On the other hand, the crypto’s 24-hour trading volume experienced a decrease of more than 20%.

it succeeded in flipping its weekly performance back into the green. At press time, ETH was up 0.29% over the past seven days.

This price increase also allowed the altcoin to strengthen against its biggest competitor, Bitcoin (BTC), by about 0.71% throughout the past day.

Brad Garlinghouse also accused the SEC and the Biden administration of putting politics ahead of smart policy, leading to crypto entrepreneurs and innovation moving out of the United States.

The Hinman documents are internal communications and speeches related to William Hinman, the SEC’s former Director of Corporation Finance, who stated in 2018 that Ethereum is not a security. The SEC has made several attempts to seal these documents, given the precedent they may set in the ongoing lawsuit against Ripple.

The Ripple CEO’s estimation of a resolution is based on the recent decision of the overseeing judge to deny the securities regulator’s motion to seal the infamous Hinman documents, which Garlinghouse believes is an indicator of the court’s sentiment.

The total value of these tokens - which are typically traded in secondary markets, particularly decentralized exchanges - exceeded $1 billion in early May, but has since fallen back to $446 million, according to tracker BRC-20.io.

Still, the BRC-20 frenzy has been volatile.

Some investors and developers view bitcoin's blockchain as a safer long-term basis for creating tokens and applications in the wake of the crypto carnage that followed the collapse of high-profile firms like FTX and a general flight from riskier assets, according to market players.

Primarily due to the creation of these tokens, the average daily transactions over seven days stands at more than 531,000, nearly twice as high as a month ago, according to Blockchain.com data.

This new class of crypto has no specific use beyond speculation, akin to memecoins. Yet its nascent popularity points to interest in bitcoin not just as a store of value or payments method, but as the foundation for developing new coins and applications - previously considered the domain of more modern blockchains such as Ethereum and Solana.

Blockchain analytics platform Nansen has announced the removal of Lido NFTs from its NFT Paradise service.

Nansen has indicated that the NFT market is not yet back to its full strength despite recording growth in Q1 2023.

The incident led to a misleading surge in NFT mint volume, involving 430k ETH, which was initially misinterpreted as a spike in NFT market activity.

A confirmation of the bearish thesis will be if ADA’s price closes a 4-hour candle below $0.3613 by the end of today’s trading session. This will signal an entry for traders looking to short ADA in the following 48 hours.

Traders and investors will want to wait for the 9 EMA line on ADA’s 4-hour chart to close above the 20 EMA line before entering a long position for crypto. Should this happen, ADA’s price will have the support needed to break above the aforementioned $0.3697 resistance level and flip it into support. This will then also clear a path for it to climb to $0.3808.

Technical indicators on the altcoin’s 4-hour chart suggested that bulls still had the upper hand against bears, as the RSI line was steeply sloped toward the overbought territory. Furthermore, the RSI line had recently crossed bullishly above the RSI SMA line. The margin between the 9 and 20 EMA lines on the 4-hour chart was also narrowing, which was another bullish sign.

If ADA’s price is able to close a 4-hour candle above the 9 and 20 EMA lines before the end of today’s trading session, then it will likely flip $0.3697 into support in the next 24-48 hours. On the other hand, ADA’s price dropping back below $0.3613 during today’s trading session will result in ADA’s price dropping back down to retest the $0.3562 support level.

Not only did they successfully keep ADA’s price above $0.3562, they were also able to give it a much-needed boost – allowing it to flip $0.3613 back into support earlier today. At press time, ADA’s price was trading between the 9 EMA and 20 EMA lines on its 4-hour chart, as bulls continued to fend off ADA bears.

ADA’s price had lost the support of the $0.3613 level over the weekend, and had almost lost the support of the next key price point at $0.3562 as well. Bulls entered ADA’s charts just in time, however, to defend the level over the past 24 hours.

Recently, an angel investor Mc Kenna, announced that ARB tokens comprise the largest portion of his crypto portfolio, noting that he is bullish about the coin. He cited its growing popularity among DeFi projects, with the largest total value locked, daily transaction count, and user base.