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Coinbase BytesThe original cryptocurrency is attracting a flurry of develop=
er=20
activity.View in browser=20
<https://links.coinbase.com/e/evib?_t=3D3aca56371967418192255878e9689713&_m=
=3D8204095b56454415a26c6bfe53214837&_e=3DPTBG38r953pfefu-5ERUjZyyxkdXKEin2I=
lqY4S5CIuAz6vvGcbtf1b3V4euxRMoBtJN8By_uawt2q5OdTnIsQ%3D%3D>

 Don't invest unless you're prepared to lose all the money you invest. This=
 is=20
a high-risk investment and you should not expect to be protected if somethi=
ng=20
goes wrong.Take 2 mins to learn more <https://www.coinbase.com/uk-fca-info>=
.=20
 <https://coinbase.com>
25/04/2024
 <https://www.coinbase.com>
Bitcoin=E2=80=99s fourth-ever halving took place last Friday, cutting the n=
etwork=E2=80=99s=20
block reward from 6.25 BTC to 3.125 BTC.

What=E2=80=99s up? It=E2=80=99s Coinbase Bytes=20

There=E2=80=99s never a dull moment on the blockchain. Here=E2=80=99s what =
you need to know=20
this week:

 * Key crypto headlines in focus. How the halving, a significant BTC metric=
,=20
and a new U.S. stablecoin bill are shaping crypto markets.
 * Bitcoin=E2=80=99s emerging wave of crypto projects. Developers are incre=
asingly=20
building on top of the original blockchain in unexpected ways.
 * This week in numbers. The price tag for a =E2=80=9Cphygital=E2=80=9D Lou=
is Vuitton jacket=20
designed by Pharrell, BlackRock=E2=80=99s impressive bitcoin ETF streak, an=
d more stats=20
to know.







 Bitcoin=20
 -0.45%  <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20




 Ethereum=20
 +1.46%  <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20





 Solana=20
 +4.97%  <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20




 XRP=20
 +3.85%  <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20





 Dogecoin=20
 -0.39%  <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20




 Cardano=20
 +2.79%  <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20





 Bitcoin=20
 -0.45%  <https://coinbase.com/price/bitcoin?bytes_title=3Dbitcoin>=20




 Ethereum=20
 +1.46%  <https://coinbase.com/price/ethereum?bytes_title=3Dethereum>=20




 Solana=20
 +4.97%  <https://coinbase.com/price/solana?bytes_title=3Dsolana>=20





 XRP=20
 +3.85%  <https://coinbase.com/price/xrp?bytes_title=3Dxrp>=20




 Dogecoin=20
 -0.39%  <https://coinbase.com/price/dogecoin?bytes_title=3Ddogecoin>=20




 Cardano=20
 +2.79%  <https://coinbase.com/price/cardano?bytes_title=3Dcardano>=20
 Past performance is no guarantee of future results. Price changes are for =
the=20
past week, ending on Apr 25, 2024 at 02:39 PM UTC
See the latest prices <https://www.coinbase.com/>



 MARKET BYTES=20

Bitcoin has seesawed since the halving. What=E2=80=99s next?=20

After months of anticipation, the Bitcoin network completed its fourth-ever=
=20
halving=20
<https://decrypt.co/227458/bitcoin-price-reclaims-66000-ethereum-sees-modes=
t-gains-after-btc-halving>
on Friday.

Prices fell from more than $70,000 in the days before the event to below=20
$60,000 over the weekend as some traders seemingly took advantage of a =E2=
=80=9Csell=20
the news=E2=80=9D strategy =E2=80=94 much as they did after spot BTC ETFs b=
egan trading in=20
January. At the beginning of this week, BTC briefly climbed back to $67,000=
,=20
but fell near $64,000 by Wednesday morning.

Here are other headlines to know this week.

Where prices could go post-halving=20

In the months following each of the previous halvings, crypto markets have=
=20
seen gains =E2=80=94 although thescale of those gains moderated=20
<https://www.coinbase.com/bytes/archive/bitcoin-halving-basics-to-know#:~:t=
ext=3DWhat%20happened%20in%20previous%20halvings%3F>
 after the first halving.

JPMorgan has predicted that prices could fall=20
<https://finance.yahoo.com/news/prepare-bitcoin-fall-long-awaited-020045186=
.html>
 in the wake of the halving, and some evenseemed surprised=20
<https://www.youtube.com/watch?v=3D5juncHAwNmM> that BTC prices jumped in t=
he=20
days immediately following the event.

Meanwhile, billionaire investor Mark Cuban declined to predict what impact =
the=20
halving could have on prices, butsuggested=20
<https://www.theblock.co/post/289928/billionaire-mark-cuban-weighs-in-on-th=
e-bitcoin-halving>
 that the loss in revenue for miners could drive some topivot=20
<https://www.coinbase.com/bytes/archive/why-btc-is-dipping-before-the-halvi=
ng#:~:text=3DBTC%20mining%20has%20a%20new%20rival%20in%20artificial%20intel=
ligence.>
 to AI.

Generally, analysts say that the halving effect will fully emerge over the=
=20
coming weeks and months.

Keep in mind=E2=80=A6 Short-term swings are expected by many crypto traders=
, which is=20
why BTCHODLers=20
<https://www.coinbase.com/learn/tip-and-tutorials/crypto-slang-guide> take =
a=20
longer view. As MicroStrategy CEO Michael Saylor =E2=80=94 whose firmowns=
=20
<https://www.bloomberg.com/news/articles/2024-03-19/microstrategy-owns-abou=
t-1-of-all-bitcoin-with-latest-purchase-mstr?sref=3DaInCMkkj>
 more than $14 billion in BTC =E2=80=94 recentlyput it=20
<https://decrypt.co/225138/why-does-bitcoin-crash-after-halving>, =E2=80=9C=
If you're=20
going to invest in bitcoin, a short time horizon is four years =E2=80=A6 no=
 one has=20
ever lost money holding bitcoin for four years.=E2=80=9D

Senators propose new stablecoin rules

Last week, senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY),=20
introduced a bill=20
<https://www.gillibrand.senate.gov/wp-content/uploads/2024/04/LIP24254.pdf>=
=20
that would regulate firms that issuestablecoins=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-stablecoin>.=20
(Stablecoins are cryptocurrencies that are designed to avoid volatility by=
=20
having their value pegged to a reserve asset, most commonly the U.S. dollar=
.)

Among other stipulations, the bill would require=20
<https://www.coindesk.com/policy/2024/04/17/us-senators-lummis-gillibrand-t=
ake-on-stablecoin-legislation-with-new-bill/>
 stablecoin issuers to maintain 1:1 reserve ratios (by essentially holding =
a=20
dollar for every stablecoin issued) and would prohibit =E2=80=9Calgorithmic=
=E2=80=9D=20
stablecoins, which use smart contracts to automatically make trades designe=
d to=20
keep the value of the token consistent.

Reading between the lines=E2=80=A6 Per the sponsors, the bill is designed t=
o kickstart=20
conversations on Capitol Hill. =E2=80=9CWe're glad we went ahead and put it=
 out just to=20
get some good feedback,=E2=80=9D Lummis said. =E2=80=9CWe're happy to adjus=
t it.=E2=80=9D

A key BTC metric approaches all-time high

One indicator that professional crypto traders use to predict how markets=
=20
might behave in the future is the200-day simple moving average=20
<https://www.investopedia.com/ask/answers/013015/why-200-simple-moving-aver=
age-sma-so-common-traders-and-analysts.asp#:~:text=3DThe%20200%2Dday%20simp=
le%20moving%20average%20(SMA)%20is%20considered,chart%20and%20other%20movin=
g%20averages.>
 (SMA), which is considered a way of gauging longer-term trends.

As of Tuesday, it was approaching=20
<https://www.coindesk.com/markets/2024/04/23/bitcoins-200-day-average-is-ap=
proaching-a-record-high-heres-why-it-matters/#:~:text=3DBitcoin's%20200%2Dd=
ay%20average%20is%20on%20track%20to%20challenge%20its,average%20surpasses%2=
0its%20previous%20peak>
 $48,000 =E2=80=94 just short of the all-time high of $49,452 set in Februa=
ry 2022.

Why that might be important=E2=80=A6 =E2=80=9CPast data show the most inten=
se phase of the=20
bull cycle unfolds after this average surpasses its previous peak,=E2=80=9D=
 according to
CoinDesk=20
<https://www.coindesk.com/markets/2024/04/23/bitcoins-200-day-average-is-ap=
proaching-a-record-high-heres-why-it-matters/#:~:text=3DBitcoin's%20200%2Dd=
ay%20average%20is%20on%20track%20to%20challenge%20its,average%20surpasses%2=
0its%20previous%20peak>
.

About six months after the last halving, for instance, the 200-day SMA hit =
a=20
new peak above $10,300, and five or so months later BTC prices had climbed =
all=20
the way to $64,000. (Always remember that past performance is no guarantee =
of=20
future results.)
Read more market insights=20
<https://www.coinbase.com/institutional/research-insights/research/weekly-m=
arket-commentary/weekly-2024-04-19>



 BIT SIGNAL=20

Meet the new projects that are transforming Bitcoin

Friday=E2=80=99s BTC halving may have sharply reduced the amount of new cry=
pto that=20
miners earn, but in a surprising twist, theirother main income stream rampe=
d up=20
in a major way=20
<https://www.coindesk.com/tech/2024/04/21/bitcoin-miners-reap-windfall-as-r=
unes-debut-sends-transaction-fees-to-record-highs/#:~:text=3DBitcoin%20tran=
saction%20fees%20averaged%20a,record%20set%20three%20years%20ago.>
 over the weekend: Network fees reached an average high of $127.97 on Frida=
y,=20
compared to just $3.35 for the month of March.

What happened? A huge spike in transactions that were mostly related to a n=
ew=20
protocol called Runes, which allows users to create =E2=80=9Cmemecoins=E2=
=80=9D on the BTC=20
network.

It=E2=80=99s just one of an increasing number of projects aimed at allowing=
 the=20
original cryptocurrency to function more like a flexible Ethereum-style=20
platform.

Here=E2=80=99s what you need to know.=20

What are Runes?=20

Runes Protocol is a project that allows for the creation of tokens=20
<https://www.coindesk.com/tech/2024/04/17/runes-casey-rodarmors-protocol-fo=
r-shtcoins-on-bitcoin-set-to-go-live-at-halving/>
 on top of the Bitcoin blockchain =E2=80=94 a common practice on networks l=
ike=20
Ethereum, Base, and Solana.

It=E2=80=99s the creation of Casey Rodarmor=20
<https://twitter.com/rodarmor/status/1774613900119699701?ref_src=3Dtwsrc%5E=
tfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1774613900119699701%7Ctwgr%5E369bc1c87=
6047adab8670ddb2ef2e46c1fb03f3d%7Ctwcon%5Es1_&ref_url=3Dhttps%3A%2F%2Fwww.c=
oindesk.com%2Fmarkets%2F2024%2F04%2F12%2Fbitcoin-meme-coin-pups-fuelled-by-=
hype-ahead-of-runes-release%2F>
, the developer behind the similar BitcoinOrdinals=20
<https://www.coinbase.com/bytes/archive/the-bitcoin-ordinals-buzz-explained=
>=20
NFT project, which makes it possible to =E2=80=9Cinscribe=E2=80=9D data on =
the smallest units=20
of bitcoin.

Unlike the non-fungible (or unique) tokens created by Ordinals, Runes users=
=20
are able to =E2=80=9Cetch=E2=80=9D data onto the blockchain and mint regula=
r interchangeable=20
tokens.

Besides helping send bitcoin transaction fees to a record high, Runes token=
s=20
are catching on with traders. Four days after launching, the most popular R=
une=20
hadnearly 20,000 holders <https://luminex.io/runes/mint> and a market cap=
=20
around $227 million.

DeFi is on the horizon for bitcoin

Unlike Ethereum, Bitcoin=E2=80=99s code was never designed to run smart con=
tracts=20
<https://www.coinbase.com/learn/crypto-basics/what-is-a-smart-contract>. Bu=
t=20
now that projects like Ordinals and Runes have illuminated possibilities fo=
r=20
BTC beyond its traditional =E2=80=9Cstore of value=E2=80=9D role, developer=
s areracing to build=20
<https://www.coindesk.com/consensus-magazine/2024/04/19/bitcoin-will-power-=
the-next-defi-summer/>
 ways for users to bridge their bitcoin into protocols that are smart-contr=
act=20
compatible.

Startups including Stacks (see the next item), CoreDao <https://coredao.org=
/>,=20
Lorenzo Protocol <https://www.lorenzo-protocol.xyz/home>, and LeverFi=20
<https://www.leverfi.io/> are building solutions that would allow users to=
=20
stake their bitcoin on other blockchains or use bitcoin inDeFi=20
<https://www.coinbase.com/learn/crypto-basics/what-is-defi> protocols.=20

One of the biggest Bitcoin layer 2 networks is making major changes

Because of the way it was designed, Bitcoin has much slower transaction spe=
eds=20
than many newer cryptocurrencies. In an effort to speed things up, a variet=
y of=20
=E2=80=9Clayer 2=E2=80=9D blockchains like Stacks and theLightning Network=
=20
<https://www.coinbase.com/learn/your-crypto/what-is-lightning> have been=20
developed to move some of the traffic off of the main network and onto spee=
dier=20
parallel chains.

Currently, Stacks transactions can only be settled when miners add a new bl=
ock=20
to the Bitcoin blockchain =E2=80=94 approximately every ten minutes =E2=80=
=94 which is way too=20
slow for fast-moving applications like DeFi.

But the new =E2=80=9CNakamoto=E2=80=9D upgrade=20
<https://docs.stacks.co/nakamoto-upgrade/what-is-the-nakamoto-release>, whi=
ch is
being rolled out=20
<https://blockworks.co/news/stacks-nakamoto-upgrade-bitcoin-layer-2s> over =
the=20
next month, will introduce parallel transaction processing, allowing Stacks=
=20
miners to produce multiple Stacks blocks in between each Bitcoin block. In=
=20
addition to faster transactions, users will be able to bridge their BTC to=
=20
Stacks and receive a new token, stBTC, that=E2=80=99s compatible with smart=
 contracts.

=E2=80=9CWhat I'm feeling the most proud of is this may be a massive improv=
ement to=20
Bitcoin UX for normal people,=E2=80=9D said Stacks creator Muneeb Ali. =E2=
=80=9CPeople want a=20
way to use their BTC.=E2=80=9D

The bottom line=E2=80=A6=20

For years now, the prevailing bitcoin narrative has centered around how wel=
l=20
it functions as =E2=80=9Cdigital gold,=E2=80=9D or a "secure", inflation-re=
sistant store of=20
value. And while more people than ever have access to BTC via innovations l=
ike=20
ETFs, developers are increasingly finding ways to innovate on the original=
=20
cryptocurrency.

In fact, in the days since the halving, bitcoin scaling solutions have=20
outpaced bitcoin=20
<https://www.coindesk.com/markets/2024/04/22/bitcoin-layer-2-coins-stx-ela-=
savm-outperform-btc-after-halving/?utm_source=3DSailthru&utm_medium=3Demail=
&utm_campaign=3DFMAAPR22.24&utm_term=3DFirst%20Mover>
, with Stacks=E2=80=99 STX token up roughly 10% since Friday.
Learn more about layer 2s=20
<https://www.coinbase.com/bytes/archive/what-are-layer-2-blockchains-exactl=
y>



 NUMBERS TO KNOW=20

$8,450

Approximate cost=20
<https://www.voguebusiness.com/story/technology/louis-vuitton-nfts-are-back=
-with-a-euro7900-phygital-varsity-jacket>
 of a =E2=80=9Cphygital=E2=80=9D Louis Vuitton leather varsity jacket desig=
ned by Pharrell=20
Williams, the fashion house=E2=80=99s creative director. The jacket is bein=
g sold as=20
physical apparel and an accompanying NFT that will enable holders to buy th=
e=20
garment on a =E2=80=9Ctoken-gated=E2=80=9D website.

71

Consecutive number of days that BlackRock=E2=80=99s spot bitcoin ETF record=
ed=20
<https://twitter.com/EricBalchunas/status/1783108200511750517> net inflows,=
 as=20
of Tuesday. That run places the firm=E2=80=99s IBIT fund in the top 10 of=
=20
exchange-traded funds with the longest inflow streaks. At the top of that l=
ist=20
is the JPMorgan Equity Premium Income ETF (JEPI), with 160 straight days of=
=20
inflows.

2.5%

Percentage of NFT holders =E2=80=9Cresponsible for 50 percent of all transa=
ctions in=20
secondary NFT markets=E2=80=9D between March 2021 and 2022,according to a n=
ew report=20
<https://www.chicagobooth.edu/review/how-nfts-defy-laws-supply-demand>=20
published by the University of Chicago=E2=80=99s Booth business school. The=
se power=20
traders typically =E2=80=9Ctarget[ed] collections that were likely to succe=
ed by=20
entering new mints relatively late, and only when the collection had alread=
y=20
picked up substantial sales momentum.=E2=80=9D

0.15%

The planned fee for the Bitcoin Mini Trust, a new BTC ETF product=20
<https://www.coindesk.com/business/2024/04/20/grayscale-reveals-015-fees-fo=
r-its-bitcoin-mini-trust-etf/>
 from Grayscale. Grayscale also currently offers the Grayscale Bitcoin Trus=
t=20
(GBTC), a spot bitcoin ETF, with a fee of 1.5%, which is the highest among =
the=20
BTC ETFs that launched this year. The new ETF=E2=80=99s 0.15% fee would, by=
 contrast,=20
be the lowest, reports CoinDesk.




