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Crypto Prices Apr 15: Hong Kong Approval Fuels Crypto Surge

15-Apr-2024 By: Lokesh Gupta
Crypto Prices Apr 15

Crypto currency experienced a notable rise over the past day

TOP 5 Gainers Coins

IndicesLTPChange (%)
AIOZ Network$0.790329.37%

Crypto News Key Highlights:

  • Hong Kong Securities and Futures Commission (SFC) approved spot Bitcoin and Ethereum ETFs, a first for the region. Prominent firms like China Asset Management and Harvest Global Investments secured approval. Mainland Chinese investors may face hurdles due to China's crypto ban. Southbound Stock Connect program doesn't cover digital currency products, aligning with China's cautious stance on cryptocurrency risk.

  • Solana addressed ongoing congestion issues with the release of v1.17.31 on Mainnet Beta. Anatoly Yakovenko noted the release's significance in mitigating network congestion. Anza's v1.18.11 release on devnet aims to further address congestion. SOL price surged by 15%, reaching $156, with futures open interest rising. Whales withdrew $3 million from Binance to invest in Solana meme coins amidst market recovery.

  • Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), joins forces with Bitpanda to offer crypto custody services by mid-2024, bolstering crypto adoption amid anticipation of Bitcoin halving. LBBW aims to meet growing demand from corporate clients for digital assets. German financial institutions are increasingly engaging in crypto activities ahead of EU regulations. Retail and institutional interest in Bitcoin and altcoins remains high in Germany.

  • Bitcoin's weekly inflow plummeted to $126 million amid heightened volatility due to uncertainty around halving and geopolitical tensions in the Middle East, driving prices down to $61,600. Ethereum faced its 5th consecutive week of outflows, totaling $29 million. Regional disparities in investment trends were notable, with the US witnessing significant outflows while Germany attracted $29 million in inflows.

  • Excitement builds in the cryptocurrency community as the Bitcoin Halving approaches, with Ordinals experiencing increased activity. NFT collections like nodemonkes and BitcoinPuppets thrive on the platform. Runes Protocol aims to simplify tokenization, generating interest pre-halving. However, Bitcoin miners face revenue challenges with rewards expected to halve, prompting the need for innovative solutions.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Crypto Mystery: Iran-Israel Conflict or Pre-Halving Jitters?

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