Bitcoin Sets New Record, Surpasses $71K Milestone
Bitcoin continues its upward trajectory, breaking the $71,000 barrier for the first time in history! The latest surge follows a period of sustained bullish momentum driven by increasing institutional adoption and positive market sentiment.
BTC rallied over 10% during the past week and 47% during the past month, according to CoinMarketCap data.
Bitcoin hit a new all-time high 36 days before the much anticipated Bitcoin halving set to occur on April 20, which will see mining rewards reduced from 6.25 BTC ($418,800) to 3.125 BTC ($209,400).
Ethereum's Dencun Upgrade Scheduled for Launch in 2 Days
Ethereum's highly anticipated Dencun upgrade is set to go live in just two days, marking a significant milestone for the Ethereum network.
Ethereum’s Dencun upgrade could be a milestone for layer-2 scaling solutions, as it is expected to significantly reduce the transaction fees of layer-2 networks and enhance Ethereum’s overall scalability.
The Dencun hard fork integrated a total of nine different Ethereum Improvement Proposals (EIPs). The name of the upgrade is a combination of the Cancun upgrade of Ethereum’s execution layer and the Deneb upgrade on the consensus layer.
London Stock Exchange Embraces Bitcoin and Ethereum ETNs
In a landmark development, the London Stock Exchange (LSE) announces its decision to accept Bitcoin and Ethereum Exchange-Traded Notes (ETNs), signalling the growing acceptance of crypto assets in traditional financial markets. However, the exchange did not provide the exact date that it will start accepting applications.
An ETN is widely considered a soft alternative to exchange-traded funds (ETFs). Unlike the ETFs, an ETN is a debt instrument backed by its issuers rather than a pool of assets. ETFs often focus on esoteric debt strategies that do not easily fit into funds.
BlackRock Bitcoin ETF Outpaces MicroStrategy Holdings
BlackRock's Bitcoin exchange-traded fund (ETF) has surpassed MicroStrategy's Bitcoin holdings in terms of total BTC holdings, underscoring the increasing institutional interest in Bitcoin as a long-term investment asset.
The milestone highlights the growing prominence of Bitcoin ETFs as a preferred investment vehicle for institutional investors seeking exposure to the crypto market.
Excluding Grayscale’s GBTC, the newly launched Bitcoin ETFs collectively hold assets valued at $28 billion as institutional demand continues to drive the cryptocurrency upward.
Singaporean Fintech Unveils USDC-Powered Visa Card with Fiat24
Singapore-based fintech company unveils a new Visa card powered by USDC (USD Coin), in collaboration with Swiss bank Fiat24.
The innovative payment solution allows users to create a USDC mobile wallet, where the funds can then be sent to accounts at traditional financial institutions. In addition, users can swap crypto across more than 40 blockchains into their bank accounts and use fiat money, like the U.S. Dollar, Euro, or Swiss Franc, for transactions and expenses.
The partnership marks a significant step towards mainstream adoption of stablecoins and their integration into traditional banking services.
That’s all for this edition of our crypto newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!
