AAVE Launches GHO on Ethereum
The long-awaited new algorithmic dollar-indexed stablecoin “GHO” has been launched on AAVE. GHO has been activated on the Ethereum mainnet and 2.19 million GHOs have already been generated. GHO was introduced by AAVE as a decentralized and over-collateralized stablecoin. It was also announced that Stablecoin is collateralized with different assets such as Ethereum and AAVE.
Unlocking Continues at Blur
Blur has managed to attract all the attention with its significant rise in the NFT market. The rise of the NFT market has also affected the Blur price, with the token experiencing a significant appreciation into May. However, Blur also continues to have large unlocks, which puts selling pressure on the price. Since June 15, 239 million Blurs have been unlocked, of which 140 million have been sent to exchanges.
GBTC Volume Hits Yearly High
Grayscale’s GBTC fund hit its highest level of the year on July 13, based on daily volumes. GBTC, which attracted the attention of investors with the news of ETF applications, saw an even more significant volume inflow with the news coming on Thursday. While GBTC was priced at a discount of 45% below the asset value under the fund’s management, we see that this ratio has dropped to 25% with the ETF news.
Litecoin Passes Historic Milestone
An important announcement was made on social media accounts just days before the halving of Litecoin. Litecoin announced on Saturday that the 170 millionth transaction on the network had passed. They also stated that with this result, there have been 10 million transactions in the last 7 weeks, more than 1 million transactions per week, showing that Litecoin is accelerating.
SEC Accepts ETF Applications for Consideration
According to WSJ news in recent weeks, the SEC had found Spot Bitcoin ETF applications insufficient, and then companies reapplied for Bitcoin ETF applications. Last week, the SEC accepted Bitwise’s and then almost all ETF applications for consideration. Thus, we can say that ETFs are now in the evaluation process.
BITCOIN(BTC)
Bitcoin is pricing at $ 30.2846 with a 0.18% gain in value as of today morning hours. In Bitcoin, we see that we saw a huge selling pressure on Friday evening after the 31,000 breakout with news flows and returned to the 30,000 levels, which is the channel support zone. Bitcoin, which settled in the 30,200 region after the support seen in the 29,900 region, continued to perform a horizontal and tight movement in very low volume over the weekend. After the markets open on Monday, we may see greater activity and volume inflows in Bitcoin.
ETHEREUM(ETH)
ETH, which gained 0.53% as of morning hours, is priced at $ 1932. After the upward break of the horizontal channel movement in Ethereum, the 2040 level, that is, the long-term resistance level, was reached, but the break here did not occur and it fell back to the level of $ 1900 on Friday evening, experiencing a major decline with the market. In Ethereum, just like in BTC, we see volume declining, but with a clearer sideways movement. The sideways movement between 1915-1945 may offer different opportunities until the US open.
ARBITRUM(ARB)
ARB, which gained 1.42% as of morning hours, is priced at $ 1,328. In ARB, we see that the TOBO pattern has broken upwards and the target level is around 40%. With a re-test movement to confirm the breakout, it would be logical to enter from the 1.30 region and then use a strategy targeting the 1.90 region.
