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BLOCKCHAIN TIMELINE
Jack Dorsey's Block reported Q1 earnings beat on Thursday with revenue of $5.97 billion and gross profits at $2.09 billion up 22% YoY.
The owner of Square and Cash App, also announced a Bitcoin purchase program. 10% of the company's gross profit from Bitcoin related products will be invested into Bitcoin monthly purchases.
The firm also disclosed that its original Bitcoin investment of $220 million has grown by approximately 160% to $573 million.
Block will be investing 10% of its gross profit into Bitcoin monthly purchases
8 Hours ago
Blockchain Timeline
The US added 175,000 jobs in April showing signs of cooling and boosting expectations for rate cuts this year. Economists were expecting 241,000 jobs according to a Bloomberg poll.
US unemployment rate rose slightly to 3.9% compared to estimates of 3.8%. The data released today also included a downward revision for February and March jobs numbers reiterating the slowdown.
Futures traders reacted by pricing in two interest rate cuts by the FED this year with the first cut forecasted in September.
US labour market added the smallest amount of jobs in six months
13 Hours ago
Blockchain Timeline
Liquid staking project Jito is the largest protocol on Solana with $1.4 billion in TVL accounting for 38% of the whole ecosystem's total value locked.
Jito is also in the top 5 of the liquid staking market accounting for 3% of TVL across all blockchains.
CoinDesk reports that Jito is also looking to develop a restaking protocol on Solana enabling it to compete against projects like EigenLayer.
The largest protocol on Solana is joining the restaking market
17 Hours ago
Blockchain Timeline
Over 200 industry leaders gathered at BlackRock's first Digital Assets Summit, held at the firm's headquarters in partnership with Coinbase.
The summit included talks on the future of Bitcoin and the digital assets market as well as investment advice on what are the risk involved and how to navigate the market's volatility.
BlackRock held a Digital Assets Summit at their headquarters to promote its Bitcoin ETF
17 Hours ago
Blockchain Timeline
Apple shares rose on Tuesday after the company reported a smaller than expected revenue drop for Q1. Revenue was $90.75 billion compared to $90.30 expected. Sales of the iPhone were down 10% YoY coming at $46 billion while sales in China fell 8.42%.
Coinbase reported revenue of $1.64 billion for Q1 compared to $1.34 expected by analysts. Earnings per share were at $4.40 compared to a loss of $0.34 a year ago. The firm also reported over 100% increase in consumer transaction revenue and 3x increase in total transaction revenue.
The Coinbase stock rose 8.90% during trading hours but is down 3.30% following the earnings report.
Apple and Coinbase beat earnings expectations for first quarter
17 Hours ago
Blockchain Timeline
Glassnode published a detailed analysis suggesting the Bitcoin bull cycle is still in effect although euphoria has cooled down substantially following the recent correction.
April saw consistent selling pressure from all wallet sizes, which is an indication of a local bottom. The last time all groups of holders were selling was in September 2023 where Bitcoin price bottomed around $25,300.
Bitcoin local bottom
Realised loss of short term holders (1-4 weeks) was the highest since the Bitcoin bear market bottom on November 22. Glassnode reports that panic selling for recent buyers tends to peak near local market lows.
Glassnode analysis suggests local bottom is forming on Bitcoin price
1 Day ago
Blockchain Timeline
In his remarks, FED Chair Jerome Powell stated that there're two paths to further rate cuts this year. The first would be for inflation data to show a decline towards the goal of 2%. CPI number was 3.4% YoY in March while the FED's preferred inflation metric, PCE was 2.7% compared to 2.5% in February.
The second path to lower interest rates would be an unexpected weakening in the labor market. US unemployment rate was 3.8% in March compared to 3.8% the previous month.
Chair Powell says only two ways FED would consider cutting rates this year
1 Day ago
Blockchain Timeline
The disappointing inflation readings are likely to mean US borrowing rates remain higher for longer. FED announced today that interest rates stay at 5.5% and unveiled plans to slow the pace of its quantitative tightening program.
FED signals interest rates remaining higher for longer
The Federal Open Market Committee indicated that inflation data are concerning enough to consider raising rates either. Financial markets are now expecting 1.18 rate cuts for this year.
FED signals interest rates remaining higher for longer
2 Days ago
Blockchain Timeline
Position liquidations in centralised exchanges rose sharply the last 24hrs as Bitcoin price dropped 6.72% to reach as low as $56,522.
Exchanges see $362 million in liquidations the last 24hrs as Bitcoin drops below 60k
More than 80% of those liquidations were long positions, with Bitcoin accounting for $119 million and Ethereum $66.56 million. This round of liquidations was the largest since April 13 when Bitcoin experienced a 10% drop on fears of escalation in the Middle East.
