Keeping Up With Bitcoin & Ethereum
Bitcoin hits new quarterly high! Scales $47,000 for the first time in 2022
After nearly 5 months of blood bath, and hitting the lowest of year 2022 at 33k, Bitcoin moved 45% and closing at $47,000 at the last day of Q1 FY’22.
Just 2 Million Bitcoin Left to Mine: Bitcoin Hits the 19th Million Milestone
There are just 21 Million Bitcoins ever available in the world . And 19th million mined last week, marking a sign of significant supply crisis.
Miners are currently mining 6.25 Bitcoins every 10 minutes with next halfing coming up in 2024 and last Bitcoin will be mined in the year 2140.
BITCOIN 2022, The Largest Conference Focused On Bitcoin, Held On Miami, Florida On 6–9Th April
McDonald’s and E-Commerce Giant- Shopify will soon start accepting Bitcoin as Payments!
In Bitcoin 2022, Miami conference, Jack Mallers, CEO of Strike, announced a partnership with Shopify, NCR, and the Blackhawk Network.
Jack Mallers announced- “Any online merchant that uses Shopify can accept payments without the 1949 boomer (credit card) network, receive it instantly, cash final, no intermediary, no 3% fee,”
Later in the conference McDonald’s also announced that it will Accept $BTC as payments because of Bitcoin Lightning Integration
Long Term Holdlers of Bitcoin continues to accumulate heavily!
On-Chain Analytics metrics shows Bitcoin Illiquid Supply continues to peak for it’s new ATH. This shows coins from short term holders are being circulating in the hand of long term holders and accumulation phase is going on.
Luna Foundation Guard (LFG) Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin
Luna Foundation Guard (LFG), has pledged to build reserve to support smart contract blockchain Terra’s dollar-pegged stablecoin UST. Bitcoin reserve will add addition layer of security for UST.
MacroStrategy now holds close to 130,000 Bitcoins!
MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per bitcoin. MicroStrategy now holds ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin.
The New Income Tax Regime linked Crypto Tax came under Effect in India from 1st April
During the Union Budget 2022, Finance Minister Nirmala Sitharaman introduced a flat 30 per cent tax on all gains arising from the sale of virtual digital assets, including cryptocurrencies. 1 per cent TDS on all crypto transactions. Crypto received as gifts will be taxable. And Crypto losses cannot be set off against crypto gains or other assets.
Ethereum staking for Ethereum 2.0 Continues to increase, marks 10 Million ETH (8.56% of Supply)!
Ethereum 2.0 intends to shift the ecosystem from the current proof of work (PoW) framework to a more cost-effective and environmentally friendly proof of stake (PoS) consensus mechanism. Transition of ETH 2.0 is schedule for end of Q2' FY 22
Billionaire Mark Cuban Extremely Bullish and Explains two Catalyst for Ethereum’s Coming ‘Merge’
(Currently ETH Trading at $3200)
First Catalyst: Proof of Work (POW) will be replaced by Proof of Stake(POS). Where tradition fight to provide better computational power in order to solve cryptography and generate block, it will be replaced by (POS) Validators reward getting deducted if validated invalid block.
Thus decreasing carbon footprint and Environmental friendly NFTs, Web3.
Second Catalyst: Ether’s issuance will be dropped by 90%. A 90% drop is equivalent to 3 Bitcoin Halving's. With last year’s London Hardfork EIP-1559, Ethereum is already burning gas fees paid by users, combining it with 90% reduction in issuance, Ether will be Deflationary Asset.
Second Biggest Crypto Hack Ever: $600 Million In Ether Stolen From NFT Gaming Blockchain
Ronin, an Ethereum-linked blockchain platform for non-fungible token-based video game Axie Infinity, hackers allegedly breached Ronin Network and extracted 173,600 ether tokens and 25.5 million USD coins — worth nearly $620 million.
Ethereum cofounder Vitalik Buterin quietly donates $5 million to Ukraine relief efforts
Vitalik Buterin, the founder of Ethereum Blockchain is a Russian Born and supporting Ukraine in Russia-Ukraine War Crisis. Buterin’s made two transaction of 250 Ether each. The donations can be seen on Etherscan, which displays cryptocurrency transactions, under his Ethereum domain name, vitalik.eth.
