IBIT Reports a 21.3 Million Dollar Net Inflow

BlockBeats reports that IBIT, a Belet product, announced a net inflow of $21.3 million on April 9. Tree News first reported this financial news. The amount of money invested in the product during the course of the day is shown by the net inflow.

An important metric for assessing the performance of the product and investor interest is this financial activity. The significant influx of $21.3 million indicates that investors have a high level of trust in IBIT. It's crucial to remember that this is just statistics from one day, so it could not necessarily represent a long-term trend.

There were no other specifics given regarding the type of investments made or the investors. How this capital inflow affects IBIT's performance in the upcoming days is still to be seen.

An Increase in Venture Capital Investment Into Crypto Startups

According to Bloomberg, venture capital (VC) investments in cryptocurrency firms increased significantly in the first quarter of 2024. The amount invested came to $2.5 billion, up 32% from the previous quarter and staying at a level comparable to the prior year's same period. PitchBook gave this information.

Following a two-year period of capital conservation, investors have resumed spending, according to PitchBook cryptocurrency analyst Robert Le. Part of the reason for the resurgence of interest in cryptocurrencies was the recent approvals. The managing general partner of Canonical Crypto, an early-stage venture fund, Anand Iyer, has noticed a spike in financing activity lately. He made the point that some of the entrepreneurs who are currently seeking funding are not novices in the field; they have developed unsuccessful initiatives in the past.

According to Robert Le, a cryptocurrency analyst for PitchBook, investors have started investing again after a two-year period of money conservation. The latest approvals contributed to the renewed interest in cryptocurrencies. Anand Iyer, managing general partner of early-stage venture firm Canonical Crypto, has recently observed an increase in financing activities. He emphasized that some of the business owners looking for finance are not newbies to the industry; they have created failed projects in the past.

A few of the original characteristics of cryptocurrencies that were well-known in the last bull market have also returned. There are indications of industry maturity that other venture capitalists are observing. Formerly a member of the executive team at the decentralized cryptocurrency exchange Sushi, John Lo is a managing partner at Recharge Capital, where he is in charge of digital asset investing. He pointed out that the business is growing because Bitcoin is being adopted and used on a scale that has never been seen before.

Javier García, General Manager of Binance for Spain and Portugal, Talks About Bitcoin Halving on Negocios TV

In an interview with Spain's Negocios TV last week, Javier García, General Manager of Binance for Spain and Portugal, offered his thoughts on the impending halving of Bitcoin and the favorable state of the cryptocurrency industry.

During the conversation, García provided insightful analysis of Binance's encouraging achievements and expansion, positioning Binance as a key participant in the dynamics of the cryptocurrency market. Important highlights include of: Due to a combination of rising cryptocurrency prices, increased activity on the site, and fresh investment volume, Binance recently broke its own record, with user assets valued at over $100 billion.

In the last six months, Binance has witnessed a 17% increase in transactional retail customers throughout Europe, which has strengthened its position as a leading player in the global cryptocurrency market.

By May 1st, holders of RLB tokens on Solana must migrate to Ethereum.

Users who own RLB tokens on Solana have been told to switch to Ethereum by May 1st, according to Foresight News. All RLB tokens on the Solana chain will be destroyed after this date. This directive was released by Rollbit, the firm that created the RLB tokens. All users who presently possess RLB tokens on Solana are anticipated to be impacted by the change. There are no more details available regarding the relocation procedure or the factors that led to this choice.

Uniswap Labs Releases New Functionality UniswapX

Uniswap Labs has announced the release of UniswapX, a new functionality for the Uniswap interface, according to PANews. This feature uses intelligent routing to guarantee the best outcomes for every transaction. Transactions will be processed through UniswapX if it offers the best price.
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In just one day, BNB increases by 1.76% to surpass 590 USDT. April 6, 2024, at 23:09 UTC. Binance Market Data reports that BNB has risen 1.76% in the last day to trade at 590.099976 USDT, having crossed the 590 USDT benchmark.
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Bitcoin is predicted to reach $175,000 by 2025, leading to a predicted cryptocurrency bull market.

CryptoPotato reports that with Bitcoin (BTC) hitting a new high and the entire market capitalization getting close to its top, the cryptocurrency space looks to be entering a new bull market. Anticipated in around two weeks, the fourth halving has a history of igniting price surges in the future for many other assets in addition to Bitcoin. As a result, several cryptocurrency analysts have made astounding price projections for Bitcoin and other altcoins.

One of the most recent content creators with over 250,000 followers is JakeGagain. He seems to be expecting Bitcoin to reach $175,000 by 2025, based on his tweet. This prediction is in line with a number of others from well-known organizations like Standard Chartered and business analysts like Tom Lee and Mark Yusko. Given that they had set a $150,000 price objective for this year, $175,000 in 2025 seems doable.

