Introduction to Digital Asset Funds
Last week, there was an inflow of 646 million dollars into digital asset funds, thus breaking a new record by reaching 13.8 billion dollars since the beginning of the year. The highest entry was in Bitcoin, as always, with $663 million. On the short-Bitcoin side, there was a rise of $9.5 million for three consecutive weeks. On the Ethereum side, there was a rise of $ 22.5 million for four consecutive weeks. In Solana, there was an inflow of 4 million dollars.
New Project Announcement from PancakeSwap
PancakeSwap, a decentralized exchange platform, has partnered with Stryke to introduce a new project in the DeFi space. This project is known as CLAMM Options Trading. CLAMM Options Trading will enable investors to now trade options, create on-chain option liquidity, earn premiums and receive clearing fees. This partnership introduces American-style CLAMM options that will be launched on the Arbitrum blockchain.
Collaboration Between 1Inch Network, Baanx and Mastercard
1inch Network has partnered with crypto card developer Baanx to create a Web3 debit card powered by payments giant Mastercard, according to an announcement Monday. 1inch Card will allow users to use their crypto for online and in-person purchases and withdraw cash at supported ATMs through seamless crypto-to-fiat conversion.
Spot Bitcoin ETF Application from China-Based Companies
Hong Kong subsidiaries of two China-based asset management firms have applied to offer spot Bitcoin ETFs in the administrative region. Harvest Fund and Southern Fund, both based in Hong Kong and each managing more than $200 billion in assets, submitted their formal demands on Monday. Due to severe restrictions on cryptocurrency trading and mining, asset managers cannot offer ETFs in China.
Artificial Intelligence Support Package from the Government of Canada
The Canadian government announced that it will allocate $1.76 billion from its federal budget to strengthen the artificial intelligence sector and maintain the country’s ‘competitive advantage’ in the field of artificial intelligence. The government has announced a new package to ‘secure Canada’s AI advantage’, which includes investing in AI-related startups, mid-market businesses and research firms.
Mobility in Coinbase and MicroStrategy Shares with Strong Performance in Bitcoin
Crypto-related companies got off to a positive start to the week after Bitcoin broke the $72,000 mark for the first time since mid-March. Shares of Coinbase and MicroStrategy, listed on Nasdaq, gained 8% and 12%, respectively, in pre-session trading. With these value gains, Coinbase exceeded the $ 260 level, while MicroStrategy exceeded the $ 1000 level.
BlackRock’s IBIT ETF Nears $20 Billion in Assets
IBIT, BlackRock’s spot Bitcoin ETF, has achieved almost $20 billion in assets, placing it in the top 3% of all ETFs. Additionally, on the IBIT side, we see that there has been money inflow for 59 days in a row, thus IBIT is in the top 20 in the money inflow ranking.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $71,152 with a 0.59% loss of value. Following the upward trend on its hourly chart, Bitcoin also broke through the 71,300 – 71,500 range and rose to the 72,800 level. We see that Bitcoin, which returned to a slightly more bearish price performance after the US opening, has re-tested the 71,200 region for now. If Bitcoin cannot remain strong in this region, we can say that it may retreat to 70,300. The most important region for Bitcoin in terms of closing will be the 71,200 – 71,500 range.
ETHEREUM (ETH)
ETH is priced at $3690 with a 0.11% loss of value as of the morning hours. When we examine the 6-hour chart of Ethereum, we see that it rose to the 3700 band after the reaction from 3200. This turnaround for Ethereum, which has remained negative compared to the entire market for a while, and the 14% movement seen yesterday enabled the market dominance to recover slightly. The next critical levels for Ethereum will be the 3700 and 4000 levels. In the downward movement, 3445 will be the first important support level.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.6172 with a 0.41% gain in value. XRP, which was priced positively with the rise of the market yesterday, rose above the 0.60 region and rose to the level of 0.63. It will be important to ensure permanence above 0.6160 in XRP, which is currently re-testing the middle band of the horizontal channel movement.
AVALANCHE (AVAX)
AVAX is priced at $49.22 with a 1.26% loss in value as of the morning hours. With the rise seen yesterday, AVAX tested the $50 band, one of its critical levels, and retreated to $49 after the reaction it received from here. We can say that the critical levels for AVAX are first 48.30, and then the 43.30 – 45.20 range, which has been working for a long time and made its last return from there. Upside targets will be first 50.50 and then 52.47 resistance levels in the short time period.
SOLANA (SOL)
SOL is priced at $178.52 with a 1.23% depreciation as of morning hours. When we examine the four-hour chart, we see that Solana started to rise after the reaction it received from just under $ 170, and although it rose to $ 185, it could not remain here. This was the reason why positive pricing ended in Solana, which had problems on the network. We can say that we can get a reaction from the 177 band in Solana for now and it will be important for it to stay above this level. We can say that the next critical levels in the downward movement will be 167 and then 160 dollars, and in the upward movement, the 192 and 200 dollar regions may be sellers.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $17,994 with a 0.64% loss in value. The ongoing weak pricing in Link caused yesterday’s rise to $19 not to be permanent and the price to fall below $18 again. We can say that the critical level for LINK will be 17.40 and then 16.55 in retreats, and 18.45, 18.72 and then 19.30 in upward movements will be important resistance levels.
