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Welcome to the 36th edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/3TSjzFF9ZD1LRmH3CD2WHq?si=jj1W58SaQrqzHV7hRQgalg" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>US Legislators Push SEC for Bitcoin Options Trading Approval</h3>US lawmakers are pressing the SEC to allow Bitcoin options trading, aiming to end discrimination against cryptocurrency funds.&nbsp;Options grant buyers the right to buy or sell assets like Bitcoin at a fixed price by a set date. Flood and Nickel stress SEC approval’s importance for investor protection.&nbsp;The SEC is currently reviewing the impact of Bitcoin options on market stability and surveillance. Meanwhile, the SEC is delaying decisions on applications from major exchanges.&nbsp;Nasdaq, Cboe, and NYSE are seeking approval for Bitcoin options trading. The SEC invites stakeholders to provide feedback by May 15th and rebuttals by May 29th.Read more here:&nbsp;<a href="https://imperialwealth.com/news/us-legislators-push-sec-for-bitcoin-options-trading-approval" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/us-legislators-push-sec-for-bitcoin-options-trading-approval</a><h3>Grayscale’s GBTC Bitcoin Exchange-Traded Fund Bounces Back with First Positive Inflows Since Launch</h3>Grayscale Investments marks a milestone with its first day of positive net inflows for the Grayscale Bitcoin Trust ETF, following four months of consecutive outflows since its transition to a spot Bitcoin ETF.&nbsp;On May 3, GBTC recorded $63 million in inflows, contrasting with $17.5 billion in outflows since the launch of spot Bitcoin ETFs. Franklin Templeton’s Bitcoin ETF saw record inflows, while others also experienced notable increases.&nbsp;The high fees of GBTC, at 1.5%, compared to alternatives, contributed to the outflows, along with selling pressure from bankrupt crypto firms.&nbsp;Investors express varied opinions, anticipating potential shifts in BTC’s trajectory. Exciting developments lie ahead.Read more here:&nbsp;<a href="https://imperialwealth.com/news/grayscales-gbtc-bitcoin-exchange-traded-fund-bounces-back-with-first-positive-inflows-since-launch" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/grayscales-gbtc-bitcoin-exchange-traded-fund-bounces-back-with-first-positive-inflows-since-launch</a><h3>Former Binance CEO Changpeng Zhao Receives Four-Month Prison Sentence</h3>Changpeng Zhao, former CEO of Binance, has been sentenced to four months in prison for violating anti-money laundering regulations.&nbsp;Prior to sentencing, Zhao expressed remorse for his actions and emphasized his efforts to improve compliance at Binance during his tenure.&nbsp;US prosecutors depicted Zhao as negligent, facilitating illegal transactions worth over 100,000. Despite appeals for leniency, prosecutors sought a 36-month prison term, double the federal maximum.&nbsp;Zhao’s supporters highlighted his altruistic endeavors and portrayed him as a committed family man.&nbsp;The case underscores the importance of regulatory compliance in the cryptocurrency industry and the consequences of non-compliance.Read more here:&nbsp;<a href="https://imperialwealth.com/news/former-binance-ceo-changpeng-zhao-receives-four-month-prison-sentence" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/former-binance-ceo-changpeng-zhao-receives-four-month-prison-sentence</a><h3>MicroStrategy Set to Introduce Bitcoin-Backed Decentralised ID Solution</h3>MicroStrategy, a major holder of Bitcoin, plans to launch a decentralised identity solution, MicroStrategy Orange, on the Bitcoin network.&nbsp;This initiative, presented by executive chairman Michael Saylor, aims to provide trustless and secure identities using only the Bitcoin blockchain.&nbsp;The system, comprising Orange Service, SDK, and Applications, enables users to issue and manage decentralized identifiers (DIDs).&nbsp;An example app, “Orange For Outlook,” enhances email security. Despite reporting a $53.1 million net loss for Q1, traditional accounting methods overlook the 65% increase in MicroStrategy’s Bitcoin value, valued at $15.2 billion.&nbsp;The company aspires to expand its applications across various sectors.Read more here:&nbsp;<a href="https://imperialwealth.com/news/microstrategy-set-to-introduce-bitcoin-backed-decentralised-id-solution" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/microstrategy-set-to-introduce-bitcoin-backed-decentralised-id-solution</a><h3>Block, Led by Jack Dorsey, to Allocate 10% of Bitcoin Earnings for Monthly BTC Purchases</h3>Jack Dorsey’s company, Block, will invest 10% of its Bitcoin product gross profit monthly. They’ve held Bitcoin since Q4 2020 and Q1 2021, with 8,038 BTC worth $573 million as of March 31.