The Block

Bitcoin rally sustains despite wider market downturn following hotter-than-expected inflation data.

The memecoin’s Shiba Inu mascot will be displayed on Las Vegas’s Sphere for a week, according to a plan by the fundraiser’s organziers.The fundraiser on Wednesday officially surpassed its $650,00 target.

Quick Take The rule was first proposed in November and would give the CFPB the ability to supervise “larger nonbank companies” that have services like digital wallets and payment apps — and potentially crypto. House Republicans accused the CFPB of front running Congress, while Democrats pointed to cryptocurrencies’ volatility over the years.

Quick Take The EU has published draft rules for stablecoin issuers under the bloc’s MiCA regulatory framework.

The price of bitcoin is unlikely to fall below $50,000 unless major events like negative spot bitcoin ETF flows occur, according to Mike Novogratz.Bitcoin is currently in price discovery mode, and it could reach $100,000, said the Galaxy Digital CEO.

Quick Take The Blast network has experienced a stall in block production following Ethereum’s latest upgrade.

Quick Take Ethereum’s Dencun upgrade was activated on the Ethereum mainnet. It has introduced “blobs” to reduce Layer 2 transaction costs.

Crypto investment products have smashed the yearly inflow record after just three months of trading in 2024, adding more than $12 billion globally, according to CoinShares.Inflows of nearly $1.8 billion this week alone were enough to break the prior record of $10.6 billion for all of 2021 — dominated by the success of the new U.S. spot bitcoin ETFs.

A recent downtrend in the NFT market has resulted in a decrease in the floor price for major collections such as Bored Ape Yacht Club and Pudgy Penguins.Activity in Ethereum-based NFT marketplaces has declined on a month-on-month basis, according to data from The Block.

Quick Take Blockaid co-founder Raz Niv discusses common scams and phishing attacks in crypto, and what can be done to avoid them.