The state of Dogecoin is also significant. Elon Musk is among the well-known individuals who have backed the original meme coin, which is expected to hit $1. Many experts predict that Dogecoin will reach this level in 2024 or 2025, despite the fact that it did not during the previous bull cycle.

The community behind Ripple's native coin is likewise quite strong. In line with Jake's prediction for the upcoming year, price projections range from $1 to $5 or $6. But XRP is under a great deal of uncertainty because of Ripple's continuing legal battle with the US Securities and Exchange Commission. The price of XRP has been greatly impacted by previous decisions in this legal dispute, suggesting that there may be volatility after the matter is resolved. If Ripple wins, XRP might really soar to new heights.

$BTC $DOGE $XRP

Polygon's Avail Joins NIM Network-Initiated AI Gaming Alliance

BlockBeats reports that Polygon's modular blockchain project Avail has announced a relationship with the AI gaming alliance that was started by NIM Network. The strategic alliance will concentrate on developing DA programs specifically for AI games. Previously, the partnership included the Web3 social simulation game Today, the decentralized data sharing protocol OceanProtocol, and the on-chain competitive site JokeRace.

Avail declared in February that a $27 million seed round of funding had been completed. Dragonfly and Founders Fund, the venture capital firm founded by Peter Thiel, led the investment. Numerous angel investors, Figment, Nomad Capital, and SevenX Ventures were among the other participants in the investment round.
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MicroStrategy Stock Rises Amid Exposure to Bitcoin

Bloomberg reports that MicroStrategy's exposure to Bitcoin has played a major role in the company's stock performance over the past month, exceeding Wall Street's projections. Based on a sum-of-the-parts analysis, analyst Harte observed that the premium investors are ready to pay for this exposure has created a new norm above 2x. Additionally, he believes that in the upcoming year, the company would profit from Bitcoin-related triggers, especially the anticipated halving of Bitcoin this month.

It is a dangerous move, though, given the strong correlation between the company's shares and a cryptocurrency. The stock loses more heavily during downturns even though it trades at a premium to Bitcoin. This was made clear on a recent Friday when a reversal in the price of Bitcoin caused MicroStrategy shares to plummet as much as 3.2% during intraday trade.

The hazards are further highlighted by Harte's MicroStrategy estimates. If the premium drops and regulatory pressures have an effect on the cryptocurrency market, he believes that shares might fall below $700 and Bitcoin could return to $48,000. However, the stock price may rise to $2,700, or over 70% above current trading levels, if Bitcoin breaks beyond $90,000 and the premium on the company's assets rises.

For the time being, Harte thinks the impending April halving will be a driving force behind the price of Bitcoin and the stock. He pointed out that in the year that followed the first three Bitcoin halving events, the price of one Bitcoin rose by an 80x, 4x, and 6x margin. Because Bitcoin acts as a disinflationary asset, he advises investors to see it as a safe haven from inflation in the face of fiscal stimulus from central banks. He also anticipates that institutional investors will continue to adopt Bitcoin.
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The CEO of Ripple objects to how the media portrays the company's stablecoin venture.

CEO of Ripple Brad Garlinghouse reportedly took issue with Coindesk's recent story portraying Ripple's foray into the stablecoin market as a desperate move, according to U.Today. Garlinghouse expressed his dissatisfaction with the inaccurate representation, calling it "childish antics" masquerading as a respectable company that ought to be in the forefront of media coverage on the cryptocurrency space.

As to the article authored by Consensus Magazine's deputy managing editor Daniel Kuhn, Ripple's declaration of a new stablecoin signified the 'death' of the contentious XRP asset. Additionally, Kuhn implied that the business, which is presently facing legal troubles with the Securities and Exchange Commission (SEC) of the United States, may be in dire need of a fresh source of income. The SEC has demanded that Ripple pay over $2 billion in fines and penalties, claiming that a sum this large would serve as a warning to other companies in the same industry.
The article also emphasized that 'legitimate' financial institutions have not shown much interest in Ripple's On-Demand Liquidity solution, presumably because of worries about XRP's volatility. Additionally, it said that Ripple's collaborations with Santander and MoneyGram have not proven fruitful and that statistics regarding the frequency with which RippleNet clients utilize XRP for international liquidity is lacking.

XRP community members, on the other hand, have backed Ripple, claiming that the business is not having as much trouble as the story implies. They emphasized that among Ripple's financial partners are still well-known companies like American Express. In addition, XRP's market size keeps it among the leading cryptocurrencies. Even though it makes up a very minor fraction of Ethereum's value, it is by no means inconsequential. Co-founder of XPMarket.com Artur Kirjakulov said that Ripple is still moving forward and seizing new chances, focusing more on the company's growth and resiliency than any apparent obstacles.

Bella Protocol and Manta Network Form a Strategic Alliance

Foresight News reports that Manta Network and Bella Protocol, a DeFi initiative, have formed a strategic alliance. By using Bella's DeFi liquidity services to assist innovation and growth inside the Manta ecosystem, the partnership seeks to fully realize the potential of the ecosystem.

