Bitcoin is trading at $50,026 with an increase of 4.20 percent in the last 24 hours, and Ethereum is trading at $2,649 with an increase of 6.63 percent in the same time period.
Thus, Bitcoin is one step closer to its historical high level of $ 69 thousand, which it saw in November 2021.
With the rise in cryptocurrencies, the total market value of the cryptocurrency market increased and reached 1.82 trillion dollars. The market value of Bitcoin is 981 billion dollars, and the market value of Ethereum is 318 billion dollars. The bulletin prepared by the CoinTR Research Department includes developments in the cryptocurrency industry.
FRANKLIN TEMPLETON APPLIED FOR SPOT ETHEREUM ETF IN THE USA
Another highlight of the day was that Franklin Templeton joined other Wall Street firms by applying for a spot Ethereum exchange-traded fund (ETF) in the United States. The $1.5 trillion asset management company plans to generate additional income by staking a portion of the ETF. According to CoinTR, other applicants include BlackRock, VanEck, Fidelity, Invesco Galaxy, Grayscale and Hashdex. Dates have been set by which the SEC must make a decision; May 23 for VanEck, May 24 for ARK 21Shares, May 30 for Hashdex, June 18 for Grayscale, and July 5 for Invesco. The decision dates for Fidelity and BlackRock’s applications are August 3 and August 7, respectively. Bloomberg analysts predict that all applications will be decided on May 23. Franklin was one of 10 ETF issuers to launch a spot Bitcoin ETF in the US last month.
THE DATE SET FOR CZ’S PRISON SENTENCE HAS BEEN POSTPONED TO APRIL 30
The court date where Binance founder CZ Zhao will be tried on money laundering charges has been postponed to April 30. The hearing, originally expected to be held on February 23, was postponed by the Seattle Federal Court. Zhao could face up to 18 months in prison. On November 21, Zhao made a $4.3 billion agreement with the US government due to the lack of money laundering program in Binance and resigned as Binance CEO. On December 29, a US Federal court denied Zhao’s request to travel to Dubai, forcing him to remain within US borders.
A NEW NFT STANDARD IN ETHEREUM
A week after the launch of ERC-404, another team of developers created an Ethereum standard called “DN404”. DN404 is a “fungible NFT” standard that aims to combine NFTs with fungible and non-fungible tokens. DN404 claims to be more efficient than ERC-404, providing a combination of an ERC-20 and an ERC-721 token using two contracts. The goal is to allow NFT holders to trade portions of their NFTs without intermediaries. However, the developer states that the code is not officially audited and using it is risky.