Cryptocurrency Market Update: Corporate Adoption Gains Momentum Despite Bitcoin's Sluggish Performance

The recent surge in cryptocurrency prices has lost steam since bitcoin reached a record high of over $110,000 last month. Nevertheless, major corporations continue to invest heavily in the crypto space. Norwegian Block Exchange, a Norway-based crypto exchange, saw its shares skyrocket by over 100% after announcing the purchase of six Bitcoins, valued at approximately $633,000, with plans to increase its holdings to 10 Bitcoins by the end of the month. Classover Holdings Inc, a Nasdaq-listed educational technology company, has signed a securities purchase agreement with Solana Growth Ventures LLC for up to $500 million in senior secured convertible notes, with up to 80% of the proceeds allocated to purchase Solana's native token SOL. Ripple's enterprise-grade stablecoin RLUSD has secured regulatory approval from the Dubai Financial Services Authority, paving the way for the stablecoin to support the Dubai Land Department's blockchain initiative to tokenize real estate title deeds on the XRP Ledger. In other news, Robinhood has completed a $200 million all-cash acquisition of the Luxembourg-based crypto exchange Bitstamp, expanding its presence in Europe. On the market front, U.S.-listed spot bitcoin ETFs experienced a net outflow of $268 million on Monday, marking the third consecutive day of outflows, while Ethereum spot ETFs recorded a net inflow of $78.17 million, extending their streak to 11 consecutive days. The dollar index remains under pressure due to growing trade uncertainty and rising concerns in the bond market over the U.S. deficit. Today's focus will be on April's JOLTS report, which will highlight job openings and layoffs, as well as durable goods orders. The market is also awaiting the testimony of Aptos Labs CEO Avery Ching at a U.S. House hearing on 'The Future of Digital Assets.'