Crypto Roundup: What's Happening in the Market Today? đč
Here's what's buzzing in the crypto world on April 25, 2024:
1. SEC Expected to Deny Spot Ether ETFs đ«
The U.S. Securities and Exchange Commission (SEC) is set to reject spot Ether (ETH) exchange-traded funds (ETFs) in May. This comes after several discussions with regulators, suggesting that approval might not happen until late 2024 or beyond. đ§ïž Some say the regulatory environment is still too murky, leaving the crypto market wondering what's next
2. BlackRock's Hedera Connection Clarification Crashes HBAR đ
BlackRock clarified that it has no connection with Hedera, leading to a massive 30% drop in Hedera's token (HBAR). This correction came after rumors swirled that BlackRock was involved in tokenizing its $22 billion money market fund on the Hedera network, which turned out to be false. The misunderstanding caused HBAR to crash after it spiked more than 100% earlier in the week.
3. Bitcoin Mining Profits Squeezed Post-Halving đȘ
Bitcoin miners are dealing with lower revenues after the halving event. The hash price dropped from nearly 12 cents in early April to just 7 cents post-halving. This means less revenue for miners and potentially tough times ahead, even though overall market conditions seem stable. The long-term impact is still uncertain, but the crypto world is watching closely.
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