🇺🇸 US 💰 Bitcoin Mining Stocks Surge After the Halving

On Monday, crypto-related stocks in the United States saw significant increases, reflecting a broader market rally just days after the Bitcoin halving. According to data from Google Finance, the country’s five largest publicly traded Bitcoin miners, including Marathon Digital (MARA), CleanSpark (CLSK), Riot Platforms (RIOT), Cipher Mining (CIFR), and Hut 8 (HUT), all witnessed substantial gains over the April 22 trading day.

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💰 Mt. Gox's Looming $9B Payout Could Weigh on Bitcoin Prices, K33 Research Warns

The crypto market has mostly shrugged off last week's correction, but there's a possible catalyst ahead that could weigh on prices through the next few weeks, putting a rally higher in jeopardy. Mt. Gox, a crypto exchange that imploded due to a hack in 2014, is gearing toward distributing 142,000 bitcoin (BTC) worth roughly $9.5 billion and 143,000 bitcoin cash (BCH) worth $73 million to creditors, posing a substantial overhang on digital asset prices.

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💰 Bitcoin Runes made up 57.7% of transactions on halving day

Bitcoin halving, Runes have sparked intense debate and speculation by embedding rich data within Bitcoin's ledger, shifting how users interact with the blockchain. By leveraging transaction augmentation, Runes can enhance transactions with diverse data, from simple messages to complex scripts, showing a remarkable capability distinct from other Bitcoin-enhancements like Ordinals and BRC-20 tokens.

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🪙 Tether Will Freeze Venezuelan Wallets Being Used to Evade US Sanctions

Tether has announced that all wallets associated with Venezuela’s attempts to bypass U.S. sanctions on oil exports will be frozen. The decision follows recent reports indicating an increased use of Tether’s USDT by Venezuela’s state-run oil company, PDVSA, to avoid sanctions imposed by the United States. According to a Reuters report, Venezuela’s state-run oil company, PDVSA, transitioned to using Tether’s USDT after facing renewed sanctions on its oil exports.

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💰 ViaBTC's 'epic sat' from fourth Bitcoin halving block sells for 33.3 BTC ($2.13 million)

An "epic sat"—an exceptionally rare satoshi, the smallest unit of bitcoin, from Bitcoin's fourth halving block—sold for over $2 million. This milestone not only signifies Bitcoin's fourth halving but also includes a block identified as an epic 'Rare Satoshi' by the Ordinals numbering system," CoinEx Global wrote on the satoshi's auction page, adding on social media, "This auction isn't just a bidding event; it marked the community recognition, media attention and widespread embrace of Bitcoin."

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💰 Bitcoin options 'in line with previous halvings' and bullishly pricing calls higher than puts: analyst

The positioning of bitcoin options is in line with previous halvings, with the market skewing bullish and pricing calls at higher levels versus puts for the end-of-June 2024 expiry, an analyst said. A put-call options ratio below one indicates that the call volume exceeds the put volume, signifying bullish sentiment in the market. The bitcoin put-call skew is negative as of May and beyond, which means calls are relatively more expensive — indicating bullish sentiment.

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💰 Bitcoin Breaks Daily Transaction Record Days After Halving

The new record comes three days after the Bitcoin Halving, coinciding with the launch of Runes. The launch of Runes sparked a rapid increase, demonstrating growing interest and utility in cryptocurrencies, setting a new all-time high in Bitcoin’s transaction activity. Runes, a new token standard on the Bitcoin blockchain, has dominated transactions since its launch following the halving on April 20, accounting for over two-thirds of all Bitcoin transactions. With more than 2.38 million transactions processed, Runes make up 68% of the total.

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🪙 Transaction Fees Plunge to 35% of Bitcoin Miner Revenue Post-Halving: CryptoQuant

Transaction fees have fallen from $80 million on the halving day to $6 million as of April 26. The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event. A CryptoQuant report revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19.

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💰 VanEck lead charge as Australia prepares for Bitcoin ETF launch

Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the year after receiving applications from notable players like VanEck, BetaShares, and DigitalX. Meanwhile, this upcoming launch would mark Australia’s second wave of such products. In 2022, the country witnessed the introduction of various crypto ETFs from entities like Cosmos Asset Management and Global X 21Shares.

