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Bitcoin and the whole crypto market turned green at the close of April. The run-up to this month’s $4.2 billion options expiry was uneventful, with no signs of dissent. After a brief fall below the $53,000 support level on April 29, Bitcoin rallied 10% by midday to reclaim its previous high of $57,400. BTC/USDT 4-hour chart. Source: TradingView Related article | Bears Salivate As Bitcoin Monthly Close Leads To Indecision Mainstream Acceptance Increase MicroStrategy CEO Michael Saylor’s announcement that the company saw a 52% increase in sales relative to the same quarter last year would likely bolster the case that businesses should keep Bitcoin on their balance sheet to fight inflation and attract new investors. Central bank digital currencies (CBDC) are also gaining momentum, with the Bank of England announcing plans to introduce a digital pound, and the French central bank making news on April 29 after settling a $100 million Euro bond using a CBDC hosted on the Ethereum ne

The Africa Special event aired on Thursday, showcasing Cardano developments on the continent. At the time of writing, the show has hit over 120k views, with IOG CEO Charles Hoskinson calling it the most popular show they’ve done to date. Although the response was largely positive, with a wide range of mainstream and crypto publications covering the event, Hoskinson spoke about a distinct lack of coverage from CoinDesk. The Executive Editor at CoinDesk, Marc Hochstein , said they are still waiting on a response from Ethiopia’s Ministry. “media response was incredible as well, we were interviewed by the Financial Times, Cointelegraph, my lord they actually covered it, CityAM, New York Times, and dozens of others. More news will come trickling out. Notably absent, I can’t see it right now, I don’t know if it’s covered or not. I didn’t check my media list, was CoinDesk.” Cardano’s African Strategy Cardano has been plugging away at blockchain adoption in Africa for many years now.

More taxes may cause short-term volatility, “but long term, you may see more demand for DeFi applications and other collateralized use cases.” There are often multiple causes for an asset’s sharp decline, but Bitcoin’s ( BTC ) 10% “nosedive,” which took place on April 22, may be blamed on the Biden Administration’s reported plan to tax capital gains at double the current rate on America’s wealthiest.  Bitcoin is habitually volatile, so one probably shouldn’t read too much into a double-digit swoon in any given week, but this might be as good a place as any to reflect upon the possible impact of the United States capital gains taxes, and taxes in general, upon the future growth of cryptocurrencies and blockchain technology. Could it hinder long-term adoption? If so, in what ways? Will the Biden plan even reach fruition, given the vagaries of U.S. politics? How, too, does one explain the mini-market eruption in the face of the mere possibility of more taxes in a single nation? What

The Chinese crypto exchange says funds are “SAFU” and that the emergency maintenance could take up to two weeks. Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday. “Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads. The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange. With all normal operations currently paused during the ongoing maintenance, Hotbit also revealed that pending trading orders are canceled to prevent losses. Also, the exchange promised to bear any losses stemming from exchange-traded funds listed on its platform during the duration of th

Some of Skew’s institutional clients include One River Asset Management and Susquehanna International Group. United States cryptocurrency giant Coinbase has acquired  institutional-grade blockchain data analytics platform Skew. Greg Tusar, vice president of institutional products at Coinbase, announced the news Friday, stating that the new acquisition will help customers make more informed trading decisions by using real-time data analytics. “We’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage,” Tusar noted. The acquisition is part of Coinbase’s broader strategy to serve institutional clients. According to Tusar, the exchange will continue to serve Skew’s institutional customers, which include One Riv

In a bid to save the Ethereum mining community, a group known as the Ethereum Genesys Foundation (EGF) successfully hard forked the chain to continue Proof-of-Work (PoW) mining. With the ETH 2.0 upgrade well underway, the switch to Proof-of-Stake (PoS) would render miners redundant. What’s more, miners claim they are slowly being phased out, even before ETH 2.0 is fully rolled out. Community splits are difficult at the best of times, more so how the original chain tends to fare better. With that in mind, is Ethereum Genesys doomed to fail? Ethereum Genesys Looking to Continue PoW The EGF  successfully initiated the hard fork of the Ethereum mainnet in mid-April, which they called the “Maple Fork.” They intend to save the PoW mining community and produce a forked token called Ethereum Genesys (ETG). On why users would prefer this to the original Ethereum, they say the Ethereum Foundation’s approach to PoS makes it less decentralized than PoW as most Beaconchain validators run on

NFTs have recently become the talk of the crypto industry, yet they still don’t even come close to DeFi in terms of the total value generated or the amount of capital involved. These non-fungible tokens certainly offer an interesting take on digital ownership rights, but the buck kind of stops there. DeFi , on the other hand, enables permissionless replacements for the world of traditional finance. No longer do you need to visit a bank for a loan, get a lengthy and invasive credit check, or be stuck with 0.04% savings rates. Traditional finance is dying a slow death, but DeFi has been speeding it along. The latest brand to get involved in the DeFi space is PrimeXBT, an award-winning trading platform offering long and short positions on all kinds of CFDs, ranging from crypto to stock indices, commodities, and forex. With so much going on all under one roof, PrimeXBT is quickly becoming the place to be. Here’s how the latest entry to the DeFi space might be the company’s most signifi