&nbsp;Q1 2024 saw Block’s Bitcoin gross profit soar by nearly 60% to $80.1 million, while Bitcoin revenue surged 26% to $2.73 billion.&nbsp;Dorsey highlights Bitcoin’s importance for global financial empowerment but notes only a small fraction of resources are allocated to Bitcoin projects.&nbsp;Despite this, Block launched Bitkey Bitcoin wallet and plans a Bitcoin mining system.&nbsp;Dorsey believes the internet will adopt a native currency eventually.Read more here:&nbsp;<a href="https://imperialwealth.com/news/block-led-by-jack-dorsey-to-allocate-10-of-bitcoin-earnings-for-monthly-btc-purchases" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/block-led-by-jack-dorsey-to-allocate-10-of-bitcoin-earnings-for-monthly-btc-purchases</a>Bitcoin Hits 1 Billion TransactionsThe Bitcoin network achieves a significant milestone, processing its billionth transaction after 15 years.&nbsp;<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/06115734/6e4a6c53-e528-4b47-9ac8-7524293e92a6.jpg" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/06115734/6e4a6c53-e528-4b47-9ac8-7524293e92a6.jpg"></a>Transaction number 1,000,000,000 was recorded in block 842,241 on May 5, 15 years and four months after Bitcoin’s launch.&nbsp;Daily average transactions stand at 178,475 over 5,603 days. However, Lightning Network transactions are not included, estimated at 6.6 million in August 2023, suggesting hundreds of millions since 2018.&nbsp;Bitcoin’s daily transactions peaked at 926,000 during its fourth halving in April.&nbsp;The Runes protocol launch drove demand, yet daily transactions fell to 660,260 on May 4.&nbsp;Ethereum has processed over 2 billion transactions since July 2015.&nbsp;Bitcoin’s current price exceeds $64,000.Read more here:&nbsp;<a href="https://imperialwealth.com/news/bitcoin-hits-1-billion-transactions%E2%80%A6" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/bitcoin-hits-1-billion-transactions…</a><h3>MoonPay broadens cryptocurrency choices through PayPal integration</h3>MoonPay expands its cryptocurrency options by integrating PayPal transactions, enabling US users to buy and sell Bitcoin and over 110 other cryptocurrencies via MoonPay.&nbsp;CEO Ivan Soto-Wright highlights the partnership’s significance, emphasizing its superiority over platforms limited to Ether or PayPal USD. The integration aims to improve conversion rates, leveraging PayPal’s broader acceptance compared to traditional banks.&nbsp;Established in 2019, MoonPay facilitates fiat-to-crypto transactions through various payment methods.&nbsp;Supported by Tiger Global, MoonPay collaborates with industry giants like Mastercard and BinanceUS.&nbsp;The PayPal integration initially targets MoonPay’s direct-to-consumer products, with plans for wider adoption among partners and expansion into UK and EU markets.Read more here:&nbsp;<a href="https://imperialwealth.com/news/moonpay-broadens-cryptocurrency-choices-through-paypal-integration" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/moonpay-broadens-cryptocurrency-choices-through-paypal-integration</a><h3>Vodafone Explore Integration of Cryptocurrency Wallets With Sim Cards</h3>Vodafone, a UK-based telecom provider, plans to integrate blockchain into smartphones via SIM cards with cryptocurrency wallets.&nbsp;This aligns with Vodafone Idea’s financial strategy, involving significant debt and stakeholding. David Palmer, Vodafone’s Blockchain Lead, anticipates over 20 billion phones by 2030, with 8 billion being smartphones. He predicts 5.6 billion crypto wallets by then.&nbsp;Meanwhile, Vodafone pursues partnerships like the 10-year Microsoft alliance for AI services, highlighted by CEO Satya Nadella.&nbsp;This trend isn’t new; in 2019, VaultTel aimed to merge mobile tech with blockchain via physical wallets.&nbsp;Read more here:<a href="https://t.co/NsYYtm2cFF" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/vodafone-explore-integration-of-cryptocurrency-wallets-with-sim-cards…</a><h3>Cryptocurrency Venture Capital Funding Reaches $1 Billion for Second Consecutive Month</h3>Cryptocurrency venture capital funding surpassed $1 billion for the second consecutive month in April, totalling $1.02 billion across 161 investment rounds, slightly down from March’s $1.09 billion.&nbsp;Notable raises included BlackRock’s $47 million investment in Securitize and Monad’s $225 million backed by Paradigm and Coinbase Ventures.&nbsp;Blockchain infrastructure startups received the most funding in 2024 at $1.7 billion, while decentralised finance protocols secured $626 million.