Exchanges see $362 million in liquidations the last 24hrs as Bitcoin drops below 60k
2 Days ago
Blockchain Timeline
Former employees of Block are working with US prosecutors building a case against the company that owns Square and Cash App.
According to NBC Block's apps has processed crypto transactions linked to sanctioned countries and terrorist organisations.
Whistleblowers presented NBC news with more than 100 pages of documents including records of exchanges between Block and sanctioned countries such as Russia and Iran from as recently as last year.
Jack Dorsey's Block allegedly processed crypto transactions linked to terrorist organisations
2 Days ago
Blockchain Timeline
According to CFGI.io, the Bitcoin Fear and Greed index is currently sitting at 19% (Extreme Fear) the lowest number since January 25 when Bitcoin's price was trading below $40k.
Bitcoin fear and greed index
The index for Ethereum and Solana is also at a low 20% (Fear). Coinmarketcap's similar index for the whole market is now at 51 (Neutral) which also the lowest point in 3 months.
Bitcoin fear and greed index falls to lowest since January
2 Days ago
Blockchain Timeline
Bitcoin extended its decline falling to $56,550 briefly before climbing back above 57K the last hour.
US stocks closed their worst monthly performance in seven months after data showed a slow in growth and sticky inflation. The Nasdaq declined 2% on Tuesday and closed the month 4.2% lower.
Early futures trading for US stocks show additional declines as markets are preparing for the FED interest rate announcement and speech later during the day.
Index
Change
Bitcoin
-5.48%
S&P 500 futures
-0.43%
Nasdaq futures
-0.77%
S&P 500 ends worst month since September while Bitcoin drops briefly below 57k
2 Days ago
Blockchain Timeline
The US government sought a sentence of three years for Binance founder Changpeng "CZ" Zhao for violating US banking laws to which he pleaded guilty in November 2023.
Judge Richard Jones of the U.S District Court for the Western District of Washington said he did not agree with a sentencing of three years and said Zhao was never informed of illegal activity, according to the courtroom reporting from CoinDesk.
CZ was ordered to spend 4 months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.
Binance former CEO Changpeng Zhao is sentenced to 4 months in prison
3 Days ago
Blockchain Timeline
Bitcoin is currently trading below its monthly support level of $61,160 as selling pressure is building up from traders. The drop started during European trading hours when Hong Kong's newly formed ETF numbers were revealed at just $11 million compared to $100 million expected.
The decline extended on US market open after a consumer confidence index produced its weakest reading in almost two years, while employment cost index data showed a 1.2% QoQ rise, up from 0.9% at the end of last year.
The S&P 500 was off 0.92% and the tech heavy Nasdaq Composite down 1,14% by mid-afternoon. Both are down 3.4% this month.
Bitcoin falls below 61k monthly support ahead of FED speech
3 Days ago
Blockchain Timeline
Michael Saylor's firm announced on Monday its Bitcoin holdings revealing an additional purchase of 122 BTC in April. This brings their total holdings to 214,400 bitcoins valued at approximately $7.50 billion.
According to the quarterly report Microstrategy's average price is $35,180 per bitcoin. The Block reports that the firm likely purchased 32 BTC after March 19 when the last number was disclosed.
Entity
Holdings
GBTC
297,120
BlackRock IBIT
274,460
Microstrategy
214,400
Microstrategy purchased $7.8 million worth of BTC in April
3 Days ago
Blockchain Timeline
BlackRock's BUIDL fund, has captured almost 30% of the $1.3 billion tokenised Treasury market in just six weeks.
The fund is backed by US Treasury bills, repo agreements and cash on the Ethereum network. After seeing $70 million inflows last week, BlackRock's fund became the largest with $375 million in AUM.
Blackrock tokenised fund comparison
The increase was largely thanks to Ondo Finance who brought $50 million of inflows to BlackRock's token by leveraging it as reserve asset.
BlackRock's tokenised fund BUIDL becomes No1 overthrowing Franklin Templeton
3 Days ago
Blockchain Timeline
The Bitcoin and Ethereum ETFs started trading in Hong Kong, as the city pushes ahead with plans to become a virtual assets trading hub despite strict controls in mainland China.
The three asset managers — Bosera, Harvest Global Investment and ChinaAMC — each launched two Bitcoin ETFs and two Eth ETFs, making a total of six funds.
The Bitcoin ETFs each gained about 3% on their debut, while the Ethereum ETFs gained between 0.4% and 1% in early trading.
