🇭🇰 Hong Kong to see 💰Bitcoin ETF launches from 🇨🇳 Chinese giants Harvest Fund and China Southern Fund 👀🙌

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Wall Street giant Fidelity now holds 150K 💰 Bitcoin worth over $10 billion.

It's just getting started 🚀

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Here's why 👇

17% of new meme coins on the Base network are associated with fraud, while 91% of projects have vulnerabilities. This is stated in a new report by [Cointelegraph](https://cointelegraph.com/magazine/base-meme-coins-scams-vulnerabilities-honeypot/)

According to experts, over 380,000 ERC-20 tokens have been issued on the Base network. To conduct the research, the team studied the security profiles of new projects launched between March 19th and March 25th, 2024.

The most common vulnerability on the Base network was identified as liquidity pool breaches. 90.5% of projects did not lock liquidity, making them susceptible to rug pulls. In this type of fraud, developers withdraw all Ethereum, stablecoins, and other assets from the pool, and then abandon further development of the project.

Experts also noted that approximately 1300 new tokens appeared on the Base network during the period from March 19th to March 25th. After the hype around meme coins, such projects faced [criticism](https://x.com/ki%5Fyoung%5Fju/status/1769759121903927446) from the community due to their lack of utility and high risk of fraud.

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 Every sixth meme coin on the Base network is associated with fraud

On April 11, 2024, the Bitcoin mining difficulty reached a historic high, marking 86.39 T. Since the last change date, the indicator has increased by 3.92%, according to [BTC.com](https://btc.com/stats/diff)

The current average hash rate in the Bitcoin network is 618.15 EH/s.

Mining difficulty determines the necessary total power of equipment required for cryptocurrency mining.

bafybeihken6r7kaa4k5vzmvqwnomtq2iwvgtigwgl2popf5c6pt7un4cda

 Bitcoin mining difficulty has reached a new all-time high

Jan van Eck, the CEO of investment company VanEck, stated that since the launch, spot Bitcoin ETFs have attracted funds from retail investors, while traditional banks and institutional investors "have not yet entered the fray." He [discussed](https://cointelegraph.com/news/retail-investors-bitcoin-etf-vaneck) this in an interview at Paris Blockchain Week.

➫ "I was surprised, but I still don't think these are traditional investors. I still believe that 90% of the inflow is retail trading” said van Eck.

Additionally, he mentioned that the impact of Bitcoin funds on the first cryptocurrency might be exaggerated. 

The VanEck CEO remarked that "the Bitcoin market is more global and much deeper than ETFs."

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90% of the inflow into Bitcoin ETFs comes from retail investors — CEO of VanEck

what's VanEcK CEO Insinuating 👀👀👉

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The Securities and Futures Commission of Hong Kong (SFC) is preparing to register the first spot ETFs based on Bitcoin and Ethereum. According to [Bloomberg](https://www.bloomberg.com/news/articles/2024-04-12/hong-kong-bitcoin-ether-etf-approval-expected-as-soon-as-monday), a positive decision on these products could be made as soon as April 15, 2024.

Sources indicated that the list of issuers potentially able to obtain SFC approval includes Harvest Fund Management Company, HashKey Capital, and Bosera Asset Management Company. Unconfirmed reports suggest that the regulator is ready to approve applications for both types of cryptocurrency ETFs.

The event is expected to attract capital from Chinese investors and serve as an additional stimulus for the growth of these cryptocurrencies. The source noted that the exact launch dates are not fixed and may change at any moment.

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Cryptocurrency ETFs based on Bitcoin and Ethereum will be approved in Hong Kong on April 15th.

The upcoming Bitcoin halving is likely to take place next week on April 20, 2024, according to data from the [BitcoinBlockHalf website](https://www.bitcoinblockhalf.com/) 

Based on the available information, less than 1000 blocks need to be mined before the fourth halving, where the block reward will be halved. At the current rate and without significant changes, Bitcoin miners are expected to process the remaining blocks in less than seven days.

It's worth noting that, according to statistics, an average of 144 Bitcoin blocks are mined per day. In other words, approximately every 10 minutes, someone processes one block of the first cryptocurrency.

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 Less than 1000 blocks left until Bitcoin's halving.