 TOKEN TRIVIA=20

When is the next Bitcoin halving?

A2025
B2026
C2027
D2028
Find the answer at the end of the email.
Learn halving basics=20
<https://www.coinbase.com/bytes/archive/bitcoin-halving-basics-to-know>=20


Trivia answer

D2028

 <https://itunes.apple.com/us/app/coinbase-bitcoin-wallet/id886427730?mt=3D=
8>=20
<https://play.google.com/store/apps/details?id=3Dcom.coinbase.android>
Disclaimer: This material is the property of Coinbase, Inc., its parent and=
=20
affiliates ("Coinbase"). The views and opinions expressed herein are those =
of=20
the author and do not necessarily reflect the views of Coinbase or its=20
employees and summarizes information and articles with respect to=20
cryptocurrencies or related topics that the author believes may be of inter=
est.=20
This material is for informational purposes only, and is not (i) an offer, =
or=20
solicitation of an offer, to invest in, or to buy or sell, any interests or=
=20
shares, or to participate in any investment or trading strategy, (ii) inten=
ded=20
to provide accounting, legal, or tax advice, or investment recommendations =
or=20
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v> <tr> <td align=3D"center" valign=3D"top"> <table role=3D"presentation" c=
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le=3D"presentation" align=3D"center" cellpadding=3D"0" cellspacing=3D"0" wi=
dth=3D"100%"> <tr> <td align=3D"center" valign=3D"top" style=3D"font-family=
: Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-height: 2=
4px; color:#0A0B0D; font-weight:400; padding-bottom:20px; padding-left:20px=
; padding-right:20px;"> Don't invest unless you're prepared to lose all the=
 money you invest. This is a high-risk investment and you should not expect=
 to be protected if something goes wrong. <a href=3D"https://links.coinbase=
.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26=
c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpb_GUjYsyYLyjvl=
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=3D"_blank" style=3D"color: #0052ff; text-decoration: none;"><u>Take 2 mins=
 to learn more</u></a>. </td> </tr> </table> </td> </tr> </table> </td> </t=
r> <div style=3D"line-height: inherit; margin-bottom: 20px;"><table style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; vertical-align: top; border-collapse: collapse; width: 100%;" wid=
th=3D"100%" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; vertical-align: top; border-collapse: collapse;" valign=3D"top"><=
td style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, A=
rial, sans-serif; border-collapse: collapse; text-align: left; vertical-ali=
gn: middle;" align=3D"left" valign=3D"middle"><a href=3D"https://links.coin=
base.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b5645441=
5a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNHnFMjAsrkOj-VGGADteHfkLh_TVgNv3=
bCYBSdab_gAbehjcqYp-PO1b-UkIM0R4j8YbXBk0TbmM6TCrjfImfWaJk0qR3ZF8BlxpGN4nfsH=
ZCtt6c5WZDt5ekCJ23521zYSVu7rmwjvVDgZ7j1GP-JRTmuoLj4IWqT-zWA1_ef3rQcjau7nlXZ=
Oq-NgAnyi5a3P0cK2j-PFvNFlso5fDjWqYMQ71P8O-eu1dwpEnV94Dj5IZGIkGpGgurjHE42RQ9=
EGneRceD4zwaXce4oJ6GmPIWdS3PMCWUxthn7BYEe8C" title=3D"Coinbase Bytes" targe=
t=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: inherit; col=
or: #1957F5;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/user=
s/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878=
e9689713/cbytes-4x.png" height=3D"36" style=3D"line-height: inherit; displa=
y: block; height: 36px;"></a></td><td style=3D"line-height: inherit; font-f=
amily: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; b=
order-collapse: collapse; text-align: right;" align=3D"right" valign=3D"top=
"><p style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica,=
 Arial, sans-serif; font-size: 20px; color: rgb(10, 11, 1); margin: 10px 0p=
x 0px;">25/04/2024</p></td></tr></tbody></table></div><a href=3D"https://li=
nks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095=
b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpYm=
h2waGIYxNkEBYs-wqjTAw7Veo5lnEYk3qjAFtgel55Ti5ljfG8jYUE2pMwuAHrfKxgfBR9l0ZiW=
oLaZjKMjwLdKbzERf0jVAsTCjqKmZS3Svvsp7nB77P7UvUyTx8h13hcGRxZkrckH1990tqcneA-=
hh0Xi1SFuOptxgl-tbEC7wOC1zF42_3M1SPJGMHXi8eqnmJ0VMToZzcSORCgvY-9vQbuvgJ5w1B=
GkEHiTc6lqCEcKs8NuxTtVQF6RAQjPjA-VNQDq2AMxEAUyzf-1f" target=3D"_blank" rel=
=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5;"><i=
mg src=3D"https://images.ctfassets.net/q5ulk4bp65r7/6LUKqQta2Lun0htH2Vmhel/=
baa1efdccba27fc9d4d0c8925c43d61b/image1.png" width=3D"100%" style=3D"line-h=
eight: inherit; display: block; width: 100%;"></a><p style=3D"font-family: =
Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-he=
ight: 1.5; word-break: break-word; font-size: 12px; color: rgb(91, 97, 110)=
;">Bitcoin=E2=80=99s fourth-ever halving took place last Friday, cutting th=
e network=E2=80=99s block reward from 6.25 BTC to 3.125 BTC.</p><p style=3D=
"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 48px 0p=
x 16px; font-size: 32px; line-height: 1.26; word-break: break-word;"><stron=
g style=3D"line-height: inherit;">What=E2=80=99s up? It=E2=80=99s Coinbase =
Bytes </strong></p><p style=3D"font-family: Helvetica Neue, Helvetica, Aria=
l, sans-serif; margin: 0px; line-height: 1.6; word-break: break-word;">Ther=
e=E2=80=99s never a dull moment on the blockchain. Here=E2=80=99s what you =
need to know this week:</p><!--[if mso]><ul style=3D"line-height:1.6;mso-li=
ne-height-alt:26px;"><![endif]--><!--[if !mso]><!-- --><ul style=3D"margin:=
 10px 0px; padding-left: 24px; line-height: 1.6;"><!--<![endif]--><li style=
=3D"line-height: inherit; margin: 0px; padding: 6px 0px;"><strong style=3D"=
line-height: inherit;">Key crypto headlines in focus. </strong>How the halv=
ing, a significant BTC metric, and a new U.S. stablecoin bill are shaping c=
rypto markets.</li><li style=3D"line-height: inherit; margin: 0px; padding:=
 6px 0px;"><strong style=3D"line-height: inherit;">Bitcoin=E2=80=99s emergi=
ng wave of crypto projects. </strong>Developers are increasingly building o=
n top of the original blockchain in unexpected ways.</li><li style=3D"line-=
height: inherit; margin: 0px; padding: 6px 0px;"><strong style=3D"line-heig=
ht: inherit;">This week in numbers. </strong>The price tag for a =E2=80=9Cp=
hygital=E2=80=9D Louis Vuitton jacket designed by Pharrell, BlackRock=E2=80=
=99s impressive bitcoin ETF streak, and more stats to know.</li></ul><p sty=
le=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, =
sans-serif; margin: 0px; padding: 0px;"></p><!--[if !mso]><!--> <div class=
=3D"desktop_hide" style=3D"mso-hide:all;display:none;max-height:0;overflow:=
hidden;"> <table style=3D"width:100%;table-layout:fixed;margin:0;"> <tbody>=
 <tr> <td style=3D"padding-top:40px;"> <a href=3D"https://comm.coinbase.com=
/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca5637196741819225=
5878e9689713%26_m=3D8204095b56454415a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ1=
25vfbNNVbmBZ09aN83F8hHTE5-sTK2NMDFSIF6kOgzWY9TOuw6IHVvbCbBmsai7G_V_famj4Buo=
THz6Zh-SuTTmbe-BlAkqtwy1CZNYXZ8FCSa5WWqnocnpE-jVdfv9GdTuPANInJIvducvQRzQ8tk=
Z1xJVvglRw5lh-2mtreP6R_9ayjfcGBT6YRarfMlK1dKdwE_9s3CtZMtdNXUXNamk2XdVJNRCrf=
in0Hw3KiV6HyvhiY3QdJjqtL6BTvcB9rmZsFja3cZeED25rQPw-s9ZkyiqNZ6ToxmBEXmUTTKM2=
VGpktU3rEKYOLtkjtuuLc1bXdTh7Ui4mBGzZv6mOTsncPLt4%253D/1/0100018f15bf2887-66=
2c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/Qgm1C-1ud8ICV_Bb_SHCFFVjFRZmy74lN=
5waFMNMPRI=3D350" target=3D"_blank" style=3D"text-decoration:none; color:#0=
A0B0D;"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> =
<tr> <td align=3D"left" valign=3D"top"> <table role=3D"presentation" cellpa=
dding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <tab=
le role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td alig=
n=3D"left" valign=3D"middle" width=3D"22"> <table role=3D"presentation" cel=
lpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top" st=
yle=3D"padding-top: 0px;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.ne=
t/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca5637196=
7418192255878e9689713/down-arrow_updated_2.png" width=3D"12" style=3D"displ=
ay: block; width: 12px;"/> </td> </tr> </table> </td> <td align=3D"left" va=
lign=3D"middle"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=
=3D"0"> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=3D"to=
p" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-siz=
e:16px; line-height:24px; font-weight:600; color:#0A0B0D;"> Bitcoin </td> <=
/tr> </table> </td> </tr> </table> </td> </tr> <tr> <td class=3D"whitetext =
whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coinbase San=
s, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; font-weigh=
t:400; color:#0A0B0D; padding-top: 5px; padding-left: 22px;"> -0.45% </td> =
</tr> </table> </td> </tr> </table> </a> </td> <td style=3D"padding-top:40p=
x;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.co=
m%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D8204095b564544=
15a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sSQasRD7=
PGfhVW_7ulLC8SUymIGGZ81AKrm8hKAcPyBZQGMKxyRKdkMXTdbdE8Om-SknpuRCkkhCz0S8r8F=
k1-zLsNKLb5Kp8HCGS4WdyOY5pRX-d5yWoc3YuDGgq2ZNDRDGq-DxYy52M_BCtYOQRNexB6Moln=
eEc9uaCg7Ms0uU5p7mQtIr-xaSKc7sAy7d6GNDjZjS9JO-K5BQDdRqTBJ5q15iRmPO-uVcWCtUX=
7eX7j1o281jZMWMNR-S1I0P6Wo5cVKm3IkLx5Nzev9JIMJ4CPfSuOyFkc3DmyDh1nJByoUsA1je=
4rB-RF_n3B28iQ%253D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce=
-000000/n8uqQ2R6uRVVfNYKB9oqisT4-uQUl2xXvdmjX9cliwg=3D350" target=3D"_blank=
" style=3D"text-decoration:none; color:#0A0B0D;"> <table role=3D"presentati=
on" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"=
top"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr=
> <td align=3D"left" valign=3D"top"> <table role=3D"presentation" cellpaddi=
ng=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=
=3D"22"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> =
<tr> <td align=3D"left" valign=3D"top" style=3D"padding-top: 0px;"> <img sr=
c=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d571=
3-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_upd=
ated_2.png" width=3D"12" style=3D"display: block; width: 12px;"/> </td> </t=
r> </table> </td> <td align=3D"left" valign=3D"middle"> <table role=3D"pres=
entation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetext =
whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coinbase San=
s, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; font-weigh=
t:600; color:#0A0B0D;"> Ethereum </td> </tr> </table> </td> </tr> </table> =
</td> </tr> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=
=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; fo=
nt-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top=
: 5px; padding-left: 22px;"> +1.46% </td> </tr> </table> </td> </tr> </tabl=
e> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"https:=
//comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3=
aca56371967418192255878e9689713%26_m=3D8204095b56454415a26c6bfe53214837%26_=
e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sQa3K0XnWgmBH5-_ZwmKXUUXEqNx7w=
vobKGZ0XB644QyowhO0LDavYHV7sBuEA6M3M4QL56Z5TBOCA7X8mBFbC8_numio7saYpm-Uz1FW=
NpxTOfxOPXu54k8M1EPd4V7FO7bhaObycOSdnXtOhWLZCPlgKNHDxXBecAUUzHzSjdqlArxl2w9=
LhG11KSWRDG7mcTdvDr-qtXWAu4KXKJ1Lm_OqOO7ODeQMs_5VkvrmeEhSuyfjsqVTUrzaMLMXUt=
yCJfQXzXEMYQhdEVvEHkerfVhvawB5K2fve-prrHadAFsBgOqkOghqsl6J-aZ-yefDk%253D/1/=
0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/BWJJpan5tuM7Q6=
cR9ILaUzd_1uRzITqvUey1cpKIByc=3D350" target=3D"_blank" style=3D"text-decora=
tion:none; color:#0A0B0D;"> <table role=3D"presentation" cellpadding=3D"0" =
cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table role=3D"p=
resentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" v=
align=3D"top"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=
=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=3D"22"> <table role=
=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"le=
ft" valign=3D"top" style=3D"padding-top: 0px;"> <img src=3D"https://d15k2d1=
1r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c54=
2cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width=3D=
"12" style=3D"display: block; width: 12px;"/> </td> </tr> </table> </td> <t=
d align=3D"left" valign=3D"middle"> <table role=3D"presentation" cellpaddin=
g=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetext whitecolor" align=3D=
"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, s=
ans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0B0D=
;"> Solana </td> </tr> </table> </td> </tr> </table> </td> </tr> <tr> <td c=
lass=3D"whitetext whitecolor" align=3D"left" valign=3D"top" style=3D"font-f=
amily:Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-heigh=
t:24px; font-weight:400; color:#0A0B0D; padding-top: 5px; padding-left: 22p=
x;"> +4.97% </td> </tr> </table> </td> </tr> </table> </a> </td> <td style=
=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%=
2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26=
_m=3D8204095b56454415a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09a=
N83F8hHTE5-sTkeAWTpmXt7wCuZPxZ3nAShHSgMHihLNMRNsDmDzuLPTtQgo5Lv_hhE5JagiTQU=
64JZ_QqRbYh-Qt5U1K3KuEOC-iQG_FM8dNgHfBMJGG9x4dhejhpNgjS4MOaMLSzU6YTJ8oV27dO=
IaSDRztUMrwdGP-nw0Dvh7FF10gwVuYyqDSnXPPQcDJBLDuAo4aiyxa_da86HhnqznVpROf2AGv=
J8CWT-oH-jM322E1WBz4yeKRIgoGehv3MSxwd6mYwQqhqjirjiz3Y4qlJkkV5zORbkZIY8F_nsx=
pp9k6ARTvI26PDrRV2WbR-PlWXtHQ_qXs%253D/1/0100018f15bf2887-662c7f5d-3d36-47d=
6-b2b7-75c9df96f7ce-000000/5P0BNxa9yJ8tZkTdQXZgS0YWLjyMi05uGldfNI2s32g=3D35=
0" target=3D"_blank" style=3D"text-decoration:none; color:#0A0B0D;"> <table=
 role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=
=3D"left" valign=3D"top"> <table role=3D"presentation" cellpadding=3D"0" ce=
llspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table role=3D"pre=
sentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" val=
ign=3D"middle" width=3D"22"> <table role=3D"presentation" cellpadding=3D"0"=
 cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top" style=3D"padding=
-top: 0px;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users=
