Franklin Templeton Joins Spot Ethereum ETF Race
The $1.5 trillion asset management company filed an S-1 with the U.S. Securities Exchange Commission (SEC) on February 12. If accepted, it will be listed on the Chicago Board Options Exchange as the ‘Franklin Ethereum ETF’. Franklin Templeton has become the latest Wall Street firm to file for a spot ETH exchange-traded fund in the US.
Bitcoin Passes $50,000 for the First Time Since 2021
Bitcoin broke a two-year high above $50,000 on Monday, marking the leading digital currency’s highest price since December 2021. The rise of the cryptocurrency was accompanied by liquidations of $191 million in the crypto market in the last 24 hours. Bitcoin’s price has now reached levels seen in late 2021, and a $1 trillion market cap is on the horizon.
Ethereum Gas Fees Rise to 8-Month High as ERC-404 Tokens Soar
The excitement around the ERC-404 token standard has led to a significant increase in trading activity, particularly highlighted by projects such as Pandora and DeFrogs. However, the main reason for the increase in gas prices was the excitement surrounding the ERC-404 token standard, which resulted in peak gas costs rising as high as 377 gwei on February 9, 2023, equivalent to $60 for a standard transaction.
Cardano Added More than 5,000 Smart Contracts So Far in February
Cardano has been dealing with a snowballing situation for several months, especially since it introduced smart contract functionality to its network. Finbold reported that at the end of 2023, 14,302 smart contracts were hosted on the Plutus smart contracts platform (v1 and v2) on Cardano, meaning that the number increased by 10,000 during the year. While these numbers were and still remain impressive, Finbold’s data shows that this trend has not only continued but also accelerated significantly in January and February 2024.
Solana Reached 100 Thousand Pre-Orders for Its Second Mobile Device
In an announcement made on February 12, Solana Mobile announced that it has reached 100,000 pre-orders for its upcoming ‘Chapter 2’ mobile device. The company stated that these 100,000 pre-orders occurred in less than 30 days, noting that this number means that the early pre-order price ($450) will expire in 48 hours. The new products are expected to be delivered by the first half of 2025.
$1.1 Billion Inflow to Digital Asset Funds
Last week, there was an inflow of $1.1 billion into digital asset funds, bringing the total inflow amount to $2.7 billion since the beginning of the year. Assets under management reached the highest level since the beginning of 2022 with $59 billion. When we examine it on a coin basis, almost 98% of the total inflow was in Bitcoin. In addition to Bitcoin, there were 16.5 million inflows in Ethereum and 6.1 million in Cardano, while there was an outflow of $0.4 million in short Bitcoin.
Waitlist for Ethereum Validators Reached Longest Since October 2023
There appears to be an increase in the number of validators wanting to stake their Ethereum on the Ethereum network. According to ValidatorQueue data, the number of validators reached 7,045, its highest level since October 6. Although Ethereum staking activity has increased recently, the annual return on staked Ethereum remains below the yield on the 10-year US Treasury Bill. Additionally, validators are defined as participants who deposit at least 32 Ethereum into the Ethereum network.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $49,989, up 0.14%. With the voluminous upward movement that occurred yesterday afternoon, there was an increase to the level of $ 50,390. $50,000 is both a psychological resistance and a strong level. For this reason, it will be difficult to overcome it alone. $49,000 is the first support level, and as long as this level is maintained, the upward movement of the price may continue. If there is a break below $49,000, $48,200 appears as the next strong support zone.
ETHEREUM(ETH)
Ethereum, which lost 0.36% of its value as of the morning hours, is priced at $ 2651. A strong upward movement was also seen in Ethereum. A strong resistance zone of $2540 was broken and there was an increase to $2685. The first support level is $2615, and if it is maintained above this level, the next target will be to reach the $2700 level. For pricing below $2615, the $2530 region appears as the first support zone.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5279 with a 0.62% loss in value. It continues its downward movement after being rejected at $0.5380, which is the first intermediate resistance zone. The first support zone is the $0.52 level. If there is an upward reaction from here, the $ 0.55 level can be seen again. If there is a downside breakout, $0.50 appears as major support.
AVALANCHE(AVAX)
AVAX is priced at $41.09 with a 0.29% gain in value as of morning hours. After rising to $41.70, it continues to rise again by retreating. $40 appears to be a strong area as the first support zone. If it stays above this level, a rise to $44 can be seen. If the $40 level is lost, we may encounter withdrawals up to $39.11.
SOLANA(SOL)
SOL is priced at $114.05 with a 2.17% depreciation as of the morning hours. When we examine the four-hour chart, we see that the $105-106 resistance area, which we have been following for a long time, has been broken upwards. With this breakout, another resistance level, $115.85, was tested. If the upward movement continues and the resistance area is maintained permanently, the $120 level can be targeted. In case of a withdrawal, the $ 110 level can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $20,020 with a 0.62% loss in value. When we examine the daily chart, we see that the upward movement continues with the horizontal movement breaking upwards and the $ 20,800 level is tested. With the selling pressure coming from this region, we saw a retreat to the $20 region, which is the support level. In case of persistence above the support zone, 20,500 and then 21 dollars level can be followed. If the retreat continues, the $19 level can be followed as support.
RNDR
RNDR is priced at $4.8556 with a 1.14% gain in value as of the morning hours. When we examine the daily chart, we see that the $4.75 resistance level has been broken upwards. If it persists above this region, $5 and then $5.10 levels can be tested. In case of a withdrawal, the $4.60 level can be followed as support.
SFUND
SFUND is priced at $3.61813 with a 1.67% gain in value as of the morning hours. When we examine the daily chart, we see that the descending channel movement has been broken upward. If it persists above the resistance level of $3.50, the level of $3.80 and then $4 can be tested. In case of a withdrawal, the $ 3.55 level can be followed.
