Significant Increase in Locked Asset Value in Solana Liquid Stake Protocols
Solana, which is known to have experienced major problems with the FTX era, has experienced significant developments in on-chain data as of the beginning of the year. Solana’s locked asset value in liquid staking protocols increased by 91% in the first half of the year. (such as Marinade Finance, Lido, Jito, JPool, and Socean) These protocols include $187 million worth of Solana, representing a 91% increase from the year-to-date level of $98 million.
Shiba Inu 2. Significant Increase in the Number of Addresses in the Quarter
SHIB, one of the most popular meme projects, has grown significantly in recent months. 2. In the quarter, the daily level of 4,000 was reached on June 27, up 357% from 877 on May 21. It is also known that the Shibarium project continues to grow and has passed important milestones. Finally, we see that it has surpassed 25.5 million in the total number of transactions and realized transactions at a daily level of 270,000.
Ethereum Community Seeks New Way to Mitigate DeFi Hacks
ERC 7265 is being evaluated by the Ethereum community to prevent DeFi attacks on Ethereum. ERC 7265 will include a circuit breaker implementation to prevent complete offloading of DeFi protocols. It is known that the assets stolen by DeFi are close to 3 billion dollars.
Rise in Crypto Markets Did Not Affect Stablecoin Supply
Stablecoin supply continued to fall during the bullish period in crypto assets. However, Fitch stated that stablecoin producers improved their liquidity levels during this period. With the rally seen since the beginning of the year, volume in stablecoins dropped from $ 138 billion to $ 124 billion. We see that Tether increased its supply in this process, but the problems experienced especially in USDC and BUSD had a significant impact on the supply decline.
New Crypto Asset Law in the United Kingdom to be Implemented in October
In the UK, the FCA (Financial Conduct Authority) made statements regarding the new practices they announced that they will implement on October 8. Crypto asset companies have identified different ways to promote crypto assets to consumers. These include communication with an authorized person, a person who is not authorized but has received approval from an authorized person, and communication with a firm registered under the FCA Money Laundering Regulation. The FCA also warned in its letter that those found in breach will be imprisoned for up to 2 years. With this system, crypto companies will have to use specific risk warnings and promote themselves in a way that is clear, fair and not misleading.
BITCOIN(BTC)
Bitcoin is priced at $ 30,847 with a 0.26% gain in value as of today morning hours. We see a stable pricing in Bitcoin during this period when US markets are closed and developments are diluted. Bitcoin, which managed to rise above 31,000 with the news on Monday evening, retreated to the 30,800 region with small sales movements yesterday. We can say that the channel movement in Bitcoin came to the range of 29,800-31,400 and 30,600, which we saw returning at night, also works as a channel mid-band.
ETHEREUM(ETH)
ETH, which gained 0.09% as of morning hours, is priced at $ 1936. In Ethereum, we are seeing a re-test move after the upside breakout of the 1850-1930 move. While the growing selling pressure during the night hours pushed the price to 1930 support, we see that it is rising with a reaction from here for now. If Ethereum remains solid above this level, the $ 2000 and then $ 2040 regions will be the new target levels.
AVALANCHE(AVAX)
AVAX, which gained 0.39% as of morning hours, is priced at $ 13.09. We see that the long-standing inactive pricing in AVAX continued and retreated from the 13.50 region to $ 13 levels with the market. In AVAX, 12.80 and then 12.10 regions are support zones, but 13.50 region can be targeted again in the returns it can realize to these levels.
