FED Minutes Released
Members agreed that inflation was unacceptably high. Most participants noted that upside inflation risks still persist. All participants agreed that rates should remain restrictive for some time. The majority of members noted that downside risks to economic activity and upside risks to the unemployment rate persisted. Some respondents indicated that tight monetary policy could be maintained despite the interest rate freeze.
Stars Arena Signs Hacker
Stars Arena has reached an agreement with the hacker. In exchange for the settlement, 90 percent of the lost funds (240,000 AVAX) were returned. The hacker was awarded a total of 27,610 AVAX (250,000 dollars). After this agreement, no increase in the AVAX price has been observed for the time being.
Ether Could Reach $8,000 by the End of 2026, Standard Chartered Bank Says
According to Standard Chartered Bank, the price of ether (ETH), the native cryptocurrency of the Ethereum blockchain, could reach $8,000 by the end of 2026 from its current price of around $1,600. “We think Ethereum’s established dominance on smart contract platforms and emerging uses in gaming and tokenization have the potential to propel ETH to the $8,000 level by the end of 2026,” said Geoffrey Kendrick, head of Forex and crypto research at Standard Chartered Bank.
Ripple Attracts Institutional Investors in Dubai
Sologenic emphasizes that as an XRP Ledger-based platform, Ripple continues to attract institutional investors in Dubai. Despite the current SEC lawsuit, Ripple continues to pursue global expansion and is making a major foray into Dubai and the Middle East and North Africa (MENA) markets. In May this year, Ripple expanded its presence in Dubai by opening a new office in the Dubai International Financial Center.
European Securities and Markets Authority Publishes Report on DeFi
The European Securities and Markets Authority (ESMA) has published a paper addressing decentralized finance (DeFi) and its risks to the EU market. In a 22-page report, ESMA acknowledges the promised benefits of DeFi, namely greater financial inclusion, the development of innovative financial products, and increased speed, safety and cost of financial transactions. However, the report also highlights DeFi’s “significant risks”. The first, according to ESMA, is liquidity risk, which is linked to the highly speculative and volatile nature of many crypto assets.
Polygon Labs Proposes Layer 2 “ApeChain” to strengthen Ape Coin ecosystem
Sandeep Nailwal, co-founder of Polygon Labs, suggested that the Ape Coin DAO develop and maintain Ethereum Layer 2 using the Chain Development Kit (CDK). This proposal includes a private Layer 2 network called “Ape Chain” and a $3.35 million fund from the Ape Coin DAO treasury to support the growth of Ape Coin-related projects.
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BITCOIN(BTC)
Bitcoin is priced at $ 26,810 with a 0.24% depreciation as of today morning hours. Yesterday, it continued its downward movement by retesting the trend with the volume sales at noon. It seems to have found support in the 26.750 – 26.500 range, which it had previously been flat for a long time. Below these levels could take us first to 26,400 and then to 25,300. If the price provides persistence here, we are likely to see 27,000 first and then 27,500.
ETHEREUM(ETH)
ETH, which lost 0.43% as of morning hours, is priced at $ 1560. Despite the sale of Bitcoin yesterday, it was able to maintain its price. Although $1550 seems to be the first support, the range of 1535 and 1520 seems to be a stronger support. In pricing above 1570, the first target is to re-enter the horizontal band, i.e. to exceed the 1580 level. Then we are likely to see the $ 1660 level.
RIPPLE(XRP)
XRP is priced at $0.4833 with a 1.13% loss in value as of morning hours. After breaking below the horizontal band, it retests and continues to decline. Our first place of support looks like 0.4744 for now. If we enter the horizontal band again, we can first see the 0.5050 level and then 0.52 levels, which is the middle part of the horizontal band.
AVALANCHE(AVAX)
AVAX is priced at $ 9.16 with a 1.5% loss in value as of morning hours. After losing the $9.21 level, $9.05 will be our first support. With the reaction it will get from here, we can go to $ 9.40 levels again, but if downward selling pressures continue, we can fall to $ 8.80. AVAX is mostly working on fundamental analysis at the moment. The events at Stars Arena have had a big impact on the price of AVAX.
SOLANA(SOL)
SOL is priced at $ 21.68 with a 1.5% loss in value as of morning hours. After breaking down to $ 22, which we follow as a support level, selling pressure was seen in Solana. The first support level to follow is 21.20. With the downward break of the descending triangle pattern, it seems possible that the selling pressure may continue. In a possible bearish scenario, if support cannot be obtained from the 21.20 level, a retreat to the 20.40 level may be possible. In upward movements, the first point we will watch will be the $ 22 resistance.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 7.323 with a 0.93% loss in value. It will be important whether LINK, which is at 7.30, which we follow as an important support level, can maintain these levels. The first resistance point we will follow in upward movements will be 7.60. If we cannot see persistence above support, it seems possible that we may see a retreat to $ 7 levels.
MATIC
MATIC is pricing at 0.5122 with a loss of 0.47% as of morning hours. Continuing its downward movement, MATIC broke the 0.5260 support level yesterday and fell to 0.5100 levels. The first level that seems likely to receive a reaction is the support level at $0.5030. If it holds here, there is a possibility of a move upwards again. If that move comes, the level to be followed as resistance will be 0.5260 dollars. In the continuation of the decline, 0.4960 seems to be the critical level for MATIC.
