Monthly Trading Volume on Central Crypto Exchanges Reached the Level of 2.5 Trillion Dollars
Cumulative monthly spot trading volume on centralized crypto exchanges more than doubled in March, reaching approximately $2.5 trillion. Monthly spot transaction volume started to increase gradually after bottoming out at approximately 324 billion dollars in September 2023, hovering just over 1 trillion dollars in December and January and reaching 1.2 trillion dollars in February. In March, the transaction volume reached 2.48 trillion dollars, reaching this level for the first time since November 2021.
Solana’s Stablecoin Supply Exceeds $3 Billion
The supply of stablecoins on the Solana network has increased steadily since the beginning of the year, exceeding the $3 billion mark last week. Data from blockchain analysis platform Artemis shows that the supply of stablecoins on the network has increased by 55.72% in the last three months, reaching $3.12 billion. In addition, stablecoin transfer volume on the Solana network increased by 164% and reached 1.4 trillion dollars.
ProShares Launches Two New Bitcoin ETFs
ProShares, a leveraged fund-focused issuer, announced the introduction of two new Bitcoin products to capitalize on the growing demand for investment products focused on Bitcoin. While ProShares Ultra Bitcoin ETF (BITU) targets twice the daily spot Bitcoin returns, ProShares UltraShort Bitcoin ETF (SBIT), in contrast to the other product, works as a hedging mechanism in daily spot Bitcoin declines and targets twice the amount of the decline. According to the information, the management fee for both products is determined as 0.95%.
$1 Trillion Market Value Prediction for Ethereum Layer-2 Projects by 2030 from Van Eck Analysts
Ethereum’s Layer-2 scaling networks will reach a market cap of $1 trillion by 2030, according to analysts at management firm Van Eck. Layer-2 blockchains are poised to take advantage of Ethereum’s fundamental problem with its limited capacity to ‘process, store and compute data,’ Patrick Bush, Van Eck’s senior digital assets investment analyst, and Matthew Sigel, head of digital assets research, said in an April 3 report. .
Galaxy Digital to Launch $100 Million Fund
According to an email Galaxy Digital sent to its investors yesterday; Galaxy Digital Holdings is establishing a $100 million fund for new crypto companies. It will transfer at least more than $1 million to each of 30 companies over 3 years, especially to initiatives related to financial applications, software infrastructure and protocol creation.
Jump Capital Leads $7.5 Million Investment Round for Rainmaker
Rainmaker raised $7.5 million in seed funding, bringing its total funding to $10 million. According to the information disclosed, Rainmaker aims to build decentralized artificial intelligence tools and web3 infrastructure to support projects in sports, games, and entertainment. The mainnet is expected to launch in April 2024.
Bitcoin Ordinals Caught the Attention of Franklin Templeton
Franklin Templeton Assets said there were significant developments in Bitcoin innovation and development activity last year. He stated that the progress is primarily due to new projects such as Bitcoin NFTs, BRC-20 and Runes. He attributed the interest in Bitcoin Ordinals to the increasing volume in Bitcoin NFTs and stated that they created new terms accordingly.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $65,572 with a 0.61% loss in value. The decline continues after the loss of $70,000. The range between $65,000 and $64,500 appears as a strong support. If it holds at this level, a rise up to $68,500 can be seen. If the support level does not work, there may be a retreat up to $61,000.
ETHEREUM (ETH)
ETH is priced at $3300 with a 0.31% loss of 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 it seems to have received a reaction from this level. If this place does not work as support, there may be a withdrawal up to $ 3000. If the upward movement begins, a break above $ 3500 and persistence must be achieved.
RIPPLE (XRP)
XRP is priced at $0.709 with a 0.57% loss of value as of the morning hours. It follows a horizontal course at the level of 0.56 – 0.62. XRP had solid support levels at 0.6143 and 0.5830 but was lost. 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 $46.67 with a 1.70% gain in value as of the morning hours. The 48.00 and 45.00 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. On the other hand, if the 50.00 and 51.00 resistance levels are exceeded, AVAX can be expected to push the 60 target. The $40 level is seen as strong support in the continuation of the retreat.
SOLANA (SOL)
SOL is priced at $182.18 with a 1.51% loss of value as of the morning hours. When we examine the four-hour chart, we see that the $190 level, which we follow as an important resistance zone, has been tested and does not last longer than this level. With the withdrawal movement, there was a movement up to the $180 region. This zone can be followed as a support zone. With persistence above the support zone, the $185 and $190 levels can be tested again. In the downside breakout, a drop to the $175 level is possible.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $17,595, with a 0.63% loss in value. When we examine the four-hour chart, we see that there is a needle at the $ 17,500 level, which we follow as the support zone, and an upward reaction occurs from this area. If this movement continues, the $18 level appears as resistance, and if an upward break occurs, the $18,500 level can be tested. In case of withdrawals, the $ 17,500 level can be followed as support in the short term.
CHZ
CHZ is priced at $0.13619 with a 4.11% gain in value as of the morning hours. When we examine the hourly chart, we see that the horizontal movement between the $0.128 and $0.134 levels has been broken upwards. If this movement continues, a move towards the $0.14 level may be possible. In case of withdrawals, the $0.135 level can be followed as support.
BCH
BCH is priced at $625.4 with a 5.45% gain in value as of the morning hours. When we examine the four-hour chart, we see that with the withdrawal, the support zone of $ 560 was tested and an upward movement took place from this zone. If this movement continues, the $650 level can be followed as resistance. In case of short-term withdrawals, the $600 level can be followed as support.