#DeFi $BTC

Juice Finance Notifies Users That They Can Now Remove wETH From Munch.

As to Foresight News, consumers can now withdraw wETH from Munch, according to Juice Finance, a protocol within the Blast ecosystem. The procedure is taking out the maximum amount of money from the vault, paying back the interest and the loan pool, and then taking out wETH to the wallet. This update is a result of Juice Finance's continuous efforts to bring its customers greater choice and flexibility.
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Doodles Says Its 'Grey Plan' Will Launch This Summer And It Works With Famous Artists

As per Foresight News, Doodles has declared that the 'Grey Plan' will be introduced this summer. The immersive animation project will have its world premiere at the Toronto International Film Festival before going on to screen all across the world. For this initiative, the business is working with well-known artists Pharrell Williams, Lil Wayne, and Coi Leray. There are still no additional project information available.

In just one day, BNB increases by 6.42% to surpass 590 USDT.

April 4, 2024, at 13:17 UTC. Binance Market Data reports that BNB has risen 6.42% in the last day to trade at 590.400024 USDT, having crossed the 590 USDT benchmark.

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Date of the Devnet Upgrade Announced by Mina Foundation The Mina Foundation has stated that April 9 is the scheduled date for its Devnet upgrade, according to Foresight News. Simplified ZK programmability and other essential capabilities will be added to the main network with the Devnet upgrade of Mina, which is the last milestone before the Berkeley upgrade.$BTC

While raising $2.2 billion for its latest venture fund, Tiger Global Management falls short of its goal.

Tiger Global Management's most recent venture capital fund has garnered only $2.2 billion, well short of its $6 billion goal, according to PANews. This is the firm's lowest fundraising effort in almost ten years. The Private Investment Partners 16 fund (PIP 16) final closure last week was the first occasion that Tiger Global's venture capital fund raised less money than in prior years. With a final fund size of $12.7 billion, the company raised the most money it had ever done.

Due to falling valuations and a paucity of transactions, investors are becoming increasingly hesitant to make venture capital and private equity investments, which is creating the most difficult fundraising climate Tiger Global has seen in years. PIP 16 will invest over a number of years, mostly assisting entrepreneurs in the corporate IT space, notably in the US and India. PIP 16 has been available for purchase for almost 18 months, which is longer than the time the company usually needs to raise money.

According to an insider, the company postponed the final closing time in part to allow investors more time to acclimate to Shleifer's departure as venture capital director. Additionally, a few clients asked for additional time to set up their internal budgets. According to reports, the business declared in November of last year that founder Chase Coleman will take over for venture capital director Scott Shleifer, who stepped down to take on the role of senior advisor.

$BNB $BTC $ETH

A $5 million private funding round is raised by the Cross-Chain Exchange Protocol.

The EigenLayer-based cross-chain exchange system Gasp has replaced the previous name Mangata Finance, according to BlockBeats. The business has declared the close of a fresh round of private financing, which brought in $5 million. Polychain Capital, CMS Holdings, Master Ventures, Token Metrics, and Cluster Capital were among the investors in this round of fundraising. With 30% of the overall capital, Cluster Capital made the largest contribution despite the lack of a lead investor. According to sources, this fundraising round has increased Gasp's FDV to eighty million dollars. As it continues to develop its cross-chain exchange protocol, Gasp has reached a critical milestone with the renaming and the successful investment round.$BTC $SOL

Scroll Promises to Cut Transaction Fees by Ten Times and Announces Support for EIP-4844

As per Foresight News, Scroll is in the process of evaluating its compatibility with EIP-4844 and intends to launch this protocol update by the end of April. The objective is to use extra gas optimization to lower transaction fees by a factor of ten. In the upcoming weeks, the community will receive a more detailed timeline from the corporation.

The group is also working on expanding support for Ethereum's EIP-1559 pricing system and enabling improved DA compression. After the next protocol upgrade, which is planned for the end of May, both of these functionalities should be made available on the Scroll mainnet.

Release of the Bitcoin Mining Firmware and Control Board by Marathon Digital

The Nasdaq-listed mining startup Marathon Digital has announced the release of its Bitcoin mining software and control board, MARAFW and MARA UCB 2100, according to Foresight News. The new items are meant to enhance the functionality, effectiveness, and adaptability of Bitcoin mining machinery.

Matter Labs and Blockchain Gaming Platform XPLA Collaborate to Promote Web3 Game Development

Foresight News reports that blockchain gaming platform XPLA and zkSync developer Matter Labs have partnered to advance Web3 game development and deployment via the recently established zkXPLA ecosystem. In addition to offering cross-chain integration and enabling the release of new games, entertainment experiences, and public projects for financial institutions and governmental organizations, the goal of the zkXPLA mainnet is to support Web3 games and projects that extend from Cosmos to the Ethereum ecosystem.