Bitcoin (BTC) Surpasses Dogecoin (DOGE) and Cardano (ADA) in This Important Metric.

Recent analytics report shows that the flagship cryptocurrency Bitcoin has left behind its rivals from the top 10 list the original meme coin DOGE and Cardano's native PoS token ADA.

The report shows that Bitcoin whales and smaller investors have been much more active recently than those of Dogecoin and Cardano.

Bitcoin beats DOGE and ADA by wallet activity.

On-chain data aggregator Santiment has published a report about the recent activity of wallet owners who hold Bitcoin, Dogecoin and Cardano.

The tweet says that the number of non- empty Bitcoin wallets has been increasing at a rapid pace despite the high volatility, which has been causing "choppy prices." As for leading altcoins, such as Dogecoin and Cardano, DOGE wallets grew earlier this year but have now flattened their rising curve.

As for Cardano's ADA, Santiment says that it is "one of the few networks to see active wallets drop."

Despite that data, another on-chain data company, cryptocurrency analyst and trader Ali Martinez, using Santiment data, has reported that over the past two weeks, a substantial drop in Bitcoin whales' activity has been detected.

He suggested that a notable increase in Bitcoin whale transactions could contribute to boosting the Bitcoin price from the current $62,964 level.

Bitcoin: What Caused $157 Million Price Plunge?

The entire cryptocurrency market saw selling pressure as Bitcoin's price fell to its lowest point in over a week. Bitcoin, the first and largest cryptocurrency by market cap, extended its declines from highs of $65,287 on April 25 into the second day, reaching intraday lows of $62,389.

The Bitcoin sell-off spurred a wave of selling in the crypto market, exacerbating the downward pressure on alternative cryptocurrencies known as "altcoins."

At the time of writing, BTC had dropped 2.28% in the previous 24 hours to $62,839. Several cryptocurrencies were also trading in red, with losses ranging from 2% to 15%. Solana (SOL) and Shiba Inu fell about 6% in the last 24 hours, while Solana meme coins Dogwifhat and Bonk suffered worse losses, falling 11.80% and 13.45%, respectively.

The price downturn caught some investors off guard, leading to a cascade of liquidations across various cryptocurrency exchanges.

According to CoinGlass data, over $157.29 million worth of crypto assets were liquidated within the last 24 hours, with Bitcoin accounting for $42.22 million of that total.

The downturn in the cryptocurrency market coincided with the release of higher-than-expected inflation data, raising investor concerns about the global economy's outlook.

According to CNBC, the core personal consumption expenditures (PCE) price index, excluding food and energy, grew 2.8% year on year in March, matching February and slightly exceeding expectations.

The Fed targets 2% inflation, which the core PCE has exceeded for the past three years. The Fed focuses on the PCE in particular because it compensates for changes in consumer behavior.

The report comes on the heels of bad inflation news from Thursday, and the Fed might probably keep interest rates unchanged until at least the summer, unless the data changes significantly.

With inflation still rising two years after it
peaked at the highest level in more than 40
years, central bank policymakers are
closely monitoring the data as they
consider the next steps in monetary policy.

Ex-Grayscale Director Warns Bitcoin Price Crash Το $52000.

Former Grayscale Director Phil Bonello recently offered insights on the Bitcoin price trajectory and he envisions a crash to the $52,000 level.

Phil Bonello, former director at Grayscale Investments, has recently stirred the crypto community with a series of predictions and observations regarding the future of Bitcoin (BTC). In addition, he offered insights about the broader crypto market. Moreover, Bonello hinted at a massive correction in the Bitcoin price owing to the recent bearish turn.

Will Bitcoin Price Dip To $52,000?

In a post on X, Bonello outlined severa
key points, including a potential 20%
chance of Bitcoin dropping to $52,000.
He cited various factors such as
inflation concerns, fiscal spending
trends, and the performance of
alternative cryptocurrencies.
Moreover, Bonello emphasized the
growing inflation as a significant concern.

In addition, the ongoing geopolitical tensions and the Yen's instability is expected to impact the crypto market. He noted that fiscal spending appears to have a clear trajectory, hinting at potential long-term implications for Bitcoin and the crypto market as a whole.

Regarding altcoins, Bonello highlighted their recent significant drops, with many having already plummeted by over 50% and subsequently retesting support levels. Despite weak Bitcoin ETF flows, he expressed confidence in BTC's resilience in absorbing such movements. Furthermore, the former Grayscale Director foresees a substantial increases in ETF activity as the year progresses.

