Bitcoin experienced a sharp drop in value on April 19, plunging to seven-week lows amidst escalating geopolitical tensions in the Middle East.
This decline saw prices fall to $59,630, as reported by Cointelegraph Markets Pro and TradingView.
The decrease coincided with renewed conflicts between Iran and Israel, a situation that has notably affected Bitcoin prices throughout the month, resulting in a significant drop from highs around $70,000.
On April 18, Bitcoin had shown signs of recovery; however, this was short-lived as the market quickly responded to the unfolding events.
Despite initial concerns, the cryptocurrency managed a robust comeback, climbing to local peaks of $65,190, amid speculation that the tensions might not worsen.
Market analysts closely followed the price movements. On X (formerly Twitter), the trader known as Skew remarked on the extreme market volatility impacting both long and short positions.
He observed increased activity from buyers, noting, “Shorts blown out here & now seeing more interest from longs aka longs opening.”
He also highlighted that the recovery was predominantly driven by spot demand, with substantial bids placed during the dip below $60,000.
READ MORE: Laughing Shiba Inu (LSHIB) to Skyrocket 3,600% in Next 48 Hours, While SHIB and DOGE Lose Steam
Further insights from CoinGlass showed that short sellers were caught off guard as sell-side liquidity vanished in the $64,000 to $65,000 range almost instantaneously.
Another commentator, Credible Crypto, emphasized the strategic placement of $100 million in Bitcoin bids just below the current price to support upward movement, cautioning, “Good luck getting back in if you sold the bottom because of some news headline.”
Over the past day, the cryptocurrency market saw $138 million in short liquidations across various platforms.
This volatile environment overshadowed the approaching Bitcoin block subsidy halving, an event that traditionally garners significant attention.
According to trading firm QCP Capital, the market had established a strong baseline support at the recent lows, with anticipation slowly building for a potential rally as the halving neared.
With less than 15 hours to the halving, traders like Jelle and Crypto Ed provided their perspectives.
Jelle referred to efforts to bolster the weekly close with “Operation ‘save the weekly’,” while Crypto Ed suggested that the bottom might have been reached, projecting an upward trend if no further disruptive news emerged from the Middle East.
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Tether, a prominent stablecoin operator, has recently announced its plan to integrate its U.S. dollar-pegged stablecoin, USDT, into Telegram’s Web3 platform, The Open Network (TON).
This integration, declared on April 19, also includes the launch of the gold-pegged Tether Gold (XAUT) stablecoin on TON.
These developments were unveiled alongside keynote speeches by Tether CEO Paolo Ardoino and Telegram founder Pavel Durov at the Token2049 crypto event in Dubai.
In his speech, Ardoino emphasized the aligned visions of TON and Tether regarding an open, decentralized internet and a borderless financial system.
He expressed that the introduction of USDT and XAUT on TON will facilitate seamless value transfers, thereby enhancing activity and liquidity in the ecosystem.
This move is intended to provide a financial experience comparable to traditional systems, stating, “The launch of USDT and XAUT on TON will allow seamless value transfer, increasing activity and liquidity while offering users a financial experience that can match those found in the traditional financial system.”
Tether’s expansion continues to be significant, with the stablecoin now being supported on 15 different blockchain platforms, including popular ones like Tron and Ethereum.
This expansion is pivotal for TON as well, especially since its native token, Toncoin, recently surpassed Dogecoin to become the ninth-largest cryptocurrency by market cap.
The integration with TON is particularly strategic due to its direct connection with Telegram, which boasts over 900 million users globally.
The TON blockchain’s compatibility with Telegram is set to enhance the usability of USDT and XAUT, providing a straightforward, borderless payment experience for Telegram users.
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The announcement highlighted the potential of this integration: “The TON blockchain works with Telegram, meaning USDT and XAUT on TON have the potential to provide a simple, borderless experience for peer-to-peer payments for Telegram’s user base.”
Jack Booth, the marketing head of TON Foundation, shared insights with Cointelegraph about the unique capabilities of the TON ecosystem, which not only supports transfers between fiat and crypto but also aims to surpass the efficiency and convenience of traditional financial systems.
