Hacking Incident on Crypto Betting Platform
Suspicious outflows from the betting platform Stake attracted attention. With the exits made with two different transactions, a total theft of 41 million dollars was realized. Analysts believe that these anomalous transactions may be due to a vulnerability affecting the platform’s wallet addresses. While Stake has not yet made a statement on the issue, it was learned that the platform temporarily cut deposit-withdrawal transactions.
Outflows Continue in Digital Asset Funds
According to Coinshares, digital asset funds also saw outflows last week despite the Grayscale news. Thus, there was a total outflow of 342 million dollars in the last 7 weeks. Despite last week’s outflows of $11.2 million, trade volumes were well above average at around $2.8 billion. This level has been above 90% of the weeks on average since the beginning of the year. Polygon and Ethereum funds also saw large outflows, while Solana side 9. had a positive week for the week in a row.
DYDX Token Will Be the Native Token of the dYdX Chain
The DYDX community voted on the transition from dYdX to version 4, the transition to the DYDX Layer 1 token for the newly planned blockchain. The voting result showed that the community supported the transition by 100%. In total, 36 million votes were cast from 392 addresses and only 43 votes were negative. In line with the voting decision, the project is preparing to move the DYDX token from Ethereum to a Layer 1 application chain in the Cosmos ecosystem (currently on testnet).
MakerDAO Statement by Solana Founder
Yesterday, the events between Maker-Ethereum-Solana caused significant movements in the market. After the MakerDAO founder’s praise of Solana, Vitalik Buterin’s MKR sale caused the price to fall below 1100. Maker’s choice on this Endgame was considered a win for Solana. Yesterday, Anatoly Yakovenko, one of the founders of Solana, also made important statements. Yakovenko said that Ethereum is a great thing and that Solana was not created in a vacuum and that much of what makes it special was created through Ethereum R&D.
New Record for Stock Market Exits
Bitcoins have been withdrawn from exchanges for some time. While it was seen that investors started to withdraw their assets with the litigation processes at the beginning of June, we see that this withdrawal process continues. In this environment where exits from the stock markets are actually considered positive, the low volume of purchases causes the price to fall further. It is stated that for the first time in Bitcoin’s history, it has been seen exiting the exchanges for three consecutive months.
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BITCOIN(BTC)
Bitcoin is priced at $ 25,700 with a 0.49% loss in value as of today morning hours. We see that the beginning of the week in Bitcoin continues with a horizontal movement. In addition to the softening of the agenda, both the macroeconomic intensity decreased and the US stock markets were closed on Monday, allowing the inactivity in Bitcoin to continue. In Bitcoin, which we can say that it sees support from the 25,800 region for now, we see that the 25,200 level is critical in case of a breakout and that this region has remained strong in recent tests. In case of arrival in this region, trials can be made regardless of maturity. However, if the decline continues and we see the break of the 24,800-25,200 range, it would be better to stop and wait for a return above 25,200. At the same time, we may see some selling pressure in crypto assets before the inflation data next week.
ETHEREUM(ETH)
ETH, which lost 0.48% as of morning hours, is priced at $ 1622. Although we started the week at 1640 levels in Ethereum, the weak selling movement throughout the day on Monday caused the price to return to 1620 support. We can say that we can see breakouts in this period when the volume remains so weak, the target will be 1580 in the downward breakout, and in the upward movement, we should expect 1660 and then 1690 levels.
RIPPLE(XRP)
XRP is priced at $0.574 as of morning hours, down 0.26%. In this period of horizontal movement in XRP, we see that the price reached the 200-day moving average again after the weekend and is trying to break this zone for now. If a breakout comes in XRP, we can say that the next target will be 0.56.
AVALANCHE(AVAX)
AVAX is priced at $ 9.76 as of morning hours, down 0.41%. AVAX continues to fall slowly after breaking the $9.90-10 zone. We can say that if this level is broken in AVAX, which managed to return to the previous low level of 9.75, we can say that we may face pullbacks up to 9.30.
SOLANA(SOL)
SOL is priced at 19.27 with a 1.28% depreciation as of morning hours. On Solana, we see that we failed to stay above 19.70 and the price retreated to the $19 support. We see that Solana, which has seen a reaction from here for now, does not give a very strong image, although there is some increase in Solana. If Solana rises to 19.60, it may face selling pressure from here.
CHAINLINK(LINK)
LINK, which gained 0.62% as of morning hours, is priced at 5.976. With the retracement seen in the market in LINK, we see that it has fallen below the $ 6 level again. We can say that if the retracement continues, the price may see support from 5.85, but already after 5.90, a nice volume of buyers has entered.
MAKER(MKR)
MKR is pricing at $ 1132, up 1.25% as of morning hours. In MKR, we see that after the retracement with the news yesterday, the price first hit the 1140 resistance and retreated a little, and then rose to the same level again and tested it upwards. If the breakout comes, we can say that the new target in MKR will be 1180, but if it retreats from here, the 1090 level will be critical.
