Just 12 days ago, the long-awaited Bitcoin halving finally took place. The crypto enthusiasts eagerly anticipating a massive bull run to push the OG crypto to $100K. However, in a twist, Bitcoin defied expectations, taking an unexpected nosedive to $56K before regaining some ground to settle at $57.8K (at the time of writing). What could have possibly triggered such a dramatic shift in the market's trajectory? Is this merely a temporary blip or is more turbulence on the horizon? As the crypto community struggles to make sense of this situation, one thing is abundantly clear: the crypto space is never short on surprises. And with that in mind, we are here to keep you updated on today's top stories. Here is a quick rundown of the headlines: |
- Standard Chartered warns of potential $50K bear case for Bitcoin. But what triggered this bearish prediction from the banking giant? 🤔
- Tether mints a staggering $4.5B profit in Q1 2024 with a massive $11.37B net equity. Where will they invest these funds? 💰
- Chainlink partners with Rapid Addition to develop an institutional trading adapter. How will this tech work? 🏦
- White hat hacker awarded $250K bounty by Curve Finance for critical vulnerability. Was the flaw too severe? 🐛
- Fantom launches $6.5M prize pool for "safer" memecoins . Will Fantom becomethe hub of safe memecoin investments? 🫡
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Let's dive deeper into each of these stories! |
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| | GLOBAL MARKET CAP | | $2.19T | | ▲2.46% (24h) | | | 24H MARKET VOLUME | | $88.25B | | ▼14.74% (24h) | | |
| | BITCOIN'S DOMINANCE | | 52.39% | | ▼0.6% (24h) | | | FEAR & GREED INDEX | | 47 | | Neutral | | |
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 | Bitcoin | | | $58,288.46 | | ▲1.34% (24h) | |
|  | Ethereum | | | $2,988.18 | | ▲3.6% (24h) | |
|  | BNB | | | $559.56 | | ▲2.22% (24h) | |
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Data as of: 02 May 2024 11:35 UTC |
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 | TOP GAINERS | 24H% | | | | | | | | |
|  | TOP LOSERS | 24H% | | | | | | | | |
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Beware the $50K Bear Case? |
For Bitcoin's feverishly bullish devotees dreaming of fresh all-time highs, Standard Chartered Bank just shared a major insight. And it's not a pretty picture for the short term. According to the institution's head of digital asset research, that recent plummet below $60,000 could be just the opening salvo in a more punishing decline targeting the $50,000 to $52,000 range for the OG crypto. While not quite bear market territory, that's still an uncomfortably deep retracement from Bitcoin's recent $73K peak just months ago. So what's fueling this gloomy outlook? Read the full story! |
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Tether Holdings just revealed it minted a staggering $4.52 billion profit in Q1 2024 alone. But the mind-boggling figures don't stop there for crypto's stablecoin titan. In the same record-setting Q1 report, Tether pulled back the curtains on its closely guarded net equity position for the very first time too. And the numbers were, well, titanic - with net equity swelling to $11.37 billion as its reserve holdings ballooned. To put that in perspective, Tether's equity base alone is now larger than the individual market caps of all but a handful of the biggest cryptocurrencies in existence. Where is Tether planning on investing these funds? Read the full story! |
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| Chainlink Goes for Institutions |
The race to catalyze institutional adoption of digital assets is heating up, and two players are joining forces. Chainlink has struck a strategic partnership with Rapid Addition. Their mission? Developing a first-of-its-kind adapter tailored explicitly for institutional trading of tokenized assets across the decentralized landscape. The collaborative adapter will harness the might of Chainlink's Cross-Chain Interoperability Protocol (CCIP) - a cross-chain messaging fabric with applications spanning DeFi, gaming, and now, institutional finance integration. But how does it work? Read the full story! |
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What Is Renzo? Leading ETH Liquid Restaking Protocol With $3.3B in TVL | |
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| Renzo is one of the leading liquid restaking protocol and strategy manager for EigenLayer, the pioneering protocol for restaking on Ethereum. |
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In the high-stakes game of cybersecurity whack-a-mole protecting crypto's decentralized protocols, one white hat hacker just earned a life-changing payday, courtesy of Curve Finance. The hacker going by "Marco Croc" was awarded a $250,000 bug bounty after finding a critical vulnerability with historically catastrophic implications for Curve's liquidity pools. Was the flaw too critical that earned the hacker this huge bounty? Is the protocol riddled with such flaws? Read the full story! |
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$6.5M To Launch "Safer" Memecoins |
The memecoin phenomenon is showing no signs of slowing down. Blockchain heavyweights are officially getting in on the action - and bringing some sanity. In a bid to cultivate a "safer" memecoin ecosystem on its network, Fantom just announced a $6.5 million prize pool to incentivize developers embracing anti-scam and anti-rugpull standards. Does this mean Fantom will probably host one of the safest memecoins on its blockchain? Read the full story! |
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That's all for now. Remember: in crypto, the only constant is change. Stay sharp, stay curious, and never stop learning. |
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