This month, the House has been busy with a series of congressional hearings on topics such as stablecoins, spot markets, and token classification. Representatives from the Financial Services and Agriculture Committees’ Digital Asset subcommittees heard from industry representatives and financial professionals about the challenges that arise when attempting to police the crypto business. Both committees are led by Republicans, but party lines remain visible throughout the House. The House Agriculture and Financial Services Committees will host a joint hearing on digital assets next month. Rep. French Hill, R-Ark., and ranking member Maxine Waters, D-Cali., are opposed to a draught bill for stablecoins. This month, the House has been busy with a series of congressional hearings on topics such as stablecoins, spot markets, and token classification. Representatives from the Financial Services and Agriculture Committees’ Digital Asset subcommittees heard from industry representatives and financial professionals about the challenges that arise when attempting to police the crypto business. Both committees are led by Republicans, but party lines remain visible throughout the House. The House Agriculture and Financial Services Committees will host a joint hearing on digital assets next month. Rep. French Hill, R-Ark., and ranking member Maxine Waters, D-Cali., are opposed to a draught bill for stablecoins. News Sorce

Some of the most amazing success and fortune stories have emerged from the cryptocurrency sector. The Winklevoss Twins, Erik Finman, Tim Draper, Charlie Shrem, and 50 Cent are a few of these. In 2013, the Winklevoss Twins made a Bitcoin investment, buying over 120,000 BTC at a cost of about $120. Erik Finman became a cryptocurrency millionaire in 2011 after investing $1,000 in Bitcoin. Tim Draper bought approximately 30,000 BTC seized from the now-defunct Silk Road bazaar after investing in a US Marshals auction. A well-known name in the cryptocurrency world, Charlie Shrem is currently working on many blockchain-based initiatives. News Sorce

The first quarter of the year saw a significant improvement in Solana’s performance, with its market cap rising by 118% and a number of ecosystem improvements boosting fee payer and transaction activity. With Marinade Finance, Lido, Jito, and JPool boosting their TVL by 100% or more over the course of the quarter, liquid staking derivatives (LSDs) continued to sustain the Solana ecosystem. Other protocols’ TVLs also increased, including those for Orca, Raydium, and Solend. According to Messari’s data, daily new NFTs increased by 12%, while USD sales volume increased by 36%. With 889,000 unique buyers and 887,000 unique sellers, buyers outnumbered sellers. After the FTX Implosion, there were rumors of a developer exodus due to Solana’s close ties to Sam Bankman-Fried’s crypto empire, but as more applications were released, the user base increased. Special offers such as Binance Free $100 and PrimeXBT Special Offers were launched to increase and stabilize active programs. News Sorce

On Friday, Bitcoin’s (BTC) price remained essentially constant in the mid-$29,000 range. The Fed is expected to raise rates by 25 basis points next week based on US economic data, but economists anticipate that the Fed will suspend its rate-hiking cycle in subsequent sessions due to worries over the banking crisis. The bull market for Bitcoin in 2023 is still strong, and long-term bullish indicators like the golden cross, 200DMA, and realised price encourage dip purchasing. A rally towards resistance in the $32,500–33,000 area and to new annual highs appears to be in the cards, according to chart analysis, which places the BTC price in the top part of a $26,500/$27,000 to $31,000ish range. News Sorce

The amount of Ethereum held by whales and sharks has increased, with 7091 addresses now holding 1,000 or more ETH. This shows that despite brief price changes, this group maintains a bullish long-term perspective. The development activity for Ethereum, meanwhile, has diminished, indicating a slowdown in significant innovation. The Market Value to Realised Value Ratio (MVRV) of Ethereum was 22.79%, indicating that during the previous year, sharks increased their earnings. However, there have been rumblings of a bull market recovery, which might dispel rumors that ETH is overpriced at the MVRV spot. The number of active addresses fell from 7.9 million to 5.8 million over the past 30 days, indicating a slowdown in Ethereum network activity. In most of 2022, ETH circulation decreased but has since improved to 46.8 million. News Sorce

A high timeframe momentum gauge suggests that bitcoin bulls may be preparing to surge sharply higher. For the first time since October 2021, the 4W LMACD is crossing bullish, and BTCUSD must remain bullish for a number of candles in order to confirm the crossover. This might portend a significant shift in momentum and cause a stampede in the cryptocurrency market. The LMACD is the Moving Average Convergence Divergence indicator’s logarithmic variant, which more clearly shows momentum shifts in relation to longer-term price movements. If verified, it would mark the third occurrence since the bear market lows near the zero line. A confirmed bullish crossover of the lagging LMACD indicator from close to the zero line has led to a massive rally. News Sorce