Crypto-Handler

#CryptoStability #Binance #bitcoin

Binance is ending its support for TRC-20 USDC on the Tron network, aligning with Circle's earlier decision to cease minting and support for USDC on this blockchain. This move is part of a broader strategy to ensure the stablecoin's trust and safety. Binance's decision allows a short window for users to adjust, but it will continue to support USDC trading. This development highlights the ongoing adjustments within the cryptocurrency ecosystem regarding stablecoin support across different blockchains.

For further details, you can read the full article here
https://www.cryptometer.io/news/binance-ends-support-for-trc-20-usdc-following-circles-lead/

#HOTTRENDS #Web3Innovation

AIOZ Network has partnered with Alibaba Cloud to enhance Web3, AI, storage, and streaming services. This collaboration, as part of Alibaba Cloud's Innovation Accelerator, aims to bolster AIOZ's ecosystem and establish a DePIN alliance in Southeast Asia. Following the announcement, AIOZ's token showed remarkable stability and growth, reflecting positive market reception. This move underscores both companies' commitment to advancing decentralized technologies.

Read more about the AIOZ Network and Alibaba Cloud partnership here -

https://www.cryptometer.io/news/aioz-network-collaborates-with-alibaba-cloud-for-enhanced-ai-and-web3-services/

#CryptoSecurity #HOTTRENDS

$BTC $ETH $BNB

A United Nations report reveals North Korean hackers stole approximately $3 billion in cryptocurrency from 2017 to 2023, emphasizing the impact of state-sponsored cybercrime on the digital currency landscape. With efforts to investigate numerous heists in 2023 alone, these cyberattacks are seen as a significant funding source for North Korea's weapons programs, highlighting the sophisticated nature of their operations and the critical need for enhanced cybersecurity in the crypto industry.

Read more about North Korean crypto hackers here
https://www.cryptometer.io/news/north-korean-crypto-hackers-steal-3b-over-six-years/

#AssetTokenization #HOTTRENDS #tokens
BlackRock has ventured into the digital asset space by launching a tokenized asset fund on Ethereum, named the BlackRock USD Institutional Digital Liquidity Fund (BUIDL token). This initiative, representing a blend of traditional financial assets with blockchain technology, aims to offer daily yield payments to token holders. Partnering with Securitize for asset tokenization and including major financial institutions for custodial services, BlackRock's move underscores the growing integration of digital assets within mainstream finance.

Read more about BlackRock's asset tokenization fund here
https://www.cryptometer.io/news/blackrock-launches-asset-tokenization-fund-on-ethereum/

Simplifying Web3 Gaming Development: The Google Cloud and Sequence Partnership

#GamingRevolution #HOTTRENDS #Web3 #web3gaming

Google Cloud and Sequence have partnered to simplify Web3 gaming development, integrating Sequence's development tools with Google Cloud's services. This collaboration aims to make Web3 game creation more accessible, allowing developers to focus on gameplay rather than technical complexities, promising a future where high-quality and innovative Web3 games thrive.

Read more about the Google Cloud and Sequence partnership here
https://www.cryptometer.io/news/simplifying-web3-gaming-development-the-google-cloud-and-sequence-partnership

#HOTTRENDS #SolanaSurges #solona #SolanaGrowth

Solana's market cap has seen a dramatic rise, fueled by the popularity of meme coins within its ecosystem, positioning SOL among the top three assets. With its market cap reaching $90 billion, analysts, including Joe McCann of Asymmetric, believe Solana could hit a $1 trillion market cap, citing its high throughput and appeal as a retail-friendly blockchain. This speculation hinges on continued interest in meme coins and broader technological adoption.

Read more about Solana's potential market cap here
https://www.cryptometer.io/news/solanas-path-to-a-1-trillion-market-cap-a-real-possibility/

$SOL

#BitcoinInvestment #HOTTRENDS #BitcoinMillionaire

MicroStrategy, led by Executive Chairman Michael Saylor, has purchased an additional 9,245 bitcoins, totaling $623 million. This move increases their holdings to approximately 214,246 BTC, signifying a deep belief in Bitcoin's value as a long-term investment. Despite Bitcoin's price fluctuations, MicroStrategy's actions reflect a significant commitment to the cryptocurrency, underscoring the growing institutional interest in Bitcoin as a legitimate asset class.

Read more about MicroStrategy's Bitcoin acquisition here - https://www.cryptometer.io/news/michael-sailing-the-deep-again-acquired-another-9245-btc/
$BTC

#FidelityEthereumETF

Fidelity Investments has proposed an update to its Ethereum ETF application to include staking capabilities, causing the Lido protocol token to surge by 9%. This move, aimed at providing investors with rewards on their holdings, sets Fidelity apart from other firms like BlackRock and Ark Invest also seeking to launch Ethereum ETFs. The market responded positively, especially to Lido, but regulatory approval by the SEC remains uncertain with a key deadline on May 23. This development could significantly impact the future of Ethereum ETFs and crypto-financial products integration.

