The cryptocurrency market and Bitcoin had some small losses on April 29. This happened at the same time as the expiration of $4.2 billion of Bitcoin options contracts. Since Bitcoin reached a high in excess of $56,400 on April 28, its value has fallen 6%, down to $53,000. Ethereum is still trading above $2,700.

Although the market activity has decreased, there are ongoing signs of integration of cryptocurrency into the mainstream financial system. Coin Base announced that its users can purchase as much as $25,000 in cryptocurrency every day with a PayPal account. In Ethiopia, the government set up a partnership with Input Output Hong Kong. This is the research and development branch of Cardano. The goal of the partnership is to overhaul Ethiopia's educational system through blockchain technology.

Even though Bitcoin is struggling to breach the $55,000 resistance level, the pairing of it and Ether has increased in price. This was predicted by a lot of financial analysts. The bull movement has sparked more conversations about Ether's price eventually besting that of Bitcoin. According to one of those analysts, Ether has been getting stronger compared to Bitcoin for about six weeks. It has an upgrade on the way. The upgrade will be a good catalyst for an extension of the bull run.

The forward direction of Ether suggests that the market is in a buy the rumor, sell the news plan. He added that the Ethereum upgrade is getting close to an Ether 2.0. It will have features including proof-of-work to proof-of-stake and a burning fee setup. Those options will be an incentive for investors.

The drooping value of Bitcoin was also depressing for the larger market for digital coins. Most of the coins also had small losses. A couple of exceptions to this rule include Syscoin, which had spiked by 45%. The XVS token had an increase of 30%, which brought it close to its record high. Waves had a 20% surge that took it to a new record-high level. The total cryptocurrency market cap is currently at $2.035 trillion, and Bitcoin's market dominance rate is at 48.8%.