Robinhood Prepares to Launch Bitcoin and Ethereum Futures
Robinhood is expanding its crypto offerings by confirming plans to launch Bitcoin and Ethereum futures. The move follows previous reports of CME-based futures and comes alongside the launch of its new “Robinhood Legend” desktop platform alongside advanced trading tools. Bitcoin and Ethereum Futures products will be available to users in the coming months. Robinhood continues its crypto efforts despite regulatory scrutiny and is also exploring a potential stablecoin launch. The company’s shares rose 2.8% in premarket trading following the announcement.
Worldcoin Rebranded as World Network
The Sam Altman-backed Worldcoin project has rebranded itself as World Network, or simply “World,” and launched the World Chain mainnet, a Layer-2 network on Ethereum security. Backed by platforms like Optimism, Alchemy, and Uniswap, the rebrand reflects the project’s focus on human identity verification and the “World ID” protocol. The World Network aims to distinguish real humans from AI actors online, and verifies users’ identities using biometric data (like iris scans). The project claims to have more than 10 million registrations across 160 countries, and the WLD coin is currently valued at $2.13.
Alabama Hacker Hacks SEC’s X Account, Issues Fake Bitcoin ETF Approval
Eric Council Jr., a 25-year-old Alabama man, was arrested earlier this year for hacking the SEC’s X account. Council, who is charged with identity theft and conspiracy to commit device fraud, made a false post claiming that the SEC had approved spot Bitcoin ETFs. The hack was carried out using a SIM swap method and caused a temporary spike in the price of Bitcoin. Council was paid in Bitcoin for his role and conducted online searches to see if he was under investigation by the FBI.
Tron Hits Record Q3 Revenue Thanks to SunPump Memecoin Craze
Tron’s Q3 revenue hit a record $151.2 million, largely thanks to the memecoin craze on the SunPump platform. According to the Messari report, more than 89,000 memecoins were launched on SunPump from mid-August to the end of September, and Tron’s decentralized finance operations increased by 487%. $42 million worth of tokens were burned during this period, accounting for 27% of Q3 revenue. The largest memecoin, SunDog (SUNDOG), reached a market cap of $217 million. Tron’s circulating market cap increased by 24%, and 587.6 million TRX tokens were burned, leaving it deflationary.
BlackRock’s Spot Bitcoin ETF Sees Biggest Inflow Since July
BlackRock’s iShares Bitcoin Trust (IBIT) ETF saw a massive inflow of $393.4 million on Oct. 16, the largest increase since July. On the same day, spot Bitcoin ETFs saw a total net inflow of $458.54 million. Other notable inflows include Fidelity’s FBTC and Bitwise’s BITB ETFs. Bitcoin has risen 11% in the past week to over $67,000, bringing total assets under management (AUM) of spot Bitcoin ETFs in the U.S. to $64.46 billion. Whale activity and social media discussions have also increased, creating optimism in the market despite the possibility of short-term profit taking.
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BITCOIN (BTC)
BTC is priced at $67,777 with a 0.53% gain as of the morning hours. The price is showing an increase towards the level of 67,950, and this level stands out as an important resistance point. If this resistance is overcome and a movement towards the level of 68,500 is made, the bullish trend may strengthen. Below, there are strong support areas at the levels of 67,000 and 65,900. If the price falls below these support levels, a pullback to the levels of 65,100 and 64,300 may occur. These supports may offer buying opportunities in possible declines. In general, the direction of BTC will depend on the overcoming of the resistance of 67,950 and the protection of the support of 67,000. If the price can break through the level of 67,950, higher targets may become possible. However, if the support levels are lost, deeper corrections may be observed.
ETHEREUM (ETH)
As of this morning hours, ETH is priced at $2617 with a 0.43% gain. The price remains above the important support area at 2,461.59. Below, there is a strong support area at 2,338.99, which may offer buying opportunities on possible pullbacks. In the upper region, there is a clear resistance at 2,685.00. If this level is broken, the ETH price can be expected to rally towards 2,725.00. However, if it remains below 2,685.00, possible declines may continue to 2,525.00. In general, the direction of ETH will depend on breaking the 2,685.00 resistance and maintaining the 2,461.59 support. If the price breaks the 2,685.00 USD resistance, upward movements become more likely; If the 2,461.59 support is lost, deeper corrections may be observed.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $ 0.5435 with a 0.09% loss in value. It fluctuates between the levels of 0.5500 and 0.5300. Above, the 0.5500 resistance stands out as an important turning point. If the price manages to break through this resistance, an increase towards the 0.5600 level can be expected. In this case, if the bulls are seen to take control, higher targets of 0.5700 levels may become possible. Below, the 0.5200 level stands out as a strong support area. If the 0.5300 level is broken, deeper pullbacks may occur and a drop to the 0.5200 and 0.5100 levels may be observed. Closing below 0.5200 may cause XRP to exhibit a weaker outlook. As a result, the direction of XRP will be determined depending on whether the 0.5500 resistance can be broken and the 0.5300 support can be maintained.
AVALANCHE (AVAX)
AVAX is priced at $27.48 with a 0.55% gain as of the morning hours. The price has managed to stay above the 26.37 level, which stands out as a strong support point. On the top, the 28.50 and 29.00 levels stand out as important resistance areas. If the AVAX price can exceed the 28.00 level, an increase up to 29.50 can be expected. However, if it is pressured at the 28.50 level, this level can create a strong resistance. Below, the region between 26.70 and 26.37 can act as a potential support area. If the price loses this support level, a pullback to 25.90 and lower levels may occur. In general, the direction of AVAX will be determined depending on whether the 28.50 resistance is overcome or the 26.37 support is maintained.
SOLANA (SOL)
SOL is priced at $152.67 with a 0.81% gain as of the morning hours. The price is trying to stay just above the $150.00 level. This level stands out as an important support point. If the SOL price can maintain this support, the potential for an upward move may continue. On the top, the $158.00 and $160.00 levels stand out as important resistance areas. If the price can overcome these resistance areas, an increase to $163.70 may be experienced. However, if the $150.00 support is broken, the price is likely to experience a pullback to $144.00 levels. Below, levels below $144.00 may indicate more selling pressure and pose a risk of a decline to $140.00 levels. In summary, the direction of SOL will be determined depending on whether the $150.00 support is maintained or the $158.00 resistance is overcome.
