BIGCAP COINS:

1. Bitcoin: Market Cap of $1.2 Trillion.
2. Solana: Market Cap of $64.8 Billion.
3. Pepe: Market Cap of $2.1 Billion.

MIDCAP COINS:

1. Omni Network: Market Cap of $262 Million.
2. Ondo: Market Cap of $1.0 Billion.
3. Super Trump: Market Cap of $6.4 Million.

RISING COINS:

1. pepeCoin: Market Cap of $696 Million.
2. Pandora: Market Cap of $57.8 Million.
3. MOG Coin: Market Cap of $218 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The halving of Bitcoin is a significant event that occurs approximately every four years, effectively cutting the reward for mining new blocks in half. This event is part of the built-in monetary policy of Bitcoin to control inflation.

Starting from 2009, when the block reward was 50 bitcoins, the first halving in 2012 reduced the reward to 25 bitcoins. The trend continued in 2016 with the reward dropping to 12.5 bitcoins. The most recent halving in 2020 saw the reward fall to 6.25 bitcoins.

Looking ahead to 2024, the next anticipated halving will decrease the block reward to 3.125 bitcoins. These planned halvings gradually reduce the rate at which new bitcoins are generated, aiming for a total of 21 million bitcoins to ever be in existence, a cap expected to be reached by the year 2140. The halvings are crucial events that have historically impacted Bitcoin’s price and market dynamics, adding to the deflationary nature of the bitcoin.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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CryptoQuant’s CEO, Ki Young Ju, reports a dramatic 223% profit increase for Bitcoin’s long-term holders, known as “ancient whales.” This substantial rise in earnings arrives just as Bitcoin approaches a pivotal halving event in less than a day. Despite potential concerns about these major holders cashing out, the real risk seems to emanate from short-term holders, whose gains have dwindled nearly to zero, thereby reducing the likelihood of further selling.

As the market anticipates the halving, lower Bitcoin prices could trigger panic selling and liquidations among newer investors. In contrast, the seasoned whales remain largely unfazed, poised with robust triple-digit gains. Additional data reveals varied profit margins among other cohorts: new whales linked to traditional finance and ETFs marked a modest increase of 1.6%, small miners at 131%, and large mining companies at 81%. According to Ju, these figures suggest that the current profit cycle is far from over.

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The halving is a pivotal moment in Bitcoin’s monetary policy every four years, having massive implications for the economic viability of individual mining operations, the overall market dynamics of the asset, and generally the block alcohol content present in Bitcoiners’ bloodstreams.

Everyone celebrates the halving each cycle as a moment where Bitcoin becomes a more scarce asset, an event where historically the price has skyrocketed in reaction to the change in the issuance schedule and everyone waits with bated breath for history to repeat itself.

I’m sure everyone is all too familiar with these dynamics, so today as we all sit around waiting for block 840,000 to hit, let’s look…

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Ethereum, known primarily as a major digital currency, has recently made headlines by surpassing several S&P 500 companies in buyback yield, ranking an impressive 16th. This includes overtaking giants like Tesla and JPMorgan Chase. The significance of Ethereum’s achievement lies not only in its role as a smart contracts platform but also as a formidable player in the tech finance sector. Remarkably, Ethereum has reached this status in just about nine years, compared to the centuries-old histories of some firms on the list.

Token Terminal highlighted the success of Ethereum, emphasizing the potential of internet-native businesses when innovation is unbridled. As a leading figure in Web3, Ethereum continues to dominate in decentralized applications and DeFi, boasting a total value locked of $92.74 billion. With a series of planned upgrades, Ethereum is set to further solidify its position in the market, underscoring its pivotal role in shaping the future of finance and technology.

Data

Amid heightened market volatility, Bitwise CEO Hunter Horsley has ignited investor interest with his latest forecast on X, predicting Bitcoin’s rise to $100,000 post-halving. Horsley’s remarks come on the heels of the Bitcoin halving event on April 19, emphasizing the underappreciated impact of this periodic adjustment. Drawing on historical data, Horsley highlighted past surges following halvings, including a 5.4x gain in 2020 and even an 88x increase in 2012, setting a bullish precedent for the cryptocurrency’s future.

Today’s market movements reflect this optimism, with Bitcoin navigating through fluctuations yet closing in the green. Horsley’s analysis suggests a robust market uptrend driven by new demand and decreased selling pressure in 2024. His bold claim of a $100K Bitcoin, representing a 67% increase from current levels, has captured significant investor attention, suggesting a promising horizon for Bitcoin enthusiasts amidst today’s trading frenzy.

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$1M – $10M MarketCap:

1. Reboot (GG): 53%
2. Super Trump (STRUMP): 21%
3. Work X (WORK): 15%
4. Honk (HONK): 15%
5. Bork (BORK): 15%

$10M – $100M MarketCap:

1. higher (HIGHER): 71%
2. Railgun (RAIL): 65%
3. Nuklai (NAI): 61%
4. Taraxa (TARA): 31%
5. Whales Market (WHALES): 28%

$100M – $1B MarketCap:

1. Ontology Gas (ONG): 46%
2. Ontology (ONT): 35%
3. MOG Coin (MOG): 35%
4. Propy (PRO): 35%
5. Jito (JTO): 30%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Ethereum is set to hit $1 billion in annualized profits after reporting a robust $365 million in the first quarter of 2024, marking a significant 200% increase from the last quarter of 2023. The network’s fee revenue has skyrocketed to $1.17 billion, fueled by a 155% year-on-year growth. This financial surge is largely attributed to heightened DeFi activity, pushing daily transactions to exceed last year’s figures and nearing the highs of 2021.

Further buoying the crypto market, Michael Nadeau of The DeFi Report predicts that cryptocurrencies will outshine all other asset classes in the coming years. He cites favorable liquidity conditions, upcoming rate cuts by the Federal Reserve, and innovations such as the U.S. Bitcoin ETFs and the imminent Bitcoin halving as catalysts for a bullish crypto market. Ethereum’s shift to a proof-of-stake consensus in 2022 has also significantly reduced costs, contributing to its profitability and positioning it as a leader in the crypto innovation cycle.

Report

SkyBridge Capital’s Anthony Scaramucci shared his bullish outlook for Bitcoin on CNBC’s “Squawk Box,” predicting the cryptocurrency could soar to $200,000 following the imminent halving event. The halving, which reduces the reward for Bitcoin mining by half, has historically spurred significant price increases. Scaramucci highlighted the current market enthusiasm, bolstered by new Bitcoin ETFs and a surge in market entrants, suggesting a minimal downside risk of 10-15% against a considerably higher potential upside.

Scaramucci also emphasized Bitcoin’s robust growth potential, noting its young age in terms of adoption and predicting it could eventually match the market cap of gold, valued at approximately $16 trillion. With the regulatory environment evolving to accommodate cryptocurrencies more fully, he suggested that even a modest allocation of 1% in global portfolios could dramatically escalate Bitcoin’s valuation. According to him, holding Bitcoin for extended periods historically guarantees positive returns, reinforcing its viability as a long-term investment.

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