Bitcoin's halving, [which is less than 1000 blocks away](https://www.bitcoinblockhalf.com/) , could bring losses of $10 billion to mining companies. [Bloomberg reports](https://www.bloomberg.com/news/articles/2024-04-14/bitcoin-halving-will-deal-a-10-billion-blow-to-crypto-miners) this citing analysts' data.

After the halving, the reward for mining a Bitcoin block will decrease from 6.25 BTC to 3.125 BTC. Considering the current price of the first cryptocurrency, the industry is expected to lose approximately $10 billion in one year, experts noted.

To mitigate the losses from Bitcoin's halving, [Marathon Digital](https://x.com/MarathonDH/status/1768616761023246584) , [CleanSpark](https://x.com/CleanSpark%5FInc/status/1754870619450056979), [Phoenix Grou](https://adxservices.adx.ae/cdn/contentdownload.aspx?doc=3027343)P, and other miners have invested in new equipment and focused on expanding their capacities by acquiring smaller competitors.

Remarkably, against this backdrop, the volume of short positions on stocks of the 15 largest mining companies reached around $2 billion. Thus, many traders anticipate a decrease in the value of the securities of Bitcoin miners.

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Miners' losses after Bitcoin halving could reach $10 billion.

 In an interview with journalist Tucker Carlson, Telegram company owner Pavel Durov [stated](https://www.youtube.com/watch?v=1Ut6RouSs0w&t=2122s&ab%5Fchannel=TuckerCarlson) that he has several hundred million in dollars and bitcoins. He emphasized that he has never been driven by wealth and luxury.

During the interview, the host touched on several topics. These included Telegram's IPO, Durov's business approach, his net worth, the economic climate in the UAE, and pressure from authorities.

➫ "For me, this \[the Telegram project\] was never about money. So, I had several hundred million in dollars and bitcoins in my account 10 years ago, and I did nothing with them. I don’t own any real estate, private planes, or yachts," Durov declared.

More in the [official interview](https://www.youtube.com/watch?v=1Ut6RouSs0w&t=2122s&ab%5Fchannel=TuckerCarlson)

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Pavel Durov owns "hundreds of millions in dollars and bitcoins".

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Pavel Durov owns "hundreds of millions in dollars and bitcoins."

Cryptocurrency exchange Binance plans to re-enter the Indian market by paying a $2 million fine, reports [The Economic Times](https://economictimes.indiatimes.com/tech/technology/binance-coins-a-new-phase-in-india/articleshow/109382161.cms) , citing its sources.

 Additionally, the source stated that the company will comply with the regulations on taxation of virtual asset service providers (VDA). It is noted that crypto investors in India are required to pay a 1% TDS charge, which applies to all registered platforms.

 According to The Economic Times, it was specifically the evasion of this obligation that allowed Binance to capture a 90% market share in India. The publication added that the capitalization of this sector is estimated at $4 billion.

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Binance plans to resume operations in India.

Tether, the issuer of USDT, [has officially added](https://tether.to/ru/supported-protocols/) support for the TON network for the stablecoin. It has authorized the issuance of 10 million USDT.

According to the presentation, on-chain fees can be paid in the stablecoin USDT.

Btw, TON dropped by 15% after the presentation.

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The CEO of Tether confirmed the launch of USDT on TON

☆ On the night of April 20, 2024, the Bitcoin network underwent a \[halving\](https://www.bitcoinblockhalf.com/), following which a new standard for fungible tokens called Runes was launched. As a result, network fees increased.

This rise was also confirmed by [Whale Alert](https://x.com/whale%5Falert/status/1781475539947073623) . Analysts reported that one transaction cost 6 BTC ($430,619 at the time).

Additionally, [experts](https://twitter.com/whale%5Falert) noted that four other transactions were made, costing a total of 11 BTC.

Nearly 247,000 transactions were awaiting confirmation. Reporter [Colin Wu](https://x.com/WuBlockchain/status/1781497972045615346) stated that this congestion was related to the launch of the Runes standard in the network.

bafybeicmodauqqzlolwwroztvqycqwb2nzc5rmozwv3iaw2uxm33t6pk3m

 Bitcoin network fees have increased after the halving

☆ Martti Malmi, who was one of the first collaborators of Satoshi Nakamoto, [shared](https://mmalmi.github.io/satoshi/) his email exchanges with Satoshi. 

