DTCC Completes Pilot Project to Accelerate Fund Tokenization with Chainlink
The Depository Trust and Clearing Corporation (DTCC) has completed a pilot project with Chainlink and multiple US financial institutions aimed at helping accelerate the tokenization of funds, according to a report published by DTCC on Thursday. The goal of the project, called Smart NAV, is to create a standardized process for disseminating funds’ net asset value (NAV) data across nearly any private or public blockchain using Chainlink’s interoperability protocol CCIP. Market participants include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and US Bank.
Plan to Launch Spot Bitcoin Transactions from CME Group
According to the Financial Times, based on sources familiar with the matter, Chicago Mercantile Exchange (CME) Group plans to launch Bitcoin spot transactions in addition to its existing futures product. If launched as planned, CME would become another channel for Wall Street players to gain greater access to digital assets, in addition to the 11 spot Bitcoin ETFs approved in the US in January.
Interactive Brokers Launches Crypto Trading for UK Clients
After becoming the first SFC licensed securities broker approved to allow retail clients to trade cryptocurrencies in Hong Kong, Interactive Brokers Group has now launched crypto trading in the UK. Interactive Brokers (UK) Limited’s retail and institutional investor clients will now be able to buy and sell crypto assets such as Bitcoin, Ethereum, Litecoin and Bitcoin Cash from one unified platform.
Data Sharing Agreement Between Reddit and OpenAI
Social media company Reddit rose 11% in after-market trading after it struck a data-sharing deal with OpenAI, creator of artificial intelligence chatbot ChatGPT. Reddit said in a May 16 statement that it will give OpenAI access to its Data API, which provides real-time content from posts made on the platform, and will “bring Reddit content to ChatGPT and new products.”
Cardano Whales Increased Their Assets With Price Increase
Over the past month, Cardano whales holding between 100 million and 1 billion ADA increased their holdings by 11%. Despite the overall sluggish performance in the cryptocurrency market, these large investors are slowly accumulating ADA tokens. These major investors currently control 6.71% of the total ADA supply. This indicates significant impacts and increased trust or strategic positioning in the Cardano ecosystem.
Tornado Cash Developer Appeals Conviction Verdict
Tornado Cash developer Alexey Pertsev has appealed his money laundering conviction in the Netherlands. The s-Hertogenbosch Court of Appeal confirmed the appeal but it has not yet been approved and it may take several months for the hearing to take place.
Bitcoin Options Traders Expect a Correction in Price
Despite the CPI inflation report from the US, investors are still willing to pay a premium to protect against short-term declines. CME Bitcoin futures options analysis showed that although Bitcoin rose above the $66,000 level following the inflation report, the implied volatility of OTM put options was higher than call options. This shows that derivative investors are taking precautions against the possibility of Bitcoin losing value and that there is an expectation of a decline in the market in the short term.
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BITCOIN (BTC)
BTC is priced at $165,700 with a 0.67% gain in value as of the morning hours. After the retest below the horizontal band, the middle part of the horizontal band, that is, the $66,500 level, was tested. For now, it seems like it has been rejected from this region. In case of a pullback, the first support appears strong at $65,000, followed by $63,500. In case of an upward break, a movement up to $72,500 may be seen.
ETHEREUM (ETH)
ETH is priced at $2944 with a 0.01% loss of value as of the morning hours. After being rejected in the middle part of the horizontal band, the lower level, that is, the $ 2920 level, was tested again. It reacted again from this region and rose above $3000. The first support appears to be $2935. The resistance level appears to be $ 3000.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5157 with a 0.01% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be permanent. $0.50 is a critical level and this level has been regained. Initial support again appears to be the range between $0.50 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.
AVALANCHE (AVAX)
AVAX is priced at $34.93 with a 1.36% gain in value as of the morning hours. There is a horizontal line between $40 and $31. If a breakout of $39 occurs and persistence is achieved, a rise to $45 can be seen. The $34 level was broken upwards. Therefore, the next resistance zone appears to be $36, then $40. In case of a pullback, $33.50 is a strong support area.
SOLANA (SOL)
SOL is priced at $162.78 with a 2.14% gain in value as of the morning hours. When we examine the daily chart, we see that both the falling trend line and the horizontal resistance area have been broken upwards with the upward movement. If this movement continues, a move towards the $170 region may be possible. In case of withdrawals, the $160 region can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $15,686 with a 1.09% gain in value. When we examine the four-hour chart, we see that there is a horizontal movement between the $ 12,500 and $ 16 levels. With the upward movement seen yesterday, the $16 resistance level was tested. In case of persistence above this region, the level of $ 16,500 can be targeted. In case of withdrawals, the $15 level can be followed as support.
ENJ
ENJ is priced at $0.3032 with a 1.27% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $0.30 resistance level has been broken upwards. At the same time, we can evaluate this movement as a ‘reverse head-and-shoulder (TOBO)’ formation. If this movement continues upwards, the $0.31 level can be followed. In case of withdrawals, the broken resistance area of $0.30 appears as support.
NEAR
NEAR is priced at $8,118 with a 1.12% gain in value as of the morning hours. When we examined the daily chart, we saw that there was a strong movement with an upward break of the resistance zone of $ 7.50. If the upward movement continues, the $8.25 – $8.50 region appears as resistance. In case of withdrawals, the $8 level can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2382 dollars with a 0.24% gain in value. When we examine the four-hour chart, we see that there is no persistence above the $ 2400 level. After determining $2308 as a strong support, it rose again to $2400. If there is persistence above $2400, a new ATH level can be seen. In case of a withdrawal, $2375 seems to be the first support.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.67 with a 0.27% gain in value. Examining the four-hour chart, we see that the $29.80 level is an important resistance area. Currently, there is a consolidation movement below this resistance movement. If the resistance zone is broken, the $30 level can be tested. In case of a withdrawal, the levels of 29.20 and 29 dollars can be followed as support.
