ARK INVEST Applies for Spot Ethereum ETF
ARK Invest and 21Shares collaborated on the first spot Ether ETF application in the US. The venture aims to hold Ether directly and, if approved, will be traded on the Cboe BZX Exchange. This development is considered an important step in crypto investment, especially at a time when the SEC is evaluating Bitcoin ETFs. It also reflects a trend of international crypto acceptance in line with other countries, such as Canada, approving similar products.
Academic Collaboration from Solana Foundation
The Solana Foundation has partnered with the Hong Kong University of Science and Technology’s Crypto Fintech Lab. As part of this collaboration, Solana courses will be offered and students will receive financial support for their innovative projects. Based in Hong Kong, Solana aims to develop the blockchain ecosystem, with a particular focus on students in this region. The Hong Kong University of Science and Technology’s Crypto Fintech Lab has a prominent position around the world, and the university’s president has a positive attitude towards cryptocurrencies. Hong Kong is known as a leading market for digital assets and blockchain.
FASB approves new rules
The US Financial Accounting Standards Board (FASB) has approved new rules for companies to use when holding Bitcoin. From 2025, companies will be able to report their crypto assets at fair value. This change is expected to make Bitcoin and other digital currencies more attractive to businesses and provide greater transparency. The current practice does not reflect the true market capitalization of crypto assets, and the new rules will correct this. Michael Saylor says this development is positive for Bitcoin.
BITCOIN(BTC)
Bitcoin is priced at $ 25,778 with the depreciation it experienced as of today morning hours. In Bitcoin, we see that market inactivity is still continuing. As we follow the DXY, it seems that we will continue to see corrections in Bitcoin with the strengthening of the USD.
ETHEREUM(ETH)
ETH, which lost 1.2% as of morning hours, is priced at $ 1637. Just like Bitcoin, Ethereum is also experiencing a great inactivity. Ethereum, which could not participate in the positive divergence at the bottom yesterday, continued its horizontal movement without gaining value like Bitcoin. The critical level in Ethereum is 1605 and 1550 in case of a breakout.
RIPPLE(XRP)
XRP is priced at $0.5010 with a 1.63% depreciation as of morning hours. We see that XRP remains below the 200-day moving average. If 0.51 is broken after the 200-day MA in Ripple, which realized a horizontal movement and remained below 0.51 after exceeding the support zone, we can target 0.5250 and then 0.55 levels.
AVALANCHE(AVAX)
AVAX is priced at $ 9.96 as of morning hours, down 1.07%. It is very important to exceed the 10 dollar zone in AVAX and 9.75 and 9.35 levels will be important in the downward movement. In the upward movement, we will be targeting 10.50 levels after exceeding 10 dollars.
WORLD COIN (WLD)
WLD had achieved a 30% price movement from yesterday evening until this morning, and is currently down 10% as investors who want to take profits in the morning hours sell. Investors who want to take advantage of the retracement can evaluate purchases with 1,065 stops at 1,116 levels.
SOLANA(SOL)
SOL is priced at 19.69 with a 1.05% depreciation as of morning hours. Solana, which broke downward, broke the $ 20.00 level and retreated to 19.70. We can expect the $19 level after the 19.70 breakout in Solana.