Booth revealed plans for accessible fiat on-ramps at launch and forthcoming global off-ramps to bank cards and accounts, emphasizing the groundbreaking potential for mass adoption of crypto infrastructure for global payments.
This initiative marks yet another intersection between Tether and Telegram, with USDT already being a default option in Wallet, a third-party custodial wallet for Telegram users.
Halil Mirakhmed, chief operating officer of Wallet, noted that while TON-based USDT will be introduced as an additional option, the Tron network will continue to be the primary blockchain for TRC-20 USDT transactions, which currently represents the largest issuance volume of USDT.
The news of this launch comes shortly after Tether introduced a recovery tool in March 2024, facilitating the migration of USDT across various blockchains.
As of early March, USDT achieved a record-high market cap of $100 billion.
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Swedish crypto miners have incurred a significant tax debt exceeding $90 million, following a comprehensive audit by the Skatteverket, Sweden’s Tax Agency.
The agency scrutinized 21 crypto-mining firms from 2020 to 2023, uncovering tax discrepancies in 18 of these firms.
The investigations brought to light various misrepresentations and omissions that enabled these firms to exploit tax incentives improperly.
The Skatteverket‘s findings indicated that several crypto firms manipulated their business descriptions to evade value-added tax (VAT) on eligible operations.
Additionally, some managed to dodge import taxes on their mining hardware and income tax on the revenues generated from mining activities.
The issues highlighted involve not only unpaid taxes but also improperly claimed rebates and underreported crypto assets.
The Tax Agency elucidated the situation, stating, “The described approach leads to tax disappearing from the country in the form of incorrect payments of input VAT, unpaid output VAT and unreported crypto assets.”
As a result, the implicated crypto mining firms have been collectively ordered to repay up to 990 million Swedish krona (about $90 million).
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This sum includes 932 million krona ($85.4 million) in VAT discrepancies and an additional 57.9 million krona ($5.3 million) in tax penalties.
Despite the hefty tax demand, several of these firms appealed the decision.
The administrative court reviewed these appeals, ultimately upholding the claims of two firms while dismissing the remainder.
Adjustments to the originally stated amounts were made based on these verdicts.
In a related development in November 2023, Hive Digital Technologies, a player in the crypto-mining industry, expanded its operations in Sweden.
The firm purchased a commercial property along with a data center in Boden. Johanna Thornblad, the country president for Sweden at Hive, remarked on this strategic move: “The new data center will enable HIVE to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest ‘green’ energy powered data center.”
This facility is set to accommodate the latest generation of ASIC servers, thereby boosting the company’s Bitcoin production capabilities.
Hive Digital Technologies is known for its dedication to green energy solutions, operating data centers in Canada, Sweden, and Iceland to facilitate eco-friendly crypto mining.
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The recent destabilization of Pax Dollar (USDP), a stablecoin, where its price unexpectedly soared to $1.29 from its usual peg at $1, was primarily attributed to anomalies in pricing data sourced from various trading venues, rather than any inherent issues with the stablecoin’s protocol itself.
This incident occurred on April 16, but the price stabilized back to $1 within three hours, as recorded by CoinMarketCap.
A spokesperson from Paxos, the entity behind USDP, explained the situation to Cointelegraph, stating, “These platforms pull pricing data from trading venues.
Yesterday, there were sharp spikes in price on certain venues that impacted the price of USDP on pricing aggregators.
“Paxos does not control markets or trading activity on other trading venues.”
This spike in price coincided with a notable increase in the market capitalization of USDP, which temporarily jumped from $140 million to $181 million.
Despite this brief disruption, the market cap of USDP reverted to its previous level of $140 million when the coin’s value returned to $1.
As of now, the market capitalization stands at $134 million. Paxos reassures that the USDP can always be redeemed at its intended value of $1, stating, “Paxos always values USDP as $1, and customers can always create and redeem USDP from Paxos for $1.
Paxos offers APIs that offer 1:1 redemption 24/7.
If venues choose not to implement these APIs or don’t want to make sure liquidity is supported, it is up to the user to determine the best approach for ordering.”
