FED Rate Decision to be Announced, USDC Available on Polkadot, LINK and MKR Continue Rising

US Interest Rate Decision to be Announced Today

After a 2-month break following the July meeting, the US Federal Reserve (FED) meeting will take place today and the interest rate decision will be announced afterwards. The FED is expected to keep interest rates unchanged at 5.50%. Markets are focused on the press conference and Q&A session of FED Chairman Jerome Powell after the interest rate decision. Powell’s statements about future meetings or the changes seen in the 2-month period after the incoming data may cause significant movements in the market.

Circle Launches USDC on Polkadot Network

Circle, the issuer of USDC, the second largest stablecoin by market capitalization, has made USDC available on Polkadot. Polkadot-based Centrifuge has integrated HydraDX and Moonbeam USDC. Circle announced that USDC was created on the Polkadot Asset Hub, the asset issuance system called the system parachain, while the stablecoin will be sent to other parachains via the XCM protocol.

Grayscale Files for a New ETH Futures ETF

Grayscale Investments announced that it has filed with the US Securities and Exchange Commission (SEC) for a new ETF that will track the performance of Ethereum futures. The SEC had previously approved Bitcoin futures ETF applications under both laws.

Coinbase Pay Adds Aptos Wallet

Aptos announced that Coinbase Pay users will be able to seamlessly APT their Aptos wallets to Petra via debit, debit card, credit card and even Coinbase account balances.

PayPal Announces the Market Value of its stablecoin PYUSD

Paypal published its first report on PYUSD, the stablecoin it launched last month. According to the report, PYUSD’s market capitalization is currently $43.8M. This is far behind the market capitalization of the market leader USDT ($80B).

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BITCOIN(BTC)

Bitcoin is priced at $ 27,095 with a 0.08% gain in value as of today morning hours. Bitcoin, which managed to stay above the $ 27,000 level, managed to remain strong above expectations, even though its volatility remained lower than expected before 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.

ETHEREUM(ETH)

ETH, which lost 0.37% as of morning hours, is priced at $ 1637. In Ethereum, we see that the pricing between 1600-1670 continues on the 4-hour chart. Ethereum, which retreated to the 1620 level after the last test of the 1670 level, sees support from here for now. If the downward movement in Ethereum continues, the price should be paid attention to the levels of 1620 and then 1600 dollars.

RIPPLE(XRP)

XRP is priced at $0.5205 with a 1.26% gain as of morning hours. In XRP, we see that the 4-hour horizontal resistance level of 0.51 has broken upwards and we are back to the horizontal movement between 0.51-0.55. 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 $ 9.11 with a 1.09% loss in value as of morning hours. AVAX has reached the end of its downtrend, and the 9 million tokens that will be unlocked in the coming days are creating intense selling pressure. 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 19.92 with a loss of 0.60% as of morning hours. The $20 resistance seen at the end of the upward movement in Solana was tested several times yesterday but was not broken and the price remained below $20 again. Although Solana has broken the impact of FTX news with its positive performance on the NFT side, which is preferred by institutional investors, the selling pressure stemming from the pre-FED market uncertainty is causing Solana to fail to break the $20 levels.

CHAINLINK(LINK)

LINK, which gained 1.46% as of morning hours, is priced at 6.945. We see that the 6.75-6.90 zone, which we see as a critical resistance level in LINK, has broken upwards. If it realizes its daily closes above this zone, we can see that the positive movement continues in LINK. At the same time, we can say that the resistance level of the long descending movement is at 7.10 levels.

MAKER(MKR)

MKR is pricing at $ 1264, up 2.10% as of morning hours. In MKR, we see that the flag formation continues to rise by breaking upwards. Although there is a small selling pressure at the $ 1300 level, we can say that the formation target has reached 1360 levels and may face selling pressure before reaching this region.

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