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This Halving isn’t treating you right? No worry we are on the same boat buddy.🚤 So while enjoying our ride, Let’s dive into The Web3 Watch 4th edition… 📰
ALERT: All blockchain developers, a great opportunity coming next week! Check out the events section at the end. 👀
Last week $BTC rose around 8% along with $ETH rising nearly 15% but this was not the confirmation of the bull run…. Both cryptocurrencies came down from their resistance. As we move forward a little piece of advice to traders is to keep in mind that they don’t go ALL IN at this moment and always follow their SL.
Bitcoin, the world's most valuable cryptocurrency, has recently surpassed one billion processed transactions after 800 weeks and one day since its launch on January 3, 2009. The network has processed an average of 178,475 daily transactions in its 5,603-day existence. However, this count does not include transactions made on the Lightning Network, a Bitcoin layer-2 payment protocol that enables faster transactions. This milestone comes at an exciting time for the crypto, with daily transactions increasing due to novel protocols like Bitcoin Ordinals and Runes, which have attracted more and more activity on the world's first blockchain.
Since the launch of Bitcoin ETFs, it have been acting as a bridge between cryptocurrencies and traditional investments, catching the attention of financial advisors seeking diversification and value for their clients' portfolios. Here are five clear reasons why financial advisors are increasingly incorporating Bitcoin ETFs into their strategies:
Fiduciary Duty: Advisors have a responsibility to act in the best interests of their clients, which includes conducting a thorough vetting of any investment products they recommend, such as bitcoin ETFs. With Bitcoin gaining traction in financial markets, advisors need to familiarize themselves with its characteristics to best serve their clients.
Because Bitcoin is going to the Moon: Bitcoin has a history of rapid growth, offering opportunities for significant returns. According to research by Bitwise Asset Management, adding a small allocation to bitcoin can significantly improve the risk-adjusted returns of a traditional diversified portfolio of stocks and bonds. Bitwise's analysis shows that over one-year, three-year, and five-year periods, a portfolio with a 5% allocation to bitcoin would have outperformed a traditional 60/40 stocks/bonds portfolio. For example, a 60/40 portfolio without Bitcoin returned 7.7% annualized over ten years, while adding just a 5% allocation to Bitcoin would have boosted returns to 12.5%. Even a 1% bitcoin allocation increased returns to 8.7%.
Ease of Use: Bitcoin ETFs are straightforward for advisors to use, trading on regulated exchanges like traditional stocks. They offer accessibility, liquidity, and tax efficiency, making it easier to incorporate cryptocurrency exposure into client portfolios.
Compliance and Security: Bitcoin ETFs operate within a regulated framework, providing compliance and security measures that address concerns associated with cryptocurrency investments. Advisors can assess suitability and manage risks more effectively.
Increasing Client Demand: Demand for Bitcoin ETFs is on the rise, reflecting broader interest in cryptocurrencies as investment options. As more financial institutions offer these products and non-professional investors participate, Bitcoin ETFs are becoming a staple in investment strategies.
Financial advisors are recognizing Bitcoin ETFs as a way to enhance portfolio diversification and returns while meeting regulatory standards. With rising client demand and accessible entry points for cryptocurrency investments, Bitcoin ETF adoption is likely to continue. By embracing these products, advisors can offer their clients opportunities for long-term growth and diversification.
BRICS is stepping up its game by setting up its own central bank. This is big news because it means they’re planning to issue their own currency. Sergei Ryabkov, Russia’s Deputy Foreign Minister, made it clear that having their own bank is key to this plan.
What is B R I C S: BRICS refers to certain emerging market countries—Brazil, Russia, India, China, South Africa, and more—that seek to establish deeper ties between member nations and cooperate on economic expansion, including trade.
What with this new ‘Central Bank’?
The BRICS countries have been discussing the creation of their own currency as part of their plan to reduce their dependence on the US dollar. However, this move will not happen overnight as there are some significant issues they need to address first.
According to Ryabkov, the first step towards creating a new currency would be to establish a central bank. This involves more than just printing money; the central bank would be responsible for setting rules and regulations for the currency, including its value and interest rates.
Challenges Ahead:
Expansion Complexity: With BRICS doubling in size due to more countries joining, the process of making significant decisions becomes more complicated. This expansion brings diverse interests and perspectives to the table, making consensus-building challenging.
Timing and Implementation: While there's optimism about moving forward, the timeline for actual implementation remains unclear. Rapid progress is hinted at, but the specifics of when and how to remain vague, posing uncertainty.
Robert Kiyosaki's Concern:
Robert Kiyosaki, author of "Rich Dad, Poor Dad," has been vocal about his concerns regarding a potential economic crash in the US. He warns of rough times ahead and offers advice on how to navigate the impending financial storm. His worries are fueled by the worsening US debt crisis and the potential consequences of BRICS nations moving away from the dollar. Other experts echo similar concerns about the fragile state of the US economy.
Robinhood an investment platform offering trading of stocks, ETFs, cryptocurrency, and options, saw remarkable growth in its first quarter financial performance with a notional crypto trading volume of $36 billion, an increase of 224% from year-ago levels.
This surge in crypto trading resulted in a 232% increase in cryptocurrency-related revenue, worth $126m. In general, the company’s transaction-based revenue grew by 59% year over year, reaching $329 million. On March 31, Robinhood had $26. 2 billion worth of users’ cryptocurrency assets, which represents a 78% rise since the end of 2023.
The trading platform also surpassed analyst expectations for the first quarter. The company stated that its total revenue amounted to $618 million, compared to $552.7 million as expected. EPS was $0. 18, outpacing the consensus estimate of $0. 06 per share. These results caused a 7% hike in the post-market trading of Robinhood shares.
Robinhood received a Wells Notice from the SEC regarding its crypto unit but claims that crypto assets on its platform don't fall under the securities definition. The company reported 23.9M funded customers and $129.6B custody assets, with growth in stock and crypto markets contributing to it. Robinhood's stock had risen almost 40% YTD before the earnings news.
Developer Relations (DevRel) might sound fancy, but it's actually pretty straightforward: it's all about fostering relationships with developers within a company. And in the world of Web3, where blockchain technology reigns supreme, DevRel plays a crucial role in driving innovation and growth.
So, why does it matter so much? Well, think of developers as the creative minds behind the scenes. They're the ones building cool stuff on top of technology platforms. Without them, these platforms wouldn't be nearly as exciting or useful.
DevRel professionals focus on making life easier for developers. They provide resources, answer questions, create guides, and basically make sure developers have everything they need to succeed. Plus, they're the friendly faces who keep developers engaged and excited about what they're working on.
Developer Relations isn't new—it's been around for a while. Take Apple, for instance. They realized that having tons of cool apps is what makes people want their devices. And guess what? Most of those apps are made by outside developers—about 99% of them! This shows just how crucial developers are in the tech world. That's why Developer Relations is so important—it's all about keeping developers happy, supported, and excited to keep creating awesome stuff.
In Web3, where blockchain ecosystems thrive on innovation, DevRel is more important than ever. It's about connecting developers with the tools and support they need to build amazing things on decentralized platforms.
At its core, DevRel is about building bridges between companies and developers. It's about fostering a sense of community and collaboration, where everyone works together to push the boundaries of what's possible with technology.
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Exciting updates from @aadarsh's blog! Bitcoin surpasses 1 billion transactions, financial advisors are turning to Bitcoin ETFs for portfolio diversification, BRICS countries plan to start their own central bank, and Robinhood’s Q1 crypto volume is up 224%. Also, a spotlight on Developer Relations in Web3 jobs.