VanEck Reduces Spot Bitcoin ETF Fee to 0.20%
VanEck will reduce the fee for its spot Bitcoin ETF later this month, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Feb. 15. The firm announced that it will reduce the 0.25% fee on the spot Bitcoin ETF to 0.20%.
Spanish Telecom Giant Telefonica Partners with Chainlink for Enhanced Security
Spain-based telecommunications company Telefonica announced a strategic collaboration with Web3 solution provider Chainlink Labs on Thursday. With the partnership, the two firms will integrate real-world telecommunications capabilities into blockchain networks for enhanced security. The first use case in the partnership will include the SIM SWAP API offered by the ‘Global System for Mobile Communications Association’, a mobile network providing ‘Application Programmable Interfaces’ for developers.
JPMorgan Raises COIN Outlook to Neutral Due to Crypto Market Rally
Following a better-than-expected rally in the cryptocurrency market to start the year, JPMorgan raised its outlook on Coinbase stock (COIN) from underweight to neutral. In a research report shared with CryptoPotato, the bank’s analysts claimed that Bitcoin saw ‘meaningful price growth’ following the launch of Bitcoin spot ETFs last month.
Gold ETFs Witness $2.4 Billion Outflow in Bitcoin ETF Surge
Eric Balchunas, a Bloomberg Intelligence analyst, announced on February 14 that the top 14 ETFs tracking gold have seen a total outflow of $2.4 billion since January. Analysts warn against seeing this as a broad move from gold to Bitcoin, attributing it to FOMO in the US stock market.
Avalanche Network Addresses Grow 100% in 2023
The number of addresses on the Avalanche network will increase by almost 100% in 2023, Ava Labs President John Wu said in an interview with Tony Edward for the Thinking Crypto podcast. He also noted that the network currently hosts approximately 20 live subnets and more than 80 subnets. Wu focused on improvements to Avalanche that will increase the scalability of the network and highlighted some key partnerships that are fueling its growth. He emphasized that Avalanche is unique because it is a fast and scalable blockchain network.
US Federal Reserve Governor Waller Says DeFi Could Increase the Global Strength of the Dollar
Critics of cryptocurrencies often point out that digital currencies have the potential to weaken the US dollar. However, Federal Reserve Governor Christopher Waller noted that stablecoins’ dependence on the dollar could actually help the US dollar as decentralized finance (DeFi) gains momentum.
Listing of MicroStrategy in S&P 500 Index Could Be Positive for Bitcoin
MicroStrategy, the largest institutional holder of Bitcoin, is on track to become eligible for inclusion in the S&P 500 index, a milestone that could see it appear in ‘virtually every portfolio’. However, the Bitcoin-focused firm will need to meet eligibility criteria and achieve a high market capitalization before being included in the S&P 500 index. Finally, even if the criteria are met, S&P’s 11-member executive committee must approve MicroStrategy’s inclusion in the index.
Avalanche Plays Key Role in Citigroup’s Tokenization Success Story
US banking giant Citigroup has published a comprehensive report detailing the successful integration of Distributed Ledger Technology (DLT) into the private markets sector through fund tokenization on the Avalanche blockchain network. According to the report, DLT offers a significant opportunity to innovate capital markets infrastructure, provide innovative investment products and increase workflow efficiency.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $52,065, up 0.36%. $52,000 is a very critical level. After seeing $ 52,800, there was a sell-off and a retreat to this level. An increase up to $54,000 may be seen in prices above $52,000. If there is a break below $52,000, a pullback may be seen up to $50.8000.
ETHEREUM(ETH)
Ethereum, which gained 0.82% in value as of the morning hours, is priced at $ 2845. After a rise to $2866, there was a retreat to these levels. $2820 is a critical level, and as pricing continues above it, a rise to $2900 may be seen. If there is a downside break, the first support level appears at $2782.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.57 with a 1.46% gain in value. After a rise to $0.5788, there was a decline to $0.57. The 0.5580 region is a strong support zone, and if it moves upwards, a rise to $0.64 can be seen. If $0.5580 breaks down, $0.54 appears as the first support level.
AVALANCHE(AVAX)
AVAX is priced at $41.48 with a 0.17% depreciation as of morning hours. After rising to $43.60, it retreated and continues its correction. It is very important to maintain permanence above $41 for the continuation of the rise. If a gain of $41 is realized, a pricing of up to $45 may be seen. If a pullback occurs, a move up to $40 could be seen.
SOLANA(SOL)
SOL is priced at $113.1 with a 0.35% loss of value as of the morning hours. When we examine the hourly chart, we see that the horizontal movement between the $118.5 and $115 levels has been broken downwards. If the withdrawal movement continues, the $ 110 level can be followed as support. In upward movements, the $115 level appears as an important resistance level. If there is persistence above this region, the $120 level can be tested.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $20,062 with a 0.65% gain in value. When we examine the hourly chart, we see a horizontal movement between the $20,450 and $19,610 levels. When we look at it in the short term, we see a downward movement. With an upward break of the $20,110 level, which is located at the falling trend line, the $20,450 level can be tested. In case of a pullback, the $19,800 level may be tested.
RNDR
RNDR is priced at $5.4525 with a 2.84% gain in value as of the morning hours. When we examine the daily chart, we see that the resistance level of $ 5.27 has been broken upwards. If this movement continues, the $5.75 level may be tested. In case of a withdrawal, the $ 5.30 level can be followed as support.
ALGO
ALGO is priced at $0.1925 with a 2.72% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $0.1850 resistance level has been broken upwards. If this movement continues, the $0.1950 and $0.20 levels may be tested first. In case of a withdrawal, the $0.19 and $0.1850 levels can be followed as support.
