Tesla Earnings Announced Above Expectations
Tesla, which announced its balance sheet and earnings on Wednesday evening, announced revenue of 24.93 billion, above expectations. When Tesla’s balance sheet is analyzed, it is seen that the company has not touched its Bitcoin reserves since last quarter and has 10,725 Bitcoins. Tesla especially in 2022 2. It sold 75% of the Bitcoins it held in the quarter, which caused significant selling pressure in the market.
Nasdaq Halts Crypto Asset Custody Efforts
US exchange operator Nasdaq has been working on crypto asset custody services for some time. According to the latest statement, Nasdaq announced that they stopped their work for crypto custody service. 2. Nasdaq has even suspended its licensing efforts for this service, which was expected to be operational by the end of the quarter. While Nasdaq’s main reason for this move was the change in the regulatory environment and business order, it was announced that they did not want to be in uncertainty. Despite this, Nasdaq CEO, Adena Friedman, remains positive about the future of crypto assets. Friedman stated that the company’s access to sufficient technological capability will enable them to work with crypto assets and contribute to the development of the digital asset ecosystem.
Societe Generale Receives Crypto Service License from France
Societe Generale, one of the 3 largest banks in France, has become the company that will offer services with a digital asset service provider license in France. According to a Bloomberg report, French regulator AMF approved the DASP license on July 18. Regarding other digital asset service provider companies based in France, the AMF noted that they are registered but none of them have obtained the DASP license.
SEC Adds 8 Bitcoin ETF Applications to Its System
The SEC, which approved ETF applications for evaluation last week, started the process by adding these applications to the system yesterday. The 8 companies whose applications were added were BlackRock, BitWise, Fidelity, WidsomTree, VanEck, Invesco, Proshares, and Valkyrie. While this news does not signal the outcome of the application process, it only means that the process has begun.
Avalanche Finance Protocol Performed Significantly This Week
Avalanche has become one of the strongest ecosystems for DeFi, hosting many of the most important projects. In addition to protocols such as AAVE and Benqi, which are among the biggest in their respective fields, Avalanche is now seeing the significant rise of Struct Finance. Struct Finance was able to realize a 150% increase in TVL data last week, rising from $350,000 to $940,000. Looking at the TVL ranking, Struct Finance is also 55 in projects on the Avalanche network. ordinary 34. to the top of the rankings.
BITCOIN(BTC)
Bitcoin is pricing at $ 30,033 with a 0.43% gain in value as of today morning hours. After the downward tests in Bitcoin on Tuesday, we see that the price remained below 29,800, but again made small movements on low volume. While the fact that Tesla did not sell Bitcoin brings some relief, we think that the movement in Bitcoin is still very tight and may make a sudden breakout in one direction. The main reason for the inactivity in the market is the lack of intensity in macroeconomic data this week ahead of the interest rate decision next week, as well as the lack of positive news in terms of crypto assets. At the same time in Bitcoin, we can say that the market dominance has also come below 50% and continues to fall and continues to be inactive compared to the bottoms.
ETHEREUM (ETH)
ETH, which gained 0.71% as of morning hours, is priced at $ 1902. Unlike the ongoing channel movement in Ethereum in the short term, today we wanted to talk about the weekly chart. In Ethereum, we are in an ascending triangle pattern where the 2040 level is working as resistance and we see that the pattern continues. We see that Ethereum, which has been stuck in the range of 1720-2040 for the last 12 weeks, cannot fully exit the rising movement and entered the accumulation process after the 1720 break. In Ethereum, we think that the impact of Ripple news on the price is still not enough and that the rises may continue after the developments regarding the lawsuit process. At the same time, looking at the dominance chart on the Ethereum side, we can say that the rising movement is about to break down from the 19.50 level and if the break comes, we can say that we can see a little more positive divergence at the bottom in this period when Bitcoin dominance is also declining.
AVALANCHE(AVAX)
AVAX is priced at $ 14.17 with a gain of 1.29% as of today morning hours. AVAX continues to move in the range of 13.80-14.20 and at the same time, we see that the descending movements are being overcome one by one. AVAX, which has broken two of the 3 different descending movements that can pass through the top, is currently testing the resistance of the highest movement. We can say that the region on AVAX is located above both the descending resistance and the 14.20 resistance on the horizontal, so it will not be easy to break, but if the breakout occurs, the price will target the 14.60 level.
