Gensler’s Response to Bitcoin ETFs
Securities and Exchange Commission Chairman Gary Gensler did not provide many details when asked about the status of spot Bitcoin ETFs on Wednesday, but said staff was continuing to review them. Gensler declined to comment when asked about his next steps in the ongoing case against Grayscale after he decided last month not to appeal the court ruling. He also did not answer the question of whether a single fund would potentially be approved or all funds would be approved if such an approval came.
New Hires from Ava Labs, Lead Developer of Avalanche
Ava Labs, the main developer of the Avalanche blockchain, has hired 2 employees from Polygon and OKX to expand in India. Devika Mittal and Kamakshi Arjun have joined Ava Labs as head of India and India business development leader, respectively, to help drive adoption of Avalanche in the country, Ava Labs said on Wednesday.
Marathon Digital to Store Some of Its Bitcoins at Fidelity
Bitcoin miner Marathon Digital (MARA) will store some of its digital assets at Fidelity Digital Asset and add a second custody partner for diversification purposes. said on Wednesday that while in the past Marathon has stored all of its Bitcoins with a single provider, it will open multiple custodial asset accounts as part of its broader treasury management strategy. Marathon Digital is known to have 13,726 Bitcoins as of September 30 and is generating more than 1,000 Bitcoins per month.
Stellar Adds Smart Contracts Against Ethereum
Stellar, one of the oldest blockchains, is considering an innovation to include smart contracts that could theoretically attract new applications and users. Stellar wants to take over smart contract blockchains like Ethereum with its new Soroban project. With this innovation, the Stellar side expects increased interest in the project and a positive movement in the price.
Yuga Labs CEO to Restructure for Metaverse
Daniel Alegre, CEO of Yuga Labs, announced a restructuring of the company and a renewed focus on the Otherside metaverse. Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC) NFT collection, reports that it has completed its restructuring phase to position it for long-term success.
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BITCOIN(BTC)
Bitcoin is priced at $ 28,322 with a 0.01% gain in value as of today morning hours. After the market calmed down, it was repeatedly rejected at the resistance of $28,560 and is now priced below $28,500. A new support area is now between 28,000 and 28,240. He has received 6 times support from this region. If it stays above it, it needs to exceed $28,600 to advance further. If a downward break occurs, our first support seems to be $ 27,900.
ETHEREUM(ETH)
ETH, which lost 0.73% as of morning hours, is priced at $ 1552. It has re-entered the $1551 to $1530 zone, which is a strong demand zone. A loss here could take us to the $1500 level. In the event that we provide persistence above it, we need to exceed $ 1750 and then $ 1580 levels.
RIPPLE(XRP)
XRP is priced at $0.4831 with a 0.96% loss in value as of morning hours. Its current position is quite critical and is likely to continue at this pricing unless it makes a new descending bottom. Although we can see that $0.48 is currently working as support, we can see that it will no longer work as support in any decline in the market. If the upward movement starts, $0.49 seems to be our first resistance zone. Above $0.49 and then exceeding $0.50 again would be very positive for XRP.
AVALANCHE(AVAX)
AVAX is priced at $ 8.88 with a 0.34% loss in value as of morning hours. After the downward break of $ 9.40, it seemed to have found support at the level of $ 9.30, but the downward break occurred and it realized a retest to $ 9 again. We saw that $9 was no longer working as a support, but there was a pretty good reaction at $8.65. If this rise continues, we can see pricing above $ 9 again.
SOLANA(SOL)
SOL is priced at $ 23.68 with a gain of 1.11% as of morning hours. SOL, which could not provide permanence above 24.33, the resistance level we mentioned yesterday, seems to be in an upward attack trend again by throwing a needle to the 23.10 support level. The 23.70 level seems to be important for the continuation of the upward movement. With the persistence above this level, the 24.33 level can be tested again. In case of downward movements, it is possible to follow 23.10 and 22.70 levels as support.
CHAINLINK(LINK)
As of morning hours, LINK is pricing at 7.331 with a 0.34% loss in value. LINK, which moves approximately horizontally, continues to move within a band with an upper level of 7.732 and a lower level of 7.125. Inside this zone, the 7.40 level appears as intermediate resistance. If there is a break above the intermediate resistance level, it may be possible to see a movement up to $ 7,732. In an opposite scenario, support levels are 7,125 and 6,944.
MAKER (MKR)
MATIC is pricing at 1387 with a 0.58% gain as of morning hours. MKR, which rose to 1480 with the double bottom formation at the $ 1352 level, retreated a little with the sales coming from that region. With the return from 1375, it may be possible to test the 1480 resistance again. In case the upward movement loses strength, the support levels to be followed are 1352 and 1300 levels.
