According to CryptoCompare data, Bitcoin is trading at a premium of over 1% on Binance.US, with a price above $26,000, surpassing major rivals like Kraken and Coinbase.

Bitcoin and ether both experienced a slight decline at the beginning of the week, with bitcoin dropping to $25,785 and ether falling to $1,735. Despite the recent SEC lawsuit against Coinbase and Binance, both cryptocurrencies held up relatively well, while some altcoins suffered losses.

The cryptocurrency market is currently stagnant, with neither growth nor decline evident according to CoinMarketCap. Bitcoin has seen a slight increase of 0.25% in the last 24 hours, but remains under pressure from sellers. Ethereum has experienced a decline of 0.37% and may continue to drop to $1,600 in the coming days. Cardano is the biggest gainer, rising by 5.24%, but still needs more time to accumulate strength for a further move.

Despite the current crypto market downturn, XRP has attracted significant investment inflows, with half a million dollars invested in investment products oriented on XRP in the last week alone. This brings the cumulative inflow since the beginning of 2023 to an impressive $4 million.

Bitcoin and Ethereum prices are showing resilience due to positive macro factors, despite bleak market conditions caused by US SEC lawsuits against Binance and Coinbase and selling pressure on Cardano, Solana, and Polygon. Investors are preparing for key events this week, including US CPI and PPI data, the US Federal Reserve's monetary policy decision, and interest rate decisions by the European Central Bank and Bank of Japan.

The cryptocurrency market has experienced outflows of $49.5 billion since the last wMarket report, resulting in a current market cap of $1.06 trillion, a 4.5% decrease from $1.11 trillion. Bitcoin and Ethereum saw their market caps fall by 2.3% and 5.1%, respectively, over the weekend.

Developers at Ordinals have introduced a new method called recursive inscriptions to overcome Bitcoin's block size limitation of 4 MB, which restricts the size of NFTs. The new feature allows inscriptions to reference the content of other inscriptions using a special syntax, which can enhance efficiency and reduce costs.

According to a research report by CryptoQuant, United States-based crypto exchanges have seen a decline in their bitcoin and ether reserves, falling below 50%. This is due to an ongoing regulatory crackdown in the country, which has prompted international exchanges to gain traction.

Stanford University professor David Tse and his team are using Bitcoin's proof-of-work consensus mechanism to enhance the security of proof-of-stake (PoS) smart contract blockchain protocols. Their Babylon blockchain uses Bitcoin to incentivize BTC holders to participate in staking on PoS chains, without the need to alter or fork the Bitcoin protocol.

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