 In these emails, Satoshi expressed that promoting "anonymity" and viewing Bitcoin as an investment were unnecessary. 

He also mentioned that Bitcoin's Proof of Work (POW) system uses less energy compared to the conventional banking system. 

Furthermore, Satoshi emphasized that POW is the sole method to operate a peer-to-peer electronic cash system effectively without needing a trusted intermediary.

bafybeifkt7dhglgs2s4insswylgvylet6w7n26v6hwqwvsu7353txd3krm

Satoshi Nakamoto’s first collaborator, sophomore Martti Malmi, disclosed his emails with Satoshi

Bitcoin miners may switch to the artificial intelligence sector after the halving due to rising operational costs, reports [CoinDesk, citing a CoinShares expert report](https://www.coindesk.com/business/2024/04/22/bitcoin-miners-may-shift-focus-to-ai-after-halving-coinshares-says/)

As examples, the analysts mentioned several counterparts: BitDigital, Hive, and Hut 8\. According to experts, these companies are actively investing in the AI sector and products based on this technology.

In October 2023, BitDigital announced the purchase of $35 million in graphics processors. Presumably, the equipment was allocated to the company's new division specializing in AI.

Despite such forecasts, miners' revenues remain high for now. This is due to [increased fees in the Bitcoin network](https://discord.com/channels/1174013700487778397/1174047223219241001/1231611755994546176), which were prompted by the launch of the Runes protocol.

bafybeihuk4bzc4a2sj3dwzghxubw4ekge6ciyisaqjajpquiytxx5h6vyy

 Miners may switch to AI after the halving due to high costs

On April 24, 2024, [Binance conducted](https://x.com/BNBCHAIN/status/1783009898286215375) its 27th quarterly BNB coin burn, removing 1,944,453 BNB from circulation, totaling $1.17 billion.

The [message stated](https://www.bnbchain.org/en/blog/27th-bnb-burn) that the burn was conducted as part of the Pioneer Burn program. Additionally, the company reminded us that in 2017, it committed to remove 100 million BNB (half of the total volume) from circulation.

In total, they plan to leave 100 million coins. The team added that the burning is performed automatically each quarter and is calculated using the Auto-Burn formula.

bafybeifjjt6rzfcjox53dcnal5x7cjpacbdiwsgsmsi63pswxn6hvd3r4i

Binance burned nearly 2 million BNB worth $1.17 billion

1\. Several macro data is being released this week and had investors spooked. Particularly, there is a declining probability of US interest rate cuts this month, and rumors of possible rate hike considerations

2\. Over the last 24 hours, 115,804 traders were liquidated for a whopping $387.91m.

3\. US Spot BTC ETFs saw an outflow of $161m yesterday

4\. Hong Kong’s Bitcoin and Ether ETFs failed to meet expectations

5\. RSI divergence indicators suggest a bearish trend, as it was in the "overbought" area during the US BTC ETFs launch

6\. More BTC miners approach shutdown levels amid price drop below $57,000

It is important to note that during the 2015-2017 bull market, over 13 different 20% pullbacks occured. Price swings are quite normal and sometimes good for the markets.

bafybeiflxpmzph246i6vxtgqsch7ogmx4uhsxn3wbc5j6ofews5hwd2oua

Bitcoin and a handful of altcoins were down around 7%-10% over the last 24 hours. Here are several factors:

📁 Equity options volume in 🇮🇳 India has nearly hit $40 billion, absolutely destroying the United States and the rest of the world

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David Han, a cryptocurrency analyst at Coinbase, [stated](https://www.coinbase.com/en-gb/institutional/research-insights/research/monthly-outlook/monthly-outlook-may-2024) that the market may be underestimating the timelines and chances of potential approval for an Ethereum ETF. The expert believes that the question is not whether such products will appear, but when they will happen.

Han also pointed out possible reasons for the non-approval of an Ethereum ETF. In his opinion, they will most likely be related to differences between Ethereum and Bitcoin, and Ethereum's Proof-of-Stake mechanism.

Furthermore, the Coinbase analyst added that Ethereum might "bring a surprise in the coming months." According to him, the asset "does not have serious sources of excess supply," such as coin unlocking or pressure from miners.

