Judge Rules XRP Nota Security
Analisa Torres, the judge hearing the Ripple-SEC case, ruled that the XRP token is not a security. Thus, Ripple won the SEC case that has been going on for nearly 3 years. The decision was explained as Ripple’s sale of XRP did not constitute an investment contract. XRP was re-listed by major exchanges after the decision.
Very Important Statement from Polygon
Polygon Labs made a very important announcement yesterday during the tokenization phase of Polygon 2.0. Polygon Labs announced POL, the network’s new token. POL will be mined at a 1:1 ratio with MATIC and is described as a technical improvement of MATIC. The announcement characterizes POL as a hyper-productive asset. We would like to remind you that this is still a proposal and the implementation will start if the proposal is accepted.
The First Bitcoin ETF Manages to Cross $100 Million
Bitwise’s Crypto Industry Innovators ETF (BITQ), the first US-listed ETF with crypto in its name, launched in the US in 2021, has surpassed $100 million in assets under management. The 5 largest assets in the fund are shares of Riot Platforms, MicroStrategy, Coinbase, Hive Digital Technologies and Hut 8 Mining.
Europe’s First Spot Bitcoin ETF to List
Europe’s first Bitcoin ETF is set to list. In the ETF, which was planned to be listed in July last year, it was decided that that period was not the right time and the process was postponed. It is known that Jacobi Asset Management will manage the ETF, which has actually received approval from the regulator.
Important Remarks by FOMC Member Waller
FED Member Christopher Waller made important evaluations in his statements last night. Waller said that not everything is clear on interest rates and inflation and that he is in favor of further rate hikes this year. He said that the continued robustness of the labor market and the overall performance of the US economy allowed the Fed to continue its tightening policies.
BITCOIN (BTC)
Bitcoin is priced at $ 31,376 with a 0.23% loss in value as of today morning hours. We see a significant rise in Bitcoin with positive news flows. We see that altcoins, led by Ripple, are decoupling positively, and in this process, Bitcoin still has not clearly overcome the 31,400 support. With yesterday’s movement, we see that BTC.D, Bitcoin dominance, has also retreated to 50% levels. We can say that the 31,400 break will be very important in Bitcoin.
ETHEREUM(ETH)
ETH, which gained 0.11% as of morning hours, is priced at $ 2006. With yesterday’s movement in Ethereum, the price exceeded the 1930 level and then the 2000 dollar level and reached the 2040 dollar level, which is the resistance zone of the ascending triangle pattern it realized during the week. We see that the price pressure caused by the securities assessments seen in Ethereum and other alts has turned into a relief movement as a result of the positive outcome of the XRP case and we see a positive divergence compared to Bitcoin.
AVALANCHE(AVAX)
AVAX, which gained 5.39% as of morning hours, is priced at $ 14.87. As seen in other bottoms in AVAX, XRP was positively affected by the outcome of the case and realized the 13.80 breakout and continued its rise afterwards. In AVAX, we can say that if we see that the 14.80 region is working as a resistance level, the next price target will be the $ 16 region.
POLYGON(MATIC)
MATIC, which gained 0.89% as of morning hours, is priced at $ 0.8578. In MATIC, we see that the price rose close to 20% with the re-test and positive news flow following the ascending triangle pattern that broke upwards. In Polygon, we can say that the short target for the pattern breakout target is 0.86 while the long target level is 0.95.
RIPPLE(XRP)
XRP, which gained 65% as of morning hours, is priced at $ 0.7890. Ripple saw heavy volume inflows and a big rally on the back of positive news flow and the expected court ruling. Having reached the target of its previously realized double bottom pattern, XRP faced selling pressure from here.
