionary online platform, blending the thrill of casino classics and narrative-driven exploration with the cutting-edge world of cryptocurrency. Fully licensed and certified by gaming regulatory authorities, Galactix is set to redefine the online casino experience in Q2, 2024.

Elevate The User Gaming Experience

Galactix distinguishes itself from traditional online casinos by prioritizing captivating game narratives. Players can look forward to an immersive journey through cosmic adventures, where conquering galaxies and exploring new worlds leads to substantial rewards. With more than 3,000 classic and innovative casino games, Galactix promises top-notch graphics and seamless gameplay for all levels of gamers.

Features and Benefits:

Narrative-Driven Exploration: Users can unlock treasures and customize their adventure, showcasing their triumphs across the Galactix universe.

Generous Rewards System: Offering up to 70% back to players through cash incentives, specialized tokens, and exclusive VIP perks.

Native Token: Galactix is proud to announce the launch of its native token, GLX, featuring unique tokenomics and a deflationary strategy. GLX is set to trade on public markets in the near future.

Dividends & Passive Income: GLX holders can potentially participate in dividends and potentially earn passive income, marking a pioneering approach in the gaming industry.

Unparalleled VIP Program: A multi-level VIP Program rewards the most dedicated players with unmatched benefits.

About Galactix

With over 30,000 sign-ups already, the Galactix community is rapidly growing. Users can pre-register to receive a free sign-up bonus and the chance to participate in a $25K referral competition. Galactix invites users to be part of the future of online gaming.

For more information and to join the pre-registration, users can visit Galactix.io.

Follow Glactix socials to keep up to date with latest news, updates, announcements!

Telegram l X l Instagram l YouTube

Contact

Chief Marketing Officer
Fay Louise Hayden
Galactix
fay@galactix.io

This article was paid for*

eTukTuk (TUK), a new crypto project that combines blockchain technology with AI and electric vehicles, announced the launch of its new game, Tuktuk Crazy Taxi.

The game emerged on the Google Play Store last week, on April 18, while the App Store launch followed three days later, on April 21.

EXCITING ANNOUNCEMENT

We are thrilled to announce that our awaited game, Crazy Tuk Tuk taxi is now also available on the App store

Complete quests, earn rewards and compete in thrilling races

Download now:https://t.co/E2rb7J8r2e pic.twitter.com/XXgV8Wgz0Y

— eTukTuk (@eTukTukio) April 21, 2024

Newest Play To Earn Crypto Game

Tuktuk Crazy Taxi allows players to drive a Tuk Tuk through the busy streets of Sri Lanka, complete quests, compete in races and ‘earn rewards’ although not much other details have been released yet on the play to earn (P2E) crypto game.

What we know so far is that the game is free to download and play and already has over 100 downloads from Google Play. On the App Store, the download data is not yet available, which is not surprising, considering that the game was just listed.

Tuktuk Crazy Taxi offers simple yet fun gameplay where users can pick up and drop off customers, and the faster they drive, the more they earn in rewards. The project also allows users to upgrade their eTukTuks, unlock new cities, and more.

What is eTukTuk About?

eTukTuk is a new project that has started a sustainable transport revolution by creating an AI-powered sustainable transport solution meant to revolutionize transportation. It will first target developing nations, with plans to distribute its solution worldwide further down the line.

Its product, eTukTuk, will contribute to reducing the global carbon footprint and minimizing pollution. Other benefits include AI-driven efficiency, eco-friendly innovations, smart infrastructure, and predictive maintenance, where AI integration schedules interventions for prolonged vehicle life.

AI can also optimize routes for reduced traffic, minimal fuel consumption, and promotion of sustainable transport. 

To achieve this, the project has created a native cryptocurrency, TUK, which is currently in presale.

eTukTuk Crypto Presale Details

The eTukTuk presale offers the native token, TUK, which sells for $0.0305. However, the token’s price was designed to increase as the presale progresses through different stages, so purchasing it sooner means getting it at a lower price.

So far, the presale raised over $3.15 million. Those interested in purchasing the TUK token can do so with ETH, BNB, USDT, or credit/debit card.

Once purchased, the token can also be staked for over 80% annualized rewards.

"The crypto world’s appetite for sustainable projects is growing, as evidenced by the remarkable presale performance of eTukTuk (TUK)" – @itscrypto_news https://t.co/9eWYlXW2RP

— eTukTuk (@eTukTukio) April 17, 2024

This is why the token’s price could see a pump after launch, encouraging buyers to join the presale early. 

However, this is still only speculation and should not be taken as a guarantee. In other words, anyone interested in buying the TUK token should do their research first and make their own decision about whether or not to invest.

The presale was also mentioned by famous crypto experts on YouTube, such as Cryptonews, which has over 9,000 subscribers.

To quickly get new updates regarding the project and its presale, as well as any more upcoming P2E crypto games, follow eTukTuk on its social media, including X, Discord, YouTube, Telegram, and Instagram.

Visit eTukTuk.io

*Cryptonomist did not write the article or test the platform.

In a significant nod to the evolving landscape of the global financial market, the New York Stock Exchange (NYSE) is reportedly considering a monumental change in its trading hours, potentially transitioning to a continuous crypto trading framework, 24 hours a day, 7 days a week. 

This development, as highlighted by the Financial Times, could mark a transformative step in aligning traditional financial markets with the operational dynamics of cryptocurrency markets.

A survey signals a market strategy change by NYSE: towards 24/7 crypto trading

The data analysis team of the NYSE has recently issued a survey to its stakeholders, probing their opinions on whether the stock exchange should extend its trading hours to include weekends, in addition to the traditional Monday to Friday schedule.

This would be a clear departure from its current operating hours from 9:30 am to 4:00 pm ET, which have set the market pace for decades.

The continuous operation of the cryptocurrency markets offers a stark contrast to traditional stock exchanges. Crypto markets never sleep, operating 24 hours a day, 365 days a year.

This model has proven to be very successful, offering traders the flexibility to operate across different time zones without the constraints of closing bells and market downtime.

The appeal of this model is evident in the increase in retail trading activity observed during the COVID-19 pandemic, where platforms like Robinhood have capitalized on the demand for continuous trading access.

By adopting a similar model, the NYSE could position itself to meet the evolving needs and expectations of modern investors who desire greater accessibility and opportunities to interact with the market.

This shift towards a potential 24/7 trading model comes as a startup, 24 Exchange, seeks regulatory approval from the Securities and Exchange Commission (SEC) to establish the first fully operational stock exchange operating all day long. 

Supported by significant investments from Point72 Ventures, led by New York Mets owner Steven Cohen, the proposal from 24 Exchange represents a direct response to the changing operational landscape of the market. 

Despite the challenges in its initial proposal last year, the company remains committed to its vision, with the SEC currently reviewing its revised plans.

Implications for the market

The possibility of NYSE switching to a 24/7 trading program raises numerous implications for various stakeholders in the financial markets. 

For investors, especially for retail investors who have increasingly participated in stock trading, extended hours could mean more opportunities to make trading based on new information, align investments with non-traditional working hours, and react quickly to movements in international markets.

For institutional investors and global financial companies, this change could require adjustments in risk management strategies, trading algorithms, and operational logistics. 

Increased trading hours could lead to more data, requiring improved analytical tools and a more robust technological infrastructure.

The transition to a continuous trading environment is not without its challenges. One of the main concerns is the logistical and technological investment required to support extended hours. 

This includes ensuring cybersecurity, maintaining system integrity, and managing the physical and mental well-being of traders and support staff who should operate in a significantly altered trading environment.

Furthermore, there are concerns about market liquidity during peak hours. Historically, lower trading volumes outside of standard market hours have led to increased volatility and less efficient price discovery. 

These factors will need to be carefully managed to avoid creating periods during which trading could be more risky.

Looking ahead

While the NYSE contemplates this revolutionary change, the broader implications for global financial markets are profound. 

The transition to a 24/7 trading paradigm could potentially set a new standard for exchanges worldwide, challenging other major markets such as the London Stock Exchange and the Tokyo Stock Exchange to reconsider their operating hours.

The adoption of a model similar to that of cryptocurrency markets signals not only an operational but also a cultural shift, redefining what it means to participate in the global financial ecosystem. 

While the NYSE proceeds with its deliberations, the outcome could herald a new era for financial markets, characterized by unprecedented accessibility and continuous involvement in the global economy.

cLabs, a famous cryptographic developer working on the growth of the Celo blockchain project, has announced that it will use the operating framework offered by Optimism (OP Stack) to launch its own Ethereum layer-2.

Last July Celo had received the approval from its own community to migrate from an independent layer-1 to layer-2 of the second most capitalized blockchain in the world.

Now she seems almost ready to take the big step.

All the details below.

Celo’s blockchain migrates as Ethereum L2 based on the Optimism stack

The outcome of a governance proposal launched in July of last year is about to change the fate of one of the most closely watched projects in the crypto world: Celo’s L1 blockchain is planning to migrate to Ethereum’s L2 and has been working for many months to ensure that all work continues in the best possible way.

