Cryptocurrencies suffered losses at the beginning of the week due to a correction phase caused by a combination of factors. However, Bitcoin’s value increased following concerns over banking stability and positive Q1 earnings reports from Alphabet and Microsoft. Ethereum is currently consolidating and facing resistance near the $1,925 level. The European Parliament passed MiCA legislation, which would increase investor confidence in the crypto industry. First Republic Bank experienced difficulties and revealed it would have to lay off over 20% of its workforce. Solana Labs introduced a ChatGPT plugin to simplify users’ interaction with the Solana blockchain.
