Grayscale Resubmits Bitcoin ETF Application as Barry Silbert Leaves
On the same day that Grayscale’s parent company Digital Currency Group announced that its CEO was leaving the board, cryptocurrency asset management Grayscale filed an updated S-3 filing with the US securities regulator. Several observers in the cryptocurrency industry speculate that Silbert’s exit could significantly increase the likelihood that Grayscale, which is currently awaiting a response from the Securities and Exchange Commission, could effectively convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.
Russia to Introduce Comprehensive Crypto Legislation in 2024
Russia aims to enact cryptocurrency legislation by 2024 and additionally plans to introduce a cross-border cryptocurrency payment system. Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, confirmed the importance of using cryptocurrencies for international payments, noting that efforts are underway to pass legislation in April.
Non-Voting Transactions in Solana Reach Highest Level in a Year
According to The Block’s Data Dashboard, non-voting transactions on the Solana network reached their highest level of the year. The seven-day moving average of non-voting transactions on the Solana network reached 34 million. A non-voting transaction usually refers to the movement of SOL between different Solana accounts. This marks a significant increase in user activity on the layer 1 network.
Mt. Gox Creditors Finally Receive Repayment of Bitcoin Assets
Social media posts have surfaced indicating that creditors of the now-defunct Mt. Gox Bitcoin exchange has begun to receive payments in currency for long-held Bitcoin assets. Payments to creditors will be made in three installments: a basic payment, an early lump sum payment and an interim payment. These funds have been inaccessible since February 2014. According to posts on Reddit, Mt. Gox has started paying consumers in Japanese Yen through PayPal for their refunds.
Justin Sun Withdraws $13.8 Million ETH from Exchange
Justin Sun, the founder of Tron, withdrew a significant amount of ETH from the cryptocurrency exchange Binance, worth approximately $13.8 million. Many in the crypto community started discussing it and asking questions about what was going on. The price of ETH dropped slightly when Sun withdrew the funds, but surprisingly more people started trading ETH and trading volume increased by more than 15%.
Volume Record for Solana DEXs
According to the data, liquidity on Solana’s largest decentralized exchanges (DEXs) has increased by ten profits since October 17. In addition, December DEX volume at Solana was almost three times higher than the high recorded in November. This volume increase was driven by two major airdrop events on Solana.
Increase in the Number of Bitcoin Millionaires
According to the latest data, the number of addresses with more than $1 million in Bitcoin has increased by 221% since the beginning of the year to 90,360. In addition, the number of addresses with more than $10 million in Bitcoin has reached 7,500. This value was 3,800 at the beginning of the year. The increase in the number of Bitcoin millionaires is thought to be due to Bitcoin outperforming other asset classes in 2023.
Cryptocurrency Hack Incidents Declined by 50% in 2023
Cryptocurrency attacks more than halved in 2023 compared to the previous year. This reduction shows that increased confidence measures and increased scrutiny are working. According to reports by research firms, a total of 1.85 billion dollars was stolen through cryptocurrency attacks in 2023. This value was 4 billion dollars in 2022. Although there is no significant difference in the number of attacks, the decline in the value of stolen assets represents an important development for industry security.
Total Shibarium BONE Transfers Exceed 1 Million Transactions
Shibarium reached an important milestone with BONE transfers crossing the one million transaction mark. This success highlights the growing use and utility of the Shibarium network despite the shifting focus in the meme coin sector. On-chain data for Shibarum shows a steady growth in the number of newly opened accounts and transaction volume, indicating an active network.
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BITCOIN(BTC)
Bitcoin is priced at $ 42,440 with a 0.14% loss in value as of today morning hours. Yesterday afternoon, there was a retreat to the level of 41,700 dollars. Since this region is a strong intermediate support, it has risen above $ 42,000 again. Pricing above $42,500 may cause an increase up to $44,400. Pricing below $ 42,500 may cause a decline to $ 40,500 this time.
ETHEREUM(ETH)
ETH, which gained 0.34% as of morning hours, is priced at $ 2223. After the middle part of the horizontal band broke downward, there was a decline to the $ 2170 region, but there was a quick reaction and a rise to $ 2222. Pricing above $2250 is very important for the continuation of the upward movement and may cause an increase up to $2400. If a horizontal movement below $ 2250 is followed by a horizontal movement and breakouts begin to be seen, there may be pullbacks up to $ 2085.
RIPPLE(XRP)
XRP is priced at $0.6180 with a 0.63% loss in value as of morning hours. It fell to $0.60 but could not be sustained. 0.60 dollars has been tested a lot since last month. To be sure of a bullish breakout in XRP, $0.65 needs to be breached. 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 $ 43.58 with a 1.90% loss in value as of morning hours. A break below $43.65 could be a sign that the pullbacks will continue. The next support zone after this level seems to be 41 dollars. If above $ 45 is maintained, rises up to $ 50 may occur again.
SOLANA(SOL)
SOL is priced at $110.69, down 1.63% as of morning hours. When we examine the hourly chart, we see that there is a decline to the level of 103 dollars with the retracement movement and an upward reaction from this region. 108 and 103 dollar levels can be followed as support zones. In addition, the falling trend line needs to be crossed for the uptrend to continue. If the movement continues, there may be an increase towards the $ 117 region if the permanence above the $ 112.5 level is achieved.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 14.860 with a 1.54% loss in value. When we examine the hourly chart, there was a downward break of the $ 15,200 level, which is the support zone, and a retreat to the level of $ 14,700. LINK, which currently creates a double bottom image in this region, may rise up to the 15.100 region if the upward movement continues. With a downward break of the support zone of 14,700, a movement towards the 14,400 zone can be seen.
MATIC
MATIC is priced at $1.0214 with a gain of 0.2% as of morning hours. When we examine the daily chart, we see that the 0.9425 level, which is the horizontal resistance zone, has broken upwards and we see a pricing above the $ 1 level for the moment. If this movement continues, a movement towards the 1.10 region can be seen. In case of a pullback, the 0.98 region can be followed as support.
RNDR
RNDR is priced at $ 5,011 with a 3% depreciation as of morning hours. When we examine the four-hour chart, we see that the cup handle pattern was broken upwards and then the resistance zone broken by the retracement movement was tested. If the upward movement continues, the first resistance level is 5.2 dollars. In case of a pullback, the 4.80 dollar region can be followed as support.
