IMF Mentioned the Importance of Bitcoin in the Environment of Financial Instability
Bitcoin is becoming an increasingly critical channel for cross-border financial flows in an environment of global financial instability, according to a new report by the International Monetary Fund (IMF). The report sheds light on how Bitcoin’s decentralized structure is being used to bypass traditional banking systems, especially in regions experiencing economic distress or tight capital controls.
Collaboration Between Aptos Labs, Microsoft and SK Telecom
Aptos Labs announced that it is collaborating with Microsoft, Brevan Howard and South Korean wireless telecommunications operator SK Telecom to offer institutions a gateway to decentralized finance. The partnership will offer Aptos Ascend, a suite of end-to-end enterprise solutions including regulatory requirements assistance, tools to protect account and transaction privacy, and built-in features for know your customer (KYC) checks.
BlackRock’s Spot Bitcoin ETF IBIT May Overtake GBTC’s Market Share
IBIT, BlackRock’s spot Bitcoin ETF, is approaching the market share of Grayscale’s Bitcoin Trust ETF. According to the data, BlackRock’s IBIT recorded the second-lowest daily inflow of $24.9 million on April 17, and its lowest day on April 9 with an inflow of $20.4 million. While GBTC’s market share, which currently owns $19 billion worth of Bitcoin, is 36.8%, IBIT’s market share reached 32.6%. There is a total of $16.8 billion worth of Bitcoin in IBIT.
Collaboration Between RWA Platform Ondo Finance and Noble
RWA platform Ondo Finance announced on Thursday that it is collaborating with asset issuance chain Noble to bring tokenized US Treasury offerings to the Cosmos ecosystem. The first asset Ondo plans to issue locally through Noble is USDY, a tokenized note backed by short-term US Treasuries that is targeting the end of the second quarter of this year and offers an annualized yield of 5.2%. Ondo’s expansion into Cosmos means its token offerings will be integrated into more than 90 blockchains in the Cosmos ecosystem, increasing adoption of its products, which are supported by US Treasuries as a yield-generating savings, payment and collateral asset.
DeFi TVL Value Increased to 100 Billion Dollars
DeFi’s TVL value fell below $36 billion in the last quarter of 2023, but quickly recovered and reached $97 billion in the first quarter of 2024. Since the beginning of this year, it increased by 81% last week, reaching $98 billion, the highest level in two years. Messari reported slightly higher TVL figures on April 18, noting that DeFi collateral increased by 65.6% from the previous quarter, reaching $101 billion. This growth was attributed to the increase in asset prices and liquid repurchases.
1.7 Billion Dollars Transferred to Wallets During BTC Drop
According to the latest data from CryptoQuant, more than 27,700 BTC worth more than $1.75 billion were sent to savings addresses in the 24-hour period between April 16-17. Previously, on March 23, when the price of BTC was $63,500, 25,500 BTC was sent to the savings address in one day. This data shows that high levels of buying occurred around $63,000. This indicates that large and determined investors see Bitcoin as a long-term investment tool and maintain their confidence.
Tether Announces 4 New Configurations
The company’s USDT stablecoin will be managed by a team called ‘Tether Finance’, while another department called ‘Tether Power’ will handle the company’s Bitcoin mining investments. A third division, ‘Tether Data’, will oversee strategic investments in artificial intelligence (AI) and other technological areas. Finally, the unit called ‘Tether Edu’ will host various educational initiatives.
Ethereum Protocol Is Inspired by Bitcoin Mining
Heroglyphs is a system aimed at incentivizing Ethereum solo stakers. This system aims to reward and incentivize Ethereum solo stakers by mimicking elements of the Proof of Work system. Heroglyphs mining ensures that all validators receive rewards for their participation, regardless of their stake size or whether they are selected as block bidders.
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BITCOIN (BTC)
BTC is priced at $62,000 with a 2.20% loss of value as of the morning hours. There was a pullback after rising to $64,000 yesterday. Due to the effects of the news at night, pricing was below 60,000 dollars, but it received a reaction and increased. $60,000 seems to be the support level for now, but if it breaks down, there may be a retreat to $58,000. If stability above $64,000 is achieved, a rise to $68,000 may be seen.
ETHEREUM (ETH)
ETH is priced at $2996 with a 2.19% loss of value as of the morning hours. After rising to $3093, the retreat deepened and there was a retreat to $2866 again. It seems to have received a reaction from this level for now. A close above $3100 is required for the continuation of the rise. If $2866 breaks downwards, there may be a decline to $2650.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.4851 with a 3.46% loss in value. With the decline in the market, we see that $0.4235 liquidity is taken in XRP. After this level is taken, the upward movement continues. $0.50 is an important level and it was rejected once again. In case of an upward break, a rise up to $0.55 may be seen. If it is rejected at $0.50, a drop to $0.40 may be observed.
AVALANCHE (AVAX)
AVAX is priced at $33.62 with a 3.53% loss in value as of the morning hours. After falling to $30, there seems to be a reaction at this level. $38 is a critical region, and in pricing above this level, the $40 band can be seen again. If there is a loss in the $ 32.00 region, there may be a drop to $ 25.
SOLANA (SOL)
SOL is priced at $138.13 with a 2.82% loss in value as of the morning hours. When we examine the hourly chart, we see a horizontal movement between the $128 and $142 levels. These two levels can be followed as main support and resistance zones. If the $142 level, which is the resistance zone in upward movements, is broken, a move towards the $150 region may be possible. In case of a pullback, the $135 and $130 levels can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 13,320, with a 4% loss in value. When we examine the hourly chart, we see a horizontal movement between the $12,860 and $14 levels. It is possible to say that this horizontal movement is similar to Solana’s hourly chart. We see that the $ 13,500 level is an important short-term resistance in upward movements. If it persists above this region, we may see a movement towards the $14 level. In case of withdrawals, first $ 13 and then $ 12,860 levels can be followed as support.
APT
APT is priced at $9.1032 with a 4.17% loss in value as of the morning hours. When we examine the hourly chart, we see that the $8.65 region, which we follow as the support zone, was tested with the downward movement that took place in the early hours of the day, and an upward movement took place from this region. If this reaction movement continues, the $ 9.65 region can be followed as resistance. In case of a withdrawal, the $ 8.80 region can be followed as support.
MATIC
MATIC is priced at $0.6468 with a 4.29% loss in value as of the morning hours. When we examine the hourly chart, we see that there is a descending channel movement. With the downward movement in the early hours, we see a reaction movement at the $0.61 level, which is the bottom area of the channel movement. This region can be followed as support. In upward movements, the $0.67 region, which is the channel top area, can be followed as resistance.