Hong Kong’s crypto ETF begin trading
3 Days ago
Blockchain Timeline
CKpool developer Con Kolivas reported on X.com that a solo miner managed to solve Bitcoin's 841,286th block and got 3.433 BTC in rewards (approximately $218,544).
A Bitcoin block is solved every 10 minutes and this event has only occurred 282 times in the network's 10 year history. Your chance of solving a block as a solo miner is roughly 0.02%.
Solo Bitcoin miner manages to solve block and gets $218k worth in rewards
3 Days ago
Blockchain Timeline
The restaking protocol announced the launch of its native token EIGEN on May 10th. The token will be released through the independent non-profit Eigen Foundation and have a total supply of 1.67 billion.
The protocol plans to allocate 15% of the token supply to those who staked using the platform. These tokens will be released gradually through multiple seasons. The first season will hand out 5% of total supply.
A whitepaper was also released today describing the structure of the EIGEN token and how it will fit within the EigenLayer ecosystem.
Allocation
Group
45%
Community
29.5%
Investors
25.5%
Early Contributors
EigenLayer set to release native token in 10 days
4 Days ago
Blockchain Timeline
Pyth network's upcoming token unlock on May 20 is the first of 4 scheduled unlocks ending in 2027. The network is set to release 15% of total supply or 2.13 billion tokens.
pyth network token unlock schedule
600 million tokens will be allocated to community rewards through staking and the various DeFi platforms that the network supports. The Pyth token launched on November 20, 2023 and is since up 99% in price.
Pyth network first token unlock coming up in 3 weeks
4 Days ago
Blockchain Timeline
Tuesday: EU reports GDP growth numbers and inflation rate for April. US Consumers Board reports Consumer Confidence measurements. Paypal, McDonalds and Coca Cola report earnings before market open. Amazon, AMD, Starbucks and Pinterest report earnings after the close.
Wednesday: US Federal Reserve announces interest rate policy decision followed by Chair Jerome Powell's press conference. FED rates expected to remain unchanged at 5.5%. ISM reports data on manufacturing PMI index expected at 50.1.
Thursday: US reports initial jobless claims expected at 212k compared to previous 207k. Apple and Coinbase report earnings after market close.
Friday: US reports Non Farm payrolls expected at 243k and unemployment rate expected to remain unchanged at 3.8%. ISM reports services PMI index expected at 52.
Markets brief, the week ahead
4 Days ago
Blockchain Timeline
Consumer prices in Spain rose 3.4% YoY in April compared to 3.3% a month earlier. The Spanish statistics agency reported rising gas and food prices and lower prices on leisure and culture costs.
Core inflation (excluding energy & food) index actually slowed from 3.3% to 2.9% in April. The European Central bank is expected to cut rates in June but the latest data from Spain is testing investors' confidence on the matter.
Eurozone inflation numbers are coming out on Tuesday expected at 2.4%. Any overshoot could cause markets to doubt ECB's resolve on cutting rates.
Inflation rises in Spain as food and energy prices tick up
4 Days ago
Blockchain Timeline
Bitcoin ETF weekly flows closed at negative $328 million last week marking the 3rd worst performance since approval. Fund flows started the week positively at $93 million inflows but the last 3 trading sessions saw record outflows of $420 million.
Bitcoin ETFs just had their worst week since approval in January
Total weekly volume was the lowest since February indicating low levels of interest from investors post halving. GBTC continued seeing only outflows on its ETF which currently holds 298,000 bitcoins while BlackRock's IBIT is catching up fast with 274,000 bitcoins.
Bitcoin ETFs back to negative weekly flows after halving
4 Days ago
Blockchain Timeline
Solana's largest DeFi protocol Kamino Finance has announced the launch of its native token, KMNO, on April 30th..
The token has a total supply 10 billion with the initial circulating supply set at 1 billion. 7.5% of the initial supply (750 million) will be contributed to the platform's users.
Solana DeFi protocol Kamino sets Airdrop for April 30th
According to the announced tokenomics, 10% of the supply is allocated to growing liquidity for the KMNO token across other platforms. Finally, an allocation of 55% is reserved for core cotributors, stakeholders and advisors which will stay locked for 12 months and then released linearly over a 24 month period.
Solana DeFi protocol Kamino sets Airdrop for April 30th
6 Days ago
Blockchain Timeline
Bitcoin's closed the week following the halving event basically flat. Data on the health of the US economy came out mixed and resulted in one big sideways movement for Bitcoin.
Meanwhile, Solana-based memecoin Bonk closed the week up 58%. The increase came after the approval from the Bonk DAO to burn 278 billion tokens.
