🐌 Bitcoin Lags Behind Ethereum Despite Good News

View in browser April 8, 2022 Welcome to Friday's edition of Cryptonews Crunch, featuring the latest stories of the cryptoverse. While bitcoin is down today compared to ethereum and other coins but April is a historically good month for the asset. Read on! Markets - Change 24hr Source: CoinMarketCap.com BTC Lags Behind ETH Despite Strike, Robinhood & Legal Tender News The bitcoin (BTC) price lagged behind ethereum (ETH) and other major altcoins today, despite a series of bullish news announcements coming from the Bitcoin 2022 conference in Miami, USA. Among the most notable announcements was one by Jack Mallers, CEO of the bitcoin payments provider Strike, who said on Thursday that his firm made deals that will allow BTC to be used as payment at online merchants using Shopify platform and a large number of physical retailers across America. At the same time, ETH stood at USD 3,290, up 2% for the past 24 hours and staying unchanged for the past 7 days, while other major altcoins such as BNB and solana (SOL) were up by 0.8% and 3.5%, respectively, for the past 24 hours. Read more... April is Historically 'Very Strong Month' for BTC; AVAX & LUNA Show Potential According to Kraken's latest monthly market report, April is "historically a very strong month" for bitcoin. Since 2011, the bitcoin price has risen by a median of 27% and an average of 46% during the month of April. Aside from bitcoin, the top ecosystems to keep an eye on for the month is Avalanche, the report said, citing a gradual increase in the daily transaction count and a move by users to several subnets on Avalanche. Further, Terra was also brought up as an ecosystem that should be paid attention to in April, with steady increases seen in both the daily active addresses and the daily transaction numbers on the network.  Read more... 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In this conversation, we discuss: - Gino's baseball stories - Building the E11EVEN brand - Turning Spearmint Rhino into a world-class gentlemen's club - Losing everything in the 2008 financial collapse - Going crypto - Drake Stories - Bored Apes becoming a fashion statement - E11EVEN purchasing a BAYC - 11crypto.io Tune In! Daily Briefs The UK Financial Conduct Authority (FCA) launched a three-year strategy to "improve outcomes for consumers and in markets" throughout the country. Only five crypto firms — CEX.IO, Copper Technologies, GlobalBlock, Revolut, and Moneybrain — remain on the UK Financial Conduct Authority's (FCA) temporary registration (TRR) list. The National Payments Corporation of India (NPCI) announced that they were not aware of any crypto purchases using their Unified Payments Interface (UPI), a payments system designed to facilitate interbank transactions through mobile phones. The Monetary Authority of Singapore (MAS) explained that its guidelines do not allow marketing and advertising of digital payment token (DPT) services to retail consumers in Singapore, but ads to accredited and institutional investors are allowed with certain conditions. European Union member states agreed to ban the provision of high-value cryptoasset services to Russia as part of a package of sanctions imposed in response to the Ukraine war. The US Federal Deposit Insurance Corporation (FDIC) asked banks to report on their crypto-related activities, citing potential safety and soundness risks as well as financial stability concerns. US Acting Comptroller of the Currency Michael J. Hsu said that he believes "establishing an intentional architecture for stablecoins can help protect people and the dollar and reflect our values." A New York State Supreme Court judge ruled in favor of crypto data center and power generation company Greenidge, stating that the project would not harm the environment. Hong Kong police have arrested a suspected triad member days after a crypto trader was conned out of HKD 800,000 (USD 102,070) in a bogus Tether (USDT) transaction that took place last weekend. Kraken CEO Jesse Powell retweeted that the exchange will close its global headquarters on 548 Market Street, in the center of San Francisco, USA. Digital identity verification tech company Netki and crypto exchange software AlphaPoint announced their partnership to implement macroscale cryptoasset onboarding projects. Nonprofit organization Luna Foundation Guard, which is behind the Terra (LUNA) blockchain project, announced a USD 100m treasury swap with the Avalanche Foundation. This makes AVAX the first major cryptoasset beyond BTC to be added to their reserve. Alex Kriete, Greg Girasole, and Frank Cavallo, all former executives of banking giant Citi, have formed a new investment management firm dedicated to crypto named Motus Capital. ADDX exchange has launched an institutional service called ADDX Advantage for wealth managers, corporate treasuries, and family offices. Community Gaming raised USD 16m in an oversubscribed Series A funding round led by SoftBank Group via its SB Opportunity Fund. Crypto lending network Celsius (CEL) announced it now holds over BTC 150,000 and has paid rewards of nearly BTC 6,100 to its community. Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, plans to give away most of his USD 20bn fortune, per the Financial Post. READ MORE Read All Cryptonews Promotion Ledger Backup Pack! Buy Ledger Nano X and get an extra Ledger Nano S with a 50% discount. Claim Deal New To The Crunch? Click To Subscribe! 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