/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e=
9689713/up-arrow_updated_2.png" width=3D"12" style=3D"display: block; width=
: 12px;"/> </td> </tr> </table> </td> <td align=3D"left" valign=3D"middle">=
 <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td=
 class=3D"whitetext whitecolor" align=3D"left" valign=3D"top" style=3D"font=
-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-hei=
ght:24px; font-weight:600; color:#0A0B0D;"> XRP </td> </tr> </table> </td> =
</tr> </table> </td> </tr> <tr> <td class=3D"whitetext whitecolor" align=3D=
"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, s=
ans-serif; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D=
; padding-top: 5px; padding-left: 22px;"> +3.85% </td> </tr> </table> </td>=
 </tr> </table> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a h=
ref=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fc=
lick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D8204095b56454415a26c6bf=
e53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sTNizwoBy0dmaboDF=
IQbdB8u4J7PjzlfqgYRdxn2lu6HWCUDakAr_tAIOX5XX_biZ94K7EUDI_NoMMfLw_gQeGJOCSkT=
X5-ecS9TwPiWoTxDJirmsqeaP7kpK9fKxHznOSnW-47nOzJRXThObndr1-DFpTQeNfZieWdmxNM=
Qbddb-Vi5UHMVKbokoDmbFuLBlBy79LDlzEskIwAjwAoyHxBjh5tuuqh6ctBUemNvsg0FAk1i6e=
7Hl27TtvMRtn3xZmYwx0FmDYxSXExGkFT7mtDgTP6iOX70Ap1fXApQ-ydH6RXV9XxPmDYYCJiSg=
_g8Kk%253D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/o=
uhIfDlzs3NTddf7oC9Vck7SENyHddjr1sDkRPxOCmI=3D350" target=3D"_blank" style=
=3D"text-decoration:none; color:#0A0B0D;"> <table role=3D"presentation" cel=
lpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <=
table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td a=
lign=3D"left" valign=3D"top"> <table role=3D"presentation" cellpadding=3D"0=
" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=3D"22"=
> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <t=
d align=3D"left" valign=3D"top" style=3D"padding-top: 0px;"> <img src=3D"ht=
tps://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-=
46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_updated_=
2.png" width=3D"12" style=3D"display: block; width: 12px;"/> </td> </tr> </=
table> </td> <td align=3D"left" valign=3D"middle"> <table role=3D"presentat=
ion" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetext white=
color" align=3D"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'I=
nter', Arial, sans-serif; font-size:16px; line-height:24px; font-weight:600=
; color:#0A0B0D;"> Dogecoin </td> </tr> </table> </td> </tr> </table> </td>=
 </tr> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=3D"top=
" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-size=
:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top: 5px; =
padding-left: 22px;"> -0.39% </td> </tr> </table> </td> </tr> </table> </a>=
 </td> <td style=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.co=
m/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca563719674181922=
55878e9689713%26_m=3D8204095b56454415a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ=
125vfbNNVbmBZ09aN83F8hHTE5-sQQjPeEh_hB_xpGEWiATwZOS3fNYGSMjhNO_2l0E99vd-beZ=
pOzTMlfkp-UjAKf0wcKoIJ0_JjWFYmSgdQXGTgNFk_quC3rRqYBWmFMkpiCcu0o9bY4nWviBZjz=
iFIiJE-KVTzvL4xFX0MNSYNyJj8FPVawiMy_B2VQWpMKOrM7k2Hy-KOHUawy7Ld25LlxjTntGp5=
VP9ZDraa-NxKX1sHwCLvJdeIJv0i3KyXhFcbb6QIoQSneTPWY4BG1BG0P82uApizQOAy1PZF3CU=
MIC4kTFUtzzaXsrwgtDXqQK6qcpSxe7cAVR1RNazwnu_UPTLY%253D/1/0100018f15bf2887-6=
62c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/R1DCiSk0NGGCNhr-ES0gF1sD1Btmc0qE=
0IPw61oEqr8=3D350" target=3D"_blank" style=3D"text-decoration:none; color:#=
0A0B0D;"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0">=
 <tr> <td align=3D"left" valign=3D"top"> <table role=3D"presentation" cellp=
adding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <ta=
ble role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td ali=
gn=3D"left" valign=3D"middle" width=3D"22"> <table role=3D"presentation" ce=
llpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top" s=
tyle=3D"padding-top: 0px;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.n=
et/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719=
67418192255878e9689713/up-arrow_updated_2.png" width=3D"12" style=3D"displa=
y: block; width: 12px;"/> </td> </tr> </table> </td> <td align=3D"left" val=
ign=3D"middle"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=
=3D"0"> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=3D"to=
p" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-siz=
e:16px; line-height:24px; font-weight:600; color:#0A0B0D;"> Cardano </td> <=
/tr> </table> </td> </tr> </table> </td> </tr> <tr> <td class=3D"whitetext =
whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coinbase San=
s, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; font-weigh=
t:400; color:#0A0B0D; padding-top: 5px; padding-left: 22px;"> +2.79% </td> =
</tr> </table> </td> </tr> </table> </a> </td> </tr> </tbody> </table> </di=
v> <!--<![endif]--> <div class=3D"mobile_hide"> <table style=3D"width:100%;=
table-layout:fixed;margin:0;"> <tbody> <tr> <td style=3D"padding-top:40px;"=
> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2=
Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D8204095b56454415a=
26c6bfe53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sTK2NMDFSIF=
6kOgzWY9TOuw6IHVvbCbBmsai7G_V_famj4BuoTHz6Zh-SuTTmbe-BlAkqtwy1CZNYXZ8FCSa5W=
WqnocnpE-jVdfv9GdTuPANInJIvducvQRzQ8tkZ1xJVup6MhF_yrMFRt6Xlrr4AXz70n29Hi-uu=
01VFz6tzl9HxQ45pkLuZqgEE5txInTfk4htbU_1zsyNeu6LwD8yyoUxj9f6cFsGcfmvxnnmfRjS=
M4TSO7COihTJYsmNwq4dbiBIXqsd1h8Ws6gvQwuV9bgewp6DzTrdKlQ9Va2PF6uBviqPTujWeZZ=
6UUEIho8hP0%253D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-00=
0000/-_He0ZYdkWySHgzTm5nr1AgX9DEElP1OC_OULpjJxdk=3D350" target=3D"_blank" s=
tyle=3D"text-decoration:none; color:#0A0B0D;"> <table role=3D"presentation"=
 cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top=
"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <=
td align=3D"left" valign=3D"top"> <table role=3D"presentation" cellpadding=
=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=
=3D"22"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> =
<tr> <td align=3D"left" valign=3D"top" style=3D"padding-top: 0px;"> <img sr=
c=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d571=
3-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/down-arrow_u=
pdated_2.png" width=3D"12" style=3D"display: block; width: 12px;"/> </td> <=
/tr> </table> </td> <td align=3D"left" valign=3D"middle"> <table role=3D"pr=
esentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetex=
t whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coinbase S=
ans, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; font-wei=
ght:600; color:#0A0B0D;"> Bitcoin </td> </tr> </table> </td> </tr> </table>=
 </td> </tr> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=
=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; fo=
nt-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding-top=
: 5px; padding-left: 22px;"> -0.45% </td> </tr> </table> </td> </tr> </tabl=
e> </a> </td> <td style=3D"padding-top:40px;"> <a href=3D"https://comm.coin=
base.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967=
418192255878e9689713%26_m=3D8204095b56454415a26c6bfe53214837%26_e=3DjK3nlWS=
hgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sSQasRD7PGfhVW_7ulLC8SUymIGGZ81AKrm8hKAcP=
yBZQGMKxyRKdkMXTdbdE8Om-SknpuRCkkhCz0S8r8Fk1-zLsNKLb5Kp8HCGS4WdyOY5pRX-d5yW=
oc3YuDGgq2ZNDRDGq-DxYy52M_BCtYOQRNew9SHUEdiFZNrramULoB-aWlE2VpQ9-b5FwnbB3wi=
yQWfwAguyp1zIH29h8vz9Wg1FO28Wuo-T0BLfHAuxE1lgzjfht1A-1dfWYqktfrFwSrRP-wVZAn=
jTo1bshMmsPYc0UmKztPHXixUTIA4y1ip_yaZHRQF7R6dHoZ7Vzar2_g%253D/1/0100018f15b=
f2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/rRJUpSpLegwxP3Cf-ci1qKFuG=
315xrIJT22jtG6cye0=3D350" target=3D"_blank" style=3D"text-decoration:none; =
color:#0A0B0D;"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=
=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table role=3D"presentation=
" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"to=
p"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> =
<td align=3D"left" valign=3D"middle" width=3D"22"> <table role=3D"presentat=
ion" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D=
"top" style=3D"padding-top: 0px;"> <img src=3D"https://d15k2d11r6t6rl.cloud=
front.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3ac=
a56371967418192255878e9689713/up-arrow_updated_2.png" width=3D"12" style=3D=
"display: block; width: 12px;"/> </td> </tr> </table> </td> <td align=3D"le=
ft" valign=3D"middle"> <table role=3D"presentation" cellpadding=3D"0" cells=
pacing=3D"0"> <tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=
=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; fo=
nt-size:16px; line-height:24px; font-weight:600; color:#0A0B0D;"> Ethereum =
</td> </tr> </table> </td> </tr> </table> </td> </tr> <tr> <td class=3D"whi=
tetext whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coinb=
ase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; fon=
t-weight:400; color:#0A0B0D; padding-top: 5px; padding-left: 22px;"> +1.46%=
 </td> </tr> </table> </td> </tr> </table> </a> </td> <td style=3D"padding-=
top:40px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coin=
base.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26_m=3D8204095=
b56454415a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-s=
Qa3K0XnWgmBH5-_ZwmKXUUXEqNx7wvobKGZ0XB644QyowhO0LDavYHV7sBuEA6M3M4QL56Z5TBO=
CA7X8mBFbC8_numio7saYpm-Uz1FWNpxTOfxOPXu54k8M1EPd4V7FO1QhawebOmgZLeb7wRBTSw=
lD7AdjkAXzds9GaBl9YT0hR700U6tPuUFp8cnqH_tEmd6SeusjbsLU2vrhixtVpZ-fuXFtUCL0u=
9i8TaM7Fg-EYE9Rkt7k17PLk0Tsf80mRpCSlOtoCu_qqYCcS8o-0DecwZxXm6HOaZ-NAH1gqRZf=
s8ETYltqGV8TPCjRqkjLY%253D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9d=
f96f7ce-000000/ur8K4pqErJ9q-qkKv3pAaBes_67X-7YT902_0LvtNvw=3D350" target=3D=
"_blank" style=3D"text-decoration:none; color:#0A0B0D;"> <table role=3D"pre=
sentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" val=
ign=3D"top"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"=
0"> <tr> <td align=3D"left" valign=3D"top"> <table role=3D"presentation" ce=
llpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"middle=
" width=3D"22"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=
=3D"0"> <tr> <td align=3D"left" valign=3D"top" style=3D"padding-top: 0px;">=
 <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators=
/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-a=
rrow_updated_2.png" width=3D"12" style=3D"display: block; width: 12px;"/> <=
/td> </tr> </table> </td> <td align=3D"left" valign=3D"middle"> <table role=
=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"wh=
itetext whitecolor" align=3D"left" valign=3D"top" style=3D"font-family:Coin=
base Sans, 'Inter', Arial, sans-serif; font-size:16px; line-height:24px; fo=
nt-weight:600; color:#0A0B0D;"> Solana </td> </tr> </table> </td> </tr> </t=
able> </td> </tr> <tr> <td class=3D"whitetext whitecolor" align=3D"left" va=
lign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif=
; font-size:16px; line-height:24px; font-weight:400; color:#0A0B0D; padding=
-top: 5px; padding-left: 22px;"> +4.97% </td> </tr> </table> </td> </tr> </=
table> </a> </td> </tr> <tr> <td style=3D"padding-top:20px;"> <a href=3D"ht=
tps://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclick%3F_t=
=3D3aca56371967418192255878e9689713%26_m=3D8204095b56454415a26c6bfe53214837=
%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sTkeAWTpmXt7wCuZPxZ3nAShHS=
gMHihLNMRNsDmDzuLPTtQgo5Lv_hhE5JagiTQU64JZ_QqRbYh-Qt5U1K3KuEOC-iQG_FM8dNgHf=
BMJGG9x4dhejhpNgjS4MOaMLSzU6YLPrJ17uktJs-zIBkrugReFuYGXGW9L7qLenlITGAlMtPmA=
RRMP8w06BQAfY5I2ooCKoH9ZipqJ67nWmT4yIbaZJXlbeKU9U5w8NzoQ4fQwr_n6vKN_b4akZYe=
UkYMWUIhhKwk07NvlrUgf86c8Hn5UPOx-4Dma2xw0mk6p449jMo659GjMjZC0DNxuMo0i-s%253=
D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/Lx05TqJE59=
0xZWR53JvfrDXcGB9YcqzxjmFESF9lRUg=3D350" target=3D"_blank" style=3D"text-de=
coration:none; color:#0A0B0D;"> <table role=3D"presentation" cellpadding=3D=
"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table role=
=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"le=
ft" valign=3D"top"> <table role=3D"presentation" cellpadding=3D"0" cellspac=
ing=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=3D"22"> <table r=
ole=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D=
"left" valign=3D"top" style=3D"padding-top: 0px;"> <img src=3D"https://d15k=
2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-=
c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png" width=
=3D"12" style=3D"display: block; width: 12px;"/> </td> </tr> </table> </td>=
 <td align=3D"left" valign=3D"middle"> <table role=3D"presentation" cellpad=
ding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetext whitecolor" align=
=3D"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', Arial=
, sans-serif; font-size:16px; line-height:24px; font-weight:600; color:#0A0=
B0D;"> XRP </td> </tr> </table> </td> </tr> </table> </td> </tr> <tr> <td c=
lass=3D"whitetext whitecolor" align=3D"left" valign=3D"top" style=3D"font-f=
amily:Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-heigh=
t:24px; font-weight:400; color:#0A0B0D; padding-top: 5px; padding-left: 22p=
x;"> +3.85% </td> </tr> </table> </td> </tr> </table> </a> </td> <td style=
=3D"padding-top:20px;"> <a href=3D"https://comm.coinbase.com/CL0/https:%2F%=
2Flinks.coinbase.com%2Fa%2Fclick%3F_t=3D3aca56371967418192255878e9689713%26=
_m=3D8204095b56454415a26c6bfe53214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09a=
N83F8hHTE5-sTNizwoBy0dmaboDFIQbdB8u4J7PjzlfqgYRdxn2lu6HWCUDakAr_tAIOX5XX_bi=
Z94K7EUDI_NoMMfLw_gQeGJOCSkTX5-ecS9TwPiWoTxDJirmsqeaP7kpK9fKxHznOSnW-47nOzJ=
RXThObndr1-D6Z5ZlEQqVPR2CqyAWBhLDezJeT_qZxgumA92I9E3BRpi4iKWw-sqevR-Oeu7qwG=
GQkHjofCufsk12oxcTML6CnAGKCbDPBFhAZawNMtxkWw_K3A27qRp3-oCzk5SAt57je_gjdKW6N=
U4ha55LLz9IC2BL5G-owLeiVG4dr4zPnA%253D/1/0100018f15bf2887-662c7f5d-3d36-47d=
6-b2b7-75c9df96f7ce-000000/Ou7J59P5ni005a1pUekbTWPVEeGeUqtQNc4dNDCMy38=3D35=
0" target=3D"_blank" style=3D"text-decoration:none; color:#0A0B0D;"> <table=
 role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=
