Hey there, PoI readers! 🌟

Mochi here, ready to serve up another piping hot batch of tantalizing tech and web3 news. From the much-anticipated Bitcoin halving and the U.S. Bitcoin ETF market's inflow surge to Telegram's game-changing integration of mini-apps and Tether stablecoins on the TON blockchain, we've got a lot to sink our teeth into. So, grab your favorite crypto-themed snack and join me on this exhilarating journey through the ever-evolving world of digital assets! 🎈

INTEL BRIEF

🟧 Bitcoin has successfully completed its fourth halving event, reducing mining rewards from 6.25 BTC to 3.125 BTC per block, as the crypto community eagerly awaits the potential impact on Bitcoin's price.

🟧 Telegram's integration of mini-apps and Tether stablecoins on the TON blockchain will enable its 900 million users to make seamless peer-to-peer interactions, with many users interfacing with crypto for the first time without even noticing.

🟧 The U.S. Bitcoin ETF market recorded a net positive inflow right before the Bitcoin halving day, breaking a five-day outflow streak, with five out of ten approved ETFs contributing to a total inflow of $30.4 million.

🟧 Tether is launching its U.S. dollar-pegged USDT and gold-pegged XAUT stablecoins on The Open Network (TON), strengthening ties with Telegram's Web3 ecosystem and marking a milestone in Tether's expansion across multiple blockchains.

Bitcoin Halving 2024: A New Era Dawns

The much-anticipated Bitcoin halving event has finally come to pass, marking a significant milestone in the cryptocurrency's history. As the 840,000th block was mined, the mining rewards were slashed in half, dropping from 6.25 BTC to 3.125 BTC per block. This programmed process, which occurs roughly every four years, is designed to manage scarcity and regulate the inflationary supply of Bitcoin.

The crypto community is now abuzz with speculation about the potential impact of the halving on Bitcoin's price. Some predictions, like that of billionaire investor Tim Draper, suggest that the halving could help push Bitcoin's price up to "$250,000 or more". Draper believes that the reduced supply, combined with continued upward pressure on demand, will naturally lead to a price increase in a free market.

However, others, like Herbert Sim, aka "Bitcoin Man," argues that the halving is not the only factor influencing Bitcoin's price. Sim points to the recent approval of the Bitcoin ETF in Hong Kong as another potential catalyst, stating that "the big banks of China will all have to start buying Bitcoin themselves too."

Major Bitcoin miners, such as Marathon Digital and Riot Platforms, have been gearing up for the event by expanding their operations and acquiring new mining facilities. The anticipation surrounding the halving has been building, with many in the crypto community expecting a continued upward trajectory, albeit potentially more subdued than in previous halvings.

Bitcoin has completed its fourth halving event, reducing mining rewards to 3.125 BTC per block

The crypto community eagerly awaits the potential impact on Bitcoin's price, with some predicting a rise to $250,000 or more

Major Bitcoin miners have been preparing for the event by expanding their operations

The halving is seen as a pivotal event that historically signals a shift in the market, usually initiating a bullish trend

Telegram's Crypto Revolution: Mini-Apps and Tether Unleash Seamless User Experience

In a groundbreaking move, Telegram is set to revolutionize the way its 900 million users interact with cryptocurrency by integrating mini-apps and Tether stablecoins on The Open Network (TON) blockchain. According to Justin Hyun, director of investments at the TON Foundation, this development will allow users to make peer-to-peer interactions seamlessly, with many encountering crypto for the first time without even realizing it.

The launch of Tether on TON is poised to unlock the creator economy within the Telegram ecosystem, as users will no longer face the hurdles of acquiring different types of cryptocurrencies or tokens. Developers will also benefit from this integration, as they can now launch e-commerce, paywalled content, games, and other business activities on top of TON's layer-1 blockchain more smoothly.

Hyun highlighted the potential for socially viral mechanics, noting that "games are being created on a daily basis that are powered through Telegram mini-apps." These products will be accessible without the need to download external apps, a significant advantage over other platforms. The Catizen game serves as a prime example of the power of TON, with developers gaining 2 million users in just two months after migrating from another blockchain.

TON's global reach and native USDT support eliminate the need for local payment gateways, setting it apart from highly regionalized social media platforms like WeChat, Line, and KakaoTalk. Moreover, Tether integration allows Telegram to bypass payment restrictions imposed by Google and Apple.

The TON Foundation, created in 2021 by open-source developers, is now spearheading the project's return to its original vision, which was derailed by the inability to hold an initial coin offering in 2020 due to opposition from the U.S. Securities and Exchange Commission.

