Genesis Suspends Withdrawals
According to recent reports from the Financial Times, cryptocurrency platform Genesis has temporarily suspended customer withdrawals. Genesis, part of Digital Currency Group (DCG), is a large ecosystem of more than 200 cryptocurrency-focused companies. The company offers institutional investors trading, lending, borrowing and specialized financial products in the crypto markets. The company ran into financial difficulties and filed for bankruptcy in January, as the Gemini exchange recently halted customer withdrawals.
JP Morgan Releases Bitcoin Mining Report: How Will the Rally Start?
In a recent research report, JP Morgan stated that the Bitcoin mining industry is at a crucial juncture. According to analysts, the approval of a spot Bitcoin exchange-traded fund (ETF) could trigger a rally despite record hash rates and a halving period that could impact the industry’s revenues and profitability. According to JPMorgan analysts, BTC mining company CleanSpark is JPMorgan’s favorite choice due to its balance of scale, growth potential, energy costs and relative value.
Chainlink Whale Wallets Increase by 6
In the midst of the volatile crypto bear market, Chainlink whales seem to continue not to back down. This has led to a rapid increase in the number of not only Chainlink whales, but also altcoin-related whale addresses. In a report published on X (formerly Twitter) by on-chain data tracker Santiment, Chainlink revealed what Chainlink whales have been doing over the past month. The report showed significant accumulation among large LINK wallets holding between 1 million and 10 million tokens.
Japanese Yen-Backed Digital Currency DCJPY to Launch in July 2024
According to a news report from Reuters, crypto exchange DeCurret announced that Japanese companies such as Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have come together to plan to launch a digital currency by July 2024. This currency will be used for the exchange and settlement of clean energy certificates. According to DeCurret, GMO Aozora Net Bank is preparing to offer a digital currency denominated in Japanese Yen, known as “DCJPY”.
SANDBOX GROUP Announces Partnership with XDB Chain to Move to Web3
The Sandbox Group, which operates a London-based network of learning businesses, announced a collaboration with XDB CHAIN, a user-friendly, open-source blockchain used to back digital assets. This collaboration will involve the development of a private label cryptocurrency that will be offered as a payment option to users of Sandbox’s wide range of digital products and services worldwide.
Coinbase’s 3rd Quarterly Trading Volume Down 52% Year-on-Year
The spot trading volume of Coinbase, the largest US-based cryptocurrency exchange, fell to USD 76 billion in the third quarter, down 52% year-on-year, Bloomberg reported, citing crypto data firm CCData. Coinbase’s monthly trading volume fell to $20.42 billion in September, down 23% from $25.69 billion in August, according to The Block.
Bloomberg Senior Analyst McGlone Announced Ethereum Forecasts: “This Level Must Be Left Behind For Its Strength To Return”
Bloomberg analyst Mike McGlone expressed concerns about potential bearish implications for Ethereum in his latest analysis. McGlone pointed out that the first closing price of Ethereum futures listed on the CME in the first quarter of 2021 was $1,752. This was the highest price seen in the first week of this year and since August. The analyst suggests that this could have downside implications for ETH. McGlone also noted that liquidity has fallen from around 80% to less than 40% since the start of futures trading. McGlone argued that a sustained rise in ETH above the 100-week average, which hovers around $2,000, could mean the first sign that ETH’s strength is returning.
Platypus Finance at Avalanche Faces a Security Attack
Platypus Finance, a DeFi protocol operating on the Avalanche network, fell victim to a security attack earlier today. According to security firm PeckShield, there was an estimated loss of over $2 million. The project responded by temporarily halting all liquidity pools.
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BITCOIN(BTC)
Bitcoin is priced at $ 26,800 with a 0.16% gain in value as of today morning hours. It faced selling pressure after the headline inflation data yesterday afternoon. It seems to have found support again from the range of 26.750 – 26.500, which it had previously flatlined for a long time. Below these levels may take us first to 26,400 and then to 25,300. If the price provides persistence here, we are likely to see 27,000 first and then 27,500 again.
ETHEREUM(ETH)
ETH, which gained 0.06% as of morning hours, is priced at $ 1540.90. With the data released yesterday, we also see a sales movement in Ethereum. Yesterday, we said that although $1550 seems to be the first support, the range of 1535 and 1520 seems to be a stronger support, and it seems to have been so. With the reaction from the $ 1520 level, it has a positive stance for the moment. The first target is to ensure permanence above the $ 1550 level, then we can see levels of 1570s. If the selling movement continues, we may see the $1500 level this time.
RIPPLE(XRP)
XRP is pricing at $0.4825, down 0.4825% as of morning hours. It still seems to retest and continue to decline after breaking below the horizontal band. Yesterday, we stated that our first support place seems to be 0.4744 for the moment, and it seems to have been so. It received a reaction of nearly 2% from here. If we enter the horizontal band again, we can first see the 0.5050 level and then the middle part of the horizontal band, 0.52 levels.
AVALANCHE(AVAX)
AVAX is priced at $ 9.15 with a 0.22% gain in value as of morning hours. After losing the $ 9.21 level, we stated that $ 9.05 would be our first support. Further down, we see a pricing above $9 again, taking the reaction at $8.90. If it stays above $ 9.20, we can go to $ 9.40 levels again with the reaction it will get from here. But if downward selling pressures continue, we may fall to the $ 8.80 level again.
SOLANA(SOL)
SOL is priced at $ 21.20 with a loss of 0.38% as of morning hours. After breaking down to $ 22, which we follow as a support level, selling pressure was seen in Solana. The first support level to follow is 21.20. For SOL, which is traded exactly at the support level, it will be important whether it can provide permanence in this region. If there is a downward break, it seems possible to retreat to 20.40. In addition, since the target level of the descending triangle pattern is 20.40, it may be possible to retreat up to there and get a reaction. In upward movements, the resistance level of 22 dollars is important.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 7.173 with a 0.33% loss in value. LINK, which broke the $ 7.30 resistance level upwards the other day, continues its downward movement again because it cannot provide permanence. The first support level seems to be 6.95. In the upward movements, 7.30 and the 7.40 level, which was sold immediately afterwards, will be important for LINK. It seems possible that LINK, which moves as a low top and low bottom, will continue to decline.
MATIC
MATIC is pricing at 0.5099 with a gain of 0.41% as of morning hours. MATIC, which continues its downward movement, seems to want to start its upward movement again by getting a reaction from the 0.5030 support level we mentioned yesterday. If the upward movement continues, the 0.5260 level will be important. On September 28, MATIC, which received a reaction from the same support level, is at the double bottom. In an opposite scenario, support levels are 0.5030 and 0.4960.
