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Discover the excitement and rewards that await you at Xtreme.game with a 100% deposit bonus!Crypto Market UpdateTable of ContentsMarket and Regulatory UpdatesApril's Crypto Market Tumbles Amid Economic ConcernsFormer Binance CEO Sentenced in High-Profile CaseU.S. Bitcoin ETFs Experience Significant OutflowsHong Kong Launches Bitcoin and Ethereum ETFsCrypto Exchanges and PlatformsTokenization of Real-World Assets Hits New HighCelsius Network's Significant Token Burn Boosts PriceVolatility Strikes Renzo Protocol Following Binance ListingPike Finance Hit by Multiple ExploitsCountry-Specific DevelopmentsStarkNet Identity Fraud Exposed by Chinese PoliceTechnical and Security DevelopmentsBitcoin Miners Persist Despite Revenue ChallengesVitalik Buterin Debuts New Cryptographic Proof SystemBitcoin Jesus Faces Tax Evasion Charges in SpainCrypto Hack and Scam Losses Decline in April 2024Curve Finance Patched for Potential Reentrancy ExploitMarket PerformanceMajor Losses for Algorand, Sandbox, and Arbitrum HoldersNFT NewsAnimeCoin's New Gacha Grab Game Introduces NFT RewardsApril's Crypto Market Tumbles Amid Economic ConcernsBitcoin faced a severe 14.76% decline in April with macroeconomic concerns and slowing ETF flows, marking its biggest monthly drop since August 2023, which continued into a 6% fall to an intraday low of $57,068. The cryptocurrency market, including Ethereum, experienced widespread losses ahead of a Federal Reserve meeting, with Bitcoin dropping to $57,000 and Ethereum below $2,900. Investor pessimism escalated due to hawkish fiscal policies and unfavorable judgments against major crypto entities, pushing Bitcoin below the $60,000 support level to two-month lows. Amid the sell-off, JPMorgan and Goldman Sachs anticipate the Federal Reserve's first interest rate cut in July, offering a potential future reprieve for risk assets, contrasting with more conservative predictions from other major financial institutions.Former Binance CEO Sentenced in High-Profile CaseFormer Binance CEO Changpeng Zhao, known as CZ, will serve four months in prison for violations of the US Bank Secrecy Act, reduced after a plea deal from a potential three-year sentence. This outcome has sparked mixed reactions; some see it as justice served, while others argue it's insufficient for the severity of the offenses, which included processing transactions linked to terrorist organizations. CZ's sentence also intends to serve as a deterrence in the crypto industry. Post-sentence, CZ plans to focus on education through his Giggle Academy initiative and emphasizes the importance of compliance in the crypto sector. He will likely serve the full term due to legal particulars, given his non-U.S. citizen status.U.S. Bitcoin ETFs Experience Significant OutflowsIn April, U.S. spot bitcoin ETFs saw significant financial movements with $343.5 million in net outflows, ending a three-month streak of inflows. BlackRock’s IBIT dominated with $1.5 billion in inflows, while Grayscale’s GBTC and others like ARKB and BRRR experienced outflows. Concurrently, the crypto markets witnessed nearly $200 billion drop in market cap as Grayscale transferred approximately $245 million worth of Bitcoin to Coinbase, likely for sale. This market activity coincided with nearly $400 million in trader liquidations, reflecting a volatile period for cryptocurrencies.Hong Kong Launches Bitcoin and Ethereum ETFsThe debut of Hong Kong's Bitcoin and Ethereum ETFs saw $11.19 million in trading volume, with ChinaAMC Bitcoin ETF ranking 6th of 82 launches in the past 3 years, according to senior Bloomberg analyst Eric Balchunas. OSL CEO views it as a message from China, signaling potential for broader crypto adoption in Asia. Tokenization of Real-World Assets Hits New HighReal-world asset (RWA) tokenization has surged to a new peak with $8 billion locked, experiencing a 60% increase since February, driven by a preference for debt-based, high-yield investments excluding fiat-backed stablecoins, as per Messari report. This includes assets like commodities, securities, and real estate. On another front, BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) became the world's largest tokenized treasury fund in less than six weeks, reaching a market cap of $375 million, surpassing Franklin Templeton’s tokenized fund. BUIDL's rapid growth comes amid a broader trend towards blockchain-based tokenization of assets, which could revolutionize capital markets, potentially growing to a $16 trillion market by 2030.Celsius Network's Significant Token Burn Boosts PriceOn April 30, Celsius Network burned 652.2 million CEL tokens, which constituted 94% of the previous total supply, worth approximately $83.2 