Telegram integrates mini-apps and Tether stablecoins on the TON blockchain. 

Users can make seamless peer-to-peer interactions, with many encountering crypto for the first time

Developers benefit from smoother launching of e-commerce, games, and other business activities on TON.

Bitcoin Halving Hype Sparks ETF Inflow Surge

The anticipation surrounding the Bitcoin halving event has not only captivated the attention of the crypto community but has also had a significant impact on the U.S. exchange-traded funds (ETFs) market. Just days before the halving, the Bitcoin ETF ecosystem experienced a notable shift, putting an end to a five-day outflow streak that had persisted since April 12.

According to Farside data, the outflows were primarily attributed to the Grayscale Bitcoin Trust ETF (GBTC), which has been shedding investments since the Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs in January. However, on April 19, five out of the ten approved ETFs recorded positive inflows, overshadowing the GBTC outflows and injecting a total of $30.4 million into the market.

The Fidelity Wise Origin Bitcoin Fund (FBTC) emerged as the top contributor, bringing in a substantial $54.8 million right before the Bitcoin halving event commenced. Other notable inflow contributors included the Bitwise Bitcoin ETF (BITB) at $4.9 million, ARK 21Shares Bitcoin ETF (ARKB) at $12.5 million, Invesco Galaxy Bitcoin ETF (BTCO) at $3.9 million, and Franklin Bitcoin ETF (EZBC) at $1.9 million.

This surge in ETF inflows can be attributed to the widespread anticipation of an increase in Bitcoin's market value post-halving. Investment strategies worldwide have been recommending the addition of Bitcoin to existing portfolios, and the ETF market has followed suit.

The previous Bitcoin halving, which took place on May 11, 2020, saw the asset's market value appreciate from roughly $8,500 to approximately $65,000 in four years. As the fourth-ever Bitcoin halving event triggered on April 20, network fees momentarily spiked due to high demand, with users spending a staggering 37.7 BTC in fees – worth just over $2.4 million at current prices – to secure their share of the limited space on the halving block.

U.S. Bitcoin ETF market records net positive inflow before halving, breaking five-day outflow streak.

Five out of ten approved ETFs contribute to $30.4 million inflow, overshadowing GBTC outflows.

Fidelity Wise Origin Bitcoin Fund (FBTC) emerges as top contributor with $54.8 million inflow.

Anticipation of post-halving market value increase drives ETF inflow surge.

Tether Expands to TON: USDT and XAUT Stablecoins Go Live on Telegram's Blockchain

Tether, the leading stablecoin operator, is further solidifying its relationship with Telegram's Web3 ecosystem by launching its U.S. dollar-pegged USDT and gold-pegged Tether Gold (XAUT) stablecoins on The Open Network (TON). The announcement, made on April 19, coincides with keynote speeches by Tether CEO Paolo Ardoino and Telegram founder Pavel Durov at the Token2049 event in Dubai.

This latest development marks a significant milestone for both Tether and TON. For Tether, it expands its coverage to 15 blockchains, including Tron and Ethereum, while for TON, it brings the potential for seamless value transfer and increased liquidity to its ecosystem. Ardoino emphasized the shared vision between Tether and TON of an open, decentralized internet and a borderless financial system.

The launch of USDT and XAUT on TON is particularly noteworthy because of Telegram's massive user base, estimated at over 900 million global users. This integration could provide a simple, borderless experience for peer-to-peer payments for Telegram users. According to Jack Booth, marketing head at the TON Foundation, the TON ecosystem enables transfers between fiat and crypto and aims to surpass traditional finance in efficiency and ease of use.

Booth highlighted the unique aspects of USDT's launch on TON, stating, "[There are] built-in on-ramps for fiat at the launch and global off-ramps to bank cards and accounts coming soon. This will be the first time a mass audience will be able to use crypto infrastructure for global payments."

USDT has been available on Wallet, a third-party custodial wallet for Telegram users, since at least 2023. With the launch of TON-based USDT, users will have another option alongside the existing TRC-20 USDT on the Tron blockchain.

The announcement comes on the heels of Tether's recent milestones, including the launch of a recovery tool in March 2024 that allows users to migrate USDT between different blockchains and USDT crossing an all-time high market cap of $100 billion on March 4.

Tether launches USDT and XAUT stablecoins on Telegram's TON blockchain.

Integration strengthens ties between Tether and Telegram's Web3 ecosystems

Launch marks a milestone in Tether's expansion across multiple blockchains.

And there you have it, my dear PoI readers! I hope this edition has left you feeling enlightened, entertained, and maybe even a little bit more bullish on the future of crypto. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual bear hug! 🐻🤗

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