&nbsp;Despite a pullback, the industry saw over $3.67 billion invested across 604 rounds, inching closer to 2023’s $9.3 billion. Pantera Capital and Paradigm aim to raise $1 billion and $850 million respectively.Read more here:<a href="https://t.co/DpEBDJzg0z" rel="noopener noreferrer" target="_blank">&nbsp;https://imperialwealth.com/news/cryptocurrency-venture-capital-funding-reaches-1-billion-for-second-consecutive-month…</a><h2>Technical Analysis</h2>So much has happened this week!To summarise:<ul><li>Bitcoin was at $63.2k after putting in a triple bottom</li><li>To round out the month of April, and all its bearish fundamentals (war fears, TGA, TPs, outflows of ETFs, blah blah), we had one last dip into the $57-$59k liquidity zone that sat under range lows</li><li>We dipped as low as $56.3k, spending about 24 hours consolidating in between mainly $57k and $59k, before reclaiming prior range lows and sending it back into our range</li><li>Since, we have reclaimed $61k and bullish price action has ensued, with BTC recently reaching as high as mid $65k’s, before filling a CME gap that was produced via weekend price action, and now we trade just south of $64k</li></ul>In last weeks chronicle I stated:“….There are two serious areas of liquidity on either side of this range now:To the downside, you can see our triple bottom formed around $60k, with our utmost range low yet to be tested/grabbed. I am not ruling out if we see a few more bearish days/weeks that this area can’t be visited. This would hit a HUGE liquidity zone around $57,000-$59,000/USD which would mark a new range low, take out all liquidity to the long side, and could present a very bullish reversal. I would be buying here and dollar-cost-averaging (DCAing) if so. I would also trigger some short term trades/leverage plays with strict invalidation (stop losses) below this level…”This is exactly what has happened since we last spoke.We have taken out range lows, grabbed all of that liquidity, and had a very bullish reversal.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07151253/BTCUSD.P_2024-05-07_15-12-42_04fe4.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07151253/BTCUSD.P_2024-05-07_15-12-42_04fe4.png"></a>This was the exact same chart shown in last weeks Chronicle.I am hoping for bullish continuation into next week.My sights are on reclaiming $67k first, then all-time-highs from there.It’s important to note we are currently playing out the Fractal I have provided in the past.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150827/BTCUSD.P_2024-05-07_15-08-06_681b3.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150827/BTCUSD.P_2024-05-07_15-08-06_681b3.png"></a>Even more important we hit the exact level of interest I have been sending out for 2-3 months.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150729/BTCUSD.P_2024-05-07_15-07-20_f9b21.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/05/07150729/BTCUSD.P_2024-05-07_15-07-20_f9b21.png"></a>Any further major levels hit below, I trade!Any dips, I will eat!The trading academy got some buys out, short term trades, and I want to quickly run back over what that service now entails:<ul><li>SHORTER TERM TRADES (NO LEV)</li><li>SHORT TERM LONGS (LEV)</li><li>SHORT/LONG TERM SHORTS (HEDGING)</li><li>VIDEO CONTENT/LIVESTREAMING</li><li>RESEARCH REPORTS</li></ul>These are huge new additional features that have been added to our premier Cryptocurrency service.If this interests you,&nbsp;<a href="https://imperialwealth.com/consultation/crypto" rel="noopener noreferrer" target="_blank">feel free to book a free online consultation here!</a>Or shoot Taylor or I a message on Discord!<h2>Cryptocurrency Mining</h2>Btc has seen a drop back in hashrate which was expected, the average now sits at 614eh but the live rate is as low as we have seen since pre March at 518eh.&nbsp;This is the drop we were waiting for. Difficulty is set to drop by 5%, 2 days out from an adjustment which is welcome relief.&nbsp;Block fees are still varying, we saw a brief run up to 0.8btc per block additional which was over the weekend, now has dropped back to 0.3-0.4Btc.&nbsp;Around the networks:Doge and LTC has seen some significant drops in difficulty, ranging from 10-18% in the past 7 days with a Doge 8% jump in price which gives increased profitability.&nbsp;Kaspa remains consistent with a 4% jump this week in difficulty.&nbsp;CKB was the big mover with a 37% drop in difficulty.&nbsp;Dash has seen a 20% jump in difficulty due to more D9s becoming available.

