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China is exporting deflation across the Western world. Ultimately this will be good for risk assets as it relates to the end of the global interest-rate increase cycle, one observer said.
PLUS: The dYdX Foundation's Charles d'Haussy says that dYdX's move away from Ethereum might be the beginning of a broader trend.
The Bureau of Labor Statistics will release the nonfarm payrolls report for June at 12:30 UTC.
Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.
PLUS: Bitcoin tumbled below $30,000 for the first time in almost two weeks after a disappointing ADP private sector jobs report and ISM services index, but regained some ground later on Thursday.
The largest and smallest bitcoin whales have added to their holdings, but the group in between has jettisoned some of their tokens.
Traders now see a 94% chance of the Fed raising rates by 25 basis points later this month.
Observers call for spot-based bitcoin ETF as the bull market raises cost of pre-expiry rollover of positions for futures-based ETFs.
The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.
- 06:19Mayor of Vancouver: Evaluating the conversion of part of the city's financial reserves into BitcoinOdaily Planet Daily reports that Ken Sim, the Mayor of Vancouver, Canada, stated in a recent keynote speech that he will continue to promote Vancouver as a Bitcoin-friendly city. He is currently waiting for a report from city government staff to confirm the integration of digital currency into Vancouver's financial strategy and system. This includes but is not limited to accepting Bitcoin for tax payments and converting part of the city's fiscal reserves into Bitcoin to maintain purchasing power and guard against fluctuations, depreciation, and inflationary pressures of traditional currencies.
- 06:10Data: Ethereum spot ETF had a total net outflow of 29.1981 million US dollars yesterday, continuing for 4 days of net outflowsChainCatcher reports that according to SoSoValue data, yesterday (Eastern Time April 11th), the total net outflow of Ethereum spot ETF was $29.1981 million. The Ethereum spot ETF with the highest single-day net outflow yesterday was Grayscale's ETHE, with a single-day net outflow of $26.052 million. Currently, ETHE's total historical net outflows have reached $4.226 billion. Next is Bitwise's ETHW, with a single-day net outflow of $3.1461 million. Currently, ETHW's total historical net inflows have reached $308 million. As of press time, the total asset value of Ethereum spot ETFs is $5.239 billion and the ratio of ETFs' assets to Ethereum’s market cap (the proportion compared to Ethereum’s overall market value) has reached 2.76%. The cumulative historical inflow has now reached $2.276 billion.
- 05:58The Babylon Bitcoin pledge function has been launchedPANews reported on April 12th that Babylon announced via Twitter that the Bitcoin pledge function has been launched. For the first time, Bitcoin can be pledged to provide proof of stake (PoS) security for Babylon Genesis and receive pledge rewards as a return. To ensure safety, only 1000 Bitcoins from the first phase Cap-1 are currently allowed to register. After a buffer and testing period of 24 hours, the Bitcoin pledge was officially activated at 18:04:03 on April 11 (UTC+8), at block height 27600 in Babylon's genesis block. Previous news revealed that Layer 1 blockchain Babylon Genesis, which uses Bitcoin as collateral, has officially launched. It is reported that this is the second stage of Babylon's launch of the Bitcoin pledging protocol.