SEC Approves First Leveraged Bitcoin Futures ETF
The Volatility Shares 2x Bitcoin Strategy ETF (BITX), a leveraged Bitcoin futures ETF, has been approved by the SEC. The ETF will be launched on CBOE on Tuesday, June 27th. According to the SEC announcement, BITX targets investment results corresponding to twice (2x) the CME Bitcoin Futures Daily Roll Index.
JPMorgan Activates Blockchain Payments with Euro
JPMorgan, as it is known, has launched payment services with blockchain in recent years. Last week, the giant announced that it has expanded its JPM Coin blockchain payment service to include euro-denominated transactions for corporate clients. The platform was launched in 2019 for dollar payments, enabling customers to transfer dollars and euros between JPMorgan accounts anywhere in the world for wholesale payments or to use blockchain as a payment method.
New Record Number of Ethereum Staked
Ethereum has crossed a new milestone. The number of Ethereum staked passed the 20 million milestone, reaching 23.5 million Ethereum. Thus, the total value of staked Ethereum reached 38 billion dollars. In November 2021, when Ethereum reached ATH levels of $4400, only 8.2 million ETH was staked in total. The expected rise in Ethereum staking after the merge was mostly seen after Shapella introduced the option to exit staking.
SAP Tests Use of USDC
Germany-based software company SAP is testing the use of USDC for its international customers who have difficulty making payments. As a company that develops the software used by corporations to control business operations and customer communications, SAP, as a company with customers in almost every country in the world, it was considered important to turn to stablecoins for cross-border payment problems.
Is Ripple Planning 10 Billion XRP Buyback?
Last week, it was stated that Ripple was planning to buy back 10 billion XRP. Although this news was not reflected in price movements, it caused quite a stir in the communities and social media. A user on Twitter quoted this news and tagged Ripple CTO David Schwartz, asking, “Is this news true?” David Schwartz said, “We sometimes make XRP purchases. But I don’t know how accurate this news is. There is no mention of an official source.”
Weekend Activity at DeFi
With the rise on Friday, we saw Bitcoin rise to 31,000 levels. In this process, altcoins also experienced great price volatility. Especially on the DeFi side, we saw a positive divergence compared to the market. On the DeFi side, AAVE and COMP rose 30%, UNI 15%, CRV 10% on Saturday.
BITCOIN (BTC)
Bitcoin is priced at $ 30,222 with a 0.81% loss in value as of today morning hours. Looking at the hourly chart in Bitcoin, we see that the 31,000 level could not be broken again and despite the positive news flow on Friday, it returned to 30,000 levels due to selling pressure without staying above it. While the short-term support zone in Bitcoin seems to be the 29,700-30,000 range, we see that the 30,800-31,050 zone is working as a strong resistance zone, and although it was above it on Friday, it went back below it. This week, on the US side, Core Goods Sales, New Home Sales and CB Customer Satisfaction on Tuesday, FED Chair Powell and ECB President Lagarde’s speeches on Wednesday, US GDP and Unexpected Home Sales on Thursday, European inflation on Friday, followed by US PCE Price Index and Personal Spending data on Friday are the key data that may affect prices.
ETHEREUM(ETH)
ETH, which lost 0.77% as of morning hours, is priced at $ 1877. Looking at the hourly chart in Ethereum, we see that the 1930 level has not been broken and has formed a horizontal channel movement in the range of 1865-1930 and the boundaries of this movement are quite clear. In Ethereum, we can say that for now, after the test of the channel support, there may be the beginning of a return after the test of the channel support, the 1870 level may be a good entry zone for the channel movement of gold, and for profit-taking, first 1900 and then 1930 can be targeted.
AVALANCHE(AVAX)
AVAX, which lost 0.97% as of morning hours, is priced at $ 13.32. AVAX started to perform an ascending channel movement after the upside breakout of the $12 zone. AVAX, which tested the resistance level three times but failed to break it, has not yet fallen below 13.20, although it retreated towards the lower band of the channel. We can say that the $ 13 level can be expected for entry in AVAX, the 13.40-45 zone works as a channel mid-band, and in case of an upward breakout, the primary target will be the 13.80 horizontal resistance zone.