Yesterday finally cLabs, the organization that develops on Celo, has decreed that the default toolkit for building the second layer network will be the Optimism stack.

This is a well-considered decision, arrived at after an 8-month test in which the development team tested various software packages including Arbitrum orbit, Zk Stack, and Polygon CDK.

Currently, the OP stack is used by several Ethereum L2s such as OP mainnet, Base, Blast, Mantle, Zora, Manta Pacific, Metis, Mode Network, Aevo, Fraxtal, and others.

Even World Chain, the upcoming second-layer blockchain led by OpenAI founder Sam Altman, will use the Optimism package.

A very special 4th anniversary of Celo mainnet's launch! cLabs Proposes Migrating Celo to an Ethereum L2 leveraging the OP Stack.

Join the discussion on the proposal in the @celo forum and community call (May 2)!https://t.co/fjpPgVP8kT pic.twitter.com/4RGVcFSIqi

— cLabs ◘ (@cLabs) April 22, 2024

The Celo blockchain will make the first step towards the new infrastructure, called CEL2, during the summer of 2024, launching the testnet following community approval.

The features of the operating framework will significantly reduce the blocking time from 5 to 2 seconds, while simultaneously increasing the throughput of transactions by 50%.

We remember that Celo raised 30 million dollars in 2019 in a financing round led by VCs such as a16z and Polychain Capital, and then obtained another 20 million dollars in 2021.

The network currently boasts a TVL of 125 million dollars and supports many successful dapps like Uniswap and Sushiswap, as well as other native projects like Valora, Mento, and UbeSwap.

The vote for the implementation of the Optimism stack is now just a formality: once all the community calls have been held and the L2 chain launched in the summer, we could see a wave of new dapp implementations based on Ethereum.

Source: https://forum.celo.org/t/clabs-proposes-migrating-celo-to-an-ethereum-l2-leveraging-the-op-stack/7902

The unstoppable growth of the Ethereum L2 ecosystem

With the upcoming introduction of the Celo blockchain, which will be based on the Optimism stack, the world of Ethereum layer-2 solutions continues to grow day by day.

After the inauguration of the “zero knowledge proofs” technology, which marked the birth of the so-called rollups, scalability solutions on Ethereum have started to emerge like mushrooms.

Until a few months ago, there were only a few sparse rollups, among which the most important were centered around the teams of Matter Labs, ConsenSys, Polygon Labs, Off-chain Labs.

Now we can count on a variety of second layer blockchains, precisely 48 examples as reported by L2beat, for a total TVL of 39.6 billion dollars.

This is a huge figure if we consider that the TVL of the Ethereum mainnet corresponds to just over 54 billion dollars according to DefilLama.

In order to manage the liquidity fragmentation across the 48 different blockchains, projects like Omni Network have even been created to unify the use of these resources.

Source: https://l2beat.com/scaling/summary

With the introduction of the Dencun update, which greatly reduced the cost of fees on Ethereum rollups, the challenge to the scalability of the main layer has become increasingly concrete.

In some cases, the cost of gas has even been reduced by 99%, but leaving open the possibility of a return to high fees in the case of network management.

Currently, the cheapest L2s for token transfers or swaps are Arbitrum and Optimism, each requiring less than 0.01 dollars in fees, while on Ethereum the same function is performed at a much higher cost.

Source: https://l2fees.info/

By the end of the year, Celo will probably become part of the Ethereum family, with obvious advantages in terms of liquidity.

As the world’s safest EVM L2 chain, it will be able to use the stage to attract a substantial amount of new users, as well as new interesting applications.

To stand out in the midst of the competition present in this niche sector, the Celo team will likely launch an incentive campaign.

Stay tuned for future updates to find out if there will be an opportunity to qualify for an airdrop, although Celo already has a governance token, or if there will be prizes up for grabs.

Yesterday, Nadeem Anjarwalla, a former executive of the crypto exchange Binance in Nigeria who had been wanted for some time, was finally arrested. 

The local newspaper Punch reported that Anjarwalla was arrested by the Kenyan police service.

Nigeria: The story of Anjarwalla, former executive of the crypto exchange Binance

The legal troubles of Nadeem Anjarwalla begin at the end of March, when Nigeria accused Binance of tax evasion.

Anjarwalla was arrested on that occasion, but later managed to escape from custody.

Since then, his whereabouts had been lost, but yesterday he was found and stopped in Kenya, more than 3,000 kilometers away. 

Previously, the Federal Inland Revenue Service (FIRS) of Nigeria had filed four charges of tax evasion against Binance, including failure to pay value-added tax (VAT) and corporate income tax, omission of income declaration, and complicity in helping customers evade taxes through its platform. 

Furthermore, he had also accused the exchange of not registering with the FIRS itself for tax purposes.

The charges did not only concern the company itself, but also two of its top executives, Tigran Gambaryan and Nadeem Anjarwalla. Gambaryan was in charge of compliance oversight, while Anjarwalla was Binance’s regional manager for the entire Africa. 

The two were arrested, but Anjarwalla managed to escape during a escorted visit to a mosque. 

The hypothesis was that he had left the country using a different passport than the one confiscated by the Nigerian authorities, and indeed yesterday he was found in Kenya. 

The arrest

The federal government a few days ago tracked down Anjarwalla in Kenya, when his cover was blown after he arrived by plane and managed to temporarily hide.

At that point, they collaborated with local authorities to arrest him and later return him to Nigeria.

Now the International Criminal Police Organization aims to extradite him to Nigeria by the end of this week thanks to the intervention of Interpol.

The extradition is being handled by the Commission for Economic and Financial Crimes of Nigeria, the international criminal police, and the police forces of Nigeria and Kenya. According to the president of the EFCC, Ola Olukoyede, the American FBI and the government of the United Kingdom are also collaborating in the extradition.

Olukoyede also stated that currency speculation and money laundering in excess of $35 million are the basis of the five charges brought by the Commission against Binance Holdings Limited, Tigran Gambaryan, and Nadeem Anjarwalla. 

According to Sahara Reporters, however, the extradition of Anjarwalla could prove to be more challenging, as Anjarwalla has ties to influential people in Kenya. 

Other issues with Binance

After the regulatory issues in the USA, which were resolved with a plea deal, the world’s largest crypto exchange is also facing legal problems in other jurisdictions.

For example, just today it was reported that the SEC of the Philippines has asked Apple and Google to temporarily remove the Binance app from their respective app stores. 

In the official statement, the Philippine SEC states that public access to these websites or apps is considered a threat to the security of investors’ funds, adding that the sale or offer of unregistered securities and the activity of unregistered intermediaries constitutes a violation of the law.

The president of the SEC, Emilio B. Aquino, stated that the removal and blocking of Binance’s apps “will prevent further proliferation of its illegal activities in the country, and protect the investing public from its harmful effects on our economy”. 

The Philippine government agency started targeting Binance in November of last year, specifically analyzing its offering of financial instruments and investment products such as leveraged spot trading, futures contracts, options, cryptocurrency savings accounts, crypto staking services, and initial coin offerings (ICO).

However, Binance has never obtained a license from the SEC to promote investments in the country, nor to create or manage an exchange for the purchase and sale of securities. 

The agency now invites Filipino investors who invest in Binance to immediately close all their positions, or transfer their crypto funds to non-custodial wallets, or to accounts with crypto service providers duly registered in the Philippines.

This article was paid for*

The much-anticipated Bitcoin halving finally took place on April 19, 2024, causing a significant reaction among many cryptocurrencies on the market. 

The popular meme coin PEPE has begun a strong upward trend in its price since the BTC halving. On April 18, a day before the halving, PEPE closed at a price of $0.000005. 

On Apr 20, it opened at a price of $0.00000515, marking a surge of approximately 3.66%.  Over the past seven days, its price performance has been promising, showing an 18% increase.

Other than the halving, Coinbase Futures’ April 23 listing of PEPE has also contributed to its growth. The world’s second-biggest cryptocurrency exchange added a 1000PEPE-PERP pair, which is a significant move to add more liquidity to PEPE and enhance its exposure.

The latest Pepe price chart shows that PEPE has grown by 6% in the last 24 hours.

At the time of writing, the Pepe price is $0.0000068, which is again a 30% increase from before the halving event. The market cap is currently more than $2.88 billion. According to CoinMarketCap, PEPE is again the third largest meme coin in terms of market capitalization – flipping Dogwifhat today. 

$WIF has a Coinbase Futures listing on April 25 however so that may not last long.

Pepe Price Performance Last Month Was Bullish

PEPE reached its all-time high of $0.00001083 on 14 March 2024. The PEPE charts displayed a downward trend from 14 March 2024 to 19 April 2024, with strong bullish piercing candles.

Pepe Price Prediction 2024

Crypto experts predict the price of Pepe token will reach as high as $0.00000758 towards the end of April 2024. In May and June 2024, the price of PEPE is predicted to rise to $0.0000124 and $0.0000148, respectively.

