Argentina’s New Government Gives Early Approval to Bitcoin
With the election of President Javier Milei, who is open to cryptocurrencies, Argentina has confirmed and approved that Bitcoin can be used as payment in official contracts. In a study published last month, Grayscale Investments noted that Milei sees Bitcoin as a crucial tool in countering the inefficiencies and corruption of centralized financial systems. Some people think that if South America’s second-largest economy starts using Bitcoin more often, it will trigger cryptocurrency adoption worldwide.
Spot ETFs Could Unlock $30 Trillion for Bitcoin
Michael Sonnenshein, CEO of well-known asset management firm Grayscale Investments, thinks that if the Spot Bitcoin ETF is approved, the crypto sector could see an influx of $30 trillion in recommended money. According to Sonnenshein, the market’s confidence can be attributed to Grayscale’s court victory a few months ago, which raised the community’s expectations for the establishment of a spot Bitcoin ETF. “Note that the asset manager has been ordered by the U.S. Court to reconsider its August request to convert its largest GBTC fund into an exchange-traded Bitcoin fund (ETF),” the Securities and Exchange Commission (SEC) said in a statement.
Mastercard Supports Fideum Group’s Vision to Connect Crypto with Traditional Finance
Fintech company Fideum Group announced that with the help of traditional payments giant Mastercard, it will be able to integrate digital assets into everyday financial activities. Mastercard selected Fideum as the overall winner of the Lighthouse FINITIV 2023 Fall Program for its clear vision to combine the modern features and functionalities of the cryptocurrency business with the tried-and-true principles of the traditional financial system.
El Salvador Approves Law Offering Citizenship to Bitcoin Investors
According to reports, El Salvador’s Congress has passed an immigration law that will provide faster citizenship to foreigners who donate Bitcoins to the government’s social and economic development initiatives. According to a Reuters article, the country’s legislature approved the law on December 21 with the support of Nayib Bukele’s New Ideas party. The law is expected to come into force soon.
Circle applies for license in France
Circle, the US company behind the stablecoin USDC, is expanding into the European market. The company was registered as a digital asset service provider (DASP) in France this week. Circle needs to obtain approval as a payment services provider (PSP) or register as an agent of a PSP to start its operations in France.
CAKE Rises After Proposal to Reduce Token Supply
CAKE surged more than 20% following a proposal to reduce the maximum token supply from 750 million to 450 million. “By reducing our token supply by 300,000,000,000 CAKE, we are marking PancakeSwap’s successful return from a high-inflation emission model to a much more efficient “flywheel” model,” PancakeSwap said in a statement on X.
SEC Holds Joint Conference Call with Spot Bitcoin ETF Applicants
In a recent development, the US Securities and Exchange Commission (SEC) is reportedly in discussions with multiple applicants for spot Bitcoin ETFs pending approval. During the conference call, the SEC is said to have emphasized the importance of the cash generation model among applicants. FOX’s Eleanor Terret reports that the SEC has ordered filers to remove all references to in-kind redemptions from their filings.
Solana DEX Volume Surpasses Ethereum for the First Time
According to the data, the DEX volume at Solana rose to $9.03 billion in the last seven days. In the same period, Ethereum’s DEX volume was 8.836 billion dollars. DEX activity in Solana has greatly increased thanks to the network’s low gas charges. At the same time, the crypto assets Bonk and Dogwifhat, the Solana-based memecoin that has performed exceptionally well recently, also seem to have a significant impact on this volume.
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BITCOIN(BTC)
Bitcoin is pricing at $ 44,097 with a 0.52% gain in value as of today morning hours. Yesterday evening, the $ 43,300 level was tested again, but there was no downward break. If above $ 44,000 is maintained, $ 45,000 can be exceeded in the near future. Pricing below $ 43,500 may lead to a retest of 42,500 support.
ETHEREUM(ETH)
ETH, which gained 0.79% as of morning hours, is priced at $ 2256. It seems to have crossed the middle band of the horizontal channel. From here, the target may now be $2336. In case of a fall below the band, the $ 2170 level can be seen again. In breaks above $2336, the $2400 level can be seen.
RIPPLE(XRP)
XRP is pricing at $0.6260 with a 0.50% loss in value as of morning hours. There was an increase up to 0.6263 dollars, but no permanence was achieved. To be sure of a bullish breakout in XRP, $0.65 needs to be breached. Below $0.65 will be a pressured pricing. With the gain of $ 0.65, rises up to $ 0.7266 can be seen. Below $0.60 may cause retreats down to $0.57.
AVALANCHE(AVAX)
AVAX is priced at $ 47.81 with a 3.89% gain as of morning hours. After the $ 45 break was realized, persistence was achieved. Rises up to 50 dollars can be seen. Although it is reassuring that it is advancing with very bulky candles, it is useful to pay attention to the news. In case of a pullback, $ 45 is a region that can work as support. If this region is tested, momentum may pick up and rises up to $ 50 can be seen again.
SOLANA(SOL)
SOL is priced at $ 98.88 with a gain of 5.43% as of morning hours. When we examine the four-hour chart, SOL, which continues its strong performance, rose to the $ 99 level yesterday. The first level to follow is the $ 100 region. If this level is exceeded, it may move towards the 105 dollar region. In case of a pullback, the $ 95 region can be followed as support.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 15.500 with a 1.35% gain in value. When we examine the four-hour chart, LINK, which broke the $ 14,700 and $ 15 zones with yesterday’s movement, is currently pricing above the 15,300 resistance zone. If this movement continues, the $ 16 region may be tested. In case of a pullback, the 15.300 region can be followed as support.
ALGO
ALGO is priced at $0.2502 with a gain of 11.8% as of morning hours. When we examine the four-hour chart, we see that the horizontal movement has broken upwards. ALGO, which broke strongly, rose up to the 0.25 region with this move. If the movement continues, the 0.30 region may be tested. In case of a pullback, the 0.225 region can be followed as support.
BAND
BAND is priced at $ 1,758 with a 5% gain in value as of morning hours. When we examine the hourly chart, we see that the rising channel movement has broken upwards and the resistance zone of 1.741 has been crossed. If this movement continues, the 1.80 zone can be followed. In case of a pullback, the 1.74 region can be followed as support.
