First HBAR Spot ETF Application from Canary Capital
Canary Capital has filed an S-1 registration affidavit with the SEC for the first HBAR spot ETF, which will provide direct exposure to HBAR, the native asset of the Hedera network. This ETF, which aims to hold only HBAR rather than using derivatives, follows Litecoin, Solana, and XRP spot ETF applications from Canary Capital, which recently launched an HBAR Trust for accredited investors. With a possible shift in SEC leadership under the Trump administration, some industry experts, such as ETF Store President Nate Geraci, expect companies to file more aggressive crypto ETFs in anticipation of a more favorable regulatory environment.
World Project Started in Brazil
Sam Altman’s World project, formerly known as Worldcoin, has launched its human verification program in Brazil, a crypto-friendly country with a population of over 215 million. World ID verification aims to increase registrations by addressing identity theft issues, and 93% of Brazilians are reportedly affected. Developed by Tools For Humanity, the project uses biometric scans to verify that users are human, providing WLD crypto tokens to verified individuals. World aims to separate humans from AI-powered entities as digital spaces are increasingly filled with bots. The project states that biometric data is not stored after verification, assuring users and governments about privacy.
SolFi Launch Focused on Solana from DeFi
DeFi Technologies has launched a subsidiary called SolFi, described as “Solana’s Microstrategy,” to provide investors with direct exposure to the Solana blockchain. By leveraging DeFi Technologies’ MEV engine and validator node operations, SolFi aims to generate higher yields than rival SOL staking platforms. This approach allows SolFi to reinvest earnings or distribute them to shareholders as dividends, following a similar path to Microstrategy’s strategy of generating cash flow from its BTC holdings. SolFi’s focus on Solana fits investors’ optimism towards this blockchain. Some predict that the price of SOL could surpass $600 in this cycle. DeFi Technologies’ recent acquisition of Stillman Digital positions the company as a major player in the crypto investment space.
Crypto Market Cap Surpasses $3.1 Trillion
The total crypto market cap reached a new high of $3.12 trillion, surpassing the previous peak in November 2021. Bitcoin, which has a 60% dominance of the market, has been the main driver of this rise and has recently reached the level of $ 89,560. While the crypto market size is ahead of tech giants such as Microsoft and Amazon, it lags behind Apple and Nvidia and is described as “early-stage.” Standard Chartered predicts that supportive policies could increase its market capitalization to $10 trillion by 2026. Investment firms like Bernstein are exhibiting a strong bullish trend, advising their clients to increase their crypto exposure.
Ethereum Foundation Sells 100 ETH
The Ethereum Foundation sold 100 ETH for 334,315.7 DAI as the first transaction since publishing its 2024 report. In 2024, the foundation sold a total of 4,266 ETH, raising $11.83 million at an average price of $2,773. These funds are used for projects in the Ethereum ecosystem, such as developer salaries, research, and zero-knowledge technology. Vitalik Buterin explained that these sales were made to support critical initiatives and global Ethereum events rather than staking. The foundation’s $970.2 million treasury is largely made up of ETH, accounting for 0.26% of the total ETH supply. Despite these sell-offs, ETH price remains above $3,230 and spot Ethereum ETFs are seeing record inflows.
El Salvador and Bhutan’s BTC Holdings Break Records
Bitcoin’s recent rally has pushed the value of El Salvador’s BTC holdings to over $500 million and Bhutan’s to over $1.1 billion. Bhutan’s BTC holdings account for more than one-third of the country’s GDP, while El Salvador’s assets account for just 1.5% of its GDP. Bhutan has become one of the largest state Bitcoin holders by accumulating BTC through hydroelectric mining. El Salvador improved its financial health by starting to buy BTC at an average cost starting in November 2022. Thanks to its rising asset values and stabilized financing, the country has announced plans to repurchase $2.5 billion in debt.
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BITCOIN (BTC)
BTC is priced at 87,170 with a loss of 0.90% as of the morning hours. The price is trading sideways at 87,000 levels, with 86,628.74 standing out as support. If persistence above this level is achieved, it can be expected that the uptrend will continue and the price will gain upward momentum again. However, in case of a possible pullback of the 86,628.74 support, the next support level at 81,846.71 can be followed. On the upside, the first resistance levels are observed at 88,000 and then 90,000. If the price consolidates at these levels and follows an indecisive course, it can create short-term uncertainty in the market.
ETHEREUM (ETH)
ETH is priced at $3160 with a loss of 2.55% as of the morning hours. It is currently testing the support zone at 3,175 levels. In the event of a sustained break below this level, the risk of the pair pulling back to the next support zone at 3,050 could increase. At this point, the 3,050 level will act as an important support for the continuation of the decline. On the upside, the 3,248 level stands out as a strong resistance. If the price breaks through this resistance, it can be considered a positive signal for the pair to re-enter an uptrend. Currently, the price is stuck between 3,175 and 3,248 levels, creating uncertainty in the short term and making it important to break these levels for the next direction of action.
RIPPLE (XRP)
XRP is priced at $ 0.66 with a loss of 6.20% as of the morning hours. After rising to 0.74 levels, the price experienced a sharp pullback and is currently trying to find support at 0.66 levels. It seems that the 0.66 level could form an important support area in the short term as it is close to the previous resistance zone. In case of persistence above this level, the pair may have the potential to move upwards again, and in this case, the 0.70 and 0.74 levels can be targeted again. However, a close below 0.66 could lead to a decline towards 0.60 as selling pressure increases.
AVALANCHE (AVAX)
AVAX is priced at $32.16 with a loss of 5.30% as of the morning hours. The price has retraced to the $32.95 support after reaching as high as $37 in a strong uptrend. Currently, the $32.95 level appears to be an important support area. Persistence above this level may be critical for the continuation of the upward movement. If this support is broken, there is a greater chance that the price will fall towards the lower support levels, especially the next demand zone around $30. In order for the upward movements to resume, it is important for the price to rise above $34 and gain a positive momentum.
SOLANA (SOL)
SOL is priced at $206.51, down 2.57% as of morning. The price was rejected from its resistance at $215.27 and suffered a pullback towards the $205 support level. Currently, there is an effort to hold on to the $205 level. It is very critical to maintain this support level. If there is a close below the $205 level, the potential for the price to drop to the next important support level at $183.38 could increase. In this case, it will be important for traders to keep an eye out for support levels. On the other hand, if the $215.27 resistance is breached, the upside move could gain momentum and the price could still have the potential to reach new highs. Although the current price actions point to a correction in the short term, the maintenance of the main support levels indicates that the uptrend remains strong.