Ethereum-based memecoin Pepe posted gains of 36% for the week, following the Coinbase announcement to list Pepe perpetual contracts. The move was seen a first step towards Coinbase making spot Pepe available for trading.
Bitcoin ends week flat as memecoins make a comeback
6 Days ago
Blockchain Timeline
Yuga Labs co-founder Greg Solano announced that the firm is restructuring which required cutting some team members.
Solano mentioned that Yuga Labs will focus on building smaller more agile and crypto native team. The memo also mentioned that development efforts on 3D Otherside game are becoming a main focus.
New announcements will follow regarding the company's future plans.
NFT giant Yuga Labs cutting staff in company restructuring
7 Days ago
Blockchain Timeline
The US Personal Consumption Expenditure Index showed an increase of 2.7% YoY compared to 2.6% expected.
Core PEC index which is the FED's preferred inflation metric, printed at 2.8% YoY compared to 2.7% expected.
Personal spending surprised to the upside coming in at 0.8% MoM compared to 0.6% expected. US stock indexes reacted positively to the numbers with the S&P 500 futures currently gaining 0.85%.
US PCE price index came at 2.7% in March meeting economist’s expectations
7 Days ago
Blockchain Timeline
S&P 500 futures are rising 0.80% while Nasdaq futures are up 1.10% following Thursday's strong earnings reports.
Google beat analysts expectations for Q1 on strong performance from Search, YouTube and Cloud. The company reported $80.54 billion in revenue vs $78.59 expected and $1.89 earnings per share vs $1.51 expected.
Intel beat analysts expectations on earnings per share reporting $0.18 vs $0.14 expected. Revenue number came in line with expectations at $12.72 billion.
Microsoft beat analysts expectations reporting 23% year on year growth in Microsoft Cloud. Earning per share came at $2.94 vs $2.82 expected and revenue at $61.86 billion vs $60.80 expected by Wall Street.
Snap Q1 results surprised analysts by reporting 21% increase in revenue and positive earnings per share. Revenue came at $1.19 billion and earnings per share at $0.03 vs -$0.05 expected. The company's stock was up 23% after hours.
US indexes rebound on strong Tech earnings
7 Days ago
Blockchain Timeline
Consensys, the firm behind the most popular Ethereum Wallet, MetaMask, filled a lawsuit against the SEC in Texas federal court. The company aims to prove indefinitely that ETH is not a security.
The SEC is claiming that MetaMask is operating as an unlicensed broker dealer and objects to MetaMask offering users a means to stake Ethereum on their behalf.
The Consensys lawsuit was filed in Texas, which has shown greater skepticism of agency actions than other courts. The SEC can now choose to file a lawsuit on its own or resolve the issue with Consensys in the Texas court.
The company behind MetaMask Wallet is suing the SEC to prove ETH is not a security
8 Days ago
Blockchain Timeline
John Collison co-founder of Stripe unveiled on the company's conference that the platform will begin accepting crypto payments again. Stripe ended crypto support in 2018 claiming low interest for Bitcoin payments by their customer base.
The new feature is coming this summer and will initially support payments in USDC on Solana, Ethereum and Polygon networks. Collison demoed the feature live using Phantom Wallet.
Stripe processed over $1 billion worth of transaction in 2023 increasing its volume more than 25% since 2022. The company is by far the most valuable fintech unicorn worldwide, with a valuation of $50 billion. Revolut is ranked second, valued at $33 billion followed by Chime, Ripple, and Devoted Health.
Stripe to make crypto payments available again starting with USDC on Solana and Ethereum
8 Days ago
Blockchain Timeline
The US economy grew by 1.6% in the first quarter of 2024 compared to 2.5% expected by analysts. The latest GDP number comes after the revised 3.4% print of Q4 2023.
US stock indexes extended their declines and government bonds came under pressure after data was released. Bitcoin is down 1.30% in the last hour, Ethereum is also declining by 1.70% and Solana is currently seeing a drop of 4.70%.
Quarter
GDP Growth
Q3 2023
4.9%
Q4 2023
3.4%
Q1 2024
1.6%
US GDP growth slows down significantly causing market-wide selloff
8 Days ago
Blockchain Timeline
Tesla reported on Tuesday Q1 revenue of $21.3bn compared to $23.3bn last year, missing analyst's expectations for $22.3bn. That marks Tesla’s first year-on-year quarterly drop since the start of 2020.
Adjusted earnings per share almost halved from a year ago to 45 cents, versus estimates for 52 cents. Gross margins declined for the sixth consecutive quarter to 17.4%, down from a peak of 29.1% in Q1 of 2022.