=3D"left" valign=3D"top"> <table role=3D"presentation" cellpadding=3D"0" ce=
llspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table role=3D"pre=
sentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" val=
ign=3D"middle" width=3D"22"> <table role=3D"presentation" cellpadding=3D"0"=
 cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top" style=3D"padding=
-top: 0px;"> <img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users=
/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e=
9689713/down-arrow_updated_2.png" width=3D"12" style=3D"display: block; wid=
th: 12px;"/> </td> </tr> </table> </td> <td align=3D"left" valign=3D"middle=
"> <table role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <=
td class=3D"whitetext whitecolor" align=3D"left" valign=3D"top" style=3D"fo=
nt-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; line-h=
eight:24px; font-weight:600; color:#0A0B0D;"> Dogecoin </td> </tr> </table>=
 </td> </tr> </table> </td> </tr> <tr> <td class=3D"whitetext whitecolor" a=
lign=3D"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter', A=
rial, sans-serif; font-size:16px; line-height:24px; font-weight:400; color:=
#0A0B0D; padding-top: 5px; padding-left: 22px;"> -0.39% </td> </tr> </table=
> </td> </tr> </table> </a> </td> <td style=3D"padding-top:20px;"> <a href=
=3D"https://comm.coinbase.com/CL0/https:%2F%2Flinks.coinbase.com%2Fa%2Fclic=
k%3F_t=3D3aca56371967418192255878e9689713%26_m=3D8204095b56454415a26c6bfe53=
214837%26_e=3DjK3nlWShgFefKJ125vfbNNVbmBZ09aN83F8hHTE5-sQQjPeEh_hB_xpGEWiAT=
wZOS3fNYGSMjhNO_2l0E99vd-beZpOzTMlfkp-UjAKf0wcKoIJ0_JjWFYmSgdQXGTgNFk_quC3r=
RqYBWmFMkpiCcu0o9bY4nWviBZjziFIiJE_CsZdW57krKxgf8qUUh78udq01IFY2Hw_i_SInR9O=
Ml4yjA2AvoiQsACn7bocmzyE-orWzz0NMcq6hnJdgts-RG3Jiag9iENiJVPMFVTrlrfxSwegouP=
gI5AylS8OFqxqWxL6fzdUsB1RTBRy4F_Wv0W6HlcLikvnNRweneIPNn2vGFnBn6_5b11yZHXku2=
2I%253D/1/0100018f15bf2887-662c7f5d-3d36-47d6-b2b7-75c9df96f7ce-000000/xVLk=
dX_c7b9x9cvOYfMe59t1U-_dezQJwdT67oNF9Qw=3D350" target=3D"_blank" style=3D"t=
ext-decoration:none; color:#0A0B0D;"> <table role=3D"presentation" cellpadd=
ing=3D"0" cellspacing=3D"0"> <tr> <td align=3D"left" valign=3D"top"> <table=
 role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td align=
=3D"left" valign=3D"top"> <table role=3D"presentation" cellpadding=3D"0" ce=
llspacing=3D"0"> <tr> <td align=3D"left" valign=3D"middle" width=3D"22"> <t=
able role=3D"presentation" cellpadding=3D"0" cellspacing=3D"0"> <tr> <td al=
ign=3D"left" valign=3D"top" style=3D"padding-top: 0px;"> <img src=3D"https:=
//d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb=
-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/up-arrow_updated_2.png"=
 width=3D"12" style=3D"display: block; width: 12px;"/> </td> </tr> </table>=
 </td> <td align=3D"left" valign=3D"middle"> <table role=3D"presentation" c=
ellpadding=3D"0" cellspacing=3D"0"> <tr> <td class=3D"whitetext whitecolor"=
 align=3D"left" valign=3D"top" style=3D"font-family:Coinbase Sans, 'Inter',=
 Arial, sans-serif; font-size:16px; line-height:24px; font-weight:600; colo=
r:#0A0B0D;"> Cardano </td> </tr> </table> </td> </tr> </table> </td> </tr> =
<tr> <td class=3D"whitetext whitecolor" align=3D"left" valign=3D"top" style=
=3D"font-family:Coinbase Sans, 'Inter', Arial, sans-serif; font-size:16px; =
line-height:24px; font-weight:400; color:#0A0B0D; padding-top: 5px; padding=
-left: 22px;"> +2.79% </td> </tr> </table> </td> </tr> </table> </a> </td> =
</tr> </tbody> </table> </div><p style=3D"font-family: Helvetica Neue, Helv=
etica, Arial, sans-serif; margin: 20px 0px 0px; line-height: 1.5; word-brea=
k: break-word; color: rgb(91, 97, 110); font-size: 12px;"> Past performance=
 is no guarantee of future results. Price changes are for the past week, en=
ding on Apr 25, 2024 at 02:39 PM UTC</p><div class=3D"cta_button" style=3D"=
line-height: inherit; margin: 24px 0px 0px; padding: 0px; width: 50%;"><!--=
[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=
=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace:=
0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:=
roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-=
microsoft-com:office:word" ses:no-track href=3D"https://links.coinbase.com/=
a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe=
53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpZmqOkDPF4ov8y4rASEZ=
3tLdnuvPczZZt4dFbaHSyFc5csz09W0D0I7qzaZXGT6Gzu5e654pW5W_pzq1-Ot7bRqi9Xl28oT=
1aZp8QmiiYIAto1yV1MxXpbNkjtMZNEeMoRsnBR6pekfVRldLdGHlfKkYWxloRll3eUacHJF3qW=
ovrQugOWEexRDnuT2rEWO1mTq9WF1nKWm_V0HFKLhquBWMaFH_b5ah12W0rFqcqDhg5XvgaPn-h=
l70gxis_C7e_HmE5Ueb0mItSw3qvbRMu7R" style=3D"width:350pt;v-text-anchor:midd=
le;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/=
><v:textbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue,=
 Helvetica, Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinba=
se.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a=
26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpZmqOkDPF4ov8=
y4rASEZ3tLdnuvPczZZt4dFbaHSyFc5csz09W0D0I7qzaZXGT6Gzu5e654pW5W_pzq1-Ot7bRqi=
9Xl28oT1aZp8QmiiYIAtnIltL-2tZ4QTxv_60khbHqdIAz7NQUYA3JSaNOsOiOS8qJCwRE6zD0_=
0rRbEx2A-lO5nfx_IUQS89OaTmeUGtUvCisUY7XwILacBgAGOwCJbjOJ94ReMNl90OyVQpfPBox=
fzN2Zr_NMepPV-Ol6wFYaf4Td-rSbMgSBBc2u79TC" target=3D"_blank" rel=3D"noopene=
r noreferrer" style=3D"display: block; margin: 0px; line-height: 1.2; font-=
size: 16px; text-decoration: none; color: rgb(255, 255, 255); background-co=
lor: rgb(0, 82, 255); border-radius: 30px; text-align: center; padding: 18p=
x 0px;"><strong style=3D"line-height: inherit;">See the latest prices</stro=
ng></a><!--[if mso]></center></v:textbox></v:roundrect></td></tr></table><!=
[endif]--></div><table width=3D"100%" role=3D"presentation" style=3D"line-h=
eight: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; =
table-layout: fixed; vertical-align: top; border-spacing: 0px; border-colla=
pse: collapse; min-width: 100%; text-size-adjust: 100%;" valign=3D"top"><tb=
ody style=3D"line-height: inherit;"><tr style=3D"line-height: inherit; font=
-family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse: col=
lapse; vertical-align: top;" valign=3D"top"><td valign=3D"top" style=3D"lin=
e-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-seri=
f; border-collapse: collapse; word-break: break-word; vertical-align: top; =
min-width: 100%; text-size-adjust: 100%; padding: 48px 0px;"><table border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" =
role=3D"presentation" style=3D"line-height: inherit; font-family: Helvetica=
 Neue, Helvetica, Arial, sans-serif; table-layout: fixed; vertical-align: t=
op; border-spacing: 0px; border-collapse: collapse; border-top: 2px solid r=
gb(222, 224, 226); width: 100%;" valign=3D"top"><tbody style=3D"line-height=
: inherit;"><tr style=3D"line-height: inherit; font-family: Helvetica Neue,=
 Helvetica, Arial, sans-serif; border-collapse: collapse; vertical-align: t=
op;" valign=3D"top"><td valign=3D"top" style=3D"line-height: inherit; font-=
family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse: coll=
apse; word-break: break-word; vertical-align: top; text-size-adjust: 100%;"=
><span style=3D"line-height: inherit;"></span></td></tr></tbody></table></t=
d></tr></tbody></table><div style=3D"line-height: inherit;"><table style=3D=
"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-=
serif; vertical-align: top; border-collapse: collapse; margin: 0px; padding=
: 0px;" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=3D"=
line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-s=
erif; vertical-align: top; border-collapse: collapse;" valign=3D"top"><td s=
tyle=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif; border-collapse: collapse; margin: 0px; padding-right: 11px; =
vertical-align: middle;" valign=3D"middle"><img src=3D"https://d15k2d11r6t6=
rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6=
dd6a/3aca56371967418192255878e9689713/dot-1.5x.png" width=3D"12" height=3D"=
12" style=3D"line-height: inherit; display: block; width: 12px; height: 12p=
x;"></td><td style=3D"line-height: inherit; font-family: Helvetica Neue, He=
lvetica, Arial, sans-serif; border-collapse: collapse; margin: 0px; padding=
: 0px; vertical-align: middle;" valign=3D"middle"><p style=3D"line-height: =
inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin:=
 0px; font-size: 16px; letter-spacing: 0.075em;"><strong style=3D"line-heig=
ht: inherit;"> MARKET BYTES </strong></p></td></tr></tbody></table><p style=
=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 5px =
0px 0px; font-size: 32px; line-height: 1.26; word-break: break-word;"><stro=
ng style=3D"line-height: inherit;">Bitcoin has seesawed since the halving. =
What=E2=80=99s next? </strong></p></div><p style=3D"font-family: Helvetica =
Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6;=
 word-break: break-word;">After months of anticipation, the Bitcoin network=
 <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819225587=
8e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNE=
ODlKTXHpFRicVS14lhmv5dNLwjrsFHoN0P1xpmziwxGZDo8mjm1PLLIFk594Zre-VrjVVBvSIdI=
-k22SdJPfAKd_34qt-36iVCwUKCi0X_rgP225YgbR2IwNSwntWOMqooYwGJoKz1W3IKXJw4nrxM=
8PLN2n1GS8-q3wV3SM-CHnuji-yMQcnPF-LOz3ycGW4vphxBTD0rzEaw1RG-nLqZaOZrKZp2wBE=
4fP_k4BKrfNTdJrUZH-3F8Au6EoA9_LiWhqc026zz1HJX1qis7PSVL94tP848ftcoHvbBNW6lxR=
vzkz8ZjGFpFsKaJgiHr2qPov16Gf5tNlLjXne7syK1kjY8efywQvORdQD9xt-oc-SX3YpRgeh49=
c4vy_Mu-JpGhtVApQbEZ7mJSL1AhTc%3D" target=3D"_blank" rel=3D"noopener norefe=
rrer" style=3D"line-height: inherit; color: #1957F5;">completed its fourth-=
ever halving </a>on Friday.</p><p style=3D"font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-bre=
ak: break-word;">Prices fell from more than $70,000 in the days before the =
event to below $60,000 over the weekend as some traders seemingly took adva=
ntage of a =E2=80=9Csell the news=E2=80=9D strategy =E2=80=94&nbsp;much as =
they did after spot BTC ETFs began trading in January. At the beginning of =
this week, BTC briefly climbed back to $67,000, but fell near $64,000 by We=
dnesday morning.</p><p style=3D"font-family: Helvetica Neue, Helvetica, Ari=
al, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-w=
ord;">Here are other headlines to know this week.</p><p style=3D"font-famil=
y: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line=
-height: 1.6; word-break: break-word;"><strong style=3D"line-height: inheri=
t;">Where prices could go post-halving&nbsp;</strong></p><p style=3D"font-f=
amily: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; =
line-height: 1.6; word-break: break-word;">In the months following each of =
the previous halvings, crypto markets have seen gains =E2=80=94&nbsp;althou=
gh the <i style=3D"line-height: inherit;">scale</i> of those gains <a href=
=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUw=
JizxMEcZdAYpaydFBTokOfhyLPACkv4exWM-0nOyfQfq2chw3CsKASMXxtglR4Pl9Cq3UGj_1vI=
obZcCGNbIZjS2n4_GD0bknCpIouP_iu6yPdJcS1yWCui6e6JYT4AbkMgLHfRBrr21VEW-bT8FdA=
sQZ521gdaetxPc2GK76gSFxUTDCKv-KoRUxMUPQwzuhL0qCKadYYiSv6ZEE9Vj0qu3mLW0m8Dqk=
_nfO7a09MgG4Kpk1CqpZROi3sldsq7x2YfpjNGDvlytxh1Of0q69qxHHSQzsLapsyNttsGy8_Dr=
xJFH83mviIqJcMgsVwy0WLrYzWZFhtJumBX32HRO2dqy5chKXoqMuLMIqsjbVXg-JI_r5rxLw1v=
pL4l4rGTw41y6rvG9GBDnqu-2jFbS2fr0pT1evhu5J7" target=3D"_blank" rel=3D"noope=
ner noreferrer" style=3D"line-height: inherit; color: #1957F5;">moderated</=
a> after the first halving.&nbsp;</p><p style=3D"font-family: Helvetica Neu=
e, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; wo=
rd-break: break-word;">JPMorgan has <a href=3D"https://links.coinbase.com/u=
/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe5=
3214837&_e=3DjK3nlWShgFefKJ125vfbNKQaw8FkUJzJzlfcA5024PGjPLRj0MLHkn6ixXhxWy=
Z-y1fb4aK5VxWh8IUanCm9WFiw0HHps61uTZGIha_psTmrElUPsu7mwliUcSmTu8QL3293atTre=
cThFP-YlMJLpIeQWHs2zxLrnZGf9lrinK6Y4EEPfKUBWhOu5q6YssIZY1sy4ZqAjLC2TPx8YFcU=
dLVNGvbT7oBpcH9od9eCQ3E5xGDu9kXQ9DagjiIjG-aUd8atshpEsY9nte8Wbi8h3T7AcINvQJT=
9y4JveSe33EhihTPvMGpkyYVIborE66l9NdbQ2urb32DxFusur7XhoL57Gl40PtLoqSHq9RNMio=
JF3G5OOc1TIINoFvelnCoIfqgKVGNI7NaTjnvS7Y9B2g%3D%3D" target=3D"_blank" rel=
=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5;">pr=
edicted that prices could fall</a> in the wake of the halving, and some eve=
n <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181922558=
78e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbN=
PGMrZCuBtjkx3JVIIjuPvCaES3g4YAdzsImZjRvS0qHV5FtbKXkRmaKiuOVSGOqO117nWSkdOmN=
YeUIqfanRro8LqvRwQqXjW6CijJ6oLqIWMvUrv6VREehGinZOapqzFpitwMdl5SqDK9dIXPEcI1=
G_KJqD_QTAKvrWqwRVmBsvKJeYhM5rzW70d-KRK1vT1cQCkiVNzcNIbG30F92E3-bgxcU0ZpSyQ=
xJKiqLIxkzhx1aWLBfGEZNaFrV1yXFQL-vDDw3eN6W2KNHw3mSkYttWBrfWHIcrG7k-mo9BuADT=
_CgsRpFxpjVK29E9rqpqHjfBvFmRQGRPz0SAUD7m30%3D" target=3D"_blank" rel=3D"noo=
pener noreferrer" style=3D"line-height: inherit; color: #1957F5;">seemed su=
rprised</a> that BTC prices jumped in the days immediately following the ev=
ent.</p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-ser=
if; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Meanwh=
ile, billionaire investor Mark Cuban declined to predict what impact the ha=
lving could have on prices, but <a href=3D"https://links.coinbase.com/u/cli=
ck?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53214=
837&_e=3DjK3nlWShgFefKJ125vfbNK9m4ssDtfHvCMNjzB8rDbGOD8UAhCcoj-omvr8LDZ9b3B=
CJx5E8tZa7PjWiceYiCwvCqDrBYmzj_HJoCKG2cTKGjKzDETCbgP_Qk2bEOQc4WY-91bt81xFZf=
8iNYkgaXTFCxARJtKcKEb_dd50oV7ioWjmN_njWjMjten0mGCPMMV6aFQkT9w8D4mze5aHFVjE6=
lBrCaF1VZQuSO9HyTl3AXVUFXZ3u_DWpNK42q6TVLbWGf_v3f9CSlklpqUMm7OqmGPLA01kzgcd=
3PpDPE5-Z_VJgK_pnjKsjcM7OQlvsBG1rYojidg76tkOanCC9nTROLOYOBZ5vKUoB1gGlcFcKBn=
vpbFL-nSAEiOzVjBaAQsvMGtWwWkXXq3Xb0M7Wz3CPmiOxOkJctj1uHj67rJE%3D" target=3D=
"_blank" rel=3D"noopener noreferrer" style=3D"line-height: inherit; color: =
#1957F5;">suggested</a> that the loss in revenue for miners could drive som=
e to <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca563719674181922=
55878e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125v=
fbNJrUJBIiUwJizxMEcZdAYpbflKVJs7CEpw3A0hLvz8XmenOlTJcTglw97QgwFhkDfs2khcqQ5=
