More than $800 Million inflows into Digital Asset Funds
There was an inflow of $862 million into digital asset funds last week. We see that the re-entries continue after the high outflow of the previous week. The highest entry amount was in Bitcoin, as always, with $865 million. When we examine other coins, there was an outflow of 18.9 million dollars in Ethereum and 2 million dollars in short-Bitcoin, while there was an inflow of 6.1 million dollars in Solana, 1.1 million dollars in Cardano and 2.4 million dollars in Polkadot.
Tether Completes ‘Gold Standard’ Security Audit
Tether announced that it has successfully completed its System and Organizational Controls (SOC) audit, which is the highest level of security compliance. Auditing was developed by the American Institute of Certified Public Accountants (AICPA). Additionally, the company aims to obtain SOC 2 Type II certification, which evaluates the effectiveness of Tether’s internal controls over a 12-month period, by the end of 2025.
Solana DEX Trading Volume Broke a Record in March
According to data, transaction volume on decentralized exchanges on Solana exceeded $58.4 billion in March, reaching the highest monthly level of all time. The previous highest level was in December 2023, at approximately $28.5 billion. The biggest reason for breaking this record is considered to be the meme coin craze.
Tether Becomes the Seventh Largest Bitcoin Holder
Tether has become the seventh largest holder of Bitcoin worldwide after purchasing more than 8,000 BTC in the past day. According to on-chain data, on March 31, Tether purchased 8889 BTC worth $618 million. Tether’s total BTC assets are 75,354 BTC, worth $5.23 billion. Thus, Tether appears to have 0.3% of the circulating supply.
dYdX’s Journey to the Cayman Islands
dYdX, a decentralized exchange, plans to move some of its operations to the Cayman Islands as US regulators turn attention to DeFI protocols. The vote on Sunday said dYdX would transfer its operating foundation to a foundation company in the Cayman Islands. As part of crypto-friendly laws, the Cayman Islands allows international businesses to establish trust companies within its borders.
Crypto Venture Capital Funding Increased 53% in March
RootData analysis shows that 180 investments were successful, the highest number on a monthly basis since April 2022. 20% of deals received investments between $1 million and $3 million, while just over 15% received investments between $5 million and $10 million. Although the majority of funded projects are based in the United States, they only account for less than 10% of the total number of deals. Optimism, on the other hand, achieved the biggest increase of the month by selling $ 89 million of tokens in a secret agreement.
New Regulation from Argentina
The Argentine government has called on all local crypto firms to register with a new regulatory body or cease operations altogether. This regulation also covers businesses that allow customers to buy, sell, trade, lend, send or receive cryptocurrency. The main goal is to prevent money laundering and prevent the financing of terrorism.
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BITCOIN(BTC)
As of the morning hours, BTC is priced at $66,850 with a 4% loss in value. Selling pressure was seen after the triple top. After the loss of $ 68,500, there was a retreat to $ 66,000 and it seems that support has been received from here for now. $64,000 is support, and in case of an upward movement, a rise can be seen up to $68,500. If $64,000 fails to act as support, pullbacks to $60,755 could be seen.
ETHEREUM(ETH)
ETH is priced at $3374 with a 3.70% loss in value as of the morning hours. $3680 appeared as strong resistance. With pricing below $3400, there was a retreat to $3300. $3200 is the major support, and if pricing is seen above this level, there may be a rise again up to $3500. If $3200 does not work as support, $3000 can work as support.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5992 with a 1.95% loss in value. It follows a horizontal course at the level of 0.58 – 0.62. XRP has solid support levels at 0.6143 and 0.5830. A fall in price below these levels raises the possibility of a short-term correction. On the other hand, if the 0.6530 and 0.6720 resistance levels are exceeded, XRP can be expected to push the 0.80 target. Breaking these resistance levels may pave the way for the upward trend to gain momentum.
AVALANCHE(AVAX)
AVAX is priced at $48.03 with a 6.50% loss in value as of the morning hours. The 46.00 and 43.00 levels appear as solid support levels for AVAX. There is a horizontal movement in this region in the short term. A fall in price below these levels raises the possibility of a short-term correction. We see that the upward trend has broken down. On the other hand, if the 50.00 and 51.00 resistance levels are exceeded, AVAX can be expected to push the 60 target.
SOLANA(SOL)
SOL is priced at $182.3 with a 5.18% loss of value as of the morning hours. When we examine the four-hour chart, we see that the rising trend line and the $190 level, which we follow as support, have been broken downwards. If this movement continues, the $180 region can be followed as support. If the support zone is broken downwards, a retreat to the $170 region may be possible. In upward movements, the $185 level appears as resistance.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $17,695, with a 3.65% loss in value. When we examine the four-hour chart, we see that the $18 level, which we follow as the support zone, has been broken downwards. If this movement continues, first the $17,300 region and then the $16,500 region below can be followed as support. In upward movements, if there is a persistence above the $ 18 level, the $ 18,500 region can be followed as resistance.
MKR
MKR is priced at $3846 with a 2.91% gain in value as of the morning hours. When we examine the four-hour chart, we see that after the upward movement up to the $ 4000 level, there was some retreat, but there was a reaction at the $ 3600 level. If this reaction movement continues, the $ 3900 level appears as an important resistance area. If it persists above the resistance zone, the $4000 level can be tested again. In case of withdrawals, the $ 3700 level can be followed as support.
MATIC
MATIC is priced at $0.9062 with a 4.67% loss in value as of the morning hours. When we examine the daily chart, we see that the $0.94 support zone, which is a downward movement, has been broken downwards. In case of a daily close below this region, the $0.85 region can be followed as support. In upward movements, the $0.94 level, which was the previously broken area, can be followed as resistance.
