Blackrock Spot Files for Bitcoin ETF
Blackrock, one of the world’s largest asset management companies, has filed an application with the SEC for a spot Bitcoin ETF in the US. Previous spot Bitcoin ETF applications from Blackrock, which has been known to continue crypto investments and studies since last year, were rejected by the SEC.
Peg Loss in Tether
Yesterday saw USDT lose its dollar peg following heavy selling on Curve 3Pool, one of the most important stablecoin trade pools in DeFi. Under normal conditions, the balance rates of the three stablecoins (USDT, USDC, DAI) in 3Pool were equally distributed at 33.3%, but after the USDT sale that started yesterday, the USDT balance rate increased to 70% and then USDT fell to 0.997 with intense selling pressure. Tether CTO Paolo Ardoino shared his assessments on this issue. Ardoino said that the reason for this incident is that Tether is a liquidity gate in and out of the markets, so market conditions may have forced large groups to exit the market, while also stating that they will not ignore the direct attack they experienced in 2022. Afterwards, he shared on Twitter that they can cover all transactions and that these movements are not important for them.
Ripple to Cooperate with the Central Bank of Colombia
In Ripple, where important developments have taken place during the litigation process, the company’s new projects and collaborations continue without interruption. Ripple, which works with many universities and communities and provides CBDC consultancy to some countries, is collaborating with the Central Bank of Colombia, according to yesterday’s news. In a press release yesterday, the Central Bank of Colombia announced that Ripple has partnered with the Ministry of Information and Communication Technologies to use Ripple’s CBDC platform.
Open Database App from Polygon Labs
Polygon Labs has launched The Value Prop, a database of 39 different use cases and 300 different applications. The numbers are expected to increase with usage. The project is designed like a Wikipedia for use cases. Rebecca Rettig, one of the company executives, stated that this is just the beginning and that this will not be a stagnant website.
2 Borrowing Institutions Stop Withdrawals in South Korea
Two South Korea-based crypto borrowing platforms have halted withdrawals. The names of these two companies are Delio and Haru Invest. It is known that the problems experienced by these two companies will not be a big problem for the crypto borrowing sector and that they are a small part of the sector.
BITCOIN [BTC]
Bitcoin is priced at $ 25,584 with a 0.05% loss in value as of today morning hours. We see Bitcoin falling below 25,000 with interest rate data and statements. With Bitcoin seeing support at the 24,800 level, the price was stuck in the range of 24,800-25,000 throughout the day yesterday, after the de-peg event on the USDT side was resolved before it became too serious, and then Blackrock’s Spot BTC ETF application pushed prices back above 25,000. We can say that the downward movement in Bitcoin continues, but it is very important for pricing that the 25,000 level remains strong. We can say that it would be correct to use the 25,200 region as a support level again in Bitcoin, to determine strategies according to the rises and to plan stop levels below 24,800.
ETHEREUM [ETH]
ETH, which gained 0.36% as of morning hours, is priced at $ 1672. After retreating to the 1630 level, which is the downside breakout target of the horizontal channel in Ethereum, it made a nice turn and returned to the 1670 region. We can say that the target price in Ethereum is the range of 1710-1720 and that it will be very important to exceed this region again in terms of rising and returning to old levels, the break of the 1720 level has not occurred for quite a long time, and in such a case, we can say that earlier selling pressures may occur due to the high level of unease in the market compared to the previous period.
