Increase in XRP Ledger On-Chain Transactions – Crypto Venture Capital Investments Increased in the First Quarter of 2024

Increase in XRP Ledger On-Chain Transaction Activity

According to Ripple’s Q1 2024 XRP Markets Report, the number of transactions on the XRP Ledger (XRPL) more than doubled from the fourth quarter of 2023 to the end of the first quarter of 2024, and the average transaction cost was almost halved. XRPL on-chain transaction activity increased by 108%, with approximately 251.39 million recorded in Q1 2024, compared to 121.03 million in Q4 2023, according to the report published on May 17.

Crypto Venture Capital Investments Increased in the First Quarter of 2024

Global venture capital investment in crypto companies rose to $2.4 billion in the first three months of 2024, according to data released Monday, a tentative sign that investor interest is returning. Crypto venture capital flows have declined for seven consecutive quarters after peaking at $11.1 billion in the first quarter of 2022, reaching just $1.7 billion in the final quarter of 2023, according to data from PitchBook.

With Genesis Bankruptcy Confirmed, Gemini Earn Will Start Paying Its Customers

Gemini, one of Genesis’ creditors, announced that it will begin returning an initial 97% of the assets owed in kind to customers of the terminated Gemini Earn program by the end of the month. Regarding payment, customers will directly receive the same amount of tokens instead of the dollar value of the tokens they received on a certain date.

Coinbase Sees 30% Chance of Approval of Spot Ethereum ETF by Month End

Coinbase stated that it believes there is a 30% to 40% chance that the SEC will approve spot Ethereum ETFs by the end of the month. Additionally, Coinbase Institutional Research Analyst David Han mentioned that the SEC is not required to approve all spot Ethereum ETFs at once.

Number of New Bitcoin Wallets at Lowest Level

As in early 2018, there was a decrease in new addresses due to decreased interest in Bitcoin projects. While 625,000 addresses were added to the Bitcoin network 6 months ago, 275,000 addresses were added last week. In addition, miner revenues have also fallen.

25 Million Dollars Stolen in 12 Seconds

Anton and James Peraire-Bueno, two MIT graduate brothers, are accused of stealing $25 million in 12 seconds by exploiting a vulnerability in the Ethereum blockchain. The brothers, who face fraud and money laundering charges, could face prison sentences of more than 20 years. Prosecutors allege that the brothers used their advanced technical skills to intercept and modify pending Ethereum transactions. It is claimed that they refused to return the money and laundered the money and hid it.

Tether Prefers US Bonds in Its Reserves

Tether reported a profit of $4.52 billion in the first quarter of the year and announced that it owns $91 billion worth of US Treasury bonds and $5.4 billion worth of Bitcoin. As of March, Tether is the 19th largest holder of US treasury bills, ranking between South Korea and Germany.

Vitalik Buterin Discusses Ethereum Decentralization

Ethereum founder Vitalik Buterin responded to criticism about Ethereum’s decentralization in his blog post. As it is known, while Ethereum is not considered decentralized, especially by US regulators, US regulators also filed a lawsuit against the Ethereum Foundation. While Buterin evaluated MEVs and how to prevent MEVs in his post, he also mentioned that Ethereum staking investors mostly lock their ETHs to staking providers.

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BITCOIN (BTC)

As of the morning hours, BTC is priced at $67,120 with a 1.28% gain in value. After the retest below the horizontal band, the middle part of the horizontal band, that is, the $66,500 level, was tested. Permanence above the horizontal band seems to be achieved. The first support is $66,500, and if pricing continues above this level, there may be a rise to $72,500. New ATH levels can be seen with a break of $72,500.

ETHEREUM (ETH)

ETH is priced at $3127 with a 1.77% gain in value as of the morning hours. Permanence seems to be achieved in the middle part of the horizontal band. The first target could be $3351, which is the upper part of the horizontal band. If the middle part of the horizontal band is lost, $ 3050 appears as the first support. For the continuation of the rise, stability above $ 3100 is required.

RIPPLE (XRP)

As of the morning hours, XRP is priced at $0.5156 with a 1.20% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be sustained. $0.50 is a critical level and this level has been regained. Initial support again appears to be the range between $0.50 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.

AVALANCHE (AVAX)

AVAX is priced at $36.48 with a 2.47% gain in value as of the morning hours. There is a horizontal line between $40 and $31. If a breakout of $39 occurs and persistence is achieved, a rise to $45 can be seen. The $34 level was broken upwards. Therefore, the next resistance zone appears to be $38 and then $40. In case of a pullback, $33.50 is a strong support area.

SOLANA (SOL)

SOL is priced at $177.35 with a 4.31% gain in value as of the morning hours. When we examine the hourly chart, we see that the resistance zone at $175 has broken upwards. If this movement continues, the $180 and then $185 levels may be tested first. In case of withdrawals, the broken resistance zone of $ 175 and below the level of $ 170 can be followed as support.

CHAINLINK (LINK)

As of the morning hours, LINK is priced at $17,097 with a 3.24% gain in value. When we examine the hourly chart, we see that the consolidation zone and in addition the horizontal resistance zone have been broken upwards. If this breakout movement continues, the $17,500 region can be targeted. In case of withdrawals, the $17 and $16,600 areas can be followed as support.

WLD

As of the morning hours, WLD is priced at $ 4,832 with a 2.85% gain in value. When we examine the four-hour chart, we see that there is an upward reaction movement from the lower band of the horizontal movement. If this reaction movement continues, the $5 level can be followed as resistance. In case of a withdrawal, the $4.60 level appears as support.

LPT

LPT is priced at $19,934 with a 5.76% gain in value as of the morning hours. When we examine the hourly chart, we see that there is a break above the $19,700 resistance level. If this movement continues, we see that the $20 level is important in the short term. With persistence above this region, the $20,500 level can be tested.

OUNCE OF GOLD

As of the morning hours, ounce gold is priced at 2450 dollars with a 1.43% gain in value. When we examine the four-hour chart, we see that there is permanence above the $ 2400 level. The new ATH level was renewed with the support it received from $ 2380. The first support level appears to be $2432.

OUNCE OF SILVER

As of the morning hours, silver is priced at $ 32.27 with a 2.45% gain in value. When we examine the weekly chart, we see that the $29-30 area, which has been followed as a resistance zone for a long time, has been broken upwards. If this move continues, the $32.50 level could be tested. As short-term support, the $32 level can be tested.

What is Airdrop?

Airdrop, one of the rapidly growing and interesting applications of the cryptocurrency world, means distributing free crypto money to users.

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