Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. $2M Ethena Airdrop Recipient: Ethena Labs conducted a massive airdrop, distributing $450 million worth of tokens, with the largest recipient receiving nearly $2 million in ENA tokens. Following the airdrop, trading of the Ethena token commenced on major exchanges, solidifying its position as the 110th-largest cryptocurrency.

2. Spot Bitcoin ETF Trading Volume Triples to $111 Billion: Spot Bitcoin ETF trading volume surged to $111 billion in March, nearly three times the volume recorded in February, indicating investors' strong interest in BTC. BlackRock's IBIT leads in ETF market share, followed closely by Grayscale's GBTC and Fidelity's FBTC.

3. OpenSea adopts ERC-721C: OpenSea, a leading NFT trading platform, has adopted the ERC-721C token standard, enabling creators to implement and enforce royalties seamlessly.

4. Van Eck’s USD Stablecoin: Nick van Eck is launching Agora, a USD-backed stablecoin, with $12 million in VC backing. Fully collateralized by cash, U.S. Treasury bills, and overnight repo agreements, Agora aims to introduce stability and reliability to the stablecoin market, catering to the growing demand for digital dollar solutions worldwide.

5. 💡Feature of the Day - 'Notcoin' Game Token Launch: Notcoin, a viral Telegram-based clicker game, is launching its native token, NOT, on The Open Network (TON) around April 20, coinciding with the Bitcoin halving event.

6. 📈 Technical Analysis Masterclass - Watch UseTheBitcoin’s latest YouTube video “Bears are on the move!” as Ray, our in-house technical analysis expert shows us the latest trend shifts in the wider crypto market!

   
   All this and more in today’s headlines!

📰 News Highlights:

🎁 $2M Ethena Airdrop Recipient [Source][Source]

Ethena Labs made waves by airdropping a staggering $450 million worth of tokens, with the biggest recipient pocketing almost $2 million in Ethena (ENA) tokens. Wallet 0xb56 landed a windfall of 3.3 million ENA tokens valued at $1.96 million, as per on-chain data scrutinized by Arkham Intelligence.

The airdrop frenzy unfolded on April 2, with Ethena Labs dispersing its bounty among eligible wallets, completing the full allocation by 7:17 am UTC. This swift distribution was confirmed in an X post by Ethena Labs, reassuring participants of the seamless process.

Post-airdrop, trading of the Ethena token commenced at 8:00 am UTC on major centralized crypto exchanges like Binance, Bybit, and KuCoin. Despite a slight dip of over 15% in the token's value within 24 hours, ENA has firmly cemented its position as the 110th-largest cryptocurrency, boasting a market cap of $836 million.

📈 Spot Bitcoin ETF Trading Volume Triples to $111 Billion [Source][Source][Source]

March saw a meteoric rise in spot Bitcoin ETF trading volume, surging to an eye-popping $111 billion. This substantial uptick, nearly three times the volume recorded in February, underscores investors' unwavering interest in BTC.

BlackRock's IBIT remains the frontrunner in ETF market share, closely trailed by Grayscale's GBTC and Fidelity's FBTC. The dominance of these ETFs was evident in the April 1 net outflows data, with Grayscale witnessing substantial outflows while BlackRock and Fidelity attracted notable inflows.

Spot Bitcoin ETFs have revolutionized BTC markets, contributing to a rally that propelled prices to new all-time highs in March. With the impending Bitcoin supply halving, investors anticipate a unique market cycle driven by ETF success and halving dynamics.

🔗 OpenSea Adopts ERC-721C Programmable Earnings Standard [Source][Source][Source]

OpenSea, the leading NFT trading platform, has embraced the ERC-721C token standard, enabling creators to implement and enforce royalties seamlessly. This innovative standard, introduced by Limit Break, tackles NFT wash trading concerns by standardizing token transfer conditions across all channels.

Creators on OpenSea can now effortlessly enforce earnings with a single click, thanks to ERC-721C compatibility enabled by Ethereum's recent Dencun upgrade.

💵 Van Eck’s USD Stablecoin [Source][Source]

Nick van Eck, son of investment luminary Jan van Eck, is spearheading the launch of a new USD-backed stablecoin, Agora. Backed by a $12 million funding round and managed by VanEck, Agora aims to introduce a transparent and trustworthy stablecoin solution.

Fully collateralized by cash, U.S. Treasury bills, and overnight repo agreements, Agora's launch heralds a new era of stability and reliability in the stablecoin market. With a focus on international markets until U.S. regulatory clarity emerges, Agora seeks to cater to the growing demand for digital dollar solutions worldwide.

💡 Feature of the Day: 

🚀 'Notcoin' Game Token Launch [Source][Source][Source]

Notcoin, the viral Telegram-based clicker game, has reached a pivotal milestone as it wraps up its "mining phase" as planned. The game, which allows players to earn in-game Notcoins by tapping on a virtual coin, has seen tremendous success since its public launch in January, amassing over 35 million players and a peak daily active user count exceeding 6 million.

As the mining phase concludes, Notcoin is preparing to launch its native token, NOT, on The Open Network (TON) around April 20, coinciding with the highly anticipated Bitcoin halving event.

In addition to its massive player base, Notcoin has also introduced pre-market trading via NFT vouchers, allowing heavy players to convert their in-game holdings into tradable assets on The Open Network. With more than $14 million worth of Notcoin voucher trades already conducted, anticipation for the token launch is palpable.

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📈Technical Analysis Masterclass:

🐻 Bears on the move: A Bitcoin Analysis Thread 📉

Watch UseTheBitcoin’s latest YouTube video “Bears are on the move!” as Ray, our in-house technical analysis expert shows us the latest trend shifts in the wider crypto market!

😂 Crypto Meme of the Day: 

And that’s it for this today.

See you all for tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com