Read more about it [here](https://www.cryptometer.io/news/fidelitys-ethereum-etf-application-proposes-staking-feature-boosting-lido-token/).

Retail Investors Drive Bitcoin ETF Boom
#HOTTRENDS #BitcoinETF💰💰💰
Recent data highlights that the surge in demand for spot bitcoin ETFs is predominantly fueled by retail investors. The average trade size for BlackRock’s iShares Bitcoin Fund (IBIT), sitting around $13,000, indicates that the flurry of activity is not from institutional giants but from individual, nonprofessional investors. This development marks a significant shift in the cryptocurrency investment landscape, with billions of dollars flowing into bitcoin ETFs since their introduction in January, coinciding with a positive swing in sentiment towards Bitcoin.

Retail Investors at the Forefront
Bloomberg Intelligence senior ETF analyst Eric Balchunas pointed out that the daily average of 250,000 trades in IBIT, with an average size hinting at retail participation, is a clear indicator of where the demand is rooted. This perspective is supported by industry insiders, including BlackRock, who acknowledge a broad spectrum of buying interest but with a noticeable skew towards retail investors.

ETFs Lowering Entry Barriers
The launch of ETFs has significantly lowered the barrier for individuals to invest in Bitcoin, offering a straightforward avenue for those new to cryptocurrency to engage without the complexities of holding the actual asset. ETFs, which can be traded through financial advisers or brokerage accounts, represent a bridge for traditional investors towards the crypto space.

A New Era for Bitcoin Investment
The enthusiastic reception of bitcoin ETFs and the significant role of retail investors in this new investment avenue underscore a pivotal moment for Bitcoin and the broader cryptocurrency market. While Grayscale’s GBTC saw some outflows upon transitioning to an ETF, the overall market response to these products has been overwhelmingly positive. Even the smallest funds are surpassing the break-even point in assets, indicating a widespread and genuine interest in Bitcoin investment through ETFs.

https://www.cryptometer.io/news/retail-investors-drive-bitcoin-etf-boom/

#BitcoinETF #HOTTRENDS

Bitcoin's momentum faces a critical test as ETF inflows slow, signaling a pivotal moment for the cryptocurrency's near-term price direction. Last week's record $2.6 billion in inflows to U.S.-listed spot Bitcoin ETFs, which supported Bitcoin's surge to near $74,000, has decreased, potentially indicating a price correction ahead. Despite this, optimistic forecasts suggest the possibility of a rebound and continued growth, with some projecting a significant rally if Bitcoin can stabilize.

For more details, read the full article here.
https://www.cryptometer.io/news/bitcoin-faces-crucial-test-as-etf-inflows-slow/

Ethereum’s Dencun Upgrade Marks a Significant Supply Milestone

On March 13, the Ethereum network underwent a pivotal upgrade known as Dencun, leading to a considerable decrease in the total supply of ether, marking its lowest level since August 2022. This significant development is part of Ethereum’s transition from a proof-of-work to a proof-of-stake model, a change that began with the much-discussed Merge upgrade.

Accelerated Decrease in Ether Supply

As reported by CNBC, the rate at which ether’s supply is decreasing has reached the fastest pace observed since May 2023. Over the past month, there has been a 0.872% annual decrease in supply, a sharp contrast to the 0.246% decrease noted since the Merge. This rapid reduction in ether supply is attributed to the increased activity on the Ethereum network, resulting in higher transaction fees and a larger amount of fees being burnt.

Since the Merge, the Ethereum network has seen over 1.56 million ether burned, with less than 1.12 million ether issued. This activity has led to a net decline of more than 446,000 ether, equivalent to nearly $1.62 billion.

Impressive On-Chain Metrics Amid Rising Activity

Despite growing interest in other networks like Solana, Ethereum’s on-chain metrics continue to impress. The network’s seven-day moving average of transactions is nearing its 12-month peak, with recent records showing 1.26 million transactions. Additionally, both active addresses and new addresses on Ethereum have hit their highest points for the year and over the past 12 months, respectively. Moreover, on-chain volume has exceeded $7 billion, showcasing the robust nature of Ethereum’s network amid this period of heightened activity and increased fees.

The Dencun upgrade not only marks a significant reduction in the supply of ether but also highlights Ethereum’s enduring strength and capacity to manage an elevated level of transaction activity.
by- https://www.cryptometer.io/news/ethereums-dencun-upgrade-marks-a-significant-supply-milestone/

Ether.Fi Token Sees Price Drop Post-Debut

Ether.Fi, known for its status as the largest liquid restaking protocol, witnessed a notable 20% drop in the value of its governance token, ETHFI, following its debut. Initially priced at $4.13, the token’s value decreased to $3.60 on Binance, reflecting a challenging start despite significant anticipation.