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Crypto Chronicle - 07/05/24

<h1>How to Buy Coq Inu (COQ): A Step-by-Step Guide</h1><h2>Key Takeaways</h2><ul><li>Buying Guide: Follow our five-step guide to purchase COQ easily and safely.</li><li>Introduction to Coq Inu (COQ): Understand what COQ is and how it works.</li><li>Platform Overview: Discover why Coinstash is the best place to buy COQ in Australia.</li></ul> When it comes to buying cryptocurrencies like Coq Inu (COQ) in Australia, it's important that you use a secure exchange platform. As one of Australia's most trusted cryptocurrency exchanges, Coinstash makes it safe and simple to buy, sell and trade COQ. Here’s a step-by-step guide on how to buy COQ through our platform.<h2>How to Buy Coq Inu (COQ) in Five Simple Steps</h2>1) Create Your Free Coinstash Account:To get started with Coinstash and buy COQ, simply <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">sign up</a> to create your account. It’s free and only takes a few minutes to complete!2) Verify Your Identity: After creating your account, you will then need to verify your identity. This process is crucial to comply with Australian regulations and ensure a safe trading environment. Identity verification typically takes just a few minutes, and you will be notified once your identity is successfully verified.3) Add Funds To Your Account: You can easily add funds to your account using one of our various deposit methods, including bank transfers and Pay ID. For immediate funding, we recommend using Pay ID services for instant deposits.4) Enter the Amount You Want to Buy:On the Coinstash app or website, type "Coq Inu" into the search bar and select <a href="https://coinstash.com.au/coq/buy" rel="noopener noreferrer" target="_blank">COQ</a>. Then, using the number pad, input the amount of COQ you wish to purchase in AUD. Alternatively, you can use the arrow buttons to toggle and enter the equivalent amount of COQ you'd like to buy.5) Finalise Your Purchase of COQ:When you’re ready to buy, tap the ‘Preview Buy’ button. This will show you the details of your purchase, including the trade fee. Once you’re happy everything looks good, swipe on the ‘Buy Now’ button to complete your purchase. That’s it, it’s that simple!<h2>Alternative Ways to Trade Coq Inu (COQ)&nbsp;</h2><h3>Convert Crypto to COQ Token with Coinstash Swaps</h3>Coinstash also allows you to swap other cryptocurrencies to buy COQ. Here’s a simple three-step guide to swap other cryptocurrencies for COQ:1) Log In and Select Swap: Access your Coinstash account, choose the cryptocurrency you want to swap from in your portfolio, then navigate to the 'Swap' section on the dashboard.2) Choose COQ as Your Target Currency: In the swap interface, select COQ as the cryptocurrency you want to acquire. This will set up your transaction to convert your chosen cryptocurrency into COQ.3) Confirm and Execute the Swap: Enter the amount of cryptocurrency you wish to swap, review the transaction details including any trade fees, and then confirm the swap. Your new COQ holdings will be updated in your Coinstash account almost instantly upon completion of the transaction.<h2>Coq Inu (COQ) Overview</h2><h3>What is Coq Inu (COQ)?</h3>Coq Inu (COQ) is a meme coin themed after a rooster, taking its name from the French word "Coq." It was launched on the Avalanche blockchain on December 7, 2023. Since its launch, COQ has significantly increased in value and gained prominence as one of the leading meme coins in 2024, capturing the interest of the cryptocurrency community.<h3>How Does Coq Inu (COQ) Work?</h3>Coq Inu (COQ) operates on the Avalanche C-Chain and has rapidly become a prominent meme coin in this ecosystem. Unlike other cryptocurrencies developed to solve specific financial or technological issues, Coq Inu is created solely for its meme appeal and does not have functional utility or intrinsic value.<h2>Why is Coinstash the Best Platform to Buy Coq Inu (COQ)?</h2>Safe. Compliant. Trusted: Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. We are 100% Australian, owned, operated, and AUSTRAC registered. Our <a href="https://coinstash.com.au/security" rel="noopener noreferrer" target="_blank">industry-leading security</a> practices provide the highest level of protection, with all assets fully backed 1:1.User-Friendly: Coinstash's intuitive and user-friendly interface simplifies investing and trading, regardless of your experience level. Once you're registered, buying your first cryptocurrency is just a few taps away.Low Fees:Coinstash offers some of the lowest trading rates in Australia for thousands of assets, allowing you to buy, sell, and swap COQ at minimal cost.Expert Customer Support: With our experienced locally-based customer support team available to address any questions or concerns, you'll never be left in the dark.&nbsp;<h2>Buy Coq Inu (COQ) with Coinstash</h2>If you're ready to take the next step and purchase COQ, then get started with Coinstash today!

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<h2>Frequently Asked Questions</h2>

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Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

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Follow these steps to buy COQ on Coinstash easily and securely.

How to Buy COQ on Coinstash

Create Your Free Coinstash Account

To get started, sign up for a free Coinstash account. It only takes a few minutes.

