🪙 Tether announces plan to reorganize into four new divisions

Tether, the issuer of the stablecoin, announced it is reorganizing to venture into broader digital asset sectors. The company's USDT stablecoin will be managed by a group called "Tether Finance," while another division, named "Tether Power," will manage the company's investments in bitcoin mining. A third division, "Tether Data," will oversee strategic investments in technology, including artificial intelligence (AI). Finally, a division called "Tether Edu" will house various educational initiatives.

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@TradeCryptoNow

💰 URPD metric indicates a lack of liquidity for Bitcoin below $60,000

Bitcoin experienced a 4% rally on April 18, bouncing back from just below $60,000 on April 17. CryptoSlate has identified $58.8k as a major support level — which is the short-term holder realized price (STH RP) that has previously acted as support during bull runs. If Bitcoin drops below the support level, it could signal a bearish trend, similar to the breach of STH RP in May 2021 that kicked off the bear market.

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@TradeCryptoNow

💰 Bitcoin Miners Ramp Up Hashrate as Halving Nears, Network Hits 653 EH/s Record

Just before the upcoming block reward halving, with only 72 blocks left until reaching block height 840,000, bitcoin miners have significantly boosted their hashrate. As of 8:50 a.m. EDT on April 19, 2024, the hashrate soared to a record 653 exahash per second (EH/s).

Source

@TradeCryptoNow

💰 Spot Bitcoin ETFs Record 5 Consecutive Day of Outflows; Analyst Declares Cool-Off 'Totally Normal'

The newly launched spot bitcoin ETFs have been active on the stock market for 99 days, having commenced trading on Jan. 11, 2024. Throughout this period, they have experienced significant trading volumes, marked by substantial inflows from entities such as IBIT and FBTC, as well as notable outflows, particularly from GBTC. During Thursday’s trading sessions, the market observed another net outflow totaling $4.3 million, following a more substantial outflow of $165 million the previous day.

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@TradeCryptoNow

🥇 Bitcoin mining stocks saw spikes across the board ahead of halving event

Several Bitcoin mining firms listed on the Nasdaq stock exchange closed the trading week with a noticeable 24-hour increase in share prices in the lead-up to the Bitcoin halving event. On April 20, Bitcoin celebrated its fourth-ever halving event, and the date was likely firmly marked in the calendars of Bitcoin mining firms as it can significantly disrupt business operations.

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@TradeCryptoNow

💰 The Bitcoin Halving explained.

@TradeCryptoNow

💰 Mt Gox: Euphoria Hits Community As New Repayment Date Comes Into View

Mt Gox may be nearing the final stage of its much-anticipated repayment process to its creditors as the community recently took to Reddit to celebrate the new updates on its website. One Reddit user dubbed Due_Career_4786 stated that the Mt Gox website went down a few days ago due to some suspected technical discrepancies. He precisely mentioned that the glitch was a function of an ongoing update being carried out on the platform.

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@TradeCryptoNow

💰 Bitcoin Miner Revenue Reached $106.7 Million On The Halving Day

Bitcoin miner revenue experienced a significant boost following the recent halving event, driven by a surge in transaction fees. According to data from Glassnode, on April 20, Bitcoin miner revenue hit a record high of $106.7 million, with 75.444% of it stemming from network transaction fees. The spike in transaction fees was attributed to increased activity on the Runes protocol, particularly in capturing newly minted runes.

Source

@TradeCryptoNow

💰 Post-Halving Fee Madness on the Bitcoin Network After the Introduction of Runes

Bitcoin’s brief record-breaking fees were due to the frenzy of activity on the new Runes Protocol, which went live on the halving day. The average Bitcoin transaction fee dropped on Sunday after reaching a record high the day before. Following the much-anticipated halving, the average fee per Bitcoin transaction hit a record high of $128.45 stemming from Runes. However, data from YCharts revealed that the figure subsequently fell to $34.8 million on April 21.

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@TradeCryptoNow

💰 ViaBTC auctions 'epic sat' after mining Bitcoin's halving block and holding back rewards

Bitcoin mining pool ViaBTC is auctioning the "epic sat" after mining Bitcoin's fourth halving block on Friday and setting aside 40.75 ($2.6 million) in rewards. "The auction for Sat 1,968,750,000,000,000 — 1 of only 4 epic sats in the Bitcoin ecosystem — has officially begun!," ViaBTC posted on its official X account earlier on Tuesday. "We're thrilled to partner with [crypto exchange] CoinEx Global for this monumental event.".

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@TradeCryptoNow

💰 Bitcoin has room to trend higher in less leveraged market: Standard Chartered

Bitcoin, along with the rest of the cryptocurrency market, may trend higher following the liquidation of highly elevated leveraged positions before the halving, an analyst said Tuesday. The week leading up to last Saturday's bitcoin halving saw a flush-out of a substantial amount of leveraged long positions, when bitcoin fell to a recent low below the $60,000 level.

Source

@TradeCryptoNow

💰 Bitcoin mining difficulty rises for first time immediately after a halving amid Runes fee frenzy

Bitcoin mining difficulty rose 2% on Wednesday to hit a new all-time high in the first adjustment since last week’s halving event. The difficulty adjustment came at block height 840,672, reaching a record of 88.1 trillion, according to Bitbo data — marking the first time Bitcoin mining difficulty has risen in the first adjustment following a halving.

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@TradeCryptoNow

🪙 USDT's exchange balance hits highest level in a year and keeps rising

Exchanges are holding more of Tether's USDT. The 7-day moving average of the change in USDT held by exchanges reached $568 million earlier this month, the highest it's been in a year. The moving average has remained positive since the start of February, indicating consistent growth of exchanges’ USDT holdings.

Source

@TradeCryptoNow

💰 Fidelity’s spot bitcoin ETF records outflow for first time

Fidelity’s spot bitcoin exchange-traded fund saw daily net outflows of $22.61 million on Thursday, becoming the first day the ETF saw more funds move out since its January listing, according to SoSoValue data. Several other U.S. bitcoin funds reported daily outflows, totaling a drainage of $217.58 million. Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out, SoSoValue data showed. Valkyrie’s fund lost $20.16 million and Bitwise saw an outflow of $6 million.

Source

@TradeCryptoNow

🪙 Franklin Templeton lists Ethereum ETF on DTCC

Asset management firm Franklin Templeton has listed its spot Ether exchange-traded fund (ETF) — the Franklin Ethereum TR Ethereum ETF (EZET) — on the Depository Trust and Clearing Corporation (DTCC) website, a significant platform for securities transactions in the United States. The DTCC website’s “Create/Redeem” column lists the ETF, indicating its availability for creation and redemption.

Source

@TradeCryptoNow