Important Statement from JPMorgan After ETF Applications
Nikolaso Panigirtzoglou, one of the managing directors at JPMorgan, made important statements about the evaluation process that the market focused on after ETF applications. He stated that the approval of ETF applications may not have a big impact for the crypto market, it may only benefit Bitcoin. Panigirtzoglou also stated that ETFs will have an impact just like in Canada and Europe, and that they have seen reports that these ETFs only affect small investors. He also added that they could not attract investors fleeing from gold ETFs to Bitcoin funds.
Whitepaper and New Projects Announced at SXP
Following the closure of the Swap Portal at Solar Network last week, the highly anticipated announcements were made on Solar Network social media accounts on Friday evening. First of all, Solar’s new Whitepaper has been published and will be continuously updated. In other developments, Solar Virtual Machine announced that they have created a system that allows them to benefit from all the possibilities provided by Ethereum without being dependent on Ethereum updates. The most anticipated project, Solar Card, will be released on the 3rd of the year. A quarter was targeted. The rollout will be phased, with plans to expand to Europe, the US, Asia and then everywhere in between.
Bitcoin Ordinals Are About to Overtake Ethereum NFTs
Ordinals, known as Bitcoin’s NFTs, saw a huge surge in the number of active sales and buyers. Ordinals, which grew 129.50% in dollar sales, has also attracted 10% of the buyer market. While Ethereum still leads the NFT market, the rise of Ordinals suggests that it may soon overtake Ethereum NFTs. After Ethereum and Bitcoin NFTs, Solana ranks third, while Polygon ranks 4th behind Solana. is next. At the same time, other data shared last week showed that Ordinals reached a volume level of $ 210 million in the first half of 2023 and increased by 2834% after the volume of $ 7.18 million in the first quarter of the year. 210 million dollars in the quarter.
Google Cloud Expands Bitcoin Services
With a $225 billion valuation, Google Cloud, one of the world’s largest cloud and data services providers, has become one of the companies that has increased its interest in Bitcoin. Bitcoin aims to expand its Bitcoin-centric services by collaborating with Voltage, a company working on the Bitcoin Lightning Network infrastructure. This will enable Voltage to leverage Google Cloud to serve its customers on a global scale.
Date Announced for Shibarium
Shiba Inu’s Layer-2 solution project Shibarium is scheduled to launch in August. Shibarium, which launched in beta in March, continues to grow and benefit on-chain data. On the Shiba side, the launch of Shibarium is expected to result in reduced gas fees, improved scaling and efficiencies for user interactions.
BITCOIN(BTC)
Bitcoin is priced at $ 30,114 with a 0.15% loss in value as of today morning hours. In Bitcoin, we see that the accumulation process that took place after the rise above 30,000 levels continues and the price is well stuck in the 29,900-30,500 region, which is the lower band of the channel movement. We can also say that with the closing of the week, there was a significant sales volume in Bitcoin, which spent the whole weekend in low volume, but this did not affect the price much. US inflation data to be released on Wednesday, PPI data to be released on Thursday and the Monthly OPEC Report may affect prices in Bitcoin, which has retreated to its current level with the data and some developments last week. While the upside target in Bitcoin is 30.600 and then the 31.400 region, we can say that in case of downward movement, the 29.800-29.900 region and 28.800 levels are the next support zones.
ETHEREUM(ETH)
ETH, which lost 0.14% as of morning hours, is priced at $ 1860. Although Ethereum has risen twice to the 1880 region after falling to 1845 levels, which is the channel lower band in Ethereum, we see that it is rapidly moving towards channel support. We can say that the number of tests to the 1845 level in Ethereum has increased considerably, and if this breaks down, 1800 and then 1770 regions may be critical.
AVALANCHE(AVAX)
AVAX is priced at $ 13.30 as of today morning hours, down 2.06%. With the positive price action seen in AVAX over the weekend, we see that the 13.50-13.80 zone was broken upwards and the price rose to 14.20. However, AVAX, which could not remain strong after the breakout, saw significant selling pressure from here and broke the 13.80 zone downwards in the re-test and retreated to 13.30. In case of a continuation of the decline in AVAX, we can say that the 12.80 level is critical and if there is no return from here, it may return to the $ 12 level again.
SOLANA(LEFT)
Solana is priced at $ 13.30 with a 2.06% loss in value as of today morning hours. We see that the 19.70 level was broken upwards after the rise from $ 15 levels in SOL and the price rose to $ 23, which was the target zone at the weekend, but then started to retreat from here, facing a selling pressure. We can say that the $ 21 level in Solana has also worked as a support zone before and we could see a turn. In case of a turnaround, we think that first 23 and then 27 levels will be critical resistance zones.