Verify Your Identity

After creating your account, verify your identity to comply with regulations.

Add Funds to Your Account

Choose a deposit method and add funds to your Coinstash account.

Enter the Amount You Want to Buy

Search for COQ on the Coinstash app or website and input the desired amount in AUD.

Finalize Your Purchase of COQ

Review your purchase details, including trade fees, and complete the transaction.

How To Buy Coq Inu (COQ) in Australia 

<h1>Coq Inu (COQ): The Trending Avalanche Meme Coin of 2024</h1><h2>Key Takeaways</h2><ul><li>Coq Inu (COQ) is a rooster themed meme coin that launched on the Avalanche blockchain in December 2023.</li><li>It has a total supply of 69.420 trillion tokens, with no presale or fixed allocations for investors.&nbsp;</li><li>Like most meme coins, COQ has no utility beyond its status as a meme, and is a purely speculative asset.</li></ul><h2>What Is Coq Inu (COQ)?</h2>Coq Inu (COQ) is a meme coin, designed around the theme of a rooster and named after the French word for rooster, "Coq." Launched on the Avalanche blockchain on December 7, 2023, it has since surged in value, emerging as one of the most prominent meme coins in 2024, captivating the attention of the cryptocurrency community.&nbsp;<h2>How Does Coq Inu (COQ) Work?</h2>Coq Inu (COQ) runs on the Avalanche C-Chain and has quickly risen to prominence as one of the leading meme coins in this ecosystem. Unlike many cryptocurrencies that are developed to address specific financial or technological challenges, Coq Inu is designed purely for its meme appeal, lacking functional utility or intrinsic value.&nbsp;COQ is uniquely community-driven, with no allocations for founders, no presales, and imposed taxes. The team has committed to a decentralised vision by fully renouncing control over its contract and locking its liquidity permanently, ensuring fairness and transparency in its operations.<h3>Coq Inu (COQ) Tokenomics&nbsp;</h3>Like many meme coins, COQ’s tokenomics feature a playful nod to popular numeric jokes, with a fixed total supply of approximately 69.42 trillion coins. These tokens were made fully available at the time of launch, with no presale or pre-allocations to investors.&nbsp;<h2>Why is Coq Inu (COQ) so Popular?</h2>COQ has surged in popularity primarily due to its engaging and viral nature, a hallmark of meme-driven cryptocurrencies. Drawing inspiration from a French rooster and the Japanese word 'Inu', meaning dog, COQ plays into the successful trend set by other dog-themed meme coins like <a href="https://coinstash.com.au/shib/buy" rel="noopener noreferrer" target="_blank">Shiba Inu</a>. These coins capture the fascination of enthusiastic online communities and often offer a low cost of entry, making them particularly attractive despite their volatile and speculative nature.&nbsp;COQ’s launch in late 2023 was well-timed, coinciding with a bullish turn in the crypto market. This timing, combined with a surge in value shortly after its release, fueled extensive media coverage and social media buzz. Stories of traders turning modest investments into significant gains further fueled interest, propelling the token's price upward. The ongoing attention and discussion surrounding COQ by influential crypto personalities have kept it in the spotlight, sustaining its popularity well beyond its initial surge.<h2>How to Buy COQ Inu (COQ) With Coinstash</h2>Buying <a href="https://coinstash.com.au/coq/buy" rel="noopener noreferrer" target="_blank">COQ</a> with Coinstash is easy and safe. Simply <a href="https://coinstash.com.au/auth/signup" rel="noopener noreferrer" target="_blank">create your Coinstash account</a> for free and verify your personal details in just a few minutes.&nbsp;Once registered, log into your account, deposit funds using one of our various deposit methods, and then you're ready to make your first COQ purchase.<h2>Should You Buy Coq Inu (COQ)?</h2>COQ has quickly become a prominent meme coin within the Avalanche (AVAX) ecosystem, experiencing a price increase of over 6,000% in just a few months. This remarkable growth underscores its popularity in the crypto space. However, it’s crucial to recognise that COQ is a highly speculative asset with no inherent value.The appeal of meme coins like COQ often comes from their potential for high returns, but these assets are also prone to significant volatile price fluctuations. While the possibility of substantial profits can be attractive, the risk of sudden financial losses is equally real. Investors should approach meme coins with caution, only investing what they are willing to lose.&nbsp;<h2>Closing Thoughts</h2>As the cryptocurrency landscape continues to evolve, meme coins like Coq Inu will remain a fascinating phenomenon to watch. While they offer an interesting blend of humor and investment potential, it's crucial for investors to approach these assets with caution and conduct thorough research before participating in the meme coin market. <h2>Frequently Asked Questions</h2>

What is Coq Inu (COQ) Meme Coin?