Despite the miss in earning, Tesla
BLOCKCHAIN TIMELINE
Jack Dorsey's Block reported Q1 earnings beat on Thursday with revenue of $5.97 billion and gross profits at $2.09 billion up 22% YoY.
The owner of Square and Cash App, also announced a Bitcoin purchase program. 10% of the company's gross profit from Bitcoin related products will be invested into Bitcoin monthly purchases.
The firm also disclosed that its original Bitcoin investment of $220 million has grown by approximately 160% to $573 million.
Block will be investing 10% of its gross profit into Bitcoin monthly purchases
8 Hours ago
Blockchain Timeline
The US added 175,000 jobs in April showing signs of cooling and boosting expectations for rate cuts this year. Economists were expecting 241,000 jobs according to a Bloomberg poll.
US unemployment rate rose slightly to 3.9% compared to estimates of 3.8%. The data released today also included a downward revision for February and March jobs numbers reiterating the slowdown.
Futures traders reacted by pricing in two interest rate cuts by the FED this year with the first cut forecasted in September.
US labour market added the smallest amount of jobs in six months
13 Hours ago
Blockchain Timeline
Liquid staking project Jito is the largest protocol on Solana with $1.4 billion in TVL accounting for 38% of the whole ecosystem's total value locked.
Jito is also in the top 5 of the liquid staking market accounting for 3% of TVL across all blockchains.
CoinDesk reports that Jito is also looking to develop a restaking protocol on Solana enabling it to compete against projects like EigenLayer.
The largest protocol on Solana is joining the restaking market
17 Hours ago
Blockchain Timeline
Over 200 industry leaders gathered at BlackRock's first Digital Assets Summit, held at the firm's headquarters in partnership with Coinbase.
The summit included talks on the future of Bitcoin and the digital assets market as well as investment advice on what are the risk involved and how to navigate the market's volatility.
BlackRock held a Digital Assets Summit at their headquarters to promote its Bitcoin ETF
17 Hours ago
Blockchain Timeline
Apple shares rose on Tuesday after the company reported a smaller than expected revenue drop for Q1. Revenue was $90.75 billion compared to $90.30 expected. Sales of the iPhone were down 10% YoY coming at $46 billion while sales in China fell 8.42%.
Coinbase reported revenue of $1.64 billion for Q1 compared to $1.34 expected by analysts. Earnings per share were at $4.40 compared to a loss of $0.34 a year ago. The firm also reported over 100% increase in consumer transaction revenue and 3x increase in total transaction revenue.
The Coinbase stock rose 8.90% during trading hours but is down 3.30% following the earnings report.
Apple and Coinbase beat earnings expectations for first quarter
17 Hours ago
Blockchain Timeline
Glassnode published a detailed analysis suggesting the Bitcoin bull cycle is still in effect although euphoria has cooled down substantially following the recent correction.
April saw consistent selling pressure from all wallet sizes, which is an indication of a local bottom. The last time all groups of holders were selling was in September 2023 where Bitcoin price bottomed around $25,300.
Bitcoin local bottom
Realised loss of short term holders (1-4 weeks) was the highest since the Bitcoin bear market bottom on November 22. Glassnode reports that panic selling for recent buyers tends to peak near local market lows.
Glassnode analysis suggests local bottom is forming on Bitcoin price
1 Day ago
Blockchain Timeline
In his remarks, FED Chair Jerome Powell stated that there're two paths to further rate cuts this year. The first would be for inflation data to show a decline towards the goal of 2%. CPI number was 3.4% YoY in March while the FED's preferred inflation metric, PCE was 2.7% compared to 2.5% in February.
The second path to lower interest rates would be an unexpected weakening in the labor market. US unemployment rate was 3.8% in March compared to 3.8% the previous month.
Chair Powell says only two ways FED would consider cutting rates this year
1 Day ago
Blockchain Timeline
The disappointing inflation readings are likely to mean US borrowing rates remain higher for longer. FED announced today that interest rates stay at 5.5% and unveiled plans to slow the pace of its quantitative tightening program.
FED signals interest rates remaining higher for longer
The Federal Open Market Committee indicated that inflation data are concerning enough to consider raising rates either. Financial markets are now expecting 1.18 rate cuts for this year.
FED signals interest rates remaining higher for longer
2 Days ago
Blockchain Timeline
Position liquidations in centralised exchanges rose sharply the last 24hrs as Bitcoin price dropped 6.72% to reach as low as $56,522.
Exchanges see $362 million in liquidations the last 24hrs as Bitcoin drops below 60k
More than 80% of those liquidations were long positions, with Bitcoin accounting for $119 million and Ethereum $66.56 million. This round of liquidations was the largest since April 13 when Bitcoin experienced a 10% drop on fears of escalation in the Middle East.
