Spot Bitcoin ETFs Hold More Than 300 Thousand BTC
Less than two months after the start of trading, spot Bitcoin ETFs hold more than 300 thousand BTC. Accordingly, approved spot Bitcoin ETFs hold 1.5% of the total supply. Among ETFs, IBIT ranks first with 128 thousand BTC. FBTC ranks second with 94 thousand BTC.
Ethereum’s Dencun Upgrade Officially Activated on All Testnets
Ethereum’s Dencun upgrade officially went live on all testnets, setting the stage for mainnet activation on March 13, 2024. The Dencun upgrade introduces “protodanksharding” with EIP-4844, which aims to reduce Layer-2 transaction costs. Following the Shapella upgrade, Dencun aims to enhance Ethereum with new features such as temporary data blobs and improvements to the consensus and execution layers.
$598 Million Inflow to Wealth Funds
For the fourth week in a row, weekly inflows into digital asset investment products reached $598 million. This year’s inflows have now surpassed $5.7 billion. While the US witnessed the largest amount of withdrawals with inflows of $610 million, established issuer Grayscale experienced additional outflows of $436 million last week. Outflows from blockchain stocks resumed this week, totaling $81 million. This suggests that stock investors are being a bit cautious at the moment.
Uniswap to Launch Web Wallet Extension
Uniswap announced that it will launch a web extension for its native wallet. According to the announcement made yesterday, there is currently a waiting list for users requesting a uni.eth username. In its statement, Uniswap stated that they will share access to Uniswap Extension Beta in the order of username requests. The Uniswap Wallet extension will allow users to purchase and exchange various tokens and altcoins directly from their web browser.
Cardano Introduces Plutus V3 Engine
Cardano has introduced the Plutus V3 engine, which aims to revolutionize smart contract functionality and encourage developer innovation. Designed to increase smart contract capabilities, the engine aims to attract the attention of developers looking for advanced blockchain solutions. Additionally, the Plutus V3 engine offers advanced cryptographic capabilities, including optimal algorithm usage, Ethereum migration capability, and sidechain bridging.
Bitcoin L2 Tokens Soar to Double Digits as BTC Reaches 25-Month High
Even as Bitcoin reached a 25-month high, BRC-20 coins and Bitcoin scaling tokens outperformed the broader crypto markets on Monday. Amid a broader cryptocurrency rally, Bitcoin layer-2 network tokens including Stacks STX and RSK Infrastructure Framework (RIF) posted double-digit gains. Stacks, a smart contract platform focused on Bitcoin, has doubled its price in the previous 30 days, according to CoinGecko. It rose 30% from its intraday low of $2.44 to $3.21 in early trading on February 27.
PEPE and WIF Rise 50%, Focusing Investors on Ethereum and Solana Meme Coins
Prominent meme tokens such as WIF and PEPE on the Solana and Ethereum networks have increased dramatically, rising as much as 51% in the last day. Memes have gained an average of 13% over the last day. Ethereum’s frog-themed parody coin PEPE rose up to 51% in the last day, reaching prices last seen in May. Dogwifhat (WIF) from the Solana network rose over 65% before pulling back slightly.
Other Page Brings Advanced Web3 Profiles to Magic Eden NFT Marketplace
The Magic Eden of advanced Web3 profiles is being brought to the NFT market. It will be a collaboration between Magic Eden and Other Page to allow users to showcase their digital assets and heritage on different platforms. This will be accomplished through the creation of universal profiles that can include information such as game data, achievements, and NFT ownership. The article also states that Other Page plans to introduce gamification mechanics to the platform.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $57,100, up 0.12%. In the evening, the level of $ 57,600 was seen. The first support position is now $ 56,600, and with the reaction it receives from here, it may react upward again and move up to $ 60,000. If there is a deeper pullback, a move up to $54,700 could be seen. The $58,000 region is a very strong resistance area, and if it is exceeded, a rise to $60,000 can be seen.
ETHEREUM(ETH)
Ethereum, which gained 0.49% in value as of the morning hours, is priced at $ 3257. When we examine the four-hour chart, we are in a rising trend with strong momentum. It rose to $3288 yesterday afternoon, but faced a reaction and came back to these levels. $3230 is the intermediate support zone, and with the upward reaction it will receive from here, it can move up to $3300. In a pricing below this level, the next support zone appears to be $ 3140.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5789 with a 1.33% loss in value. When we examine the four-hour chart, it continued to rise after breaking the $0.5750 region. This area now appears to have been. In case of an upward movement, the $0.60 level must be broken upwards and sustained above it. The next resistance level is $0.62, and if there is an upward break, a rise to $0.65 can be seen. The first support level appears to be $0.5750.
AVALANCHE(AVAX)
AVAX is priced at $39.30 with a 0.10% gain in value as of the morning hours. When we examined the four-hour chart, persistence above $38 was very important and the rise took place. If the upward movement continues, the $40 level can be followed as resistance. If the support zone is broken downwards, a withdrawal movement to the $ 37.54 level may be possible.
SOLANA(SOL)
SOL is priced at $108.98 with a 0.57% gain in value as of the morning hours. When we examine the hourly chart, we see that it looks like an ascending triangle formation. In short-term movements, the $ 109.3 level appears as an important resistance point. If there is a breakout above this region, a move towards the $112 level may be possible. In case of withdrawals, the 107.8 – 108 dollar region, which is the rising trend support, can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $19,008 with a 0.02% loss in value. When we examine the hourly chart, we see that there is a horizontal movement between the $18.82 and $19.30 levels. If the reaction from the support zone continues, the $ 19.15 and $ 19.30 levels can be followed as resistance. If persistence is achieved above these two areas, $19.65 can be tested. In case of a withdrawal, if the support zone of $18.82 is broken downwards, the $18.50 level can be followed as support.
ALICE
ALICE is priced at $1,989 with an 11.17% gain in value as of the morning hours. When we examine the hourly chart, we see that there is no persistence above the resistance zone of $ 2,017. If it persists above this region, the $2.15 level can be tested. In case of a withdrawal, the $1.95 and $1.90 levels can be followed as support.
ACH
ACH is priced at $0.02863 with an 8.04% gain in value as of the morning hours. When we examine the four-hour chart, we see that the ascending triangle formation has broken upwards. If this movement continues, a move towards the $0.0295 level may be possible. In case of a pullback, the $0.028 and $0.027 levels can be followed as support.
