Over the last three months, significant Bitcoin stakeholders, those holding between 100 to 100,000 BTC, have dramatically increased their holdings by acquiring an additional 319,310 BTC. This increase accounts for approximately 1.4% of Bitcoin’s total supply. Remarkably, a considerable portion of these newly acquired Bitcoins originated from smaller wallets holding less than 100 BTC. These smaller wallets have seen a reduction in their Bitcoin holdings by 105,260 BTC, marking a decrease of 0.7% of the total supply.

This shifting dynamic in Bitcoin ownership signals a bullish outlook for the cryptocurrency market. Large investors, also known as “whales,” are seemingly optimistic about Bitcoin’s future value. This trend is particularly noteworthy as it precedes the much-anticipated Bitcoin halving event scheduled for April 19th. The halving, which reduces the reward for mining new blocks, is historically associated with increases in Bitcoin’s price, further underlining the confidence of major stakeholders in the cryptocurrency’s potential growth.

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A new wave of enthusiasm sweeps the crypto industry as venture capital investments spike in the first quarter of 2024, reveals a Crypto Koryo survey. Bucking a two-year downturn, investments hit nearly $2 billion, up 38% from the last quarter of 2023, and backed 250 crypto projects, a 49% jump. This resurgence, the most vigorous since the $14 billion peak in late 2021, hints at the dawn of an upturn after a slump triggered by high-profile crypto crises.

The landscape saw diverse funding interests, with major players like a16z and OKX Ventures leading the charge. Notable fundraisers included Hashkey and EigenLayer, each securing $100 million. Ethereum emerged as the favored platform, hosting over 50 VC-funded projects, while Solana gained traction from meme coin offerings. This period marks a significant recovery, particularly when contrasted with the modest 2.5% funding increase and a slight drop in deal volumes reported by Pitchbook for Q4 2023, signaling a potential rebound in the crypto venture capital scene.

Crypto Koryo

Cardano (ADA), powered by IOHK, has hit a new milestone with 88.6 million transactions, marking its expanding influence in the blockchain world. The project’s recent update brings significant improvements across various sectors, showcasing a strong commitment to growth and development. Key enhancements aim at boosting cross-era functionality, with notable progress in LocalTxMonitor and HasTx features.

As Cardano gears up for the node release v.8.10, it’s making strides in consensus, Ledger, and networking components, emphasizing a reliable infrastructure. The introduction of Lace v.1.9 adds multi-wallet and multi-account options, elevating user experience.

The project’s recent review meeting saw updates from the Hydra and Mithril teams, focusing on enhancing transaction capabilities and forward compatibility. Additionally, IOHK’s report reveals a vibrant ecosystem with 164 projects launched, 1,353 under development, and over 9.86 million native tokens, underlining Cardano’s significant growth and its critical role in the crypto landscape.

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Bitcoin exchange-traded funds (ETFs) have swiftly captured more than 4% of the entire Bitcoin supply in under three months, a rapid accumulation following the U.S. Securities and Exchange Commission’s (SEC) approval of several spot Bitcoin ETFs and the conversion of the Grayscale Bitcoin Trust into an ETF. The latest data from IntoTheBlock’s “On-chain Insights” newsletter highlights this unprecedented absorption, marking a significant shift in the cryptocurrency landscape. The entry of Bitcoin ETFs has not only elevated Bitcoin to new all-time highs but has also amplified the demand across the crypto spectrum, making it easier for investors to dive into Bitcoin without the technical hurdles of exchanges and private key management.

Lucas Outumuro, the Head of Research at IntoTheBlock, notes the pivotal role of these financial tools in demystifying Bitcoin investments, attracting a broader base of both institutional and retail investors. With an increase of 220,000 BTC ($14.2 billion) held by large-scale investors, and 210,000 BTC directly flowing into ETFs, the market has seen a surge in holdings among addresses with at least 1,000 BTC to levels not observed since June 2022. This shift underscores the growing influence and appeal of Bitcoin ETFs in the financial market.

IntoTheBlock

Introduction

As we approach the conclusion of the third epoch, the countdown to the next Bitcoin halving is firmly underway. The halving (also known as the “Halvening”) is one of the most important and innovative features of Bitcoin. Every 10 minutes, the Bitcoin network issues new bitcoin and approximately every four years (every 210,000 blocks, to be precise) the amount issued (the “block subsidy”) is cut in half. The block subsidy is the reward miners receive for validating and recording new transactions on the blockchain.

