BTC/USD: Sell idea and potential for further drop [Video]

With ten days to the Solana Breakpoint annual conference, the Solana network is experiencing heightened network activity. According to data from Artemis, Solana witnessed its highest single-day daily active address (DAA) growth on Tuesday after adding over 5.4 million new addresses.

Ethereum is up 1% on Tuesday as ETH exchange-traded funds continue underperforming with another day of outflows. The weak flows in ETH ETFs may be due to their historically weak Q3 performance. 

ENS Labs, the team behind the web3 domain naming system Ethereum Name Service, announced today that it has integrated its naming solution into PayPal and Venmo. Users of both platforms can now transfer their cryptocurrency using a domain name instead of a wallet address.

Ripple stablecoin prepares for launch in the next few weeks, according to CEO Brad Garlinghouse. RLUSD could benefit XRP through stablecoin gas transaction activity, says analyst. XRP trades at $0.53, corrects slightly on Tuesday. 

Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.

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