Consensys’ Lawsuit Against SEC Dismissed
A U.S. district judge has dismissed Consensys Software Inc.’s lawsuit against the SEC, finding the agency vindicated on several claims related to Ethereum and its MetaMask software. Judge Reed O’Connor ruled that Consensys’ claims in parts 1, 2, and 3 were invalid and dismissed the MetaMask claim for lack of subject matter jurisdiction, declaring that the SEC’s actions regarding MetaMask were not final. Consensys had filed a lawsuit with the SEC over the SEC’s classification of Ether as a security and received a Wells notice in April, but plans to continue its legal efforts in New York. The SEC did not immediately comment on the ruling.
Terraform Labs Gets Approval from U.S. Bankruptcy Judge
Terraform Labs has won approval from a U.S. bankruptcy court to close its operations, according to Reuters. The firm, known for its algorithmic stablecoin Terra, will pay between $184.5 million and $442.2 million to creditors. The move comes after Terraform reached a settlement with the SEC after being accused of defrauding investors in connection with the February 2023 UST crash. As part of the settlement reached in June, Terraform agreed to pay a $4.7 billion fine, and the SEC will collect its own debt once creditors are paid.
Solana’s Phone Features Revealed
Solana Mobile has introduced its second crypto-focused smartphone, the Seeker, which is set to launch in 2025. Announced at the Token2049 event in Singapore, the Seeker offers an improved wallet, increased security, and a free dApp store aimed at attracting crypto developers and gamers. Highlights include a dedicated Seed Vault that provides enhanced security for digital assets, a new wallet built with Solflare that makes crypto transactions seamless with just two clicks, a lighter, brighter design, improved camera, and longer battery life. Each device will come with a Seeker Genesis Token that provides exclusive rewards within the Solana ecosystem, and the free dApp store promises to attract developer interest by focusing on crypto-related apps.
Deus X Capital Announces DeFi Unit
Deus X Capital has introduced its DeFi unit, Solstice Labs, which will develop institutional-grade DeFi products that are open to all investors. The first project is a yield-generating protocol expected to launch on the Solana blockchain in early 2025 with over $100 million in total value locked (TVL). Solstice Labs aims to deliver stable and consistent returns by providing equal access to all users. The unit will work closely with Deus X Capital portfolio companies Cor Prime and Alpha Lab 40 to address leverage imbalances in the crypto market.
————————————————————————————————
BITCOIN (BTC)
BTC is priced at $63,854 with a 1.43% increase in value as of the morning hours. There was a rise to the middle of the horizontal band again. For the rise to continue, $64,000 needs to be broken upwards. In case of a breakout, an increase of up to $72,000 can occur. In case of a pullback, the $62,200 region is the first support.
ETHEREUM (ETH)
ETH is priced at $2550 with a 3.44% increase in value as of the morning hours. The rise continues after breaking $2466. In case of a break of 2600, a rise to $2700 may occur. In pullbacks, $2500 and $2466 are likely to act as support.
RIPPLE (XRP)
XRP is priced at $0.5910 with a 0.70% gain as of the morning hours. On the 4-hour chart, the price failed to break the 0.5900 resistance level and was rejected from this level. The 0.5900 – 0.6100 resistance zone has shown its effect. In the current situation, there is a possibility that the price may pull back towards the 0.5150 support level. If the 0.5150 level is broken, the price may continue to fall to the 0.5150 – 0.5350 support zone.
AVALANCHE (AVAX)
AVAX is priced at $28.13 with a 5.51% gain as of the morning hours. On the 4-hour chart, the price has broken through the 24.69 resistance level. The 24.00 – 25.00 range is now in support. In the current outlook, the price can be expected to fall to the 27 support level. If this level is broken, a deeper decline can be seen towards the 25 level and then the 20.00 – 21.00 support zone. In the continuation of the rise, $30 will be the first target.
SOLANA (SOL)
SOL is priced at $148.67 with a 4.02% increase in value as of the morning hours. Permanence above $140 has been achieved. There is a resistance level between $148 – $150. In case of a close above this area, a movement up to $163 may occur. In the pullback, $145 is the first support area.
OUNCE GOLD
The ounce of gold is priced at $2594 with a 0.29% increase in value as of the morning hours. In the 4-hour chart, ATH was renewed. The 2600 level was seen. There was a pullback to $2548, but there is an increase. The 2590 resistance level was broken. The target is to refresh ATH. $2580 seems suitable as support.
OUNCE SILVER
Silver is priced at $31.05, down 0.81% as of the morning hours. On the 4-hour chart, the price is trading just below the 31.057 resistance level and has reached the resistance area between 30.300 – 31.057. It is likely to encounter resistance at this level and pullback. In a possible pullback, the price is expected to fall towards the 30.300 and then 28.700 support levels. If the downtrend line is broken upwards, the rise will likely continue.
