Last week, crypto investment funds dusted off their cobwebs and stumbled upon a stunning $1.1 billion in fresh capital. According to the latest weekly data from CoinShares, it appears that the big boys-BlackRock, Fidelity, and Bitwise-were responsible for much of this newfound wealth, likely while enjoying a fine cup of coffee.
Now, let’s talk numbers. Their entire treasure chest-which also includes a little bitcoin, some cash, and whatever ‘moonshots’ are (don’t ask, it sounds risky)-is now worth a jaw-dropping $11.8 billion. Yes, billion with a B! Who knew playing digital Monopoly could be this lucrative?
Foundry Digital, the heavyweight champion of Bitcoin mining pools, has decided to dip its toes into the Zcash (ZEC) waters. They’ve launched a mining pool that now controls a whopping 30% of the network’s hashrate, according to their fancy new block explorer. You’d think they were giving away free lattes with those numbers!
This has given birth to one of the most volatile, almost comically tragic, oil theaters in living memory.
On April 12, Strategy disclosed it had purchased 13,927 Bitcoin for an average price of $71,902, totaling $1 billion. This purchase happened on a day when Bitcoin’s price dropped by over $3,000 and fell below a key technical level. Currently, the value of those Bitcoins is down about $1,044 per coin.
Despite the price temporarily pausing near a resistance level, large investors (whales) continue to be active and maintain their positions, hinting that buying pressure might still be building. With positive momentum continuing and increasing support below a crucial price point, the big question now is whether Toncoin can break through $1.50 and continue its upward trend.
The transfer is part of the ongoing $12.7 billion repayment plan, and with $5.1 billion still owed. So basically, the debt is doing cardio while the assets are playing hide-and-seek.
On this fateful afternoon of April 13, during a press conference in Seoul that was nothing short of a theatrical performance, Allaire found himself amidst a gathering of journalists, including the ever-curious Oihyun Kim, Editor-In-Chief of BeInCrypto East Asia. Our hero had traversed oceans to meet with exchanges, banks, and the enigmatic regulators of South Korea-ah, the joys of global finance!
Key Takeaways:
Cryptocurrencies are expected to be the most affected. We’re already seeing some initial declines, as both Bitcoin and Ethereum have dropped roughly 1.5% in value today.
