Bitcoin Hits $40,000 for the First Time Since April 2022
Bitcoin’s price reached such a high level for the first time since April 2022. At the same time, the price of Bitcoin has more than doubled since this time last year. The rising price seems to reflect the ongoing optimism and excitement regarding the expected approval of a Spot Bitcoin ETF in the United States.
23 Million Dollars Additional Budget from Arbitrum DAO
Arbitrum DAO has secured an additional $23.4 million in funding to finance all projects approved in the STIP. In a vote between November 18 and December 2, the Arbitrum community approved additional funding for projects that were approved for grants but not funded due to the 50 million ARB token cap. As a result of the final vote, 21.1 million ARB tokens worth $23.4 million will be distributed to an additional 26 projects. The additional capital was approved with 73.1 million votes against 216.7 million, bringing STIP’s total budget to 71.4 million ARB tokens. The tour will fund 56 projects to support diverse, emerging builders and create a welcoming environment for new projects.
UTAH’s Chief Justice Threatens SEC with Sanctions
After losing its lawsuit against crypto company DEBT Box, the Securities and Exchange Commission (SEC) was forced to admit that some of the claims made by SEC lawyers in support of the lawsuit were “false or misleading”. One of these allegations was that DEBT Box was trying to move its assets abroad by closing its bank accounts in June 2023. However, DEBT Box’s lawyers argued that this claim was not true and that in fact the bank accounts were closed on or before January 2023. Another allegation was that DEBT Box prevented investigators from viewing certain social media pages. However, given the SEC’s characterization of the investigations as “confidential”, this claim is also thought to be untrue. The fact that these allegations were false or misleading helped the SEC obtain a temporary restraining order (TRO) against DEBT Box. However, the TRO was dissolved in October.
Solana Dex Collector to AirDrop Jupiter
Solana DEX aggregator Jupiter has launched the first solicitations for the JUP token airdrop. The airdrop is designed to distribute four of the 10 billion JUPs, or 40% of the total supply, in four stages. In the first phase, one billion Jupiter tokens will be distributed to users who achieve a minimum exchange volume of $1,000 on the protocol by the snapshot date of November 2. 2% of the tokens will be allocated to all wallets and 7% will be allocated as a “tiered points-based distribution with points based on adjusted volume”. The other 1% will be allocated to community members and developers on Discord and Twitter. Jupiter founder Meow said the airdrop will reward power users and contributors significantly more and encourage everyone else to come back and engage. As of October, Jupiter enabled $35 billion in cumulative transaction volume, 80% of which came from 0.2% of all wallets.
Grasyscale Says When Bitcoin ETF Will Be Approved Is More Important
Digital asset manager Grayscale continues to say that the approval of the Bitcoin ETF is only a matter of time. According to a post on their blog, regulatory approval of a Spot Bitcoin ETF in the U.S. seems to place more emphasis on “when” rather than “if” it will be approved.
Zodia Custody Joins Global Crypto Storage Network Owned by Ripple
Zodia Custody, a cryptocurrency storage provider backed by Standard Chartered, has joined Ripple-owned custody specialist Metaco’s network designed to store and settle digital assets for institutions around the world. Crypto storage and settlement networks, where assets are held in custody to eliminate counterparty risk, are becoming more popular, especially after the collapse of some firms last year.
Amazon Managed Blockchain Access Adds Support for Polygon PoS
Amazon Managed Blockchain (AMB) Access, a fully managed service that provides access to public and private blockchains, is adding support for Polygon PoS to give developers a reliable, scalable and cost-effective way to build Web3 applications. AMB Access now supports both the Polygon PoS mainnet and the Mumbai testnet in public preview.
140 Million Dollars Liquidation After Bitcoin’s Strong Rise
With Bitcoin rising above $40,000, over $140 million was liquidated. This mainly affected short sellers, who lost over $110 million in 24 hours. This was the second largest amount of short liquidation since mid-November.
Bitcoin is priced at $ 40,700 with a 1.82% gain in value as of today morning hours. On the 4-hour chart, the ascending channel has now broken above and pricing above $40,000 is visible. In case of a pullback, we can now see the $ 40,200 – $ 40,000 range as support. In the continuation of the movement, an increase up to $ 42,000 can be seen, but it seems a little difficult to exceed $ 42,000 alone. Of course, there is a possibility of a breakthrough with news support.
ETH, which gained 1.12% as of morning hours, is priced at $ 2217. On the 4-hour chart, it was able to break the horizontal band upwards and is pricing above $2135, an important level. The first support position now seems to be between $2175 and $2150. In the continuation of the rise, rises up to $ 2450 can be seen.
XRP is priced at $0.6288 with a 0.93% gain as of morning hours. On the 4-hour chart, we have reached the resistance level. Although it moves a little slower than other alt coins, very rapid increases can be seen in case of any news. We can now identify the $0.60 level as a support position. If the breakout from the upward resistance zone occurs, rises up to $ 0.68 can be seen
AVAX is priced at $ 22.33 with a 1.73% gain in value as of morning hours. The horizontal channel seems to have formed. The $21.50 level, the middle part of the channel, could work as support. At the break of $ 24, an increase up to $ 27 can be seen. If the retreat deepens, a pullback to $19 could be seen.
SOL is priced at $64.90 with a 3.1% gain as of morning hours. SOL, which broke the resistance level of 61.50 upwards with the strong movement experienced at the weekend, has realized an increase up to the $ 65 region by providing permanence above this level. If this movement continues, the first resistance level is 66. Later, $ 70 can be followed as resistance. In case of a pullback, the short-term support zones of 64 and 60 dollars can be followed.
As of morning hours, LINK is pricing at 16.150 with a 2.80% gain in value. When we examine the four-hour chart, we see that the ascending triangle pattern is broken upwards and there is a movement up to the 16,300 level. As a resistance zone, the 16.600 region appears before us. Above this level, the $17 level can be tested. In case of a pullback, 15,700 and 15,000 levels can be followed as support.
AUDIO is priced at $ 0.2214 with a 16% gain in value as of morning hours. When we examine the daily chart, we see that the resistance zone of 0.2043 has been broken upwards. If the upward movement continues, the 0.2300 level can be followed as resistance. In case of a pullback, the 0.2150 level can be followed as support.
PNG is priced at $ 0.08304 with an 18% gain as of morning hours. When we examine the four-hour chart, we see that the downtrend has broken upwards and there is a strong movement. If this movement continues, the 0.08500 level can be followed as resistance and for the moment we see that there is a downward reaction from this region. If this level is broken upwards, we may see a rise up to the 0.09000 region. In case of a pullback, the 0.08000 region can be followed as support.