Non-Fungible DAO to Airdrop Ordinals $NFTs on Magic Eden

Bitcoin Ordinals traders on the Magic Eden platform are in for a treat as the Non-Fungible DAO recently announced an airdrop of its new Ordinals ‘$NFT’ token is in the works.

Non-Fungible DAO’s X post indicates that this initiative is aimed at celebrating the community utilizing MSigner — a tool engineered by Magic Eden that aids in the process of signing Partially Signed Bitcoin Transactions (PSBTs) for managing Ordinals.

PancakeSwap (CAKE) Launches V4 with $3M CAKE Airdrop to Enhance DeFi Ecosystem

PancakeSwap, a decentralized exchange at the forefront of the DeFi sector, has announced the launch of PancakeSwap V4 along with an enticing $3 million CAKE token airdrop.

This move is set to invigorate the platform's community engagement and bolster its position within the DeFi ecosystem.

The airdrop campaign is aimed at both existing users and new participants, promoting the exploration of the platform's enhancements.

Metaverse to help tackle global warming: Study

A recent study suggests that the metaverse, a virtual 3D environment where the physical and digital worlds merge, has the potential to contribute to the reduction of global surface temperatures by up to 0.02 degrees Celsius by the end of the century.

Published in the journal Energy & Environmental Science, the study highlights the metaverse's ability to lower greenhouse gas emissions, decrease atmospheric carbon dioxide concentration.

The study emphasizes the potential benefits of metaverse-based remote working, distance learning, and virtual tourism in improving air quality.

By reducing transportation and commercial energy usage, the metaverse can also contribute to transforming energy distribution, with a greater energy supply directed towards the residential sector.

FTX estate faces estimated $3 to $5 billion in US government claims amid bankruptcy proceedings, court filing shows

U.S. government claims against the bankrupt crypto exchange FTX are expected to total between $3 and $5 billion, according to a court filing on Wednesday, subject to change and negotiations with applicable authorities.

However, it is important to note that in accordance with Chapter 11 priorities for the estate, FTX customers, Alameda Research lenders, administrative expenses, and non-governmental creditor claims will be paid out before any government and tax claims.

Bitcoin bearish bias remains strong

Bitcoin’s (BTC) attempt to recover and reclaim its all-time high above $73,000 is facing hurdles, with the asset currently trading below the $70,000 mark amid anticipation ahead of the halving event. Recent price movements have led to Bitcoin’s bearish price predictions, with a section of the market suggesting the outlook is part of the pre-halving retrace.

For instance, cryptocurrency trading expert Alan Santana, in a TradingView post on March 23, warned investors to brace for a sell-off, noting that Bitcoin’s bearish bias remains strong.

Binance Says Compliance Chief Detained in Nigeria Has No Decision-Making Power at Firm

Binance's Head of Financial Crime Compliance Tigran Gambaryan, detained in Nigeria by local authorities, has no decision-making power at the company and should not be held responsible in ongoing discussions between the exchange and government officials, the crypto exchange said in a Wednesday statement.

Nigerian authorities invited, then detained, Gambaryan and the exchange's Regional Manager for Africa, Nadeem Anjarwalla, in February.

Scaramucci expects Bitcoin to reach $170k, moving 4x ‘within 18 months of halving’

The USD has lost nearly 22% of its value since January 2020, Scaramucci says, citing how Bitcoin increased over 800%. The top cryptocurrency suffered extreme volatility throughout this period. However, for long-term holders, BTC returned significant profits.

Scaramucci sees the largest cryptocurrency as a long-term asset rather than a short-term inflation hedge.

Bitcoin, as a technical asset, could reach at least half the valuation of the gold market, Scaramucci said, adding that it could potentially end this cycle at $170,000.

Scaramucci also discussed Sam Bankman-Fried’s recent sentencing. The venture capital unit of Bankman-Fried’s FTX acquired a 30% stake in SkyBridge back in September 2022.

FTX went bankrupt that November.

Scaramucci expressed sadness for Bankman-Fried, given his potential and his mental condition. However, he thought the 25-year sentence was light.

He also emphasized that Bankman-Fried should have pled guilty before the trial.

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Demand appears to have outpaced issuance as Bitcoin halving nears

Analysts at CryptoQuant found that Bitcoin demand from “permanent holders” has outpaced BTC issuance for the first time in history, adding fuel for the potential price rally.

Bitcoin‘s demand from long-term holders has surged past issuance levels for the first time in the cryptocurrency’s history, according to a recent research report from CryptoQuant.

The cohort of long-term holders is now adding around 200,000 BTCs per month, analysts say, adding that the figure is far exceeding the monthly issuance of approximately 28,000 BTC.

Analysts at CryptoQuant noted that with the upcoming halving set to reduce monthly issuance to about 14,000 BTC, such a demand marks a significant shift in Bitcoin’s supply-demand dynamics.

Commenting on the upcoming halving, Tezos co-founder Arthur Breitman described the event as a “reduction in security budget,” suggesting that while the reward change for miners could benefit the Bitcoin ecosystem in the short term by potentially addressing overpayment for security, underscoring the need for future adjustments to emission policies to maintain security.

Standard Chartered Analyst Predicts Bitcoin Price By Year End Can Reach $150,000

Geoff Kendrick of Standard Chartered emphasizes the transformative impact of these developments, citing increased optimism within the financial sector and the broader cryptocurrency landscape.

Kendrick predicts a target of $150,000 for Bitcoin price by year end, reflecting a bullish outlook even in the absence of similar performance from other cryptocurrencies.

US SEC expected to deny spot Ether ETFs in May

The United States Securities and Exchange Commission (SEC) will most likely deny spot Ether exchange-traded funds (ETF) in May, according to a new report.

Reuters reported on April 24 that U.S. issuers and other firms expect the SEC to reject spot Ether ETF applications next month following meetings with the regulator in recent weeks, citing four people who participated in the meetings.

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DeFi’s total value locked falls $10 billion in April

The total value locked (TVL) on decentralized applications fell $10 billion in April, according to data aggregator DefiLlama.

That’s a 7% drop in 30 days, as the decentralized finance (DeFi) ecosystem closed last month with $138.6 billion, including liquid staked amounts.

Former Bitmex Chief Expects Bitcoin to Trade Within $60K-$70K Range Until August

Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between $60,000 and $70,000 until August.

“The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.”

dYdX founder to step down as CEO, taking chairman role

The founder of dYdX, Antonio Juliano, will step down as CEO of the crypto platform.

Juliano shared his plans in an official blog post, detailing his transition to the positions of chairman and president of the company. His successor as CEO will be Ivo Crnkovic-Rubsamen, who served as the operating partner of dYdX.

“I realized I didn’t actually have to run my own company. I am and will always be the founder of dYdX.”