FED July Minutes Published
The minutes of the Fed’s July meeting were released. Participants agreed to keep the policy rate in the current range. They indicated that they believed the upside risks to inflation had diminished. Most participants thought a 25 basis point cut in September would be appropriate. A few participants suggested that recent progress on inflation and the rise in unemployment could provide a plausible justification for a 25 basis point cut at the July meeting or that they would support such a move.
Kamala Harris’ Support for Digital Assets
Senior campaign adviser Brian Nelson said Vice President Kamala Harris plans to support policies that will help grow the digital asset industry. Harris’ team is reaching out to the crypto industry to learn more and address criticisms of the current administration’s regulatory approach. Crypto firms are heavily invested in political action committees, and some support Trump. Harris’ team said it is in the early stages of restructuring relationships with the industry.
Increased Activity on the TON Blockchain
The TON blockchain has seen a significant increase in active addresses on Masterchain, marking a seven-fold increase since July 2021. This growth indicates higher user engagement and an expanding ecosystem. This increase in activity is expected to increase demand for TON tokens, increasing their functionality and value. The network is notable for its affiliation with Telegram and the launch of several initiatives, such as the revenue sharing program and integration of Tether’s USDT into the TON network.
Tether Considers Launching Dirham-Pegged Stablecoin
Tether is planning to launch a stablecoin pegged to the UAE Dirham (AED), and it aims to strengthen the UAE’s financial ecosystem. The stablecoin pegged to the Dirham will be backed by liquid AED reserves, providing stability and trust for users. The initiative is expected to improve international trade, facilitate remittances, and provide a hedge against currency fluctuations. The move is supported by a conducive regulatory environment, as part of the growth of crypto adoption in the UAE.
Brazilian Regulator Approves Second Solana ETF
Brazil’s regulator has approved the second Solana ETF in the country that is leading the way in Solana adoption in Latin America. The fund, offered by Hashdex in partnership with BTG Pactual, is expected to launch soon. The approval highlights the growing interest in cryptocurrencies in Latin America due to economic and political concerns in the region. Despite setbacks in the US, Solana’s popularity continues to grow in Latin America, driving demand for crypto-based financial products.
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BITCOIN (BTC)
BTC is priced at $60,750 with a 0.67% loss in value as of the morning hours. An increase was made to the $61,800 level, but it could not be sustained here either. The $59,700 level is seen to be working as support for now. If the downward movement continues, $59,000 appears as a strong support position. The $62,500 region also appears as a strong resistance.
ETHEREUM (ETH)
ETH is priced at $2620 with a 0.37% loss in value as of the morning hours. There was an increase from $2150 to $2700. Permanence could not be achieved at this level. In pullbacks, $2400 seems strong after $2500. If a breakdown occurs below the $2400 level, pullbacks to $2200 may be seen. If $2780 is broken upwards, pricing up to $3000 may be seen.
RIPPLE (XRP)
XRP is priced at $0.6030 with a 0.52% increase in value as of the morning hours. Persistence above $0.60 will be quite positive. It rose to $0.65 due to the news, but permanence was not achieved. In pullbacks, a pullback to $0.58 may occur. In prices above $0.60, increases to $0.70 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $23.29 with a 1.02% loss in value as of the morning hours. It was able to rise from $17.30 to $22.83. It works as resistance between $23 and $24. In pullbacks, $20 and $18 appear as strong support areas. In prices above $23, an increase of up to $25 may be seen.
SOLANA (SOL)
SOL is priced at $142.47 with a 0.22% loss in value as of the morning hours. After the rise from $112 to $164, the pullback seems to have stopped. In case the pullback occurs again, $128 is a strong support. As for resistance, $158 seems strong for now.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2505 with a 0.30% loss in value. After the ATH was renewed, prices below $2500 were seen. $2535 is now our first resistance zone. If there is a break above this level, ATH can be renewed again. The range between $2500 and $2488 seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $29,492 with a 0.38% loss in value as of the morning hours. A 29.10 breakout occurred and a retest was given. In the continuation of the rise, an increase of up to $30.73 may occur. In pullbacks, 29 and 28.70 appear to be strong supports.
