Weekly Crypto Digest for April 15-22, 2024
Sunday, April 21, 2024
In the latest issue of Weekly Crypto Digest, read more about Bitcoin halving happened, Hong Kong approved BTC and ETH ETFs, and more news.
The fourth Bitcoin halving took place
On April 20, the Bitcoin network underwent its fourth halving event when the chain reached a height of #840,000. This resulted in the reward for discovering a block decreasing from 6.25 BTC to 3.125 BTC. The ViaBTC pool was responsible for mining the block. The mining difficulty for Bitcoin was recorded at 86.39 T at the time of the halving. This halving block (#840,000) included 3,050 transactions, for which users paid 37.6256 BTC (approximately $2.4 million) in fees.
The Hong Kong regulator has approved spot ETFs based on Bitcoin and Ethereum
The Securities and Futures Commission of Hong Kong has given the green light to Boshi International, HashKey Capital, China Asset Management, and Harvest Investment to launch spot Bitcoin and Ethereum ETFs. Matrixport calculations suggest that the demand for local exchange funds based on the first cryptocurrency will reach $25 billion.
The Solana team has released an update to combat network congestion
The developers of the Solana blockchain have released an update of version 1.17.31, designed to solve the problem of network congestion.
As a reminder, in the period from April 4 to 5, 2024, approximately 77% of transactions in the Solana network were not completed. Presumably, this happened because of the hype around the memos.
On April 9, blockchain developers announced that they intend to solve the problem of non-fulfillment of transactions by April 15, 2024. However, they noted that the implementation date for the fixes may be postponed during the testing of future updates. Then, the team explained that the reason for periodic data processing failures is the QUIC protocol.
a16z attracted $7.2 billion
Venture company Andreessen Horowitz raised $7.2 billion. The funds will be divided between various areas within the company, including:
- startups that contribute to "national interests" — $600 million;
- developing or later-stage startups — $3.75 billion;
- gaming startups — $600 million.
CEO Tether announced the launch of the tokenization platform
Paolo Ardoino, the CEO of Tether, the issuer of USDT stablecoin, recently announced the launch of a tokenization platform. The platform will be non-custodial and support various blockchains and assets. Additionally, he stated that the new solution will be available to everyone. Ardoino referred to the platform as a "masterpiece".
Earlier, experts from 21.co predicted that by 2030, the market capitalization of tokenized assets would reach $3.5 trillion under a pessimistic scenario and $10 trillion under an optimistic scenario.
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