The cryptocurrency market displays instability amid regulatory expectations. Ethereum continues to fall, while XRP experiences a surge in activity among major holders.
Ethereum and SEC Decision Impact
Ethereum has dropped to around $1,580 following the SEC's delay in making decisions about ETFs. This announcement triggered a sharp 4% price drop, highlighting how regulatory actions impact the market. Technical analysis supports this movement: Ethereum's RSI is in oversold territory, and the MACD indicates bearish signals. Key support and resistance levels are at $1,587 and $1,732 respectively.
XRP Whales Activity
April has seen a surge in XRP whale transactions, with over 370 million tokens, worth approximately $765 million, moved. Most wallets holding between 100,000 and 1 million XRP have reduced their holdings, aligning with increased price fluctuations. Nevertheless, XRP remains above $2, currently priced at $2.08.
BlockDAG's Staking Announcement
During its latest AMA session, BlockDAG confirmed that staking will start immediately after the Mainnet launch. The program is designed with a reward system based on the amount staked. Transparency is emphasized, with reward details to be announced in advance, allowing users to prepare accordingly.
The cryptocurrency market remains tense as Ethereum faces regulatory uncertainty, while XRP shows significant activity from large holders. BlockDAG’s structured approach to growth may attract investors.