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🪙 Consensys vs. SEC litigation over whether ether is a security 'will take years': TD Cowen

Ethereum developer Consensys brought the U.S. Securities and Exchange Commission to court, seeking a declaration that ether is not a security. This legal battle will be a prolonged affair, according to investment bank TD Cowen. As a result, the bank reiterated that spot Ethereum exchange-traded funds are unlikely to gain approval before 2025. SEC Chairman Gary Gensler is "okay" with the court deciding whether ETH is a security or commodity, according to TD Cowen.

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💰 Ripple teams up with HashKey DX on blockchain-based supply chain finance in 🇯🇵 Japan

Crypto firm Ripple is expanding its XRP Ledger (XRPL) enterprise solutions to Japan through a strategic collaboration with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, according to an April 30 statement. In this partnership, HashKey DX will work alongside Ripple and SBI Ripple Asia—a collaboration between SBI Holdings and Ripple—to develop and implement supply chain finance solutions tailored for the Japanese market.

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📉Crypto scams hit historic low in April, plummeting 68%

Crypto-related exploits and scams plummeted 68% in April compared to the previous month, reaching a historic low of $25.7 million, according to blockchain security firm CertiK. A breakdown of the incidents showed that the bulk of the losses, totaling $21 million, stemmed from exploits targeting blockchain protocols. Additionally, users suffered losses of $4.3 million due to exit scams and rug pulls orchestrated by malicious founders, with flash loans contributing a nominal $129,000 to the overall figure.

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🔵 Coinbase Adds Support for 🥇 Bitcoin Lightning Network

The largest American cryptocurrency exchange, Coinbase, has added support for the Lightning Network on its platform to enable faster and cheaper payments. According to a blog post, the Lightning Network integration on Coinbase will reduce the cost of sending bitcoin (BTC) globally by 20x compared to the 2% charged on United States credit card transactions and the $30 paid for wire transfers.

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💰 Bitcoin's average daily transaction fees fall back to 🪙 Ethereum levels after Runes hype subsides

Average daily Bitcoin transaction fees have fallen back to the same level as Ethereum after the frenzy of activity surrounding the launch of the Runes protocol died down after the halving. The seven-day moving average of daily Bitcoin transaction fees surged to an all-time high of $25.8 million on April 24, more than five times the daily transaction fees Ethereum was generating at the time. However, it subsequently fell to $4.1 million on Wednesday — the same daily transaction fee average as Ethereum.

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💰 Hybrid L2 Build on Bitcoin Launches Mainnet; US Users Face Geo-Blocking

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. The X account further announced that an additional cohort of over 40 apps will integrate into the BOB ecosystem within the next two to three weeks.

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💰 BitMEX co-founder Arthur Hayes believes Bitcoin may rally back toward $70,000 amid 'stealth money printing'

Arthur Hayes, the co-founder and former CEO of BitMEX who now manages a family office named Maelstrom, said he expects bitcoin to rally back to $60,000, then range between $60,000 and $70,000 until August. In a blog post early Friday, Hayes said the slow addition of billions of dollars of liquidity each month would dampen negative price movements going forward, reversing the common sentiment on the seasonality of markets by suggesting “buy in May, go away.”

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⚪️ Paypal Partnership Allows US-Based Moonpay Users to Buy Crypto With Their Paypal Accounts

The digital asset trading platform, Moonpay, announced on May 2 that it had formed a partnership with Paypal. This partnership will allow U.S. users to purchase cryptocurrency using their Paypal accounts. Users of Moonpay can benefit from the security offered by Paypal, a payment provider known for sharing comprehensive financial information about transactions.

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🆘 Cryptocurrency investor loses $70 million in six hours: Address poisoning attack

A cryptocurrency investor has fallen victim to an address poisoning attack, resulting in a staggering loss of $70 million worth of Wrapped Bitcoin (WBTC). The incident, which unfolded over the course of around six hours, has sent shockwaves through the cryptocurrency community. According to a post by Lookonchain on the X, the unfortunate investor created a new address, “0xd9..,” and transferred a small amount of Ethereum (ETH), approximately 0.05 ETH, to this newly generated destination.

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💰 Bitcoin will ‘propel the next leg up’ if key trading pattern confirms — Traders

Bitcoin’s price could see a bullish trend reversal and “propel the next leg up” if the popular trading indicator known as the inverse head-and-shoulders pattern is confirmed, according to a crypto trader. “If we don’t break straight through $67.5k then something like this forming over the next month would make sense for a bottom pattern reversal,” crypto trader Matthew Hyland explained in a May 4 post on X.

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