The halving of the block subsidy is a critical factor in bitcoin’s eventual capped supply of 21 million bitcoin. In addition, miners also collect…

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Satoshi Nakamoto, the creator of Bitcoin, has become a legend in the tech world. Releasing Bitcoin as open-source software, Nakamoto invited the world to join in the development and refinement of this groundbreaking technology. As the first anonymous entity to potentially amass a decabillionaire status through early Bitcoin mining, Nakamoto’s wealth remains untouched, suggesting a disinterest in material gains.

Nakamoto’s contribution went beyond software creation; they provided the initial electricity for Bitcoin’s operations and later, in a grand gesture of philanthropy, are believed to have donated all their coins. Solving the double-spending problem, a challenge that had perplexed computer scientists for 50 years, Satoshi established a trustless digital currency system.

Preferring obscurity, Satoshi refrained from revealing their identity and withdrew from the Bitcoin project, leaving behind a burgeoning digital currency ecosystem. Their disappearance is as much a part of their legacy as their creation, embodying the ultimate ethos of privacy and decentralization in the digital world.

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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Coinbase’s latest market analysis shines a light on Bitcoin’s ascent as the new ‘digital gold,’ driven by the Federal Reserve’s cautious approach to interest rate cuts. The report underscores the increasing allure of Bitcoin for investors seeking a buffer against economic uncertainties, thanks to the Fed’s recent hints at a judicious rate adjustment strategy. Institutional Research Analyst David Han emphasizes Bitcoin’s burgeoning role in attracting investments, as its standing as a digital counterpart to traditional gold becomes more pronounced amidst ongoing market recalibrations.

This strategic positioning is further bolstered by the introduction of spot Bitcoin ETFs in the US, offering a new avenue for enhancing Bitcoin’s attractiveness by facilitating access and possibly dampening price volatility through greater institutional engagement. Han points out that this development, alongside Bitcoin’s comparison to gold in uncertain economic times, heralds a new phase of recognition and stability for Bitcoin. The broader implications for market volatility, investment strategies, and the crypto market’s maturity are significant, marking a departure from previous market cycles and underlining Bitcoin’s evolving narrative in the financial landscape.

Coinbase Research

Decentralized crypto exchange Uniswap Labs has achieved a monumental milestone, with its trading volume exceeding $2 trillion. Standing as Ethereum’s most influential DeFi application since its inception in 2018, Uniswap has cemented its status as the leading decentralized exchange in terms of trading volume. This achievement was shared on the social media platform X, highlighting the exchange’s significant role in the decentralized finance (DeFi) landscape. Uniswap’s recent data shows a daily trading volume of nearly $2.9 billion, reflecting its vast usage within the Ethereum blockchain ecosystem.

Distinguished from traditional, profit-centric exchanges like Coinbase and Binance, Uniswap operates on a decentralized, open-source protocol. This approach fosters a more democratic and transparent trading environment. Recently, the Uniswap Foundation proposed governance enhancements to further incentivize participation. These changes aim to benefit users who contribute to the platform by delegating and staking their UNI tokens, demonstrating Uniswap’s commitment to fostering an engaged and rewarded community.

Twitter

Introduction

Ninety-one years ago today, President Franklin D. Roosevelt pulled off the greatest heist in American history.

Unlike most robberies, this one was entirely legal. No safe-cracking was required; no ski masks, guns, or getaway cars. Just a pen and some White House letterhead.

On April 5 1933, FDR issued Executive Order 6102, making it illegal for anyone in the United States to own gold. By penalty of up to a $10,000 fine or 10 years in prison, everyone in the country was ordered to turn in their gold to the government, by the end of the month.1

EO 6102 is one of the most important milestones in the history of money. Book-ended by the creation of the Federal Reserve in 1913, and the…

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BIGCAP COINS:

1. Bitcoin: Market Cap of $1.3 Trillion.
2. dogwifhat: Market Cap of $3.3 Billion.
3. Solana: Market Cap of $77.7 Billion.

MIDCAP COINS:

1. Wormhole: Market Cap of $1.7 Billion.
2. Meme AI Coin: Market Cap of $5.5 Million.
3. Ethena: Market Cap of $1.3 Billion.

RISING COINS:

1. PepeFork: Market Cap of $135 Million.
2. Grok: Market Cap of $80.9 Million.
3. Node AI: Market Cap of $208 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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