Author: Stephanie Bedard-Chateauneuf

Bitwise Chief Investment Officer Matt Hougan recently shared insights in an investor note, envisioning a significant drop of 50% in Bitcoin’s volatility alongside increasing institutional involvement leading up to the 2028 halving.

Hougan’s analysis points to Bitcoin’s historical patterns, notably its surge to a new all-time high just weeks before the 2024 halving. He anticipates this trend to persist post-halving, propelling Bitcoin’s value upward, much like its ascent from a modest $13 valuation during its initial halving in 2012.

Reaffirming previous forecasts, Hougan remains confident in Bitcoin’s trajectory toward a $250,000 valuation in the years ahead.

He attributes this sustained growth to Bitcoin’s growing recognition within the financial landscape, particularly following the debut of spot Bitcoin ETFs, which have witnessed remarkable performance since their launch.

Institutional Impact

Highlighting the transformative effect of spot Bitcoin ETFs, Hougan underscores their role in attracting a fresh wave of institutional investors. These entities, including financial advisors and large financial institutions, are known for their disciplined approach to trading, which contrasts with the speculative behavior of retail investors that has historically characterized Bitcoin markets.

Hougan predicts that the influx of institutional capital through Bitcoin ETFs will contribute significantly to the projected 50% reduction in Bitcoin’s volatility by the next halving.

He envisions a future where Bitcoin becomes a standard component in diversified investment portfolios, potentially constituting 5% or more of allocations. This projection reflects a growing confidence in Bitcoin’s maturation and reduced price fluctuations.

$200 Billion AUM

Hougan anticipates that institutional investments in Bitcoin ETFs could surpass $200 billion, driven by increased market accessibility and deeper financial integration. This influx of capital is expected to enhance market stability and cement Bitcoin’s status as a mainstream financial asset.

While acknowledging the inherent risks associated with cryptocurrency investments, including market volatility and regulatory uncertainties, Hougan paints a picture of a future where Bitcoin achieves widespread institutional adoption and emerges as a staple in investment portfolios, fundamentally reshaping market dynamics by the 2028 halving.

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Hong Kong is gearing up to debut its spot bitcoin and ether exchange traded funds (ETFs) on April 30, as announced by three asset managers on Wednesday.

This move positions Hong Kong as a trailblazer in Asia, becoming the first in the region to embrace cryptocurrency products as mainstream investment tools. The regulatory green light from the Securities and Futures Commission, as indicated on the Hong Kong markets watchdog’s website, underscores the city’s commitment to fostering a conducive environment for digital asset investment.

While mainland China maintains a ban on cryptocurrency, Hong Kong is actively positioning itself as a global digital asset hub, a strategic move aimed at enhancing its status as a financial epicenter. Over the past decade, Hong Kong has seen the presence of several leading international crypto exchanges and funds, although regulatory requirements have sometimes led to fluctuations in their operations.

The approval of these new products in Hong Kong follows closely on the heels of the United States’ introduction of its inaugural ETFs tracking spot bitcoin just three months ago. The U.S. ETFs have already witnessed significant traction, with approximately $12 billion in net inflows, contributing to a notable surge in bitcoin’s value earlier this year.crypto 

China Asset Management, Harvest Fund Management, and Bosera Asset Management, alongside local cryptocurrency firm Hashkey, are spearheading the launch of these ETFs in Hong Kong, with a target date of April 30. Against the backdrop of bitcoin’s impressive 50% year-to-date appreciation and its record-breaking high of $73,803 in March, the cryptocurrency was trading around $65,000 on Wednesday.

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In response to the ongoing challenges hindering crypto adoption, Web3 Freewallet has emerged as a solution, offering a secure and simplified platform supporting over 1,000 cryptocurrencies.

Despite the exponential growth of digital finance, many individuals remain hesitant to venture into cryptocurrencies. The complexity surrounding crypto technology often acts as a barrier, with 75% of US citizens who are aware of crypto expressing doubts about its safety and reliability.

This underscores the critical need for user-friendly tools that can alleviate these concerns, making it easier for newcomers to enter the world of digital currencies. Simplifying these technologies is pivotal for mainstream adoption and fostering trust among new users.

Introducing Web3 Freewallet: Supporting 1,000+ Cryptocurrencies

Web3 Freewallet, launched in February 2024, represents Freewallet’s foray into self-custody solutions. As a noncustodial wallet, it caters to the diverse needs of crypto users by supporting over 1,000 cryptocurrencies across 15 different blockchains, showcasing its versatility and broad compatibility.

Accessible via a Google Chrome extension or mobile application for iOS and Android devices, Web3 Freewallet requires no personal information from users, ensuring privacy. The setup process is tailored to individuals with no prior crypto experience, guided by an intuitive interface aimed at facilitating seamless entry into the crypto market.