One of the top crypto YouTube channels 99Bitcoins today uploaded a Pepe coin price prediction video – forecasting a new all-time high may be hit in the near future.

Should You Invest In Pepe Coin?

The BTC halving has had a tremendous effect on PEPE’s price in just three days. The price is expected to rise further. However, going by what the candles have to offer, to surpass the price of $0.00000752, a strong green candle has to appear to touch the price mark of $0.00000666. So far, the upward trend has no presence of a red candle, which is a good sign for a consistent upward trend.

For intra-day traders, the bullish rise in PEPE’s price presents a good opportunity for short-term gains. However, for long-term investments, PEPE may not be quite a good immediate option as the price movement highly depends on buyers’ behavior. Though the candles show an upward trend, the short green candles suggest low volumes of trades. 

Investors could opt for a dollar cost averaging (DCA) plan however it is crucial to note here that for the top meme coin’s price to reach a new all-time high price, the previous resistance line of $0.00000997 has to be broken.

Dogeverse – Next Top Meme Coin Among The Low Caps?

Dogeverse, a multi-chain token, is new upcoming meme coin we reviewed previously here.

The 99Bitcoins channel also reviewed Dogeverse alongside Pepe in a previous video.

Dogevese aims to provides more utility than PEPE as the first Doge meme token to be launched on six different blockchains: Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base. 

Dogeverse was initially minted on the Ethereum network, which is easily accessible for crypto traders across the world to access its presale. 

Solana and Polygon then make it highly affordable, Base provides an even higher level of versatility to this token, Avalanche adds scalability, while the BNB chain again helps avoid gas fees.

Its presence in six different blockchains could open up future avenues for building new and innovative coin utilities. Hence, it has the potential to become the first interoperable meme coin.

Its future prospects seem to have made it a favorite choice amongst both Degens and prudent investors, given the rapid pace at which the presale is selling out.

So far, Dogeverse has successfully raised more than $9 million in its presale. At present, the token is valued at a nominal price of $0.000301. 

The presale’s current stage closes in less than 48 hours. Those who are interested in this new multi-chain meme can find the whitepaper at thedogeverse.com.

Visit Dogeverse

*Cryptonomist did not write the article or test the platform.

SPONSORED POST*

Introduction to Cryptocurrency

Besides the obvious fact that cryptocurrency is an abstract or virtual form of money that is secured by cryptography, one can assuredly state that if someone ever endeavoured to counterfeit or double-spend cryptocurrency, it would be impossible for him/her to do so. The process commenced with Satoshi Nakamoto, who created Bitcoin in 2009 and, as many believe, is an anonymous person or group. After that, the biggest disruption to the existing financial system has undoubtedly been the growing adoption of cryptocurrency the inventory of which could grow up to dozens and tens of such virtual currencies, from Ethereum, Ripple, Litecoin, and more.

History and Milestones

The history of cryptocurrency is marked by significant milestones. Bitcoin’s whitepaper, published in 2008, laid the foundation for decentralized digital currency. The first Bitcoin transaction took place in 2010 when Laszlo Hanyecz purchased two pizzas for 10,000 Bitcoins, highlighting its early adoption as a medium of exchange. Over the years, cryptocurrencies saw explosive growth, with Bitcoin reaching an all-time high price of nearly $70,000 in 2021.

Impact on Businesses

There is no question in the fact that cryptocurrency has made huge changes in the world of businesses. At the first stage of development, and unless all the major companies stepped out, cryptocurrencies were left on scepticism by major companies such as Tesla, PayPal, and Square. The firms have since realized the need and importance of allowing customers to transact in cryptocurrencies. Such associations have widened the universe of international payments reducing transaction rates and pushing the speed limits. Of note, this contributes immensely to curbing the menace of embezzlement that was rampant before the coming into existence of crypto coins.

Emergence in Payments and Technology

The cryptocurrencies have proved to be just as legitimate and transparent as traditional payment technologies. Blockchain technology, a technology that is the foundation of cryptocurrencies, is a way of having safe and transparent transactions. The revolution that has been brought about by distributed ledger technology such as the Ethereum blockchain based on smart contracts, automating the process and removing the need for intermediaries is indisputable.

Market Penetration 

Cryptocurrency, digital currency, is used a lot in online gambling and markets. Today, many online gambling sites allow cryptocurrency, the seemingly anonymous and usually attribute no withdrawal or transaction fees, and the fastest payout, which is processed within minutes to a few hours. This integration has pushed for the rise of online crypto-gambling platforms where users can play their games safely via a decentralized and safe environment.

Online Retail

Bitcoin and Ethereum are quite popular for global online retail payment since they serve as a medium for the purchase of goods online. It exploited for Top Online Casinos in the past decade.

Financial Services

Ripple (XRP) is a universal payment option for cross-border payments. It allows banks and financial institutions to complete financial transactions faster and cheaper in any location on the globe.

Gaming and Entertainment

Enjin Coin (ENJ) participates in the gaming environment and stabilises its position through gaming platforms which allow users to securely and efficiently trade virtual assets.

Real Estate

Through the use of Propy, which utilizes the blockchain for real estate operations as an additional tool for enhancing transparency and streamlining documentation, the platform addresses one of the most persistent challenges.

Supply Chain Management

Unlike VeChain used in supply chain tracking that verifies products’ genuineness and quality, VET is just a Cryptocurrency that receives frequent updates.

Healthcare

Via a blockchain-based reward system, Dentacoin (DCN) motivates patients to attend dental care appointments; the trade mark feature is its selection of certain healthcare populations such as students.

Energy

Power Ledger (POWR) facilitates peer-to-peer trading of renewable energy that belongs directly to consumers, which allows them to exchange it with each other on their terms.

Emerging Markets

DASH (DASH) will cover countries for hyperinflation of the local currency and is now used publicly for consumer transactions with more stable financial assets.

The Slowdown in the Cryptocurrency Revolution

While cryptocurrency has started with a lot of achievements as well as a warm reception, there are some of its drawbacks, which is a clear indication that the cryptocurrency revolution is reaching a cooling down point. Besides, several difficulties that slow it down are raised related to regulation, volatility and scalability, and environmental issues, namely the power of the mining activity. This scenario has provoked apprehensions among investors, as well as authoritative scrutiny, and as a result, the growth and people’s use of cryptocurrency have stalled.

Here are the current values of some top cryptocurrencies against the USD:

Bitcoin (BTC): Approximately $43,000

Ethereum (ETH): Approximately $3,000

Binance Coin (BNB): Approximately $400

Cardano (ADA): Approximately $1.30

Cryptocurrency values are subject to constant fluctuations due to market dynamics, investor sentiment, and technological developments. Past figures show significant volatility, with Bitcoin reaching highs of over $60,000 and lows below $30,000 within short periods.

Future predictions for cryptocurrencies are diverse, with bullish and bearish outlooks depending on factors like regulatory developments, adoption rates, and macroeconomic conditions. Some experts predict continued growth and mainstream acceptance, while others caution about potential regulatory challenges and market corrections.

Bitcoin, as the pioneer cryptocurrency, often sets the tone for the market. Ethereum, with its smart contract capabilities and ongoing upgrades like Ethereum 2.0, remains a key player in decentralized applications. Binance Coin’s utility within the Binance ecosystem contributes to its value, while Cardano’s focus on scalability and sustainability attracts investor interest.

Investors and enthusiasts closely monitor these cryptocurrencies for trends and developments that could influence their value and future trajectories in the dynamic crypto market.

Conclusion

Cryptocurrency has already gone through a long way of development, proving itself as a new digital payment method, as well as transforming technology and financial markets simultaneously. Nevertheless, these issues include rulemaking as a barrier and the environmental damages associated with it cannot permit the advancement of this sector. The emerging technology of cryptocurrency is going through a period of difficulty now, but progressive advancements could be the key to its future pandemic.

*This article was paid for. Cryptonomist did not write the article or test the platform.

In Switzerland, a new popular initiative aims to amend the Constitution to introduce Bitcoin among the reserves of the Central Bank. 

Switzerland: the initiative to include Bitcoin among the reserves of the Central Bank

A group of Bitcoin supporters, led by Yves Bennaim, has proposed a new popular initiative that aims to introduce Bitcoin into the reserves of the Swiss National Bank.

NEW: Swiss #Bitcoin advocates are petitioning for a referendum to get the Swiss National Bank to hold #Bitcoin in its reserves, ensuring "sovereignty and neutrality" according to campaign leader Yves Bennaïm

They need over 100K signatures to trigger the vote. pic.twitter.com/QxM4SdBL0s

— Bitcoin News (@BitcoinNewsCom) April 22, 2024

“NEWS: Swiss supporters of #Bitcoin are launching a petition for a referendum so that the Swiss National Bank holds #Bitcoin in its reserves, ensuring ‘sovereignty and neutrality,’ according to campaign leader Yves Bennaïm. They need over 100,000 signatures to trigger the vote.”

