Bitcoin

10x Reaearch: Bitcoin may have a strong trend in April

10x Reaearch posted on social media that April is often a relatively strong month for Bitcoin. In the past ten months, six months have had positive returns, with an average return of 12%. The likelihood of another strong move in April is relatively high, especially as the first quarter tends to be challenging and most of Bitcoin's returns tend to be generated in the fourth quarter.

Bitwise CEO: Bitcoin halving in April this year may be the most influential in history

Bitwise CEO Hunter Horsley said on the X platform that the Bitcoin halving in April 2024 may be the most influential in history. The reason is that the last Bitcoin halving occurred in 2020, and the Bitcoin price was about $9,000. Therefore, in US dollars, the supply reduction was about $9 million per day, and about $3 billion per year. The Bitcoin halving is about $70,000, which will increase by more than 3 times in US dollars: about $32 million per day, and about $11 billion per year. Natural sales have been greatly reduced, while seeing growing demand.

Bitcoin mining difficulty lowered by 0.98% to 83.13T

According to BTC.com data, Bitcoin mining difficulty ushered in a mining difficulty adjustment at block height 836640. The mining difficulty was reduced by 0.98% to 83.13T. The current average computing power of the entire network is 595.44EH/s.

BlackRock CEO: Surprised by Bitcoin’s Rise

Larry Fink, co-founder, chairman and CEO of the US$10 trillion asset management company BlackRock, said in an interview that he was "pleasantly surprised" by the retail response to the company's spot Bitcoin ETF and declared that he was very optimistic about the long-term future of Bitcoin. survivability. "We would never have predicted this kind of retail demand before we submitted the application," Fink said. I’m amazed at how much Bitcoin is going up, and we’re creating a more liquid and transparent market. Additionally, IBIT is the fastest growing ETF in ETF history.

US Bitcoin miner Giga Energy to set up factory in Argentina

US Bitcoin miner Giga Energy has expanded its operations into Argentina. The company's new site utilizes methane released by burning natural gas, which Giga converts into electricity, and has already mined $200,000 to $250,000 worth of Bitcoin.

Research: Bitcoin’s volatility during the US session is greater than that during the Asian session, and the current trading focus has shifted to the United States

Research firm Kaiko said that an indicator tracking the difference between the highest and lowest price of Bitcoin every hour shows that the volatility during the US session is greater than that during the Asian session, and the focus of trading has now shifted to the US.

Ethereum

ConsenSys submits comment letter to U.S. SEC advocating approval of spot Ethereum ETF

Ethereum infrastructure provider ConsenSys has submitted a comment letter to the U.S. Securities and Exchange Commission advocating for the approval of a spot Ethereum ETF. The letter countered the SEC’s concerns about potential fraud and manipulation, as well as concerns about Ethereum’s proof-of-stake consensus design. ConsenSys emphasizes that Ethereum’s security is superior to the framework supporting existing Bitcoin ETFs. The letter highlights Ethereum’s fast block finalization, distributed verification process, high attack costs, reduced penalties, and environmental benefits. The deadline for the SEC to make a decision on VanEck’s spot Ethereum ETF application is May 23.

Vitalik: As L2 transaction costs decrease, there’s no reason why Ethereum can’t be widely adopted

Following the Ethereum Dencun upgrade and the introduction of blobs, Ethereum founder Vitalik Buterin shared his insights on the future direction of Ethereum scaling. Vitalik highlighted the shift in Ethereum scaling from foundational scaling work to centralized, incremental enhancements. Vitalik also said that developers' focus will shift to the application layer. Ethereum will maintain an L2-centric roadmap, and applications will migrate from L1 to L2 to benefit from faster, more cost-effective transactions. One of the upcoming upgrades is Data Availability Sampling (DAS), which aims to increase the data space per slot to 16 MB. Incremental scaling improvements include gradually increasing blob capacity, improving data compression, and EIP-7623 (which aims to reduce the maximum block size). Vitalik noted that with the reduction in L2 transaction costs, there is no reason why Ethereum will not be widely adopted.

U.S. lawmakers send letter to SEC chairman asking for clarification on whether Ethereum is a security

Republican members of the U.S. House of Representatives wrote to the Chairman of the SEC, requesting clarification on whether Ethereum is a security. The move comes in response to digital asset company Prometheum announcing plans to offer Ethereum custody services. Republicans worry that classifying Ethereum as a security could impact the market, noting that it could cause exchanges to stop offering Ethereum derivatives, with serious consequences for market participants. They urged the SEC to provide more clarity on the issue.