million. This reduced the remaining supply to 40.6 million CEL. Following the burn, the token saw an 8.4% price increase, contributing to its market value amid broader crypto market fluctuations. Volatility Strikes Renzo Protocol Following Binance ListingRenzo Protocol's native token REZ experienced major volatility after its listing on Binance. Within 40 minutes, its price dropped from $0.2578 to $0.1908 and continued to fluctuate, ultimately plunging by 35.787% to $0.1615. Concurrently, an airdrop distributing 7% of REZ's supply commenced just before the listing, further impacting its market performance. Pike Finance Hit by Multiple ExploitsPike Finance suffered two exploits within three days, resulting in a combined loss of over $1.9 million. The recent cross-chain attack led to a $1.6 million loss, affecting Ethereum, Arbitrum, and Optimism blockchains. The protocol also faced a USDC-related vulnerability, losing 299,127 USDC across the same three networks but assured the safety of other assets. StarkNet Identity Fraud Exposed by Chinese PoliceChinese police captured Lan Mou for forging identities to claim over 40,000 STRK tokens in the StarkNet airdrop, converting them to over $91,000 USDT. The suspect submitted 40 false airdrop forms, transferring the tokens to an OKX wallet. The airdrop attracted significant interest, with the first 45 million STRK tokens being claimed in less than 90 minutes. Bitcoin Miners Persist Despite Revenue ChallengesCryptoQuant CEO Ki Young Ju addressed concerns about bitcoin miners post-halving, noting that their revenues have dropped to 2023 levels. Despite this, there are no signs of capitulation, with miners holding onto their crypto holdings. They face a decision to either wait for a potential price increase or capitulate to current market conditions. Vitalik Buterin Debuts New Cryptographic Proof SystemVitalik Buterin introduced Binius, a system for efficient cryptographic proofs over binary fields. It operates directly on individual bits, offering significant performance gains over traditional systems. Binius uses multidimensional "hypercube" representation and binary finite fields for efficient arithmetic operations. Buterin expects further improvements in binary-field-based proving techniques in the near future. Bitcoin Jesus Faces Tax Evasion Charges in SpainRoger Ver, known as "Bitcoin Jesus," has been arrested in Spain on charges of tax evasion totaling nearly $50 million. He allegedly lied to the IRS about his Bitcoin holdings and failed to report capital gains from their sale. The U.S. is seeking his extradition from Spain for trial. Ver has been a prominent figure in the Bitcoin and Bitcoin Cash communities. Crypto Hack and Scam Losses Decline in April 2024In April 2024, CertiK recorded the lowest crypto hack and scam losses since 2021, totaling $25.7 million. This marked a 141% decrease from March, with exploits amounting to $21 million, flash loans to $129,000, and exit scams to $4.3 million. High-profile incidents included breaches at CondomSol and FixedFloat, showcasing ongoing security challenges in the industry. Curve Finance Patched for Potential Reentrancy ExploitCybersecurity researcher Marco Croc detected a reentrancy vulnerability in Curve Finance, receiving a $250,000 bounty. Although categorized as less severe, the exploit posed potential panic. The protocol experienced a $62 million hack, leading to a reimbursement vote for affected liquidity providers. Subsequently, it was discovered that the attacker took advantage of a vulnerability in certain versions of the Vyper programming language. Major Losses for Algorand, Sandbox, and Arbitrum HoldersOver 80% of Algorand (ALGO), Sandbox (SAND), and Arbitrum (ARB) holders are experiencing losses, with Algorand leading at 91%, according to IntoTheBlock. The volatile crypto market has caused significant price fluctuations, prompting caution but also indicating potential opportunities for savvy investors. Understanding the underlying technology and market trends is crucial for navigating the ups and downs effectively. Top Altcoin Gainers and LosersGainers:Optimism OP (+7.70%) Starknet Token STRK (+6.30%) Cosmos ATOM (+5.65%) Losers:Arweave AR (-18.57%) Stacks STX (-13.42%) NEO NEO (-12.04%) NFT Market MapAnimeCoin's New Gacha Grab Game Introduces NFT RewardsAnimeCoin's latest project, Gacha Grab, modeled after Japanese gachapon machines, offers players a chance to win digital collectibles. Collaborating with Azuki's NFT collection, participants can earn credits for owning Azuki, Elementals, or Beanz NFTs. Players can form squads, level up, and view their standings on the leaderboard during the two-week 2x credit earn boost period. This article has been refined and enhanced by ChatGPT.