Today, May 2, the price of Bitcoin fell below the $28,000 mark, causing it to lose value. This decline raises concerns about the sustainability of the market’s recent climb, leaving investors wondering whether this is a temporary blip or the beginning of a more severe market correction. Bitcoin’s recent 73% rebound from the 2020 crypto market crisis has stalled near $30,000, leaving traders eagerly awaiting new triggers to enhance the cryptocurrency’s value. The failures of Silicon Valley Bank (SVB) and Signature Bank have alarmed investors and depositors, who are concerned that First Republic Bank will be the next to go. The bank’s large proportion of uninsured deposits exceeds the FDIC’s $250,000 limit, putting a considerable percentage of its funds at risk. Four-month winning streaks in Bitcoin have historically been correlated with an average gain of 260% the following year, providing a ray of optimism for investors. News Sorce

Since the Shapella upgrade on April 12, the Ethereum network has seen a significant increase in transaction fees. Onchain costs have increased by more than 153%, from $4.65 to an average of $11.80 per transaction. Arbitrum’s daily transactions have likewise surpassed ETH following the Shapella Upgrade. This demonstrates an increase in onchain activity. Ethereum’s transaction volumes have remained below one million, hovering between 800,000 and 900,000 per day. Arbitrum has been outperforming the network’s transactions on a daily basis since the Shapella hard fork, with an average transaction fee of $0.368 per transfer. The market value of ETH has dropped 12.7% versus the US dollar, although it is still 1.4% greater than it was in the previous 30-day period.ETH’s market value is currently $222.7 billion, accounting for 18.097% of the total value of the cryptocurrency industry. News Sorce

Since the Shapella upgrade on April 12, the Ethereum network has seen a significant increase in transaction fees. Onchain costs have increased by more than 153%, from $4.65 to an average of $11.80 per transaction. Arbitrum’s daily transactions have likewise surpassed ETH following the Shapella Upgrade. This demonstrates an increase in onchain activity. Ethereum’s transaction volumes have remained below one million, hovering between 800,000 and 900,000 per day.ETH’s market value is currently $222.7 billion, accounting for 18.097% of the total value of the cryptocurrency industry. News Sorce

Ripple Labs’ legal battle with the US Securities and Exchange Commission (SEC) is still ongoing. According to Twitter, Ripple and the SEC will hold an unreported meeting on May 8. XRP community attorney John E. Deaton, on the other hand, would “bet” that the rumour is incorrect and that lawyers from the SEC and Ripple can meet whenever they want. According to John Deaton, a settlement between Ripple and the SEC would be reached only after a judgement by Judge Torres and only if Ripple wins a significant victory. He believes the SEC would not arrange a meeting owing to the allegation of market manipulation and the potential of a leak. Ripple may be concerned about the regulatory safety of its partners, and Ripple CEO Brad Garlinghouse is willing to sign a settlement cheque if the SEC classifies all future XRP sales as non-securities and does not appeal. At the time of publication, the XRP price has not yet reacted to the rumor. News Sorce