Grayscale Chief Legal Officer: SEC did not conduct in-depth discussions on Ethereum spot ETF because relevant issues have reached a consensus on Bitcoin ETF

According to news on March 26, Grayscale Chief Legal Officer Craig Salm posted on social media that there is no need for the market to criticize the Ethereum spot ETF due to the fact that the SEC has not had in-depth dialogue with issuers about the Ethereum spot ETF in May. By being pessimistic. Because Grayscale and other issuers had active and constructive conversations with the SEC months before the launch of the Bitcoin Spot ETF, details on creation/redemption procedures, cash vs. physical, AP, LP, custody, etc. have also been Reach a consensus. There is no need to discuss these issues again on the Ethereum spot ETF.

Grayscale Chief Legal Officer: Believes Ethereum spot ETF will be approved in May

According to news on March 26, despite recent news that the US SEC has “lack of contact” with applicants, Grayscale believes that the spot Ethereum ETF will be approved in May. Grayscale Chief Legal Officer Craig Salm posted on the .

other projects

Bitcoin Layer 2 project Bitlayer launches ecological incentive plan worth US$50 million

According to news on March 29, Bitlayer, a Bitcoin Layer 2 infrastructure project based on the BitVM paradigm, announced the launch of an ecological incentive plan worth US$50 million to promote the development of its mainnet ecosystem. Registration for the first phase of the incentive event called "Ready Player One" starts from 09:00 UTC on March 29, 2024, and ends at 09:00 UTC on April 29, 2024, and will be officially launched after the Bitlayer mainnet is launched. start. Specific event rules and reward distribution guidelines will be disclosed in subsequent announcements. Through a series of ecological incentive programs such as "Ready Player One", Bitlayer aims to accelerate the development of the ecosystem and incentivize projects to be deployed on the Bitlayer mainnet. In addition, Bitlayer promises comprehensive ecosystem support for all projects, including potential foundation and institutional investment, initial liquidity support, comprehensive product development resources, guidance and investment opportunities from top incubators, support from the Bitcoin community and OGs, Ecosystem collaboration and co-creation, etc.

Bitcoin L2 project BEVM goes online on mainnet

According to news on March 28, the Bitcoin Layer 2 project BEVM announced the launch of the main network on the X platform. Its mainnet is open to everyone, based on Taproot consensus to achieve complete decentralization, and uses MAST to achieve automatic signatures.

Huang Licheng Meme project Bobaoppa is about to distribute tokens to early supporters

According to official news on March 30, Huang Licheng’s Meme project Bobaoppa announced that it will be launched in advance and will distribute tokens to early supporters about one hour later (about 15:10). In this regard, Huang Licheng also wrote that airdrops are not received at the same time. For early supporters, it is better and fairer to be able to receive their tokens at the same time. (However, early supporter standards were not announced).

ALITA Binance Chain MEME project paid full compensation of US$2.95 million due to technical errors

According to news on March 28, after ALME/BNB went online last night, the contract rights were discarded due to technical operation errors. All pre-sale tokens distributed in advance were locked and have not been released. This is equivalent to destroying 50% of the tokens. After the accident, the ALITA consortium held an emergency meeting and decided to fully compensate the pre-sale of 3,000 BNB, involving 3,949 wallet addresses. In view of the existence of fraudulent projects, users should pay attention to identify the tail number of the ALME contract d0f7f7912b. Currently, the project is still paying full compensation to wallet addresses that kill blocks within minutes of opening.

Meme project Hone will be refunded if fundraising fails to reach target

According to news on March 27, the Meme project Hone (Honeybadger) launched by X (former Twitter) KOL Yo (@web3yoyoyo) raised more than 20 million USDT, with a target of 50 million USDT. Affected by the collapse of the Ents project issued by KOL VT, Hone announced that it had failed to raise funds and would arrange for technical staff to issue refunds. Yo said that he had experienced a contract loss of US$100 million before and would not choose to run away with US$20 million in fundraising funds. According to the official introduction, "Hone is a full-chain meme and is already developing the meme protocol. In the future of the meme protocol, any project party can initiate a donation in the protocol, but the project party cannot access the funds. They can set the currency name/avatar/quantity/donation amount. /Time/Pool Percentage/Treasury/Refund, etc., is equivalent to the meme version of ordi. It is in the interest of all chains to open the capital entrance of all chains."

Ordinals developer: Runestone is not an NFT collectible, but a Meme coin

On March 29, Ordinals developer Leonidas posted on social media that everyone mistakenly regarded Runestone as an NFT collection, but within a month, everyone will regard Runestone as Memecoin. If a randomly pre-sold Memecoin can soar to a market value of $1 billion overnight, imagine what Memecoin on the Bitcoin chain can do.