Author: cryptorecaps.com
Shift in fee dynamics: Ethereum overtakes Bitcoin post-Runes speculative drop. In the week preceding the much-anticipated Bitcoin halving on April 20, transaction fees for Bitcoin exceeded those of Ethereum; this trend persisted until April 27, according to Glassnode data. ETH vs BTC fees: (Source: Glassnode) CryptoSlate meticulously tracked fee trends across both blockchains before, during, and after the halving. Data unveiled a notable but temporary spike in Bitcoin fees, fueled by speculative activity surrounding Runes. However, by April 28, Ethereum fees had slightly outpaced Bitcoin, hitting $3,339 million compared to $3,315 million for Bitcoin. Bitcoin’s 7-day average fees remained elevated at around $11.8 million, according…
Institutional vs. retail: the evolving battle for Bitcoin ETF dominance. Jim Bianco, head of Bianco Research, has been a vocal critic of the Bitcoin ETFs due to their centralization concerns. Bianco recently said: “A spot ETF is NOT, repeat not, decentralized!” He also believes that the main investors in these ETFs are “Orange FOMO poker chips for paper-handed small-time traders (degens).” Despite Bitcoin trading at roughly $63,000 as of press time — up from $49,000 at the ETF launch — Bianco believes these holders are sitting close to breaking even and could become big sellers if the flagship crypto’s value enters a downtrend.…
The SEC in March 2023 launched its formal investigation into ether, lawyers from Consensys allege in new, unredacted complaint. The US Securities and Exchange Commission has been investigating ethereum and its potential status as a security for over a year, new court filings Monday reveal. Consensys, which filed its lawsuit against the SEC last week, alleges the SEC has been quietly building its case against ether since at least early 2023 in a plan to reverse its previous public assertion that the asset is a commodity. The crypto firm claims that SEC director of the division of enforcement Gurbir Grewal…
A solo bitcoin miner beat the odds — around 1 in 5,000 — to solve a block and take home the total subsidy and transaction fee reward. The bitcoin miner earned $218,544 for mining block 841,286 using CKpool in a solo mining configuration. A solo bitcoin miner beat the odds to solve a block and take home the full subsidy and transaction fee reward late Sunday. The miner collected 3.433 ($218,544) for mining block 841,286, using solo bitcoin-mining software from CKpool, according to the Bitcoin explorer Mempool. This comprised 3.125 BTC in block subsidy rewards ($198,937) and 0.308 BTC ($19,607)…
Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin ETFs by the end of 2024. Issuers including VanEck, BetaShares, and DigitalX have already filed applications for such ETFs earlier in the year. Australian investors have been trading spot bitcoin ETFs since 2022, currently listed on CBOE Australia Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin exchange-traded funds by the end of 2024, according to Bloomberg. Its report, citing sources familiar with the matter, noted that several issuers, including VanEck and local firms BetaShares and DigitalX, have already submitted their…
Morpheus Labs recently announced that you can now stake your $MIND tokens. This should grow the ML SEED ecosystem. There’s a dedicated staking website available. At the same time, on 26th April, a quiz will go live, where you can earn free $MIND. This is the right time to be active in the Morpheus Labs ecosystem. So, let’s take a closer look at the new staking options by Morpheus Labs and their quiz. What Is Morpheus Labs? Morpheus Labs has all the tools to help Web2 companies transition into Web3. Many firms want to transition but lack the know-how or…
Crypto expert Peter Brandt has boldly claimed that the Bitcoin top for this market cycle may already be in. He made this conclusion based on his “exponential decay” thesis, which he noted may actually be good for the Bitcoin ecosystem. Why Bitcoin’s Price Has Topped Brandt explained that historical data suggests that Bitcoin’s price has topped. He further alluded to an “exponential decay,” which he noted could be used to describe Bitcoin. Brandt’s exponential decay thesis is based on the fact that Bitcoin’s percentage gain has significantly reduced in every subsequent bull cycle. Related Reading: Ethereum Withdrawals From Exchanges Top 260,000 ETH – What This…
According to the latest on-chain revelation, the Bitcoin network has been experiencing a steady decline in high-value transactions over the last few weeks. This sluggish activity has been mirrored by the price of the premier cryptocurrency, which has struggled to break out of consolidation throughout the month of April. In the past week, the Bitcoin price struggled to hold above $67,000 despite touching the level multiple times. The price of BTC has since been in a tumble and is down by more than 2% in the last seven days, according to data from CoinGecko. Interestingly, the recent on-chain data suggests that this…
The Bitcoin network has witnessed a surge in trading activity in the days after the halving, as shown by on-chain data. Although the just concluded halving brought a lot of attention to Bitcoin, the recent surge in trading activity can be attributed to something else. According to data from on-chain analytics platform IntoTheBlock, the number of daily BTC transactions has grown rapidly in the past few days to reach a new high of 927,000 thanks to a new token standard called Runes. Related Reading: Analysts Call It: XRP Primed For A 700% Surge – Details Bitcoin Daily Transactions Reach New All-Time High Bitcoin’s price has been skyrocketing since…
One of the issuers waived management fees for the first six months, undercutting rival offerings. Hong Kong regulators approved ETFs by Harvest Global Investments, China Asset Management and a jointly managed product of Bosera Asset Management and HashKey Capital. The products could start trading on April 30, Bloomberg reported Management fees of the ETFs are lower than previously thought, one analyst noted Hong Kong’s market regulator has officially approved the first batch of crypto-related spot exchange-traded funds (ETFs), a first for the city and a move that could establish it as Asia’s leading digital-asset hub and unleash further growth in…