in order for the market to come back stronger, lessons must be learned from what happened before. The collapses of 2022 continue to be analyzed by TV stations, newspapers, magazines, blogs and social media. But among the extensive analyses, one key lesson has been missed.

As we appear to be entering a new phase in crypto’s notorious market cycles, excitement is once again growing at the prospect of rising investment and deeper liquidity.

ETH’s trading volume ended up settling at $5,470,852,175 at press time.

For a long time, German banks largely neglected the cryptocurrency industry, considering it too speculative, too risky and too unregulated.

The median transaction fee spiked as high as $30.91 versus a range of 90 cents and $4.23 between January and May 1, Blockchain.com data showed.

The network has also slowed considerably. The congestion was so acute, that the world's largest crypto exchange Binance had to briefly pause bitcoin withdrawals on May.

The rapid creation of BRC-20 tokens hasn't been without contention, with detractors saying the issuance of these tokens has made it more difficult for users who want to use bitcoin for its originally intended purposes.

Gas" fees, or transactions costs on the bitcoin blockchain have soared over the past month, with the total dollar-denominated fees paid per day touching near a new all-time-high of $17.8 million per day, according to Glassnode data.

The race to create these new coins hasn't had a significant impact on the price of bitcoin, which has been trading under $30,000 since mid-April.

Despite the uptick in sales and users during Q1, a slowdown in the NFT market was observed in April. Volumes transacted in April saw a drop compared to March, and this trend appears to have continued into May. The total number of NFT holders also increased modestly in Q1, 2023, reaching 13,999,528 compared to 11,233,872 NFT holders in Q4, 2022.

Nansen has previously stated that throughout Q1 2023, NFT trading volumes in Ethereum (ETH) and USD were on the rise. Specifically, a total of 2,839,354 ETH were transacted in Q1, compared to 1,525,471 ETH in Q4 of the previous year. March 2023 marked a yearly high in NFT sales. This surge was largely driven by Blur, an emerging NFT marketplace that quickly overtook established

The massive spike, which involved a whopping 430k ETH (approximately $780 million), was initially interpreted as a surge in the NFT market. However, closer investigation revealed that this was due to a technical issue rather than genuine market activity​​. Nansen went on to clarify that the NFT market is not yet back to robust health, tempering expectations for a swift recovery in the near future.

Despite this, the wedge pattern may still play out and ADA’s price could still drop to $0.38. Conversely, if it experiences a bullish breakout, then it could climb to as high as $0.4953 as a result.

Investors and traders will want to watch the previously-mentioned support level at $0.3562 for the next 48 hours, as a break below this mark will be catastrophic for ADA’s price. Should this level be breached, ADA will likely drop to the next support level at $0.3263 in the following 2-3 days.

if bulls are able to elevate ADA’s price back within the long-term wedge pattern, as well as above the next key resistance level at $0.38, then the altcoin’s price will look to climb to $0.4092 in the following 48 hours.

At press time, PEPE was up 11.50% against BTC and 12.20% against the leading altcoin. This recent price increase can be attributed to the 158% spike in the crypto’s trading volume, which stood at approximately $394.38 million.

The meme coin’s price has risen since then, as CoinMarketCap indicated that it was trading at $0.000001706 at press time. This is after PEPE’s price had printed a 24-hour gain of 12.46%. In addition, the altcoin strengthened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH) during this time period as well.

The blockchain tracking firm Lookonchain tweeted this morning that Machi Big Brother, a crypto whale, recently changed another one of his addresses to purchase Pepe (PEPE). According to the post, he had bought a total of 60 billion PEPE using 52 Ethereum (ETH), worth approximately $94K, at an average buying price of $0.000001565.

The altcoin market of the past week experienced some whale activities, with MTL, POWR, AERGO, and DIA among the top movers. Data from Santiment shows that, on average, each of these altcoins registered transactions worth over $10 million. That suggests that altcoin whales may be significantly interested in them.

There was unexpected big #altcoin movement to end the week, as sharks and whales shuffled around some mid and low cap assets. $MTL , $POWR, $AERGO , and $DIA were among the largest we have picked up, and any time smaller assets like these see $10M+ moves, they're worth watching.