NFTs
Crypto NFT Today: Week April 2
Welcome to another edition of NFT Crypto Today! The last two weeks have been full of unmissable events that will define points for the future of blockchain, cryptocurrency and NFTs.
With Hong Kong likely to approve Spot Bitcoin ETFs soon, Bitcoin hitting $70,000 this week despite the country’s struggle with inflation, and more, there’s a lot of essential news you should know. So let’s dive in and see what’s going on!
Hong Kong to approve spot Bitcoin ETFs
According to Reuters, sources familiar with the matter suggest that Hong Kong’s crypto regulators are prepared to greenlight the initial batch of applications for spot bitcoin exchange-traded funds (ETFs) next week. If approved, these products could begin to be sold in April. This development could position Australia and Hong Kong as the leading jurisdictions in Asia to introduce spot bitcoin ETFs, while Singapore and the UAE currently show no signs of similar initiatives.
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Reportedly, Hong Kong regulatory authorities accelerated the approval process. Notably, major players such as Harvest Global Investments and VSFG, in collaboration with Value Partners, have submitted applications to the Securities and Futures Commission (SFC) for a spot ETF, as per a report by CoinDesk.
Bitcoin reached US$70,000 despite inflation in the US
On April 10, Bitcoin has recovered to $70,000 after falling in response to higher-than-expected US inflation numbers for March. In early US trading, BTC fell nearly 4% to $67,500 following a government report indicating a faster rise in the Consumer Price Index (CPI) than analysts had predicted. This has led investors to adjust their expectations regarding potential rate cuts next year.
The recession affected several asset classes, including bitcoin, but the cryptography It gradually recovered all losses and even saw a 1% increase in the previous 24 hours. Bitcoin’s performance outpaced US stocks and gold, which suffered significant declines during the day. At the time of reporting, Bitcoin had retreated slightly from the $70,000 mark, trading at $69,800.
Today Uniswap Labs received a warning from Wells from the SEC
And we are ready to fight
This is the latest political effort to target even crypto’s best players like Uniswap and Coinbase
All Uniswap products and the Uniswap protocol are not affectedhttps://t.co/i2p5LubELk
— Uniswap Labs 🦄 (@Uniswap) April 10, 2024
Well notices serve as preliminary warnings, alerting recipients to charges the regulator is considering bringing against them, often leading to enforcement action.
Uniswap receives warning from SEC
Decentralized crypto exchange Uniswap has revealed that it has received a notice from the US Securities and Exchange Commission (SEC) indicating its intention to pursue enforcement action. Following this announcement, Uniswap’s native token, UNI, suffered an immediate decline of 9.5%.
Dogecoin making more millionaires
In 2021, Dogecoin has attracted widespread attention across the internet following comments made by Elon Musk and a substantial social media following. Experiencing some of the most notable price increases in financial history, the token has soared more than 33,000% since its creation in 2013.
In comparison, during the peak of 2021, the maximum amount of DOGE held by a single wallet exceeded 5 billion DOGE, which is equivalent to about 3.5 billion dollars. Notably, the owner of this wallet has refrained from liquidating any DOGE holdings, resulting in its current valuation exceeding $1 billion.