Basically, in Switzerland, the popular initiative is a tool provided for by the system through which signatures are collected through a committee on issues related to the economic, political, and social life of the country, and then deposited and transmitted to Parliament.

It is, therefore, a real petition that, if the legislative body were to approve it, would give rise to a popular referendum. 

And in fact, this process would directly modify the Swiss Constitution, thus inserting Bitcoin as the monetary reserve of the Swiss National Bank.

Switzerland: who is behind the initiative of Bitcoin as the National Bank’s monetary reserve

As anticipated, the leader of the campaign is the Bitcoin expert, Yves Bennaim, member of the Bitcoin Association Switzerland trade association, as well as a technology communicator and enthusiast of everything related to innovation. 

In this regard, Bennaim commented as follows:

“We are finalizing the organizational preparations for the committee and drafting the documents to be submitted to the Federal Chancellery to start the process”

Not only that, supporting the new popular initiative of Bitcoin as the monetary reserve of the Swiss National Bank is also Luzius Meisser, president of Bitcoin Suisse. 

From what has emerged, Meisser will bring this issue directly to the meeting of the Swiss National Bank next Friday.

Amending the Swiss Constitution to become increasingly neutral

Going into more detail, the new popular initiative signed by Yves Bennaim aims to modify the Swiss Constitution, in particular article 99 which reads as follows:

“The national bank constitutes sufficient monetary reserves by drawing on its earnings; part of these reserves is in gold”.

With this wording, the petition wants simply two words added: “and Bitcoin”.

If the popular initiative were to be accepted and transformed into reality, the Swiss National Bank will be forced to hold not only gold reserves in its vaults, but also Bitcoin.

Looking at the possible effects that would be obtained with the insertion of Bitcoin as a monetary reserve of the Swiss National Bank, first of all there is a greater strengthening of the country’s neutrality. 

And in fact, by including BTC, the Swiss National Bank would experience a further distancing from the monetary policy of the European Central Bank (or ECB), making itself more and more an independent monetary institution. 

Not only that, for the same Bitcoin (BTC), becoming a reserve of a Central Bank would mean recording an increase in demand and therefore a possible increase in its price. 

Swiss love for BTC

Yves Bennaim’s proposal in Switzerland comes just a few days after the long-awaited fourth Bitcoin halving and, over a month after BTC reached its new all-time high above $73,000.

Not only that, this initiative adds to the other Swiss initiatives that are increasingly open to Bitcoin and the crypto sector. 

Recently, PostFinance has offered for its users who invest at least $100 in one of the 11 cryptocurrencies it offers, the opportunity to win one of the three bitcoins up for grabs by April 30, 2024.

Not only, in February, always PostFinance together with Sygnum Bank, launched a crypto custody offer for 2.5 million customers.

The price of BTC

At the time of writing, BTC is worth $66,168 and holds a total market capitalization of $1.3 trillion. 

Considering that Bitcoin’s halving was executed just three days ago, the trend of the last week seems quite positive. In fact, currently the price of BTC is up by +5% compared to last week. 

Expanding the chart of BTC price in the last month, the last week of BTC halving was the worst. The minimum price of bitcoin for the month reached $60,000 on April 18, two days before the halving. 

On the contrary, on April 8th, BTC reached its monthly high, at a price of over $72,000. 

Looking at the situation of Bitcoin spot ETF during this halving week, it seems that on Friday and yesterday, positive inflows were recorded, after five consecutive days of outflows.

Omni Network, a crypto project aiming to unify the world of Ethereum’s layer-2 rollup solutions, has just launched on mainnet on Arbitrum and Optimism.

One week after the launch of the OMNI crypto, an ERC-20 governance token distributed through airdrop to early users of the community in the middle of the “Genesis Drop”, the Omni network can begin the path of unifying liquidity on Ethereum by positioning itself as the first blockchain powered by restaking.

Let’s see all the details below.

Omni Network lands on mainnet on Arbitrum and Optimism and begins its journey into the world of Ethereum crypto rollups

Omni Network, a well-known cryptographic project whose purpose is to connect the various Ethereum rollups through a highly interoperable infrastructure, has landed today on Arbitrum and Optimism.

The Omni Foundation, an organization that supports the growth and development of the Omni network and its ecosystem, has revealed it, providing a solution to communicate with each other securely, cost-effectively, and at scale.

Omni, protected by EigenLayer’s restaking and compatible with the entire rollup universe, represents the first blockchain capable of offering developers the possibility to create decentralized applications that leverage the unified liquidity of the Ethereum universe.

From today, these will be able to take advantage of all the resources within the two largest networks optimistic rollup, with new integrations expected soon, paving the way for an era of maximum connectivity.

Before being able to actually interact with Arbitrum and Optimism, the Omni testnet has processed over 7,500,000 transactions and has seen the participation of over 400,000 users.

Furthermore, in the last month, in preparation for the mainnet launch, the project has received commitments from EigenLayer restakers for over 1 billion dollars, and is now ready to unite the fragmented L2 ecosystem on Ethereum.

Currently, several EigenLayer node operators support Omni: Eigenyields, P2P.org, Renzo (Luganodes), Arthapala, Galaxy, CoinSummer Labs, Altlayer, Kiln, Dashmaster, and many others.

Austin King, CEO of Omni Labs, an organization that contributes to the development of Omni Network, commented on the latest achievements reached by his team with these words:

“We have been developing Omni from scratch for over two years with a unique infrastructure that offers unparalleled functionality to the Ethereum ecosystem. Before Omni, there was no simple way to connect the numerous Layer 2 rollups, which was a barrier to the network’s growth. Omni Network tackles this problem head-on and is reshaping the Ethereum ecosystem, while also setting a precedent for a completely new type of DeFi applications.”

Just a week ago, to kick off Omni’s journey towards the Ethereum rollup unification process, the crypto OMNI was launched, the project’s governance token, through an event called “Genesis Drop“.

The Omni community, the top restakers of EigenLayer, and some NFT holders have been rewarded with 3,000,000 tokens through an airdrop.

Meanwhile, a successful LaunchPool on Binance has also taken place, where 10 billion dollars were raised from exchange users who locked their resources in staking to host the listing of OMNI.

Analysis of the OMNI token after the airdrop to the community

The launch of the OMNI crypto as an ERC-20 governance token on Ethereum for coordinating the Omni Network community, followed the classic price trend typical of listings accompanied by airdrops.

Indeed, after a strongly positive initial candle on Wednesday, April 17th, the currency began a phase of contraction that brought it to just a few hours from launch to record a 25% drop, quickly going from 32 to 24 dollars.

The descent was then followed by a timid hint of a bullish restart, immediately blocked on Sunday, April 21st in conjunction with the $30 resistance.

Now the price action seems to be heading towards finding a low lower than the $22 one, waiting for demand to make itself felt again.

Probably we still have a few days/weeks of distribution and sideways movement before the trend can reverse.

Unfortunately, cryptocurrencies like OMNI often suffer from the selling pressure of airdrop hunters, who tend to aim to liquidate instantly what they have earned from farming activities.

It is worth noting how the timing of the listing of the coin was not entirely successful, as it came in the midst of a general market dump that affected traders’ risk appetite.

Looking more closely at the tokenomics of OMNI, however, we can see how the weight of the airdrop overall is not extremely relevant (3% of the total supply).

What is really scary is the large portion of allocation intended for investors and core contributors: even though they are locked in vesting, these resources account for 45.4% of the total supply and will definitely have a negative impact in the long run.

In short, being Omi Network an absolutely innovative project that introduces for the first time in the history of Ethereum a new way of conceiving the liquidity of rollups, we expect a resurgence as soon as the minimum is definitively established in the coming weeks.

SPONSORED POST*

TLDR:

Veteran trader Anthony Scaramucci has set a timeline for Bitcoin to increase by 219%.

The analysis shared by Tara shows that Ethereum is ready for a rebound after bottoming at $2,960.

NuggetRush is primed for a rally to $0.10 as it prepares for its airdrop and listing on Uniswap. 

Though Bitcoin is still trying to recover from the recent crypto crash, veteran trader Anthon Scaramucci, has offered a very bullish prediction for BTC. Scaramucci believes that Bitcoin could reach over 200% in the next year.

The same bullish idea was shared about Ethereum by the famous crypto trader Tara. Tara opined that ETH is poised for a bounce after testing the support at $2,960. In the meantime, NuggetRush is one of the best gaming tokens to buy today, as the airdrop and listing could shoot its value up to $0.10.

>> Buy NuggetRush Now <<

Listing and Airdrop To Fuel NuggetRush (NUGX) To $0.10

While the crypto market waits for a recovery, the NuggetRush (NUGX) community is riding on the recent listing of its native NUGX tokens on the Uniswap DEX, and is anticipating its airdrop. In just a few days, the NUGX token airdropped to people who invested in the early days of its crypto ICO.