This fluctuation was not isolated.
A trader faced a significant loss, being liquidated for $529,000 in Circle’s USD Coin, shortly after USDP peaked at $1.18 on the same day.
The incident highlighted the risks involved in trading stablecoins, especially on platforms that may not support proper liquidity or accurate pricing.
Paxos issued further advice for traders, emphasizing the importance of cautious trading practices: “When trading on any venue, users should take a look at the order book before placing a larger order.
Particularly for stablecoins, users should make sure they use limit orders,” a spokesperson advised. Historical data from CoinMarketCap shows that USDP has experienced other substantial price swings, hitting a low of $0.87 in March 2020 and a high of $2.02 in November 2021.
Presently, USDP ranks as the 13th largest stablecoin by market capitalization.
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Sleepy Shiba (SLESHIB) could become a viral memecoin, like Shiba Inu (SHIB) and Book of Meme (BOME).
Sleepy Shiba (SLESHIB), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Book of Meme (BOME).
Early investors in SHIB and BOME made astronomical returns, and Sleepy Shiba presents a similar opportunity.
SLESHIB currently has a market cap of around $25,000, with each coin trading around $0.00000845.
The exciting memecoin is poised to rally 13,000% in the coming 4 days, as the developers have already announced that Sleepy Shiba (contract address: 48ArdqDK1WJpicfi4evR3AboK4WJs6LZHbAmnpN55Z2N) will be listed on MEXC – a leading centralized crypto exchange.
This listing will be a massive bullish event for SLESHIB’s price, as it will give it huge exposure and propel its price, as millions of new traders will be able to easily buy Sleepy Shiba.
Currently, SLESHIB can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors could make huge returns once the MEXC listing goes live. To buy SLESHIB on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for SLESHIB by entering its contract address in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Book of Meme (BOME) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and Book of Meme (BOME) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and BOME investors are instead investing in new Solana memecoins, like Sleepy Shiba.
Tether, the operator of the world’s largest stablecoin by market value, is undergoing significant restructuring to diversify its offerings beyond stablecoin development.
The announcement, made on April 18, introduces four new business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu, signaling a broad expansion of the company’s scope and mission to provide a variety of new infrastructure solutions, investments, and services.
Tether Data will delve into strategic investments focusing on cutting-edge technologies such as artificial intelligence and peer-to-peer platforms, including notable projects like Holepunch, Keet, and Pear Runtime.
Tether Finance is set to remain the core of the company’s operations, concentrating on its traditional stablecoin products and financial services with the aim of democratizing the global financial system.
The newly formed Tether Power will enhance the company’s efforts in mining and energy, whereas Tether Edu is dedicated to advancing digital education and fostering regional and global blockchain adoption.
Paolo Ardoino, Tether’s CEO, emphasized the transformative vision of the company: “We disrupted the traditional financial landscape with the world’s first and most trusted stablecoin,” he stated.
Ardoino further elaborated on the company’s forward-thinking trajectory: “With this evolution beyond our traditional stablecoin offerings, we are ready to build and support the invention and implementation of cutting-edge technology that removes the limitations of what’s possible in this world.”
READ MORE: Stock and Crypto Sectors Face Potential Correction Amid Economic Uncertainty, Says Expert
Since its founding in 2014, Tether has grown into a key player in the cryptocurrency ecosystem, operating USDT, the largest stablecoin by market capitalization and the highest in trading volumes.
The company also manages a variety of other stablecoins including the Euro-pegged Tether Token EURT, the offshore Chinese Yuan CNH₮, and the gold-backed Tether Gold XAUt.
Tether’s recent endeavors include actively expanding into the Bitcoin mining sector throughout 2023, establishing its own mining operations and developing proprietary software.
In early 2024, Tether inaugurated an educational division offering courses and workshops aimed at enhancing blockchain-related skills.
Moreover, Tether’s engagement in Bitcoin has been substantial, purchasing 8,888 BTC for $618 million in late March 2024.
By the end of that month, the company’s holdings amounted to 75,354 Bitcoin, acquired at an average price of $30,305.
