Bitcoin and Ethereum ETPs to Begin Trading on the London Stock Exchange
Bitcoin and Ethereum ETPs are set to launch on the London Stock Exchange (LSE) following approval by the Financial Conduct Authority (FCA) on May 22. WidomTree’s physical Bitcoin ETP with symbol WBTC and physical Ethereum ETP (WETH) will be among the first crypto ETPs to list in the UK and are expected to begin trading on May 28, ETF Stream reports.
US Crypto Act FIT21 Approved
The crypto industry scored its biggest policy win in the United States on Wednesday, when the House of Representatives approved a sweeping bill to regulate digital asset markets, recording a 279-136 vote in which Democrats crossed party lines to support the bill. The adoption of the crypto market structuring bill marks the industry’s most significant legislative achievement in Congress.
BlackRock, Grayscale and Bitwise Update Spot Ethereum ETFs
Three more United States-based asset managers with spot Ethereum ETF applications have updated their 19b-4 filings with the Securities and Exchange Commission (SEC). In a filing to the Nasdaq Stock Exchange on May 22, asset management firm BlackRock amended its spot Ethereum ETF 19b-4 application to remove the staking provisions. Grayscale and Bitwise also submitted similar changes to the New York Stock Exchange Arca.
Worldcoin’s Data Collection Banned by Hong Kong
Hong Kong’s Personal Data Privacy Office (PCPD) has banned Worldcoin from collecting data in the territory due to privacy violation concerns, according to a notice dated May 22. PCPD alleged that Worldcoin collected iris and facial images from 8,302 individuals using an iris scanning device. Additionally, the regulatory body criticized Worldcoin for not providing enough information to users.
Grayscale Ethereum Trust’s Discount Value Is Lowest Since 2021
As the expectation that Spot Ethereum ETFs will be approved increases, the discount rate of Grayscale Ethereum Trust (ETHE) has fallen below 10%, the lowest level since 2021. According to the latest data, the discount rate is currently at 6.6%. This rate increased to a peak of 60% in 2022 and has dropped significantly with spot Ethereum ETF expectations.
Nvidia Announces Record Balance Sheet
Nvidia’s balance sheet was announced yesterday evening. Revenue rose 18% from last year’s fourth quarter and 262% from a year ago, beating analyst estimates of $24.6 billion. On the back of a strong balance sheet, NVDA stock prices rose above the $1,000 level in after-market trading and its market capitalization exceeded $2.5 trillion.
Partnership Between SKALE and FIO Protocol
SKALE has partnered with FIO Protocol to break down usability barriers and deliver seamless blockchain experiences to a wider audience. By integrating FIO Protocol’s user-friendly solutions into SKALE, this collaboration promises to benefit projects on SKALE, increase the adoption of these projects and increase the level of interoperability.
Strong Price Movement from Metaplanet, Known as Japanese MicroStrategy
Metaplanet Inc has outperformed every other company on the Japanese stock market since the beginning of the week. Over the past two days, Metaplanet shares gained 50% in value, rising from 41 JPY at Monday’s close to 90 JPY as of Wednesday. This is two consecutive trading sessions in which Metaplanet achieved its maximum daily gain, as mandated by the Tokyo Stock Exchange (TSE). Following in the footsteps of MicroStrategy (MSTR), the world’s largest institutional holder of Bitcoin, Metaplanet’s new primary institutional goal is to accumulate as much Bitcoin as possible.
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BITCOIN (BTC)
As of the morning hours, BTC is priced at $69,418 with a 0.37% gain in value. Bitcoin, which got stuck at the $72,000 level, which is the resistance zone after the strong price movement on Monday, has not been able to stay above this zone for now. We see that the $69,000 level is an important support zone in downward movements. If this region is broken, $68,500 can be tested. In upward movements, the level of 70 thousand dollars can be followed as a short-term resistance zone.
ETHEREUM (ETH)
ETH is priced at $3771 with a 0.95% gain in value as of the morning hours. When we examine the daily chart, we see that there is a horizontal movement between the 3700 and 3800 dollar levels. These two levels can be followed as main support and resistance zones. In upward movements, $3900 can be tested with a breakout of the $3800 region. In case of withdrawals, the $ 3730 region appears as short-term support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.52.77 with a 0.17% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be permanent. $0.50 is a critical level and this level has been regained. Initial support again appears to be the range between $0.50 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.
AVALANCHE (AVAX)
AVAX is priced at $39.90 with a 0.25% loss in value as of the morning hours. After the horizontal area broke up, we saw a movement up to the $42 level, but it could not be sustained above this area. In case of withdrawals, the 39.50 and 39 dollar areas can be followed as support. In upward movements, if there is persistence above the $42 level, the $45 region can be targeted.
SOLANA (SOL)
SOL is priced at $177.90 with a 0.19% depreciation as of the morning hours. When we examine the hourly chart, after the upward break of the $175 resistance zone, there was a strong price movement towards the $188 region. After this move, there is currently some retracement. If the retreat continues, the $180 and $178 areas can be followed as support. If it falls below this region, the $175 level may be tested.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $16,578, with a 0.93% loss in value. When we examine the hourly chart, we see that the ascending channel movement has been broken downwards. If this movement continues, the $16,200 region appears as support. In upward movements, 16,700 and 17 dollars levels can be followed as resistance.
BCH
BCH is priced at $509 with a 2.04% gain in value as of the morning hours. When we examine the daily chart, we see that the resistance zone at $525 is important. If there is a breakout movement above this region, the $550 region can be targeted in the short term. In case of withdrawals, the $ 500 and $ 490 levels can be followed as support.
DOT
DOT is priced at $7,528 with a 0.79% gain in value as of the morning hours. When we examine the daily chart, we see that the horizontal movement has broken upward. In case of persistence above the broken resistance zone of $ 7,440, the $ 7.90 zone can be followed. In case of withdrawals, the $ 7,250 level can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2360 dollars with a 0.82% loss in value. When we examine the four-hour chart, we see that the $2400 level has been broken strongly downwards. If this movement continues, the $2340 region can be followed as support. In upward movements, the $2380 region appears as support.
OUNCE OF SILVER
As of the morning hours, silver is priced at $ 30.35 with a 1.44% loss in value. When we examine the hourly chart, we see that the horizontal movement between the $31.20 and $32.40 levels has broken downwards. If this movement continues, the $30 region can be followed as support. In upward movements, the $ 30.70 region can be followed as resistance.