Owing to the events occurring immediately after the Bitcoin halving, investors are positive that these events will instigate a rally from the initial listing price of $0.020 to $0.10. The unique NuggetRush gaming ecosystem is another reason for the bullish sentiment.

NuggetRush is a hybrid GameFi ecosystem, combining elements of P2E gaming with artisanal mining, NFTs, staking, and meme culture. Within the game, players will go on exciting mining adventures. As they strategically build and expand their mining operations, players stand a great chance of finding gold, precious minerals, and trending NFTs in the virtual world.

All these rewards can be converted to real cash in the marketplace of NuggetRush. Players who are lucky to find the rare RUSHGEM NFTs can convert them to real physical gold assets. These earning opportunities are why NuggetRush is now considered the best DeFi crypto to buy now.

>> Buy NuggetRush Now <<

Bitcoin (BTC) To Record a 219% Price Pump in the Next 12 Months

While all attention has been drawn towards the upcoming Bitcoin halving, Anthony Scaramucci has shared a long-term prediction for the leading crypto asset. Based on the latest analysis shared by the veteran trader, the price of Bitcoin is poised to increase by 219% over the next 12 months. 

In the next year, the value of Bitcoin could go up to $200,000, according to Scaramucci. The hedge fund veteran provided that the ongoing adoption will push the BTC price higher. This forecast comes when Bitcoin is still one of the top cryptos to buy, despite a market crash that has pushed BTC down to the $64,000 area.

Tara Predicts Price Surge for Ethereum (ETH) After Testing Support Level

Just like Scaramucci, the crypto analyst Tara has very bullish predictions for Ethereum (ETH). Tara, in her analysis on X, said that Ethereum is ready for a big recovery after testing the previous target low at the price of $2,960.

As the altcoin price hit the $3,100 level, Tara clarified that the correction of ETH is complete. This idea could be supported by CryptoQuant data that indicates that Ethereum’s Open Interest is so close to a reversal of its bearish trend. In such an event, ETH will be aiming to target the resistance of $4,000 and then continue the uptrend.

Closing Thoughts

The latest predictions from Tara and Scaramucci for Ethereum and Bitcoin, respectively, add to the growing bullish sentiment in the crypto market. While these top crypto coins are set for major gains, NuggetRush is in a prime position to outperform the market as it gains prominence in the GameFi space.

Visit the NuggetRush Website

 *This article was paid for. Cryptonomist did not write the article or test the platform.

Latest news: the amounts in Bitcoin (BTC) and Bitcoin Cash (BCH) that will be returned to Mt. Gox creditors have finally been disclosed. 

By logging in to claims.mtgox.com, creditors who have registered and completed the refund request procedure can now see the amounts that will be refunded to them.

Mt. Gox Bitcoins: latest news 

Mt.Gox was the main exchange of Bitcoin in the world in 2014 when it closed its doors due to a theft and failed.

Despite the sensational theft, he still had many BTC in his wallet, and with the 2017 fork he also received an equal number of BCH. 

Overall, the bankrupt company still has about 141,000 BTC in its treasury, which is slightly less than half of what the Grayscale ETF (GBTC) still owns.

Now the Bitcoins held by Mt. Gox will be returned to the creditors, although it is not yet clear when, and they in turn may also decide to sell them.

However, it is not at all certain that they will sell them. 

The revaluation of Mt. Gox’s BTC

When the Japanese exchange closed in February 2014, theoretically there were more than 141,000 BTC belonging to its users that it should have held. 

He then declared that he had lost 750,000 BTC of his clients and about 100,000 of his own.

The remaining 141,000 BTC were worth about $112 million on the day of closure, but today they are worth much more: almost $9.4 billion. In other words, in just over ten years they have appreciated by 8,300%. 

When it declared bankruptcy, the market value of all the BTC of Mt.Gox users, including those stolen, had fallen below 500 million dollars, due to the drop in the price of Bitcoin following the closure of the exchange. Mt. Gox suspended withdrawals on February 7, 2014, and two weeks later declared bankruptcy.

Therefore, the current market value of the remaining 141,000 BTC is higher, by far, than the value that all the Bitcoins owned by its users had at the time of the exchange’s closure, including those that had actually been stolen. 

This means that, although not receiving back all the BTC they were supposed to have on the exchange, former Mt. Gox users will receive in exchange a sum in Bitcoin of higher value than what they had deposited on the exchange at the time of withdrawal closure, if calculated in fiat currency.

Actually, despite receiving a number of BTC lower by more than 80% than what they were supposed to have on the exchange at the time, the market value in fiat currency of the refund will still be approximately 2,000% higher.

Instead, if they had received back the same number of BTC they had in deposit at the exchange at the time of closure, the profit would have been 8,300%.

The sale of Mt. Gox’s BTC

Now the question is: will the creditors who receive the refunds sell the Bitcoin they will cash in this way? 

Another important element must be added to this reasoning. 

In addition to BTC, former Mt.Gox users will also receive an equal number of BCH, or almost.

It should be remembered, however, that the current price of BCH is much lower, around $500, and the eventual sale of all the BCH they will receive will not be nearly enough to recover the fiat value of the capital lost in February 2014 with the closure of the exchange. 

So whoever wants to at least recover the capital lost in that way will have to sell all the BCH they receive, and at least 5% of the BTC. 

If everyone did this, and only this, a total of 7,000 BTC would be sold, for example the same amount that Grayscale’s ETF sold on March 4th. The difference is that the day before GBTC had sold another 9,600, while it is not certain that Mt.Gox creditors will sell more.

The point is that, on one hand, someone might want to sell everything ten years later to monetize the gains, while on the other hand many others might want to continue holding BTC in the hope of earning even more in the future. 

In other words, those who unexpectedly receive a sum of money and do not need to convert it into fiat currency may decide to keep it in BTC, hoping to continue earning in this way, while those who prefer to cash out in fiat currency may decide to sell it.

However, it should be noted that those who wanted to receive fiat currency as a refund from Mt.Gox could request it explicitly, and apparently the bankruptcy trustee has already disbursed refunds in fiat. So creditors who are still waiting to be reimbursed in BTC and BCH may not have a particular interest in receiving fiat currency at this time. 

It should be noted that from January 11th until today, Grayscale’s ETF has liquidated more than 310,000 BTC, which ultimately have all ended up increasing the reserves of the other two main Bitcoin ETFs, BlackRock’s IBIT and Fidelity’s FBTC. 

During this period of Bitcoin halving, all eyes are on the flows and prices related to it. In the case of Bitcoin spot ETFs, it seems that the five consecutive days of outflows have ended, with the return of positive inflows. The latest data from yesterday shows inflows equivalent to $62.2 million.

Bitcoin spot ETF: inflow turns positive at $62.2 million after halving

It seems that the Bitcoin halving event is changing a general negative trend on inflows of Bitcoin spot ETFs, which are now capturing market BTC again. 

Yesterday the Spot #Bitcoin ETF saw a positive inflow of $62,200,000 pic.twitter.com/pvxNvcT2jI

— Crypto Rover (@rovercrc) April 23, 2024

“Yesterday the #Bitcoin ETF spot recorded a positive inflow of 62,200,000 dollars”

And in fact, according to the data from Farside, it seems that yesterday, the total inflows recorded by Bitcoin ETFs were equivalent to $62.2 million.

A figure higher than the still positive inflows recorded even last Friday, April 19th, of a whopping 59.7 million dollars. 

Yet, for five consecutive days before the halving, from April 12th to April 18th, the Bitcoin spot ETF sector continued to record significant outflows. The highest was equivalent to 165 million dollars, recorded on April 17th. 

Returning to yesterday’s positive day, there is still an exchange-traded fund that seems to struggle to follow the general positive trend. This is Grayscale’s Bitcoin Trust (GBTC), which throughout the month of April continues to record outflows, struggling to maintain the 300,000 BTC.

Bitcoin spot ETFs: positive inflows after the halving and BlackRock’s continued growth

And while Grayscale continues to record continuous outflows, on the other hand there is BlackRock which seems to be registering net inflows for the 70th consecutive day. 

With yesterday’s inflow result of $19.7 million, BlackRock’s spot Bitcoin ETF – iShare Bitcoin Trust (IBIT), has entered the top 10 of exchange-traded funds with the highest daily inflow streak. 

$IBIT inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS (a streak I was equally as fascinated by) altho streak ending today would be pretty hilarious, show financial gods have sense of humor via @thetrinianalyst pic.twitter.com/niDzfaKqgp

— Eric Balchunas (@EricBalchunas) April 22, 2024

“The streak of inflows of $IBIT is currently at 69 DAYS. Just one more day and it enters the Top 10 and reaches $JETS (a streak that fascinated me in the same way) even though the streak ending today would be quite hilarious, proving that the finance gods have a sense of humor via @iltrinista”

Not only that, according to the financial institution, BlackRock’s Bitcoin spot ETF added over $600 million in assets under management on Monday, bringing its total AUM to $18.16 billion.

