FTX’s $744 Million Sale Approved
FTX’s stakes in Grayscale and Bitwise were worth $744 million as of October 25, but the value of the shares has increased since then. Although the court document refers to total assets of $744 million, this is because the valuation figure is as of October 25, 2023. The value of assets has increased since then. About $7 billion in assets have been recovered so far, with almost half of that coming in the form of cryptocurrencies. In June, FTX’s debt was estimated at $8.7 billion. The approval comes nearly four weeks after FTX debtors filed a petition with Judge John Dorsey on November 3 requesting the sale of six cryptocurrencies, including Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE) and Bitwise 10 Crypto Index.
US Growth Data Announced
On November 29, 2023, the Gross Domestic Product data was announced in the US. While the expectation was 4.9%, it was 5.2%. Markets did not react to the data in a big way.
New Annual High in Solana’s TVL Value
Analyzing DeFi activity on the Solana blockchain, the total value of locked assets (TVL) reached a new annual peak. With the price increase, Solana’s TVL value rose to over $640 million. This growth reflects a continued positive trajectory for Solana’s DeFi ecosystem, whose TVL has grown 204% year-to-date.
Gensler Spot Says He Won’t Prejudge Bitcoin ETF
“This is an area rife with bad actors, fraud, manipulation and money laundering,” SEC Chairman Gary Gensler said on Wednesday, without specifically addressing questions about spot Bitcoin ETF filings. He was silent when asked if the industry will see any action soon on the spot Bitcoin ETF applications he is reviewing. Then he said he would not prejudge.
Pando Asset AG Files Application for Spot Bitcoin ETF
Pando Asset AG, a Switzerland-based asset management company, has applied for a spot Bitcoin ETF. If approved, the ETF proposed by Pando will trade on the Nasdaq exchange under the symbol PBC.
US Treasury Seeks to Expand Sanctions on Crypto Companies
The US Treasury announced that they are working on new sanctions tools to curb illegal activities in the cryptocurrency sector. With these enforcement tools, the Treasury aims to update regulations and tax rules to better address the evolving digital asset ecosystem.
Bloomberg Analyst Confirms 90% Chance of Bitcoin ETF Approval in January
Bloomberg’s ETF analyst Eric Balchunas suggested in a November 29th X post that the spot Bitcoin ETF maintains its stance on a 90% probability of approval by January 10th. Emphasizing the extensive involvement of the large number of people working on ETFs, he suggested that it was unlikely that applications would be rejected.
Binance to End Support for BUSD
In its announcement dated November 29, Binance said that users should withdraw or convert their existing BUSD on the exchange to other assets before December 15. Starting December 31st, Binance will disable BUSD withdrawals. At this point, existing balances for certain users will be automatically converted to First Digital USD (FDUSD).
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BITCOIN(BTC)
Bitcoin is priced at $ 37,904 with a 0.13% gain in value as of today morning hours. On the 4-hour chart, after the reaction of the rising channel, it was able to reach the middle part of the channel but could not break above it. 37,350 dollars is the first support zone and there is a possibility that it can rise to the top of the channel, that is, up to $ 40,000, according to the reaction it will receive from here.
ETHEREUM(ETH)
ETH, which gained 0.24% as of morning hours, is priced at $ 2034. On the 4-hour chart, we can say that it forms a horizontal band. After touching 2 times above the band, it experienced pullbacks. For this reason, in the event of a pullback, it may first break down the $ 2016 level and fall to $ 1903. In the continuation of the upward movement, an increase up to $ 2200 can be seen if $ 2135 is broken.
RIPPLE(XRP)
XRP is priced at $0.6049 as of morning hours, down 0.67%. On the 4-hour chart, we can now consider $0.5981 as intermediate support. In the continuation of the upward movement, $ 0.62 is the first target and if the rise continues, a price movement up to $ 0.65 can be seen. In case of a downward pullback, the first support zone seems to be between 0.59 and 0.5988.
AVALANCHE(AVAX)
AVAX is priced at $ 21.22 with a 0.47% gain in value as of morning hours. The $20 level was regained. It is now very important to ensure permanence here. If $ 20 works as support, we said that the target could now be progressing to $ 24 and we see that it has gained the $ 21 level.
SOLANA(SOL)
SOL is priced at $ 60.26 with a gain of 1.57% as of morning hours. When we examine the four-hour chart, we see that Solana is trading above the $ 59 level. If this rise continues, the 61.40 resistance level can be followed. If resistance is broken, a rise towards $66 levels can be seen. In case of a pullback, 59 and 55 levels may be tested.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 14.463 with a gain of 0.17%. We see that the 15.200 and 15 zone, which we follow as resistance levels, cannot be broken upwards. In case of a pullback, the $ 14 level appears as an important support level. If it falls to this level, it can be followed as a reaction point. A rise towards the $16 level can be seen with an upward break of resistance levels.
ID
ID is priced at $ 0.34257 with a 30% gain in value as of morning hours. When we examine the daily chart, we see that the resistance levels of 0.33030 and 0.29820 are broken upwards. In case of persistence, a rise towards the 0.38000 region can be seen. In case of a pullback, the 0.31100 level can be followed as support.
UMA
UMA is priced at $ 2,015 with a 3.92% gain as of morning hours. When we examine the daily chart, we think that the 1.915 level was broken upwards. In case of persistence above this level, an increase towards the 2.100 level can be seen. In case of a pullback, 1.960 can be followed as a support level.
