Fed Announces Rate Decision, Powell’s Hawkish Speech, Maker Continues to Rise

FED Announces Interest Rate Decision

The US Federal Reserve announced its interest rate decision yesterday evening. At the September meeting, the first meeting in 2 months after the July meeting, the FED kept interest rates unchanged at 5.50%, as expected. Speaking after the announcement of the interest rate decision, Fed Chair Powell said that there is a long way to go for inflation targets, adding that there is still a strong but balanced picture in the labor market. He said that they kept interest rates unchanged in order to get a better picture of the current state of this pause and that they were ready to raise rates further if deemed appropriate.

Algorand Foundation Announces Build-A-Bull Hackathon in Collaboration with AWS

The Algorand Foundation and Amazon Web Services (AWS) announced that it will organize a hackathon called “Build-A-Bull” in late 2023 to develop new applications on the Algorand blockchain. The hackathon will take place online from December 20-22 and will provide participants with information and training on the Algorand blockchain and AWS services. The focus of the Buil-A-Bull Hackathon will be on developing new applications on the Algorand blockchain. Participants will be able to work on smart contracts, decentralized applications (DApps) and other blockchain-based solutions. AWS services will help participants develop and scale their projects

Arbitrum Blockchain Investors Will Now Be Protected Against Permanent Losses

Arbitrum has launched a new feature to help protect arbitrage trading users from temporary loss. This feature allows users to estimate their losses before closing their arbitrage positions and act accordingly. Arbitrum’s new feature uses an algorithm to help users estimate the value of arbitrage positions. The algorithm analyzes historical data of asset prices on the two exchanges and calculates the possible amount of loss of the position. Using these predictions, users can decide whether to close their positions or not.

Ripple Moves 75 Million Tokens

Ripple transferred 58 million of the 75 million XRP it had previously unlocked to exchanges for possible sale. As it is known, Ripple performs an intense XRP unlocking and subsequent XRP locking every month with its escrow system. Most of the 1 billion XRP unlock on September 1 was re-locked and the remaining amount was transferred by the company to exchanges to cover expenses.

dYdX v4 Integrated with Squid and Axelar

dYdX has partnered with Squid and Axelar to integrate the v4 platform into the Cosmos ecosystem. This partnership will allow users to transact on any of Cosmos’ appchains.

Squid is Cosmos’ cross-chain communication protocol. Axelar is Cosmos’ bridge network that connects liquidity and users across different chains. Through this partnership, dYdX will have access to Cosmos’ large user base and liquidity. It will also be able to offer the ease and efficiency of trading on Cosmos’ different chains.

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BITCOIN(BTC)

Bitcoin is priced at $ 27,060 with a 0.22% gain in value as of today morning hours. Bitcoin, which managed to maintain its permanence above the 27,000 level, managed to remain strong above expectations, even though its volatility remained lower than expected after the FED meeting. We can say that the price movements in crypto assets, where the volume is slowly returning to the market, are slowly recovering and if this continues, we can return to the uptrend with positive data and news flows, and we can say that it is necessary to watch the continuation of a little stronger price movements in order to make an assessment that the image is positive. In order to have a positive outlook, we first need to see a permanent break of the $ 28,000 level. In any bearish scenario, we can see that 26,600 and then 26,300 levels can work as support.

ETHEREUM(ETH)

ETH, which lost 0.06% as of morning hours, is priced at $ 1623. In Ethereum, we see that the pricing between 1600-1670 continues on the 4-hour chart. Ethereum, which retreated to 1605 after its last test at 1670, is now seeing support from here for now. If the downward movement in Ethereum continues, the price should be paid attention to the levels of 1600 and then 1580 dollars.

RIPPLE(XRP)

XRP is priced at $0.5152 with a 1.15% loss in value as of morning hours. In XRP, we see that the 0.51 level, which was the horizontal resistance level in 4 hours, is working as support and the horizontal movement between 0.51-0.55 is back. The next resistance levels in Ripple seem to be 0.53 and then 0.55 levels, while 0.51 and 0.4950 levels will work as support in retreats.

AVALANCHE(AVAX)

AVAX is priced at $ 9.05 with a 0.1% loss in value as of morning hours. AVAX has reached the end of the descending movement. We see 9 million tokens creating intense selling pressure. After the token launch, we saw the price bounce back from 8.86 levels. In the event that the support zone we see in the 9.00-9.10 range is broken downwards, we see that our next long-term support level in Avax is in the $ 7 region. In case of an upward movement, we will be targeting 9.40 levels in Avax.

SOLANA(SOL)

SOL is pricing at 19.97 with a 1.58% depreciation as of morning hours. The $20.50 resistance seen at the end of the upward movement in Solana was not broken, despite being tested several times yesterday, and the price remained below $20 again. Although Solana is preferred by institutional investors and at the same time, it has broken the impact of FTX news with its positive performance on the NFT side, it causes Solana to be unable to break the $ 20 levels.

CHAINLINK(LINK)

LINK, which lost 1.10% as of morning hours, is priced at 6.829. After the break of the horizontal band in LINK, we see that it was rejected at the $ 7 level. In case of retesting to the horizontal band again, there is a possibility that the $ 6.50 level will work as support. After the 7 dollar level is exceeded, our first resistance level will be 7.30 levels.

What is Airdrop?

Airdrop, one of the rapidly growing and interesting applications of the cryptocurrency world, means distributing free crypto money to users.

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