For Van Eck, retail investors are driving capital inflows

In a recent interview, the CEO of VanEck, Jan van Eck, stated that in his opinion, in these first months of 2024, 90% of the capital inflows of Bitcoin spot ETFs still come from retail investments.

This means that, according to Eck, institutional investors have not yet entered the market. 

In this regard, Eck also adds that to date no US bank has officially approved or allowed its financial advisors to recommend Bitcoin.

In this sense, Eck is super optimistic about the growth of this market niche, believing that from next month, there could be big news. 

The CEO of VanEck sees the possibility that Bitcoin ETFs could finally start to attract some significant institutional investments from banks and traditional companies. 

While the cryptocurrency market continues to navigate a landscape of volatility and transition, Ethereum (ETH) remains a focal point for traders and investors, its price analysis remains constant. 

With the recent price fluctuations, a detailed technical analysis provides valuable insights, especially when examining the 1-hour, 4-hour, and daily charts.

This comprehensive view provides insight into potential entry and exit points through oscillators and moving averages, guiding short-term and long-term trading strategies.

Fluctuations and opportunities in the analysis of Ethereum ETH price

The 1-hour chart of Ethereum reveals significant price fluctuations, ranging between 3,116 and 3,236 dollars. This variability signals promising opportunities for more agile traders.

A key strategy could involve buying at or near the level of $3,116, which has emerged as a reliable support. 

If the upward trends were to be confirmed, entering here and planning the exits near the resistance of $3,236 – where prices have previously reached the maximum – could optimize gains, minimizing exposure to sudden declines.

Switching to the 4-hour chart, Ethereum shows an ascending pattern, suggesting a gradual consolidation of recent gains after bouncing from the $2,864 support.

This broader perspective indicates a bullish momentum aiming for new highs. Traders are advised to monitor a strong recovery from the support level and to set stop-loss orders slightly below it to safeguard against potential declines. These strategies align with a cautiously optimistic outlook, balancing risk with the potential for profitable upward movements.

On the daily chart, the price movement of Ethereum is confined within a wider range between 2,801 and 3,730 dollars, which marks critical levels of support and resistance. An effective long-term trading strategy could involve entering near the support of 2,801 dollars, especially if a definitive bullish reversal occurs. 

On the contrary, it might be wise to set the exits near the $3,730 resistance, as this level has historically represented a significant challenge for price progression upwards, making it a strategic point to secure gains before potential pullbacks.

Analysis of oscillators and moving averages and the bullish and bearish verdicts

The price movement panorama of Ethereum is further complicated by conflicting signals from technical indicators such as the Moving Average Convergence Divergence (MACD) and momentum oscillators. The MACD presents a bearish outlook, suggesting caution, while current momentum indicators appear more bullish. 

This dichotomy requires a balanced trading approach, incorporating signals from both bearish and bullish perspectives on different timeframes to develop a nuanced and effective trading plan.

Bullish perspective:

The market positioning of Ethereum, particularly evident from the sustained lows on the 4-hour chart and positive momentum signals, indicates a bullish future. Traders should consider the opportunity to enter long positions near key support levels, taking advantage of the overall upward trajectory. 

The resistance shown at these support points, combined with potential bullish reversals on the daily chart, supports a favorable outlook for the advancement of the Ethereum price in the short term.

Bearish considerations:

Despite the optimistic indications on shorter timeframes, bearish signals such as those from the MACD and longer-term moving averages suggest caution. The resistance level of $3,730 remains a formidable barrier that has repeatedly hindered upward movements. 

Traders should beware of a potential drop from this high, which could lead to profitable short positions if Ethereum fails to overcome this critical resistance, indicating a possible price retreat.

In conclusion, while Ethereum shows potential for both gains and losses, the key to successful trading lies in a balanced and informed approach that takes into account the complex interaction of various technical indicators and market sentiments.

Camana Bay, Cayman Islands, April 22nd, 2024, Chainwire

The KARRAT Foundation is pleased to announce the launch of the KARRAT Protocol, which supports transformative AI and innovations in gaming and entertainment industries: from real-time animation content for the streaming industry and emerging products for retail, telecom, education and wherever imagination takes the community in the future. 

$KARRAT is the governance token of the KARRAT Protocol. Using $KARRAT, the community will determine how the KARRAT Protocol is integrated into games and products, empowering the community of players and consumers, much more than traditional entertainment titles have.

My Pet Hooligan is the first gaming title to integrate the KARRAT Protocol and $KARRAT

My Pet Hooligan is the first launch title for the KARRAT Protocol. The flagship IP of AMGI Studios. The My Pet Hooligan game features cutting-edge motion capture tech, AI-driven conversational non-playing characters, real-time face-driven animation in the game, and, using the KARRAT Protocol, allows players to embody an NFT in-game. My Pet Hooligan won Best Action Game at the GAM3S.GG awards in December 2023.

$KARRAT empowers community decision-making over the KARRAT Protocol.

Central to the ethos of the KARRAT Protocol is the concept of empowered community decision-making. Traditional gaming and entertainment industries have long operated within closed-off silos, leaving communities without a voice in crucial decisions. KARRAT shatters this paradigm, with cutting-edge, on-chain governance.

With KARRAT Protocol, the community takes center stage, with a governance model that fosters inclusivity, transparency, and active participation powered by $KARRAT.

Airdrop Claim for My Pet Hooligan NFT Holders.

Holders of My Pet Hooligan NFTs are eligible for a $KARRAT claim. Claims can be made on the KARRAT website.

$KARRAT is now available on Coinbase, Gate and KuCoin.

About KARRAT FOUNDATION

The KARRAT Protocol is a decentralized gaming infrastructure layer, supported by $KARRAT and empowered by a truly decentralized community with a shared vision embracing gaming, entertainment and AI products catering for the new era.

About AMGI Studios

AMGI Studios is an independent gaming and animation technology company that lives at the intersection of gaming, animated AI technology and storytelling. The studio develops and produces traditional entertainment IP, and gaming properties through the use of its proprietary technology, AI integration and innovations in real-time animation. With a high-caliber creative team composed of artists and creators from studios such as Pixar, Disney and Industrial Light & Magic (ILM), AMGI Studios aims to be the bridge between Hollywood and the global gaming community. AMGI’s vision is simple — to empower dreamers and doers to make groundbreaking content by merging artistry and technology.

Contact

Director
Matt Shaw
Karrat Foundation
tyler@karratcoin.com

The fourth Bitcoin halving happened two days ago, but there doesn’t seem to be any particular news yet about the price trend of BTC. 

Indeed, while a significant increase in the price of Bitcoin was not expected immediately after the halving, a retracement was more anticipated, which however did not occur. 

At this moment, there is no particularly interesting news regarding the post-halving. 

Latest news and recent trend after Bitcoin halving: Increase in fees

The only relevant news is the significant increase in fees, which however has already returned.

The fact is that along with the halving, the new Rune protocol was launched, which caused a very strong surge in on-chain fees in the minutes and hours immediately following the halving.

Considering the average daily transaction fees, on Saturday 20th they skyrocketed to all-time highs, reaching almost $130. 

Yesterday, however, they were already back below $35, and today they continue to fall. 

The median jumped from $9.5 on Friday to over $92 on Saturday, before dropping back down yesterday to below $20.

Currently, with about $12 you can get a simple on-chain transaction approved within two blocks, and with just under $10 you can get it approved within an hour. 

This has been the only truly relevant innovation introduced so far by the fourth halving of Bitcoin.

The problem for miners

One thing that many expected was that miners would have big problems keeping their activity going after the sudden halving of their reward. 

However, this is such a predictable event, and awaited for many months, that all the main miners surely had already developed a strategy to make up for the decrease in earnings. 

Furthermore, on Saturday, with the incredible increase in fees, they actually collected more than the day before, because if the reward decreased by 3.125 BTC per block, the collection for fees increased by more than 3.125 BTC per block on average. 

Now, however, the average fees per block are returning to normal, below 2 BTC per block, so much so that today miners are earning less than they were earning on Friday. 

Indeed, by calculating in dollars, from the approximately 70 million dollars collected overall by the miners on Friday 19th, we even reached 107 million the following day after the halving, but then yesterday it dropped to about 50 million.

Leaving aside the anomaly of Saturday, for now the daily earnings of the miners have decreased by less than 30%, although such reductions should continue today. 

Currently, however, it seems that the extraction cost for BTC is slightly above $50,000, much less than its market value. 

The overall hashrate yesterday dropped to 580 Eh/s, a value in line with that of early April, although today it should have dropped even further. The block-time has risen above 10 minutes, but for now it is still below 11. 

The price trend of Bitcoin after the news of the halving and Rune protocol

If it was taken for granted that the Bitcoin halving would not have any significant positive effect on the price of BTC in the short term, many instead expected a drop. 

On Friday the price was above $64,000, while during the day on Saturday, in the hours following the halving, it dropped to $63,000. 

However, yesterday it went back above $65,000, and today even above $66,000. 