nMPh91xNE41ZCx1e6KRF1Rameuqiz66g5inF_NK2ZSWTJoibfGgSkDcupRoz04joV6Ax5o4W-VO=
lwamSMNF1uBijHQlgjWOuHZKeIUzDgEVh2UcuhFVg3D3wcfp4l87Rbr6FNtjWxbnS0_ONM8NZFz=
PGAIozdb0y_Dusljk2SdeuCYPT0sWMCKDPP2GBZH1d8l8sjlvIWEoUv73MZEY0zxQpYUSCcxwu0=
x9GXHwi_DjIu5Tx0iwqlOC5DWS0XlzXt_qS7GmSec5Agiu6h6Jlc-NubvFUGnNz0B4ZfOyzpaJV=
RqZghAEFAvmV8Vy5TXAjz1bGwi9iUf8NocEY_Xi_miKNNMIz0osNaa_EPXojWgmX5ql4Dt8nh0i=
7io9b6Ce_sTRCAsHr_otzPkJGHwodX5qfzy2wzJzzPrx" target=3D"_blank" rel=3D"noop=
ener noreferrer" style=3D"line-height: inherit; color: #1957F5;">pivot</a> =
to AI.</p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-s=
erif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Gene=
rally, analysts say that the halving effect will fully emerge over the comi=
ng weeks and months.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helv=
etica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-brea=
k: break-word;"><strong style=3D"line-height: inherit;">Keep in mind=E2=80=
=A6 </strong>Short-term swings are expected by many crypto traders, which i=
s why BTC <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca5637196741=
8192255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefK=
J125vfbNJrUJBIiUwJizxMEcZdAYpZNMrpbBNkYZqU98siZV0GDkyNqmqcVn4ej4dsudC7psaZL=
DjxOIP9yzxBQwUv0S4fy5Ufj_nuc_7fSU82_H2FF957iaXxoQiOm6_O1MwHSzFt4LRMiYYSZeyt=
WeIStRlW246HRoQZSvEaUg8hp6qV16-5PvA-0XHGwnEzau6RPz6ApSHxXxV0Z0OsPTjLymZz2eK=
aM6XezWlD_g5mv1pF7mTSu62kNXK1Tb419HFNPyrYOlfZSa4YkbldW179LLbw8eeiPhH4ceZ_GR=
A82IORWLbUN4Z8rlc0w1DFYHX-wcEgCcavFGgeWsMLSipVviaYFgD8tLvMTTwikRuESCxYp" ta=
rget=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: inherit; =
color: #1957F5;">HODLers</a> take a longer view. As MicroStrategy CEO Micha=
el Saylor =E2=80=94 whose firm <a href=3D"https://links.coinbase.com/u/clic=
k?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe532148=
37&_e=3DjK3nlWShgFefKJ125vfbNOMMCirM9gv8KR7reLcTQIdDJFEL8U8e5j1FmLa_jGk4biB=
eEzE_g8s0Y4gPghHMZIO9qxNqnotsSen20mFYfgb9jBl2xgJAOyl2dzaIaXfEqNg2EGwEczd6s7=
_kxbTh0fPSwZMNx2mFJLPcapH14qYWr8RqZzcAKp8kSLaFA1u_1TbDl0V4azSy8yHTD_rOIwWe5=
gZzlFS12IrpQ_MC3IFSSQ3kNBQLqkHF4bmR-dYoBFB34onrXXn-7QkqEY9rh6sYfn4G0V8zOhrn=
7HucnjfcH2-WkFs9gUAQQMlyGiV_YXjLOB3_0_96JMNFFYEu53tgbYCTvqWrrhuq4X971hUIm3i=
3Zf4KnjFez4kJdp4lMsvMK8OimP5jFK6dotCqOVeppLXXT_7_eQGTrnD_Zlu5GIHLlyxAGHRzqO=
dbukLMTylMGgjk_q0z6nzd5FxMPg%3D%3D" target=3D"_blank" rel=3D"noopener noref=
errer" style=3D"line-height: inherit; color: #1957F5;">owns</a> more than $=
14 billion in BTC =E2=80=94&nbsp; recently <a href=3D"https://links.coinbas=
e.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a2=
6c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNKMrDnZy7XnBab0jeecFmMdCTfmm4-mlM4r=
NTuhsayB4RsepmRRKVQwqJpJGTiplc9WV-HoG889L4DIYP3tybwyaO9TJbegpjbAa_mCoIAQr41=
YGkpAaox5X47Im4ogisvZSqAZrLI-pXLaEi38NJmgMl_GQm_Sq83K0IvP4uzacdgRJCTgaRoFpw=
ja1POEF8PQzg6zfoa7ZiGz7yBw4QuBC5baSVPUPN3K2cZrtdo8Y0DM-hw0VA3V69xJB8raDhCpk=
eoTALZMvTjuh3v7CEomzcJA00L23CpOwGfk1ObJdiIgZxDi6_zby6tGmz5yPeQWy6Og38UrMnLW=
_8MReNz38eDyqR3ksx3APCYgGiHbC" target=3D"_blank" rel=3D"noopener noreferrer=
" style=3D"line-height: inherit; color: #1957F5;">put it</a>, =E2=80=9CIf y=
ou're going to invest in bitcoin, a short time horizon is four years =E2=80=
=A6 no one has ever lost money holding bitcoin for four years.=E2=80=9D </p=
><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; mar=
gin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><strong style=
=3D"line-height: inherit;">Senators propose new stablecoin rules</strong></=
p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; ma=
rgin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Last week, s=
enators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY), <a href=3D"htt=
ps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D=
8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNKp_TR5w5srbSZ1Da=
VDtDcaloWW65QMt6uJNEkTHKalGrZXyxzYjrz8GeixfT3Szv76RZuZAPfnBFlclYn0Y9EQ2IpS4=
l7_G4wgeeQLmNqYV7lzDhIUKq5bjmVaSke5NnhNw9e74PcJsb3_bZiXuExcD6Qu1l1HX488d9Oc=
kNA9TxkOPGjs1uNI0l7tbDSbsM06IzGzm-_o1ltT7Ae2d-TGc5N1kNZ8XWWLLqsWUPhCfsiMTfr=
VyhtaV2p_Xor38YGCgcvjzm_JYZ4_lqc1e7hLWQRzbY5fJfTLdgWzuzil49UB6iVfgllXSC1FPB=
nsdKdtNwF0t3J_fuE22YwKDyedQUhWqMJhr2v_vSSSjeR61" target=3D"_blank" rel=3D"n=
oopener noreferrer" style=3D"line-height: inherit; color: #1957F5;">introdu=
ced a bill</a> that would regulate firms that issue <a href=3D"https://link=
s.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b5=
6454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpa5gA=
WrkDf20jvZqfpNr6joPol5nXEPT_-pzJLZJhKaI5Fq_8m1lMBlPtT7X_5i8cg3zcuJcOB5pJH87=
EmVrMI-b1H9G7ijBGlCe4zHejvNttl26QRgOebrCdhUpEW8StcHJQMgblKIxmfHkVVSAHc21PvT=
u5V9oQklJUIyHp_Z3KLzAq3P81vTdBTBermAPoWAn_ob9EhPeWR7iKW_l8Zv6_4btcm79hhcJb4=
68_Hb_f1WFBHjvBTyw9qqb4BaL7fu-6Zse-j1EhcVSkuq93Xtjpseh_kRLoU9bVUH_FDr3f7T5G=
mlKhP93juaz58aaw0QTXMBtm_Oz7bxQcsITxxs" target=3D"_blank" rel=3D"noopener n=
oreferrer" style=3D"line-height: inherit; color: #1957F5;">stablecoins</a>.=
 (Stablecoins are cryptocurrencies that are designed to avoid volatility by=
 having their value pegged to a reserve asset, most commonly the U.S. dolla=
r.)</p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-seri=
f; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Among o=
ther stipulations, the bill <a href=3D"https://links.coinbase.com/u/click?_=
t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&=
_e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHHn9U9nJ3Vr9d5NcedMk7ROejT04A-gBwjZ6d5=
_6Ja5c7ihtIChD2jTrmdw0WaRj-TvDtYTyeU2gshdSJROy7ZbN4uucQJXUM3cQzBJ-gFsIUTxQK=
m0wTuG7s89ko6Bba6AniXm2gyzArQDI4gvBNsQid0UmoqFoSNLLQChhK1xOt_0QEPVdCwWf03d0=
azqXQweFGYhzJ1DN3gLP94VeZ6CR2yVNv3Bf-lXWLAaRWDJPC4GqhJx7IsNTMb5aU6ucOgSh4_t=
n8JxANCr-daQdNAhtAPVrtMj8G6POnz0kATH_-d-wFwey3l8SpBS3hGZqst66TPGlLRzzLaADeg=
TdZw6zL7L80MA7ENmmh1DG_tDVzAPTtvWicA72xYritV2O1xaR_-ufqqryttskNHbRX0h9nHUdi=
8Er" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: in=
herit; color: #1957F5;">would require</a> stablecoin issuers to maintain 1:=
1 reserve ratios (by essentially holding a dollar for every stablecoin issu=
ed) and would prohibit =E2=80=9Calgorithmic=E2=80=9D stablecoins, which use=
 smart contracts to automatically make trades designed to keep the value of=
 the token consistent.&nbsp;</p><p style=3D"font-family: Helvetica Neue, He=
lvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-br=
eak: break-word;"><strong style=3D"line-height: inherit;">Reading between t=
he lines=E2=80=A6 </strong>Per the sponsors, the bill is designed to kickst=
art conversations on Capitol Hill. =E2=80=9CWe're glad we went ahead and pu=
t it out just to get some good feedback,=E2=80=9D Lummis said. =E2=80=9CWe'=
re happy to adjust it.=E2=80=9D</p><p style=3D"font-family: Helvetica Neue,=
 Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word=
-break: break-word;"><strong style=3D"line-height: inherit;">A key BTC metr=
ic approaches all-time high</strong></p><p style=3D"font-family: Helvetica =
Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6;=
 word-break: break-word;">One indicator that professional crypto traders us=
e to predict how markets might behave in the future is the <a href=3D"https=
://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D82=
04095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNPX1mu6a0UKvBq_GQzn=
RR-M5h6Gxnb3znkChm61Vfo8PBgjU3K-y3hmR-E1meO9cmefqGx4YCPb4niyh11czZtuyy5dytQ=
28er62qHRzm6DJCC6O1sKzTHbcGoQkkBKTETNeavLKTsk-24yeHwlewUq6-L17I1RcmwsU00LNO=
S9aSSTD6mKKHIIh9WauRC3CrG7rVXXVKhyk3ej_dB2YXcCaxkyud6jfQKmdglAPZEM4XQpH83wu=
snBvog-DTgDIR5DGBJUIbfctXCHQ_-r0SAfWP1EydwSJwg5t4oNFAkfVIet1MzZLeS5REWZRdSb=
cu8_WPlROyFIRPJv5SlqVI4r6m1p9G0eb-hXalEF1GuOF5lbEAyN2kvVqJnp4BFz7Zo_msaCruY=
-_xwJf8BwH95OAnxrpUzPfkUe5mxktXPCMN9cikeLUlOx9dtVtiqj0mvc-J8FiLmNPmbbMCm7tW=
C0-n53uweCU8CR6XtSqu-nT_7wj3aX2oIweMAdAP4xWYUoYc5q3BFXl8ziC_t5uFl98OaLDcHkX=
kWSJ2cEBY--6vVKjxTpejfezt8RosjTtYg%3D%3D" target=3D"_blank" rel=3D"noopener=
 noreferrer" style=3D"line-height: inherit; color: #1957F5;">200-day simple=
 moving average</a> (SMA), which is considered a way of gauging longer-term=
 trends.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-wor=
d;">As of Tuesday, it was <a href=3D"https://links.coinbase.com/u/click?_t=
=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&_=
e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHHn9U9nJ3VrftP89rf7wqjnn4T2emDhwQ3cjs0d=
gBXX5xKtnxXlc9ndrqBrnswUDD4ei0grYboiCfV8o1BZY-lGSAAMVA-ggk5mAQrRylJ674P9RWU=
glA0DtwoH02BlbCjio0eAKohqAj0wnFVjIZ7Ljp6Covj4F0pRIlpBCKRSp0icxZCdRgwyXGBhSg=
nDekbNma1Usy8DpzzdcxgZ1C3y13CU75fh2dDEUHvJQKJocrNO3yKjQ7SAmFWkyL4VtWDcwkzzW=
JvjkiaZ1_s0ucmZAwJBamhKLMEaeomndcaZfzN9JLikCI6n5vUakZHS634Hu3hT3LsfGgIXh5H5=
BnxaDJWwJAq5gFGeUJAROk-pUeVB6fXkrZwAqrVAWvrjiy6dDngOv2w7UWz2ZO4_Frn6Y9bqNlD=
x7rC2cy-ayxuPxXfe_9jOA2_pGAwGHGVRJi77vGjOu5rvzRkyqzAkZ5bESPsJ0HGFnzAlkiUyXm=
DM3hbL9qad9ZhYIFMiKQorux8LPV01iSno_phkzg2YLdurcb9apDQASJzLNeuiZ4G_STk1AQayx=
bQQqMJfDvu3_pUDYxJzbtOw%3D" target=3D"_blank" rel=3D"noopener noreferrer" s=
tyle=3D"line-height: inherit; color: #1957F5;">approaching</a> $48,000 =E2=
=80=94&nbsp;just short of the all-time high of $49,452 set in February 2022=
.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-=
serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;"><st=
rong style=3D"line-height: inherit;">Why that might be important=E2=80=A6 <=
/strong>=E2=80=9CPast data show the most intense phase of the bull cycle un=
folds after this average surpasses its previous peak,=E2=80=9D according to=
 <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca5637196741819225587=
8e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNH=
Gbg4MKbVXeHHn9U9nJ3VrftP89rf7wqjnn4T2emDhwQ3cjs0dgBXX5xKtnxXlc9ndrqBrnswUDD=
4ei0grYboiCfV8o1BZY-lGSAAMVA-ggk5mAQrRylJ674P9RWUglA0DtwoH02BlbCjio0eAKohqA=
j0wnFVjIZ7Ljp6Covj4F0pRIlpBCKRSp0icxZCdRgwyXGBhSgnDekbNma1Usy8DpzzdcxgZ1C3y=
13CU75fh2dDEUHvJQKJocrNO3yKjQ7SAmFWkyL4VtWDcwkzzWJvjkiaZ1_s0ucmZAwJBamhKLME=
aeomndcaZfzN9JLikCI6n5vUakZHS634Hu3hT3LsfGgIXh5H5BnxaDJWwJAq5gFGeUJAROk-pUe=
VB6fXkrZwAqrVAWvrjiy6dDngOv2w7yztM_eyNfhPgxjzSdVBcMb592iaxmqgZXNaauFHEc5C0O=
-ep32IOyy0CpnqdnX7mwTGHsOVyQuTuDZGwTatxpgMNnQ7oY73i_njfOlOf2En5dizCJWxIFZLA=
qpWjqKRPwbkeBgDyfqm20pIFPRb9sTOqV2-pBzjmh7yBTHv2cldWChv135N_YlVNrXPZJTZA%3D=
" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: inher=
it; color: #1957F5;">CoinDesk</a>.&nbsp;&nbsp;&nbsp;</p><p style=3D"font-fa=
mily: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; l=
ine-height: 1.6; word-break: break-word;">About six months after the last h=
alving, for instance, the 200-day SMA hit a new peak above $10,300, and fiv=
e or so months later BTC prices had climbed all the way to $64,000. (Always=
 remember that past performance is no guarantee of future results.)</p><div=
 class=3D"cta_button" style=3D"line-height: inherit; margin: 24px 0px 0px; =
padding: 0px; width: 50%;"><!--[if mso]><table width=3D"100%" cellpadding=
=3D"0" cellspacing=3D"0" border=3D"0" style=3D"border-spacing:0;border-coll=
apse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"=
padding:0;" align=3D"left"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-c=
om:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" ses:no-track href=
=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUw=
JizxMEcZdAYpacH_2lQtzXVA2FZ8bTiLA423l7OcPbQ6nOqGk3YsvAh5zEyLIc9wmOo0DqXt86K=
Rm-7kpzoDnz6Qt3viOKlSAvKfW0CPzWIjpQxH-l5qqzopoJR_C42N5KVx9nSZ9Fd8M07NVWQ-TL=
dRoKyGsbXow860YbGO9_bfKyvXfEH8_iKjWUFyYHD2pJpzCuGRyLP3nh9aQHBeRCyqTdfB4Vc0T=
oQuFiYzaMxZ4Stuy5JJDQrvERY1rpYi--QlxC8A5JRTge2fZMY3k2jTZUnjFZzXhz-gw049RJF8=
M-yC2qZwfic4anuitKnwC9j6bHE_Ur0UuQ6zM-MsVH3YMcAZtqgifUXarkN3QWnKzFpHGwOg8kZ=
jgd7pMQAbBFkQH4ltr3uPE-HG4kpK6rogHWLUDA_dtO" style=3D"width:350pt;v-text-an=
chor:middle;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:an=
chorlock/><v:textbox inset=3D"0,0,0,0"><center style=3D"font-family: Helvet=
ica Neue, Helvetica, Arial, sans-serif;"><![endif]--><a href=3D"https://lin=
ks.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b=
56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpacH=
_2lQtzXVA2FZ8bTiLA423l7OcPbQ6nOqGk3YsvAh5zEyLIc9wmOo0DqXt86KRm-7kpzoDnz6Qt3=
viOKlSAvKfW0CPzWIjpQxH-l5qqzopoJR_C42N5KVx9nSZ9Fd8M07NVWQ-TLdRoKyGsbXow860Y=
bGO9_bfKyvXfEH8_iKjWUFyYHD2pJpzCuGRyLP3nh9aQHBeRCyqTdfB4Vc0TownWk0vcuWKHep3=
vUCAxvfhd4WspuiTEVcdRAasuOMikfioggh175SS-pLiEEdHJpbzThF7i8DoFbaVi43o7otcCOy=
-u5nfvuOVJVqj87ozdHeq7AHFK4IHlAkaTOV21j6lohx59osY-jv2r51fxQTxuvsTb3XaI6ATrS=
QjGUzBPo6xRaiJzzdUfrWOJ6G3Iy" target=3D"_blank" rel=3D"noopener noreferrer"=
 style=3D"display: block; margin: 0px; line-height: 1.2; font-size: 16px; t=
ext-decoration: none; color: rgb(255, 255, 255); background-color: rgb(0, 8=
2, 255); border-radius: 30px; text-align: center; padding: 18px 0px;"><stro=
ng style=3D"line-height: inherit;">Read more market insights</strong></a><!=
--[if mso]></center></v:textbox></v:roundrect></td></tr></table><![endif]--=
></div> <table width=3D"100%" role=3D"presentation" style=3D"line-height: i=
nherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; table-la=
yout: fixed; vertical-align: top; border-spacing: 0px; border-collapse: col=
lapse; min-width: 100%; text-size-adjust: 100%;" valign=3D"top"><tbody styl=
e=3D"line-height: inherit;"><tr style=3D"line-height: inherit; font-family:=
 Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse: collapse; v=
ertical-align: top;" valign=3D"top"><td valign=3D"top" style=3D"line-height=
: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; borde=
r-collapse: collapse; word-break: break-word; vertical-align: top; min-widt=
h: 100%; text-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" ce=
llpadding=3D"0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"p=
resentation" style=3D"line-height: inherit; font-family: Helvetica Neue, He=
lvetica, Arial, sans-serif; table-layout: fixed; vertical-align: top; borde=
r-spacing: 0px; border-collapse: collapse; border-top: 2px solid rgb(222, 2=
24, 226); width: 100%;" valign=3D"top"><tbody style=3D"line-height: inherit=
;"><tr style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetic=
a, Arial, sans-serif; border-collapse: collapse; vertical-align: top;" vali=
