🌙 1 Week Until Bitcoin Halving

Set for April 19, the halving will cut miner rewards from 6.25 to 3.125 bitcoins per block, potentially increasing Bitcoin's value through heightened scarcity and reduced new supply.

Author

Mike Gavela
April 11, 2024

Crypto Roundup - Apr 11

As the Bitcoin community anticipates the mid-April 2024 halving, which will slash miner rewards from 6.25 to 3.125 bitcoins per block, significant interest from institutional investors is underscored by robust inflows into spot Bitcoin ETFs. This scenario is poised to decrease Bitcoin's daily issuance and potentially increase its market price due to heightened scarcity. Concurrently, Chinese investors are gearing up to re-enter the market, encouraged by Hong Kong's pending approval of Bitcoin ETFs, which marks a significant regulatory shift and could inject new dynamism into the global crypto landscape. Additionally, innovations such as Bitcoin Ordinals and other layer-2 solutions are expanding Bitcoin's utility beyond a mere currency, promising to reshape its economic model and enhance its transactional capabilities post-halving.

Top stories:

  • Anticipated Bitcoin Halving: Set for April 2024, the halving will cut miner rewards from 6.25 to 3.125 bitcoins per block, potentially increasing Bitcoin's value through heightened scarcity and reduced new supply.

  • Surge in Bitcoin ETFs: The recent U.S. approval and substantial inflows into spot Bitcoin ETFs are set to absorb much of the new Bitcoin produced daily. This influx is expected to stabilize and possibly elevate market prices, especially as the halving nears.

  • Hong Kong Opens Doors to Crypto ETFs: As Hong Kong moves to approve Bitcoin ETFs, Chinese investors are presented with a renewed opportunity to engage with the crypto market, promising a revival in regional investment activities and a broader global participation in cryptocurrency trading.

TOP STORIES

Here’s what the current state of Bitcoin development looks like ahead of the halving

Many Bitcoin developers are looking to increase interest in the network via tools that will allow more users to join the blockchain ecosystem.

blockworks.co/news/state-of-bitcoin-development-ahead-of-halving

Spot bitcoin ETF flows turn positive again as GBTC outflows taper

GBTC’s net outflows of $17.5 million on Wednesday mark the fund’s lowest in a single day since it converted to an ETF on Jan. 11.

blockworks.co/news/spot-bitcoin-etf-flows-gbtc

Chinese investors eye return to crypto with Hong Kong poised to approve Bitcoin ETFs

News that Hong Kong regulators are preparing to approve spot price Bitcoin ETFs is roiling the Asian crypto market.

www.dlnews.com/articles/markets/chinese-investors-eye-return-to-crypto-with-hong-kong-poised-to-approve-bitcoin-etfs

FUNDRAISES

OTHER HEADLINES

Generation Z and millennials choose crypto over stocks — Report

Data shows “younger generations store their wealth differently than their Gen X and boomer counterparts.”

cointelegraph.com/news/generation-z-and-millennials-choose-crypto-over-stocks-report

Montenegro’s Justice Minister to decide on Do Kwon’s extradition after court ruling

Montenegrin Justice Minister Andrej Milović will reportedly decide on whether Do Kwon is to be extradited, depending on whether his legal team files another appeal.

cointelegraph.com/news/montenegro-do-kwon-extradition-court

The SEC’s Suit Against Uniswap Is an Opening Attack Against DeFi

The DEX received a Wells Notice from the regulator, suggesting an enforcement action is imminent. While we don’t know the nature of the potential charges, the news raises the threat of legal jeopardy for decentralized finance.

www.coindesk.com/consensus-magazine/2024/04/11/the-secs-suit-against-unswap-is-an-opening-attack-against-defi

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