Is It Still a Bull Market? 🐂
In today’s edition: 💥 Two main reasons for the price drop, 💹 Traders anticipate lower ETH prices, 🛑 Ore protocol halts on Solana, 📉 Starknet usage declines post-airdrop, and more!
👯♀️ Refer Unchained with a friend and earn a Premium subscription
Union is the first sovereign interoperability layer pioneering trustless bridging between appchains, L1s, and L2s without depending on trusted third parties, oracles, multi-signatures, or MPC. Looking to future-proof blockchain bridging, it is the only protocol that fully addresses the sovereign bridging trilemma, unlocking a horizontally-scaled future.
The Bitcoin halving is just around the corner, expected to be on April 19 or April 20.
Arthur Hayes, CIO of Maelstrom, and Will Clemente, co-founder of Reflexivity Research, discuss the rise in bitcoin prices ahead of the halving, the impact of the approval of spot bitcoin ETFs in the US, and the potential effects of the halving on the price trajectory post-halving. They also discuss the potential impact of a new class of investors on bitcoin’s price, volatility, and decentralization.
Moreover, they dive into the impact of the macroeconomics, geopolitical, and demographic conditions for the crypto asset industry, the potential for layer 2s on Bitcoin, and their price predictions for bitcoin by year-end.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Juan Aranovich, Sam Sriram, and Sage Young
The 2 Main Reasons Why Bitcoin Dumped From $71,000 to Under $62,000: CryptoQuant
Not only did perpetual traders take profits, but bitcoin’s largest holders all reduced the rate at which they were acquiring BTC.
Ethereum Risk Reversals Sink Deeper as Crypto Markets Turn Nervous: QCP
Options data tells us a fair bit about the sentiment in crypto markets and downside skew in ETH risk reversals suggests traders are betting on a lower ether price.
Bitcoin-Style Mining Protocol Ore Halts on Solana
Ore might have been the victim of its own success, after becoming one of the most used projects on Solana by transaction count, which in turn could have contributed to the congestion on the network.
Starknet Usage Is Way Down Post-Airdrop, Showing No Signs of Stopping
As Starknet’s transaction rates fall and its STRK token value has halved post-airdrop, the network faces critical challenges in maintaining user interest and network vitality.
Daily Bits…✍️✍️✍️
📝 U.S. Senators Lummis and Gillibrand introduced a new stablecoin bill, proposing clear definitions and operational standards for issuers to enhance the regulatory framework for digital assets.
🏦 Crypto-skeptic Senator Sherrod Brown expressed willingness to advance US legislation on stablecoins, emphasizing the need for thorough regulatory scrutiny before full support is given.
📊 Solana-based Drift Protocol announced an airdrop of 100 million governance tokens.
👨💼 Binance.US appointed former New York Fed official Martin Grant to its board, enhancing regulatory and compliance expertise amid ongoing scrutiny.
😮 After its airdrop, Solana-based platform Parcl saw a 40% reduction in its total value locked, signalling a significant shift in investor sentiment.
🚫 Railgun addressed accusations of being used by North Korean hackers, asserting the claims are false and highlighting their system's built-in privacy measures to block such activities.
💳 PayPal is set to revise its buyer protection policies, removing protections for NFT transactions starting May 20.
The $$$ Corner…
🏡 Homium secured $10 million to tokenize home equity loans on Avalanche, initiating operations in Colorado with plans for nationwide expansion.
📡 SendingNetwork garnered $7.5 million in funding to bolster its decentralized communication infrastructure, aiming to enhance privacy and security in Web3 interactions.
💱 Crypto Valley Exchange (CVEX) closed $7 million in funding to support its upcoming decentralized exchange's mainnet launch.
What Do You Meme?
Recommended Reads
📈 Your Market Update 📉
BTC is up .7%, trading at $62,941
ETH is up .8%, trading at $3,066
BTC dominance: 51.61%
Crypto market cap: $2.4T
*All data as of today, 06:45 am ET. Source: CoinGecko
We Are Hiring!
A Sponsorships Manager to grow sponsorships across all its platforms as the publication itself grows. See the details and apply here.
A Bitcoin Reporter to cover all things Bitcoin. See the details and apply here.
A Regulatory Reporter to cover regulatory topics in the space. See the details and apply here.
A Senior Editor to help assign and edit daily news stories, as well as work on features and other editorial projects as needed. See the details and apply here.
An Audience Development Director to broaden the reach of the publication’s content, whether through the web, social media, newsletters, podcast platforms, or videos. See the details and apply here.
🔝 Are you hiring and want to promote the postings in the Unchained newsletter? Let us know!