This article comes to you with the generous support of Xtreme.game. Discover the excitement and rewards that await you at Xtreme.game with a 100% deposit bonus!Crypto Market UpdateTable of ContentsBitcoin Market DynamicsBitcoin Sees Converging Signals and Strong SupportBitcoin's Blockchain Enhances Miners' Earnings with Runes TokenBitcoin Halving Spurs Fear and Miner Revenue SpikeBlackRock and Grayscale Bolster Bitcoin Market with New OfferingsEthereum DevelopmentsEthereum ETF Decision Impacts Prices Amid SkepticismRegulatory and Taxation UpdatesBitcoin Wealth Tax Rumor Debunked Amid Regulation TalkThailand Blocks Unauthorized Crypto PlatformsSwitzerland Advocates for Bitcoin Reserves in National BankExchange and Platform NewsFTX Estate Auctions SOL Tokens; Bankman-Fried Assists LawsuitMt. Gox Prepares to Disburse Repayment to CreditorsNigerian Authorities Seek to Extradite Binance ExecutiveWoo X Exchange Launches First Tokenized T-BillsCelo Opts for Layer-2 Transition on Ethereum's Optimism StackBlockchain and Project DevelopmentsShiba Inu Raises Funds for Privacy Blockchain and Updates ShibariumZKasino Accused of Misleading Practices in ETH HandlingOntology Announces $10 Million Initiative for Decentralized IdentitySolana Memecoins Face High Investment but Rapid DeclineTether Expands USDT Issuance to TON FoundationTechnological Advances and ChallengesPolkadot Experiences Parachain Interruption; DOT Price SurgesDigital Assets and Community EngagementManchester City and OKX Unveil Unique NFT CollectionBitcoin Sees Converging Signals and Strong SupportBitcoin is currently experiencing a convergence of trading signals and market movements. A significant volume of BTC (~747,000) was purchased at the $66,000 level, indicating a strong support zone as it hovered around this level after a recent halving event. Notably, this resistance level might persist unless a major market move reshuffles the current standing. Glassnode cofounders predict a potential 350% upside for the crypto market, excluding the top 10 cryptocurrencies, emphasizing robust growth prospects. In parallel, analysts view the $60,000 mark as a likely bottom for this cycle, suggesting a phase of re-accumulation could be underway, setting the stage for a future breakout.Bitcoin's Blockchain Enhances Miners' Earnings with Runes TokenBitcoin's blockchain is undergoing a historic transformation with the introduction of the Runes token standard, boosting transaction fees and miner revenue. As Runes launched, Bitcoin fees surged to record highs, reaching $80 million daily and an average fee of $128. Post-halving, miners' revenue tripled despite the reduction in block rewards, with Bernstein noting that transaction fees contributed significantly. Following the spike, fees plummeted to single digits, reflecting the volatile nature of fee dynamics driven by speculative activity. The launch of Runes, associated with the halving, shows potential for continued high earnings for miners but underscores the challenges of sustainability in fee levels.Bitcoin Halving Spurs Fear and Miner Revenue SpikeThe Bitcoin halving sparked fear among investors, leading to outflows from digital asset investment products for two consecutive weeks, totaling $206 million. However, in the short-term, the halving had a positive impact on miners, with daily revenue spiking from $71 million to $107 million, partly driven by the launch of Runes, a new rival token standard. BlackRock and Grayscale Bolster Bitcoin Market with New OfferingsBlackRock's iShares Bitcoin Trust (IBIT) has experienced inflows for 69 consecutive days, coinciding with the fourth Bitcoin halving which halved the mining reward to 3.125 bitcoins. This halving aims to boost Bitcoin's scarcity and value by limiting its supply to 21 million. Meanwhile, Grayscale launched a new spot ETF, Bitcoin Mini Trust, under the ticker "BTC" with a competitive 0.15% fee, the lowest in the Bitcoin ETF market. This fund, a spin-off from GBTC, intends to use 63,620 BTC as underlying assets. These developments occurred amidst geopolitical tensions in the Middle East affecting