Bitcoin consolidates at $50,000 with investors booking profits

economictimes.indiatimes.com:

Bitcoin experienced a surge, reaching the $53,000 mark, but is currently undergoing consolidation around the $50,000 level, primarily due to an uptick in profit booking. Despite facing bearish pressure, Bitcoin remains resilient above the crucial $50,000 threshold, indicating a prevailing optimism among most investors regarding its long-term prospects.

Meanwhile, Ethereum achieved a milestone by reaching the $3,000 level for the first time since April 2022. The speculation surrounding the potential approval of Ether exchange-traded funds (ETFs) in May played one of factors driving the recent surge in Ethereum's price.

In a noteworthy development, Reddit has divulged its strategic investment in Bitcoin (BTC), aligning itself with the likes of MicroStrategy and Tesla in acquiring digital assets. Additionally, Reddit disclosed the inclusion of Ether and MATIC in its portfolio, accepting them as forms of payment for certain virtual goods. Furthermore, Reddit has filed with the U.S Securities and Exchange Commission (SEC) for a listing on the New York Stock Exchange under the ticker symbol ‘RDDT’.

The recent airdrop of STRK tokens on Starknet saw an impressive uptake, with over 70% of the newly distributed tokens claimed within the initial 24 hours. A staggering 490,000 individual users participated in claiming 420 million tokens, resulting in a record-breaking 1.06 million daily transactions on Starknet, reaching 45.2 transactions per second during the peak of the airdrop claim.

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