🚀 Bitcoin ETFs Launching Like Elon's Rockets

Happy Monday dear subscribers! In today’s NL “How to set a 2FA, by the FED” (just kidding). 

In today's bulletin, we are covering:

• Surfing the Market, with analysis about BNB and FTM

• Don't miss the News about ETFs and a Bitcoin Halving!

• Pocket Network is under the spotlight.

• Short article about IPOs

• Our selection of the best Gems on X

Bouncy Monday for a change. BNB showing strength and leading once again like in the good old times. I think it's due for a major reversal. But the first step will be to breach and consolidate over the key $340 resistance:

FTM also on my scope. After a -35% correction reached the main support and is squeezing against the main downtrend resistance. Primed for a new wave. Great risk/reward.

Bitcoin ETFs Trade $7.1 Billion in Cumulative Volume on Second Day

Spot bitcoin ETFs maintain strong performance on their second day of trading, accumulating a total volume of nearly $7.1 billion. BlackRock's ETF leads in daily trading volume, while Grayscale dominates on day two.

While these figures present a snapshot of the early success of bitcoin ETFs, it's essential to note that data on inflows is subject to change, and these numbers may see upward adjustments over time.

• Spot bitcoin ETFs have an active second day of trading, with cumulative volume nearing $7.1 billion.

• On the first day, the ETFs generated almost $4.6 billion in buying and selling.

• BlackRock's new spot bitcoin ETF led in trading on Thursday, surpassing $1 billion.

• Grayscale dominated day two volume with $1.5 billion, while BlackRock ranked second with $459 million.

• Bitwise's spot bitcoin fund reportedly led in inflows on the first day, with $238 million.

• Fidelity and BlackRock followed with $227 million and $112 million in inflows, respectively.

Overall, the enthusiastic response and substantial trading volumes indicate a strong market appetite for these newly introduced investment vehicles.

Countdown Begins: Bitcoin's Next Halving Just 100 Days Away

Bitcoin's upcoming halving event, expected in approximately 100 days or 14,500 blocks, will reduce the block reward for miners from 6.25 to 3.125 BTC.

The countdown, estimated by CoinGecko and OKLink, suggests a potential date of April 22 based on Bitcoin's average block generation time of 10 minutes.

Halving events, occurring every 210,000 blocks or roughly every four years, have historically influenced significant price fluctuations in the cryptocurrency market.

• Bitcoin's next halving event, reducing block rewards for miners from 6.25 to 3.125 BTC, is approximately 100 days away.

• Estimated countdown based on Bitcoin's average block generation time of 10 minutes suggests a potential date of April 22.

• Halving events occur automatically every 210,000 blocks, roughly every four years, with the last one on May 11, 2020.

• Historical data indicates Bitcoin halvings have preceded significant price fluctuations and bull runs in the cryptocurrency market.

Analysts foresee the upcoming event passing with minimal drama, anticipating Bitcoin's rise above $48,000 post-halving and a potential cycle peak of up to $160,000.

Today we have POCKET NETWORK under the spotlight; The Decentralized RPC Network.

This project is related to the DePIN (Decentralized Physical Infrastructure Networks) narrative.

In a way is a specific variant within the whole RWA (Real World Asset) narrative, but much more specialized and centered.

Decentralized applications (dApps) use a special type of node — called an “RPC node” — to read data on the blockchain and send transactions to the network. 

RPC stands for “remote procedure call” and many times the infrastructure used for said communication ends up being centralized even when the dApp was decentralized itself.

Pocket comes with a solution to have truly decentralized applications and also infrastructures providing a network of RCP nodes and endpoints that connect dApp users with any blockchain, giving them the ability to request information on-chain and even carry out interactions in real time.

This gives benefit for both developers and node operators, while Pocket acts as intermediary the developers will experience::

• Less interruptions: If one node goes down there are others to take over.

• Less operating cost: Different plans depends how many RPCs you needs

• Operations cross & multi chain: Pocket allows to connect with over +40 different blockains.

The native token of the project is $POKT and drives the Pocket Network’s marketplace, to use the service, both customers and Service Nodes must stake $POKT as collateral.

It started with an initial supply of 650 Million $POKT and works on an inflationary model (with burn mechanics planned for the future) where the token mints depend on the network’s workload.

That’s it for Pocket Network today, definitely an interesting project with a real use-case and potential, if you want to get deeper into to have a look at their website and twitter.

Stay tuned for next Monday research! Have a nice week 🙂

What is an IPO?

The crypto world is merging at a fast speed with the traditional market, especially with Wall Street. Coinbase was the first company to go public through an IPO, and now Circle, the issuer of USDC coin, has filed for an IPO. Let’s see why it is important and how it works.

An Initial Public Offering is the process of transitioning from private to public status for companies. In other words, going public allows everyone to be part of the company through the stock market. 

The primary goal of an IPO is to raise money to expand the business and to monetize part of the investment from the original shareholders. And being a public company provides transparency and credibility, which helps obtain better terms when seeking further funds in the future.

Companies often consider going public when they reach unicorn status, which is a valuation of 1 billion dollars.

The underwriters, often Banks, are involved in every aspect of the IPO, including documentation, filing, marketing, issuance. They are the ones who price the shares through a due diligence process. 

An IPO is an expensive process, as numerous SEC requirements must be fulfilled and they have to report earnings every quarter. Additionally, price fluctuation could distract the management, especially when they are compensated based on stock performance rather than the company’s real business.

In summary, going public is a big step for a company and for crypto companies it means stepping into the sanctuary of TradFi, namely Wall Street.

Adoption curve doesn't lie

Keeping the gameplan simple

Vanguard's terrible mistake

Don’t sleep on this market, lots of opportunities to come, see you next week!