Exchanges see $362 million in liquidations the last 24hrs as Bitcoin drops below 60k
2 Days ago
Blockchain Timeline
Former employees of Block are working with US prosecutors building a case against the company that owns Square and Cash App.
According to NBC Block's apps has processed crypto transactions linked to sanctioned countries and terrorist organisations.
Whistleblowers presented NBC news with more than 100 pages of documents including records of exchanges between Block and sanctioned countries such as Russia and Iran from as recently as last year.
Jack Dorsey's Block allegedly processed crypto transactions linked to terrorist organisations
2 Days ago
Blockchain Timeline
According to CFGI.io, the Bitcoin Fear and Greed index is currently sitting at 19% (Extreme Fear) the lowest number since January 25 when Bitcoin's price was trading below $40k.
Bitcoin fear and greed index
The index for Ethereum and Solana is also at a low 20% (Fear). Coinmarketcap's similar index for the whole market is now at 51 (Neutral) which also the lowest point in 3 months.
Bitcoin fear and greed index falls to lowest since January
2 Days ago
Blockchain Timeline
Bitcoin extended its decline falling to $56,550 briefly before climbing back above 57K the last hour.
US stocks closed their worst monthly performance in seven months after data showed a slow in growth and sticky inflation. The Nasdaq declined 2% on Tuesday and closed the month 4.2% lower.
Early futures trading for US stocks show additional declines as markets are preparing for the FED interest rate announcement and speech later during the day.
Index
Change
Bitcoin
-5.48%
S&P 500 futures
-0.43%
Nasdaq futures
-0.77%
S&P 500 ends worst month since September while Bitcoin drops briefly below 57k
2 Days ago
Blockchain Timeline
The US government sought a sentence of three years for Binance founder Changpeng "CZ" Zhao for violating US banking laws to which he pleaded guilty in November 2023.
Judge Richard Jones of the U.S District Court for the Western District of Washington said he did not agree with a sentencing of three years and said Zhao was never informed of illegal activity, according to the courtroom reporting from CoinDesk.
CZ was ordered to spend 4 months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.
Binance former CEO Changpeng Zhao is sentenced to 4 months in prison
3 Days ago
Blockchain Timeline
Bitcoin is currently trading below its monthly support level of $61,160 as selling pressure is building up from traders. The drop started during European trading hours when Hong Kong's newly formed ETF numbers were revealed at just $11 million compared to $100 million expected.
The decline extended on US market open after a consumer confidence index produced its weakest reading in almost two years, while employment cost index data showed a 1.2% QoQ rise, up from 0.9% at the end of last year.
The S&P 500 was off 0.92% and the tech heavy Nasdaq Composite down 1,14% by mid-afternoon. Both are down 3.4% this month.
Bitcoin falls below 61k monthly support ahead of FED speech
3 Days ago
Blockchain Timeline
Michael Saylor's firm announced on Monday its Bitcoin holdings revealing an additional purchase of 122 BTC in April. This brings their total holdings to 214,400 bitcoins valued at approximately $7.50 billion.
According to the quarterly report Microstrategy's average price is $35,180 per bitcoin. The Block reports that the firm likely purchased 32 BTC after March 19 when the last number was disclosed.
Entity
Holdings
GBTC
297,120
BlackRock IBIT
274,460
Microstrategy
214,400
Microstrategy purchased $7.8 million worth of BTC in April
3 Days ago
Blockchain Timeline
BlackRock's BUIDL fund, has captured almost 30% of the $1.3 billion tokenised Treasury market in just six weeks.
The fund is backed by US Treasury bills, repo agreements and cash on the Ethereum network. After seeing $70 million inflows last week, BlackRock's fund became the largest with $375 million in AUM.
Blackrock tokenised fund comparison
The increase was largely thanks to Ondo Finance who brought $50 million of inflows to BlackRock's token by leveraging it as reserve asset.
BlackRock's tokenised fund BUIDL becomes No1 overthrowing Franklin Templeton
3 Days ago
Blockchain Timeline
The Bitcoin and Ethereum ETFs started trading in Hong Kong, as the city pushes ahead with plans to become a virtual assets trading hub despite strict controls in mainland China.
The three asset managers — Bosera, Harvest Global Investment and ChinaAMC — each launched two Bitcoin ETFs and two Eth ETFs, making a total of six funds.
The Bitcoin ETFs each gained about 3% on their debut, while the Ethereum ETFs gained between 0.4% and 1% in early trading.
