CFTC Forms Partnerships to Fight Crypto Scams
The CFTC has partnered with organizations like the American Bankers Association Foundation and the SEC to raise awareness of crypto investment scams called “pig butchering.” These scams occur when scammers build trust with their victims and lure them into fake crypto investments. The initiative aims to prevent billions of dollars in losses caused by these types of scams by educating the public.
Uniswap Market Share Declines as DEX Competition Takes Over
Uniswap’s dominance in the decentralized exchange (DEX) space has fallen from 50% to 36%, and new platforms like Aerodrome and Orca are starting to gain market share. Increased competition is driving innovation by offering more user-friendly features and lower fees. The DEX ecosystem is becoming more diverse and resilient, providing better options for users.
Bitcoin Hash Rate Reaches New High Despite Price Drop
Bitcoin network security has reached an all-time high despite falling prices, and miners’ revenues have fallen due to the reduction in block rewards. Despite this, miners continue to expand their operations with confidence in Bitcoin for the long term. On-chain data suggests that miners are pursuing a strategy of holding Bitcoin despite price declines.
EU Stablecoin Standards to Come into Force in 2024
The European Banking Authority (EBA) will finalize technical standards for stablecoins under the MiCA regulation by the end of 2024. These standards will cover important issues such as authorization, stress testing, and volume estimation, ensuring that stablecoin issuers in the EU operate under strict supervision. Once all regulations are in place, stablecoin issuers will be able to operate across the EU with a single license.
Sony Steps Into Blockchain with Soneium Blockchain Testnet
Sony has launched the Soneium blockchain testnet, which integrates Web3 technologies into everyday life. Early adopters can participate in the testnet and be eligible for potential airdrops in the future. The success of this testnet will be supported by partnerships with platforms such as Chainlink and Optimism, allowing Sony to become a strong player in the decentralized technology space.
Ethereum Whales Control 43% of Total Supply After Shanghai Upgrade
Ethereum whales have increased their holdings after the Shanghai upgrade, holding 43% of the total supply. This increase shows the confidence of large investors in the future of Ethereum, but also raises concerns about centralization. The concentration of a large portion of the supply in a small number of investors can affect market stability and price dynamics.
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BITCOIN (BTC)
BTC is priced at $58,000 with a 1.27% increase in value as of the morning hours. A drop to $52,555 was made, but it could not be permanent. An increase to $58,500 was made again yesterday evening. If it can be permanent above $56,500, a rise to $60,0000 can be seen again. If $55,555 is broken downward, a pullback to $50,000 may occur.
ETHEREUM (ETH)
ETH is priced at $2367 with a 1.14% increase in value as of the morning hours. A drop to $2155 occurred and could not be sustained at this level. An increase to $2390 occurred last night. If $2380 is broken upwards, prices above $2550 may be seen again. If the $2150 level is lost, a pullback to $2000 will occur.
RIPPLE (XRP)
XRP is priced at $0.5372 with a 0.45% gain as of the morning hours. $0.55 was lost. A pullback to $0.5035 occurred. In pullbacks, a pullback to $0.48 may now occur. If pricing above $0.55 continues, increases to $0.60 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $23.55 with a 1.20% increase in value as of the morning hours. There is a price above $23 again. It rose to $24.60 with the reaction it received from the $20 region. If the rise continues, $25 seems to be the most likely location to receive the first reaction. In pullbacks, 22.82 and 21.88 are strong support.
SOLANA (SOL)
SOL is priced at $134.88 with a 1.89% increase in value as of the morning hours. There was another pullback from $162 to the $127 area. It reacted from this level and rose to $139, but it could not be permanent. If the pullback continues, the $115 area looks strong. In the upward movement, $138 seems to be the resistance area.
OUNCE GOLD
The ounce of gold is priced at $2518.42 with a 0.27% increase in value as of the morning hours. After the ATH was renewed, prices below $2500 were seen but it was quickly regained. The first resistance zone of $2505 was broken upwards and the movement continued. ATH can be renewed with the data. The range of $2505 and $2500 seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $28.81 with a 0.47% increase in value as of the morning hours. The downward trend continues in the short term. $27.40 is a region that is likely to work as support. $28.40 was our first resistance level and was broken upwards. The next resistance region appears to be the 29 region.