gn=3D"top"><td valign=3D"top" style=3D"line-height: inherit; font-family: H=
elvetica Neue, Helvetica, Arial, sans-serif; border-collapse: collapse; wor=
d-break: break-word; vertical-align: top; text-size-adjust: 100%;"><span st=
yle=3D"line-height: inherit;"></span></td></tr></tbody></table></td></tr></=
tbody></table> <div style=3D"line-height: inherit;"><table style=3D"line-he=
ight: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; v=
ertical-align: top; border-collapse: collapse; margin: 0px; padding: 0px;" =
valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=3D"line-hei=
ght: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; ve=
rtical-align: top; border-collapse: collapse;" valign=3D"top"><td style=3D"=
line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-s=
erif; border-collapse: collapse; margin: 0px; padding-right: 11px; vertical=
-align: middle;" valign=3D"middle"><img src=3D"https://d15k2d11r6t6rl.cloud=
front.net/public/users/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3ac=
a56371967418192255878e9689713/dot-1.5x.png" width=3D"12" height=3D"12" styl=
e=3D"line-height: inherit; display: block; width: 12px; height: 12px;"></td=
><td style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica,=
 Arial, sans-serif; border-collapse: collapse; margin: 0px; padding: 0px; v=
ertical-align: middle;" valign=3D"middle"><p style=3D"line-height: inherit;=
 font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 0px; fo=
nt-size: 16px; letter-spacing: 0.075em;"><strong style=3D"line-height: inhe=
rit;"> BIT SIGNAL </strong></p></td></tr></tbody></table><p style=3D"font-f=
amily: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 5px 0px 0px; f=
ont-size: 32px; line-height: 1.26; word-break: break-word;"><strong style=
=3D"line-height: inherit;">Meet the new projects that are transforming Bitc=
oin</strong></p></div><p style=3D"font-family: Helvetica Neue, Helvetica, A=
rial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break=
-word;">Friday=E2=80=99s BTC halving may have sharply reduced the amount of=
 new crypto that miners earn, but in a surprising twist, their <i style=3D"=
line-height: inherit;">other</i> main income stream <a href=3D"https://link=
s.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b5=
6454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHHn9U9nJ3Vptez=
XjHYWCTAZfQUuOIw3rpVbHGLcgfucRI72nS0HlSG6DGI0s_xV09T1d9PXJVKCbKVBPXj9ktopg6=
WDYXuqrx71pFOEcxj7Vfg31fyhJFfAPKxkwj6wbjdojX6qo-Horan-JLRycBiwclf-U41swQvco=
C4K5o368TIY5opLUSYlgZ46wjtiUEcKELPbJP8AnbI81wCKlc9lQiCkYH2wg_f34QC1-TYjPPYH=
dzO17jMsZygXC4IEWhRlg4ljJ1RV1GcL9-fGNmjPxUzRE77eWxZOMUBT3FkgEWuhlqt_-Q3xhAO=
52edPGaTtKF_ModcL2lwV0H91Pna0RuAedor2YvTqcH08WeA2tKFjE9bWEbuwntROL6cGGlaAa_=
GjE48jaXZmoQBWvKwWCgz8l76FwiiYU21WCcnps3Lbd76Tmm83J2Nus3s0c_Sr86fGQ4NI6vtWS=
WKW9GO3iBqotpXL_l3KQCu8l17WXA8k6CUXKFIcnoI3Boe0a5R00JMna-XFCDY3xGyk96rlaD9M=
JK_ac" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: =
inherit; color: #1957F5;">ramped up in a major way</a> over the weekend: Ne=
twork fees reached an average high of $127.97 on Friday, compared to just $=
3.35 for the month of March.&nbsp;</p><p style=3D"font-family: Helvetica Ne=
ue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; w=
ord-break: break-word;">What happened? A huge spike in transactions that we=
re mostly related to a new protocol called Runes, which allows users to cre=
ate =E2=80=9Cmemecoins=E2=80=9D on the BTC network.&nbsp;</p><p style=3D"fo=
nt-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0=
px; line-height: 1.6; word-break: break-word;">It=E2=80=99s just one of an =
increasing number of projects aimed at allowing the original cryptocurrency=
 to function more like a flexible Ethereum-style platform.&nbsp;</p><p styl=
e=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16p=
x 0px 0px; line-height: 1.6; word-break: break-word;">Here=E2=80=99s what y=
ou need to know.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helvetic=
a, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: b=
reak-word;"><strong style=3D"line-height: inherit;">What are Runes?&nbsp;</=
strong></p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-=
serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Run=
es Protocol is a project that <a href=3D"https://links.coinbase.com/u/click=
?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe5321483=
7&_e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHHn9U9nJ3VormCuEkplW0PtzEY9bdnebbdoB=
UkUjEWaCI8H-iY6u8ugJSLSSY8RZl6Cxy6rVXuxtdOdkPRocPBR1CIvjvVOY5Quh6EZ_S8n_Dsw=
gWnvRAgdc7S_6uDl8-zMLcSCGuAFrCuc0wn504b_CdBhGpasfFbDEXGalwn35ZhD0bqDMI_43zL=
v1gJqBBDYJ3eK-n4m516l8PXm-z7TytKMPfvCBLN38fNFdgnKW-B_UBIE6xR7-d9st04kjLVstP=
OSAH9mSLOpXNK2ZNjEoys9iCsDfGTCWdj8byXlcj5Rd8xP4CbGV7bkAS1JGUdxTFFGwTCWVJSXM=
D-EPGa7UiZ29AA3BXwUwy6xVSkPf3lYFRdGZxzKUbnr_lbl_1vS2OV8qMwYvsNIJT_HZPZq0I9C=
gF-4v" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: =
inherit; color: #1957F5;">allows for the creation of tokens</a> on top of t=
he Bitcoin blockchain =E2=80=94&nbsp;a common practice on networks like Eth=
ereum, Base, and Solana.&nbsp;</p><p style=3D"font-family: Helvetica Neue, =
Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-=
break: break-word;">It=E2=80=99s the creation of <a href=3D"https://links.c=
oinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b5645=
4415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNGxjBmQo88m9ot_pKubvjY9CasTO7=
4xPARwSI0Xfn3256PmvpK4LBHqoRfCEY4XPVzRJKsjFneUMEi-r8XcuMq1-eH1tu3wY51p-A363=
vbbLSq6ObiRtNRHsBHaz4hdLCpdFIs4_vIfJlUre9c5kcsX5qBqUjeMiMTaZnboG4lqI7nIag-7=
oaINA4A5Rhm82nWDs0kEl9-u2RPgyX3NHs8aQ4GkMlEAvrpj08vxXQ80qmn4g1ACcY2Vzwki4u_=
OjXMhaI3kgMABU2zVszTg5lnkR0mxOGUAxbp4hbhg23v2GMmpM1A6O_JXOIoe-eVYecKqgrskLV=
qR-MDSq1ottsGzUuyQOQUxH4p4SOEud_7OsTg6_jWh_pFAc2629n_sUsElbJLIgc1_w8ysSDGFs=
HLuVs-BZ7zF7VLTBb6BX-xvwXmrbCtyMRofB_KbvvJZk47i0HjdzfcqQFEfufx_uMTxiGgMQqWl=
6_DYv7NFf2vorxGO1KfoW1Rni9Ji-jazsa-4hGUHT7dAwuGYIasRHAvJZ5kfCrlgM6P7Q2UtQXv=
RxGlGTRi8V7s7GfW6zwMT6x8qIZir4Pe4fP0OssNmoHAPEHJGgrGoLRjoIwnKLwJJakyTnWzXWa=
_nUPP1BnuiCXooEQDB8afbRYwNHeaGD0Q_WAjrI85OV2TZpT2USEX6S" target=3D"_blank" =
rel=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5;"=
>Casey Rodarmor</a>, the developer behind the similar Bitcoin <a href=3D"ht=
tps://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizx=
MEcZdAYpZM-p-cUq1-k-jFrAyfPf44319UOeUuSBp2E0FuSzhHWUnc_mhptRw7cwpWVUc884JOP=
ix4bMR9i-l75tR4q6h0Ct5-_XO9UHOl2eT8kT66LxMSU6GEnpTxXfL_cTRUnuNqwj3Hgjrv8hda=
Kazw-XVCLay0k6JBZoH9mVXM-wncICa3k4ZZwacPwvfV1abkxqdf5cUnUD2DRBbEbaip80B4Krd=
jLMwnA5PHQ915enhi2N38cneJ1yh_RY7KFj5kx6thn097MeusbzGeZ7vmTLzXOerQZJzhi3tM5A=
j_x2r-qymr91Rs_whDpLZrECcmbYJXjLYjBZBzQRyjI3P6nsXG" target=3D"_blank" rel=
=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5;">Or=
dinals</a> NFT project, which makes it possible to =E2=80=9Cinscribe=E2=80=
=9D data on the smallest units of bitcoin.</p><p style=3D"font-family: Helv=
etica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height=
: 1.6; word-break: break-word;">Unlike the non-fungible (or unique) tokens =
created by Ordinals, Runes users are able to =E2=80=9Cetch=E2=80=9D data on=
to the blockchain and mint regular interchangeable tokens.&nbsp;</p><p styl=
e=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16p=
x 0px 0px; line-height: 1.6; word-break: break-word;">Besides helping send =
bitcoin transaction fees to a record high, Runes tokens are catching on wit=
h traders. Four days after launching, the most popular Rune had <a href=3D"=
https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNNdW7AeVwfTUvO=
IBxf5XfKoOXHoP_A0jNLBFAEFL0DEueik1c0jv-PIrtP5XTUERb5c8zs571hT2U5hPqXkyazE5e=
rtsBzyaNy1WXjcEQTnWjFY5-GlN9MYAxDzrpA4QGz-Y_19zdmc5cZJFHYLaqaK13xK30cJZ8eCi=
zjoRmSVNb9Md7hhna_aGlvI495iAFh-ZVzD0sWdpsZtYcLRyq6XtywmbLurv3h_sTdWPI_7Oo0U=
uRwVuzcbAYQyt9zSzng64TVDZVV16foGs07B8rHajdc8z3SYnRNxARBd0nGu6KtdZjKecebwKgS=
d2KbBRpg%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line=
-height: inherit; color: #1957F5;">nearly 20,000 holders</a> and a market c=
ap around $227 million.&nbsp;</p><p style=3D"font-family: Helvetica Neue, H=
elvetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-b=
reak: break-word;"><strong style=3D"line-height: inherit;">DeFi is on the h=
orizon for bitcoin</strong></p><p style=3D"font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-bre=
ak: break-word;">Unlike Ethereum, Bitcoin=E2=80=99s code was never designed=
 to run <a href=3D"https://links.coinbase.com/a/click?_t=3D3aca563719674181=
92255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ1=
25vfbNJrUJBIiUwJizxMEcZdAYpa5gAWrkDf20jvZqfpNr6joPol5nXEPT_-pzJLZJhKaI_Q51t=
SHlMhiBxVHIfl0BuTDPdGn-78dxQY8EbOX_OxJD2LQcCO59GW2IJC0WKHggl_I8uzQCczzKCSgL=
TOwIvGP4n5J__wjsR1URknQW29ACxRQX4rzazLyjsAq-veAVI9xhmeMHux92sBKStFbWrIqlOSN=
pcAs21nozJj1BLfxH7GcDLbrrCG4tCGVOt65bkHNnHQe99ydD57a7-X5x1Mq8EcgSpNgXKuirMt=
Cyd1Sbmd9W_YczPJqcCDLyu1-5na1Lz_P1k7JQLCY0ewbvSu0tocWvIBq2KZEKJwDrVxd" targ=
et=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: inherit; co=
lor: #1957F5;">smart contracts</a>. But now that projects like Ordinals and=
 Runes have illuminated possibilities for BTC beyond its traditional =E2=80=
=9Cstore of value=E2=80=9D role, developers are <a href=3D"https://links.co=
inbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454=
415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHHn9U9nJ3Vq5QF_uj0=
VovJnMDateA-qMy1xfvfGfRKT_fKlwbrPGJ3kDfhpyEkMOs8JcPsASIC3dSyy9vWz6kLn_XVIb-=
xA25ZQLS2wP5iC4jxdKux5C6fk33RZNHu-P8Uw2kW28q_0iHi0MdiF45J5lj02Y9VbkRpMCK3p_=
ffoV2VUw3e1TpLe5RcDN89uBTB64_d_fu1FKGjY0enzlZkmf91F9heTp3OLO1fr94A3cJSLZ8ID=
A0v24-jwj0x1uvrbAelfKS138HAjwwAdmyS4mXLOLbrUZpJB8IapkbvHzdlcu6i541uEVVQiVd_=
qm_X2lomxPT5lJDvEB1kiFLT9Dm2usCuIB94G4mxYyt8igqvRkz4VKUVHvij6CFF23moA4qEgsD=
JA%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-height: =
inherit; color: #1957F5;">racing to build</a> ways for users to bridge thei=
r bitcoin into protocols that are smart-contract compatible.&nbsp;</p><p st=
yle=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 1=
6px 0px 0px; line-height: 1.6; word-break: break-word;">Startups including =
Stacks (see the next item), <a href=3D"https://links.coinbase.com/u/click?_=
t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&=
_e=3DjK3nlWShgFefKJ125vfbNH0XXokzwWN3PIcMP5SrBRJ7iZNkt9y2XJxWEMHo86ZgHNEo6y=
VYxWnrVg_k7WSfEV5b1a0W2OEFwakmdi1wjvIYMtnrngfcrbu9S3qQyRwRjggkvi3fbbeYkJoRR=
uJjIjS3dWyCWX4Aizu4Mqm32fUI0su6YT1Se0HA5U0OFBPurrPwqgv2gWV4edhBJjPz7OhtLWdU=
5x5VYuS8U1SCnUvU3eMfmZi4uMblH8Jj75_xo5cNQhkTubsrFE38EWdmii9__KodKGeYfUpfIU1=
yuxx8BaTUpFuzABgMBm5erJrz" target=3D"_blank" rel=3D"noopener noreferrer" st=
yle=3D"line-height: inherit; color: #1957F5;">CoreDao</a>, <a href=3D"https=
://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D82=
04095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNEIW9moj0w-QUQ0qAJB=
xDmRrdzi1zh9pqUYl-h_G6sZ6PNM7GpTKG1xa7U84tEFA5rpX6J5scpbpYb-rgosUVneGihwCAv=
9sx9tRxLO6a-PlurxOcFnP_dINRNof4YrO_NRFQbue84qJ2DookcSwXUmyrwcjI0R3W9_fGS8IN=
teSouoPQe2P8dKidBhXOTcZmMTsHbDaPEK41vNXl5QuBiQ3U_Xa6jO9jKYfeeWXrsxjDAUkPjaI=
ubop1fBzKSCo4uWzF7bu0DxLAq-qE4AL3xsANG1lK7ZqbDtUbxKVEfEza5fC02PoYs4EogSXLFL=
z8w%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-heig=
ht: inherit; color: #1957F5;">Lorenzo Protocol</a>, and <a href=3D"https://=
links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D82040=
95b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNBtS3Uoa_MrRgj9rPZWlT6=
GytvQYhHXnrnmS_XlwFjd_QxmMic7dX_dHqhOm5wdHmbL0ZIx-vv-Kc-PzdpcKVtRWMhHGSxJrH=
flmAB4OZjIa-vEjvOSxDY5J1ussVCa8Dd-MYvfj8P7WgeZ-Ks_e0vgXPwo8xD2wlFSsmwIO-ngQ=
ibXG3HBYe8QzD71zrRRnUsKe2FKWDZMbOzOQZzBAfi15X308PakR6wk-a8uF0mKqcomwxNJwZIn=
sMWSOmPH1npmmf-g5JOk4FOuCnEqlHiu9Prve_vbKQqiZ6WMTy2Sb" target=3D"_blank" re=
l=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5;">L=
everFi</a> are building solutions that would allow users to stake their bit=
coin on other blockchains or use bitcoin in <a href=3D"https://links.coinba=
se.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a=
26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpa5gAWrkDf20j=
vZqfpNr6jo_sA0fm-2HyimTLv3gUiNZDpBO-CHCMbR8GtDg4UMaERSZHYoVz3FOu8wO5EG9ss--=
le_0FDxi0opxhNGVU54EZhyNP0PJAJwsf32AyOjf_m7Fh_V_AgVKP8EWEBUY367NJCFc6Oll7wW=
RPlppgRvPyhSuq919JwZCEm7QWmNxgfHlDOBsoHBMCV4GvUdBVv3dfaa0MFUSQJdzJu_OaRV3Pf=
Tw06MPafe5DqQ5mmGuFEvVm1KTi0wtvJv4af251FL4TPbbb8yk9IlDwTxR23EV3cZq7TkodBJVL=
SBFz1Ya3c%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-h=
eight: inherit; color: #1957F5;">DeFi</a> protocols.&nbsp;</p><p style=3D"f=
ont-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px =
0px; line-height: 1.6; word-break: break-word;"><strong style=3D"line-heigh=
t: inherit;">One of the biggest Bitcoin layer 2 networks is making major ch=
anges</strong></p><p style=3D"font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-wor=
d;">Because of the way it was designed, Bitcoin has much slower transaction=
 speeds than many newer cryptocurrencies. In an effort to speed things up, =
a variety of =E2=80=9Clayer 2=E2=80=9D blockchains like Stacks and the <a h=
ref=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e968=
9713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBI=
iUwJizxMEcZdAYpZ5tSJeJxghVr7gB7Bqs4080jV2kwSlO1gAfQnY06ENiGEHD_Wks131GjWcPu=
bvsuWoqciAJ2pGn8t_wrS19euAXxd8TaHp40-Rp99NZPHZljtNnHgnUtT_aFL7RBsp-6P8jqXy5=
rlhjjlYt-q1V_3GEvwtO2QQHXUz58t47DF5DwDA-L5HghBaEqM0KMHjwPxPdYLApvN_NwrtgYD0=
oOz9sFdwBMDQup8v2d-fKqj1hJaAVvV4nEg5dUUAobnIYjdwu6J3G80Povt8a6yDPiynlFdkjWP=
thBGcs5je_WeUiNBz1CNat0rryDTbaTgdKYYFNS0JkEVSbBVMwnbxs2lx" target=3D"_blank=
" rel=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957F5=
;">Lightning Network</a> have been developed to move some of the traffic of=
f of the main network and onto speedier parallel chains.&nbsp;</p><p style=
=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px=
 0px 0px; line-height: 1.6; word-break: break-word;">Currently, Stacks tran=
sactions can only be settled when miners add a new block to the Bitcoin blo=
ckchain =E2=80=94 approximately every ten minutes =E2=80=94 which is way to=