The expert also commented on the launch of Ethereum funds with staking features. He said that such products are unlikely to be approved in the near future.

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Coinbase stated that they underestimated the timelines and chances of approval for an Ethereum ETF

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Edmond22

Cryptocurrency exchange Binance plans to re-enter the Indian market by paying a $2 million fine, reports The Economic Times , citing its sources.

Additionally, the source stated that the company will comply with the regulations on taxation of virtual asset service providers (VDA). It is noted...

In an interview with journalist Tucker Carlson, Telegram company owner Pavel Durov stated that he has several hundred million in dollars and bitcoins. He emphasized that he has never been driven by wealth and luxury.

During the interview, the host touched on several topics. These included...

Bitcoin's halving, which is less than 1000 blocks away , could bring losses of $10 billion to mining companies. Bloomberg reports this citing analysts' data.

After the halving, the reward for mining a Bitcoin block will decrease from 6.25 BTC to 3.125 BTC. Considering the current price of the...

☆ On the night of April 20, 2024, the Bitcoin network underwent a \[halving]\(https://www.bitcoinblockhalf.com/), following which a new standard for fungible tokens called Runes was launched. As a result, network fees increased.

This rise was also confirmed by Whale Alert . Analysts reported...

Bitcoin Advocate • Blockchain Enthusiast • Ambassador • Crypto Blogger • Digital Marketier • Crypto Lover/Investor • Father • DeFi Farmer

The upcoming Bitcoin halving is likely to take place next week on April 20, 2024, according to data from the BitcoinBlockHalf website

Based on the available information, less than 1000 blocks need to be mined before the fourth halving, where the block reward will be halved. At the current rate...

Here's why 👇

17% of new meme coins on the Base network are associated with fraud, while 91% of projects have vulnerabilities. This is stated in a new report by Cointelegraph

According to experts, over 380,000 ERC-20 tokens have been issued on the Base network. To conduct the research, the team...

On April 24, 2024, Binance conducted its 27th quarterly BNB coin burn, removing 1,944,453 BNB from circulation, totaling $1.17 billion.

The message stated that the burn was conducted as part of the Pioneer Burn program. Additionally, the company reminded us that in 2017, it committed to remove...

☆ Martti Malmi, who was one of the first collaborators of Satoshi Nakamoto, shared his email exchanges with Satoshi.

In these emails, Satoshi expressed that promoting "anonymity" and viewing Bitcoin as an investment were unnecessary.

He also mentioned that Bitcoin's Proof of Work (POW) system...

1\. Several macro data is being released this week and had investors spooked. Particularly, there is a declining probability of US interest rate cuts this month, and rumors of possible rate hike considerations

2\. Over the last 24 hours, 115,804 traders were liquidated for a whopping $387.91m...

David Han, a cryptocurrency analyst at Coinbase, stated that the market may be underestimating the timelines and chances of potential approval for an Ethereum ETF. The expert believes that the question is not whether such products will appear, but when they will happen.

Han also pointed out...

The Securities and Futures Commission of Hong Kong (SFC) is preparing to register the first spot ETFs based on Bitcoin and Ethereum. According to Bloomberg, a positive decision on these products could be made as soon as April 15, 2024.

Sources indicated that the list of issuers potentially able...

Jan van Eck, the CEO of investment company VanEck, stated that since the launch, spot Bitcoin ETFs have attracted funds from retail investors, while traditional banks and institutional investors "have not yet entered the fray." He discussed this in an interview at Paris Blockchain Week.

➫ "I was...

Tether, the issuer of USDT, has officially added support for the TON network for the stablecoin. It has authorized the issuance of 10 million USDT.

According to the presentation, on-chain fees can be paid in the stablecoin USDT.

Btw, TON dropped by 15% after the presentation.

On April 11, 2024, the Bitcoin mining difficulty reached a historic high, marking 86.39 T. Since the last change date, the indicator has increased by 3.92%, according to BTC.com

The current average hash rate in the Bitcoin network is 618.15 EH/s.

Mining difficulty determines the necessary total...

Bitcoin miners may switch to the artificial intelligence sector after the halving due to rising operational costs, reports CoinDesk, citing a CoinShares expert report

As examples, the analysts mentioned several counterparts: BitDigital, Hive, and Hut 8. According to experts, these companies are...

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