Bitcoin Emoji Anyone? 🙏
Crypto giants push for Bitcoin emoji. ETF trading volume tripled in March to $111B. Trump promises economic boom with tax cuts. $2B Silk Road Bitcoin moved by US government. BNB's $1M memecoin party.
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This is The Token Dispatch 🙌 you can hit us on telegram 🤟
Yes the price tumble is confusing.
But what's tragic? Not having a Bitcoin emoji.
We are often forced to use this one 👉 🪙 (basic!)
That travesty is about to be fixed.
A group of heavy hitters in the crypto world are banding together to get Bitcoin its very own emoji.
What do we know?
Nexo and over 35 other crypto companies launched a petition called "Bitcoin Deserves an Emoji."
They're aiming for a whopping 50,000 endorsements to convince the emoji bosses (yes, those exist) to make it official.
The petition is gaining steam with over 10,000 signatures in just a week.
Why? Bitcoin has to go mainstream
Spot Bitcoin ETFs are on fire.
Trading volume nearly tripled in March, reaching $111 billion compared to February's $42 billion.
Dominant Trio: BlackRock, Fidelity, and Grayscale's spot ETFs continue to lead the pack.
Grayscale's Outflow: Grayscale's GBTC fund has seen a significant outflow of Bitcoin - $15 billion since January(46%).
The question remains: will this growth continue?
However, outflows are happening after a week of gains.
Ark's Bitcoin ETF loses steam: Investors pulled out a net of $87.5 million on Tuesday, the highest daily outflow since launch.
This even surpassed the outflows from GBTC fund the same day.
However, digital asset inflows recovered: After a rough week, crypto investment products finally saw a net inflow of $862 million. This follows $1B of outflows the week before.
Meanwhile, Hong Kong is accepting spot Bitcoin ETF applications
And analysts are debating whether the recent surge in Bitcoin ETF demand is the fuel for a supercycle or just a familiar echo of past bubbles.
Listen to lead Glassnode analyst James Check:
Block That Quote 🎙️
US presidential candidate Donald Trump.
“When I win you are all getting tax cuts and you are all getting a brand new Trump economic boom."
Donald Trump delivered his speech in Green Bay, Wisconsin.
BNB Chain Throws $1 Million Memecoin Party
BNB Chain throws $1 Million party
They're offering big bucks to lure developers to build memecoinscoins on their blockchain.
How do you win a slice ?
Develop a memecoin with actual utility
Get your code audited.
Make your project open-source.
Get at least 1,000 people to hold your coin.
Get the details here - Meme Innovation – Battle for a prize pool of up to 1M.
In March, the Avalanche Foundation announced Memecoin Rush - offering a $1 million reward for memecoin liquidity providers.
Big Names Weigh In on Memecoin Discussion
Vitalik Buterin, Ethereum co-founder, sees a silver lining - memecoins can be fun and fuel charitable causes.
Li Jin, a crypto investor, argues memecoins are a clever marketing strategy, building communities around a viral token.
Solana's Anatoly Yakovenko thinks real change comes from people taking action, not throwing money at problems.
Ava Labs' Emin Gün Sirer wasn't always a meme coin fan. But he's come around, recognising the social connection and community these tokens foster.
In the Numbers 🔢
$2 billion
Worth of Bitcoin, once linked to the darknet marketplace Silk Road, has been shifted by the U.S. Department of Justice (DOJ).
Here's the breakdown:
This Bitcoin was seized from James Zhong, convicted in 2022 for stealing it from Silk Road in 2012. some coins were even found in a popcorn tin.
The DOJ sent a tiny test transaction to a Coinbase Prime address, then moved the entire $2 billion to a brand new wallet.
Ethena Rockets to a $1.3B Market Cap
Ethena Labs launched its governance token $ENA.
Market cap shot to $1.3 billion.
Ethena Labs is a decentralised finance (DeFi) protocol that offers the $1.3 billion yield-earning USDe (synthetic dollar), and ENA is its new governance token.
Ethena airdropped ($450 million) it's new ENA token to a bunch of crypto wallets.
One lucky wallet scooping up nearly $2 million.
The biggest winner walked away with a cool $1.96 million.
Immediately hit exchanges like Binance and Bybit.
In the backdrop of Terra Luna collapse, the coin’s approach has also been deemed quite risky. Some experts claim the Ethena protocol itself has some flaws.
The Surfer 🏄
The crypto-related venture capital firm Paradigm is looking to raise between $750 and $850 million for a new fund, Bloomberg reported on Tuesday
Wormhole Airdrop Alert: Starting at 7:30 AM ET today (April 3rd), eligible users can claim their share of a massive 678 million Wormhole tokens (WORM) airdrop. That's 6.78% of the total supply and nearly 400,000 wallets are estimated to be eligible.
Bitfarms plans to invest $240 million to upgrade its Bitcoin mining equipment. The company aims to triple its post-halving hash rate to remain profitable after the Bitcoin halving in 2024. Bitfarms currently holds $66 million in cash and 806 BTC in its treasury.
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