In April, Bitcoin whales, entities holding between 100 and 100.000 BTC, took advantage of price volatility in the market to accumulate more than 60.000 BTC. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin whales accumulated 64.094 BTC in April
📍According to Santiment, Bitcoin whales continue to silently accumulate more units of the cryptocurrency. Via Twitter, the market intelligence platform noted that Bitcoin whales added another 64.094 BTC to their wallets collectively during the month of April.
The volatility seen in the BTC price last month prompted cryptocurrency whales to continue accumulating BTC units, the platform noted.
Although Bitcoin closed its fourth consecutive month on the rise, during April the price of the cryptocurrency fluctuated between $27.000 and $31.000 per unit. Bitcoin whales took advantage of this volatility to continue accumulating BTC silently.
MicroStrategy, the largest institutional investor in Bitcoin, announced the acquisition of 1.045 more bitcoins in early April, accumulating a total of 140.000 BTC in its treasury. At the time of writing this article, the total bitcoins held by this company are valued at over $3.900 billion USD.
The 1st US mutual fund launches on the Polygon Network
📍American investment company Franklin Templeton has launched a fund on the Polygon Network. Franklin Templeton has chosen the Polygon sidechain to tokenize its Franklin OnChain US Government Money Fund (FOBXX) mutual fund on the blockchain.
According to Roger Bayston, Head of Digital Assets at the investment firm, the tokenization of FOBXX on the Polygon chain allows Franklin Templeton to extend the reach of its mutual fund to make it compatible with the blockchain ecosystem.
Ethereum’s transition to the Proof of Stake consensus protocol and the development of its second-layer scalability solutions have attracted an increasing number of institutional investors, looking to exploit new opportunities in Web3.
Commenting on the launch of the blockchain fund, Colin Butler, Head of Institutional Capital at Polygon Labs, said it was incredible to see an institution of Franklin Templeton’s stature enter the blockchain world.
Ryan Wyatt, president of Polygon Labs, also said that Franklin Templeton is the first US mutual fund to go blockchain-enabled. The company manages over $1,4 trillion in funds globally.
Blur and Paradigm launch NFT lending protocol
📍Blend, the new p2p protocol for loans secured with NFTs. The new collateralized lending protocol was unveiled by non-fungible token marketplace Blur in partnership with crypto-focused investment firm and Web3 developer Paradigm on Monday, May 1.
Blend is designed as a perpetual lending protocol that supports arbitrary collateral, including NFT tokens. In its technical documentBlend developers indicated that the protocol uses a sophisticated off-chain bidding mechanism that allows users to borrow against their non-fungible collateral with any lender willing to offer the most competitive rate.
Unlike other NFT lending protocols, Blend does not use oracles, so users' borrowing positions will remain open indefinitely until liquidated, the developers said. Moreover, fees on Blend are controlled by the NFT marketplace governance, through its BLUR token.
With the launch of this new p2p lending protocol, Blur and Paradigm aim to optimize the borrower experience, offering new possibilities.
The Fed can raise interest rates by 25 basis points
📍This week, the US Federal Reserve (FED) will hold a new monetary policy meeting. The Fed is expected to announce a further 25 basis point interest rate hike. In fact, the CME Group derivatives market estimates that the Fed will announce such a hike with an 85% probability. This week, the European Central Bank (ECB) will also establish a new adjustment to its interest rates.
Meanwhile, the Bitcoin and cryptocurrency market remains awaiting the Federal Reserve's decisions. The price of Bitcoin has corrected by 5% this Monday, trading at around $28.350. Ethereum has also fallen slightly this Monday, trading at around $1.800 per ether.
Continue reading: The Kingdom of Bhutan has been mining bitcoins with hydroelectric power for years
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