The platform seamlessly connects users with decentralized applications (DApps) through WalletConnect, enabling activities such as staking, token exchanging, and trading on third-party decentralized finance (DeFi) platforms. Moreover, it offers features for monitoring market trends, managing crypto portfolios, swapping tokens, and purchasing crypto directly within the app.

Prioritizing Privacy and Security

Web3 Freewallet places a strong emphasis on user security, refraining from collecting private keys and implementing robust security measures such as PIN codes, passcodes, biometric sign-in options, and spending limits to safeguard against unauthorized access and potential theft.

Additionally, users can import existing noncustodial wallets by entering their seed phrases, facilitating streamlined management of multiple wallets within a single interface and ensuring easy wallet recovery.

Designed for Novice and Experienced Users Alike

Engineered to cater to both novice and experienced crypto users, Web3 Freewallet prioritizes ease of use, flexibility, and comprehensive security measures. With millions of users already onboard, the platform is committed to continuous improvement, with plans to introduce new features including a peer-to-peer (P2P) trading platform and a staking service, aimed at enhancing trading options and passive income opportunities.

Looking Ahead: The Future of Crypto Wallets and Adoption

As merchants increasingly embrace cryptocurrencies, the future holds promise for crypto wallets to evolve into versatile virtual cards, bridging the gap between digital and traditional fiat currencies. This evolution has the potential to significantly lower adoption barriers, making digital assets as accessible as conventional money.

As crypto usage expands, multifunctional wallets like Web3 Freewallet are expected to play a crucial role in driving broader adoption, seamlessly integrating digital assets into everyday financial activities worldwide.

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Shiba Inu, an Ethereum-based ecosystem featuring the second-largest token SHIB, has successfully raised $12 million in a recent token sale aimed at constructing a privacy-centric blockchain, as per a press release on Monday.

The investment round saw participation from notable investors including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, and Spirit Dao. These investors acquired the new network’s forthcoming utility and governance token, TREAT.

The token sale was conducted by Shiba Inu Mint S.A., an ecosystem development company registered in Panama, according to the press release.

The fundraising initiative follows a previous report by CoinDesk in February, revealing that Shiba Inu developers were collaborating with cryptography firm Zama to develop a privacy-focused network atop Shibarium, the ecosystem’s Ethereum-based layer-2 blockchain. This new network is set to utilize Fully Homomorphic Encryption (FHE), a privacy tool enabling developers to utilize data on untrusted domains without requiring decryption.

SHIB, the associated token, experienced a 2.2% increase over the past 24 hours, mirroring the general uptrend of the CoinDesk 20 Index. With a market capitalization of nearly $16 billion, SHIB currently ranks as the 12th-largest cryptocurrency.

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Although former President Donald Trump is better known for various endeavors, his involvement in the world of cryptocurrency has remained somewhat under the radar.

Recent revelations have shed light on Trump’s crypto portfolio, providing insight into his digital assets.

Using blockchain analytics, Arkham Intelligence has identified Trump’s wallet address by cross-referencing his financial disclosures. This analysis has unveiled not only Trump’s holdings but also those of various other entities, ranging from Tesla Inc. to Snoop Dogg.

Trump entered the cryptocurrency sphere in late 2022 when his name and likeness were utilized to promote and sell the Trump Digital Trading Cards non-fungible token (NFT) collection. This venture yielded Trump over 1,700 Ethereum (ETH) and Wrapped ETH (WETH) tokens.

In late 2023, Trump liquidated a portion of his ETH holdings, transferring 1,075 ETH to Coinbase, likely for sale.

However, Trump’s most significant crypto investment lies in MAGA Coin (TRUMP), a meme coin endorsing the former president. Initially, 580,000 TRUMP tokens were sent to Trump’s wallet, which, at the time, were worth a modest sum. Yet, the value of TRUMP has surged dramatically in 2024, driven by meme coin frenzy and increased media attention on Trump.

TRUMP’s price skyrocketed from less than 1 cent shortly after launch to an all-time high of $11.56 within six months, representing a staggering price increase of nearly 150,000%. Consequently, Trump’s TRUMP tokens, initially worth a few thousand dollars, ballooned into a small fortune, reaching highs of over $6.7 million before settling around $3 million.

However, recent market fluctuations have taken their toll on Trump’s crypto portfolio. Over the past week, TRUMP has experienced a significant decline of over 15%, while ETH has also dipped by approximately 12%. As a result, Trump’s holdings have plummeted by over $1 million in just seven days.

On April 11, Trump’s crypto portfolio stood at $6.6 million, only to drop to $5.4 million by April 16, marking a loss of over $1.2 million, or more than 18%.

These losses raise speculation regarding Trump’s next move. While this downturn may be a temporary setback, it could also signal trouble for the future of the TRUMP coin. Moreover, there is uncertainty regarding Trump’s awareness of his crypto holdings. If Trump perceives a potential decline in the token’s value and is cognizant of his position, he may opt to sell, as he has done previously.

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