In addition, Bonello pointed out that open interest in Bitcoin has returned to levels seen when the price was at $50,000, signaling a huge drop. He also noted that various market indicators, such as funding, basis, and skew, currently appear neutral.

BTC Plunges To $62,000 Level.

The Bitcoin price lost momentum and extended below the $63,000 mark today. At press time, the BTC price crashed 2.39% to $62,909.50 on Saturday, April 27. Whilst, the crypto boasted a massive market cap of $1.23 trillion.

Is Bull Run Over? Legendary Trader Peter Brandt Warns of Impending Bitcoin Collapse.

Renowned trader Peter Brandt recently published an insightful analysis titled "Does history make a case that Bitcoin has topped?"

In his new essay, the veteran trader delves into the concept of exponential decay, suggesting that Bitcoin's bull market cycles have gradually lost momentum over time.

Brandt highlights four significant bull cycles in the history of Bitcoin, with the current surge marking the fifth. He notes a concerning trend: Each successive cycle has seen a diminishing exponential advance, indicating a loss of about 80% of the momentum from previous cycles.

Applying this trend to the current cycle, the expert projects a potential peak of around $72,723, a figure already reached in recent trading. While acknowledging the historical impact of halving events on the Bitcoin price, Brandt emphasizes the sobering reality of exponential decay, suggesting a 25% chance that BTC may have already reached its peak for this cycle.

In the event of a market top, he speculates on potential price retracements, foreseeing a decline to the middle of $30,000 per BTC or even revisiting lows from 2021. Despite the bearish implications, he views such a correction as potentially bullish in the long term, drawing parallels to similar chart patterns observed in the gold market.

Brandt concludes his analysis by acknowledging the weight of the data, stating, "Do I believe the analysis just presented? I don't want to, but the data speak for itself."

Bitcoin Faces Potential Decline as $60K Level Tested.

Cryptocurrency expert Rekt Capital has raised concerns about a potential decline in Bitcoin's value in the near future. Highlighting the importance of the $60,000 mark, the analyst suggests that Bitcoin may struggle to maintain this critical support level. His analysis draws on the cryptocurrency's behavior following the 2016 block reward halving, which saw similar trends of corrections prior to and post the pivotal event.

Historical Patterns Suggest Upcoming Challenges.

Rekt Capital, addressing his YouTube audience, referenced the past performance of Bitcoin around the 2016 halving event. He indicated that Bitcoin experienced two significant corrections during that time, hinting at the possibility of similar occurrences in the current context. The "second danger zone" termed by the analyst could unfold in the weeks to come, potentially extending Bitcoin's stay in a precarious position.

In particular, the weeks following the recent halving could be critical. The analyst predicts that the cryptocurrency might enter a phase of increased volatility and downward pressure, which historically has taken around three weeks to manifest fully after the halving event.

Relevance of the $60,000 Support Level.

The $60,000 threshold significant benchmark serves as a for Bitcoin, according to Rekt Capital. Maintaining this level could be pivotal for Bitcoin's short- term market sentiment and stability. A sustained position above this mark might foster a consolidation phase, thereby setting the stage for a potential recovery. However, with Bitcoin presently hovering just below $63,000, the market remains in a delicate balance.

XRP Eyes Big Bullish Rebound, Here Are Catalysts to Watch.

The digital currency ecosystem has slipped back into its bearish state once again with XRP being one of the most impacted. At the time of writing, XRP is changing hands for $0.5149, down by 2.12% in the past 24 hours, per CoinMarketCap data. The price shifted from the 24-hour high of $0.5294 and traded as low as $0.5104 before rebounding to its current level.

As seen in the price trends, brighter days might be ahead for XRP. Though there are still some unique headwinds impacting the price boom, the digital currency might have hit its floor price. Overall, XRP is on track for a big bullish rebound as some key catalysts align within its ecosystem.

For XRP, it has a relatively underperforming price trend, with entities like Forbes calling out its downtrend. As such, utility remains a key catalyst that can reshape sentiment. Notably, the visible embrace by XRP whales is one key trend that can recertify the coin as one that top investors are favoring. Whale transactions, especially if directed toward buy-ups, have a way of reigniting market-wide confidence.

The escrow impact by Ripple Labs also needs to be closely watched alongside the embrace of the coin by top institutional investors.

Ripple's pivotal role.

