Bitcoin’s Chop Continues, XRP Gains as Ripple vs. SEC Lawsuit Begins, and More: This Week’s Crypto… – CryptoPotato

The market continues to crash, clearly unable to choose a definitive direction over the past seven days. Total capitalization currently stands at around $2.5 trillion, more or less what it was at this time last week. However, there has been significant volatility, pushing many leveraged traders into liquidation. Let’s look.

Starting with Bitcoin, no progress has been made over the past seven days, but that is not due to a lack of effort. On Monday, April 22, BTC bulls took their price towards the upper end of the current range, above $66,000. Critical technical resistance lies at around $68,000, and the bulls attempted to breach it twice: once on Tuesday and once on Wednesday.

These two attempts were unsuccessful. It seems that this gave the bears a lot of confidence and pushed the price towards the bottom of the range. Bitcoin is currently trading at around $64,000.

However, many altcoins have managed to capitalize on this indecision and make some gains.

For example, ETH rose 1.1% over the same period, XRP gained over 4%, SHIB climbed 9.2%, TRX 8.8%, and so on. following. BNB is the best performing altcoin, increasing almost 8% over the past seven days.

In terms of what happened, perhaps the most notable event was the start of the lawsuit between the United States Securities and Exchange Commission and Ripple Labs. This is a trial that has dragged on for many years and has just entered its final phase. Some experts are already speculating that a settlement is coming, while others vouch for a more decisive victory for the company behind XRP.

The SEC was also involved in another lawsuit, but this time it was the victim. Consensys – one of the largest companies in the sector – has filed a lawsuit against it, arguing that its potential regulations could seriously harm the blockchain industry in the United States.

More than a week after the Bitcoin halving, it is interesting to see how the market will evolve in the near future. If one thing is certain, it’s that dull days are rare in the industry and a bout of volatility could be on the horizon.

Market data

Market capitalization: $2.49 T | 24H Flight: $84 billion | BTC dominance: 50.9%

BTC: $64,351 (-0.9%) | ETH: $3,140 (+1.2%) | BNB: $603 (+7.9%)

This week’s crypto news you don’t want to miss

CEO of Tether: Bitcoin is the most beautiful currency in the world (interview Token2049 Dubai). At the Token2049 conference in Dubai, CryptoPotato spoke with the CEO of the world’s largest stablecoin issuer, Tether (USDT). Find out what he had to say about the market and the future of the industry.

How to Stake Polkadot (DOT): The Ultimate Guide. Polkadot is one of the leading cryptocurrencies in terms of development activity and total market capitalization. In this guide, we take an in-depth look at the intricacies of Polkadot staking and how to do it.

Here’s what will take Bitcoin to $150,000 after the halving: Standard Chartered. An analyst at Standard Chartered, who is also responsible for digital asset research – Geoff Kendrick, believes that the price of Bitcoin is likely to increase after the halving. Find out the reasons and how far it could go.

Consensys files lawsuit against SEC over Ethereum regulation. Crypto heavyweight Consensys has filed a lawsuit against the United States Securities and Exchange Commission. The company states that the Commission’s potential regulation poses risks to the US blockchain technology industry.

SEC likely to reject Ethereum Spot ETFs in May: Reuters. Industry experts appear to believe that the Ethereum ETF (ETH) will likely be denied approval for public trading by regulators in May. Here’s why.

Instagram influencer Jay Mazini sentenced to 7 years in prison for $8 million fraud scheme. From rags to rags: United States District Judge Frederic Block sentenced famous Instagram influencer Jay Mazini to seven years in prison. He was convicted of several fraudulent schemes and scams.

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This week we have chart analysis of Ethereum, Ripple, Cardano, Shiba Inu and Polkadot – click here for the full price analysis.