Bitcoin rose by 3,230% on average after each halving

According to the report, after each mining reward was halved, the Bitcoin (BTC) rate increased by an average of 3,230%. The first halving, dated Nov. 28, 2012, reduced the reward from 50 BTC to 25 BTC.

Within 12 months of the halving, the asset’s value rose from $12 to $1,075. Over the year, the rate jumped by 8,858%. By January 2022, the inflation rate changed from 25.7% to 12%.

🗞️ Next Bitcoin Halving to Propel Prices to Between $150,000 and $169,000, Says Bitfinex

Bitfinex’s Alpha report delves into Bitcoin’s past halving events since the first one in 2012, employing a regression model to forecast the potential impact of the upcoming halving.

Despite acknowledging the simplicity of their model, researchers argue for a significant upswing in bitcoin’s value, projecting it to hit between $150,000 and $169,000.

This optimistic outlook is tempered by the recognition of unprecedented market dynamics, such as pre-halving all-time highs and increased selling pressure from both long-term and short-term BTC holders.

🗞️ An atomic swap protocol aims to bring DeFi on Bitcoin without wrapped tokens

AtomiqDeFi, powered by Mintlayer’s innovative atomic swap technology, aims to enhance interoperability, eliminate reliance on custodians and unlock new possibilities for decentralized finance on Bitcoin.

Creating a decentralized finance (DeFi) ecosystem on Bitcoin had never gained mainstream blockchain adoption before the Taproot upgrade, which has opened the door to smart contracts —self-executing codes that eliminate intermediaries— on Bitcoin’s layer 1 blockchain.

🗞️ Aptos Strikes DeFi Partnership With Microsoft, Brevan Howard, SK Telecom

Aptos Labs, the developers behind the Aptos layer-1 blockchain, said it is collaborating with Microsoft, Brevan Howard and South Korean wireless telecommunications operator SK Telecom to offer institutions a gateway into decentralized finance.

The partnership will offer Aptos Ascend, a suite of end-to-end institutional solutions like regulatory requirement help, tools to maintain account and transaction privacy and embedded features for know-your-customer (KYC) checks.

🗞️ DeGods NFT Solana Return Teased a Year After Ethereum Migration

The popular DeGods NFT collection may be set to make a shock homecoming.

In 2022, DeGods shot into the limelight on Solana, becoming the most prominent and arguably the most successful NFT collection on the network.

In Q1 2023, however, while Solana reeled from the knock-on effects of FTX’s collapse in light of their strong ties to the exchange’s founder, Sam Bankman-Fried, DeGods decided to migrate to Ethereum supposedly to explore new opportunities.

🗞️ FBI Warns Against Using Unregistered Cryptocurrency Money Transmitting Services

The Federal Bureau of Investigation (FBI) has issued a warning about using unregistered cryptocurrency money transmitting services that fail to comply with U.S. anti-money laundering laws.

The agency has provided tips for the public to protect themselves, advising them to avoid providers that do not require Know Your Customer (KYC) information.

🗞️ Jito becomes largest protocol on Solana with $1.4 billion in TVL

Liquid staking and MEV infrastructure project Jito has become the largest protocol on Solana, with $1.4 billion in total value locked. At the equivalent of around 10 million SOL, Jito accounts for some 38% of the Solana ecosystem’s $3.7 billion TVL, according to DeFiLlama data.

Staking protocol Marinade is second with $1.37 billion in TVL, followed by Kamino, Raydium, and Marginfi at $1 billion, $613 million, and $424 million, respectively.

🗞️ DOJ taps FRA over Sullivan & Cromwell for Binance's 3-year monitorship: report

The United States Department of Justice (DOJ) appointed Forensic Risk Alliance (FRA) to serve as the outside monitor over the crypto exchange Binance, reports Bloomberg citing people familiar with the matter.

FRA, a London-based providing services in forensic accounting and compliance consulting services, beat out Sullivan & Cromwell to take on the position, Bloomberg adds. Binance must undergo a monitorship of three years as part of its plea deal with the DOJ related to money laundering violations.

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🗞️ Exchanges told SEC leaning toward approval of spot Ethereum ETFs: report

Securities and Exchange Commission staff told exchanges on Monday the agency is "leaning" towards approving spot ether ETFs, according to a report in Barron's, which cited anonymous sources.

On Monday, news that the SEC had perhaps changed its tune regarding spot ether ETFs shook the world of crypto and caused the price of ETH to surge.

Bloomberg ETF analysts were the first to suggest that the U.S. government might do an about-face on the Ethereum-based products, given shifting political winds.

🗞️ Bitcoin Difficulty Bounces Back! Mining Profitability on the Rise!

After a recent 5.62% decrease in Bitcoin's mining difficulty, there's finally some good news for miners! At block 844,704 on May 23, 2024, the difficulty surged by 1.48%, reaching an impressive 84.38 trillion.

The dip in difficulty earlier this month was accompanied by a drop in the hashprice, falling below $45 per petahash. But fear not, as BTC's value has been climbing, so has the hashprice, now standing at around $54.85.

With Bitcoin's price soaring over $9,000 since the hashrate hit a low of 582 EH/s, miners are back in business! The overall hashrate has rebounded to over 600 EH/s, indicating a positive trend for the mining ecosystem.

This bounce-back in difficulty and hashrate suggests a recovering network, with mining profitability showing signs of improvement. So, miners, keep those rigs running and your eyes on the prize – the future of Bitcoin mining is looking brighter than ever!

🗞️ Uniswap gets $5.5bn bump from Ethereum ETF approval

Trading volume on decentralised exchanges surged to $11.2 billion on Thursday, the day the Securities and Exchange Commission approved a set of filings for spot Ethereum exchange-traded funds.

Uniswap, the largest decentralised exchange, or DEX, especially benefited from the increase, generating $5.5 billion in trading volume on Thursday alone, with Ether accounting for nearly $3 billion of that volume.