🎉 The Bitcoin Halving is Here

In this edition, we explore the Bitcoin Halving, Tether’s new era, Hong Kong’s ETF approvals and more.   

💥  Cutting Edge with Shoal Research

In collaboration with Shoal Research, this week’s special feature will dive into the Bitcoin Halving.

What is it? The Bitcoin halving is a predetermined event in the Bitcoin protocol that occurs after every 210,000 blocks, which is approximately every four years. At the halving, the reward that miners receive for mining a new block is halved.

What does it do? The Bitcoin halving reduces the rate at which new bitcoins are created, effectively decreasing the inflation rate of the cryptocurrency. It also plays a crucial role in maintaining the scarcity of Bitcoin, as the total supply is capped at 21 million coins.

What does it mean? The halving event signifies a significant reduction in the issuance of new bitcoins, making each bitcoin scarcer and potentially more valuable over time. It highlights Bitcoin's deflationary monetary policy and its contrast to traditional fiat currencies, which are subject to inflationary pressures. Additionally, it provides an opportunity for investors to analyze historical patterns and speculate on potential price movements before and after the event.

What does it represent to the larger sector? The Bitcoin halving tends to serves as a catalyst for increased attention and speculation in the cryptocurrency market. 

How to invest? The ticker for Bitcoin is $BTC.

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⏰ Crypto News Recap

The Bitcoin Halving is Here

On April 19th, the much anticipated Bitcoin halving took place at block 840,000. The Bitcoin halving occurs every 210,000 blocks and it marks a halving of the rewards that minors receive. The most recent reward dropped from 6.25 BTC per mined block to 3.125 BTC. The Bitcoin halving historically signals a bull market and the beginning of altcoin season. In the time after the halving, Bitcoin transactions rose significantly, likely due to the launch of Runes. By Sunday, the transaction fees settled to between 5-7 Bitcoin per block.

Tether’s New Era 

On Thursday, Tether announced four new divisions to the company: Tether Power, Tether Data, Tether Edu and Tether Finance. Tether is the company that launched the USDT stablecoin. Tether Power is focused on sustainable Bitcoin projects, Tether Data will focus on new technologies, Tether Edu will focus on education linked to blockchain adoption and Tether Finance will focus on financial aspects of the company.

Hong Kong Approves Bitcoin and Ether ETF

On April 15th, Hong Kong regulators approved a spot Bitcoin and Ether ETF. The move follows the recent approval of a Bitcoin Spot ETF in America. Since the crackdown on crypto in mainland China, Hong Kong has been taking steps to establish itself as a crypto hub. The Hong Kong approval adds to an ongoing trend of increasing crypto popularity in Asia.

Mango Market Exploiter Goes to Jury 

A jury began discussions regarding the Mango Market exploit. The exploit took place in 2022 that resulted in $110 million lost. Avi Eisenberg faces 20 years in prison for market manipulation and fraud. The Mango Market trial follows SBF receiving 25 years in prison for the FTX meltdown.

📚 N+1 Recommendations 

The N+1 reading and media recommendations are sourced from our team of experts and offer weekly suggestions for learning more about blockchain, crypto, finance and technology.

This weeks recommendation: Developer Report

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