Polygon Announces Grant Program Distributing 35 Million MATIC
Polygon community treasury announced that 1 billion POL tokens will be released in a 10-year plan to support blockchain development. Approximately 100 million POLs will be available each year. As of Tuesday, developers ‘1. Will be able to apply for ‘season’ grants. This season, 35 million MATIC (approximately $22 million) will be allocated to projects on Polygon. The application deadline is August 31, 2024, and grants will range from 5,000 to 50,000 MATIC. POL will eventually replace MATIC as Polygon’s native token.
Bitcoin Open Interest Remains High
While Bitcoin open interest exceeds 1.5 billion dollars, the price decline continues. This situation was considered alarming by some analysts. Analysts pointed out that it was a high-risk situation. Bitcoin’s price fell approximately 3.2% to $67,180 on Tuesday morning.
Mark Cuban Stated that Cryptocurrencies Will Play an Important Role in the US Presidential Election
Billionaire entrepreneur Mark Cuban emphasized the important role cryptocurrencies will play in the upcoming US presidential race, specifically drawing attention to President Joe Biden’s loyalty to Securities and Exchange Commission (SEC) Chairman Gary Gensler. However, Cuban stated that he believes the stance on cryptocurrencies could be a key differentiator between the two candidates in the November 2024 presidential elections.
XRPL Fund in Asia from Ripple
Ripple announced it has created a major fund to boost blockchain innovation in Japan and South Korea. This new initiative, called the XRPL Japan and Korea Fund, underscores Ripple’s commitment to increasing its influence in the Asia-Pacific region. The new fund will support a variety of projects including corporate partnerships, developer grants, startup investments and community development.
ASI Merger Postponed to July 15
The merger of FET, AGIX and OCEAN under ASI has been postponed until July 15. Projects said the delay was due to the need to meet the technical requirements of ecosystem partners. Until the new merger date, FET, AGIX and OCEAN will continue to be traded individually.
Support for Bitcoin Mining from Donald Trump
Donald Trump said on Tuesday that he wants all remaining Bitcoins to be produced in the USA. The former President vowed to defend Bitcoin mining at the White House during a meeting with several Bitcoin miners.
CBOE and FTSE Russell Partnership for Digital Asset Derivatives
Cboe Global Markets has signed an agreement with FTSE Russell to advance the development of digital asset derivatives. This partnership will focus on the creation of new products with cash-settled index options for Bitcoin and Ethereum. Together, the two firms will seek to meet investors’ growing demand for crypto derivatives by providing a transparent trading environment to manage crypto risks.
Ripple Labs Completes the Acquisition of Standard Custody
Ripple Labs has completed its acquisition of digital asset custodian Standard Custody. This acquisition will be important for the planned launch of a USD-backed stablecoin and its broader goals in real-world asset tokenization. As part of the acquisition, Standard Custody CEO Jack McDonald will assume the role of Ripple’s senior vice president of stablecoins.
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BITCOIN (BTC)
BTC is priced at $67,240 with a 0.14% loss of value as of the morning hours. The horizontal channel between $72,760 and $60,800 is still maintained. Yesterday, there was a drop to $ 66,000, but it has not been permanent for now. If the pullback continues, $64,700 appears as the first major support. As resistance, $68,700 is currently working. Closings above $70,000 are required to continue the rise.
ETHEREUM (ETH)
ETH is priced at $3510 with a 0.33% gain in value as of the morning hours. Yesterday, the $3435 level worked as support. For the continuation of the rise, it is important to maintain stability above $ 3600. If persistence is achieved, an increase up to $4000 may be seen. If a pullback occurs, the first support is likely to be $3150.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.4808 with a 0.15% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.45 level, but it could not be permanent. $0.50 is a critical level and this level must be regained. Initial support again appears to be the $0.48 to $0.45 range. Areas where there may be resistance include the $0.50 and $0.52 levels.
AVALANCHE (AVAX)
AVAX is priced at $31.80 with a 0.76% gain in value as of the morning hours. After the horizontal area was broken down, we saw a movement up to the $ 30.60 level, but it started to rise after receiving a reaction from this region. In case of withdrawals, the $30 and $29 zones can be followed as support. The middle region of the horizontal band needs to be regained. In upward movements, if there is persistence above the 36 dollar level, the 40 dollar region can be targeted.
SOLANA (SOL)
SOL is priced at $150.54 with a 0.82% gain in value as of the morning hours. When we examine the four-hour chart, we see that there is some upward reaction from the $150 level, which we follow as the support zone. If this movement continues, the $155 level can be followed as resistance. In case of withdrawals, the $150 level appears as an important region.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $15,234 with a 1.63% gain in value. When we examine the daily chart, we see that the $ 15,500 level, which we follow as the support zone, has been broken downwards. If the pullback continues, a move towards the $14,500 region may be possible. If upward movements persist above the $15,500 level, the $16 level can be tested.
RNDR
RNDR is priced at $8.3555 with a 1.96% gain in value as of the morning hours. When we examine the hourly chart, we see that a double bottom formation has formed. If the $8.40 resistance level is broken upwards, the $8.60 level can be tested. In case of withdrawals, the $ 8.25 level appears as support.
COMP
COMP is priced at $52.54 with a 0.83% gain in value as of the morning hours. When we examine the hourly chart, we see that the $53 level is broken downwards. If upward movements persist above this region, the $54.50 level can be tested. In case of withdrawals, the $52 level can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at $2313.60 with a 0.13% loss in value. There was a decline from $2390 to $2290. The $2290 level is acting as support. The $2307 resistance level was broken upwards. If pricing is seen above 2320, a rise may occur again up to $2390. For a short-term rise, pricing above $2300 should be maintained.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.38 with a 0.35% gain in value. When we examine the four-hour chart, we see that the $29 level, which we follow as the support zone, has been tested. If it persists above this region, the $29.50 level can be tested. In downward movements, the $ 28.70 level can be followed as support.
