Highlighted News of the Week
Grayscale spot Bitcoin ETF ‘Cuts in Half’ Preceding BTC Halving
Grayscale Investments, a notable investor in Bitcoin, observed a 50% decrease in its BTC exchange-traded fund (ETF) holdings in anticipation of the upcoming Bitcoin halving.
On April 16, the Bitcoin holdings in the Grayscale Bitcoin Trust ETF (GBTC) reduced by half from 619,220 BTC, the initial amount traded on Jan. 11.
During the 66th trading day, the spot Bitcoin ETF contained 309,871 BTC, marking a 50% drop since its inception, based on GBTC data.
The “halving” of GBTC occurred just 48 hours before the highly awaited Bitcoin halving, where the mining reward will decrease by 50% from 6.25 BTC to 3.125 BTC.
Owning once every four years, or per 210,000 blocks, the Bitcoin halving is a significant event often linked to subsequent surges in the cryptocurrency market.
While the two occurrences are unrelated, they align as another coincidence in the timeline of events related to Bitcoin.
Worldcoin Introduces its ‘Human-Focused’ Blockchain Network
Worldcoin, a startup specializing in identity coins, led by Sam Altman, CEO of OpenAI, has advanced its “human-centered” strategy in the Web3 domain by launching its new blockchain network, World Chain.
On April 17, Worldcoin revealed World Chain, an innovative blockchain project aimed at prioritizing human users, improving efficiency, and promoting practical usage in Web3 applications.
With over 10 million World IDs generated and 75 million transactions processed, Worldcoin demonstrates swift expansion for the initiative.
The exclusive network has been developed to grow along with the wider Ethereum network as an additional layer to meet the requirements of the project.
Cointelegraph had a discussion with Tiago Sada, the operations manager at Worldcoin, to delve into the network’s purpose and its strategy to retain human-centric values.
Sada mentioned that while World Chain operates akin to Ethereum and other L2 solutions, its key aspect is the emphasis on prioritizing human interactions…
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