Starknet’s dual scaling capability has garnered significant attention in the cryptocurrency market, particularly as Bitcoin and Ethereum experience price gains amid a backdrop of declining trading volumes. The Layer 2 protocol, designed to scale both Bitcoin and Ethereum through shared zero-knowledge (ZK)-based infrastructure, is being recognized for its potential to facilitate cross-chain interoperability, which could open the door to new decentralized finance (DeFi) use cases and asset flows.
Industry leaders, including Ethereum co-founder Vitalik Buterin, have emphasized the importance of integrating Bitcoin and Ethereum via a shared scaling solution. This integration is seen as a pivotal step towards enhancing the efficiency and trustlessness of asset movements between the two largest digital currencies by market capitalization. Such advancements may lead to more streamlined decentralized exchanges that leverage the deep liquidity pools of both networks.
As of April 6, 2025, Ethereum was trading at $1,807.19, reflecting a 1.55% increase over the previous 24 hours, with a market capitalization of $218.07 billion. However, trading volume saw a sharp decline of 22.38%, dropping to $13.12 billion. This decline in trading activity, although concerning, signals a cautious optimism among traders.
Price data reveals a notable upward trend for Ethereum, which surged from approximately $1,779.60 to over $1,820 late on April 4, maintaining its position above the $1,800 mark through April 5. The network’s total and circulating supply stood at 120.66 million ETH, with a volume-to-market cap ratio of 6.03%, indicating moderate trading activity relative to its total value.
Bitcoin, on the other hand, was priced at $83,445.91 on April 6, reflecting a 1.08% gain in the last 24 hours, with a market capitalization totaling $1.65 trillion. Despite its price increase, Bitcoin’s trading volume dropped significantly, falling from 22.17% to $32.15 billion. The price activity showed a late-day surge on April 4, with Bitcoin rising from around $82,660 to above $84,000 before consolidating near the $83,500 level into April 5.
Bitcoin’s supply is currently at 19.84 million, with a maximum supply capped at 21 million. The fully diluted valuation aligns with its current market capitalization of $1.75 trillion, and the volume-to-market capitalization ratio stands at 1.94%, reflecting low trading activity despite the higher price.
Meanwhile, the cryptocurrency sector is also buzzing with anticipation for the upcoming XRPL Apex 2025 event, confirmed by Ripple CEO Brad Garlinghouse. Scheduled to take place in Singapore from June 10 to June 12, this event is expected to be a significant milestone for XRP, bringing together developers, investors, and supporters. Garlinghouse hinted at "big announcements" that could further excite the community.
Currently, XRP is trading at $2.10, marking a 6% increase in just 24 hours, although daily trading volume has decreased by 31% to $5.2 billion. Analysts suggest that this reduction in volume may indicate strong holding behavior, which is often seen as a bullish signal during uncertain market conditions.
A recent survey by the National Cryptocurrency Association (NCA) revealed that 21% of Americans now include cryptocurrency in their investment portfolios, illustrating a growing trend in adoption. The survey also highlighted that 76% of crypto holders believe in the positive future of digital currencies, with 70% of holders being male, primarily from finance, construction, and tech sectors. Over 50% of respondents identified as millennials, while 15% were aged over 55.
Moreover, the survey noted that 39% of crypto holders use digital currencies for purchases, and 15% have even bought real estate with cryptocurrency. A significant 52% of respondents identified as long-term holders rather than mere speculators, and an impressive 73% expressed a desire for the U.S. to lead globally in cryptocurrency innovation.
As for XRP’s future, analysts predict it could soon reach a price range between $5 and $8, particularly as it approaches the third wave of the Elliott Wave structure, often associated with explosive bullish moves. Although Google search trends for XRP have dipped recently, this phenomenon is frequently observed in crypto markets where price surges occur just as public attention wanes.
In summary, both Starknet and Ripple are making significant strides in the cryptocurrency landscape, with Starknet’s dual scaling capabilities potentially revolutionizing asset movement between Bitcoin and Ethereum, while Ripple prepares for a monumental event that could further solidify XRP’s position in the market. As the cryptocurrency market continues to evolve, the developments surrounding these two protocols indicate a promising future for digital currencies.
