BTC on exchanges hits a 2021 high/ Bitwise files index fund with the SEC / Fresh Funding for TradeStars + Phuture

Plus: Phillips auction house sold a self-replicating NFT for $3.4M

Inside.com Part of   Network April 23, 2021

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The global crypto market cap is $1.90T -3.38%▼ with a 24hr market volume of $288.90B 36.39%▲. Bitcoin's dominance is currently 50.51% 0.68%▲.  CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $51,056.48 4.00% ▼ 2 Ethereum ETH $2,341.81 7.01% ▲ 3 Binance Coin BNB $527.45 0.17% ▼ 4 XRP XRP $1.12 13.56% ▼ 5 Cardano ADA $1.16 5.28% ▼ *Prices as of 4:45 p.m. ET.

Bitwise Asset Management filed with the SEC to have its main fund become an SEC reporting company. The filing for Bitwise 10 Crypto Index Fund was made public today. More: In a press release issued by Bitwise this morning, the company recognized that the Bitwise 10 Crypto Index would be the first index-based crypto investment vehicle to become an SEC reporting company. There are only two crypto funds that have achieved the status of an SEC reporting company: Grayscale Bitcoin Trust and Grayscale Ethereum Trust. If approved, Bitwise would be subject to Regulation 13A of the Exchange Act, requiring annual reports on Form 10-K, quarterly Form 10-Qs, and current reports on Form 8-K.

After Bitcoin dipped below $50K, BTC transfers into crypto exchange rates hit a 2021 high. More cryptocurrencies have entered exchanges today than all of last year, the highest level since Black Thursday. More: Inflows to crypto exchanges are seen to be a bearish signal as more long-term holders look to reenter the market to sell or trade their tokens. Bitcoin fell below $50K for the first time in 48 days but has since refound its support above $50K. The slip in price was, in part, due to reports of President Biden’s proposed tax hike on capital gains for Americans earning more than $1M annually.

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▲▼ TOP GAINERS / LESSER LOSERS # Name Price 24h % 1 PancakeSwap CAKE $27.10 2.68% ▲ 2 Cosmos ATOM $20.30 0.24% ▲ 3 Binance Coin BNB $527.45 0.17% ▼ 4 Maker MKR $4,221.45 1.58% ▼ 5 Bitcoin BTC $51,056.48 4.00% ▼ ▼ TOP LOSERS # Name Price 24h % 1 Bitcoin SV BSV $248.29 16.38%▼ 2 EOS EOS $5.46 14.69%▼ 3 Tron TRX $0.105 14.39%▼ 4 Klaytn KLAY $2.02 13.60%▼ 5 XRP XRP $1.12 13.56%▼ *Limited to cryptocurrencies with a market cap >$4B. Prices as of 4:45 p.m. ET.

🍋 FRESH FUNDING 🍋 TradeStars, fantasy sports platform: $1.67. The Ethereum based fantasy sports type platform for investors raised $1.67M in a private strategic funding round led by AU21, Block Dream Fund, and LD Capital Partners. More: Additional participants in the round included Sfermion, Taureon, Spark Digital Capital, Morningstar Venture, Free Company, Hype Partners, Faculty Group, and others. The funds were raised to accelerate the product development of the gamified stock trading app. TradeStars Token (TSX) will be the native utility token for the platform. It will be built on the Ethereum blockchain under the ERC20 standard. Phuture, DeFi: $1.5M. The decentralized protocol company raised $1.5M in a private seed round led by Ascensive Assets. More: Additional participants in the round included SevenX, Moonrock Capital, Origin Capital, and Danish Chaudhry (CEO of Bitcoin.com). The fresh funding will be used to hire additional developers, further development, and build out its early user base. Phuture protocol allows users to create and invest in indexes of Web 3 ecosystem tokens.

QUICK HITS Here is an enterprise-ready solution to take the stress out of monitoring.* Phillips auction house sold Michah Dowbak’s ("Mad Dog Jones") self-replicating NFT “REPLICATOR” for $3.4M. Investment broker Charles Schwab stated that regulatory clarity is necessary before it incorporates crypto trading services on its platform. The Louisiana House of Representatives commended Satoshi Nakamoto, the mysterious creator of bitcoin, for his contributions to economic security. Christine Brown has been elected as the chief operating officer (COO) of Robinhood’s crypto division. The SEC is currently reviewing Kryptoin’s BTC ETF proposal. Public comment on their decision is open for the next 20 days. Paxos received conditional approval for a bank charter from the OCC. Paxos is the third crypto company to receive OCC approval and the first to receive the approval to set up an entirely new bank. Share ideas with a community of investors through this investing social network.* *This is sponsored content.

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Jonathan Harris is a writer for Inside.com. Previously, he wrote for The Huffington Post, TakePart.com, and the YouTube channel What’s Trending.

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