o slow for fast-moving applications like DeFi.&nbsp;</p><p style=3D"font-fa=
mily: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px 0px; l=
ine-height: 1.6; word-break: break-word;">But the new <a href=3D"https://li=
nks.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095=
b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNO4HrBceI6X6qtOyxxEQefTD=
gjl3nGtHMMcjGuSr1W0I0sdVL7LsyfTsiubsIo6a-Oz_vdYhHl2c2fbjBpHZRNrfgbMs1hgSmeP=
K_q9DijUTkuBU8wHZc-8EdBVcR2S-P0Xeo2BVUAx80Hz6USkRfqLhOkzEyCh7RUXlMMphqqDHTZ=
Z2Gk5nh3_nrrcr6cIVW3A0idfHBcji4NtRtu6RdV4ERSHaJ3hIIvsQVaIfotz7nFUHYd82DMri9=
Kh2mWRwK5Z-NBHkNsec6b9tYudOk2mCmk88oJ8nq-l6HHVfZTLYx-ZXpj0azTyOViEjy1dcWCT2=
FHEZNSNYN5_OnoaWE6MfK9Z3lV6_2Em6LTT7F9UB" target=3D"_blank" rel=3D"noopener=
 noreferrer" style=3D"line-height: inherit; color: #1957F5;">=E2=80=9CNakam=
oto=E2=80=9D upgrade</a>, which is <a href=3D"https://links.coinbase.com/u/=
click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53=
214837&_e=3DjK3nlWShgFefKJ125vfbNABnwwZI47mZVSnuRtCg46yP570kN6-lSS4dk92LGR2=
5so4qz2iOcsBe5zb2Mm2sAXDt0BE1WWTgAul5FStCEOZjJcuQy9IgcDPYV9x-bmFaJgE9oE0Flu=
ML-A9QU68hOxUqjJIceTmcQpAMZOqGM63FjNbxyJSyLBPArJ2eYPxK4HaPJI3Y2QPhTdv1tJEQa=
69pP1-HlcJPs9vl5koP0z895MSWeFDm5PgWlYowSkIsbgm5UejiedAwmFFKzHkRhIVH9acGzuUv=
5ayCKjRwIk_DYMxEtDx-Mg0AIywO9yF4qjyGXNYZXW0D7EtjRVI6Q_l6Q5cVGl5Z8ch3EQuOBKv=
QynL26qjOl5ki5-xkSbV7" target=3D"_blank" rel=3D"noopener noreferrer" style=
=3D"line-height: inherit; color: #1957F5;">being rolled out</a> over the ne=
xt month, will introduce parallel transaction processing, allowing Stacks m=
iners to produce multiple Stacks blocks in between each Bitcoin block. In a=
ddition to faster transactions, users will be able to bridge their BTC to S=
tacks and receive a new token, stBTC, that=E2=80=99s compatible with smart =
contracts.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helvetica, Ari=
al, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-w=
ord;">=E2=80=9CWhat I'm feeling the most proud of is this may be a massive =
improvement to Bitcoin UX for normal people,=E2=80=9D said Stacks creator M=
uneeb Ali. =E2=80=9CPeople want a way to use their BTC.=E2=80=9D</p><p styl=
e=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16p=
x 0px 0px; line-height: 1.6; word-break: break-word;"><strong style=3D"line=
-height: inherit;">The bottom line=E2=80=A6</strong>&nbsp;</p><p style=3D"f=
ont-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 16px 0px =
0px; line-height: 1.6; word-break: break-word;">For years now, the prevaili=
ng bitcoin narrative has centered around how well it functions as =E2=80=9C=
digital gold,=E2=80=9D or a "secure", inflation-resistant store of value. A=
nd while more people than ever have access to BTC via innovations like ETFs=
, developers are increasingly finding ways to innovate on the original cryp=
tocurrency.&nbsp;</p><p style=3D"font-family: Helvetica Neue, Helvetica, Ar=
ial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-=
word;">In fact, in the days since the halving, bitcoin scaling solutions <a=
 href=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9=
689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNHGbg=
4MKbVXeHHn9U9nJ3VrftP89rf7wqjnn4T2emDhwOZtZhZ6_svWDeUH6mlmcpePzEIEvQagZM8qx=
LoD9wVIbaLGEqQfvbkV-euS7GFW2PeVEQcDiySjVhRT6BrlwykNMELD8Vb-DZ4kh_XTQ7XQZQEo=
mCZArGCfNk0URAZNLLd9tLgJGc-y1iKUZ31jgmT_Fb1gJVNEfFj38qVgRCyY5R19xEWviBkZNFC=
o_-pZsgyz-RMlmfmZa8pGdk65vwEPCI3ipJ01uYk-BxBeftgolSWaQ-KB3JjrS-pcBgxekEPFy3=
_vveQu5ti1wrzUJIvc3McnsBM-IhwDHLfDCd3Mtq6wFBlctY2OCrtWetHIiLP9MIY4voUWrDsNU=
LeQMA2xlPSXhS4_D6Q0gySs-1SB1J0f1uCQ7aqHfBd89eZkzAtnJKWJ8HdRLSaw9g89GPabbByL=
QY8KmlnfRI-km_8LTq_5O-j4PNUddVFsy3PfRKf2BerIkdqSpVOcb5TOs42y_KIcn8jKbX-oEEZ=
bMGjk%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"line-heigh=
t: inherit; color: #1957F5;">have outpaced bitcoin</a>,&nbsp;with Stacks=E2=
=80=99 STX token up roughly 10% since Friday. </p><div class=3D"cta_button"=
 style=3D"line-height: inherit; margin: 24px 0px 0px; padding: 0px; width: =
50%;"><!--[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0=
" border=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table=
-lspace:0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"le=
ft"> <v:roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:=
schemas-microsoft-com:office:word" ses:no-track href=3D"https://links.coinb=
ase.com/a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415=
a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpbflKVJs7CEp=
w3A0hLvz8XmIUt9XQfW3WMVO1b8_nTZrYjtWL1p9rCf9s1aY3qGsDc2n3HOWQZpWHzbw_DXvTku=
SonEkx2Ioq787O2aBDS1H9xA3y-oR_0jaB0pu2TDbmD2QpY015jkCihkwTauYjAMbfRTF5TKCwm=
O6MR5D0iKi1KIA_YKo9YdpwAP9KjR7wKlFEo8sRam3rg2QrdMHWvfbeCCp_D5TTSAhiWtWaAv1W=
QE8JUx-uTTamfkZ4C5vT3PVxm5RilkllvOMAsAt2-UObmpfGj-tDbt9uyHOahqqcLo-WBwF-_ZI=
UC4i1s74pTzpsfDQAGHiheJ7IWgf4HVALUwhIF18TXdCymR_yXC5g%3D%3D" style=3D"width=
:350pt;v-text-anchor:middle;" arcsize=3D"17%" stroke=3D"false" fillcolor=3D=
"#0052ff"> <w:anchorlock/><v:textbox inset=3D"0,0,0,0"><center style=3D"fon=
t-family: Helvetica Neue, Helvetica, Arial, sans-serif;"><![endif]--><a hre=
f=3D"https://links.coinbase.com/a/click?_t=3D3aca56371967418192255878e96897=
13&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiU=
wJizxMEcZdAYpbflKVJs7CEpw3A0hLvz8XmIUt9XQfW3WMVO1b8_nTZrYjtWL1p9rCf9s1aY3qG=
sDc2n3HOWQZpWHzbw_DXvTkuSonEkx2Ioq787O2aBDS1H9xA3y-oR_0jaB0pu2TDbmD2QpY015j=
kCihkwTauYjAMbfRTF5TKCwmO6MR5D0iKi0pR9JXDIbPCCDy2r-DtPpPEQ6BZpB1cweTsV3GECg=
NbK5uEsg4LbRLkDekrP9ADDd7DeJ-kTQ5mz3yxY9Y2BvGHdhSy66tQ5631nWy2adqKNuzHqAANJ=
9s7n6-9hUrYeTXM6ns0vPSBt5MNyshOIxeiTADWCSiv-4pR3l2H_c0KjGs_AqjLz6p-XyBZyCP0=
zQ%3D%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=3D"display: b=
lock; margin: 0px; line-height: 1.2; font-size: 16px; text-decoration: none=
; color: rgb(255, 255, 255); background-color: rgb(0, 82, 255); border-radi=
us: 30px; text-align: center; padding: 18px 0px;"><strong style=3D"line-hei=
ght: inherit;">Learn more about layer 2s</strong></a><!--[if mso]></center>=
</v:textbox></v:roundrect></td></tr></table><![endif]--></div><table width=
=3D"100%" role=3D"presentation" style=3D"line-height: inherit; font-family:=
 Helvetica Neue, Helvetica, Arial, sans-serif; table-layout: fixed; vertica=
l-align: top; border-spacing: 0px; border-collapse: collapse; min-width: 10=
0%; text-size-adjust: 100%;" valign=3D"top"><tbody style=3D"line-height: in=
herit;"><tr style=3D"line-height: inherit; font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif; border-collapse: collapse; vertical-align: top;"=
 valign=3D"top"><td valign=3D"top" style=3D"line-height: inherit; font-fami=
ly: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse: collapse=
; word-break: break-word; vertical-align: top; min-width: 100%; text-size-a=
djust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cell=
spacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; table-layout: fixed; vertical-align: top; border-spacing: 0px; bo=
rder-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); width: 1=
00%;" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=3D"li=
ne-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-ser=
if; border-collapse: collapse; vertical-align: top;" valign=3D"top"><td val=
ign=3D"top" style=3D"line-height: inherit; font-family: Helvetica Neue, Hel=
vetica, Arial, sans-serif; border-collapse: collapse; word-break: break-wor=
d; vertical-align: top; text-size-adjust: 100%;"><span style=3D"line-height=
: inherit;"></span></td></tr></tbody></table></td></tr></tbody></table><div=
 style=3D"line-height: inherit;"><table style=3D"line-height: inherit; font=
-family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top;=
 border-collapse: collapse; margin: 0px; padding: 0px;" valign=3D"top"><tbo=
dy style=3D"line-height: inherit;"><tr style=3D"line-height: inherit; font-=
family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; =
border-collapse: collapse;" valign=3D"top"><td style=3D"line-height: inheri=
t; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collap=
se: collapse; margin: 0px; padding-right: 11px; vertical-align: middle;" va=
lign=3D"middle"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/us=
ers/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca563719674181922558=
78e9689713/dot-1.5x.png" width=3D"12" height=3D"12" style=3D"line-height: i=
nherit; display: block; width: 12px; height: 12px;"></td><td style=3D"line-=
height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif;=
 border-collapse: collapse; margin: 0px; padding: 0px; vertical-align: midd=
le;" valign=3D"middle"><p style=3D"line-height: inherit; font-family: Helve=
tica Neue, Helvetica, Arial, sans-serif; margin: 0px; font-size: 16px; lett=
er-spacing: 0.075em;"><strong style=3D"line-height: inherit;"> NUMBERS TO K=
NOW </strong></p></td></tr></tbody></table></div><h1 style=3D"line-height: =
inherit;"><strong style=3D"line-height: inherit;">$8,450</strong></h1><p st=
yle=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margin: 1=
6px 0px 0px; line-height: 1.6; word-break: break-word;">Approximate <a href=
=3D"https://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e968971=
3&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbND8PPO0XxQ=
Wxr2zK-BwgiEUyxXTKzFtQ642FAEgi4SvltuOoZ1hjXcnxMiZeXIiwadHxAmRFZiCvPD1v3sqHu=
5_c7xxB9gMIEbh0jgzS58VVFV4-KRzUfHYPS3qUDVl2NbupjcBkfV9TkaBFW5YsBPLQHztZ9Kpr=
dZls0JmTXHJdCf8fduyqL8zst0RwZ4HTDKU6VuZl7Q0oSAYLpB38kxzImRmJ2C0N3Yh5wKJzzAt=
I3wKxIWZ7W7KP3cHLYYawrx9o0RCDiNG26N61_Myu8pgcXi1oLp8EDObi0mdnyJxj2mU_qMT0k7=
2501xinL6L60ngp8UX7tmX6dSKiTMkb2Ojeb3_TpTI6w9Ed5JQOlyy9Tf6BCEj_PyUXzlkyyI5A=
EGVtqQ3WXYrHHBRpgK1xkRT0xRGiiPhlkCmCgqTta7c" target=3D"_blank" rel=3D"noope=
ner noreferrer" style=3D"line-height: inherit; color: #1957F5;">cost</a> of=
 a =E2=80=9Cphygital=E2=80=9D Louis Vuitton leather varsity jacket designed=
 by Pharrell Williams, the fashion house=E2=80=99s creative director. The j=
acket is being sold as physical apparel and an accompanying NFT that will e=
nable holders to buy the garment on a =E2=80=9Ctoken-gated=E2=80=9D website=
.</p><h1 style=3D"line-height: inherit;"><strong style=3D"line-height: inhe=
rit;">71</strong></h1><p style=3D"font-family: Helvetica Neue, Helvetica, A=
rial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break=
-word;">Consecutive number of days that BlackRock=E2=80=99s spot bitcoin ET=
F <a href=3D"https://links.coinbase.com/u/click?_t=3D3aca563719674181922558=
78e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbN=
MDue8DyDoSby7RxPtH2HTAy89CG3oLSfXfETykLTWnMO9XBL--fbRMnVZIgbuC6F15jFRf02-je=
7w0PgbI5bCaFMCGBmenMI53_74ys7LcE3rVz2eNyqrRjQaFIt2CEOhvVOYOoeIkglpl229Fo2dS=
A9n_UqQdxivXJft2jvrrnVDeM5QeEs89j5iuWazubFdz4gIaHhOe4CexzMlCDRwC8GBzg--zi23=
-TE8j84oRnvV7DfINp9iOYJVAqaTglcWkJj8JXoLxFIe3sLfKAdZT2pnjwAle0wKIChxhLyp4_C=
stTIVS_uZHAbnIl7WnGfhtlLkoTQi3q5EgBr3fi9jTE76rOXfKBBZKjowJkqkrR" target=3D"=
_blank" rel=3D"noopener noreferrer" style=3D"line-height: inherit; color: #=
1957F5;">recorded</a> net inflows, as of Tuesday. That run places the firm=
=E2=80=99s IBIT fund in the top 10 of exchange-traded funds with the longes=
t inflow streaks. At the top of that list is the JPMorgan Equity Premium In=
come ETF (JEPI), with 160 straight days of inflows.</p><h1 style=3D"line-he=
ight: inherit;"><strong style=3D"line-height: inherit;">2.5%</strong></h1><=
p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; margi=
n: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Percentage of N=
FT holders =E2=80=9Cresponsible for 50 percent of all transactions in secon=
dary NFT markets=E2=80=9D between March 2021 and 2022, <a href=3D"https://l=
inks.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D820409=
5b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNL5uK-bwn8ilgo_RgRwhmE-=
NZGp5fZVD3qiSeJodf_7kGQ56qAzOOykmuNwd9aMF8ncXVtFU2hIDmWQms3GSctcx4xlDQaK63B=
b9xxarDY73-7dAg5UTZ0TdfxaN2VUJb4pzBw3ebX_IoHK2Iv8NvzaVV_e9i9auWnL2LmHo_UhdK=
roqL5meycUvSNZuipzLqTrSNPon5YS1H9R0QfleU7VWiP93QpGZ4lzkgqhZcTgYbEiPbH5FaVLJ=
1Js1eU1To3usARGin3JdwMeLxTO4Puhepu-4H699gxQkGNyyCwwVgH-Jz_ZUJlmZdmYQH9wsP5M=
qhOittOtJKTU4dK7770mTOb1cHqKg2yE-rkWuStLe" target=3D"_blank" rel=3D"noopene=
r noreferrer" style=3D"line-height: inherit; color: #1957F5;">according to =
a new report</a> published by the University of Chicago=E2=80=99s Booth bus=
iness school. These power traders typically =E2=80=9Ctarget[ed] collections=
 that were likely to succeed by entering new mints relatively late, and onl=
y when the collection had already picked up substantial sales momentum.=E2=
=80=9D</p><h1 style=3D"line-height: inherit;"><strong style=3D"line-height:=
 inherit;">0.15%</strong></h1><p style=3D"font-family: Helvetica Neue, Helv=
etica, Arial, sans-serif; margin: 16px 0px 0px; line-height: 1.6; word-brea=
k: break-word;">The planned fee for the Bitcoin Mini Trust, a <a href=3D"ht=
tps://links.coinbase.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=
=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNHGbg4MKbVXeHH=
n9U9nJ3Vrvsf1Yf1f5ZVM0tZIWcH770o0vtvh9tTWt1hhrDzPQjoy_IqYW4nCHb8NOMQwsjn5ql=
z5Mj3DDK_tx-LQiDMCoY6Bg_FA-yBHOIj5s8SIky6VIxXP89cGTo0We0JKpr75_uobG3r4hsHxK=
-6rkdFc833HdxAEmW5w4VmGmNp83qPZbycgoCQUZBIiSLfkKdK22fBjP6W5ZMVXNqYWuUrahWtl=
2tqFjWZoguaS_mMKPwt9_YxaakSmPtnhecbini3SnMb0yv9ZCgXtWQbFt__rXayXjQohzltKLla=
2f-s1O3V9g5wKjEh3ZlH1_TRfRg2LVL8qlxsqG-S87LsBA7QyM-rgO5EJ5g_IYlbP83oBiSvmc1=
yaYmQeHOkPM_RuFZbo%3D" target=3D"_blank" rel=3D"noopener noreferrer" style=
=3D"line-height: inherit; color: #1957F5;">new BTC ETF product</a> from Gra=
yscale. Grayscale also currently offers the Grayscale Bitcoin Trust (GBTC),=
 a spot bitcoin ETF, with a fee of 1.5%, which is the highest among the BTC=
 ETFs that launched this year. The new ETF=E2=80=99s 0.15% fee would, by co=
ntrast, be the lowest, reports CoinDesk. </p><table width=3D"100%" role=3D"=
presentation" style=3D"line-height: inherit; font-family: Helvetica Neue, H=
elvetica, Arial, sans-serif; table-layout: fixed; vertical-align: top; bord=
er-spacing: 0px; border-collapse: collapse; min-width: 100%; text-size-adju=
st: 100%;" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; border-collapse: collapse; vertical-align: top;" valign=3D"top"><=
