Crypto Outlook

-BTC: $27,415.66

-ETH: $1,858.97

-XRP: $0.4665

-LTC: $92.43

The global crypto market cap is $1.14T, a 2.29% increase over the last day. The total crypto market volume in the previous 24 hours is $29.98B, which makes a 38.66% increase.

BTC: BTC price increased by 2.44% and 1.28% over 24 hours and in the past seven days. The asset reached a low and high of $26,714.18 and $27,434.68, respectively.

Bitcoin NFTs have rapidly risen in popularity among non-fungible tokens, claiming the second position in NFT sales per blockchain over the past month, according to CryptoSlam, a Web3 data platform. This achievement is even more remarkable because Bitcoin NFTs were virtually nonexistent until the emergence of Bitcoin Ordinals earlier this year.

In the last 30 days alone, Bitcoin NFTs have generated an impressive $167 million in gross sales. While this amount falls short of Ethereum’s astounding $397 million, Bitcoin’s NFT sales are nearly three times larger than those on the Solana network, which have reached approximately $57 million.

ETH: ETH price increased by 3.06% and 1.89% over 24 hours and in the past seven days. The asset reached a low and high of $1,803.94 and $1,869.34, respectively.

The Ethereum network’s consensus mechanism is widely regarded as one of the most robust and secure crypto-economic systems available. Validators in the network currently hold approximately 18 million ETH, equivalent to around $34 billion, and this substantial stake ensures the successful finalization of blocks every 6.4 minutes.

In a recent post, Vitalik Buterin expressed his apprehensions regarding the reuse of validators for different purposes, as it may compromise the overall security of the Ethereum network.

Vitalik argues that when Ethereum stakers simultaneously use their stake as a deposit in another protocol, they become susceptible to challenges or penalties for violating the rules of that protocol. This opens up a potential avenue for manipulation or exploitation of the staking mechanism, which could ultimately undermine the security and integrity of the Ethereum network.

Additionally, Vitalik highlights the potential for contentious hard forks resulting from re-staking. Conflicting interests and incentives within the Ethereum community can potentially lead to network splits and disruptive events that hinder the network’s stability and progress.

XRP: XRP price increased by 0.49% and decreased by 1.82% over 24 hours and the past seven days. The asset reached a low and high of $0.4228 and $0.4313, respectively.

John Deaton, a lawyer supporting XRP, has brought attention to a seemingly insignificant detail found in a Ripple opposition brief from the previous year. He took to Twitter on May 22 to share his discovery of a footnote in a legal document submitted by Ripple. The footnote discloses that discussions concerning XRP had occurred among SEC staff before the infamous Hinman speech.

This revelation carries significance because internal disagreements within the SEC regarding the classification of XRP as a security could have a substantial impact on the outcome of the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). The information suggests that there may have been differing opinions within the SEC itself regarding the regulatory status of XRP, which adds an intriguing dimension to the legal dispute.

LTC: LTC price increased by 1.65% and 5.55% over 24 hours and in the past seven days. The asset reached a low and high of $90.74 and $92.99, respectively.

According to recent data, as of May 2, 60% of Litecoin (LTC) holders were profitable, while retail investors accounted for 50.55% of the total LTC supply. Additionally, transactions on the LTC network experienced a remarkable surge of over 397% at the time of writing. Moreover, the LTC hash rate, a network security measure, has increased by 25% year-to-date.

Reports from IntoTheBlock highlight significant growth for LTC in 2023. The upcoming halving event and the rising popularity of LTC20 assets contribute to the positive momentum of the nearly 12-year-old Litecoin blockchain. For more detailed insights into Litecoin’s on-chain activity, you can explore the #Litecoin section on IntoTheBlock’s website: link

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