MOG, the cat-themed meme coin, has experienced a surge in popularity, leading to a price increase and a surge in trading volume. The rising interest in MOG can be attributed to its partnership with the meme coins trading platform Photon, which involves the redistribution of trading fees to the MOG community. Additionally, prominent traders and investors have expressed optimism about MOG, further fueling its growth trajectory.
Every four years, Bitcoin’s halving event occurs, reducing the reward for miners by half. This event is designed to control Bitcoin’s supply and maintain its value. The recent halving event differs from previous ones due to the launch of spot Bitcoin ETFs. However, the current macroeconomic environment, with elevated interest rates, may affect the impact of the halving event on Bitcoin’s price.
Get ready for the next exciting event in the Bitcoin ecosystem – the halving. Scheduled roughly every four years, the halving marks a significant reduction in the issuance of newly minted Bitcoins. This supply reduction is expected to have a bullish effect on the price, making it an important event for investors to watch. As the digital asset enters a new phase of its growth cycle, let’s explore the implications and potential opportunities the halving presents.
U.S. prosecutors have filed a sentencing memorandum recommending a 36-month prison sentence for the former CEO of cryptocurrency exchange Binance, Changpeng Zhao. The recommendation exceeds the suggested guideline range of 12 to 18 months, citing the gravity of Zhao’s alleged crimes. Prosecutors accuse Zhao of willful failure to implement anti-money laundering protocols and allowing Binance to process transactions involving unlawful activity, including those subject to sanctions. The sentencing hearing is scheduled for April 30th.
Block Inc., formerly known as Square, has successfully completed the development of its highly anticipated Bitcoin mining chip. This significant milestone marks a major step in the company’s mission to enhance the accessibility and decentralization of the Bitcoin ecosystem. The three-nanometer chip, a technological marvel, will power specialized computers dedicated to Bitcoin mining and sets a new standard for the industry. Block Inc.’s dedication to innovation is further exemplified by its ongoing development of a comprehensive Bitcoin mining system.
The cryptocurrency market has witnessed fluctuations following the halving of Bitcoin, with a number of altcoins experiencing losses. Bitcoin recorded a decline of 0.56 percent to trade at $65,693, while Ether faced a 1.79 percent drop to trade at $3,037. Some altcoins, including Tether, Ripple, Dogecoin, Shiba Inu, and Polkadot, also saw losses. Meanwhile, Binance Coin, Solana, Litecoin, Leo, and Uniswap posted minor gains. The overall market capitalization for the crypto sector rose by 1.37 percent in the last 24 hours, reaching $2.47 trillion.
Bitcoin’s price experienced a modest increase on Wednesday due to a temporary decline in the dollar’s value. However, broader crypto prices were subdued amid persistent concerns over prolonged higher interest rates and waning enthusiasm for exchange-traded funds (ETFs). Despite the rebound in technology stocks this week, Bitcoin remained within a narrow trading range of $60,000 to $70,000, largely unaffected by recent events such as the halving event and the launch of the ‘Runes’ protocol. Data indicates that crypto investment products have witnessed capital outflows for the second consecutive week, suggesting declining interest in ETFs after their initial approval in March. As the Federal Reserve maintains its hawkish stance and inflation concerns persist, cryptocurrencies face headwinds, as their performance typically thrives in low-interest, high-liquidity environments.
Zetrix Foundation, MY E.G. Services Berhad (MYEG), and MaiCapital, a licensed virtual asset manager in Hong Kong, have joined forces to launch a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products. This collaboration aims to issue a Securities and Futures Commission of Hong Kong (SFC) approved ETF, consisting of a basket of cryptocurrencies, including Bitcoin and Zetrix, and potentially other suitable cryptocurrencies. The partnership aligns with MYEG’s strategic alliance with Web3Labs Hong Kong and Summer Capital, driving Hong Kong’s Web3 aspirations and positioning Zetrix as the preferred blockchain infrastructure for applications aligned with the Hong Kong government’s objectives. This timely collaboration comes as the SFC has begun granting approvals for spot bitcoin and ethereum ETFs to several asset managers.
Standard Chartered analysts have postponed their previous prediction of Ethereum exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) from May to an unspecified date. The delay is expected to impact the price of Ethereum, with analysts now forecasting a price of $150,000 for Bitcoin and $10,000 for Ethereum by the end of the year.
Neobank platform Revolut has added the FLOKI token to its platform, allowing over 40 million users in more than 150 countries to trade FLOKI using major fiat currencies. This expansion is part of FLOKI’s strategy to increase its global footprint and enhance its accessibility. FLOKI has recently gained attention on social media and has partnered with Binance Pay and Carbon Browser to enhance its usability and integration in everyday commerce.