Hong Kong’s crypto ETF begin trading
3 Days ago
Blockchain Timeline
CKpool developer Con Kolivas reported on X.com that a solo miner managed to solve Bitcoin's 841,286th block and got 3.433 BTC in rewards (approximately $218,544).
A Bitcoin block is solved every 10 minutes and this event has only occurred 282 times in the network's 10 year history. Your chance of solving a block as a solo miner is roughly 0.02%.
Solo Bitcoin miner manages to solve block and gets $218k worth in rewards
3 Days ago
Blockchain Timeline
The restaking protocol announced the launch of its native token EIGEN on May 10th. The token will be released through the independent non-profit Eigen Foundation and have a total supply of 1.67 billion.
The protocol plans to allocate 15% of the token supply to those who staked using the platform. These tokens will be released gradually through multiple seasons. The first season will hand out 5% of total supply.
A whitepaper was also released today describing the structure of the EIGEN token and how it will fit within the EigenLayer ecosystem.
Allocation
Group
45%
Community
29.5%
Investors
25.5%
Early Contributors
EigenLayer set to release native token in 10 days
4 Days ago
Blockchain Timeline
Pyth network's upcoming token unlock on May 20 is the first of 4 scheduled unlocks ending in 2027. The network is set to release 15% of total supply or 2.13 billion tokens.
pyth network token unlock schedule
600 million tokens will be allocated to community rewards through staking and the various DeFi platforms that the network supports. The Pyth token launched on November 20, 2023 and is since up 99% in price.
Pyth network first token unlock coming up in 3 weeks
4 Days ago
Blockchain Timeline
Tuesday: EU reports GDP growth numbers and inflation rate for April. US Consumers Board reports Consumer Confidence measurements. Paypal, McDonalds and Coca Cola report earnings before market open. Amazon, AMD, Starbucks and Pinterest report earnings after the close.
Wednesday: US Federal Reserve announces interest rate policy decision followed by Chair Jerome Powell's press conference. FED rates expected to remain unchanged at 5.5%. ISM reports data on manufacturing PMI index expected at 50.1.
Thursday: US reports initial jobless claims expected at 212k compared to previous 207k. Apple and Coinbase report earnings after market close.
Friday: US reports Non Farm payrolls expected at 243k and unemployment rate expected to remain unchanged at 3.8%. ISM reports services PMI index expected at 52.
Markets brief, the week ahead
4 Days ago
Blockchain Timeline
Consumer prices in Spain rose 3.4% YoY in April compared to 3.3% a month earlier. The Spanish statistics agency reported rising gas and food prices and lower prices on leisure and culture costs.
Core inflation (excluding energy & food) index actually slowed from 3.3% to 2.9% in April. The European Central bank is expected to cut rates in June but the latest data from Spain is testing investors' confidence on the matter.
Eurozone inflation numbers are coming out on Tuesday expected at 2.4%. Any overshoot could cause markets to doubt ECB's resolve on cutting rates.
Inflation rises in Spain as food and energy prices tick up
4 Days ago
Blockchain Timeline
Bitcoin ETF weekly flows closed at negative $328 million last week marking the 3rd worst performance since approval. Fund flows started the week positively at $93 million inflows but the last 3 trading sessions saw record outflows of $420 million.
Bitcoin ETFs just had their worst week since approval in January
Total weekly volume was the lowest since February indicating low levels of interest from investors post halving. GBTC continued seeing only outflows on its ETF which currently holds 298,000 bitcoins while BlackRock's IBIT is catching up fast with 274,000 bitcoins.
Bitcoin ETFs back to negative weekly flows after halving
4 Days ago
Blockchain Timeline
Solana's largest DeFi protocol Kamino Finance has announced the launch of its native token, KMNO, on April 30th..
The token has a total supply 10 billion with the initial circulating supply set at 1 billion. 7.5% of the initial supply (750 million) will be contributed to the platform's users.
Solana DeFi protocol Kamino sets Airdrop for April 30th
According to the announced tokenomics, 10% of the supply is allocated to growing liquidity for the KMNO token across other platforms. Finally, an allocation of 55% is reserved for core cotributors, stakeholders and advisors which will stay locked for 12 months and then released linearly over a 24 month period.
Solana DeFi protocol Kamino sets Airdrop for April 30th
6 Days ago
Blockchain Timeline
Bitcoin's closed the week following the halving event basically flat. Data on the health of the US economy came out mixed and resulted in one big sideways movement for Bitcoin.
Meanwhile, Solana-based memecoin Bonk closed the week up 58%. The increase came after the approval from the Bonk DAO to burn 278 billion tokens.
