Trump’s Chances of Winning the 2024 Election Are 16% Ahead of Harris’s in Polymarket
Former US President Donald Trump’s odds of winning the 2024 presidential election have risen to 57.9% on Polymarket, giving him a 16% lead over Kamala Harris. The volume of bets on Polymarket on who will win the election has exceeded $1.92 billion. While Trump appears to be ahead on Polymarket, FiveThirtyEight’s traditional national polls show Harris ahead 48.5% to 46.1%, though some analysts argue that the polls often underestimate Trump. Trump’s DeFi protocol, World Liberty Financial, also sold 610 million tokens on the day the public sale began.
Tesla Moves Remaining $770 Million Bitcoin Assets to New Addresses
Elon Musk-led Tesla has moved its remaining 11,509 Bitcoins worth around $770 million to new addresses, suggesting the company is preparing to sell more assets. This is Tesla’s first interaction with wallets after selling most of its Bitcoin holdings in 2022. The company invested $1.5 billion in Bitcoin in 2021 and currently holds a maximum of 9,720 BTC. Tesla is the third-largest Bitcoin holder among public companies, behind MicroStrategy and MARA. While the reason for these recent Bitcoin movements is unclear, it is thought to be a sell-off.
BlackRock CEO Larry Fink Says Bitcoin Is an Asset Class Comparable to Gold
BlackRock CEO Larry Fink has highlighted Bitcoin’s potential as an alternative investment, touting it as an asset class comparable to gold. In an earnings call, Fink said better data and analytics will help Bitcoin gain wider acceptance, and stressed that liquidity and transparency are more important than regulation for the success of digital assets. Fink also highlighted the digitization of national currencies, citing India and Brazil as examples. The comments come amid strong inflows into spot Bitcoin ETFs, including a $79.5 million investment in BlackRock’s IBIT ETF.
Ripple Announces Exchange Partners for Its Own Stablecoin, RLUS
Ripple has announced exchange and market maker partners for its upcoming launch of its dollar-denominated stablecoin, Ripple USD (RLUSD). Regulatory approval is pending from the New York Department of Financial Services. Partners include exchanges like Bitstamp, Bitso, and Uphold, while B2C2 and Keyrock will provide liquidity. Ripple CEO Brad Garlinghouse highlighted RLUSD’s potential to improve cross-border payments. Ripple also appointed former FDIC Chair Sheila Bair and former Center CEO David Puth to its advisory board to guide the stablecoin’s launch. RLUSD is fully backed by US dollar deposits and government bonds, and is currently being tested on the XRP Ledger and Ethereum networks.
Bitcoin Usage in El Salvador Is Low: Only 7.5% Users
According to a survey by Francisco Gavidia University, only 7.5% of El Salvadorans use Bitcoin for transactions, despite it being legal tender in 2021 by President Nayib Bukele. While Bukele’s efforts to improve the country’s security situation have been widely praised, his Bitcoin policy has not been widely embraced, with 92% of respondents admitting they do not use Bitcoin. Additionally, only 1.3% of those surveyed believe Bitcoin should be the country’s main focus in the future. Despite criticism from international groups, Bukele’s leadership is generally supported, with 58% of those surveyed saying the country is moving in the right direction.
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BITCOIN (BTC)
As of this morning, BTC is trading at $67,250, up 0.25%. The price recently broke through the key resistance area at $66,000 and is now approaching the next key resistance area between $68,000 and $68,500. The price has formed a strong support level at $62,360, which is important for any potential pullbacks. If BTC breaks below this level, it could trigger a move towards the support area around $61,000 or even lower towards $59,500. Overall, BTC’s future direction hinges on its ability to stay above the $66,000 level and clear the $68,000 resistance. A stay above this level could signal a strong bullish trend, while a close below $62,360 could indicate a potential bearish reversal.
ETHEREUM (ETH)
ETH is priced at $2620 with a 0.52% gain as of the morning hours. The price is testing the important resistance area at 2,575. This level has been a strong barrier in previous price movements and if it is broken, the price can be expected to rise to the 2,650-2,750 range. Below, there is solid support at 2,461.59. This support can offer buying opportunities in the downward movements of the price. If ETH falls below this support, a pullback to 2,338.99 is possible. Below this level, there is another support point around 2,325. In general, the direction of ETH will depend on the 2,575 resistance being overcome and the 2,461.59 support being maintained. If the price can break out of the 2,575 resistance, bullish momentum may develop. However, if the support level is lost, deeper corrections may be seen. Monitoring these major levels will be critical to understanding ETH’s future price movements.
RIPPLE (XRP)
As of this morning, XRP is priced at $0.5428 with a 0.18% gain. The price is fluctuating around the important resistance area at 0.5500. This level has been a significant hurdle in previous price movements and it is thought that the price could rise towards the 0.5600 and 0.5800 levels if it is broken. Below, XRP is seen to have formed a solid support at 0.5300. This support level may offer buying opportunities in the downward movements of the price. If XRP breaks below this support, a pullback to 0.5100 is possible. In general, XRP’s direction will depend on breaking the 0.5500 resistance and maintaining the 0.5300 support. If the price can break through the 0.5500 resistance, the bullish trend may strengthen further.
AVALANCHE (AVAX)
AVAX is trading at $27.71, down 1.75% as of this morning. The price is currently trading below a key resistance area around 28.00. Below, there is a strong support area at 27.00. If AVAX loses this support level, a pullback to 26.00 is possible. There is also another support area at 25.00. This level could offer buying opportunities on further declines. Overall, AVAX’s direction will depend on the 28.00 resistance level being broken and the 27.00 support being maintained. If the price can break above 28.00, this could strengthen the bullish trend. However, if the price closes below 27.00 support, deeper corrections could be observed. Watching these key levels will be critical to understanding AVAX’s future price movements.
SOLANA (SOL)
SOL is priced at $154.06, down 0.41% as of the morning hours. The price is fluctuating around the important resistance area between 150.00 and 158.00. This area has been a strong resistance point in the past and if it is broken, the price can be expected to rise to levels above 160.00. Below, there is a strong support area for SOL between 144.00 and 146.00. This support area can offer buying opportunities in possible declines. If SOL falls below 144.00, a pullback to 140.00 may occur. In general, the direction of SOL will depend on breaking the resistance area between 150.00 and 158.00 and maintaining the 144.00 support. If the price can break through this resistance, the bullish trend may strengthen. However, if the support level is lost, deeper corrections may be observed.