This strategic diversification and accumulation highlight Tether’s ongoing commitment to influencing and shaping the financial and technological landscapes.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Laughing Shiba Inu (LSHIB) is set to have an explosive rally in the next 48 hours, and the new Solana memecoin is set to attract massive investment from early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors.
Laughing Shiba Inu (LSHIB) is posed to skyrocket 11,000% in the next two days, following an announcement on Saturday that the Solana memecoin will be listed on ByBit in April.
ByBit is one of the largest centralized cryptocurrency exchanges in the world, and LSHIB listing on the platform is a major bullish catalyst for its price.
This is because the listing will lead to millions of dollars of capital flowing into LSHIB, as it will become more accessible.
These inflows will lead to LSHIB’s market cap and price skyrocketing once the listing goes live, so many early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors are buying Laughing Shiba Inu before the ByBit listing goes live.
Laughing Shiba Inu (contract address: 28UNYzpJxAd3PXbPZcfwpBgEhbfQMZV7wZHFoAi8MYx5) can currently only be purchased on Solana decentralized exchanges, such as Raydium and Jupiter.
Users can purchase LSHIB via these platforms by connecting a Solflare, MetaMask or Phantom wallet, and swapping Solana for the token by entering its contract address.
Laughing Shiba Inu, which was launched earlier this week, currently has a market cap of just $14,000, meaning that investors who buy at the current price could make hundreds of thousands or millions of dollars when its market cap breaches the $2mn-$5mn range.
It’s therefore not surprising that many early Dogecoin (DOGE), Shiba Inu (SHIB) and DogWifHat (WIF) investors are pouring funds into LSHIB.
Laughing Shiba Inu (LSHIB) has been attracting significant investment from early investors of Shiba Inu (SHIB) and Dogecoin (DOGE).
Laughing Shiba Inu, a newly launched Solana memecoin, is poised to rally 3,600% in the coming 48 hours, after a period of price consolidation.
Earlier, the LSHIB developers announced via the official Laughing Shiba Inu Telegram channel that they would be burning 20% of the total supply.
Laughing Shiba Inu was launched earlier this week, and the memecoin has already been attracting investment from early investors of Shiba Inu (SHIB) and Dogecoin (DOGE).
LSHIB’s market cap is just under $10,000 at the moment, and this means that Laughing Shiba Inu has immense upside potential, as it will create a new wave of memecoin millionaires when its market cap hits $250,000-$500,000.
Shiba Inu (SHIB) and Dogecoin (DOGE), two other dog-themed memecoins, have been losing momentum in recent weeks, leading investors to cash in their profits and pour funds into new memecoins, such as LSHIB (contract address: 28UNYzpJxAd3PXbPZcfwpBgEhbfQMZV7wZHFoAi8MYx5).
Another exciting memecoin which has huge upside potential is Bitcoin Bull (BTCBULL).
Bitcoin Bull (contract address: 3Yijkd9pDyQJEgesWCJmQ2PWvbVc4qdd1HieQsJ7gjE9) is also on the Solana blockchain, and it was launched this week on Raydium.
BTCBULL is forecast to rally at least 2,800% in the next 24 hours and over 7,000% within the coming five days.
Both Laughing Shiba Inu and BTCBULL are currently only available on decentralized Solana exchanges, like Raydium and Jupiter, but listings on centralized exchanges are planned in the near future.
To buy these coins, traders need to first buy some Solana and send it to a Metamask or Solflare wallet; then, they can swap SOL for the desired coin using Raydium or Jupiter.
These listings, which are planned later in April, will cause the price of both LSHIB and BTCBULL coin to explode, generating astronomical returns for early investors.
Picture this: you had the opportunity to mint a CryptoPunk back in 2017 for just 0.08 ETH, but you passed it up. Or maybe you had your eye on the Bored Ape Yacht Club when it first launched, but you hesitated, only to watch in disbelief as the floor price skyrocketed to over 100 ETH. These are just a couple of examples of the countless NFT projects that have exploded in popularity and value, leaving many would-be investors kicking themselves for not getting in early.
