This monthly roundup reviews the top cryptocurrency-related news from April. The top cryptocurrency news in April revolved around corporate bitcoin purchases, the confirmation of crypto-friendly Paul Atkins as SEC chief, Sui’s price increase following positive developments, and Bitcoin’s new hashrate record.
April in the cryptocurrency markets April was an interesting time for cryptocurrency price movements , with significant fluctuations both up and down. Similar to the stock markets, the single biggest factor affecting the cryptocurrency market was the developments in the US-China trade war. The price movements of the largest cryptocurrencies by market capitalization, Bitcoin and Ethereum , varied throughout the month. Bitcoin rose by around ten percent in April, while Ethereum fell by around five percent. Among the higher-cap cryptocurrencies available through Northcrypto, the best performers in April were Bittensor and Sui , both of which saw price increases of around 50 percent during the month. Companies announced Bitcoin purchases Several companies that had previously purchased bitcoin announced increased holdings in April:The American company Strategy bought 25,370 bitcoins, increasing their holdings to 553,555 bitcoinsThe American company Tether, behind the stablecoin USDT, announced the purchase of 8,888 bitcoins, bringing their total holdings to 92,646 bitcoins.Japanese investment firm Metaplanet bought 1,650 bitcoins, increasing their total holdings to 5,000 bitcoinsUS Medical technology company Semler Scientific bought 275 bitcoins, bringing their holdings to 3,467 bitcoinsIn addition to direct announcements of bitcoin purchases, several major players joined forces in April to create a bitcoin investment firm. Brandon Lutnick, head of investment banking at US firm Cantor Fitzgerald, Japanese investment firm SoftBank, Tether (the parent company of USDT) and crypto exchange Bitfinex, announced the launch of bitcoin investment firm Twenty One Capital. Twenty One Capital, which went public, started with a holding of 42,000 bitcoins, making it the third-largest corporate holder of bitcoin. According to CEO Jack Mallers, the firm is looking to raise as much capital as possible to buy bitcoin. Crypto-friendly Paul Atkins appointed SEC chairman In early April, the U.S. Senate confirmed crypto-friendly Paul Atkins as head of the Securities and Exchange Commission (SEC). This marked a significant step forward for the cryptocurrency market, as Atkins’ predecessor, Gary Gensler, had taken legal action, sometimes on questionable grounds, against several crypto entities. Atkins is known to have a stake worth up to $5 million in crypto investment firm Off the Chain Capital. He has said that his main goal as SEC chairman is to establish a solid regulatory foundation for cryptocurrencies through a rational, consistent, and principled approach. Sui price increased in April due to positive news The smart contract platform Sui, developed by former Meta (formerly Facebook) employees, was among the best-performing high-cap cryptocurrencies in April. Sui’s price rose by almost 50 percent, briefly ranking it as the 12th largest cryptocurrency by market cap. Two key factors contributed to the price increase: first, a partnership with payments-focused xPortal and xMoney enabled a virtual Mastercard card using Sui’s blockchain . Second, the largest crypto asset management firm, Grayscale, launched a Sui fund. Bitcoin's hashrate reached a new record Bitcoin’s hashrate reached a new record in April. Hashrate refers to the total computing power used by miners to maintain the Bitcoin network. According to blockchain analytics firm Glassnode, the hashrate surpassed 1,000 exahashes per second (EH/s) for the first time in April, peaking mid-month at around 1,039 EH/s. By comparison, a year earlier, the hashrate was around 650 EH/s. A record-high hashrate indicates that the Bitcoin network is more secure than ever. Historically, hashrate has also shown a positive correlation with Bitcoin’s price. Summary April brought several news related to corporate purchases of bitcoin. As usual, the most significant purchase was announced by the American company Strategy, whose holdings increased by about five percent during the month. The bitcoin purchases announced by other companies also show the commitment of bitcoin holders to regularly increase their holdings. While the purchases from already known bitcoin buyers probably came as no surprise to many, the launch of Twenty One Capital, a publicly traded bitcoin investment company in the United States, can be considered a more unexpected development. Since the company’s goal is to raise as much capital as possible to buy bitcoin, we can expect to hear more about Twenty One Capital’s purchases in the coming months. From a regulatory perspective, April marked a major step forward in the treatment of cryptocurrencies in the US with the confirmation of Paul Atkins as SEC Chairman. Under Atkins’ leadership, we are likely to see a more positive attitude towards cryptocurrencies, helping to solidify the US’s position as a leading hub for crypto innovation. Sui’s smart contract platform was one of the most positively-reviewed cryptocurrency projects in April. The news of Sui’s price rally provided a strong foundation for participation in the Sui ecosystem by both individuals and institutional players. The virtual Mastercard can be seen as a great way to attract individuals to use the Sui network, while the Grayscale fund improves access, especially for institutional investors. Bitcoin’s hashrate continued its long-term upward trend in April, reaching a new record high. This record-high hashrate indicates the most secure and robust Bitcoin network ever and is strong evidence of miners’ confidence in Bitcoin’s success in the years to come. Ville Viitaharju Cryptocurrency specialist The original post is written in English. Translated with Google translator.