Nfts
Crypto NFT Today: April Week 2
Welcome to another edition of Crypto NFT Today! The last two weeks have been full of unmissable events that will determine 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 plenty of essential news you should know. So let’s go ahead and see what happens!
Hong Kong to approve Spot Bitcoin ETFs
According to Reuters, insiders familiar with the matter suggest that Hong Kong’s crypto regulators are set to greenlight the first batch of applications for Bitcoin spot exchange-traded funds (ETFs) next week. If approved, these products could potentially begin trading in April. This development could position Australia and Hong Kong as the main jurisdictions in Asia to introduce spot Bitcoin ETFs, while Singapore and the UAE currently show no signs of similar initiatives.
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It appears that Hong Kong regulatory authorities have accelerated the approval process. Notably, major players like Harvest Global Investments and VSFG, together with Value Partners, have submitted applications to the Securities and Futures Commission (SFC) for a spot ETF, according to the CoinDesk report.
Bitcoin hit $70,000 despite US inflation
On April 10, Bitcoin has rebounded to $70,000 after falling in response to higher-than-expected U.S. inflation figures for March. At the start of the US trading session, BTC fell almost 4% to $67,500 following a government report indicating a faster increase in the Consumer Price Index (CPI) than what analysts had predicted. This has led investors to adjust their expectations for possible rate cuts in the coming year.
The slowdown has affected various asset classes, including bitcoin, but the crypto gradually recovered all losses and even experienced a 1% increase over the previous 24 hours. Bitcoin’s performance outpaced that of US stocks and gold, both of which saw significant declines during the day. At the time of writing, Bitcoin had retreated slightly from the $70,000 mark, trading at $69,800.
Today, Uniswap Labs received a Wells Notice from the SEC
And we’re ready to fight
This is the latest political effort to target even top crypto players like Uniswap and Coinbase.
All Uniswap products and the Uniswap protocol are unaffectedhttps://t.co/i2p5LubELk
– Uniswap Labs 🦄 (@Uniswap) April 10, 2024
Wells notices serve as preliminary warnings, alerting recipients of charges the regulator plans to bring against them, often leading to enforcement action.
Uniswap receives notice from the SEC
Decentralized crypto exchange Uniswap has revealed that it has received notice from the United States Securities and Exchange Commission (SEC) indicating its intention to pursue enforcement action. Following this announcement, Uniswap’s native token, UNI, saw an immediate decline of 9.5%.
Dogecoin makes more millionaires
In 2021, Dogecoin gained attention on the Internet following remarks from Elon Musk and a large following on social media. Experiencing some of the most remarkable price increases in financial history, the token has soared over 33,000% since its inception in 2013.
For comparison, at the height of 2021, the maximum amount of DOGE held by a single wallet exceeded 5 billion DOGE, which equates to approximately $3.5 billion. Remarkably, the owner of this wallet has refrained from liquidating any DOGE holdings, causing its current valuation to exceed $1 billion.