The digital asset landscape is currently undergoing a significant phase of Bitcoin accumulation among both small-scale retail investors, known as “Shrimps,” and larger investors, referred to as “Sharks.” Shrimps, who own less than one Bitcoin, have notably intensified their buying activity, adding 16,769 BTC to their holdings in the last month alone. This surge brings their total Bitcoin possession to approximately 1.37 million BTC, marking the most aggressive accumulation phase since November 2023, data from Glassnode reveals.

Conversely, the Shark cohort, consisting of high-net-worth individuals and institutional players with 100 to 1,000 BTC, has also been actively increasing their stakes. Over the past 30 days, they’ve amassed an additional 268,441 BTC, elevating their collective holdings to 3.5 million BTC. This represents the largest accumulation move recorded since 2012, showcasing a robust confidence across varying investor profiles in the potential of Bitcoin, as per the latest insights from Glassnode.

 Glassnode

$1M – $10M MarketCap:

1. ZoidPay (ZPAY): 69%
2. Kermit (KERMIT): 61%
3. Lynex (LYNX): 41%
4. OrangeDX (O4DX): 39%
5. Parex (PRX): 24%

$10M – $100M MarketCap:

1. Ring AI (RING): 155%
2. Kryptomon (KMON): 105%
3. SafeMoon (SFM): 61%
4. Doland Tremp (TREMP): 58%
5. Qredo (QRDO): 43%

$100M – $1B MarketCap:

1. The Doge NFT (DOG): 42%
2. LimeWire (LMWR): 37%
3. cat in a dogs world (MEW): 35%
4. Ravencoin (RVN): 32%
5. Degen (Base) (DEGEN): 28%

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.

Join CryptoCrunchApp on Telegram Channels – Click to Join

Taiwan’s Ministry of the Interior has given the green light for the formation of a cryptocurrency industry association, marking a significant step towards regulatory oversight in the country’s crypto sector. The approval follows an application from a local crypto industry working group, comprising 22 crypto firms, including major exchanges like MaiCoin and BitoPro. The working group aims to establish the association by the end of June, with a focus on developing self-supervisory rules based on guidelines provided by the Financial Supervisory Commission (FSC). This move comes as Taiwan seeks to regulate its crypto industry amidst existing anti-money laundering laws and recent guidelines emphasizing customer protection. By setting up the industry association, crypto firms hope to enhance regulatory compliance and foster a safer environment for cryptocurrency services in Taiwan, ultimately advancing towards self-regulation in the crypto sector.

The formation of Taiwan’s cryptocurrency industry association signals a proactive approach by the government to address regulatory concerns and promote transparency in the rapidly evolving crypto landscape. With support from major industry players, the association aims to establish best practices and standards for the local crypto industry, aligning with global efforts to ensure the responsible growth of digital assets.

Brazil’s B3 Exchange has announced it received approval from the country’s securities watchdog to launch bitcoin futures trading, starting April 17. This new offering adds to B3’s already available crypto-related products, including exchange-traded funds (ETFs) and ETF receipts. While the exact launch date could shift, the futures will be linked to the Nasdaq Bitcoin Reference Price, and each contract will represent 10% of bitcoin’s value in Brazilian reais.

Felipe Goncalves, B3’s superintendent of swap rates and currency products, stated the futures aim to fulfill the market’s need for a tool to manage the volatility of bitcoin prices or to invest in its future direction without the physical exchange of bitcoin. These futures will be financially settled, emphasizing that traders won’t deal in actual bitcoin but rather in contracts based on its price. This move underscores B3’s commitment to diversifying its financial products and catering to the growing interest in cryptocurrency investments.

Reuters

Bitcoin and gold have marked significant gains in the first quarter of 2024, with Bitcoin surging over 60% to trade above $70,000, nearing its all-time high of around $73,500. Meanwhile, gold also showcased strength, increasing by more than 7% and trading at over $2,200, close to its peak. This impressive performance reflects a solid investor confidence in both assets as safe havens. Notably, their correlation has soared to 0.88 over the past five years, highlighting one of the strongest connections seen between the two, suggesting that investors view them as comparable protective investments.

Amidst this backdrop, Gold ETFs have witnessed a turnaround, with inflows picking up in the past week after earlier outflows in 2024, according to BOLD.report. This shift, possibly inspired by the triumphs of Bitcoin ETFs, indicates a realignment of investor interest towards gold’s high values. With both Bitcoin and gold continuing their robust performance, their parallel roles in investment portfolios stand out more than ever, offering alternative options in a fluctuating market environment.

BOLD.report

Bitwise has taken a significant step in the cryptocurrency market by submitting an application for a spot Ethereum exchange-traded fund (ETF), sparking discussions about when the U.S. Securities and Exchange Commission (SEC) might approve such products. The application for the Bitwise Ethereum ETF was officially filed with the SEC, highlighting a strategic move in the crypto finance sector. This initiative follows remarks from Bitwise’s Chief Investment Officer, Matt Hougan, suggesting a cautious approach to the SEC’s potential approval of these new financial instruments in the upcoming May. The context of this application is particularly noteworthy considering the recent success of spot Bitcoin ETFs, which began trading in January and have since amassed over $150 billion in trading volume, receiving widespread acclaim for their performance.

S-1 form 

Bybit, a major player in the cryptocurrency exchange market, has announced a significant expansion into the Netherlands by launching Bybit.nl, a regulated digital asset platform, in collaboration with SATOS. This strategic move enables Dutch users to access a vast array of over 300 trading pairs, alongside fiat onramps and numerous advanced features, all within a regulatory-compliant framework. Ben Zhou, Bybit’s co-founder and CEO, highlighted the launch as a milestone in their commitment to user service and regulatory adherence. Partnering with SATOS, a trusted crypto service provider under the Dutch National Bank’s supervision since 2013, Bybit aims to offer secure, seamless trading experiences enriched with versatile tools, community support, and a bridge to Web3 services.

Despite its growth and expansion, including a notable increase in market share as reported by Crypto Briefing, Bybit faced challenges, such as being labeled a “suspicious crypto platform” by Hong Kong’s Securities and Futures Commission for operating without a license. This launch in the Netherlands marks Bybit’s continued efforts to strengthen its global presence while ensuring compliance and security for its users.

Source