Welcome to the 32nd edition of the Crypto Chronicle, brought to you by <a href="https://imperialwealth.com/consultation/crypto/coinstash" rel="noopener noreferrer" target="_blank">Imperial Wealth</a>.You can listen to todays episode <a href="https://open.spotify.com/episode/1vGtZBZipyFFoXmfZzjDdd?si=hBo9YcFXRHKoyRlkzQMmYw" rel="noopener noreferrer" target="_blank">here</a><a href="https://open.spotify.com/episode/0b39ruuit7QjyYV999i7xq?si=xHOfeQv-TH6UV2Y0Zg4oag" rel="noopener noreferrer" target="_blank">.</a><h2>News</h2><h3>March Sees Spot Bitcoin ETF Trading Volume Surge to $111 Billion</h3>In March, spot Bitcoin exchange-traded funds (ETFs) witnessed a remarkable surge in trading volume, reaching $111 billion, nearly tripling the volume from February, with Grayscale and BlackRock ETFs leading the market.&nbsp;BlackRock’s Bitcoin ETF, IBIT, remained dominant in trading volume, while Grayscale’s GBTC and Fidelity’s FBTC closely followed.&nbsp;Bloomberg ETF analyst Eric Balchunas highlighted IBIT’s increasing dominance over GBTC in market share. However, despite profitable hits, IBIT’s lead in volume solidified its position as the “GLD of Bitcoin.”&nbsp;On April 1, Farside Investors reported cumulative net outflows of $86 million for spot Bitcoin ETFs, with IBIT experiencing inflows of $165.9 million, overshadowed by Grayscale’s $302.6 million outflows. Additionally, Fidelity’s FBTC saw significant inflows of $44 million on the same day.&nbsp;Despite these trends, Grayscale’s GBTC has faced substantial outflows, with assets under management declining by 46% to $22 billion according to Coinglass data.Read more here:&nbsp;<a href="https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/march-sees-spot-bitcoin-etf-trading-volume-surge-to-111-billion</a><h3>DOJ Transfers $2 Billion in Seized Silk Road Bitcoin to New Wallet</h3>Around $2 billion worth of Bitcoin, seized by the US authorities from the Silk Road marketplace, was recently moved to a new address.&nbsp;Associated with the US Justice Department, the wallet performed a transaction of 0.001 BTC to a Coinbase Prime address before transferring 30,174 BTC to the new location.&nbsp;These coins were seized from James Zhong, convicted for his involvement in Silk Road’s illicit activities. In March 2023, US authorities sold approximately 9,861 BTC for $215 million, leaving about 40,000 BTC.&nbsp;This transfer coincided with a 7% drop in Bitcoin’s value.&nbsp;The Silk Road platform, notorious for illegal trade, led to the imprisonment of its founder, Ross Ulbricht, in 2013.&nbsp;The strategy for selling the remaining BTC remains undisclosed.Read more here:&nbsp;<a href="https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/doj-transfers-2-billion-in-seized-silk-road-bitcoin-to-new-wallet</a><h3>Morgan Stanley Aims to Outpace UBS in the Race to Become the Premier Bitcoin ETF Provide</h3>The emergence of spot Bitcoin exchange-traded funds (ETFs) in the US has sparked competition among investment banks, with Morgan Stanley aiming to lead ahead of UBS.&nbsp;Crypto enthusiast Andrew reported that Morgan Stanley may announce Bitcoin ETF approval soon.&nbsp;Eric Balchunas from Bloomberg noted neither Morgan Stanley nor UBS has integrated Bitcoin ETFs yet.&nbsp;Both banks seem to wait for the other to act first. Andrew mentioned UBS plans to introduce Bitcoin ETFs between April 8 and April 12.&nbsp;This speculation follows reports of Morgan Stanley’s impending approval of Bitcoin ETFs. Despite hurdles, traditional finance (TradFi) appears to embrace Bitcoin.Read more here:&nbsp;<a href="https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/https-imperialwealth-com-news-morgan-stanley-aims-to-outpace-ubs-in-the-race-to-become-the-premier-bitcoin-etf-provide</a><h3>Ripple Set to Introduce Stablecoin Tied to US Dollar, Targeting Competition Against USDT and USDC</h3>Ripple plans to introduce a USD-backed stablecoin to compete with Circle and Tether, aiming to tap into the growing market projected to exceed $2 trillion by 2028.&nbsp;Chief Technology Officer David Schwartz disclosed the stablecoin’s issuance on the XRP Ledger and Ethereum blockchain, emphasising transparency in asset backing and regulatory compliance, echoing USDC’s approach.&nbsp;Schwartz highlighted Ripple’s intention to prioritise market share over risky manoeuvres.&nbsp;Auditing of reserve assets will be performed monthly. Leveraging its credibility, Ripple aims to establish a significant presence in the stablecoin sector.&nbsp;The stablecoin complements Ripple’s existing offerings, enhancing liquidity and capitalising on market opportunities.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ripple-set-to-introduce-stablecoin-tied-to-us-dollar-targeting-competition-against-usdt-and-usdc</a><h3>CEO of Australian Monochrome Anticipates the Launch of an Australian Spot Bitcoin ETF Within the Next Two Months</h3>Monochrome, an Australian asset manager, plans to launch its primary spot Bitcoin ETF on Cboe Australia after filing in July 2023.&nbsp;If approved, it would be Australia’s first ETF to directly hold Bitcoin. While two existing ETPs on Cboe Australia offer exposure to spot crypto assets, they don’t hold Bitcoin.&nbsp;Monochrome gained ASIC approval and expects Cboe to approve its application by June. Initially slated for ASX, Monochrome CEO Jeff Yew believes Cboe aligns better with their goals.&nbsp;The move follows the U.S. SEC’s approval of 11 spot BTC ETFs, sparking global interest in similar products.Read more here:&nbsp;<a href="https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/ceo-of-australian-monochrome-anticipates-the-launch-of-an-australian-spot-bitcoin-etf-within-the-next-two-months</a><h3>BlackRock Enhances Bitcoin ETF with Addition of Five Wall Street Firms</h3>BlackRock updated its Bitcoin ETF prospectus on April 5, adding five major Wall Street firms as authorized participants.&nbsp;These include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities.&nbsp;The Securities and Exchange Commission’s stance on cash creation and redemption aims to curb market manipulation risks. This mechanism, adopted by BlackRock and others, allows ETF shares to be created or redeemed solely through cash transactions, deviating from the traditional in-kind model.