FTX Stakes $122 Million SOL – Ferrari Accepts Crypto Payments – ProShares Introduces Ethereum ETFs

FTX Stakes $122 Million Solana Stake

FTX staked 122 million Solana (SOL) stakes worth $5.5 million on the Solana blockchain. The move alleviated liquidation concerns, especially regarding the released coins. FTX owned the exchange’s assets and debts at the time of the bankruptcy filing and has reportedly recovered about $7 billion in assets. These assets include over $1 billion in Solana, $560 million in Bitcoin and $200 million in real estate in the Bahamas.

Ferrari Accepts Crypto Payments in the US

Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The automaker is also planning to accept crypto payments in Europe. According to a Reuters report dated October 14, Ferrari’s chief marketing and commercial officer Enrico Galliera confirmed the luxury car brand’s intentions. Ferrari’s choice to accept cryptocurrency payments is driven by market demand and dealer demand, with many customers, including young crypto-savvy investors, investing in digital currencies.

ProShares Introduces Ethereum ETFs

ProShares has introduced three Ether futures exchange-traded funds (ETFs) in recent weeks. The ETF is planned to be listed on the NYSE Arca exchange and aims to achieve daily trading results that mirror the inverse of the daily S&P CME Ether Futures Index performance, according to a filing on Friday, October 13.

Grayscale Expects Bitcoin ETF Approval After Appeals Process Ends

The SEC did not appeal the court’s ruling in favor of Grayscale, paving the way for the adoption of spot ETFs. Grayscale, a leading digital asset management firm, announced that the 45-day reconsideration period provided by the Federal Rules of Appellate Procedure has officially expired. According to the company, the court will issue its final decision within the next seven calendar days. The Grayscale team stated that it is preparing to facilitate the conversion of the Grayscale Bitcoin Trust (GBTC) into an Exchange Traded Fund (ETF) after the Securities and Exchange Commission (SEC) approves it.

Bitcoin Whales Buy While Ethereum Whales Sell

This week, observers caught a sharp contrast between the major holders of the two largest cryptocurrencies on the market. They emphasized the seeming contrast between the whales in Bitcoin and Ethereum. Ethereum whales holding 1,000 or more ETH (worth about $1.5 million) have been in a sharp downtrend since 2020, with a total of $20 million worth of ETH sold in the process, according to on-chain analytics firm Glassnode. Bitcoin whales, on the other hand, are quietly accumulating. Those holding 1,000 or more BTC (roughly $26.9 million) were mostly stable over the same time period.

Update on Ark and 21Shares ETFs

According to Bloomberg analysts James Seyffart and Eric Balchunas, communication between fund managers and the Securities and Exchange Commission (SEC) regarding spot bitcoin ETFs is becoming more constructive. “Ark and 21Shares’ latest update to the draft spot Bitcoin ETF is notable for the addition of at least five pages of new text, signaling a constructive conversation that usually only occurs when a fund is moving towards approval,” Seyffart and Balchunas said.

Metamask Removed from App Store

The mobile app of crypto wallet MetaMask has been removed from the Apple App Store. “We expect MetaMask to return to the App Store shortly and sincerely apologize for any inconvenience this may cause,” the MetaMask account on X said in a statement.

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BITCOIN(BTC)

Bitcoin is priced at $ 27,272 with a 0.44% gain in value as of today morning hours. After consolidating at 26,750 support for a long time, it was able to overcome 27,000 resistance. Its next first target is to re-enter the trend, i.e. to exceed the 27,500 level. As of now, our initial support looks like $27,000. In case of a break below $27,000, 26,500 may be our next support.

ETHEREUM(ETH)

ETH, which gained 0.42% as of morning hours, is priced at $ 1563.40. With the move over the weekend, ETH failed to rise as much as Bitcoin. The $1570 level is working as resistance for the moment. With the break of this level, we can see the first 1580 and then the 1600 dollar level again. Our first support seems to be 1550 dollars.

RIPPLE(XRP)

XRP is priced at $0.4867 as of morning hours, down 0.16%. It seems to be rejected again from the bottom of the horizontal band, that is, from the level of 0.4885 dollars. If the downward movement continues, our first support could be $0.48. If an upward breakout occurs, $0.50 seems to be our first resistance level. Supports may work a little stronger this time as the market is more driven by Bitcoin and is on the rise.

AVALANCHE(AVAX)

AVAX is priced at $ 9.48 with a 3.60% gain in value as of morning hours. After the break of $9.40, our first resistance seems to be the $9.60 level. As of now, the $ 9.40 level has turned into the first support, but we have always experienced decreases at the same rate as these increases. After breaking the $ 9.60 level, we can go up to $ 10 again.

SOLANA(SOL)

SOL is priced at $ 22.16 with a 1.05% gain as of morning hours. SOL, which received a reaction from 21.20, the support level we mentioned earlier, seems to be trying to provide permanence above $ 22 again. The level to be followed primarily seems to be 22 dollars. If the movement continues upwards, 22.60 will be critical. In case of a downward movement, 21.20 can be followed again.

CHAINLINK(LINK)

As of morning hours, LINK is pricing at 7.573 with a 2.05% gain in value. LINK, which fell to 7.125 last week, is on the rise again with the reaction it received from this level. The resistance of 7.70 will be important for LINK, which is trading above the short-term resistance of 7.40. With the break of the $ 7.70 resistance, it may be possible to see $ 8 levels. Important support points are 7.4 and 7.125.

MATIC
MATIC is pricing at 0.5260 with a 2% gain as of morning hours. MATIC, which continues in a downward movement, seems to want to start its upward movement again by getting a reaction from the 0.5030 support level we mentioned earlier. This level seems to be critical for MATIC, which is traded at 0.5260, which we follow as an instant resistance level. If this level is exceeded, the first target is 0.5450. Support levels are 0.5140 and 0.5030.