Chainlink Launches Cross-Chain Protocol
The protocol, called CCIP, aims to bridge the gap between blockchains and traditional capital markets. The protocol is in early access and supports the Avalanche, Ethereum, Optimism and Polygon networks. CCIP was also integrated into the AAVE and Synthetix protocols on the DeFi side. It was stated that Synthetic’s use of CCIP will be for token transfers with increased security with the capture and generate method, while the reason for the use of AAVE is to ensure the security of inter-chain governance systems.
Crypto Asset Awareness Rises to 75% in Argentina
In a study, it was concluded that the crypto asset awareness levels of Argentine people increased to 75%. Most of the people also expressed caution against volatility. The survey was conducted in the capital of the country and in 23 different regions. The survey showed that 15% did not know anything about crypto assets. In contrast, 35% said they had heard of it and 45% said they knew what crypto assets were. The level of awareness increased significantly among the 16-29 age group, reaching 90%.
Compound’s Debt on Ethereum Continues to Rise
Compound’s outstanding debt on Ethereum appears to have reached $1 billion. 1 billion dollars stands out as the highest level seen this year. The increase in debt is mainly due to the vacuum created by the debt platforms that have been going bankrupt over the past year. Compound is at the top of its game as one of the largest decentralized borrowing platforms. The amount of debt outstanding at Compound stood at $1.07 billion on Friday, July 14.
Lawsuit Commentary by Gary Gensler
SEC Chairman Gary Gensler gave his first public interview following the conclusion of the Ripple lawsuit. Gensler’s main topic was the rules for digital assets. Gensler said he had previously proposed rules for the digital asset but was criticized by crypto advocates. For the rules that may come, he stated that it is too early to decide whether the SEC will make more crypto-specific rules.
G20’s Financial Stability Authority Shares Crypto Recommendations
The G20’s Financial Stability Board pillar finalized high-level recommendations for cryptoasset and stablecoin regulation. The first recommendation of the organization, which went to the G20 countries with two different recommendation packages, includes the regulation, supervision and regulation of the crypto asset market and activities, while the other package includes stablecoin regulations.
BITCOIN(BTC)
Bitcoin is priced at $ 30,083 with a 0.19% loss in value as of today morning hours. After the horizontal movement seen in Bitcoin over the weekend, the selling pressure that occurred yesterday evening pushed the price below the 29,800 support, but we see that the 4-hour close did not come and Bitcoin rose slightly from here and rose above the 30,000 level. Although there was no development after the positive news on Thursday, we can say that there is no reason for negative pricing to this extent and that the range of 29,850-30,000 can be considered as an opportunity in the channel movement, but stop should be used to be ready for breakouts and closures.
ETHEREUM(ETH)
ETH, which lost 0.22% as of morning hours, is priced at $ 1906. In Ethereum, we see that the 1915 level was broken down and the channel went down to the mid-band. Although Ethereum, which did not break here, rose above 1900 again with a quick return from the 1880 region, we can say that it faced selling pressure here and its pricing is still negative.
AVALANCHE(AVAX)
AVAX is priced at $ 14.22 as of today morning hours, down 0.19%. After falling to the critical support level of 13.80 yesterday, AVAX broke its descending movement upwards and rose as high as 14.65. After the retracement from here, we see that AVAX has broken the descending movement upwards and at the same time is above 14.20 support. If these two levels are broken, we think that the price may come to the 13.80 region again. We can also say that the primary target will be 14.60 in case of a return.
CHAINLINK(LINK)
LINK, which lost 0.72% as of morning hours, is priced at $ 7.138. With the positive news flow coming in LINK, we see that the range of 6.75-6.95, which fell below, has risen above the range of 6.75-6.95, and at the same time, the descending movement that has entered again has been overcome and broken upwards. We can say that the breakout was also confirmed by closing above this region in LINK and for now, it would be more accurate to wait for a re-test to the 6.90 region, waiting for the breakout to be fully confirmed and an upward signal to come.
