Grayscale Lawyers Call on SEC
According to the statement, Grayscale sent a letter to the SEC through its lawyers, inviting them to discuss the next steps in the Spot Bitcoin ETF process. Last week, the court found the SEC’s grounds insufficient and Grayscale became the stronger party in this process. The letter also states that they want to negotiate as quickly as possible and accelerate the transition to the ETF process.
Visa Adds Solana to Payment Methods
Visa, one of the world’s largest payment services companies, announced a pilot program in which its commercial customers will use Solana to access USDC payments. Visa Crypto President Cuy Sheffield stated that by utilizing stablecoins such as USDC and giant blockchain networks such as Solana and Ethereum, they offer a modern method to improve the speed of international payments and send and receive money to their customers.
800 Million XRP to be Relocked
Ripple regularly performs XRP unlocks at regular intervals by XRP’s escrow system. Lastly, it is known that 1 billion XRP was unlocked on September 1. In response, this month, 800 million XRP was locked into two different escrows with the escrow system. So Ripple kept only 200 million XRP ($100 million) for itself, bringing other XRPs back into the system.
Solana Users at Two-Year Low
Despite the positive news and price flow, Solana, which is in a negative process in on-chain data as seen in all Layer-1 projects, reached its lowest level since 2020, with the number of daily active addresses reaching 204,000 on August 31.
BITCOIN(BTC)
Bitcoin is priced at $ 25,746 with a 0.18% loss in value as of today morning hours. We see that market inactivity continues in Bitcoin. Below 25,800, Bitcoin’s volume has plummeted and the US correlation has also plummeted. At the same time, we see that the retracement seen in the dominance ended yesterday evening and started to move upwards again before reaching 49%.
ETHEREUM(ETH)
ETH, which lost 0.33% as of morning hours, is priced at $ 1629. Just like Bitcoin, Ethereum is also experiencing a great inactivity. Ethereum, which could not participate in the positive divergence at the bottom yesterday, continued its horizontal movement without gaining value like Bitcoin. The critical level in Ethereum is 1620 and 1580 in case of a breakout.
RIPPLE(XRP)
XRP is priced at $0.5039 as of morning hours, down 0.34%. We see that XRP remains below the 200-day moving average. In Ripple, which realized a horizontal movement and remained below 0.51 after exceeding the support zone, if 0.51 is broken after the 200-day MA, we can target 0.53 and then 0.56 levels.
AVALANCHE(AVAX)
AVAX is priced at $ 9.87 with a 0.40% loss in value as of morning hours. After returning from the 9.70 region, AVAX rose to the $ 10 level and quickly returned. In AVAX, which is one of the worst performing projects, it is very important to exceed the $ 10 zone, and the levels of 9.75 and 9.30 will be important in the downward movement. In the upward movement, we will be targeting 10.40 levels after exceeding 10 dollars.
SOLANA(SOL)
SOL is priced at 19.78 with a 2.32% depreciation as of morning hours. The break of 19.70 in Solana was realized with the news of Visa yesterday, and then broke the support level of the horizontal channel, which broke downward, and reached the 20.50 region by breaking the $ 20 level. Solana, which broke down again with the subsequent re-test, broke the $ 20.00 level and retreated to 19.70. If 19.70 is broken in Solana, then we can expect the $19 level.
CHAINLINK(LINK)
LINK, which gained 0.16% as of morning hours, is priced at 6.145. In LINK, we see a selling pressure there after the positive divergence continues and the rise up to our resistance level in the range of 6.25-6.30, which we expect after the break of the 6.10 level. LINK, which fell from the resistance zone, fell below the 6.15 level for now and we can say that the 6.10 level can work as support if the decline continues.
MAKER(MKR)
MKR is pricing at $ 1118, down 1.50% as of morning hours. After breaking the 1100 level upwards in MKR, we see that we remain in the lower zone of the horizontal movement that has been going on since the beginning of September. After breaking the middle band in the 1140 dollar region upwards, we can target the 1190 level, but we see that the selling pressure in the 1140 region remains strong. MKR can be expected at 1090 for re-entry.
