Litecoin [LTC] saw considerable selling pressure at the start of the week as the bears gained control of the market. The resultant decline has driven LTC near its August support level, putting it in an unstable zone.
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Amidst the scarcity of verifiable information, a group of cryptocurrency enthusiasts are proactively making moves.
Nike's .SWOOSH NFT drop encountered several stumbling blocks, whereas a Bitcoin NFT collection soared to the top of the charts, and the momentum of NFT lending continues to grow.
Bitcoin remains stagnant, inching closer to marking its first month of decline in 2023. Meanwhile, Ether experiences a slight increase but appears poised to end May in the red as well.
The recent hedging activity of market makers, who consistently take the opposite side of investors' trades, appears to have effectively maintained price stability within a narrow range.
The crypto debates have become progressively more polarized and politicized, exemplified by a recent CoinDesk article highlighting a contentious mining facility in New York.