td valign=3D"top" style=3D"line-height: inherit; font-family: Helvetica Neu=
e, Helvetica, Arial, sans-serif; border-collapse: collapse; word-break: bre=
ak-word; vertical-align: top; min-width: 100%; text-size-adjust: 100%; padd=
ing: 48px 0px;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" wid=
th=3D"100%" align=3D"center" role=3D"presentation" style=3D"line-height: in=
herit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; table-lay=
out: fixed; vertical-align: top; border-spacing: 0px; border-collapse: coll=
apse; border-top: 2px solid rgb(222, 224, 226); width: 100%;" valign=3D"top=
"><tbody style=3D"line-height: inherit;"><tr style=3D"line-height: inherit;=
 font-family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse=
: collapse; vertical-align: top;" valign=3D"top"><td valign=3D"top" style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; border-collapse: collapse; word-break: break-word; vertical-align=
: top; text-size-adjust: 100%;"><span style=3D"line-height: inherit;"></spa=
n></td></tr></tbody></table></td></tr></tbody></table><div style=3D"line-he=
ight: inherit;"><table style=3D"line-height: inherit; font-family: Helvetic=
a Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-collapse:=
 collapse; margin: 0px; padding: 0px;" valign=3D"top"><tbody style=3D"line-=
height: inherit;"><tr style=3D"line-height: inherit; font-family: Helvetica=
 Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-collapse: =
collapse;" valign=3D"top"><td style=3D"line-height: inherit; font-family: H=
elvetica Neue, Helvetica, Arial, sans-serif; border-collapse: collapse; mar=
gin: 0px; padding-right: 11px; vertical-align: middle;" valign=3D"middle"><=
img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/6=
69d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/dot-1.=
5x.png" width=3D"12" height=3D"12" style=3D"line-height: inherit; display: =
block; width: 12px; height: 12px;"></td><td style=3D"line-height: inherit; =
font-family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse:=
 collapse; margin: 0px; padding: 0px; vertical-align: middle;" valign=3D"mi=
ddle"><p style=3D"line-height: inherit; font-family: Helvetica Neue, Helvet=
ica, Arial, sans-serif; margin: 0px; font-size: 16px; letter-spacing: 0.075=
em;"><strong style=3D"line-height: inherit;"> TOKEN TRIVIA </strong></p></t=
d></tr></tbody></table><p style=3D"font-family: Helvetica Neue, Helvetica, =
Arial, sans-serif; margin: 5px 0px 0px; font-size: 32px; line-height: 1.26;=
 word-break: break-word;"><strong style=3D"line-height: inherit;">When is t=
he next Bitcoin halving?</strong></p></div><div style=3D"line-height: inher=
it; margin-top: 16px;"><table style=3D"font-family: Helvetica Neue, Helveti=
ca, Arial, sans-serif; vertical-align: top; border-collapse: collapse; line=
-height: 1.6; word-break: break-word;" valign=3D"top"><tbody style=3D"line-=
height: inherit;"><tr style=3D"line-height: inherit; font-family: Helvetica=
 Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-collapse: =
collapse;" valign=3D"top"><td style=3D"line-height: inherit; font-family: H=
elvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-co=
llapse: collapse; padding-right: 12px;" valign=3D"top"><strong style=3D"lin=
e-height: inherit;">A</strong></td><td style=3D"line-height: inherit; font-=
family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; =
border-collapse: collapse;" valign=3D"top">2025</td></tr><tr style=3D"line-=
height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif;=
 vertical-align: top; border-collapse: collapse;" valign=3D"top"><td style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; vertical-align: top; border-collapse: collapse; padding-right: 12=
px; padding-top: 12px;" valign=3D"top"><strong style=3D"line-height: inheri=
t;">B</strong></td><td style=3D"line-height: inherit; font-family: Helvetic=
a Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-collapse:=
 collapse; padding-top: 12px;" valign=3D"top">2026</td></tr><tr style=3D"li=
ne-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-ser=
if; vertical-align: top; border-collapse: collapse;" valign=3D"top"><td sty=
le=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, =
sans-serif; vertical-align: top; border-collapse: collapse; padding-right: =
12px; padding-top: 12px;" valign=3D"top"><strong style=3D"line-height: inhe=
rit;">C</strong></td><td style=3D"line-height: inherit; font-family: Helvet=
ica Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-collaps=
e: collapse; padding-top: 12px;" valign=3D"top">2027</td></tr><tr style=3D"=
line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-s=
erif; vertical-align: top; border-collapse: collapse;" valign=3D"top"><td s=
tyle=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial=
, sans-serif; vertical-align: top; border-collapse: collapse; padding-right=
: 12px; padding-top: 12px;" valign=3D"top"><strong style=3D"line-height: in=
herit;">D</strong></td><td style=3D"line-height: inherit; font-family: Helv=
etica Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-colla=
pse: collapse; padding-top: 12px;" valign=3D"top">2028</td></tr></tbody></t=
able></div><p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-=
serif; margin: 16px 0px 0px; line-height: 1.6; word-break: break-word;">Fin=
d the answer at the end of the email.</p><div class=3D"cta_button" style=3D=
"line-height: inherit; margin: 24px 0px 0px; padding: 0px; width: 50%;"> <!=
--[if mso]><table width=3D"100%" cellpadding=3D"0" cellspacing=3D"0" border=
=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-lspace:=
0pt;mso-table-rspace:0pt;"><tr><td style=3D"padding:0;" align=3D"left"> <v:=
roundrect xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-=
microsoft-com:office:word" ses:no-track href=3D"https://links.coinbase.com/=
a/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe=
53214837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpaydFBTokOfhyLPACkv4=
exWM-0nOyfQfq2chw3CsKASMXxtglR4Pl9Cq3UGj_1vIobZcCGNbIZjS2n4_GD0bknCpIouP_iu=
6yPdJcS1yWCui6e6JYT4AbkMgLHfRBrr21VEW-bT8FdAsQZ521gdaetxmW8L9eJ4a4tKTThPJ4Q=
9Krhicu3gumdIsMXa6TeVvqhUYl8ZMS8QtrTdqGElQV02nB2e7SC_SwzKq5Yd9bMkJv8kwM18pv=
d3E2WCGFYRsESewWQcYIj2oSxXsuyw5C_XMss1Ty6MzakzMbdlYlOJsRJZb49lys85hf-ia4Y2f=
Cc03Ib-pHvhk5vyFxK2JYC8" style=3D"width:350pt;v-text-anchor:middle;" arcsiz=
e=3D"17%" stroke=3D"false" fillcolor=3D"#0052ff"> <w:anchorlock/><v:textbox=
 inset=3D"0,0,0,0"><center style=3D"font-family: Helvetica Neue, Helvetica,=
 Arial, sans-serif;"><![endif]--><a href=3D"https://links.coinbase.com/a/cl=
ick?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe5321=
4837&_e=3DjK3nlWShgFefKJ125vfbNJrUJBIiUwJizxMEcZdAYpaydFBTokOfhyLPACkv4exWM=
-0nOyfQfq2chw3CsKASMXxtglR4Pl9Cq3UGj_1vIobZcCGNbIZjS2n4_GD0bknCpIouP_iu6yPd=
JcS1yWCui6e6JYT4AbkMgLHfRBrr21VEW-bT8FdAsQZ521gdaetxgXES29WjFwNFDWBnJ92Oior=
9jRfSbHHTAe9ACu_nB1qkrV_vJqrqXYPNJvIen4ufTcRH5l9k0hLePJ4V_Y5yHOkmp82qyr_9S0=
HkK9MM3SUXoWXpZvFZ9GUIhmUaYMsErkcFwLCWo-McRiMQjFbHZZDYpZIY3yrQt2xU0kGrfPt-U=
Qpj9KlAdq8t_Pvh4ZtU" target=3D"_blank" rel=3D"noopener noreferrer" style=3D=
"display: block; margin: 0px; line-height: 1.2; font-size: 16px; text-decor=
ation: none; color: rgb(255, 255, 255); background-color: rgb(0, 82, 255); =
border-radius: 30px; text-align: center; padding: 18px 0px;"><strong style=
=3D"line-height: inherit;">Learn halving basics</strong></a><!--[if mso]></=
center></v:textbox></v:roundrect></td></tr></table><![endif]--></div> <tabl=
e width=3D"100%" role=3D"presentation" style=3D"line-height: inherit; font-=
family: Helvetica Neue, Helvetica, Arial, sans-serif; table-layout: fixed; =
vertical-align: top; border-spacing: 0px; border-collapse: collapse; min-wi=
dth: 100%; text-size-adjust: 100%;" valign=3D"top"><tbody style=3D"line-hei=
ght: inherit;"><tr style=3D"line-height: inherit; font-family: Helvetica Ne=
ue, Helvetica, Arial, sans-serif; border-collapse: collapse; vertical-align=
: top;" valign=3D"top"><td valign=3D"top" style=3D"line-height: inherit; fo=
nt-family: Helvetica Neue, Helvetica, Arial, sans-serif; border-collapse: c=
ollapse; word-break: break-word; vertical-align: top; min-width: 100%; text=
-size-adjust: 100%; padding: 48px 0px;"><table border=3D"0" cellpadding=3D"=
0" cellspacing=3D"0" width=3D"100%" align=3D"center" role=3D"presentation" =
style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Aria=
l, sans-serif; table-layout: fixed; vertical-align: top; border-spacing: 0p=
x; border-collapse: collapse; border-top: 2px solid rgb(222, 224, 226); wid=
th: 100%;" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=
=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sa=
ns-serif; border-collapse: collapse; vertical-align: top;" valign=3D"top"><=
td valign=3D"top" style=3D"line-height: inherit; font-family: Helvetica Neu=
e, Helvetica, Arial, sans-serif; border-collapse: collapse; word-break: bre=
ak-word; vertical-align: top; text-size-adjust: 100%;"><span style=3D"line-=
height: inherit;"></span></td></tr></tbody></table></td></tr></tbody></tabl=
e> <p style=3D"font-family: Helvetica Neue, Helvetica, Arial, sans-serif; m=
argin: 0px; line-height: 1.6; word-break: break-word;"><strong style=3D"lin=
e-height: inherit;">Trivia answer</strong></p><table style=3D"font-family: =
Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; border-c=
ollapse: collapse; margin: 12px 0px 0px; line-height: 1.6; word-break: brea=
k-word;" valign=3D"top"><tbody style=3D"line-height: inherit;"><tr style=3D=
"line-height: inherit; font-family: Helvetica Neue, Helvetica, Arial, sans-=
serif; vertical-align: top; border-collapse: collapse;" valign=3D"top"><td =
style=3D"line-height: inherit; font-family: Helvetica Neue, Helvetica, Aria=
l, sans-serif; vertical-align: top; border-collapse: collapse; padding-righ=
t: 12px;" valign=3D"top"><strong style=3D"line-height: inherit;">D</strong>=
</td><td style=3D"line-height: inherit; font-family: Helvetica Neue, Helvet=
ica, Arial, sans-serif; vertical-align: top; border-collapse: collapse;" va=
lign=3D"top">2028</td></tr></tbody></table><table style=3D"line-height: inh=
erit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-a=
lign: top; border-collapse: collapse; margin: 48px 0px 0px;" valign=3D"top"=
><tbody style=3D"line-height: inherit;"><tr style=3D"line-height: inherit; =
font-family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: =
top; border-collapse: collapse;" valign=3D"top"><td style=3D"line-height: i=
nherit; font-family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical=
-align: top; border-collapse: collapse; text-align: left;" align=3D"left" v=
align=3D"top"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/user=
s/Integrators/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878=
e9689713/Rebrand%20Assets/coinbase_footer_wordmark.png" alt=3D"Coinbase" he=
ight=3D"26" style=3D"line-height: inherit; display: block; height: 26px; ma=
rgin-bottom: 24px;"></td></tr><tr style=3D"line-height: inherit; font-famil=
y: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: top; borde=
r-collapse: collapse;" valign=3D"top"><td style=3D"line-height: inherit; fo=
nt-family: Helvetica Neue, Helvetica, Arial, sans-serif; vertical-align: to=
p; border-collapse: collapse;" valign=3D"top"><a href=3D"https://links.coin=
base.com/u/click?_t=3D3aca56371967418192255878e9689713&_m=3D8204095b5645441=
5a26c6bfe53214837&_e=3DjK3nlWShgFefKJ125vfbNA5MbZVnBxSu6VTTJbkRENnZH8a5K49n=
LeganUq9CdVW4sa0rIBqdlUPf9VHhEGnwATES3p4cpiLa2RlMpIoUyEuCT3YCRaXEr6NDgh4W6z=
9Kqv6IrCahixKymtwJBcmTpnWXyMJd_xiUUGs_n449XYuZVLDCN9VSN3sISnbsY97pdggG4rBv4=
ZyOGY0xgiuuo-RJ7NhkLn2hKavm-GfhYWSq1xwbvCSi4C2ALVhNoY8zZw-cuXW1G324H8jZJZqf=
MUWtneaCV3lK2GmjWJxqeZ9XC1Jx0KfAUMTy0TtYgJH3LbIYrnBcr2kHf7CFP_Irbxj8MnXivAA=
datpzCkLrkUkivT-9Kglb_ds9GkD0qPq" title=3D"coinbase ios app" target=3D"_bla=
nk" rel=3D"noopener noreferrer" style=3D"line-height: inherit; color: #1957=
F5;"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/public/users/Integra=
tors/669d5713-9b6a-46bb-bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/=
Icons/app_apple.png" alt=3D"Download on iOS App store" height=3D"46" style=
=3D"line-height: inherit; display: block; height: 46px; margin-right: 8px;"=
></a></td><td style=3D"line-height: inherit; font-family: Helvetica Neue, H=
elvetica, Arial, sans-serif; vertical-align: top; border-collapse: collapse=
;" valign=3D"top"><a href=3D"https://links.coinbase.com/u/click?_t=3D3aca56=
371967418192255878e9689713&_m=3D8204095b56454415a26c6bfe53214837&_e=3DjK3nl=
WShgFefKJ125vfbNL3k2cnPIqE1cWqxoJOhAAB4j6cq-rJMGw2qEOuxMiYarhK88iyUET0Hsnn0=
uEBwnPaj18kFET4EmCty084k1LmEymx8OEUMwAlQAQ8F-rt3EmvxJ9xcPd1Eq6A0wy3w2xVsFmZ=
6F2quPA_lc-Cj1nl1ThDdRCgauG2414NzrJ5X2swk-ub0gzxngSV4_6tKQI6Yrw2C9zGroHG5mK=
zHrSkkHqE38gLipD1gzlJhlJpVMA3-b_-0nBQof6DN5V1_Uo5kvXhv2O69xb6cR_Xra2TNx2KnE=
xS3CXfrQSM70Al126_b_qddjNWLGYfeTgkG7fj8T8QrccOjThZnulP28hVshcfLUw6DKKCdwWGV=
hyVc" title=3D"coinbase android app" target=3D"_blank" rel=3D"noopener nore=
ferrer" style=3D"line-height: inherit; color: #1957F5;"><img src=3D"https:/=
/d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/669d5713-9b6a-46bb-=
bd7e-c542cff6dd6a/3aca56371967418192255878e9689713/Icons/app_google.png" al=
t=3D"Download on Google Play" height=3D"46" style=3D"line-height: inherit; =
display: block; height: 46px;"></a></td></tr></tbody></table><div style=3D"=
line-height: inherit; margin-top: 24px;"><p style=3D"font-family: Helvetica=
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d-break: break-word; color: rgb(91, 97, 110);">Disclaimer: This material is=
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FbrhpQA88Bk7u4fl3JfqcUu_Kyr_blccv8L5O-6nu1YC9r8s8XH3L4m8ilQTcZKm78rnnw%3D%3=
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ShgFefKJ125vfbNCugbpRwda_X4dA6OZL6oeKgRy2zgI4dq_qZaDXmtvpAYCWVJzghqpuKoT863=
M9zCISCnhWlgcooE5zWXs4Ib-3QCW_pcnGk3KcN67x--jgzDKQQ2aLezpT79fTAh4rexDRTc79m=
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mpMtlibbusn5wFGIhf30_Qg2pFcaMGISl0N1sL7SMIB_Pz-8ZOAHLDZDmS0ibSIsa7R2W7R9GUk=
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