Hello Snapshotters,
This month, whales in the 1,000-10,000 BTC wallet category bought the dip, which could unlock new price discovery for Bitcoin. And while the halving seems to have given the market a price lift, the next leg of the bull market might be triggered by real-world assets (RWAs), according to Nasdaq. More details below.
Additionally, we have an exciting update.
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Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
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News Snaps
🐋 Whales Bought the Dip
According to research firm Santiment, whales holding 1,000-10,000 BTC accumulated more Bitcoin through April when BTC dropped below its new all-time high (ATH). Analysts suggest this could overcome key resistance and unlock new Bitcoin price discovery.
🏦 Boston Consulting: RWAs Multi-Trillion Dollar Opportunity
The next leg of the crypto bull market won’t be triggered by the Bitcoin halving or approval of an Ethereum ETF; it will be led by real-world assets (RWAs), according to a recent Nasdaq article. The Boston Consulting Group estimates that asset tokenization could reach $16 trillion by 2030 as BlackRock and central banks explore RWAs.
🤝 AI Super Token Merger
SingularityNet, Fetch.ai, and Ocean protocols have approved a merger into the Artificial Superintelligence Alliance (ASI) token. Fetch.ai (FET) token will become the ASI token, while SingularityNet (AGIX) and Ocean (OCEAN) tokens will be converted into ASI, which will be valued at an approximate $7.5 billion market cap.
🌏 World Chain Is Coming
Worldcoin, co-founded by OpenAI CEO Sam Altman, is launching an Ethereum Layer-2 blockchain called World Chain. It aims to solve issues of network congestion and automated transactions causing high gas fees by prioritizing human transactions and providing verified users with a free gas allowance and faster confirmation times.
🏦 TradFi Blue Chips Join Tokenizing Project
Barclays, Citi, Mastercard, and Visa are joining a UK pilot called Regulated Liability Network. Led by UK Finance, the project aims to create a commercial banking system for tokenized deposits and securities to facilitate cross-border transactions and reduce errors and fraud.
What’s Ahead
↘️ Lower BTC ETF Fees
Grayscale’s planned ETF, Bitcoin Mini Trust (BTC), will have a fee of 0.15%. Grayscale will contribute 10% of the assets in the existing Grayscale Bitcoin Trust (GBTC) to the Bitcoin Mini Trust. GBTC currently has a 1.5% management fee, the highest among other ETFs.
Number of the Week
Chart of the Week
Bitcoin reached another milestone on April 20 when the fourth halving took place, which cut block rewards for miners in half. The Bitcoin network saw fees surge up to $128 before falling sharply a day after. This surge in fees has been a boon for Bitcoin miners who, despite the halving, saw their earnings spike.
The surge in revenue is attributed to the heightened minting activity of the newly launched Runes protocol, which coincided with the halving.
Research & Insights
Monthly Feature Article | Crypto.com Visa Card Consumer Spending Insights
A full breakdown of what our community likes to spend their crypto on.
Read the full report here.
Crypto Trivia
What is the Bitcoin block reward since the April 20 halving?
A) 6.25
B) 3.125
C) 12.5
Find the answer at the end of the newsletter.
Product Picks
Automatically Stake Your Tokens With the DCA Bot
Auto-Stake, a new feature to the DCA Bot, is now available for eligible users in the Crypto.com Exchange! With Auto-Stake enabled, your tokens will be automatically staked on-chain each time your DCA Bot makes a purchase. You start earning rewards immediately without additional steps. Try it now.
Steadily Build Your Portfolio Across 190-Plus Tokens With Recurring Buy
ZBCN has been added to the Recurring Buy feature in the Crypto.com App. Users can now apply the Dollar Cost Averaging (DCA) strategy for over 140 tokens with Recurring Buy. Find out more here.
Crypto.com App New Token Listings
KARRAT (KARRAT)
KARRAT is a decentralized infrastructure layer designed to support gaming and AI. It facilitates the integration of digital collectibles and their metadata into gaming engines.
Safe (SAFE)
Safe is an account abstraction leader on Ethereum with secure smart wallet infrastructure to provide a secure place for users to store cryptocurrency. SAFE serves as the governance token of SafeDAO.
Maneki (MANEKI)
Maneki is a cat meme coin based on the Solana blockchain. The token draws inspiration from the Japanese beckoning cat, symbolizing good fortune, prosperity, and success.
crow with knife (CAW)
crow with knife is a meme coin on the Cronos blockchain, which was launched by CRO CROW, an NFT collection on Cronos. The meme coin features a crow holding a knife in its beak.
Crypto Level Up
What Is Leverage Trading in Crypto?
When you trade an asset with leverage, you’re using borrowed capital to open a larger position than your current account balance. Here’s how:
Demonstrating Leverage Trading With BTC
Initial Capital: $1,000
Leverage: 10x (Controlling a $10,000 position)
BTC Price: $65,000
If You Profit (Gains Amplified)
BTC rises 1% to $65,650. Your profit is $100 (1% x $10,000). For an initial capital of $1,000, this is a 10% gain.
If You Lose (Losses Amplified)
BTC loses 1%, dropping to $64,350. Your loss is $100 (1% x $10,000). For an initial capital of $1,000, this is a 10% loss.
Discover the ins and outs of leverage trading in crypto.
CryptoIRL
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Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Phishing Ad on Google
An advertisement on Google was impersonating cryptocurrency trading platform Whales Market, and netizens who clicked the link were directed to a phishing website that contained malware able to drain wallets if connected.
Here’s How to Shield Yourself From Phishing Sites
1. Scrutinize any domain requesting to connect to your wallet. If unsure, refuse and exit the website.
2. Watch for warnings from your browser. For example, if it indicates that a website isn’t secure due to disabled HTTPS protocol, your assets are at risk.
3. If you’re unsure of a link in a Google search result, open a new tab and type in the address you wish to visit. Scammers use fraudulent links that mimic genuine ones.
Crypto Trivia Answer
B) 3.125
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.