Token Distribution and Launchpad Staking

The launch involved an airdrop and a Binance Launchpad round, with 55.76% of ETHFI’s supply allocated to core contributors and investors. Binance Launchpad stakers, who had over $12 billion staked, received 20 million tokens from the distribution, illustrating the protocol’s strategy to reward its supporters. The first 45 minutes of trading saw a volume of over $118 million, highlighting the market’s initial interest.

Market Response and Supply Details

Following the launch, ETHFI’s market response mirrored the trend of other recently listed tokens on Binance’s launchpad, which also experienced post-release slumps. The token’s fully diluted value (FDV) adjusted to $3.6 billion, in line with its trading price. With a max supply capped at one billion tokens, the distribution plan includes significant allocations for both Binance Launchpad participants and a two-season airdrop schedule.

Investor and Contributor Allocations

Investors are set to receive 32.5% of the token’s total supply over a two-year vesting period, while core contributors have been allocated 23.26% over three years. The initial circulating supply of ETHFI stands at 115.2 million tokens, setting the stage for future market dynamics as more tokens enter circulation.

Ether.Fi’s Growing TVL and Restaking Strategy

Despite the initial price drop, Ether.Fi’s total value locked (TVL) has impressively surged by 117% over the last 30 days, with total deposits nearing $3 billion. This growth underscores the platform’s appeal in the restaking domain, where ether (ETH) stakers can generate additional yield through a liquid restaking token (LRT) and loyalty points convertible into token airdrops.

Solana Address Attracts $9.6M in SNAP Token Pre-Sale

In a remarkable show of community support and speculative investment, a Solana (SOL) address received over 53 million SOL,$ valued at more than $9.6 million, within just four hours. This influx of funds was triggered by an announcement from the address owner, known as Kero on X (formerly Twitter), about the pre-sale of a new token named SNAP on March 15.

The Appeal Behind Kero’s Funding Success

Kero’s request for a minimum of 1 SOL to participate in the SNAP token pre-sale quickly surpassed its 50 million SOL cap, leading to potential refunds for late contributors. Kero’s reputation as an NFT artist, known for creating the Rare Coco and Snappy Cocos collections, likely contributed to the eagerness of contributors. However, without the security of a smart contract escrow, participants have no assurance beyond Kero’s word that they will receive their SNAP tokens.

The Rise of Risky Meme Coin Pre-Sales

This event follows the trend of meme coin pre-sales initiated on platforms like X, where funds are directly sent to a promoter’s wallet without intermediary protections. The success of the Book of Meme (BOME) token pre-sale, which saw a user converting 50 SOL into 767 SOL following a 5,000% price increase, has inspired similar ventures, including Kero’s SNAP token.

Market Response and Potential Risks

The BOME token’s dramatic price surge and subsequent listing on centralized exchanges such as Gate.io, KuCoin, and MEXC underline the potential profitability of such ventures. However, the direct wallet funding model poses significant risks, with potential for loss if the promoters fail to deliver on their promises.

As the crypto community continues to explore novel fundraising models, the blend of enthusiasm for new projects and the speculative nature of meme coins calls for caution and due diligence from investors.
$SOL

by - https://www.cryptometer.io/news/solana-address-attracts-9-6m-in-snap-token-pre-sale/

India’s Finance Minister Asserts Crypto Cannot Be Currencies, Awaits G20 Framework
#HOTTRENDS #IndianCryptoTrends

Indian Finance Minister Nirmala Sitharaman reiterated the Indian government’s stance on cryptocurrencies at the India Today Conclave 2024, stating that crypto assets cannot be recognized as currencies. This declaration aligns with the view that central banks should issue currencies, while crypto assets can serve various purposes like trading, speculation, and profit-making. Despite the evolving landscape and Bitcoin’s price recovery, India’s position remains unchanged, emphasizing the need for regulation within a global framework.

India’s Call for International Crypto Regulation

Sitharaman highlighted the lack of regulation for crypto assets in India, underscoring the need for a collaborative international approach to address the challenges posed by the digital asset space. The finance minister’s advocacy for discussing crypto regulation within the G20 forum stems from concerns about cross-border payments, money laundering, and the potential misuse of crypto assets in illicit activities such as drug trafficking and terrorism financing.

Awaiting a Global Framework from G20

The issue of crypto regulation, raised by India at the G20, aims to foster the creation of an international framework. Such a framework is critical to ensuring a coordinated approach to crypto regulation, mitigating risks associated with unregulated cross-border crypto transactions. Sitharaman’s call for a collective stance on crypto regulation has been well received, with expectations that the G20 discussions will lead to the emergence of a cohesive regulatory framework.

As the world watches the developments from the G20 regarding crypto assets, India’s proactive stance underscores the importance of international cooperation in navigating the complexities of the digital asset ecosystem. The anticipation of a global regulatory framework reflects the need to balance innovation with security and stability in the rapidly evolving crypto market.

Binance CEO Predicts Bitcoin Surge to $80K Amid Rising Institutional Interest

https://www.cryptometer.io/news/binance-ceo-predicts-bitcoin-surge-to-80k-amid-rising-institutional-interest/