The close association of Ripple Labs with XRP is capable of making or marring XRP's growth. The blockchain payments firm has unveiled its plans to launch its stablecoin, one that will compete with the dominant options in the industry like Tether (USDT) and USD Coin (USDC).

While the operational modalities of the Ripple stablecoin have not been revealed, if XRP is made to feature in the minting and redemption, business can introduce a unique utility that will increase the demand for the coin in the long term.

Many analysts are also generally bullish on XRP with different projections on its price target. In the near term, XRP's immediate target lies at the $0.6 price market.

Ethereum Co-Founder Vitalik Buterin Defends Switch To PoS.

Ethereum co-founder Vitalik Buterin has defended the switch from Proof-of-Work to Proof-of-Stake amid growing community questioning.

Amid growing internal wrangling within the Ethereum community, the protocol's co-founder Vitalik Buterin has offered some explanations for defending the network's switch from Proof-of-Work (PoW) to Proof-of- Stake (POS) consensus mechanism. Specifically, his response came as a direct reaction to an X post from American entrepreneur Amanda Cassatt.

Ethereum Community Members Questioning PoS Switch.

Cassatt claimed to have noticed how many Ethereum community members are privately expressing their displeasure about the network's transition to PoS. She went on to recant how some community members wish that Ethereum had stuck with the PoW consensus algorithm.

As a boost to support the reasons behind the switch to PoS, one X user openly asked a question that suggested that the PoS switch is the best decision for the Ethereum network.

"why would anyone want Proof of Work if they wanted the best for Ethereum?" the X user asked "They realize the network needed to ditch that "energy guzzling casino" brand, right?"

Joining the conversation, Buterin
highlighted that the PoW algorithm is
centralized, even though not so many
people talk about it. This suggest that
the PoS switch was also in pursuit of
network decentralization. The
Ethereum co-founder explicitly stated
that PoW was only a temporary phase
that preceded PoS and quite a number
of entities were aware of this position.

Bitcoin, the leading cryptocurrency by market capitalization, utilizes the PoW consensus algorithm and has seen significant performance over the years including an all-time-high (ATH) of more than $73,000. While the Ethereum community may not appreciate the network's PoS transition, the argument of the core developers remains that this new mechanism has what it takes to give the blockchain its most optimized performance boost.

Dogecoin Creator Delivers Honest Opinion on Elon Musk and X.

In a recent poll assessing the impact of Elon Musk's acquisition of Twitter, Dogecoin creator Billy Markus, known by the nickname Shibetoshi Nakamoto, provided insights into the platform's transformation. Markus, reflecting on the two-year anniversary of the billionaire's merger agreement with Twitter, indicated a positive shift in his experience, citing financial gains.

Markus's remarks shed light on the benefits experienced by content creators since the takeover. He emphasized a notable improvement in his financial standing, stating that previously he "didn't get money," but now, under Musk's ownership, he is "getting money."

The acquisition of Twitter by Elon Musk marked a pivotal moment in the platform's evolution. It appears that the primary motive behind the move was to capitalize on Twitter's widespread influence, potentially turning it into a super app with a strong financial base.

Since the change in ownership, content creators have reported enhanced rewards, particularly through increased visibility and engagement with their content.

Notably, a comprehensive subscription system was introduced, allowing content creators to monetize their output effectively. Markus himself has embraced this model, offering exclusive content to subscribers for a nominal fee of $3 per month.

However, Musk's tenure as Twitter's owner has not been without controversy. His views on censorship, political stances and eccentric speeches have sparked intense debate within the community. Critics argue that Musk's influence could potentially shape the platform's content moderation policies and editorial direction, raising concerns about free speech and neutrality.

Cardano Nearing Critical Milestone of P2P Evolution, Here's How.

Cardano stands at the precipice of a significant breakthrough with the impending Ouroboros Genesis upgrade.

This marks a pivotal moment in Cardano's journey toward achieving full peer-to-peer (P2P) node operations, a goal that has been meticulously pursued by its dedicated community and developers.

Peer-to-peer (P2P) networking is critical to blockchain's long-term decentralization,
security and resilience, allowing participants to communicate, synchronize
data and reach consensus. The move from the existing hybrid model to full P2P networking for Cardano has been gradual; however, the transition is already underway.

In March 2023, Dynamic P2P automated the peer selection procedure. The node v.1.35.6 update improved communication between distributed nodes, simplified the operation of the relay and block-producing nodes, and eliminated the need for static configurations and manual input from stake pool operators (SPO).

