Tether Explores Opportunities in Commodity Trading and Traditional Finance
Tether CEO Paolo Ardoino announced plans for the company to expand beyond just issuing stablecoins into commodity trading and traditional finance (TradFi). Tether aims to increase investments in the energy sector and physical assets, creating a broader portfolio and thus strengthening its financial flexibility. In addition, Tether’s move shows that the boundaries between the world of traditional finance and the world of digital assets are increasingly blurring. Ardoino stated that this new strategy will make Tether a more robust and diversified financial structure.
Bitcoin Futures Funding Rate Reaches Monthly Peak
Funding rates in Bitcoin futures markets have risen to a peak not seen in several months. Funding rates indicate how much traders pay to hold long positions, and rising rates indicate strong bullish expectations from market players. This increase coincides with Bitcoin’s recent price rally, which has seen increased interest, particularly from institutional investors. This is interpreted as an indication that the market is prepared for a possible price increase in Bitcoin.
Kamala Harris Supports Crypto Regulatory Framework
US Vice President Kamala Harris has announced her support for a regulatory framework for cryptocurrencies. This statement is part of a broader economic plan to specifically support black men. Harris highlighted the potential of cryptocurrencies to create financial inclusion, while arguing that regulation is necessary in this space. She emphasized the importance of creating a regulatory framework that aims to protect investors and users while encouraging innovation in the crypto ecosystem. This plan aims to create new opportunities, especially for marginalized communities.
First ETF Holding ETH Launched in Australia
Australia has launched its first exchange-traded fund (ETF) that directly holds ETH. The ETF offers investors the opportunity to invest in ETH through a regulated vehicle without direct exposure to the Ethereum network. This development reflects Australia’s increasing regulatory adoption of crypto assets and institutional access to digital assets. The launch of the ETF is seen as another sign that crypto assets are gaining acceptance in the traditional financial world. Investors also do not have to deal with technical details such as a crypto wallet when investing in ETH.
Trump’s Crypto Project Gets 100K Signups Ahead of Token Sale
A crypto project linked to former US President Donald Trump has attracted a lot of attention ahead of the token sale, with 100,000 people signing up for the project. Trump’s political career and brand have increased interest in the project. Although not many details have been given about the project yet, the Trump name keeps the interest alive. This project shows that the relationship between cryptocurrencies and politics is becoming increasingly complex, and how political figures can influence the crypto world.
Samara Asset Group to Issue $32.8 Million in Bonds to Expand Bitcoin Holdings
Samara Asset Group, a digital asset-focused investment firm, plans to issue bonds worth up to $32.8 million in order to increase its Bitcoin holdings. The bonds will provide institutional investors with a fixed return while also providing an indirect investment opportunity in Bitcoin. Samara’s move shows that Bitcoin is increasingly accepted as a reliable investment vehicle among institutional investors. This move is also interpreted as a sign that digital assets are increasingly taking hold in the financial world.
Ripple CEO Criticizes SEC Over XRP Decision
Ripple CEO Brad Garlinghouse criticized the US Securities and Exchange Commission (SEC) for ignoring a court ruling that XRP is not a security. Garlinghouse called the SEC’s disregard for the ruling an overreach by the regulator. Ripple’s long-running legal battle with the SEC is considered a turning point in terms of cryptocurrency regulation in the US. Ripple emphasizes that the outcome of this case will be important not only for its own future, but for the entire crypto industry, and is calling for clearer regulatory frameworks.
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BITCOIN (BTC)
As of this morning, BTC is trading at $63,930, up 1.70%. The price recently broke through the strong resistance at $64,605 and is now heading towards the next key resistance at $66,000. This level is critical and if BTC manages to stay above this level, it could trigger more upward moves towards the $67,000 range. The price had previously fluctuated within a narrow range and found solid support at $62,360. If it closes below this support, the price is likely to drop to the $61,000 level or below. The direction for BTC is currently dependent on gaining momentum above the $64,605 resistance and breaking the $66,000 level. If the price breaks below $62,360, it could indicate a potential reversal or correction phase.
ETHEREUM (ETH)
As of this morning, ETH is trading at $2,526.48, up 2.32%. The price has recently shown a strong upward move and is approaching the important resistance area between $2,650 and $2,750. It is currently held above the main support level at $2,461.59, which could offer buying opportunities if the price continues to face downside pressure. If the price breaks below this support level, the next support is at $2,338.99. If these support levels are broken, ETH is likely to pull back further towards $2,300. The overall direction for ETH depends on breaking the resistance area above $2,650 and holding the $2,461.59 support level.
RIPPLE (XRP)
As of this morning, XRP is trading at $0.5368, up 0.90%. The price is currently fluctuating around the resistance area between $0.5500 and $0.5600. This range has been a significant hurdle in the past, and a break above this level could send the price rallying towards the next resistance area around $0.5800. Below, the price has formed a strong support area between $0.5200 and $0.5300. If XRP fails to stay above this support level, a decline towards $0.50 is possible, which could signal a bearish trend. In general, XRP’s direction depends on whether it can break the $0.5500-$0.5600 resistance area.
AVALANCHE (AVAX)
AVAX is trading at $29.43, up 1.27% as of this morning. The price is currently fluctuating around a key resistance area between 28.50 and 29.50. If AVAX can break out of this range, there could be more upside momentum towards the next resistance level around 30.00. As indicated in the chart below, if AVAX fails to stay above this resistance area and drops below 28.00, this could trigger a pullback towards the support area around 26.00. The direction of AVAX will depend on whether it can stay above the 28.50 – 29.50 resistance area.
SOLANA (SOL)
SOL is trading at $151.50, up 2.52% as of this morning. The price is currently testing the resistance area between 156 and 158. This range has been a critical area in previous trading sessions and if SOL manages to stay above this level, there could be more upside movement towards the next resistance level around 163.70. SOL has a strong support area between 144 and 146. This support area has held up well in the past declines and could offer buying opportunities if the price pulls back. If SOL closes below this support area, it could face further declines towards the $132 level. Overall, SOL’s direction will depend on whether it can hold its current support levels and break the resistance area between 156 and 158.
