Binance Fined $4 Billion – Apple Sued for Blocking Crypto in Payments

Binance Faces a $4 Billion Payout

The US Department of Justice has demanded $4 billion from Binance to resolve its ongoing investigation into the company’s operations. If Binance pays, it will be one of the largest fines ever paid in a cryptocurrency case.

Apple Sued for Blocking Crypto in Payments

Apple was sued by a group of users for not allowing cryptocurrency payment apps on iOS devices. The lawsuit alleges that Apple’s app store policies to block apps that support cryptocurrency payments hinder competition and limit consumers’ choices.

It is argued that Apple’s policy is an obstacle to making cryptocurrency payments more accessible and user-friendly. It is also claimed that Apple’s policy prevents apps that support cryptocurrency payments from reaching iOS users and prevents the growth and development of these apps.

Inflows to Digital Asset Funds Continue

Digital asset funds received a total of 176 million dollars worth of inflows this week, making it 8 consecutive weeks of inflows. When we analyze it on a coin basis, there was an inflow of 155 million dollars to Bitcoin, 13.6 million dollars to Solana and 3.3 million dollars to Ethereum.

Bitcoin Transaction Fees Leave Ethereum Behind

Recently, Bitcoin transaction fees have overtaken Ethereum. The average Bitcoin transaction fee is around $10, while the average Ethereum transaction fee is around $2. This could result in Bitcoin becoming a more expensive and less accessible asset. Ethereum could become a more affordable and user-friendly alternative. There may be several reasons for this change. First, the liquidity of the Bitcoin network is increasing. This results in more transactions being processed faster and more efficiently. Second, work continues on scaling the Ethereum network. This could help lower Ethereum transaction fees even further.

Important Developments in Solana Data

Trading volume on Solana’s decentralized exchanges (DEX), notably Orca and Raydium, increased by 34% last week. With this increase, the total trading volume in Solana DEXs exceeded the 3 billion dollar mark. In addition, the Solana TVL value has also seen a significant increase. Since the beginning of November, the Solana TVL value has increased by 43%.

Celcius Recovery Plan Blocked by SEC

Celsius Network’s post-bankruptcy recovery plan has been blocked by the US Securities and Exchange Commission (SEC). The SEC is requesting more information from Celsius and assessing whether the plan is comprehensive enough to protect investors. Before filing for bankruptcy, Celsius offered users a platform to borrow cryptocurrencies by offering high interest rates. However, Celsius’ financial situation deteriorated due to the downturn in the markets and it filed for bankruptcy on June 13. Celsius’ post-bankruptcy recovery plan included a liquidation plan and a reorganization plan that allowed users to recover their assets. The liquidation plan stipulated that users could only get back 20% of the value of their assets. The restructuring plan would have allowed users to get back a larger share of their assets. But this will depend on the reconfiguration of Celsius.

Kraken Charged by SEC

The US Securities and Exchange Commission (SEC) has charged cryptocurrency exchange Kraken for allegedly operating an unregistered platform and improperly commingling customers’ funds. According to the SEC’s allegations, Kraken has been operating as an unregistered securities exchange in the US since 2015. The company allows customers to buy and sell cryptocurrencies and convert cryptocurrencies into fiat money. It also claims that Kraken’s operation as an unregistered platform allows it to avoid regulations designed to protect customers’ investments. It also alleges that the company improperly commingled customers’ funds. The SEC fined Kraken $10 million and required it to operate as a registered exchange. The company pleaded guilty to the charges and agreed to pay the fine.

Strong Performance from AVAX

AVAX, the native token of the Avalanche blockchain, has risen well among Layer 1 alternatives to Ethereum. The past month has seen a significant rise in alternative Layer 1 projects to Ethereum. AVAX gained 130% in that time, while Ethereum gained only 22%.

ARK 21Shares Bitcoin ETF Application Amended

A change has been made to the language of the ARK 21Shares Bitcoin ETF application. This situation, detailed in the latest S-1 amendment, has naturally created confusion about crypto ETFs. This change is intended to provide indirect access to investors rather than direct access.

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BITCOIN(BTC)

Bitcoin is priced at $ 37,344 with a 0.26% loss in value as of today morning hours. The price remained almost the same as yesterday. Looking at the 4-hour chart, we see that the ascending channel is still working well. The midpoint of the channel is quite important and in a scenario where it receives a reaction from here, it may want to go to the upper band again. So that means a break of $38,500. If a downward breakout occurs, we may test below the horizontal band. That’s approximately 36,000 dollars. The reaction it will get from these 2 places is very important and it would be more accurate to evaluate according to the price movement in these places.

ETHEREUM(ETH)

ETH, which lost 0.45% as of morning hours, is priced at $ 2012. On the 4-hour chart, we are in a falling trend structure in the medium term. 2000 dollars is a critical level for Ethereum, and if it holds here, we can see $ 2050 and then $ 2100 again. In pricing below $2000, 1975 may be the first support. If there is a sharper retreat, $ 1900 seems to be the major support position.

RIPPLE(XRP)

XRP is priced at $0.6106 as of morning hours, down 0.26%. On the 4-hour chart, it is in a falling structure in the medium term. After $0.58 works as support, the upside break of $0.63 is very important. In case of an upward breakout, an increase up to the level of $ 0.70 may occur again.

AVALANCHE(AVAX)

AVAX is pricing at $ 20.72 levels with a 0.62% loss in value as of morning hours. Looking at the daily chart, we can see that $23.70 is working as a resistance zone. A break above this level could take AVAX up to $28. If there is a pullback, $20 seems to be the major support zone. With the reactions it will receive from here, it can progress up to $ 24 again.

SOLANA(SOL)

SOL is priced at $ 55.80 with a 1.38% loss in value as of morning hours. When we examine the hourly chart, we see that a rectangle pattern is formed. As we mentioned yesterday, there was a pullback with the downside break of the uptrend. For now, 54.90 and 61.40 levels seem important for SOL, which is still moving within the rectangle boundaries. With a downward break of the support point, there may be a retracement towards 52.70. The 57 level can be followed as resistance.

CHAINLINK(LINK)

As of morning hours, LINK is pricing at 14.217 with a 1.81% loss in value. When we examine the four-hour chart, we see that the 15,215 level is an important resistance point and there is no persistence above this level. LINK may try the resistance level again with an inverse shoulder-head-shoulder pattern if it receives a reaction from the 14 and 14,200 areas, where it is currently located. If the decline continues, there may be a pullback towards the 13,600 level.

WLD
WLD is priced at 2.405 with a gain of 9.28% as of morning hours. When we analyze the daily chart, the resistance zone of 2.530 looks important. With the upward break of this level, an increase towards the 3 dollar levels may occur. If the resistance cannot be broken, there may be a retracement towards 2,200 levels.

BAKE

BAKE is priced at $ 0.1526 with a gain of 4.30% as of morning hours. When we examine the four-hour chart, we see that there is a downtrend. With an upside break of the resistance level of 0.1540, there may be a rise towards the 0.1590 region. If the resistance cannot be broken, there may be a retracement to 0.1480.