Global

After making two attempts to leverage their long position on Ethereum ($ETH), the second-largest cryptocurrency by market capitalization, a huge cryptocurrency whale lost over $4.5 million. This was because they had to settle their debt on a decentralized protocol as the price fell.

While other cryptocurrencies are making a shaky comeback, Bitcoin [BTC] has taken a beating, falling from $64,000 to $62,000 in just seven hours. Investors were uneasy as Ripple [XRP] displayed a sequence of drops on its weekly chart, continuing a similar trend of activity.

Over the past week, there has been a notable 21% decrease in Solana's native token, SOL, which has reached its lowest value in almost six weeks. Given that SOL's price increase of 61% in March, investors may have been unduly enthusiastic. This decline has resulted in significant liquidations of leveraged long SOL futures contracts totaling $113 million since April 11.

Shibarium, Shiba Inu's blockchain initiative, has garnered notice with a sharp comeback. The most recent statistics indicates that the number of active accounts on Shibarium has risen to over 25,000, an incredible 3,500% gain since early April and an 80% increase from the previous day.

Predicted data indicates that the interest in the "Bitcoin halving" on Google has increased to an all-time high, more than twice that of the last halving in 2020.

For some industry insiders, the much-awaited approval of spot Bitcoin exchange-traded funds (ETFs) in Hong Kong earlier this week marks a major turning point. Some caution that the optimistic event may be overshadowed by stronger market dynamics, such as ongoing inflation and geopolitical risk.