According to Cardano builder Input Output Global (IOG), the next and final waypoint on the path to full P2P node operations is expected to arrive with the impending Ouroboros Genesis release.

Ouroboros Genesis will be deployed as part of the Chang upgrade, which is expected to take place this summer. This enables nodes to self-bootstrap from the live Cardano network.

Currently, initial network entry necessitates synchronizing with a secure, trusted validator, typically a trusted fellow SPO or another entity. Once synchronized, nodes use Ouroboros Praos to operate in a decentralized way.

Ouroboros Genesis is expected to further simplify the process when using Cardano- node's P2P capabilities, making the process completely autonomous and eliminating the need for human interaction.

Furthermore, the transition to full P2P node operations is anticipated to increase the Cardano network's scalability and throughput, allowing it to accommodate a wider range of applications and use cases.

Dogwifhat (WIF) Eyes Price Rally as Major Metrics Go Bullish.

In the midst of a broader consolidation on the crypto market, dogwifhat (WIF), a prominent meme coin built on the Solana blockchain, is demonstrating bullish signals across key metrics. Recent data from CoinGlass indicates a notable surge in open interest for WIF, currently standing at $325.20 million, marking a 2.92% increase.

Notably, a significant portion of this interest, approximately $166.41 million, originates from Binance, with additional contributions from Bybit and other platforms. Open interest is a crucial metric, often reflecting the prevailing sentiment among traders. The upward trajectory of dogwifhat's open interest suggests a growing bullish sentiment within its trading community.

As of the latest update, the price of WIF stands at $3.00, reflecting a 2.26% increase over the past 24 hours. Additionally, the meme coin has experienced a 2.23% surge in its market capitalization, which currently stands at $2,999,074,374. While these gains may appear moderate, they signify a positive trend for dogwifhat, which has historically demonstrated the potential for significant price rallies.

Leading meme coin buzz.

Launched on November 20, 2023, WIF swiftly gained traction in the market, owing to its distinctive identity featuring a Shiba Inu puppy adorned with a pink hat. This unique branding, coupled with a dedicated community fostering its growth, has propelled dogwifhat into the spotlight in the meme coin ecosystem.

The current bullish momentum surrounding WIF comes amid a broader period of consolidation on the crypto market, where many digital assets are experiencing price stability after recent fluctuations. This stability has provided an opportune environment for meme coins like WIF to showcase their potential and attract renewed interest from investors and traders alike.

Crucial Satoshi Nakamoto's Message Shared by Bitcoiner Samson Mow.

Samson Mow, a Bitcoin maximalist and the chief executive at Bitcoin adoption- focused company Jan3, has got involved in a discussion about Bitcoin privacy and the real identity of Satoshi Nakamoto.

Mow shares Satoshi Nakamoto's quote.

Samson Mow quoted a statement made by Satoshi Nakamoto in the Bitcoin white paper. In that section of the document, Satoshi suggested a way of keeping privacy which is alternative to that of they way banks do it. "The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party."

However, Nakamoto suggested that privacy could also be maintained in a different way for Bitcoin - by keeping private keys anonymous. This way, everyone would be able to see that one party is sending funds to another but the wallets would stay anonymous and transactions would not be linked to anyone in particular.

Ledger CTO Charles Guillemet commented that "Pseudonymity is a weak form of privacy." In response, Mow suggested that he names who Satoshi was in reality.

Bitcoin Omega candles inevitable.

In a recent interview to Forbes, Samson Mow predicted that Omega Bitcoin candles should appear soon. He referred to large greed trading candles whose emergence is surrounded with high volatility.

Now, that the Bitcoin halving has taken place, block rewards have shrunk by half and now they constitute 3.125 BTC versus 6.25 BTC before that.

Mow is positive that this halving will eventually create a Bitcoin supply shock. When spot Bitcoin ETFs began scooping up BTC from the market in January, buying 12x BTC that miners produced then per day (900 BTC in the daily output), they began creating a Bitcoin demand shock, Mow said in his earlier tweets.

When the supply shock meets the demand shock, Omega candles are likely to start appearing, Mow believes, and this will take the world's flagship cryptocurrency to the much-anticipated $1 million level.

Pepe Coin Captures Attention with Notable
Price Surge.