However, these are movements that are really not very significant, since the current price is the same as at the beginning of March, and is in line with the sideways trend that started on March 15th and ended on April 12th. 

It is possible to imagine that markets were expecting a post-halving retracement for weeks, and that they discounted it in advance in the seven days leading up to the halving itself. 

Indeed, the retracement started on April 12, and ended on Friday 19, the day before the halving, brought the price of BTC below $60,000, one of the levels expected by those who were expecting a retracement. 

However, it was such a short and timid retracement that perhaps it wouldn’t even be appropriate to define it as such, so much so that it should be downgraded to a simple correction, at least for now. 

What is not at all obvious, however, is that last week’s correction has completely exhausted itself. In other words, there still seems to be room for a hypothetical further retracement, even though at this moment there are no clear signals in that direction. 

The forecasts

According to Bitget analyst Gracy Chen, this Bitcoin halving differs significantly and in several key aspects from previous halvings, due to how much the market has developed in the last cycle.

In such a scenario, it becomes much more difficult to use past analysis to make predictions for the future. 

Chen said: 

“The evolution of the regulatory landscape and technological advancements further differentiate this cycle. Additionally, favorable global economic conditions and recent spot ETFs on Bitcoin offer a better market sentiment.”

Despite this, the Bitget analyst goes so far as to predict that Bitcoin could reach a six-figure price perhaps as early as next year.

He added: 

“Looking to the future, after 2024, Bitcoin is ready to exceed $100,000, supported by strengthened regulatory frameworks, technological innovations, and favorable macroeconomic conditions.”

This article was paid for*

Solana meme coins are regaining momentum, buoyed by the SOL price recovery in the last few days. 

Indeed, Solana is back to trading at $154 at press time, up 20% from its weekly low of $128. Unsurprisingly, its Layer-2 meme coins displayed a much sharper bounce back. 

For instance, Bonk rallied close to 60% from its weekly low and is trading at $0.000021 today on Monday. Meanwhile, top SOL meme crypto Dogwifhat climbed up 36% to trade near $3 at press time. 

BREAKING: Solana Meme Coin $BONK is up 37% in the last 24 hours pic.twitter.com/gPAMYfrB42

— SolanaFloor | Powered by Step Finance (@SolanaFloor) April 21, 2024

With the cryptocurrency market steadily resuming its bullish trajectory, the spotlight is once again on low-cap meme coins. For example, the new Solana meme coin Slothana is witnessing strong hype and FOMO before its launch on April 29th. 

Experts believe $SLOTH could be the next meme crypto to deliver 100x – 1000x returns. 

Solana Meme Coins To Resume Bull Rally

Crypto prices crashed in mid-April, with meme tokens witnessing extensive losses. 

However, analysts were always confident in their recovery, The pre-halving crypto crash was largely due to macroeconomic risks and tensions in the Middle East due to the Israel-Iran conflict. 

However, with these risks now waning, crypto prices are making a V-shaped recovery. Solana is again trading above $150, with experts projecting a new all-time high to be imminent in the coming months. 

During this bull run, meme coins have been acting as leveraged bets on their respective native tokens. Consequently, the upcoming SOL price rally would likely result in Bonk, Wif and other Solana meme coins rushing towards new highs. 

For instance, popular crypto influencer and trader Ansem is bullish on Dogwifhat in the short term. He reveals that the last time $WIF followed a similar consolidatory price action for two months, it skyrocketed from $0.30 to $4.

last time $WIF consolidated in a tight price range for two months & then broke out, it ripped from $0.30 to $4 pic.twitter.com/2Q51BmPrCt

— Ansem (@blknoiz06) April 22, 2024

Similarly, Andrew Griffiths highlights that Bonk has broken out of a falling wedge in the 12-hour time frame. He expects an 80% bullish wave in the coming days. 

RadiantsDAO’s “Bonkathon”, which starts April 29th, is also expected to provide a bullish boost to the meme coin. 

Slothana – The Next 100x Crypto?

The new meme cryptocurrency Slothana is in strong demand after several experts have tipped it to be the next big Solana meme coin. 

$SLOTH has already raised over $10 million in its presale in just over a week. With the ICO set to end on April 29th, traders are expecting the hype and FOMO surrounding the new crypto to only increase. 

Meme coin enthusiasts have a new investment thesis – “If it makes me laugh, I’m buying”. 

New investment thesis:

If it makes me laugh, I'm buying.

— pixel (@spacepixel) October 25, 2023

Unsurprisingly, Slothana’s mascot has caught their imagination. This office-going Sloth has had it enough with the daily 9 to 5 grind and is looking to gain financial freedom in the world of crypto trading. 

Sloth-inspired meme coins have become the new meta after Slerf – the token which rallied 5000% in a few hours – and now Slothana is carrying forward the baton. 

Rumors are also circulating that the development team behind Smog – another popular meme coin – is also steering the Slothana project. Notably, Smog has been one of the top-performing meme tokens in this bull market, already delivering close to 27,000% gains. 

If the rumors are true, Slothana indeed could be the next 100x crypto. 

YouTubers And Crypto Influencers Bullish On Sloth

Community support is the key ingredient behind a new meme token’s success and Slothana appears to stand out in this area. 

Several crypto influencers and YouTube trading experts are optimistic regarding Sloth’s price potential. 

In a recent video, popular crypto YouTuber Michael Wrubel called Slothana his “next 100x meme coin”. Crypto influencers Jon Trading and Jacob Bury share his optimism.

Meanwhile, YouTuber ClayBro claims that $SLOTH is gearing up to be the best Solana meme coin. 

How To Buy Slothana?

Slothana has adopted Slerf’s innovative presale model, allowing investors to simply send $SOL tokens to the project wallet. 

The wallet address is EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA and is also available on the slothana.com website. 

1 $SOL will net 10,000 $SLOTH tokens for the duration of the presale and will be airdropped to the investors after the completion of the ICO.

However, traders who prefer the traditional presale model can head to the Slothana website and connect their crypto wallets. They can then swap $SOL tokens for $SLOTH. 

However as previously mentioned, the presale is set to end in less than 7 days on April 29th. Interested buyers therefore have a short window to buy this high-potential meme coin early. 

Visit Slothana Presale

*Cryptonomist did not write the article or test the platform.

Thailand is navigating the complex waters of crypto regulation, 

oscillating between promoting an environment favorable to cryptocurrencies and ensuring strong legal protections against the improper use of digital currencies. 

Crypto regulation: Thailand approves new rules

In its latest regulatory action, the Thai Securities and Exchange Commission (SEC) announced a strict measure to block local access to unauthorized cryptocurrency platforms. 

The decision was communicated following a meeting on April 19 with a government committee focused on preventing technology-related crimes.

The Thai SEC is taking a firm stance against providers of digital asset services operating without local authorization. It is now tasked with compiling and submitting a list of such entities to the Ministry of Economy and Digital Society.

Once court approval is obtained, the ministry intends to restrict access to these platforms in Thailand. This step is considered a precautionary measure to safeguard local investors and curb the criminal use of cryptocurrencies, particularly for money laundering.

The regulatory body has made available a resource – a dedicated website – where investors can verify the legality of digital asset operators.

This initiative highlights the commitment of the Thai government to transparency and investor protection in the growing sector of digital finance.

The strategy to fight money laundering 

The decision to block unauthorized platforms is part of a broader strategy to align Thailand with global efforts against money laundering. Similar actions have been taken in other Asian countries, including India and the Philippines, demonstrating a regional consensus on the need for strict supervision of cryptocurrency transactions.

Historically, the Thai SEC has shown its determination to enforce local regulations through legal actions against major cryptocurrency exchanges such as Binance and Bybit, which have been found to operate without the necessary authorizations.

These actions serve as a clear warning to investors and operators about the serious consequences of non-compliance with Thai laws.

Despite these regulatory measures, Thailand has not given up on adopting progressive measures to integrate cryptocurrencies into its financial landscape. Earlier this year, the Thai government made several positive decisions for cryptocurrencies, such as extending the 7% value-added tax exemption on gains from cryptocurrency trading. 

Furthermore, it has allowed local institutions to invest in US spot bitcoin exchange-traded funds (ETFs), marking a significant step towards the integration of cryptocurrency investments.

The balanced approach of the Thai authorities aims to promote a safe and thriving market for digital assets. By providing legal pathways for cryptocurrency operations and simultaneously cracking down on unauthorized entities, Thailand is carving out a space that encourages innovation while respecting strict anti-money laundering standards.

This strategy reflects a growing trend among nations to create a regulatory environment capable of keeping pace with the rapid evolution of cryptocurrency markets. It recognizes the potential economic benefits arising from the adoption of digital currencies and blockchain technology, while also acknowledging the imperative to mitigate associated risks.

Conclusions

While Thailand continues to refine its regulatory framework for cryptocurrencies, the focus remains on achieving a delicate balance between promoting technological progress and protecting against financial crimes. The recent measures by the Thai SEC are indicative of an evolving political landscape that seeks to harness the benefits of digital assets while ensuring a safe, compliant, and stable market.