Ethereum-based memecoin Pepe posted gains of 36% for the week, following the Coinbase announcement to list Pepe perpetual contracts. The move was seen a first step towards Coinbase making spot Pepe available for trading.
Bitcoin ends week flat as memecoins make a comeback
6 Days ago
Blockchain Timeline
Yuga Labs co-founder Greg Solano announced that the firm is restructuring which required cutting some team members.
Solano mentioned that Yuga Labs will focus on building smaller more agile and crypto native team. The memo also mentioned that development efforts on 3D Otherside game are becoming a main focus.
New announcements will follow regarding the company's future plans.
NFT giant Yuga Labs cutting staff in company restructuring
7 Days ago
Blockchain Timeline
The US Personal Consumption Expenditure Index showed an increase of 2.7% YoY compared to 2.6% expected.
Core PEC index which is the FED's preferred inflation metric, printed at 2.8% YoY compared to 2.7% expected.
Personal spending surprised to the upside coming in at 0.8% MoM compared to 0.6% expected. US stock indexes reacted positively to the numbers with the S&P 500 futures currently gaining 0.85%.
US PCE price index came at 2.7% in March meeting economist’s expectations
7 Days ago
Blockchain Timeline
S&P 500 futures are rising 0.80% while Nasdaq futures are up 1.10% following Thursday's strong earnings reports.
Google beat analysts expectations for Q1 on strong performance from Search, YouTube and Cloud. The company reported $80.54 billion in revenue vs $78.59 expected and $1.89 earnings per share vs $1.51 expected.
Intel beat analysts expectations on earnings per share reporting $0.18 vs $0.14 expected. Revenue number came in line with expectations at $12.72 billion.
Microsoft beat analysts expectations reporting 23% year on year growth in Microsoft Cloud. Earning per share came at $2.94 vs $2.82 expected and revenue at $61.86 billion vs $60.80 expected by Wall Street.
Snap Q1 results surprised analysts by reporting 21% increase in revenue and positive earnings per share. Revenue came at $1.19 billion and earnings per share at $0.03 vs -$0.05 expected. The company's stock was up 23% after hours.
US indexes rebound on strong Tech earnings
7 Days ago
Blockchain Timeline
Consensys, the firm behind the most popular Ethereum Wallet, MetaMask, filled a lawsuit against the SEC in Texas federal court. The company aims to prove indefinitely that ETH is not a security.
The SEC is claiming that MetaMask is operating as an unlicensed broker dealer and objects to MetaMask offering users a means to stake Ethereum on their behalf.
The Consensys lawsuit was filed in Texas, which has shown greater skepticism of agency actions than other courts. The SEC can now choose to file a lawsuit on its own or resolve the issue with Consensys in the Texas court.
The company behind MetaMask Wallet is suing the SEC to prove ETH is not a security
8 Days ago
Blockchain Timeline
John Collison co-founder of Stripe unveiled on the company's conference that the platform will begin accepting crypto payments again. Stripe ended crypto support in 2018 claiming low interest for Bitcoin payments by their customer base.
The new feature is coming this summer and will initially support payments in USDC on Solana, Ethereum and Polygon networks. Collison demoed the feature live using Phantom Wallet.
Stripe processed over $1 billion worth of transaction in 2023 increasing its volume more than 25% since 2022. The company is by far the most valuable fintech unicorn worldwide, with a valuation of $50 billion. Revolut is ranked second, valued at $33 billion followed by Chime, Ripple, and Devoted Health.
Stripe to make crypto payments available again starting with USDC on Solana and Ethereum
8 Days ago
Blockchain Timeline
The US economy grew by 1.6% in the first quarter of 2024 compared to 2.5% expected by analysts. The latest GDP number comes after the revised 3.4% print of Q4 2023.
US stock indexes extended their declines and government bonds came under pressure after data was released. Bitcoin is down 1.30% in the last hour, Ethereum is also declining by 1.70% and Solana is currently seeing a drop of 4.70%.
Quarter
GDP Growth
Q3 2023
4.9%
Q4 2023
3.4%
Q1 2024
1.6%
US GDP growth slows down significantly causing market-wide selloff
8 Days ago
Blockchain Timeline
Tesla reported on Tuesday Q1 revenue of $21.3bn compared to $23.3bn last year, missing analyst's expectations for $22.3bn. That marks Tesla’s first year-on-year quarterly drop since the start of 2020.
Adjusted earnings per share almost halved from a year ago to 45 cents, versus estimates for 52 cents. Gross margins declined for the sixth consecutive quarter to 17.4%, down from a peak of 29.1% in Q1 of 2022.
Despite the miss in earning, Tesla
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