Category: Cryptocurrency News

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in both addFunding and removeFunding, why am i receiving conditional tokens in BOTH functions? ` conditionalTokens.safeBatchTransferFrom` https://github [dot com] /gnosis/conditional-tokens-market-makers/blob/master/contracts/FixedProductMarketMaker.sol their docs are minimalistic docs.polymarket [dot com] /#add-liquidity submitted by /u/External-Peach8286 [link] [comments]

The Bitcoin price has somewhat slowed down since reaching the unprecedented high of $73,000, moving mostly sideways since mid-March. However, with the halving event less than a fortnight away, all eyes will be on the premier cryptocurrency and all that pertains to it over the next couple of weeks. According to a recent on-chain observation, the BTC supply on exchanges has been on a steady decline over the past few months. This trend has sparked discussions on what this could mean for the Bitcoin price, both in the short and long term. $7.55 Billion Transferred Out Of Exchange Wallets In The Past Month Prominent crypto pundit Ali Martinez took to the X platform to share that a significant amount of Bitcoin has been moved out of crypto exchanges over the past month. The relevant metric here is Glassnode’s Balance on Exchanges, which tracks the total amount of a cryptocurrency (Bitcoin, in this case) held across all exchange addresses. Related Reading: Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here? A decrease in the value of this indicator implies that investors are making more withdrawals than deposits of Bitcoin into centralized exchanges. The metric’s increase, on the other hand, indicates that more BTC is flowing into these exchanges than leaving. Chart showing Bitcoin balance on all exchanges | Source: Ali_charts/X According to Martinez, about 111,000 BTC (worth approximately $7.55 billion) have been transferred out of known crypto exchange wallets in the past month. Typically, an exodus of funds (of this magnitude) suggests a significant shift in the sentiment of Bitcoin investors. While the exact rationale behind such a massive movement of Bitcoin remains unclear, the flow of funds from trading platforms suggests a growth in investor confidence. This implies that BTC owners are more interested in holding their assets in the long term rather than selling for short-term gains. Furthermore, this continuous downward trend in BTC’s balance on exchanges could set the stage for a bullish rally for the Bitcoin price. A sustained drop in the BTC’s supply on centralized exchanges could result in a supply crunch – a scenario where the supply of a particular asset is lower than its demand, leading to a surge in its value.  Another potential bullish catalyst for the Bitcoin price is the upcoming halving event, which is expected to occur on April 18, 2024. With the miners’ rewards slashed in half and the production of Bitcoin slowed, this event is expected to impact the value of BTC positively. Bitcoin Price At A Glance As of this writing, the Bitcoin price stands at around $69,537, reflecting a 2.7% increase in the last 24 hours. Related Reading: Breakout Of The Year? Crypto Analyst Predicts Where NEAR Is Headed Next Bitcoin price on the verge of $70,000 on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView

The biggest portion of blobs are Inscription based, with 90.5K blobs Base 60.3K Arbitrum 43K Optimism 36.4K Linea 24.9K StarkNet 21.5K zkSync 16K https://preview.redd.it/8itx2xg241tc1.png?width=600&format=png&auto=webp&s=2c928d010a1479c480aea4139226061239ebf7d7 Although inscriptions are the biggest source of blobs, the trend only started 2 weeks after blobs were introduced. The same type of blobs (inscriptions) were submitted at a high rate of…
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South Korean authorities are reportedly planning to release updated guidelines for virtual asset trading. These guidelines will prohibit the listing or relisting of coins that have previously been hacked. Additionally, the guidelines will require issuers of “foreign” virtual assets to release a whitepaper or a technical manual specifically for the Korean market. Guidelines for ‘Foreign’ […]

Embattled crypto lender Genesis Global Capital has continued to ramp up efforts to pay up creditors after filing for bankruptcy protection in January 2023. As part of these efforts, Genesis has now reportedly sold off the entirety of its Grayscale GBTC holdings to acquire a substantial amount of Bitcoin in order to implement its repayment strategy.  Related Reading: Bitcoin Dips, But Don’t Panic: ETFs See Three Days Of Bullish Inflow Genesis Converts GBTC Shares To Bitcoin In Preparation For Debt Settlement According to a Friday report by Bloomberg Law, Genesis finalized the sale of its 36 million GBTC shares, as revealed by the company’s lawyers in a court filing on April 2. Genesis had initially received legal approval to liquidate its GBTC holdings on February 2 with each unit share valued at $38.50. However, court documents showed that the current price of GBTC as at the time of sale on April 2 was $58.50 resulting in a total sale price of $2.1 billion.  Bloomberg’s report disclosed that the bankrupt crypto lender then used these proceeds to purchase 32,041 Bitcoin at a market price of $65,685, which will be distributed to creditors as part of its repayment plan, especially those who were previously enrolled in the Gemini Earn program.  These recent transactions align with Genesis’s bankruptcy plan which allows the conversion of GBTC shares to either Bitcoin or direct cash for the settlement of its existing debt. Currently, the crypto lender owes $3.5 billion to creditors and will commence repayment following court approval.  However, Genesis faces fierce opposition from its parent company, Digital Currency Group (DCG), over its proposed repayment plan. In a petition filed in February, DCG argues that its bankrupt subsidiary looks to settle creditors’ claims at amounts higher than their respective entitlement.  DCG believes such a repayment strategy violates the Bankruptcy Code and is “unfair” since it will only benefit senior creditors who will largely gain from an appreciation in Genesis’s crypto assets value while equity holders and company stakeholders are left in unfavorable positions. Founded in 2013, Genesis is one of the prominent crypto firms to file for bankruptcy. Its insolvency is largely linked to the sudden collapse of the defunct crypto exchange FTX. Related Reading: Bitcoin Whales Maintain Positive Accumulation Behavior Ahead Of 2024 Halving: Report Bitcoin Price Overview In other news, Bitcoin gained by 2.55% in the last day to reach a price of $69,339. Such price gain would be encouraging to investors especially following the token’s overall negative performance in the past week. On higher timeframes, BTC largely remains largely bullish as anticipation continues to build ahead of the halving event on April 19.  The fourth halving in Bitcoin’s history is expected to reduce the mining reward from 6.25 BTC to 3.125 BTC. BTC trading at $69,314 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured Image from Nairametrics, chart from Tradingview.com