US Inflation Rate to be Announced
In the US, CPI data will be released today at 15.30 a.m. The expectation for the last month is seen as 3.1% in inflation, which started at 9% levels and fell to 4.0% levels. We would like to say that there may be activity in the market before and after the data and a selling pressure for the same reason in the morning hours.
Ether Stake Rates Continue to Rise
Ether staking level reached 20% of all staked contracts. In total, 23.9 million ETH are locked on the Ethereum staking network. For Ethereum, which has 120 million total supply, this can be considered as almost 1 in 5 staking. Although it has not even been a year since staking was introduced, the rapid adaptation in Ethereum and the rise in staking data are considered positive. We see that the amount of stakes has gained momentum, especially after the Shapella upgrade.
Algorand’s Largest DeFi Protocol Shutting Down
AlgoFi, the largest DeFi platform on Algorand, announced yesterday on their social media accounts that they will be shutting down. The protocol contributes 50% of Algorand’s total TVL. The AlgoFi team stated that they could not take the process any further, and that they could not provide the necessary support to continue the protocol, so they decided to close down. At the same time, the protocol added that only withdrawals will be left open for the time being. The team announced that only Discord channels will be kept open and other social media accounts will be closed.
Second Largest Asset Management Company Collects Mining Shares
Vanguard, the world’s second largest asset management company, continues to pick up mining stocks. Vanguard now owns $620 million worth of mining stocks, thanks to recent acquisitions and gains in the value of mining stocks. The company announced on Monday that it increased its investments in Marathon Digital and Riot Blockchain. The company now owns 10.31% of Marathon and 10.24% of Riot.
China Continues Testing Digital Yuan Payments
China’s largest state-owned bank, Bank of China, is working on a new offline payment method with e-CNY. Bank of China is partnering with telecommunications companies China Telecom and China Unicom to test e-CNY for SIM card payments.
Singapore Investment Giant Halts Crypto Operations
Temasek, an investment giant headquartered in Singapore, has decided to halt its crypto asset operations due to uncertainties on the regulator side. Rohit Sipahimalani, CEO of the company, explained that the company may change its stance on this issue if the right regulatory practices and structure are in place. The bank aims to enable its users to download the e-CNY app and make payments with their Super SIM cards with NFC functionality.
BITCOIN(BTC)
Bitcoin is priced at $ 30,615 with a 0.05% gain in value as of today morning hours. We can say that we see a tight and volume-less movement in Bitcoin ahead of the inflation data. The inflation data, which can be considered as one of the most important data for risky assets markets at the moment, is expected to fall to 3.1%. There are analyzes that the Dollar index, which retreated towards the support zone with the effect of approaching the end of the interest rate process and decisions from abroad, has also reached a critical level, and with the break of this level, there are analyzes that the break of the 31,400 region on the Bitcoin side may occur together. Therefore, a lower-than-expected data in the evening may trigger a significant rise. However, we would like to say that downward and upward needles may occur before the data and attention should be paid.
ETHEREUM(ETH)
ETH, which gained 0.30% as of morning hours, is priced at $ 1883. There is a similar movement in Ethereum as in Bitcoin. Although the volume inflows and upward movement seem clearer, we see that Ethereum is also rising towards the channel mid-band in small steps and then testing the breakout of this. We would like to remind you that if the 1885 breakout occurs in Ethereum, the new price target will be 1930, and if the breakout does not occur and the selling pressure increases, our support zone is in the 1840 region.
AVALANCHE(AVAX)
AVAX is priced at $ 13.20 as of today morning hours, down 0.53%. After testing the resistance level in AVAX, we retreated back to the 50-day moving average and we expect to see support from here for now. If Avax can see support from the 200 MA of 13.15, we can say that the price target will be 13.50-13.80 band again, but in case of a downward breakout, we can say that our next support is in the 12.70 region.
SOLANA(LEFT)
Solana is priced at $ 22.05 with a 0.09% gain in value as of today morning hours. We see that the retracement that followed the break of the downward movement in SOL ended and returned to positive pricing and tested the $ 22 resistance upwards. If there is a breakout in SOL, which has not been able to break this level for several attempts, the new target is 26, and if there is no breakout and sales pressure, we can say that our support level is in the $ 20 region.
