Ethereum Hits $2.2 Billion Record Inflow
Ethereum-based investment products surpassed the 2021 peak last week, with net inflows of $634 million coming from US spot ETFs, reaching a record annual inflow of $2.2 billion. Ethereum outpaced Bitcoin in inflows, signaling renewed investor interest and strong performance. Analysts highlighted the potential confirmation of staking returns as a positive catalyst. Meanwhile, XRP funds reclaimed third place in the market cap rankings with a 69% price increase, reaching a record weekly inflow of $95 million. Bitcoin experienced $457 million in outflows as it struggled with the $100,000 resistance level, and capital flowed into altcoins. Overall, global digital asset inflows reached $37.3 billion year-to-date, reflecting strong market sentiment.
Are Silk Road Bitcoins a Sell Signal?
An estimated $2 billion worth of Bitcoin (19,800 BTC) tied to Silk Road was transferred to Coinbase Prime by the U.S. government, marking the sale of seized assets. The government’s previous Bitcoin sales have caused markets to fall, but this transaction only slightly pushed the price down to $95,800. While the U.S. still holds $18 billion worth of seized crypto assets, recent court filings indicate plans to liquidate some of that wealth. The DOJ seized more than 50,000 BTC from James Zhong in 2022 on charges of Silk Road-related fraud. The transaction is part of the U.S. Marshals Service’s partnership with Coinbase Prime to manage and trade large-scale digital assets.
Coinbase Apple Pay Integration
Coinbase has integrated Apple Pay into its Coinbase Onramp service, allowing users to easily purchase cryptocurrencies like Bitcoin and Dogecoin with fiat currency. The integration allows for fast, KYC-free wallet funding and free in-and-out transactions with USDC. Popular apps like Moonshot support the feature, allowing users to top up with up to $500 weekly with Apple Pay. With over 60 million Apple Pay users in the U.S., the move simplifies the process for crypto users and is part of Coinbase’s efforts to expand access to on-chain economies, such as its acquisition of Utopia Labs to develop Ethereum-based payments.
Cardano Founder Hoskinson Calls for Unity on Crypto Policies
Cardano founder Charles Hoskinson has called on industry players and lawmakers to come together on common ground to create a clearer framework for crypto regulations in the US. Hoskinson aims to play an active role in the US Congress on crypto regulations by establishing a policy unit within his company Input Output Global (IOG). This initiative aims to both provide regulatory clarity to the sector and support crypto innovation in the US. Hoskinson stated that crypto policies “must be shaped by the American people and industry stakeholders,” arguing that the current regulatory uncertainty is slowing down the sector. He also emphasized that cross-party cooperation is critical in new policy regulations. These statements triggered an increase in the value of Cardano’s ADA token, increasing investor confidence.
MicroStrategy Increases Bitcoin Portfolio to 402,100 BTC
MicroStrategy has purchased an additional 15,400 Bitcoins, bringing its total holdings to 402,100 BTC. The company completed the transaction at an average price of $95,976. The purchase is based on the proceeds from the sale of 3,728,507 shares during the same period. MicroStrategy plans to sell $21 billion worth of stocks and fixed-income securities, with a total capital raise of $42 billion. The strategy aims to raise capital for additional Bitcoin purchases over the next three years.
WisdomTree Files S-1 with SEC for XRP ETF
Asset manager WisdomTree has filed with the SEC for a spot ETF that would track the price of XRP. WisdomTree, which manages a $113 billion portfolio, will run the proposed “WisdomTree XRP Fund,” which will be managed by Bank of New York Mellon. The initiative comes as interest in XRP-based investment products in the U.S. grows. WisdomTree, as well as Bitwise and Canary Capital, have filed similar applications, but the fund’s exchange platform and ticker have not yet been disclosed.
MARA Holding Issues $700 Million Bonds for Bitcoin Acquisition and Growth Strategy
Bitcoin miner Mara Holdings is planning to issue $700 million in convertible bonds. The new bonds will be used to buy back existing bonds and buy more Bitcoin. The company mined 907 Bitcoins in November, bringing its total holdings to 34,959 BTC. The offering will be aimed at institutional investors with a maturity of 2031, and the bonds will offer the option to convert into cash or stock.
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BITCOIN (BTC)
BTC is priced at 96,695 with a 0.23% gain as of the morning hours. It is observed that the price is trading at 96,088.75 and is moving close to the resistance zone in the 98,000-100,000 band above. This region draws attention as a supply area where the price has previously faced selling pressure. If this resistance zone is broken, BTC is likely to continue its upward movement and test new peak levels. On the support side, 93,283.72 stands out. Below this level, the 86,628.74 level, where the price has previously seen strong demand, can be monitored as a critical support. In particular, the preservation of the 93,283.72 level will be a development that supports the upward potential.
ETHEREUM (ETH)
ETH is priced at $3690 with a 0.23% gain as of the morning hours. It is observed that the price is trading at 3,652.11 and is moving towards the resistance area in the 3,800 – 3,900 region above. This resistance region is an important supply area where selling pressure has formed in previous price movements. If the price tests this region, new upward targets can be expected to form if the resistance is broken. However, if the selling pressure continues in this region, there is a risk of the price pulling back. In downward movements, the 3,400 level can be monitored as short-term support. Further below, the 3,175.47 level stands out as a strong support area. If the price tests these levels, buyers are likely to step in.
RIPPLE (XRP)
XRP is priced at $2.7090 with a 0.57% loss in value as of the morning hours. XRP, which has a 6-day rise series, increased by 18.78% yesterday and saw its all-time high again. For XRP, which tested $2.8723 with this rise, breaking the $2.7823 level will be important for the continuation of upward movement. In the event of a possible negative movement, $2.4880 and then $2.2922 are important support levels. It is important for investors to carefully monitor the determined critical support and resistance levels.
AVALANCHE (AVAX)
AVAX is priced at $52.12 with a 0.27% loss in value as of the morning hours. AVAX, which closed yesterday with a 15.92% increase in its 4-day rising series, started the new day with minor pullbacks. For AVAX, which tested the $50.69 level last seen in April 2024 this morning, it will be important for candles to close above the $52.45 level in order to continue the positive trend. Then, the 54.69 level can be met as resistance. In a possible negative movement, first the $50.45 level and then the $48.25 level can be expected to work as support. It is important for investors to carefully monitor the determined critical support and resistance levels.
SOL (SOLANA)
SOL is priced at $228.07 as of the morning hours, down 1.02%. SOL, which started the new day positively after a 3-day series of declines, seems to have tested the critical support level of 221.68 yesterday and encountered purchases at this level. In order for the positive movement to continue, it will be important for it to break the $229.50 – $233.34 resistance band and make candle closings above it. In a possible negative movement, the $221.68 level can be tested again. If this level is broken, a decline to the $207.96 level may occur with rapid sales. Therefore, it is important for investors to carefully monitor the determined critical support and resistance levels.