The popular altcoin, Pepe (PEPE), has recently drawn the attention of cryptocurrency investors, particularly those investing in altcoins, due to a significant price increase over the past few days. This rise has ignited discussions and speculations about the future price trajectory of the frog-themed altcoin, with many market participants predicting potential new highs.

PEPE Shows Strength with Serious Uptrend Signals.

One of the key factors contributing to the current excitement around PEPE is the expanded support from leading U.S.-based cryptocurrency exchange (CEX) Coinbase. Coinbase recently initiated the trading of PEPE perpetual futures contracts on its platform, thereby opening up investor access to the altcoin for those outside the U.S. This move was a trigger for a notable price increase in PEPE, and despite a delay in the launch of perpetual futures due to technical issues, the altcoin surged by approximately 50% once trading finally commenced

In addition to Coinbase's support, on-chain data revealing large accumulations of PEPE by whales and a market maker supported the rise. Market maker Amber Group was purchasing large amounts of PEPE from the Binance exchange, while a cryptocurrency whale also made significant purchases, boosting optimism for the altcoin. These large-scale purchases indicate increased confidence in PEPE's future prospects and contribute to the positive atmosphere surrounding it.

Moreover, derivative data provided by Coinglass also supports the observed uptrend in PEPE. An increase in open interest and derivative volume, along with high amounts of new capital entering the market, reflects growing investor optimism. This influx of funds highlights the increased interest and confidence among market participants in PEPE.

Current Status of the Altcoin

PEPE is currently trading with a significant rise of about 44% over the last seven days. This upward momentum indicates a consistent increase in buying pressure, leading to comments about a potential bull run for the altcoin.

Shiba Inu (SHIB) Teases Big Plans for Shibarium Hard Fork: Details.

The team behind the Shiba Inu (SHIB) meme coin project has teased a major hardfork for Shibarium. Taking to its official X handle, the protocol's developer said the upgrade is expected to go live on May 2 and will herald unique growth tracks for the Ethereum-based layer-2 scaling solution.

Big benefits of Shibarium hard fork.

According to the announcement, the Shibarium hard fork will make it possible for the L2 to unlock new levels of capabilities. The team highlighted that this upgrade is about simplifying engagements with Shibarium. This in turn is a direct push to meet the expectations of its community.

One of the major updates that will be made is the quicker block processing times that will be infused into Shibarium. Additionally, more predictable transaction fees will be introduced as this will directly address the performance concerns of the community.

Shibarium is a protocol with highly unstable performance metrics. In periods of high traffic, the transaction fee is typically varied, a major issue that needed prompt
addressing. With this Shibarium hard fork,
the team said it will smooth out this
transaction fee variation and make the cost more predictable for all.

The team is also interested in innovations that will place Shibarium at the forefront of the blockchain tech sector. It pointed out that its ultimate goal is to empower its community such that it can truly innovate without limitations.

One major omission.

To balance out the yearnings of the community, many members, though appreciative of the hard fork, are not pleased that there was silence about the automatic burning of SHIB.

Shiba Inu as a token is deflationary, and the burning approach is still done manually. Though there have been significant gains in the burn rate thus far, that it is manual leads to some consistent stoppages or downtimes.

Proponents believe that with a dedicated automatic burn portal, Shiba Inu can further be placed on a bullish pedestal in valuation boost.

Exploring the Investment Potential of ADA Coin in Current Market Conditions.

Following a recent downturn in cryptocurrency prices triggered by U.S. economic data, the market has seen a significant decline, with Bitcoin dropping below $63,000 and various altcoins also experiencing losses. This market behavior often signals potential buying opportunities in altcoins, notably ADA Coin, according to data from IntoTheBlock. A critical analysis suggests that with only 35% of ADA investors currently making a profit, the coin might be positioned for purchase.

Analysis of ADA Coin's Market Position.

Compared to other prominent cryptocurrencies, ADA Coin shows a distinct scenario. While 86% of Bitcoin (BTC) investors and 85% of TRX investors are in profit, only a small fraction of ADA holders are currently benefiting. Such statistics place ADA Coin in an oversold category, typically seen as an advantageous entry point for investors. However, despite these indicators, the lengthy period of underperformance in ADA's profitability could deter potential buyers or encourage current investors to sell.

The challenges for ADA do not stop at market valuation. Cardano, the blockchain underpinning ADA, has faced criticism for its slow pace in attracting developers and launching applications that capture market interest. These elements contribute to the complex decision-making process for potential investors considering ADA Coin amid its currently low price point.