CoinSwap Space provides a suite of products and services for decentralized finance, allowing users myriad ways to make returns on their crypto. CoinSwap , an exciting new DEX for the Binance Smart Chain, has announced its launch to take place on April 30th at 5 pm CET. This is a launch with a difference. There are no presales, no allocations, and no team tokens. The only way to acquire the native CSS tokens is to start yield farming them from the moment of the launch, which is now only hours away. Coinswap Space is a decentralized exchange that provides users with many different opportunities to gain rewards. CSS is an automatic market maker (AMM) allowing digital assets to be traded without an order book. Users can see returns on their crypto by providing liquidity to the market, taking advantage of CoinSwap’s many yield farming pools, or simply by staking their crypto at CSS stake. Smart routing is utilized by CSS, giving clients the best swapping rates, slippage, and price impact

The arrested siblings of the missing Thodex CEO reportedly own millions of dollars worth of crypto. Turkish authorities are progressing with an investigation into local cryptocurrency exchange Thodex, which  abruptly halted trading last week. On Thursday, a Turkish court jailed six suspects pending trial, including siblings of the missing CEO and senior company employees, Reuters reported . As part of a probe, Interpol reportedly issued a red notice for Thodex CEO and founder Faruk Fatih Özer, who had reportedly flown to Albania. “When he is caught with the red notice, we have extradition agreements with a large part of these countries. God willing he will be caught and he will be returned,” Interior Minister Suleyman Soylu said. Local authorities detained over 83 individuals suspected to be involved in the case amid growing concerns that Thodex was a scam after the platform halted money withdrawals. Some suspects indicated that Özer’s siblings — Güven Özer and Serap Özer — cou

Uzbekistan wants to lift its ban on cryptocurrency purchases after barring residents from buying crypto in 2019. A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued  an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto exchange trades involving crypto assets and tokens in exchange for the national currency and the foreign currency.” The authority stressed that crypto investors would trade and invest at their own risk. The proposal also aims to establish processes for the registration, issuance and circulation of digital assets, authorizing licensed crypto companies in Uzbekistan to issue their own tokens. According to official records, the proposed amendments are open to discussion until May 14, 2021. The l

European financial institutions are using pilots to make a case for the digital euro. It turns out the 100 million euro digital bond issued by the European Investment Bank earlier this week was actually a trial of a European central bank-issued digital currency, or CBDC. An April 28 announcement from France’s central bank, Banque de France, revealed the digital bond was settled using a CBDC on a blockchain. The two year-bond was issued on the Ethereum public blockchain on April 27 and settled the following day, with a maturity date of April 28, 2023. The sale was led by Goldman Sachs, Santander and Société Générale. “From a technological standpoint, the experiment required the development and deployment of smart contracts under secured conditions, so that the Banque de France could issue and control the circulation of CBDC tokens and so that CBDC transfer occurred simultaneously with the delivery of securities tokens to the investors’ portfolio,” Banque de France said. The bank

The official's conduct in past litigation was brought into question by a U.S. District court judge. The United States Securities and Exchange Commission new enforcement chief, Alex Oh, has resigned from her position with the Securities and Exchange Commission just days after taking the role. According to an official SEC announcement , Oh stepped down for personal reasons. However, in Oh’s resignation letter to Chairman Gary Gensler — as seen by Bloomberg — the former enforcement chief revealed she was stepping down to avoid becoming a distraction, as she deals with controversies arising from a case she worked in the past. Oh was previously a partner at the Paul, Weiss, Rifkind, Wharton & Garrison private law practice, where she represented, among others, oil giant Exxon Mobil Corp. The case in question reportedly relates to Oh’s defense of Exxon against allegations that the firm had supported the torture and murder of Indonesian villagers. Oh’s conduct during the litigati

Intercontinental Exchange has sold its 1.4% stake in Coinbase to reduce the company’s debt. Intercontinental Exchange, the operator of the New York Stock Exchange and the owner of Bakkt digital asset platform, has sold its 1.4% stake in the newly Nasdaq-listed cryptocurrency firm Coinbase. Announcing the news Thursday on a financial results call for the first quarter of 2021, ICE chief financial officer Scott Hill said that the company sold its Coinbase stake for $1.2 billion. The executive noted that the sale generated approximately $900 million net after taxes. Hill said that the proceeds were used to reduce ICE’s debt at the end of the first quarter. He noted that the company’s pro forma leverage, or total indebtedness rate, would have been closer to 3.6x compared to 4.2x when ICE acquired mortgage-focused software company Ellie Mae in September 2020. “We are definitely a bit ahead of schedule, been paying down debt faster than we sort of expected when we started the deal. I

