Bitcoin Transaction Fee Record, Celo Chooses OP Stack for L2

Apr 22, 2024
Market Update After significantly outperforming equities leading up to its halving event on Friday, #BTC continued its upward trend over the weekend, now trading just below $66k. $ETH has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. #SOL, meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well today, with no particular themes overshadowing others, but some noteworthy outperformers include #IMX and #OP, as well as AI-adjacent tokens like #NEAR and #RNDR. Equity indices have seen slight gains so far today, with the financials sector leading the charge. Earnings season begins in earnest this week, with Q1 numbers expected from Meta, Microsoft, and Google. Additionally, significant economic data to watch for this week includes Q1 GDP, with a current forecast of 2.5%, scheduled for release on Thursday and Core PCE arriving on Friday.Following the fourth Bitcoin halving on Friday evening, total bitcoin miner revenue saw a sharp increase, primarily due to a spike in network fees associated with the launch of the Runes protocol and the minting of new tokens. Daily transaction fees reached over $80 mill

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC 0.34% breaking below $67k, ETH 1.21% finding support around $3500, and SOL 2.87% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

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