82. Bitcoin - breaking a downtrend
Bitcoin has had a tough April. Could this trend-line break signal a stronger May?
Bitcoin has had a consolidating April, and could be setting up nicely for a breakout in May.
Crypto Corner
Interpol Nigeria reports that extradition papers are prepared for Binance's Anjarwalla. However, it's unclear if he's currently held in Kenya, although he was last seen there.
An exploiter managed to steal $68 million worth of crypto by employing address poisoning tactics. The victim was deceived through a replicated 0.05 ether transfer.
After debuting version 2 of its platform and conducting an airdrop of its native token, FRIEND, Friend.Tech faced a setback as the token's value plummeted to $2.5 early on Friday.
Untangled, a tokenized private-credit platform, launches its inaugural USDC lending pool on Celo, marking a significant step in the asset tokenization movement, which has seen over $600 million in on-chain assets.
NFT Spotlight
NFT of the week: Azalea
Ethereum leads the daily NFT sales with a volume of $7 million, marking the end of the weakest month of 2024 for NFT sales. Despite this, the year-over-year growth stands at an impressive 56%.
The founders of rabbit r1, a project aimed at competing with smartphones, are also reportedly involved in the launch of a failed NFT project, which they are attempting to conceal from the public eye.
TOZ Universe and ALTAVA are joining forces to innovate digital fashion within the ANIPANG world.
Casio celebrates its 50th anniversary by launching an NFT collection.
Bitcoin Buzz
Jack Dorsey's company, Block, is doubling down on Bitcoin, announcing plans to add more of the cryptocurrency to its balance sheet.
Despite U.S. job additions for April falling short of forecasts at 175,000 compared to the expected 243,000, Bitcoin has managed to rise above $60,000. This news comes amidst strong increases in interest rates and the dollar earlier in 2024, driven by expectations of economic slowdown and inflation, which may now be showing signs of shifting trends.
MicroStrategy announces plans for a Bitcoin-based decentralized identity system, utilizing ordinals for enhanced security and privacy. Their "Orange For Outlook" application integrates digital signatures into emails, enabling identity verification for senders.
Bitcoin Miners’ Marvels
Senators Elizabeth Warren and Angus King have raised concerns with top national security officials regarding Iran's use of cryptocurrency mining to evade sanctions pressure.
Bitcoin miner Stronghold is exploring various options, which may include selling all or part of the company, as well as other strategic transactions.
Riot Platforms reported a net income of $211.8 million in the first quarter of 2024, although it fell short of revenue expectations.
CryptoQuant suggests that miners may capitulate if Bitcoin fails to recover significantly.
Quote Of The Week:
“None but ourselves can free our minds” -Bob Marley
Have an awesome weekend everyone!