CBOE Introduces Changes to Spot Ethereum ETFs
Cboe BZX filed 19-b4 amendments on five spot Ethereum ETFs on May 21, significantly increasing the likelihood of each fund being approved. Cboe BZX changes include filings from Fidelity, VanEck, Invesco/Galaxy, Ark Invest/21 Shares and Franklin Templeton. The closest application for the SEC to decide is VanEck’s spot Ethereum ETF application on May 23.
Spot Ethereum ETF Forecast from Standard Chartered
Standard Chartered stated in its statement that they think spot Ethereum ETFs will be approved this week. According to the deadlines, the closest applications are those of VanEck on May 23 and Ark Invest/21Shares on May 24. Additionally, they announced that they expect an inflow of 15 to 45 billion dollars in the first 12 months if the applications are approved.
RWA Partnership Between Chainlink and Arta TechFin
On May 21, Chainlink announced that it was expanding its partnership with Arta TechFin, a Hong Kong-based asset manager and financial services company, to include real-world assets on-chain. Eddie Lau, CEO of Arta TechFin, said that this partnership ‘aims to address the market shortage for an end-to-end solution that addresses pain points from off-chain primary sourcing and secondary trading to improved product integrity.’
Uniswap Labs Denies Cryptos Are Securities in SEC Response
Uniswap Labs, the creator of the largest decentralized trading platform on Ethereum, said a potential enforcement action filed against it by the US Securities and Exchange Commission has no merit because crypto tokens are not securities. “The SEC’s entire case is based on the false assumption that all tokens are securities,” Uniswap Labs chief legal officer Marvin Ammori said in a Zoom press conference on Tuesday. said.
Trump Will Accept Cryptos in His Campaign
Republican presidential candidate Donald Trump announced that he will accept political donations in cryptocurrencies such as Bitcoin, Ethereum, Solana, Dogecoin and Shiba Inu for his 2024 campaign. His campaign has launched a donations page through its Coinbase Commerce product that allows federally permitted donors to contribute cryptocurrencies. Trump became the first major party presidential candidate to accept cryptocurrency donations.
Solana Wallet Phantom Acquires Bitski Wallet Platform
Solana wallet Phantom has acquired wallet service platform Bitski, which is backed by major investors such as Andreessen Horowitz and Galaxy Digital. With this acquisition, the Bitski team will join Phantom to simplify wallet integration for Solana users and developers. Bitski’s existing products will be phased out soon and users will be notified. The Bitski team, including Bitski’s founders, will join the Phantom team, which has over 80 employees. Although financial terms were not disclosed, Bitski has raised $25.5 million to date. Phantom, on the other hand, raised $118 million in funding and was valued at $1.2 billion in early 2022.
Ethereum Futures Open Interest Reached a Record
Open positions in Ethereum futures on central exchanges rose to a record level of $14 billion. This represents an increase of more than 40% since it was around $10 billion in early 2024. Open positions reflect the total value of all futures contracts and indicate market activity and trader sentiment around a particular asset.
Kronos Research Hacker Transferred $3.7 Million to Tornado Cash
The hacker behind the $25 million Kronos Research attack transferred $2.6 million worth of Ethereum to Tornado Cash in one step of the attack. This transfer took place on May 21 from the Kronos attacker wallet numbered ‘0x3’, according to an X post from on-chain security firm PeckShield. The attacker initiated three transactions worth 100 ETH each on May 20 and processed seven additional transactions of the same amount today. These transactions, representing a total value of over 1,000 ETH, were worth over $3.7 million at today’s prices.
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BITCOIN (BTC)
BTC is priced at $69,900 with a 0.35% loss of value as of the morning hours. After the retest below the horizontal band, the middle part of the horizontal band, that is, the $66,500 level, was tested. With the upward break of this level, there was a rise up to $ 71,000, which is the upper part of the horizontal band. We may now start to see retreats from this region. $67,500 appears strong as the first support zone. If a close above $72,000 is achieved, increases up to $74,000 may be seen. Currently, the withdrawal from $ 72,000 continues.
ETHEREUM (ETH)
ETH is priced at $3764 with a 0.66% loss in value as of the morning hours. After the upper part of the horizontal band was broken and following the ETF developments, there was a rise to $ 3840. This region appears as a major resistance area. If there is a downward reaction from here, a withdrawal may occur up to $3650. If the $3800 region breaks upwards, we may see a rise up to $4000.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5334 with a 0.67% loss 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. Yesterday, it was rejected again in the $0.5575 area, which is the major resistance.
AVALANCHE (AVAX)
AVAX is priced at $40.97 with a 0.56% loss in value as of the morning hours. There was a horizontal line between $40 and $31, which was broken upwards. It seems that stability above $ 40 has been achieved. A rise up to $45 can be seen. As the first support, $ 39.76 seems strong for now. The only resistance area currently appears to be $45.
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 level, 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 $16,400 region appears as support. In upward movements, 16,700 and 17 dollars levels can be followed as resistance.
NEAR
NEAR is priced at $7,859 with a 0.52% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $7,600-7,700 area is an important support zone. If there is persistence above this region and the upward movement continues, the $8 region appears as resistance. If the resistance zone is crossed, the area with the falling trend line can be followed as resistance.
ARB
ARB is priced at $1.1770 with a 2.24% depreciation as of the morning hours. When we examine the hourly chart, we see that it looks like a descending triangle formation. The support zone of this formation appears as 1.1690. In upward movements, if the falling trend line is broken, the $ 1.22 region can be tested.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2414 dollars with a 0.31% loss in value. When we examine the four-hour chart, we see that there is permanence above the $ 2400 level. We saw it working as resistance at the $2450 level. The new ATH level was renewed with the support it received from $ 2380. The first support level appears to be $2400.
OUNCE OF SILVER
As of the morning hours, silver is priced at $ 31.73 with a 0.82% loss in value. When we examine the hourly chart, we see that there is a horizontal movement between the $31.20 and $32.40 levels. These two levels can be followed as main support and resistance zones. In upward movements, the $ 32.15 region appears as a short-term resistance area.
