Galaxy Digital Expects Approval of Spot Ethereum ETFs in July
Steve Kurz, head of asset management at Galaxy Digital, said the SEC could approve a spot Ethereum ETF before the end of July. In his statement to Bloomberg on July 2, Kurz stated that he expected the approvals to be announced this month. Kurz also expressed optimism about approvals for other spot crypto ETFs beyond Ethereum. He said legislation, including securities-defining laws, is needed and he believes the process will happen even if Joe Biden remains president.
Court Gives Green Light to Expedite Consensys and SEC Case
A federal judge has approved a timeline for the court to review the merits of a lawsuit filed by software firm Consensys against the U.S. Securities and Exchange Commission (SEC) and its commissioners. In a July 1 filing in the U.S. District Court for the Northern District of Texas, Judge Reed O’Connor set deadlines requiring SEC and Consensys attorneys to file opening and objection briefs by September and November, respectively. Under the timeline, the five SEC commissioners and regulators must submit their responses by July 29, and response summaries are due by Nov. 26.
Robinhood Plans to Launch Crypto Futures in the US and Europe
Robinhood is reportedly planning to expand its cryptocurrency offerings by leveraging its acquisition of Bitstamp to enter the futures market. According to Bloomberg, the company aims to launch CME-based Bitcoin and Ethereum futures in the United States and use Bitstamp’s licenses to offer perpetual futures for Bitcoin and other tokens in Europe.
Cardano Updates MiCA Compatibility Indicators
The Cardano Foundation, in partnership with the Crypto Carbon Ratings Institute (CCRI), has published sustainability indicators for the Cardano network that comply with the upcoming Crypto-Asset Markets (MiCA) regulation in the European Union. Cardano Foundation CEO Frederik Gregaard said in a statement to Cointelegraph: He said that the foundation wants to both ensure compliance with upcoming EU regulations and set a benchmark for the crypto industry by developing MiCA-compliant sustainability indicators.
Solana and Ripple Transactions from Swiss Bank
PostFinance, a wholly government-owned Swiss bank, is expanding its cryptocurrency operations by adding Solana and Ripple to its trading platform. This move comes nearly a year after the bank first entered the crypto market. The state-owned company joined the digital asset trading industry in August 2023 through a strategic partnership with Sygnum Bank, another Swiss financial institution with Hong Kong roots.
CleanSpark Issued 445 Bitcoins Last Month
CleanSpark mined 445 Bitcoins in June, up from 417 Bitcoins in May, and exceeded its mid-year operational hashrate target of 20 EH/s thanks to the acquisition of five new mining sites in Georgia. The company sold 8.06 Bitcoins in June at an average price of $67,514. CEO Zach Bradford emphasized that the company is focused on increasing Bitcoin mining hashrate and revenues and continues to maximize efficiency at existing sites, with future opportunities in Wyoming and Tennessee. CleanSpark also acquired GRIID Infrastructure in a $155 million deal and expects its operational power to reach 100 megawatts by the end of the year. The company has mined 3,614 Bitcoins so far in 2024.
Aave DAO Launches GHO Stablecoin on Arbitrum
Aave’s decentralized autonomous organization is launching its GHO stablecoin on the Arbitrum blockchain as part of its cross-chain expansion strategy. The fully supported and transparent stablecoin will use Chainlink’s Cross-Chain Communications Protocol (CCIP) and will initially launch on Arbitrum and expand to other networks over time. This expansion aims to increase access and adoption and reduce transaction costs. Stani Kulechov, founder and CEO of Aave Labs, stated that integration with other networks will reduce fees, offer faster transactions, increase liquidity and introduce new use cases for GHO, such as digital payments.
Standard Chartered Updates Its Bitcoin Forecast
A new forecast by Standard Chartered suggests that the Bitcoin price could rise to an all-time high next month and reach the $100,000 level by the time of the 2024 presidential election in November. Additionally, Standard Chartered Bank’s director of forex and digital assets research, Geoffrey Kendrick, shortened the term for this prediction, saying, “A new all-time high for Bitcoin is likely in August, followed by $100,000 by US election day.” said.
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BITCOIN (BTC)
BTC is priced at $61,170 with a 1.58% loss of value as of the morning hours. There was a drop to $ 58,500, but it could not be sustained. The horizontal band has been re-entered. $62,500 appeared to be the first resistance level and was broken upwards, but it could not be maintained for a long time. Closings above $64,000 are required for the continuation of the rise. In case of a pullback, $62,200 appears as the first support.
ETHEREUM (ETH)
ETH is priced at $3370 with a 1.49% loss of value as of the morning hours. $3148 appears as major support. After the decline to 3241 dollars, permanence could not be achieved and the upward movement partially started. For the continuation of the rise, permanence above $ 3500 must be maintained. If stability above $3500 is achieved, an increase may occur up to $3750. In the continuation of the retreat, $ 3000 seems to be the strongest support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.48 with a 1% loss in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.45 level, but it could not be permanent. $0.50 is a critical level and this level must be regained. Initial support again appears to be the range between $0.48 and $0.45. Areas where there may be resistance include the $0.50 and $0.52 levels.
AVALANCHE (AVAX)
AVAX is priced at $28.00 with a 2.40% loss in value as of the morning hours. The rise continues after gaining support at $23.50. In case of withdrawals, the 28 and 27 dollar areas can be followed as support. $25.30 seems to hold the price for now. For the rise to continue, the $30 zone must be broken and persistence must be achieved. If $ 30 is exceeded, there may be a rise again up to $ 40. If the withdrawal continues, $25 is a region that is likely to act as major support.
SOLANA (SOL)
SOL is priced at $148.72 with a 3.45% depreciation as of the morning hours. When we examine the four-hour chart, we see that the $150 level, which we follow as the resistance zone, has been broken upwards, but it cannot be maintained above this zone. If the downward movement continues, the $145 and $140 levels can be followed as support. In case of persistence above the resistance level of 150 dollars, the 160 dollar region can be targeted.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 14,190, with a 1.56% loss in value. When we examine the four-hour chart, we see that there is some correction movement after the breakout at the $ 14,500 level, which we follow as the resistance zone. In this case, the $14 level appears as an important support zone. In case of a downside break, a move towards the $13,500 level may be possible.
EOS
EOS is priced at $0.5725 with a 1.87% loss of value as of the morning hours. When we examine the four-hour chart, we see a movement similar to the ascending triangle formation. The resistance zone of this formation appears as $ 0.5945. If there is a break above the resistance zone, an upward movement may be possible. In case of withdrawals, the $0.56 level can be followed as support.
DYDX
DYDX is priced at $1.33 with a 1.84% depreciation as of the morning hours. When we examine the four-hour chart, we see that there is some reaction from the $ 1,325 level, which we follow as the support zone. If this reaction movement continues, the $1.36 level appears as resistance. If the support zone breaks downwards, the decline may continue.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2334 dollars with a 0.20% gain in value. There was a decline from $2390 to $2290. The $2290 level is acting as support. In case of another pullback to $2308, this could be the beginning of an upward move. A break above $2340 is required for the continuation of the rise.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.68 with a 0.53% loss in value. When we examine the four-hour chart, we see that the $29 level, which we follow as the support zone, was tested and there was some reaction movement from this zone. If this movement continues upwards, the $29.80 level is followed as an important resistance. If the resistance zone is crossed, the $30 level can be tested.