Bitcoin prices and a growing trend in Bitcoin ETF trading impacting Bitcoin's price macroeconomically.Ethereum ETF Decision Impacts Prices Amid SkepticismSkepticism around Ethereum Spot ETF approvals persists as the SEC decision looms in May, with the odds of approval dropping to 11% according to Polymarket. President of the ETF Store Nate Geraci expresses doubt, citing decreased SEC engagement, hinting at either approval or a lawsuit. Meanwhile, Standard Chartered suggests a potential 70% price surge for Ethereum if its ETF is approved, highlighting the SEC's previous approach with Bitcoin ETFs and Ethereum's relatively stable market position. Additional key metrics influencing Ethereum prices include bullish investor sentiment with significant long positions despite volatility, and an observed decrease in network growth possibly indicating fewer transactions and new users, which contrasts with increased trading activity among existing network participants.Bitcoin Wealth Tax Rumor Debunked Amid Regulation TalkA recent online stir was caused by a false claim that Senator Elizabeth Warren proposed a 1% wealth tax on Bitcoin holders in a letter to the President, which was later debunked. The rumor suggested a tax on crypto holdings exceeding $500,000 to address wealth inequality and enforce tax rules more efficiently, particularly after major crypto platform collapses. While some officials aim for stricter digital asset regulations, significant measures like the proposed tax are unlikely due to the political challenges they would face.Thailand Blocks Unauthorized Crypto PlatformsThai authorities have decided to block "unauthorized" crypto platforms to enhance law enforcement efficiency in addressing online crime. The SEC will share information on unauthorized digital asset service providers to block access. Users are advised to promptly withdraw their assets. This action follows earlier decisions by India and the Philippines to block unauthorized platforms. Switzerland Advocates for Bitcoin Reserves in National BankA group in Switzerland is campaigning for the Swiss National Bank (SNB) to include Bitcoin in its reserves, aiming to amend the country's constitution. To achieve this, they must gather 100,000 signatures within 18 months. Advocates claim this move would signal Switzerland's financial innovation and strengthen its political neutrality and sovereignty. FTX Estate Auctions SOL Tokens; Bankman-Fried Assists LawsuitThe FTX estate is auctioning locked Solana (SOL) tokens, aiming to maximize returns for creditors. The last sale netted $1.9 billion at $64 per token, against a market value of $150. Meanwhile, Sam Bankman-Fried, serving a 25-year sentence for fraud related to FTX's collapse, has agreed to help plaintiffs target celebrity promoters by providing testimony and documents. Prominent promoters are contesting their involvement while lesser-known figures settled, contributing $1.4 million to the plaintiffs' fund.Mt. Gox Prepares to Disburse Repayment to CreditorsMt. Gox creditors have received repayment updates, signaling impending disbursement of Bitcoin and Bitcoin Cash. Table updates on the Mt. Gox rehabilitation claims system show repayment status, with some creditors already receiving fiat currency. The exchange, which lost 850,000 BTC to a breach in 2014, is expected to repay 142,000 BTC, 143,000 BCH, and 69 billion JPY by October 2024. Nigerian Authorities Seek to Extradite Binance ExecutiveNigerian authorities strive to bring back Nadeem Anjarwalla, a Binance executive, after his escape from custody. Anjarwalla’s wife refutes reports of his arrest and extradition from Kenya. Allegations against Binance include manipulating exchange rates and money laundering. Gambaryan, the other detained executive, pleads not guilty to money laundering charges in Nigeria amidst this unfolding legal saga. Woo X Exchange Launches First Tokenized T-BillsWoo X exchange launched the first tokenized T-Bills for retail investors, offering 4.5-4.7% APR. RWAs emerged as the second-most-profitable crypto narrative in Q1 2024, notably more profitable than