Future Price Trajectory Speculations for ADA.

Market dynamics indicate a tough resistance zone for ADA Coin, made evident by the substantial number of investors who bought in at higher price points between $0.59 and $0.72. Now, as the price hovers around $0.46, those who took profits earlier have likely avoided worse outcomes. Experts at IntoTheBlock highlight the current investor composition and low profitability as either a warning or an opportunity, depending on market interpretations. Price predictions remain uncertain, fluctuating between a potential fall below $0.3 or a rise above $1.

XRP Price Prediction for April 25.

XRP/USD.

The rate of XRP has dropped by 4.74% since yesterday.

On the hourly chart, the price of XRP has fixed below the local support level of $0.5158. If the situation does not change by the end of the day, the decline may lead to the test of the $0.51 zone tomorrow.

On the bigger time frame, there are no reversal signals yet, which means that there is a good chance of seeing a further drop of XRP to the $0.48-$0.50 range.

Such a scenario is relevant until the end of the week.

From the midterm point of view, the price of XRP has bounced off the $0.55 zone, which means that bears are still more powerful than bulls. If the weekly bar closes below the vital zone of $0.50, traders may expect a test of $0.45.

XRP is trading at $0.5217 at press time.

Shiba Inu Key Metric Skyrockets by 61% as SHIB Whales Return.

Dog-themed cryptocurrency Shiba Inu (SHIB) has seen a significant 61.39% increase in large transaction volume, which is usually suggestive of whale activity.

Large transaction volume is a crucial measure from Into TheBlock that indicates the total amount transacted by whales on a particular day. Spikes in large transaction volumes point to high activity among whales, either buying or selling.

In recent days, there has been a decrease in the volume of large transactions for SHIB that exceed $100,000. SHIB reported a considerable reduction in large transaction volume, falling from 6.36 trillion SHIB on April 19 to 2.06 trillion SHIB on April 20.

Since this date, Shiba Inu's large transactions have flatlined between two trillion SHIB and 3.73 trillion SHIB, before a sudden rise on April 24.

Large transaction volumes increased from 3.73 trillion SHIB on April 23 to 6.23 trillion SHIB on April 24. The monetary value of large transactions in the past 24 hours reached $162.45 million, a seven-day high.

SHIB drops 9%.

The timing of the large transaction volume rise is particularly interesting, as it coincides with a broader market collapse, with major cryptocurrencies losing between 4% and 20%.

Shiba Inu was not spared from the bearish trend, falling 8.69% in the last 24 hours to $0.00002486, despite rising 13% in the previous seven days. Thus, the resurgence of whale activity might signal renewed interest in the dog-themed token.

This is hardly surprising given that whales often utilize periods of correction to accumulate at a discount. The increase in transaction volume might suggest that large investors are once again positioning themselves on the market, potentially anticipating future price movements.

The return of SHIB whales also comes at a time of heightened enthusiasm: Shiba Inu has just secured $12 million in funding, putting it on track to become a big participant in the crypto market.

100 Million XRP Leave Ripple Address, Going to Mysterious Wallet: Details.

Blockchain tracker Whale Alert, which tracks down large cryptocurrency transactions, has detected a tremendous XRP transfer made by fintech behemoth Ripple Labs.

Two smaller XRP transfers from wallets related to Ripple were registered several hours later as well.

Ripple shovels 100 million XRP.

According to the data shared by Whale Alert, approximately 20 hours ago, Ripple crypto decacorn transferred a whopping 100,000,000 XRP to a wallet tagged by Whale Alert as unknown. This amount of XRP was equal to $52,815,512 at the time of the transfer.

Crypto users in the comments assumed that Ripple continues selling these tens of millions of XRP. Still the destination of the transaction was clarified by the Bithomp XRP explorer - the hundred million XRP went to a wallet that also belongs to Ripple.

If this is a sale then afterwards, these millions of XRP coins will be moved on until they end up at a cryptocurrency exchange to be sold. Ripple keeps a large share of the circulating XRP supply, billions of these coins, and sells some of them from time to time to cover their operational expenses.

50 million XRP land in major exchanges.

The aforementioned data source also shared that two more large XRP chunks were later transferred to major centralized crypto exchanges - Bitstamp and crypto unicorn Bitso.

