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2024-04-19 20:03:56 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).

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2024-04-19 10:03:13 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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2024-04-18 19:34:58 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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2024-04-18 11:11:49 Polkadot parachain Polimec aims to transform Web3 fundraising via decentralized platform

Polkadot’s parachain Polimec wants to revolutionize fundraising for Web3 projects through an innovative approach that sets it apart from rivals. Co-founder Kasper Mai Jørgensen further explained that Polimec enables fundraising directly on-chain without intermediaries in a transparent, fully decentralized, and regulatory-compliant manner. The project was conceptualized in 2020 by the team behind KILT Protocol and later became an independent project with its own non-profit organization in June 2022.

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2024-04-17 20:49:58 Norway to Target Cryptocurrency Mining Through Data Center Regulation

Norway has recently announced its intention of enacting a data center-focused law, which seeks to exert more control over the operations performed at these locations. One of the objectives behind this move would be to crack down on data centers hosting cryptocurrency mining operations, as it is an unwanted business in the country.

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2024-04-17 09:56:32 Despite weekend dip, bitcoin's market dominance hits highest level since April 2021

While the stock market was closed this weekend and unable to react to the news of Israel being the target of an Iranian drone attack, the crypto market was ready to respond. Assets across the board took a dip as traders recalibrated their portfolios and scaled back risky bets. Bitcoin itself fell from over $70,000 on Friday, April 12, to just over $63,000 at the end of April 13, dropping roughly 11.6% from its high on Friday to its low on Saturday.

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2024-04-16 19:52:24 Hong Kong spot bitcoin ETFs could go live as soon as this month: OSL

Hong Kong asset managers, including units of China Asset Management (ChinaAMC) and Harvest Global, may soon launch their spot bitcoin exchange-traded funds as early as later this month, OSL confirmed with The Block today. “Reports suggest a spot ETF may start in late April, with a spot ETF following shortly after,” said Patrick Pan, chairman of the board and CEO of OSL. “All parties are working expeditiously to complete the process. However, exact dates remain unconfirmed at this time.”

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2024-04-16 09:46:34 Liquid Staking Derivatives Lose Ground With Over 380,000 ETH Withdrawn in April

In the initial two weeks of April, a notable reduction of 380,000 ether was observed in the top liquid staking derivatives (LSD) protocols. On April 1, 2024, these platforms collectively held 13.53 million ETH across 27 distinct decentralized finance (defi) platforms, as per archived data from defillama.com. Presently, after this decline, approximately 13.15 million ETH, valued at $41.5 billion based on current exchange rates, remains.

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2024-04-10 09:10:55 Binance Has Matured Since DOJ $4.3B Settlement: CEO Richard Teng

Teng said Binance is now looking at sustainability and more compliance; hence the company’s focus on building a robust compliance program. Richard Teng, CEO of the world’s largest cryptocurrency exchange, Binance, believes the trading giant is past the cultural issues after it settled criminal charges from the United States Department of Justice (DOJ) with a $4.3 billion fine. During an interview with CNBC, Teng said Binance had moved past the early stage of its development, where there were no clear rules, and it had to operate in a certain way to stay relevant.

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2024-04-09 22:02:41 Solana 'leads the battle' for blockchain payments, Bernstein says

Looking back at recent stablecoin metrics, Solana is "leading the battle" for blockchain payments amid growth in market liquidity and improved investor sentiment, according to research and brokerage firm Bernstein. “The big change this cycle has been the dominant market share of Solana (43% highest share) in value of stablecoins transferred vs. prior cycle market leader Ethereum,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Tuesday.

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