This Week: Bitcoin Past 1 Billion Transactions in Monumental Milestone

WHAT’S BREWING IN CRYPTO NEWS? Bitcoin Past 1 Billion Transactions in Monumental Milestone

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This Week: Bitcoin Past 1 Billion Transactions in Monumental Milestone

May 2, 2024.

In an electrifying display of digital dominance, the Bitcoin network has just achieved a historical milestone by processing its one billionth transaction in block 842,241 at 9:34 pm UTC on May 5.

Fifteen years after the initial spark of the cryptocurrency revolution, Bitcoin continues to defy expectations and push the boundaries of financial technology.

We see the text ‘1 Billion’ spelled out in floating gold balloons over a dark purple background.

Amid cheers and champagne toasts in the crypto community, this historic milestone arrived on a wave of buzzing activity. The hype peaked during Bitcoin’s fourth halving event in April, when daily transactions soared from an average of 178,475 to an all-time high of 926,000.

While Bitcoin has been the trailblazer setting the stage for a decentralized financial future, it wasn’t the first to cross the billion transaction threshold. Ethereum took that crown a few years ago. However, Bitcoin is catching up fast, showcasing its resilience and growing influence with a robust price rebound to $65,393 as of the time of writing.

The billionth transaction is a roaring shoutout to Bitcoin’s scaling capabilities and technological prowess. For perspective, Visa took a leisurely 25 years to reach its one-billionth transaction, which is 10 years later than Bitcoin smashed the milestone at just 15 years.

As Bitcoin gears up to dash towards its next billion transactions, the crypto world watches with bated breath. Will Bitcoin continue to break barriers and redefine our understanding of money itself? Only time will tell, but today, Bitcoin enthusiasts and investors worldwide have a monumental reason to celebrate a trillion-dollar asset class that’s just getting started.

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This Week: Hong Kong Debuts Asia’s First Bitcoin & Ethereum Spot ETFs

May 2, 2024.

The Hong Kong Stock Exchange just hit the ground running on April 30 with Asia’s first spot Bitcoin and Ethereum exchange-traded funds (ETFs).

The brains behind this groundbreaking rollout are China Asset Management Co., Harvest Global Investments, and Bosera International, partnering with HashKey Capital.

The debut of Hong Kong’s spot ETFs is expected to light a fire under the competition within Asia and out, potentially nudging other nations and individual investors to jump on the bandwagon with similar financial products.

The red Hong Kong flag is behind a full grey sack and a stack of gold Bitcoins, all over a royal purple background.

In case you haven’t heard yet, an ETF, or Exchange-Traded Fund, lets investors use regular money to buy shares in a fund holding cryptocurrencies. That means you can invest in digital currencies without directly handling the assets. Hong Kong has been using virtual asset (VA) futures ETFs since December 2022.

A spot ETF, on the other hand, allows investors to buy and hold cryptocurrencies directly. Only a handful of countries in the world allow spot ETFs, and until April 30, no Asian countries were on that list. That’s why it’s such a big deal that the Hong Kong Stock Exchange implemented them on Tuesday.

Right out of the gate, the spot Bitcoin and Ethereum ETFs in Hong Kong have been showing off gains. It’s clear that investors in Asian markets are interested in crypto, and we can expect more developments soon.

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April 25, 2024.

Shiba Inu, the creative minds behind the beloved meme coin SHIB, have fetched an impressive $12 million to kick-start a thrilling new project of crafting a Layer 3 blockchain with a sharp focus on privacy.

They amassed these funds through the sale of their newly minted token, TREAT, with backing from heavy-hitter venture capital firms such as Animoca Brands, Polygon Ventures, and more.

A Shiba Inu dog in an orange hoodie is sitting at a laptop with a dark red background behind.

This TREAT Token hasn’t been released yet, but it’s slated to be the engine that powers the upcoming blockchain. It’ll strut its stuff on top of Shibarium, Shiba Inu’s Ethereum Layer 2 network.

Shiba Inu’s grand vision is to beef up transaction privacy. To pull this off, the SHIB team plans to leverage “Fully Homomorphic Encryption” (FHE). This fancy term essentially means that transactions can be processed without the need to decrypt sensitive data, adding an extra layer of security.

Investors were practically chomping at the bit to get in on the action, with valuations for the fundraising soaring from $75 million to a whopping $200 million.

Shiba Inu’s SHIB token skyrocketed to stardom alongside other meme coins in 2024, riding high on the buzz from the first Bitcoin spot ETF launch in January. Their ecosystem already boasts tokens like BONE, native to Shibarium, and LEASH, a treat for loyal SHIB holders.

The exact date for when this TREAT token and its blockchain sidekick will make their grand debut remains a mystery. But one thing’s for sure: Shiba Inu isn’t just resting on their meme coin laurels. They’re ready to shake up the decentralized finance (DeFi) scene and make some serious waves. Keep those tails wagging for more paw-some updates.

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April 18, 2024.

Bitcoin’s much-anticipated halving event is just around the corner, and investors and crypto enthusiasts are in an excited frenzy as the big day on April 20 approaches.

But why is the halving such a big deal?

Roughly once every four years, the halving event slashes the reward for mining new Bitcoins in half. This time, that’s from 6.25 to 3.125 per block. This makes new Bitcoins harder to come by, which, if history means anything, could push their price up, up, up.

A gold Bitcoin coin is sliced in half on a red background.

In the past, these halving events have been like a launchpad for Bitcoin’s price, rocketing up over 500% as it did in 2020, or – brace yourself – 8,691% in 2012. If things play out like they have before, it’s not out of the question to see Bitcoin reach up to a staggering $450,000 in the next year, according to some analysts.

This year’s halving event is particularly special as it occurs alongside the first Bitcoin ETFs in the U.S. which is attracting more people to Bitcoin than ever before. This surge of interest has pumped up the price even before the halving happens. We saw it in action last week when Bitcoin boomed to over $71K after nesting at $65K just one week before that.

So what does all this mean for the future of Bitcoin?

Well, if we stick to the script of previous halvings and factor in the boost from new investment avenues like the ETFs, we could be looking at a very bullish run. It’s an exciting time for Bitcoin enthusiasts and investors, with lots of positive momentum and potential for significant gains, so stay tuned!


April 11, 2024.

Bitcoin climbed back up to $72,212 to start the week, with its price staying largely steadfast since, with a little detour on Tuesday because of the higher-than-expected U.S. CPI announcement.

The original rally on Monday was thanks to a cocktail of anticipation and strategic market plays, all centered around the much-anticipated Bitcoin halving event slated for April 20th, which historically sends Bitcoin’s price on a sharp upward trajectory.

Amidst the excitement, traders are swarming Bitcoin, betting big on its ascent as the crowd warms up to Bitcoin ETFs. Exchange-traded funds (ETFs), by the way, are funds that track the price of Bitcoin, letting people invest without actually owning any coins. These ETFs have been loading up on Bitcoin in the past week, adding over $330 million worth.

Despite the slight setback, experts’ predictions are still holding strong, with some eyeing an $80,000 milestone for Bitcoin in the near future.

And it’s not just talk; there’s real momentum here. The market’s leaning heavily on the buy side with $2.1 billion in buy orders before Monday’s jump, which far exceeds the orders to sell, pointing to a significant leap.

With Bitcoin’s price rally, the excitement isn’t just contained to Bitcoin; it’s sparking interest across the whole crypto market. There’s a palpable sense of optimism, with some predicting the total market cap could soar. As we watch Bitcoin’s price, it’s clear we’re witnessing a pivotal moment that could redefine the essence of digital currency.


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