Ethereum Foundation Sold $2.78 Million Ethereum
The Ethereum Foundation has raised eyebrows by selling approximately $2.78 million worth of Ethereum (ETH). At around 11:20 a.m. on October 9, the Ethereum Foundation sold 1,700 ETH for 2.738 million USD Coin (USDC) through the decentralized finance platform Uniswap (UNI), according to data provided by the on-chain analytics platform. The foundation transferred the USDCs it received in exchange for Ethereum to the Ethereum-based ecosystem platform Gnosis Safe. This particular wallet had been dormant for about 2 years.
Deribit Lists XRP, SOL and MATIC Options
In a strategic move amid a slow crypto market, Deribit, the world’s leading cryptocurrency options exchange, announced it will launch options trading for XRP and Solana (SOL) in January, according to Bloomberg. Deribit currently dominates the crypto options market with a market share of 85% and is also keen to diversify into crypto assets other than Bitcoin and Ethereum.
Ripple Chief Financial Officer Resigns Over SEC Lawsuit
Ripple’s Chief Financial Officer Kristina Campbell has left the company after nearly two and a half years. Campbell’s LinkedIn profile shows that he no longer works at Ripple and instead started working as CFO at Maven Clinic, a digital healthcare provider, as of this month. The Harvard-educated executive had worked in the financial services industry for several years before joining Ripple in April 2021.
Chinese Communist Party Newspaper NFT Launches
China Daily, an English-language newspaper owned by the Chinese Communist Party Publicity Department, wants to create its own metaverse and non-fungible token (NFT) platform. According to a recent announcement, China Daily will award 2.813 million Yuan ($390,000) to a third-party contractor who can design the NFT platform within its budget specifications. China Daily said the contractor could be a “Chinese or foreign” firm specializing in blockchain.
Another Warning from FCA to Unregistered Crypto Firms
The UK’s Financial Conduct Authority has targeted 146 crypto companies in a new warning following the introduction of new promotional rules requiring companies to register with the FCA. The warning, the first since the rules came into force, is the latest in a series of initiatives by the FCA to crack down on illegal financial promotions targeting UK customers. As part of the warning, the FCA published a warning list of those who have not registered with the FCA. The list includes KuCoin and Huobi, among others.
Crypto Aid to Israel
Local leaders in the cryptocurrency space, Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, Israel Blockchain Association, and Bits of Gold have joined together to establish Crypto Aid Israel, a global relief campaign to help displaced Israeli citizens in need of humanitarian aid. Crypto Aid Israel hosts a multi-signature wallet overseen by prominent figures in the local Web 3 community.
Bitcoin is priced at $ 27,587 with a 0.02% loss in value as of today morning hours. Yesterday, after a high volume of selling pressure, it managed to hold above the 27,500 level again. While the state of war should actually have a positive effect on risky assets, as we have seen in the past, Bitcoin experienced a reverse decline. The Ethereum Foundation also saw a drop on top of the sales, but the price has managed to hold its own for now. If we maintain above 27,500, we are likely to see 28,500s. Our lower support level seems to be 27,200 first.
ETH, which gained 0.17% as of morning hours, is priced at $ 1582. Ethereum has entered the horizontal band again, although it also fell below the horizontal band after the Ethereum Foundation’s sales yesterday. The first target after that is likely to be the middle of the horizontal band, i.e. the 1660s, followed by the $1750 level, which is above the horizontal band. In the event that it sags below the horizontal band again, this time we can see the $1520 level.
XRP is priced at $0.4970 with a 1.13% loss in value as of morning hours. Ripple is pricing below 0.50 after the drop in the general market. For the moment, it has found support between 0.50 – 0.49 dollars. If it loses the 0.49 level, it may test the 0.488 level again, then it may go down to 0.475 this time. If it stays above 0.50, 0.505 may appear as the first resistance, then 0.5190 will appear as the next resistance.
AVAX is priced at $ 9.61 with a 0.79% gain as of morning hours. It had managed to climb as high as $11.87 over the weekend with the correction notices in Stars Arena, but with the general decline in the market, AVAX also lost some important levels. At $9.40, it seems to have received a reaction for now. 9.65 dollars may appear as resistance. If there is a reaction at 9.65, this time we can go down to 9.2s. If it persists above $9.8, the first place of resistance is likely to be the $10 level. Above these levels would be very positive for AVAX.
SOL is priced at $ 22.05 with a 0.23% loss in value as of morning hours. SOL, which rose up to $ 25 last week, retreated to $ 22.60 when it could not provide permanence at this level. With the downward break of the descending triangle formation we mentioned, SOL, which retreated to the $ 22 support level, is trying to hold on at this point. If we cannot see persistence at the $ 22 level, it seems possible to test the support levels of 21.20 and 20.40 below it. It is also possible to follow the 22.60 level as a resistance level.
As of morning hours, LINK is pricing at 7.278 with a gain of 0.01%. LINK, which is trying to hold on to the $ 7.30 level we mentioned, may retreat to 6.95 below these levels. With the break of the uptrend on the 4-hour chart, it seems possible that we may see a downward movement. If it holds at $7.30, the first resistance point we will follow will be $7.60.
MATIC is pricing at 0.5288 with a loss of 0.13% as of morning hours. MATIC, which broke the 0.5450 support level down with the sell-off we saw in the market yesterday, is trying to hold in this region after touching the support point at 0.5260. If it can provide persistence in this region, it may be possible to test the 0.5450 level again. If the selling pressure in the market continues, it seems possible to retreat to 0.5030 levels.