All You Need to Know About Bitcoin in April 2024
If you’re curious about Bitcoin and its ecosystem, you’ve come to the right place. Last month, Bitcoin faced significant price fluctuations following its fourth halving event. Despite the drop in price, the network experienced a surge in activity, setting new records in transactions and fees. Let’s delve into the key takeaways, price performance, network activity, ETF updates, mining developments, DeFi updates, NFT trends, and what lies ahead for Bitcoin in the coming months.
Key Takeaways from April 2024:
- The Bitcoin price dropped post-halving, reaching $57,000 and marked the sharpest decline since the FTX collapse.
- Despite the price drop, the network saw a surge in activity, hitting a record high of 927k daily transactions on April 23.
- Record-high transaction fees of $25.8 million were recorded on April 24.
- Spot Bitcoin ETFs experienced $343.5 million of net outflows in April.
- Hong Kong launched the first three spot Bitcoin ETFs in Asia, aiming to become a crypto investment hub.
- Bitcoin Ordinals NFTs reached a $2.3 billion valuation despite some challenges.
- Bitcoin remained the leader in NFT sales volume, generating over $594 million compared to other blockchains.
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