Bitwise Files for Registration for Spot XRP ETF
Bitwise has filed for its first spot XRP ETF in the US, but SEC approval is expected to face challenges. The SEC is in a legal battle with Ripple, accusing it of raising $1.3 billion through unregistered XRP sales. Meanwhile, Grayscale announced plans to launch a closed-end XRP fund aimed only at qualified investors. The SEC generally defines such products as exchange-traded products (ETPs) rather than exchange-traded funds (ETFs) because they fall outside the protections of the Investment Company Act of 1940.
Thousands of Applications Submitted for World Liberty Financial Whitelist
Donald Trump-backed crypto project World Liberty Financial announced that the number of whitelisted signups has reached “thousands” since launching on Monday morning. The project has introduced Know Your Customer (KYC) verification, with a separate whitelist for U.S.-based qualified investors and a separate whitelist for non-U.S. individuals. The project plans to issue a non-transferable governance token, WLFI, of which 63% will be sold to the public, 17% will be allocated to user rewards, and 20% will be allocated to team compensation. Critics have had mixed reactions, suggesting that Trump may be using the project opportunistically, despite not previously supporting crypto.
Chainlink Partners with Australian Bank ANZ on RWA Tokenization Initiative
Chainlink has partnered with Australia’s ANZ Bank to enable the secure exchange of tokenized real-world assets (RWA) as part of the Monetary Authority of Singapore’s (MAS) Project Guardian initiative. With this partnership, ANZ aims to provide broader access to tokenized assets and increase interoperability across blockchains. The initiative will support digital asset projects such as ANZ’s Australian dollar stablecoin A$DC. Despite the positive news, Chainlink’s native token LINK has not seen a price increase and is still down 77% from its all-time high.
Arbitrum One Surpasses 1 Billion Transactions
Arbitrum One has surpassed the 1 billion transaction threshold since its mainnet launch in August 2021, leading the way among Layer 2 networks. It also has a total value locked (TVL) of $14.3 billion, surpassing Base’s $7.32 billion and OP Mainnet’s $6.57 billion. Last month, stablecoin issuer Paxos announced plans to partner with Arbitrum One to integrate its products and bring more real-world assets to the blockchain. Paxos aims to increase stablecoin adoption by both individual and enterprise users over the next three years.
Taiwan Approves Foreign Crypto ETFs for Professional Investors
Taiwan’s Financial Supervisory Commission (FSC) has approved foreign crypto ETFs aimed at professional investors, providing institutional entities and high-net-worth individuals with broader access to global digital assets. The approval comes after extensive discussions with the Securities and Exchange Commission (SBA) and aims to ensure compliance and risk management. The re-trust process allows Taiwanese institutions to work with local financial asset managers to invest with foreign asset managers and provides greater regulatory oversight. The move positions Taiwan as a more proactive player in its approach to digital assets compared to cautious Asian markets such as Japan and South Korea.
Robinhood Introduces Crypto Transfers in Europe
Robinhood has launched crypto transfers in the European Union, allowing customers to deposit and withdraw over 20 cryptocurrencies, including Bitcoin, Ether, Solana, and USD Coin. The move comes after Robinhood launched in the EU in December and in line with the region’s upcoming Markets in Crypto-Assets (MiCA) regulations. The company aims to make it easier for users in Europe to store their assets and access DeFi. Other U.S.-based exchanges like Coinbase and Kraken are ramping up their operations in Europe following the MiCA. While Coinbase focuses on derivatives, Kraken acquired a German crypto provider to strengthen its presence in the region.
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BITCOIN (BTC)
BTC is priced at $61,570 with a 1.17% gain as of the morning hours. In the current situation, the breakout of the rising trend line indicates that the market is experiencing a loss of momentum and is moving into a downtrend. After this breakout, the price has remained below the middle resistance level at 63,000. The upper resistance level has been determined as 67,000 and the current price action is far from reaching this level. The middle support level to be considered in downward movements is 57,000 and if this level is broken, the probability of a pullback to the lower support level of 52,555 will increase. In general, the price remaining below 63,000 and the breaking of the rising trend indicate that the downtrend may continue.
ETHEREUM (ETH)
ETH is priced at $2486 with a 1.57% gain as of the morning hours. The rejection from the red zone resistance point at 2,680 shows that buyers remain weak and sellers take control. After this rejection, the price has fallen to the middle support point at 2,461.59. Staying below the middle support level indicates that the price may fall back to the deeper support levels of 2,338.99 and 2,168.07. In the event of an upward recovery, the price can be expected to test the red zone resistance at 2,680 again.
RIPPLE (XRP)
XRP is priced at $0.62 levels with a 0.70% gain as of the morning hours. After being rejected from the middle resistance point at 0.6200, the price has faced selling pressure and has fallen to the middle support point at 0.5900. A possible breakdown below this level could increase the risk of the price falling back to the lower support level of 0.5500 and the lowest support level of 0.5100. In the event of an upward recovery, the level of 0.6500 will be followed as a critical upper resistance after the resistance level of 0.6200.
AVALANCHE (AVAX)
AVAX is priced at $26.18 with a 0.81% gain as of the morning hours. The rejection from the upper resistance at 28.00 shows that buyers cannot find enough power and selling pressure has increased. After this pullback, the price has fallen to the middle support point at 24.69. Staying below this level indicates that the price may continue to fall towards deeper support levels of 22.82 and the lowest support level of 21.88. In upward movements, the price may be expected to test the level of 28.00 again.
SOLANA (SOL)
SOL is priced at $146.30 with a 0.80% increase in value as of the morning hours. It rose to $162. After being rejected from the middle resistance at 152.00, it has faced selling pressure and declined to the middle support point at 144.00. Staying below this level indicates that the price may continue to fall towards the lower support level of 134.00. In upward movements, if it is sustained above 152.00, a recovery towards the upper resistance level at 163.70 may be seen.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2648 with a 0.51% loss in value. Currently, the price has been rejected from the middle resistance at 2,650.53 and is in a decline towards the middle support point at 2,610.00 after this pullback. If the support at 2,610.00 is broken, there is a risk that the price will continue to fall to the lower support level of 2,483.48 and the lowest support level of 2,477.74. In the event of an upward recovery, exceeding the level of 2,650.53 could carry the price towards the upper resistance level of 2,700.00.
OUNCE SILVER
Silver is priced at $31.10 with a 1.08% gain as of the morning hours. It has been rejected from the middle resistance at 31,500 and is in a decline towards the middle support point at 30,500 after this pullback. The price is generally seen to be moving within an ascending channel, but this rejection from the resistance indicates that selling pressure has increased in the short term and that the lower support levels within the channel may be tested. If the 30,500 support is broken, the risk of the price falling to the 29,000 level, which corresponds to the channel support, may increase. In the event of an upward recovery, exceeding the 31,500 level may carry the price towards the upper resistance level of 32,000. Despite remaining within the ascending channel, this pullback from the resistance should be monitored carefully.
