New Testnet in Ethereum in the works
Ethereum core developers are preparing to launch a new testnet called Holesky in September. It was stated that the purpose of the testnet was to improve the test environment and address the Ethereum supply challenges experienced in testnets. Ethereum currently has two main testnets, Goerli and Sepolia, with Goerli expected to be retired soon.
Decision in Grayscale-SEC Case Expected This Week
The case was expected to be decided last week, with an announcement expected on Tuesday or Friday. A verdict in the case is expected this week after no decision was reached on Friday. As it is known, Grayscale applied in June 2022 to convert the GBTC ETF into a spot Bitcoin ETF, and after the SEC rejected it, it took the process to court.
18 Billion Dollars of Value Loss in XRP
The market capitalization of XRP, which experienced an intense value gain after the court result, rose to $ 42 billion and a value gain of close to 100% was seen when it was in the region of $ 0.90, the peak level. However, with the subsequent decline and negative news flow, we see that the market value of XRP has dropped to 24 billion levels, close to $ 18 billion.
Oman Establishes Crypto Mining Center
Oman’s Minister of Transport, Communications and Technology announced the establishment of a new data collection and crypto mining center in the Salalah region. The cost of the center is known to be more than 350 million dollars.
Enhancements to Cardano Layer 2 Protocol Hydra
Hydra, the Layer-2 platform on Cardano, has undergone significant changes. Sebastian Nagel, one of the developers of Cardano, who also contributed to the Hydra process, shared the details of the Hydra development in his post. Nagel explained that they have made improvements on Hydra related to off-chain security and performance, new API endpoints and Cardano nodes.
BITCOIN(BTC)
Bitcoin is priced at $ 26,101 with a 0.34% loss in value as of today morning hours. When we look at the hourly chart, we see that Bitcoin has realized a rising but weak movement on the hour after intense selling pressure and a decline to the 25,200 region. We can say that the resistance of the ascending triangle pattern is in the 26,300 region and in case of a breakout, there is a critical resistance level in the 26,600 region. This week, we can say that Powell’s speech on Friday and the likely Grayscale-SEC case decision are two developments that could have a significant impact on pricing.
ETHEREUM (ETH)
ETH, which lost 0.35% as of morning hours, is priced at $ 1679. Ethereum, just like Bitcoin, continues to move in an ascending triangle pattern over the weekend. We can say that the 1695-1700 region is important as the resistance level, and at the same time, if the pattern breaks down, the 1650 region can also work as a support zone.
LITECOIN(LTC)
Litecoin is pricing at $66.48, up 1.90% as of morning hours. LTC continued to rise, breaking its horizontal movement in the range of 63.60-66.00 dollars upwards. It realized its re-test with its return from the $ 67 region. Litecoin, which confirmed the breakout after the re-test, has a bullish target in the range of 3.0%-3.5%.