memecoins. Institutional interest grows with BlackRock's $298 million USD Digital Liquidity Fund. Over $1.15 billion worth of U.S. Treasurys tokenized through 17 products by April 22. Celo Opts for Layer-2 Transition on Ethereum's Optimism StackThe Celo blockchain is transitioning to a layer-2 network atop Ethereum and has chosen Optimism's OP Stack after a competitive evaluation process. The proposal will undergo community discussion and a vote among CELO token holders. Celo believes this move will lead to a more prosperous future within the Ethereum blockchain ecosystem and has carefully considered various layer-2 options before making this decision. Shiba Inu Raises Funds for Privacy Blockchain and Updates ShibariumShiba Inu's SHIB token raised $12M in a sale to fund a privacy-focused blockchain, with investors including Animoca Brands and Polygon Ventures. The new network will utilize Fully Homomorphic Encryption for privacy. Meanwhile, Shibarium, Shiba Inu's layer-2 solution, experienced a brief outage due to validator networking issues but quickly resolved, with SHIB prices remaining stable and trending upwards. The team also rolled out a UI upgrade, enhancing user experience and wallet compatibility.ZKasino Accused of Misleading Practices in ETH HandlingZKasino sparked outrage after redirecting $33 million of users' bridged ETH to Lido instead of refunding as promised, with allegations of an exit scam and fraudulent behavior. The project claimed changes were made to provide a seamless transition, but users and an anonymous developer criticized the move. Venture capital firm Big Brain also accused ZKasino of misleading token distribution and fraudulent practices. Ontology Announces $10 Million Initiative for Decentralized IdentityOntology has announced a $10 million initiative to advance decentralized identity solutions, resulting in a 26% surge in market price. The initiative aims to bolster the use of ONT and ONG tokens, focusing on content creation for educating stakeholders about decentralized identity. Additionally, Ontology is enhancing its ONT ID service to improve user experience and technical understanding. Solana Memecoins Face High Investment but Rapid DeclineIn the last 30 days, 12 Solana presale memecoins, including "I like this coin" and MOONKE, raised $26.7 million but were abandoned. LIKE's value plummeted 99.2% post-launch, while MOONKE suffered a similar fate. Another project failed to launch its token. The market's enthusiasm for memecoins has waned, with Dogwifhat sliding over 40%. Tether Expands USDT Issuance to TON FoundationTether's collaboration with the TON Foundation has led to the issuance of $60 million USDT on the blockchain, marking a significant milestone. This move aims to facilitate instant, free cross-border payments through Telegram. Tether's issuance is now spread across various networks, with Tron and Ethereum leading the pack, while Tether holds a dominant 69% stablecoin market share. Polkadot Experiences Parachain Interruption; DOT Price SurgesFollowing a runtime upgrade, Polkadot parachains experienced a temporary block production halt, lasting about an hour. Moonbeam and DeStore Network confirmed disruptions, with additional wallet interface issues reported. Despite this, Polkadot's DOT token surged by 5%, reaching $7.43. The JAM upgrade proposal aims to enhance the network's architecture and smart contract capabilities. Top Altcoin Gainers and LosersGainers:Pepe PEPE (+14.86%) NEAR Protocol NEAR (+14.29%) Pendle PENDLE (+11.83%) Losers:Ondo ONDO (-4.86%) dogwifhat WIF (-4.67%) Maker MKR (-4.13%) NFT Market MapManchester City and OKX Unveil Unique NFT CollectionManchester City and OKX have launched an NFT collection, "Unseen City Shirts," allowing fans to obtain rare jerseys and matchday experiences through algorithmically linked NFTs. The limited collection features hand-painted designs by artist Christian Jeffery and includes ultra-rare NFTs offering play-on-pitch experiences and match tickets, as well as a newfound emphasis on Web3 and digital ownership. This article has been refined and enhanced by ChatGPT.