Now, you’re faced with another potential game-changer in the world of decentralized gaming: the RACE Heroes NFT Pre-sale. RACE Protocol, the innovative multi-chain infrastructure platform designed to facilitate the development and deployment of secure and fair web3 games, is introducing this exclusive NFT collection, and if you don’t act fast, you risk missing out on what could be the next big thing.
“We’re thrilled to introduce the RACE Heroes NFT Pre-sale, offering early adopters the chance to become part of our decentralized gaming revolution. With exclusive benefits and incentives for community members, this is an opportunity not to be missed.” – Art, Co-founder, RACE Protocol
What sets the RACE Heroes NFT collection apart is the unique combination of benefits and features it offers to holders. By acquiring one of these limited-edition NFTs, you’ll gain access to a revenue-sharing model that ensures ongoing rewards based on the fees and sales generated within the RACE Protocol ecosystem.
In addition to the potential financial benefits, holding a RACE Heroes NFT also grants you access to a range of exclusive gaming experiences and opportunities within the RACE Protocol ecosystem. As the platform continues to grow and attract developers from around the world, you’ll be part of an elite group of players who have early access to the latest and greatest web3 games built on the protocol.
But the clock is ticking, and the window of opportunity is rapidly closing. The RACE Heroes NFT Pre-sale is a limited-time event, and once it’s over, your chance to secure one of these exclusive NFTs may be gone for good. Don’t let history repeat itself by sitting on the sidelines and watching as others seize this incredible opportunity.
The world of decentralized gaming is on the cusp of a major breakthrough, and the RACE Heroes NFT collection is poised to be at the forefront of this revolution. Don’t let the RACE Heroes NFT Pre-sale become another missed opportunity that you’ll regret down the line. Take action now and secure your place in the future of decentralized gaming before it’s too late.
To participate in the RACE Heroes NFT Pre-sale you can visit this page. For more information and updates, consider joining their Discord community and following their Telegram channel.
Scientist Doge (SCDOGE) has huge potential, and it is poised to skyrocket over 6,000% in the next 72 hours, delivering massive returns to early investors, as Dogecoin (DOGE) and Shiba Inu (SHIB) did.
In the ever-evolving world of cryptocurrency, a new contender has emerged with a bang: Scientist Doge (SCDOGE). Launched just today, SCDOGE is not just any memecoin; it’s a token with a twist, inspired by the world of science and innovation, combined with the viral appeal of the beloved Shiba Inu meme.
The brains behind Scientist Doge have infused this new cryptocurrency with features that promise to outshine its predecessors, Dogecoin and Shiba Inu. Leveraging the robust and fast Solana blockchain, SCDOGE offers significantly lower transaction fees and faster processing times, which could be a game-changer in its uptake and utility.
What sets Scientist Doge apart is its unique approach to community involvement and rewards. Each transaction with SCDOGE contributes to a ‘Research Fund,’ a wallet dedicated to supporting science education and innovation grants. This philanthropic angle not only adds an altruistic appeal to the coin but also aligns with the interests of a younger, more socially conscious investor.
SCDOGE (contract address: 89dzEpKpVNebh8MWCAzN75mSXuYjffJ2yTBntf1CgGVC) has potential to generate huge gains for early investors, as it just launched on Solana today. It is currently only tradeable on decentralized exchanges like Raydium and Jupiter, by swapping Solana for SCDOGE.
The debut has been met with considerable enthusiasm, with early trading volumes suggesting a robust appetite among crypto enthusiasts. Analysts are watching closely, predicting that SCDOGE might replicate the meteoric rise of its meme predecessors.
As the digital currency continues to gain traction, the question remains: could this be the memecoin that not only challenges but potentially outpaces Dogecoin and Shiba Inu in popularity and utility? While the market for cryptocurrencies remains notoriously volatile, the innovative approach and strong community support for Scientist Doge hint at a bright future ahead.
For those looking to diversify their crypto portfolios, keeping an eye on Scientist Doge could be well worth it. With its scientific flair and community-focused ethos, SCDOGE is poised to make a significant impact in the meme coin arena.