Investors and market participants are advised to stay informed about the evolution of regulations and ensure compliance with all legal requirements. The proactive stance taken by the Thai SEC serves as a reminder of the dynamic nature of cryptocurrency regulation, where adaptability and caution remain crucial.

The ongoing developments in the Thai regulatory framework on cryptocurrencies will likely influence similar initiatives in other countries, as nations globally are grappling with the challenges and opportunities presented by digital currencies. 

Thailand’s approach provides a case study for balancing innovation with regulation, seeking to protect investors and the integrity of the financial system in the digital age.

In a significant development in the world of cryptocurrencies, the Securities and Exchange Commission (SEC) of the United States has charged Justin Sun, the well-known entrepreneur behind TRON, one of the most important blockchain networks. 

The accusation alleges that Sun engaged in the sale of unregistered securities through various offerings, an accusation that highlights the ongoing regulatory scrutiny of the cryptocurrency sector.

Justin Sun, TRON and the SEC accusations

Justin Sun is a prominent figure in the world of digital currencies, known for founding TRON in 2017. TRON aims to decentralize the Internet through blockchain technology and has been heavily marketed as a platform for the development of decentralized applications (dApps). Over the years, Sun has built a reputation as a charismatic and sometimes controversial promoter of blockchain technologies.

The SEC complaint details a series of offerings it considers unregistered securities. These include the initial coin offering (ICO) of TRON’s native token, TRX, as well as other digital assets associated with Sun and his affiliated companies. According to the SEC, these offerings did not comply with the necessary regulatory frameworks, essential to protect investors and ensure market integrity.

The center of the SEC’s accusations is the claim that Sun and his entities engaged in the marketing and sale of cryptographic assets without registering them as securities or qualifying for an exemption. The regulator argues that these actions constitute a violation of federal securities laws, aimed at ensuring market transparency and fairness.

The action against Justin Sun highlights the broader challenges that the cryptocurrency sector must face, especially regarding regulatory compliance. The SEC is increasingly vigilant in monitoring the activities of cryptocurrency-based companies, signaling a commitment to enforcing securities laws in the digital asset space.

Response from Justin Sun and TRON

This case could have significant repercussions for other cryptocurrency projects, especially those that have conducted ICOs or similar fundraising activities. It could lead to a reevaluation of the methods of token issuance and marketing, with greater attention to legal compliance and investor protection. This could lead to a change in the way companies approach token sales, potentially favoring greater stability and legitimacy in the sector.

In response to the SEC’s accusations, Justin Sun and representatives of TRON have promised to collaborate with the regulatory body and seek a solution to the accusations. Sun publicly stated that he will continue to commit to complying with regulatory guidelines and ensuring that his businesses operate within the legal frameworks established by authorities.

Despite legal challenges, TRON continues to operate and develop its network, which remains one of the most active blockchain ecosystems, particularly in the decentralized finance (DeFi) sector.

The case against Justin Sun is part of a broader story concerning the need for clearer and more consistent regulatory frameworks for cryptocurrencies. As digital assets become increasingly intertwined with traditional financial systems, there is a growing demand for comprehensive regulation that addresses the unique aspects of these technologies.

Investors and industry operators are closely following this case, which will likely influence future regulatory actions and potentially pave the way for more defined rules governing digital currencies and blockchain technologies. The outcome could serve as a precedent, guiding how regulatory agencies will handle similar cases in the future and shaping the regulatory landscape for crypto assets.

Conclusion

The SEC’s charges against Justin Sun mark a crucial moment in the ongoing dialogue between regulatory bodies and the cryptocurrency sector. For Sun, TRON, and the entire cryptocurrency community, the stakes are high, as the resolution of this case could set the operational framework for blockchain companies in the years to come.

A few days ago Cathie Wood, CEO of investment fund Ark Invest, increased her exposure to Bitcoin, Ethereum, and Tesla.

Specifically, the billionaire investor has increased the share of BTC in her own Bitcoin ETF “ARKB”, as well as purchasing ETH from the ARKW fund and various Tesla stocks.

This approach denotes Cathie Wood’s bullish position towards the cryptocurrency market and the electric vehicles sector.

Let’s see everything in detail below.

Cathie Wood adds new Bitcoin holdings to her ARKB ETF and buys Tesla shares

According to the transactions made by Ark Invest at the end of last week’s trading sessions, Cathie Wood heavily bought Bitcoin, Ethereum, and Tesla stocks, while liquidating several positions in strategic sectors of the stock market.

In detail, it is evident how the founder of the investment fund located in St. Petersburg, Florida, is increasing her exposure in some very specific sectors of the risk-on markets.

On the cryptocurrency front, we see how Wood added Bitcoin shares to his own ETF on April 18th ARK 21Shares Bitcoin (ARKB), for a total of 490,751 shares marking a significant investment of almost 30 million dollars.

This latest purchase brings ARKB to manage a total of 45,177 BTC, with a value of 2.8 billion dollars.

Meanwhile, the CEO of ARK also purchased shares of ETH, bringing a total of 42,800 shares of ProShares Ether Strategy ETF (EETH) into his ARK Next Generation Internet ETF (ARKW) fund for a value of approximately 2.83 million dollars.

At the same time ARKW also added 22,461 shares of the ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ), equivalent to a value of 834,000 dollars.

Speaking of Ethereum, we remember how earlier this year Cathie Wood herself had predicted that the second cryptocurrency by market capitalization will surpass Bitcoin in terms of performance during this bull run.

Cathie Wood expects #Ethereum will most likely outperform Bitcoin in the next Bull Run. pic.twitter.com/FEK9YAIZWo

— Crypto Rover (@rovercrc) January 15, 2024

To complete ARK’s CEO’s weekly shopping, we find the purchase of 88,720 shares of Tesla Inc (NASDAQ:TSLA), for a total of almost $13.79 million.

Even in this case, Wood has repeatedly reiterated being bullish on Tesla.

However, despite the optimism about the electric vehicle sector, following the news in which Elon Musk announced that he had cut prices for all EV models in China and all EV models except the Model 3 in the United States, the investor decided to suspend the buying phase on Friday.

$TSLA | Cathie Wood Sees Value In Tesla Wreckage As Ark Buys $13M Worth Of EV Giant's Stock, Loads Up On Bitcoin And Ethereum ETFs

Ark has been a buyer of Tesla for three straight sessions this week, buying $26.89 million worth of stock on a cumulative basis.

On Thursday, the… pic.twitter.com/Rrs7HpkVvX

— Benzinga (@Benzinga) April 19, 2024

ARK carries out several important sales sessions in the technology, pharmaceutical, and sports betting sectors, in contrast to purchases.

In particular, sales of DraftKings Inc (NASDAQ:DKNG) shares for $8.84 million, Zoom Video Communications Inc (NASDAQ:ZM) for $8.9 million, Twilio Inc (NYSE:TWLO) for $10.73 million, and 0X Genomics Inc (NASDAQ:TXG) for $3.39 million stand out.

Cathie Wood has also decreased her holdings in Exact Sciences Corp (NASDAQ:EXAS), Regeneron Pharmaceuticals Inc (NASDAQ:REGN), MercadoLibre Inc (NASDAQ:MELI), NU Holdings Ltd (NYSE:NU), StoneCo Ltd (NASDAQ:STNE), and Vertex Pharmaceuticals Inc (NASDAQ:VRTX).

Market analysis for Bitcoin: is the bull market starting again?

The increase in Cathie Wood’s exposure to Bitcoin, Ether, and Tesla highlights how the investor is extremely positive about the medium-term future of these products.

Focusing on Bitcoin, which represents the asset where ARK is most exposed and where the largest purchases have been recorded, let’s see what the graphic situation of the cryptocurrency is.

Following the heavy retracement of the past weeks that brought BTC from $72,000 down below the $60,000 threshold, we are seeing a return of demand in the market in these last days.

From Thursday onwards, just as Wood added Bitcoin quotes to his AKRB ETF, the crypto reversed its short-term course bringing it back to $66,000, where it is currently being traded.

In the coming days, the match that will actually decide which direction the market will take will be played.

If BTC manages to quickly return above $70,000 accompanied by significant volumes, we could celebrate a return to the bull market in a big way, even though at the moment it seems to be the least likely scenario.

If it were to be rejected at the current price zone, or near the $68,000 where we find an important resistance, we will have to observe how far the bears will be able to push.

If the leg down were to extend below $55,000 aggressively targeting $50,000, the chances of a bullish restart would be significantly reduced.

On the contrary, a reaction of demand in the price range between $60,000 and $58,000 could be what is needed to bring prices back to new all-time highs, ensuring at the same time a “healthy” trend that is not too extended to the upside.

Pay attention to the market volatility, particularly high in these contexts, and to fake movements that could lead us to sell in panic or buy in FOMO.

Daily chart of Bitcoin price (BTC/USD)