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.

The court filings, submitted in the early hours of May 25, show that the consortium will obtain Celsius Network’s institutional loan portfolio, staked cryptocurrencies, mining unit and other alternative investments. The group must make a $10 million deposit within three days to finalize the agreement.

Court filings have revealed that cryptocurrency consortium Fahrenheit emerged as the successful bidder to acquire insolvent crypto lender Celsius Network. The acquisition involves Celsius assets previously valued at approximately $2 billion.

There isn't much utility when it comes to BRC-20 tokens and Ordinals," said CJ Reim, contributor at blockchain firm CoreDAO, though he sees the trend as "promising" in terms of interest in building products on the bitcoin blockchain.

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.

As bitcoin's blockchain wasn't originally developed to support a crypto ecosystem, unlike Ethereum and Solana, BRC-20 tokens are created using ordinals theory, which allows data to be inscribed on each satoshi - the smallest denomination of bitcoin, or one hundred millionth.

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.

Lido stated last month that users would receive NFTs as part of the deposit withdrawal procedure. Any time a user unstakes Ether, the decentralized finance protocol issues NFT certificates, which are used to claim their ETH tokens.

Nansen’s decision was influenced by user votes following a recent mishap involving Lido, a decentralized finance (DeFi) platform. Lido’s staked withdrawal requests were mistakenly represented as NFTs, leading to an unexpected increase in NFT mint volume.

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.

ADA’s price had broken out of this wedge in the past 48 hours. Nevertheless, the chart pattern may still play out as bulls attempt to push ADA’s price back to within its range.

A long-term wedge pattern which was present on ADA’s daily chart suggested that a breakout was on the cards for the altcoin’s price in the near future.

The meme coin’s price climbed more than 12% as a result of the whales purchase.

On-chain data shows that the whale had purchased 60 billion PEPE using 52 ETH.

Lookonchain, a blockchain tracking firm, revealed in a tweet today that a whale recently bought a large amount of PEPE.

DIA registered a spike similar to AERGO’s during the week under consideration. With a capital injection of over $18 million, the price spiked to $0.32643 after bouncing off a local low of $0.27046 at the beginning of the week. DIA’s price at the time of writing was $0.29976 after correcting the recent spike.

POWR’s price did not change much within the week, despite recording a $30,735,157 transaction volume. The price bounced from a local low of $0.1532 but traded slowly to the upside. With a minor uptrend, POWR sold for $0.1641 as of the time of writing, attempting to break through a short-term trendline around the current price level.

Among the set, AERGO registered a spike resulting from the capital injection. The price rallied significantly after bouncing from a local low of $0.1066 at the beginning of the week. The rally terminated at $0.1400 before pulling back. AERGO traded at $0.1172 at the time of writing.