&nbsp;The move seeks to prevent intraday price manipulation and aligns with recommendations from industry leaders like Hashdex.&nbsp;Despite a surge in March trading volume to $111 billion, some reports suggest cooling demand for Bitcoin ETFs. BlackRock’s iShares Bitcoin Trust remains dominant in both trading volume and assets under management, followed by Grayscale and Fidelity’s funds. As of April 1, BlackRock’s IBIT assets totalled $17.6 billion.Read more here:&nbsp;<a href="https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/blackrock-enhances-bitcoin-etf-with-addition-of-five-wall-street-firms</a><h3>SEC Case Finds Terraform Labs and Do Kwon Guilty of Fraud</h3>A jury found Terraform Labs and co-founder Do Kwon liable for defrauding investors in a civil case with the SEC.&nbsp;The verdict, announced by SEC Enforcement Director Gurbir Grewal on April 5, held them accountable for deceiving investors about the stability of Terra USD and the platform’s payment application.&nbsp;The SEC trial began on March 25, with Kwon absent due to his stay in Montenegro. The jury also found Terraform guilty on six charges, describing its conduct as “reckless.”&nbsp;The outcome may impact crypto firms.&nbsp;Meanwhile, Kwon’s extradition remains uncertain following a decision by Montenegro’s Supreme Court, facing criminal charges in both the U.S. and South Korea.Read more here:&nbsp;<a href="https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/sec-case-finds-terraform-labs-and-do-kwon-guilty-of-fraud</a><h3>In March, Binance’s Trading Volumes Peak for the Year, Reaching $1.12 Trillion</h3>Binance’s spot trading volume surged to its highest level since May 2021, hitting $1.12 trillion in March, with a 121% rise reported by CCData.&nbsp;The exchange’s combined market share reached 44.1%, up 1.04% from the previous month. CCData highlighted Binance’s recovery post a $4.3 billion settlement with the US DOJ, noting an 89.7% spike in derivatives trading to $2.91 trillion.&nbsp;Binance’s dominance in spot markets increased by 2.3%, reaching 38.0% of spot trading volumes on centralized exchanges (CEXs).&nbsp;The overall trading volume on CEXs surged by 92.9% to $9.12 trillion, with cryptocurrency derivatives reaching $6.18 trillion.&nbsp;This surge coincided with Bitcoin’s rally towards new all-time highs, reflecting growing investor interest despite regulatory challenges and setbacks faced by exchanges like FTX.Read more here:&nbsp;<a href="https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion" rel="noopener noreferrer" target="_blank">https://imperialwealth.com/news/in-march-binances-trading-volumes-peak-for-the-year-reaching-1-12-trillion</a><h2>Technical Analysis</h2>Last week when the Chronicle was released saw a dump from $69k to $66k with important points stressed.The main being – that $65k was our most integral line of support until far lower (&lt; $59k).“In any case, the first level of support that interests me is still the Golden Pocket at $65,000/USD.Under that comes $59k and then $48-$50k as shown in prior weeks.”It is that exact structural level we found support/demand and have bounced from just briefly below $65k, and have pumped to as high as almost $73k overnight.A reminder of this chart here:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/02163229/BTCUSD.P_2024-04-02_17-32-17_9ac65.png"></a>And now the updated.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165110/BTCUSD.P_2024-04-09_16-50-56_855f4.png"></a>Picture perfect, huh? Pays to do the analysis.Also pays to have conviction in the TA, whilst understanding that most of the market become scared at support, expect lower, and usually the opposite happens.As a result, were able to grab two buys in the market last week for the&nbsp;<a href="https://imperialwealth.com/crypto/trading/trading-academy" rel="noopener noreferrer" target="_blank">Trading Academy.&nbsp;</a>We now seek higher targets for now. A break below $65k would present bearishness, but for now, I have my eyes set on ATHs, $75-$77k and $82k.Please see the chart below:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09170542/BTCUSD.P_2024-04-09_17-05-31_cde74.png"></a>Let’s wait and see! For now we are rejecting under the daily candle highs.I would like to see $69.3k hold for now, but I am expecting higher targets to come, including Fresh All Time Highs.That $69.3k support is the range golden pocket – and obviously represents our prior 2021 ATH.If this is a bullish move, if we retrace to that level, I want it to hold – $66-$67k should be support under that if its lost.Irrespective, as a result of recent bullish movements… Our Day Traders continue to kill it.Here is an excerpt from our&nbsp;<a href="https://imperialwealth.com/crypto/trading-education/crypto-day-trading-course" rel="noopener noreferrer" target="_blank">Day Trading Course</a>&nbsp;Discord:<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09165931/Screenshot-2024-04-09-165846.png"></a>That is the conviction you require against the rest of the market to nail it.<a href="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png" rel="noopener noreferrer" target="_blank"><img src="https://d3vyioym9096bm.cloudfront.net/uploads/2024/04/09171730/Screenshot-2024-04-09-171709.png"></a>And our students nailed it!<h2>Cryptocurrency Mining</h2>Bitcoin continues to improve its hashrate sitting at 646EH with block rewards sitting at around 6.5 on average leading into the halving.We are seeing a stabilisation of metrics which is common leading into the halving as people are sitting firm and deployment delays across the industry due to machine manufacturer delays.We did a small drop in network difficulty which has been welcome.Around the grounds:Doge continues to see a drop in hashrate which saw a 14% drop.Along with LTC doing a smaller 6% drop seeing the Scrypt algo getting some nice rewards. This has seen L7s shoot to above $10,000 for new machines.Kaspa continues to rise in difficulty and hashrate due to the new KS5 and newer machines from Iceriver etc. Seeing a 5% jump in hashrate.Dash remains stable with a smaller drop of 4% in network hashrate.CKB is the standout with a 75% price jump with minimal drop in hash or rise.That’s it for this weeks edition, stay tuned for next weeks!Thanks!

