BlackRock Files S-1 Application with SEC for Spot ETH ETF
BlackRock is advancing plans for a possible spot Ethereum ETF. BlackRock, which recently applied for the listing of its spot Ethereum ETF on Nasdaq, filed an S-1 with the SEC yesterday. S-1, a registration statement filed with the SEC, states that the proposed ETF is intended to reflect the performance of the price of Ether.
SEC Decision to Postpone Hasdex’s Application
The US Securities and Exchange Commission (SEC) delayed HashDex’s application to convert its existing Bitcoin futures ETF into a spot ETF. Prior to the announcement of the final decision on ARK’s Spot ETF application, 3 more applications for the Spot BTC ETF were expected to be evaluated. Some analysts wrote that a positive turn could be taken in the evaluation of the next 3 applications between November 17-21 and that all applications could be approved early, and cryptocurrencies were positively affected by these developments and realized a significant price movement. In yesterday’s news, the SEC postponed its initial consideration of the Hashdex application. Following the postponement, the market expectation was that the other two applications would also be postponed and the ETFs would be accepted on January 11, the deadline for consideration of ARK’s application.
Tether Investing in Bitcoin Mining
Tether is planning a large-scale expansion of Bitcoin mining. The firm announced that it could spend around $500 million over the next six months on the construction of mining facilities and investment in other miners. Mining facilities are planned in Uruguay, Paraguay and El Salvador.
Polygon Gas Rates Increase by More Than 1000
Gas fees on the Ethereum Layer 2 platform Polygon (MATIC) increased by more than 1000% to reach a historic high of $0.10. This is thought to be due to users’ intense interest in the network with the minting of Ordinals-inspired tokens called POLS.
German MP Initiative for Bitcoin Legalization
German MP Joana Cotar has begun spearheading an initiative to have Bitcoin accepted as a legal means of payment in the country. In this initiative, Cotar emphasized the need for legal security for both businesses and individuals, while also addressing potential risks such as money laundering, tax evasion and other illegal activities associated with Bitcoin.
Aave Companies Rebranded as Avara
Blockchain technology firm Aave Companies has rebranded as Avara and announced the acquisition of a Los Angeles-based web3 startup. The move marks Avara’s second acquisition, following the acquisition of Sonar, a web3 social gaming app, on December 5, 2022.
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BITCOIN(BTC)
Bitcoin is priced at $ 36,298 with a 0.37% gain in value as of today morning hours. Yesterday, there was a market-wide decline and BTC fell as low as 35,500. When we examine the four-hour chart, we see that the reaction point is at the bottom of the channel we follow and at the 35,500 support level. These levels seem critical for BTC, which is currently at the channel mid-band level. With the upside break of this mid-band level, a rise towards the upper level of the channel can be seen again. If the decline continues, a decline towards the 35,500 level may be possible again.
ETHEREUM(ETH)
ETH, which lost 0.76% as of morning hours, is priced at $ 1977. We see that Ethereum, which fell to the 1970 level with yesterday’s decline, received support from this level. For the continuation of the upward movement, it seems critical to maintain a permanence above $ 2000. With the crossing of this level, 2035 can be monitored as a resistance level. With a downward break of the support level, there may be a retracement towards the 1920 level.
RIPPLE(XRP)
XRP is priced at $0.6211 with a 1.50% gain as of morning hours. XRP, which tested the 0.6168 support level with yesterday’s decline, is currently trading above this level. If the upward reactions continue, the 0.6450 region can be followed as resistance. With a downward break of the support level, there may be a retracement towards 0.60.
AVALANCHE(AVAX)
AVAX is priced at $ 23.42 with a 7.92% gain in value as of morning hours. When we examine the hourly chart, we see that the rise reached 24.70 with the break of the 21.47 resistance level. We are watching some retracement from this region with selling pressure. If the retreat continues, the $ 22 level can be followed as support. In order for the upward movement to continue, it seems important to break the $ 24 resistance level.
SOLANA(SOL)
SOL is priced at $ 59.09 with a 2.13% gain as of morning hours. Rising up to 68 levels, SOL fell as low as 57.50 with the retreat and received some reaction from this region. The $60 resistance zone seems to be important for this movement to continue. Above the resistance zone, we can see a movement towards the 61.70 region. 57.50 is the critical support level. Below this zone, the retreat may continue towards 55.60.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 13.970 with a 0.80% gain in value. When we analyze the hourly chart, we see that the 15,215 level is an important resistance point. With the failure to pass this level, selling pressure increased and there was a retreat towards 13,700 levels. 15,215 and 13,700 are important resistance and support levels. For the continuation of the rise, persistence above the 14 level in the first place may be important for LINK.
NEAR
NEAR is priced at 1.865 with a gain of 8.43% as of morning hours. When we analyze the daily chart, we see that the resistance zone of 1,700-1,730 is broken upwards. Resistance levels for NEAR, which exhibits a strong movement, are 1,960 and 2,000. In case of a pullback, the 1.800 region can be followed as support.
FET
FET is priced at $ 0.4652 with a 7.42% gain in value as of morning hours. When we examine the daily chart, we see that the 0.4500 resistance level was broken upwards. If this movement continues, 0.4870 can be followed as the resistance level. In case of a pullback, the broken resistance zone of 0.4500 can be followed as support.