High costs and transactions prioritized by gas fees often make using DeFi protocols challenging to say the least. Does it really need to be this difficult? Decentralized exchanges have indelibly changed the way that cryptocurrencies are traded. But in the grand scheme of things, the technology that’s driving these platforms is relatively young… meaning it’s inevitable that teething problems have emerged. Some of the heavy hitters that dominate the market at present are known as non-orderbook markets. While it’s tantalizing and somewhat romantic that these platforms are controlled purely by supply and demand, it often results in some unexpected downsides. There’s one glaring disadvantage that we don’t need to mention too extensively — high swap fees. We currently live in a world where it can cost hundreds of dollars to execute a small number of seemingly straightforward transactions on the best-known decentralized finance protocols. For the DeFi sector’s true potential to shine, th

Australia’s senate committee on technology and finance wants lawmakers to establish a national blockchain land registry. An Australian senate committee has published a report calling for a blockchain-based national land registry, better clarity over laws relating to smart contracts, and continued efforts to establish international standards for DLT. The Select Committee on Australia as a Technology and Financial Centre's second interim report offers 23 recommendations spanning blockchain, consumer data, and corporate taxation. Five recommendations deal specifically with blockchain and digital assets, including that the Council of Financial Regulators Cyber Working Group takes into account international data standards. The committee recommended that National Cabinet consider supporting a blockchain-powered national land registr y as a pilot project for Commonwealth-State cooperation on “RegTech’ to highlight ways to streamline administrative processes in both the public and pr

Ethereum extended its rally and it traded to a new all-time high near $2,800 against the US Dollar. ETH price is correcting gains, but dips are likely to be supported near $2,650. Ethereum remained well bid and it even climbed towards the $2,800 level. The price is now trading well above $2,700 and the 100 hourly simple moving average. There is a crucial rising channel forming with support near $2,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct lower, but the bulls are likely to appear near $2,650 and $2,620. Ethereum Price Remains In Uptrend Ethereum remained well bid above the $2,650 support level, unlike bitcoin . ETH extended its rise above the $2,750 high and it settled nicely above the 100 hourly simple moving average. It traded to a new all-time high at $2,800 before it started a downside correction. There was a break below the $2,780 and $2,750 levels. Ether is now trading below the 23.6% Fib retracement level of the upward move from

China is reportedly paying more attention to the crypto mining sector, amid concerns of its growing carbon footprint. China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption of Bitcoin mining in particular. Beijing sent an “emergency notice” to conduct checks on data centres involved in Bitcoin and other cryptocurrency mining operations on April 27, which was reportedly met with some panic in China. However Chinese columnist Colin Wu or Wu Blockchain on Twitter, was quick to downplay fears of how this could impact Chinese Bitcoin miners in the short term, noting that: “This caused some panic in China. However, the Chinese government said it was only conducting an investigation. Data centers are difficult to use for Bitcoin mining, and are mainly used for ETH Filecoin.” According to Chinese state media PengPai (accessed via translation), the “emergency notice” was routine work for

Sherlock will provide fundamental and technical analysis for fund managers and investors. Asset management giant Fidelity is delving deeper into the digital asset space with the announcement of an analytics platform called Sherlock. In an announcement on April 29, Fidelity Investments — which has $10 trillion assets under management — unveiled a digital assets data and analytics solution to assist institutional investors and fund managers. The platform, dubbed Sherlock, will be similar to Bloomberg’s Terminal and will collate data on fundamental and technical analysis, blockchain data, market data, social sentiment analysis, and industry news into one portal. It will include research on crypto assets from some of the leading institutional data providers, in addition to unique analytics to help investors evaluate the market, according to the announcement . The new platform will compete against existing solutions from companies such as Messari which was launched in 2018 to provide

SEC filings show that America’s oldest bank has attributed the underperformance of its small-cap ETF to failing to buy MicroStrategy shares after the firm invested heavily in BTC. U.S.-based financial institution BNY Mellon, the world’s largest custodian bank and asset servicing company, states that the recent performance of one of its exchange-traded funds, or ETFs, was significantly impacted by its lack of exposure to companies investing in Bitcoin. The BNY Mellon Opportunistic Small Cap Fund (DSCVX) gained 35% from September 1, 2020, through February 28, 2021, underperforming its benchmark, the Russell 2000 Index — which produced roughly 41.7% over the same period. Filings with the U.S. Securities and Exchange Commission indicate the firm laments not purchasing shares in leading business intelligence firm MicroStrategy (MSTR) — which invested billions into Bitcoin last year, holdings that have since grown to more than $4.8 billion. The filings state: “Fund performance was hurt

Bitcoin price extended its decline below the $54,000 level against the US Dollar. BTC is holding the $52,500 support, but it must clear $54,000 for a fresh increase. Bitcoin failed to stay above the $54,000 support and extended its decline. The price is now facing resistance near $54,000 and the 100 hourly simple moving average. There is a major declining channel forming with resistance near $54,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above $54,000 or it might extend its decline towards $50,000. Bitcoin Price is Facing Hurdles Bitcoin struggled to continue higher above $55,000 and it started a fresh decline. BTC broke the $54,000 and $53,500 support levels. There was also a close below the $54,000 level and the 100 hourly simple moving average . The price tested the $52,500 support zone. A low is formed near $52,375 and the price is now consolidating losses. It recovered above the $53,200 level. There was a break above