Crypto Chronicle - 10/04/24

<h1>NEXA Trading Competition</h1>Coinstash is excited to announce a new NEXA trading competition.Simply trade A$250 in NEXA tokens to be entered into a draw for a chance to win up to $5,000 USDT.&nbsp;Increase your chances of winning: get one ticket per A$250 traded, and five tickets for every A$1,000.Campaign Period: 2 May 2024, 12:30 AEST – 15 May 2024, 23:59 AEST<h2>How to participate:</h2><ol><li>Sign up or sign in to <a href="https://coinstash.com.au/auth/signin" rel="noopener noreferrer" target="_blank">Coinstash</a>.</li><li>Buy, sell or trade at least A$250 worth of <a href="https://coinstash.com.au/nexa/buy" rel="noopener noreferrer" target="_blank">NEXA</a>.</li><li>Enter the draw and stand a chance to win up to $5,000 USDT.</li></ol>Total Reward Pool: $5,000 USDTThree lucky winners will be chosen through a random draw using a number generator. Each will receive a share of the $5,000 USDT reward pool, allocated according to the prize distribution table provided below:

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<h2>Terms and Conditions</h2>Promotion Terms and Conditions can be found <a href="https://help.coinstash.com.au/en/article/nexa-trading-competition-2024-18zfrhk/?bust=1714522995989" rel="noopener noreferrer" target="_blank">here</a>.

Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.

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