Crypto Prices April 18: Crypto Market Surges After Major Dip

Crypto saw a significant surge in value within last 24 hours

TOP 5 Gainers Coins

Crypto News Key Highlights:

• BlackRock's iShares Bitcoin Trust (IBIT) is gradually closing in on Grayscale's Bitcoin Trust (GBTC) market share, with IBIT's daily inflows hitting $24.9 million on April 17. Despite a slower accumulation pace, IBIT holds $16.8 billion worth of Bitcoin, just $2.2 billion behind GBTC. However, GBTC's high 1.5% trading fee has led to significant sell-offs, impacting Bitcoin's price.

• There was no change in the number of Americans filing new claims for unemployment benefits last week, maintaining low levels and indicating ongoing strength in the labor market. The Labor Department reported that initial claims for state unemployment benefits remained steady at 212,000 for the week ending April 13, according to seasonally adjusted figures. Economists surveyed had anticipated 215,000 claims for the latest week. Throughout this year, claims have fluctuated within a range of 194,000 to 225,000.
  

• Bitcoin halving's impact on altcoins remains uncertain. While Bitcoin's halving historically triggers a bull run, affecting market sentiment, altcoins like Ethereum often follow suit. However, factors like tokenomics, market sentiments, and economic events play crucial roles. Anticipating a post-halving surge in altcoins, influenced by factors like Ethereum ETF and regulatory improvements, requires consideration of various financial factors and historical trends.

• Pi coin stands out as a mobile-minable digital currency on Pi Network, eliminating the need for specialized hardware. Governed by its community, it utilizes the Stellar consensus protocol. With a scheduled launch on June 28th, it's anticipated to reach $0.4 (INR 33) post-launch. Pi Coin offers a profitable investment opportunity without upfront costs, appealing to crypto investors.

• John Deaton criticized Senator Elizabeth Warren for prioritizing stablecoin concerns over pressing domestic issues like healthcare. Warren's letter to Treasury Secretary Janet Yellen highlighted fears of terrorist exploitation of cryptocurrencies, echoing Deputy Secretary Adeyemo's concerns about anti-money laundering measures. Warren urged regulatory scrutiny across the crypto ecosystem.

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Also read - Crypto Prices Today April 18: Bitcoin Holds Strong at $60K