Cryptocurrency Market Remains Stable at the Beginning of the Week
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.
XRP Attracts Promising Investment Inflows Amid Crypto Market Downturn
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 Resilient Amidst Bleak Market Conditions and US SEC Lawsuits
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.
Cryptocurrency Market Sees $49.5 Billion Outflow Since Last Friday's wMarket Report
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.
Ethereum Price at Risk of Heavy Decline Below $1,720 Support
The price of Ethereum is currently facing resistance at $1,780 and $1,800 levels and is trading below the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance near $1,760 on the hourly chart of ETH/USD.
Cascad3: Embracing the Cascading Economy Model for Web3 Collaboration and Collective IP Management
Cascad3 is a decentralized publishing platform currently under development, aimed at fostering collaboration and monetizing collective intellectual property.
Data Shows Microstrategy's Portfolio Could Increase 54% if They Had Chosen Ethereum Over Bitcoin
New data reveals that Microstrategy, a publicly-listed company, has seen a 14% decrease in the value of its 140,000 Bitcoin (BTC) holdings, which are worth approximately $4.2 billion. Data analyst Holger, from blockchaincenter.net, has released a dataset called "There Is No Second Best," which shows that if Microstrategy had invested in Ethereum (ETH) instead of BTC, the company's portfolio would have increased by 54% to $6.46 billion.
Ethereum's Volatility Could Increase as SEC's Action on Binance and Coinbase Brings Selling Pressure, MTC, Pepe, Polygon, and ChitCAT Show Promising Gains, Bitcoin and Cardano Also Doing Mildly Well
Ethereum started the day with a slight gain of 0.2%, trading at $1,744 with a market cap of $209,864,137,109 and a trading volume of $5,473,556,595. However, the Bollinger bands are indicating increasing volatility, and the MACD indicator suggests a likely bearish trend.
Optimism's Bedrock Upgrade Brings 56.1% Reduction in Transaction Fees and Paves the Way for Superchain Revolution
Optimism's Bedrock upgrade has resulted in a significant reduction in network costs, with a 56.1% decrease in transaction fees achieved through optimized batch compression and leveraging Ethereum as a data availability layer. In just a few days, users have already saved nearly $150,000, and the expected total user savings during the first month is around $210,929. The Bedrock upgrade is a crucial component of Optimism's vision for a "Superchain," which aims to create an interconnected network of chains for seamless communication and collaboration. While Optimism has achieved a substantial Total Value Locked (TVL) figure of over $1.6 billion, there has been a decline in the 30-day active addresses metric.
Shiba Inu Whale Abruptly Moves Trillions of SHIB Tokens in Massive Transaction
A large amount of Shiba Inu (SHIB) tokens worth $31.7 million were moved from Shiba Staking to Binance by an unknown crypto whale as the memecoin experienced a dip. The value of SHIB was $0.00000792 during the transaction, which was lower than its seven-day high of $0.00000872. According to IntoTheBlock, 89% of SHIB holders are currently experiencing losses. Shibarium, a new layer-2 project built on top of Ethereum, is gaining popularity as more users experiment with its testnet and currently has 16.7 million wallet addresses using it.
