Grayscale CEO Says He Feels Optimistic About Spot Bitcoin ETF
Grayscale Investments CEO Michael Sonnenshein said he felt optimistic about his firm’s discussions with the Securities and Exchange Commission (SEC) about the potential for a spot Bitcoin ETF. Sonnenshein said, “We are in active contact with the SEC. The questions we have received from them show us that they want to deal with this issue and are eager to make progress on this issue.”
20,000 Blocks to Bitcoin Halving
There are 20,000 blocks left until the much-anticipated Bitcoin halving on April 17. With this halving, block rewards will drop from 5.25 BTC to 3.125 BTC.
Collaboration between Circle and Nubank
Circle announced a partnership with Nubank, a digital finance platform, to increase the reach of USDC in Brazil. This collaboration has the potential to reach more than 90 million customers in Brazil, Mexico and Colombia.
Grant Program for Developers from the Worldcoin Foundation
The Worldcoin Foundation, a non-profit organization that aims to drive the future development of the network, announced the launch of a grant program for developers. The foundation’s first grant program has an initial pool of $5 million to be awarded to developers. Grants will be awarded in WLD.
IEEE Chooses Avalanche Blockchain for Authentication System
The authentication system used by the Institute of Electrical and Electronics Engineers (IEEE) will use the Avalanche blockchain. The IEEE’s decision to use Avalanche’s C-Chain as the primary settlement layer for certificate issuance was driven by the need for an ecosystem compatible with the Ethereum Virtual Machine (EVM).
Bitcoin’s Market Cap Leaves Major Companies Behind
Bitcoin’s market capitalization has surpassed financial giant Berkshire Hathaway, tech giant Meta and electric car company Tesla. With the recent rise, Bitcoin’s market capitalization reached 859 billion dollars. With this market capitalization, Bitcoin is currently the seventh most valuable traded asset in the world.
Société Générale to Launch Euro-Pegged Stablecoin
Société Générale, France’s third largest bank, is preparing to issue a stablecoin called EUR CoinVertible (EURCV). EURCV is an Ethereum-based stablecoin pegged to the Euro. This will allow bank clients to have broad access to the emerging digital asset market.
Request from the Judge by Terraform Labs
Terraform Labs, creator of the failed Terra stablecoin (UST) and the LUNA cryptocurrency, has asked a judge in New York to allow a jury to decide the tokens’ regulatory status. The Securities and Exchange Commission insists that the matter be decided by a judge. The SEC sued Terraform Labs and its co-founder Do Kwon in February, alleging that they raised billions of dollars from investors by “offering and selling a bundle of interconnected crypto-asset securities, many in off-the-books transactions.”
Versatus Raises Seed Round to $50 Million
Versatus Labs (formerly VRRB Labs) has raised $2.3 million in seed funding at a valuation of $50 million. The startup was previously building a Layer 1 network and has now turned to blockchain scaling. Investors in the round include NGC Ventures, Republic Crypto and Hyperithm. Andrew Smith, founder and CEO of Versatus, told The Block that there were no lead investors in the round and that it was an equity plus token warrant round. Versatus, formerly known as VRRB Labs, began raising for the round in June and closed in August, Smith said. The seed round brings Versatus’ total funding to $3.7 million after a $1.4 million pre-seed round in February at a valuation of $20 million.
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BITCOIN(BTC)
Bitcoin is priced at $ 43,978 with a 0.49% gain in value as of today morning hours. Yesterday, it went up to $44,250 but could not hold on to those levels. 42,000 dollars was a difficult zone to overcome and it was overcome with a hard break. Pullbacks up to $ 42,500 are normal, and the price going sideways for a while between $ 42,500 and $ 41,000 will be a more positive movement for the future. Persistence at $ 44,000 can first take the price up to $ 46,200.
ETHEREUM(ETH)
ETH, which gained 1.49% as of morning hours, is priced at $ 2265. ETH rose as high as $2311 and then completed its retreat to $2260. After yesterday’s move, we can now consider this region as a strong support as it reacted from the weekly opening price of $ 2192.96 and realized a rise up to $ 2300. In pricing below $ 2200, retreats up to $ 2150 can be seen. In the continuation of the upward movement, 2450 dollars will be the first resistance level. It looks like a horizontal movement has started in the short term. The support and resistances of this zone may also work in the future.
RIPPLE(XRP)
XRP is priced at $0.6493 with a 1.38% gain as of morning hours. Yesterday’s analysis indicated that there could be outflows up to 0.64. Pricing above 0.64 is now visible. If persistence is achieved here, the first target may be towards $ 0.6740. In case of a pullback, $0.64 is likely to work as fresh support, but if a deeper decline occurs, a drop to $0.63 could be seen.
AVALANCHE(AVAX)
AVAX is priced at $ 26.97 with a 2.86% gain in value as of morning hours. After the horizontal break, there was an increase up to 27 dollars. Although it reacted at $27 and could not exceed it, it seems to have received its first reaction at $25.50. In the continuation of the retreat, $ 24 seems to be the first support position. In the continuation of the upward movement, the first target will now be the persistence above $ 30.
SOLANA(SOL)
SOL is priced at $ 63.64 with a 2.88% gain as of morning hours. Yesterday, we see that the resistance level of 64.50 could not be passed and there was a consolidation movement below this level. If this level is exceeded, the $ 66 level appears as resistance. If the rise continues, an increase towards the $ 70 level can be seen. In case of a pullback, 61.50 can be followed as an important support level.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 15.710 with a 2.92% loss in value. When we examine the four-hour chart, we see that the ascending triangle pattern is broken upwards and there is a movement up to the 16,300 level. LINK, which could not provide permanence in this region, retreated to 15,200 yesterday and received some reaction from this region. If the rise continues, the $ 16 level can be followed as resistance. In case of a pullback, the 15,200 and 15 dollar levels appear as important support points.
FIL
FIL is priced at $ 5,052 with a 6% gain in value as of morning hours. When we examine the four-hour chart, we see that the resistance zone of 4.845 has been broken upwards. If the upward movement continues, the 5.300 level can be followed as resistance. In case of a pullback, the 4.900 level can be followed as support.
ALGO
ALGO is priced at $ 0.1620 with a 6% gain as of morning hours. When we examine the daily chart, we see that the resistance zone of 0.1540 has been broken upwards. If the upward movement continues, a rise towards the 0.1700 region can be seen. In case of a pullback, the 0.1580 level can be followed as support.
