1 Billion USDT Minting from Tether
Tether Treasury increased its circulating supply on the Ethereum network by minting another 1 billion USDT. The reason for this transaction is thought to be part of Tether’s inventory replenishment strategy and aims to be ready for future market demands.
Bitcoin Miners’ Transaction Revenues Increase 400% Annually in 2023
In 2023, $10 billion was earned by Bitcoin miners, adding to the $57 billion collected in the previous 15 years. According to data from Coinmetrics, Bitcoin miners generated an average of $2 million in transaction fee revenue every day in 2023. According to reports, the figure represents an increase of 400% over the previous year.
Inflows to Digital Asset Funds Continue Unlike Last Week
There was an inflow of 103 million dollars into digital asset funds last week. We see that the inflows continued after the low amount of outflows last week. Bitcoin had the highest inflow with 87.6 million dollars. When we examine altcoins, there were 7.9 million in Ethereum, 6 million in Solana and 1 million in Cardano. In addition, Avalanche had an outflow of $2.6 million.
Yuga Labs’ Metaverse Projects Dominate Land NFT Sales in 2023
In 2023, the largest metaverse sales were in Yuga Labs’ Otherdeed and Otherdeed Expanded projects. Yuga Labs’ top 10 metaverse terrain NFTs have sold between $276k and $514k this year. Yuga Labs’ Otherside is leading metaverse land sales more than a year after its launch.
Chainlink Co-Founder Thinks Bitcoin ETFs Will Boost Institutional Adoption
Chainlink co-founder Sergey Nazarov believes that with the approval of a spot Bitcoin ETF, it will create an avenue for institutions to buy Bitcoin in bulk, resulting in more blockchain products and services. “Blockchain technology is fundamentally about aligning transactions with the fundamental principles of banking, capital markets and asset management by making them more transparent, less risky and more efficient,” Nazarov said in an interview with CNBC.
Polkadot Price Outpaced the Market with 40% Increase
Solana, and Injective’s bullish price action is an example of how market money is shifting from Bitcoin to the altcoin market as it continues its consolidation price action. Another cryptocurrency experiencing a strong bullish surge is Polkadot, which has increased in value by 74% in the last month. For the first time since August 2022, Polkadot’s price reached $9, thanks to last week’s 40% bull move. Currently trading at $9.22, $DOT has a market capitalization of $11.6 billion.
Bitcoin Hash Rate Reaches New High
Christmas Day saw an all-time high in terms of the Bitcoin network’s computing power, or mining hash rate. But this has increased the pressure on miners despite the decline in profitability. Blockchain.com reported on December 25 that Bitcoin’s hash rate reached a record-breaking 544 exahashes per second (EH/s). Bitinfocharts confirmed the data, showing an average hash rate increase over the weekend. This comes at a time when network hash rates have increased 130% since January, more than double this year.
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BITCOIN(BTC)
Bitcoin is priced at $ 42,879 with a 1.59% loss in value as of today morning hours. Yesterday evening, the $43,500 level was tested again. Since this region is a strong resistance, there has been a retreat and it is approaching the first support position of $ 42,500. Pricing above $43,500 could lead to a rise up to $45,000. Pricing below $43,500 may cause a drop to $41,000 this time.
ETHEREUM(ETH)
ETH, which gained 1.56% as of morning hours, is priced at $ 2237. After crossing the middle band of the horizontal channel, we quickly moved to the upper part. We are currently facing strong selling pressure from the middle part of the horizontal band. If the 4-hour candle closure is also realized, a retreat to $ 2170 can be seen. In the continuation of the upward movement, $ 2340 can be seen.
RIPPLE(XRP)
XRP is pricing at $0.6222 with a 3.90% loss in value as of morning hours. There was an increase to the level of 0.65 dollars, but no permanence was achieved. To be sure of a bullish breakout in XRP, $0.65 needs to be breached. Below $0.65 would be, and has been, a pressurized pricing. With the gain of $ 0.65, rises up to $ 0.7266 can be seen. Below $0.60 may cause retreats down to $0.57. 0.62 seems to be the first intermediate support.
AVALANCHE(AVAX)
AVAX is priced at $ 46.06 with a 4.28% loss in value as of morning hours. After the $ 45 break was realized, persistence was achieved. We saw rises up to $50. Although it is reassuring that it is advancing with very bulky candles, it is useful to pay attention to the news. In case of a pullback, 46 to 44 dollars is a region that can work as support. If this region is tested, momentum may pick up and rises up to $ 50 can be seen again.
SOLANA(SOL)
SOL is priced at $115.92, down 4% as of morning hours. When we examine the hourly chart, SOL, which breaks the horizontal movement upwards, is pricing below the $ 117 zone again with a retreat after rising to $ 126. If the downward movement continues, a movement towards the $ 109 support zone can be seen. In order for the rise to continue, it is important to maintain permanence above the $ 120 region.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 15.300 with a 1.95% loss in value. When we examine the hourly chart, we see that the decline continues after the double top pattern formed in the 15.900 region. LINK, which is currently trading at the rising trend support point, may retreat to the $ 15 region if it breaks this level down. Further down, the $ 14,800 region can be followed as support. For the continuation of the rise, the $ 15,500 region appears as an important resistance.
ATOM
ATOM is priced at $ 11,950 with a gain of 0.55% as of morning hours. When we examine the hourly chart, we see that the horizontal consolidation zone is broken upwards and there is a rise towards the 12.30 region. With some retracement after this move, the 11.800 region appears as an important support. If the uptrend continues and persistence above the 2.20 zone is achieved, a movement towards the 12.6 zone can be seen.
NEAR
NEAR is priced at $ 4,300 with a gain of 1.12% as of morning hours. When we examine the hourly chart, we see that the strong rise continues. When we examine the resistance levels, we see that there is an upward movement up to the level of 4.5 with the upward break of the 3.7 and 4 dollar levels. With some retracement, the 4 dollar level appears as an important support level. If the rise continues, the 4.5 region can be followed as a resistance level.