The former received 28,270,000 XRP worth $15,139,951 from an anonymous wallet. The latter got 21,920,000 XRP from an unknown address. Both transactions were made by the same sender - the -Hh4Rzn wallet, according to Bithomp, is related to Ripple too. Therefore, these 50.1 million XRP went to the exchanges from the above-mentioned blockchain heavyweight.

Bitstamp and Bitso are not only major exchanges, they also collaborate with Ripple on its payments service, which operates worldwide, running on RippleNet, and utilizes XRP for fast and low-cost transactions.

Bitcoin (BTC) Price Prediction for April 25.

BTC/USD.

The price of Bitcoin (BTC) has declined by 4.29% over the last 24 hours.

On the hourly chart, the rate of BTC has made a false breakout of the local support level of $63,722. At the moment, one should pay close attention to the daily bar closure. If it happens far from this mark, buyers may seize the initiative.

On the longer time frame, the price of the main crypto has also bounced off the previous bar low of $63,554. However, it is too early to think about a reversal as bulls have not accumulated enough energy for a bounce back.

In this case, sideways trading around $64,000 is the most likely scenario until the end of the week.

From the midterm point of view, the rate is in the middle of the wide range, which means that none of the sides has seized the initiative yet. In this case, ongoing consolidation in the zone of $62,000-$67,000 is the more likely scenario for the next few days.

Bitcoin is trading at $64,262 at press time.

US to Deny Spot Ethereum (ETH) ETFs Next Month: Sources.

Reports are surfacing, originally noted by Walter Bloomberg on the X platform, that the United States may be set to deny the introduction of spot Ethereum (ETH) Exchange-Traded Funds (ETFs) as soon as next month. The information is not yet considered definitive nor confirmed by any officials. Nonetheless, the rumors have gained some credibility given the absence of positive signals regarding the approval of an Ethereum ETF.

How important is ETF?

The effect of an ETF on a cryptocurrency can be substantial. When the Bitcoin ETF was launched, it allowed institutional investors to gain exposure to Bitcoin without the complexities of direct ownership. In much less than a year, Bitcoin exchange-traded funds (ETF) have gathered net inflows of roughly $12.1 billion.

However, the dynamics of Ethereum are distinct from those of Bitcoin. Ethereum does not quite match Bitcoin's appeal to institutional investors, with Bitcoin being more similar to a store of value. Hence, the speculation is that the impact of an Ethereum ETF may not have mirrored the Bitcoin scenario. An Ethereum ETF, if it had been approved, may not have sparked the same level of market enthusiasm, given Ethereum's different use cases and investor base, more like traditional stocks.

Ethereum's price performance.

It is obvious the asset is experiencing volatility as the news drops. Ethereum is maneuvering below key levels and has experienced a substantial price drop after traders who anticipated positive ETF news started selling their holdings.

If reports end up being truthful and an Ethereum ETF is indeed off the table for now, the market may enter a broader correction. However, given Ethreum's focus on decentralized applications and finance, the long-term effect of the ETF might be slightly overestimated. Key drivers for Ethereum remain fees from dApp usage, overall crypto market growth and technological advancements.

XRP Brutal Reversal: 3 Price Levels to Watch.

XRP was brutally denied at the 200 EMA resistance level. After an attempt to maintain stability, XRP has experienced a sharp reversal from the moving average, signaling a potentially troublesome period for the asset.

Currently, XRP is at a price level of $0.52, which has previously acted as a strong support. This means that in the past, whenever XRP's price has fallen to this level, it has often bounced back up, showing that buyers have stepped in at this price point. The resilience of the $0.52 level is being tested once again.

Looking below it, the second price level to keep an eye on is $0.47. This price mark serves as a longer-term support level and has been fundamental to XRP's price rallies in the past. If the price were to slip below this point, XRP could face critical issues, possibly indicating a more profound and extended market downturn.

The third and somewhat fragile price support sits at $0.41. This level is considered the last line of defense, and it is expected to offer limited resistance if XRP's price were to continue falling. Dropping to this level might lead to a prolonged reversal, which traders hope XRP can avoid.

For growth, if XRP manages to stay above these key support levels and begins to ascend, it will first need to reclaim its position above the 200 EMA. From there, potential resistance could form near the $0.55 to $0.57 range, where previous price consolidations have occurred.

The future of XRP now largely depends on its ability to hold these critical support levels. If buying pressure increases across the market and these levels hold, there is a chance for XRP to stabilize and recover some of its recent losses. However, a break below could further challenge XRP's market presence.