First Entry to Grayscale Spot Bitcoin ETF
According to May 3 data, GBTC experienced money inflow for the first time, ending the 82-day money outflow series. When we examine the details, there was a money inflow of 63 million dollars in GBTC on May 3. Since January 11, when Spot Bitcoin ETFs started trading, there has been an outflow of $17.46 billion on the GBTC side.
Growth in the Polkadot Ecosystem in the First Quarter
According to the Messari report, the Polkadot ecosystem recorded massive growth in key data in the first quarter of the year. During this period, DOT’s market value increased from $8.4 billion recorded in the last quarter of 2023 to $12.7 billion. Additionally, Polkadot’s ecosystem experienced a surge in daily active addresses, reaching an all-time high of 514,000. This represents a 48% increase from quarter to quarter and a 192% increase within six months.
Partnership Between Chainlink and Rapid Addition
Chainlink announced that it has partnered with FIX connectivity solutions firm Rapid Addition to create a FIX-specific adapter aimed at improving institutional digital asset trading. This initiative leverages Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which is designed to facilitate various applications such as token transfers and DeFi.
Vodafone Plans to Integrate Crypto Wallets with SIM Cards
Vodafone, a UK-based telecommunications provider, has announced plans to bring blockchain technology to smartphone users by integrating cryptocurrency wallets with their SIM cards.
Bitcoin Surpasses 1 Billion Transactions
Exactly 800 weeks since January 2009, the number of transactions in Bitcoin after the launch of the initial block has exceeded 1 billion. New protocols such as Bitcoin Ordinals and Runes have contributed greatly to the number of transactions. Ethereum, on the other hand, has already surpassed 2.4 billion transactions in the number of transactions.
Ethereum Transaction Volume Broke a Record
With the help of stablecoins, Ethereum saw record volume. There was an increase in volume for the last 3 consecutive months, and a record was broken in terms of volume in April. Most of the volume consisted of DAI. DAI has become more involved in MEV transactions using flash loans. For this reason, there was a huge increase in volume.
Maker Releases 2 New Products
Maker is releasing 2 new products called NewStable and NewGovToken. NewStable (NST) is the codename for a version of Dai that has been developed and strengthened with stability features to encourage more widespread adoption. NewGovToken (NGT) offers a more sophisticated approach to governance in the ecosystem, encouraging broader participation and supporting more dynamic decision-making processes.
Size Record Broken in Bitcoin Ordinals
Bitcoin Ordinals and Runes platform OrdinalsBot has introduced the largest Ordinals inscription ever created. This inscription, numbered 70,614,708, announced on Friday, was 3,969 megabytes in size. It contains a copy of a Cyberspace Declaration of Independence written by Logos Network.
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BITCOIN (BTC)
BTC is priced at $64,231 with a 0.33% gain in value as of the morning hours. The rise continues after gaining support at $56,600. $60,800 was earned again. It is now a region that can work as support. $66,800 is a critical region, and in case of a break above it, increases may be seen up to $72,800. If there is a rejection at $66,800, a withdrawal may occur again up to $60,800.
ETHEREUM (ETH)
ETH is priced at $3163 with a 0.86% gain in value as of the morning hours. The rise continues after receiving support at $2820. After permanence above $3050 was achieved, $3100 was also exceeded. The $3150 region is the middle part of the horizontal band. For this reason, resistance may be encountered. In case of rejection, $3050 may act as support. If there is a breakout, there may be an increase up to $3380.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5346 with a 0.94% gain in value. There is a horizontal channel between $0.46 and $0.55. There was a wick movement to the $0.48 level, but it could not be permanent. $0.50 is a critical level, and if it closes below this level, there may be a drop to $0.48. $0.50 worked as support. Areas that may be resistance include $0.55 and $0.58.
AVALANCHE (AVAX)
AVAX is priced at $37.71 with a 0.96% gain in value as of the morning hours. There is a horizontal line between $40 and $31. If there is a breakout of $39 and persistence above it, a rise up to $45 can be seen. If the pullback continues, pullbacks up to $36 and then up to $32 may be seen. $36 is a critical zone and holds the price as support for now. If there is a loss here, a movement towards the 31 dollar level may be seen.
SOLANA (SOL)
SOL is priced at $148.25 with a 1.68% gain in value as of the morning hours. When we examine the hourly chart, we see that the short-term falling trend line has been broken downwards. If this move continues, the previous peak located in the $149 area could be followed as resistance. If the resistance zone is crossed, we may see a movement towards the $155 region. In case of pullbacks, $146 can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 14,593 with a 1.54% gain in value. When we examine the daily chart, we see that there is an upward movement with the double bottom formation formed in the $ 13 region. If this movement continues, the $15 level can be followed as resistance, and if the resistance zone is crossed, the $15,400 region can be targeted. In case of withdrawals, $14 appears as a support zone.
ARB
ARB is priced at $1.0974 with a 2.52% gain in value as of the morning hours. When we examine the hourly chart, we see that there is an image similar to the ascending triangle formation and the resistance zone of $ 1.08 has been crossed upwards. If this movement continues, a move towards the $1.12 region may be possible. In case of withdrawals, $ 1.08 can be followed as support.
OCEAN
As of the morning hours, OCEAN is priced at 1.0052 dollars with a 1.93% gain in value. When we examine the four-hour chart, we see that the $0.99 resistance level has been broken upwards. If this movement continues, the $1.08 region can be targeted. In case of withdrawals, the $0.98 – $0.99 region can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2312.78 dollars with a 0.47% gain in value. When we examine the four-hour chart, we see that there is no persistence above the $ 2400 level and at the same time, the short-term rising trend line is broken downwards. If this withdrawal movement continued, the $ 2300 level and then the $ 2280 level could be followed as support, and these levels were reached. He worked as support. In upward movements, the 2380 and 2400 dollar regions appear as resistance. $2300 is working as support for now. If this level is lost, there may be a decline to 2260 dollars. $2327 appears as the first intermediate resistance zone.
OUNCE OF SILVER
As of the morning hours, silver is priced at $26.95 with a 1.46% gain in value. When we examine the four-hour chart, we see a strong reaction from the $26 level, which we follow as the support zone. The closest resistance point appears to be $27. If it persists above this region, 27.50 and then 28 dollars levels can be targeted. In case of withdrawals, $ 26.50 can be followed as short-term support.
