High Entry into Digital Asset Funds
Last week, there was an inflow of $2.7 billion into digital asset funds, bringing the total inflow amount to $10.3 billion since the beginning of the year. We see that the highest entry was in Bitcoin, as always, with $2.6 billion. When we examine it on a coin basis, we see that there was an inflow of 24 million dollars in Solana, 1.5 million dollars in Ripple and 2.7 million dollars in Polkadot, while there was an outflow of 2.1 million dollars in Ethereum. Additionally, the $11 million entry in short-Bitcoin draws attention.
Bitcoin's Market Value Exceeds Silver
Yesterday, Bitcoin surpassed its all-time high and tested the $72,000 level, surpassing its market capitalization of $1.4 trillion, thus surpassing silver. Galaxy Digital CEO Mike Novogratz stated that Bitcoin has the potential to surpass gold as a preferred store of value. The market value of gold is at the level of 14.66 trillion dollars. Other assets ahead of Bitcoin are Alphabet and Amazon.
UK Regulator FCA Allows Crypto ETN Products for Professional Traders
The UK financial regulator, the FCA, has announced that it may launch crypto asset investment securities (cETNs) on its exchanges operating in the country. Only professional investors, such as investment firms and authorized lenders, will have access, the FCA said in a statement. Additionally, the London Stock Exchange (LSE) confirmed that it will begin accepting applications for Bitcoin and Ethereum ETNs in the second quarter of this year. Following this news, Bitcoin tested the $72,000 level.
Donald Trump Supports the Use of Bitcoin
"Sometimes I do little things for fun," Donald Trump said on CNBC's Squawk Box, commenting on Bitcoin and the crypto asset market in general. he said. Denying that he has ever purchased Bitcoin himself, Trump hinted that he was open to allowing US citizens to make BTC transactions, describing it as an 'additional form of currency'. After this statement, there was a 17% upward movement in Ripple.
UAE Opts for Cardano Blockchain to Improve Criminal Investigation Security
The United Arab Emirates (UAE) has incorporated the Cardano blockchain into criminal investigation operations. This announcement was made during the World Police Summit, where Dubai Police showcased a Cardano-based pilot project focused on secure data management related to criminal investigations. This project will enable forensic data to be shared securely with international authorities such as Interpol.
VanEck Reduces Spot Bitcoin ETF Fee to Zero
VanEck announced in an updated prospectus filed with the SEC on Monday that there will be no management fees for its spot Bitcoin ETF. According to the statement, there will be no fees until the VanEck spot Bitcoin ETF reaches $1.5 billion in total assets. If this level is exceeded, the management fee will be updated to 0.20%. Currently, the ETF's assets are at $297 million.
El Salvador Made a Profit of 85 Million Dollars
Following the recent rise in Bitcoin, El Salvador's dollar cost is now 70% above the average purchase price. Since March 11, when Bitcoin prices rose to an all-time high of over $72,000, El Salvador has gained $85 million. When the first purchase of 200 coins was made, the price of Bitcoin was $51,769.
MetaMask Tests First Blockchain-Powered Payment Card with Mastercard
MetaMask is testing a fully on-chain payment card issued by Baanx that runs on Mastercard's network. The MetaMask/Mastercard payment card will be the first fully decentralized web3 payment solution, allowing customers to spend their cryptocurrencies on everyday purchases wherever cards are accepted. Mastercard is collaborating with both MetaMask and hardware wallet company Ledger. On the other hand, Visa is collaborating with the Solana blockchain and USDC stablecoin to facilitate payments and eliminate issues such as paying Ethereum gas fees.
Crypto's Nvidia Render (RNDR) Earns $2 Billion
Render is a blockchain-powered decentralized GPU rendering platform that connects makers and artists with GPU capacity. Known as the Nvidia of crypto, the cryptocurrency has seen a $2 billion increase in its market value in a week. The most important part of this initiative is that it allows users to rent their unused GPU processing capacity to other users who need it to process jobs. Render aims to build a worldwide decentralized rendering network and democratize access to high-performance computing resources.
Hop DAO to Sell $440,000 in ARB Tokens to Fund Operations
Hop DAO held an on-chain vote on Monday to sell 25% of Arbitrum assets, or more than 200,000 ARBs, to pay operating costs. According to the off-chain version of the plan, the DAO plans to purchase USDC by offloading 209,251 ARBs, currently worth approximately $440,000. These stablecoins will be used by the community to pay Hop DAO moderators and fund the protocol's advancement and research projects. It is still unclear when the ARB sales will take place.
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BITCOIN(BTC)
As of the morning hours, BTC is priced at $71,808 with a 0.37% loss of value. With the opening of the United States yesterday, there was an increase up to $ 72,800 and there seems to be a reaction from there. $73,000 is the resistance level, and if pricing is seen above this level, there may be a rise up to $75,000. $69,900 appears to be the first support level. If there is an upward reaction from here, the $ 72,800 level can be seen again. In case of a downward reaction, $69,000 appears as major support.
ETHEREUM(ETH)
ETH is priced at $4035 with a 0.73% loss of value as of the morning hours. After the rise to $4095, retreats continue. It seems to have received support at $4024 in the morning hours. If this decline continues, a pullback may occur up to $3886. If a deeper pullback occurs, price action up to $3592 could be seen. If support is obtained from $ 4025, a rise to $ 4100 may be encountered.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.6997 with a 3.20% loss in value. With the movement that came last night, there was an increase up to $ 0.7440, but there was a rejection from this region and a retreat to $ 0.68. $0.69 appears to be working as support. If this level is maintained, an increase may occur again up to $0.75. Since we are now at the top of the horizontal band, the possibility of resistance levels working increases. If the withdrawal deepens, retreats up to $0.65 may be seen.
AVALANCHE(AVAX)
AVAX is priced at $48.49 with a 1.28% loss in value as of the morning hours. With yesterday's upward movement, there was an increase to almost $51. With the reaction received from this region, we see pricing below 50 dollars again. For the continuation of the rise, it is very important that prices above $50 continue. If it persists above $50, we may encounter an upward movement up to $55. In case the retreat deepens, $45 appears as the first support position.
SOLANA(LEFT)
SOL is priced at $153.50 with a 3.16% gain in value as of the morning hours. When we examine the four-hour chart, we see that there was a breakout and candle closing above the $149.60 resistance level. If this movement continues, a move towards the $160 region may be possible. In case of a withdrawal, the $150 level can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $20,734 with a 2.53% loss in value. When we examine the four-hour chart, we see that there was a downward reaction from the resistance zone of $ 21.70 and the support zone of $ 21 was broken. If the withdrawal movement continues, the $20.26 level can be followed as support. In upward movements, the $21 level appears as an important resistance zone.
WLD
WLD is priced at $10.24 with a 4.13% gain in value as of the morning hours. When we examine the hourly chart, we see a horizontal movement between the $9.295 and $10.51 levels. These two levels can be followed as support and resistance zones. If the resistance zone is broken in upward movements, a move towards the $ 11 level may be possible. In case of a withdrawal, the $ 10 and $ 9.50 levels can be followed as support.
ACH
ACH is priced at $0.03560 with a 1.69% gain in value as of the morning hours. When we examine the hourly chart, we see that the $0.03538 resistance level is broken upwards. If this movement continues, the $0.03650 level could be tested. In case of a pullback, the $0.035 level can be followed as support.
