Inflation Data in the USA Announced Above Expectations
American inflation data, both core and headline, were announced above the expectation level on an annual basis. While core inflation increased on a monthly basis, headline inflation was announced at the expectation level on a monthly basis. We see that this is a negative data for Fed members, who frequently emphasize that they need more data for interest rate cuts. The "higher for longer" process regarding interest rate cuts may continue.
Daily Number of New Addresses Reached a New Peak in Solana Network
According to TheBlock data, the daily number of new addresses on the Solana network has reached an all-time high. The number of addresses above the seven-day moving average reached a new peak, exceeding 700 thousand. According to analysts, this increased adoption metric indicates user activity on the network and may positively affect the Solana price.
Grayscale Applies for Low-Fee Version of GBTC
Grayscale has filed with the SEC to launch BTC, a mini, low-fee version of the GBTC ETF that investors in GBTC can receive tax-free through a special dividend. The reason why Grayscale launched such a product is that there is a massive outflow from GBTC and at the same time, GBTC is more expensive in terms of fees than other spot Bitcoin ETFs.
IBIT's Assets Increased by 50% in the Last Ten Days
With Bitcoin reaching an all-time high in recent days, the assets of IBIT, BlackRock's spot Bitcoin ETF, have increased by 50% in the past ten days, reaching $14.7 billion. This value corresponds to approximately 203,754 BTC and is the highest value among spot Bitcoin ETFs. FBTC ranks second with assets of $9.2 billion.
GBTC's Market Share Among Spot Bitcoin ETFs Dropped Below 50%
For the first time since spot Bitcoin ETFs began trading, the market share of Grayscale's ETF, GBTC, dropped below 50%. According to March 12 data, GBTC's assets decreased to 28.5 billion dollars and thus its market share decreased to 48.9%. The value of total assets in Spot Bitcoin ETFs is at $56.7 billion.
Coinbase Sells $1 Billion in Bonds
The stock price reached its highest level in the last 26 months. Coinbase announced its plan to sell $1 billion in debt to investors on Tuesday. With this move, Coinbase, the largest US-based crypto exchange, has provided funds to pay off its existing debts and cover corporate expenses. The bonds will mature in 2030, and it could increase obligations by $1 billion, bringing its debt to $4 billion.
Yuga Labs Requests Court Sanctions Against Ryder Ripps
Ripps, a Yuga Labs artist, may be subject to court action by Yuga Labs for malicious destruction of private keys and misrepresentation. In the response provided on Monday, the defendants requested that the sanction request be rejected. In the case filed last October, it was concluded in favor of Yuga Labs' infringement of the Bored Ape Yacht Club trademark. According to the decision made on October 25, Ripps and Cahen were ordered to give up any NFTs.
Solana Seeks New Solutions to Meet Network Demand
Solana has also seen an increase in user activity recently due to increased network activity. For this reason, there may be blockages in the network from time to time. Solana, who wants to find a solution to this, is looking for new solutions. Solana infrastructure developer Jito Labs has announced that it will shut down memory pooling, one of the company's flagship offerings.
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BITCOIN(BTC)
As of the morning hours, BTC is priced at $72,135 with a 0.97% gain in value. Yesterday, with the opening of the USA, there was an increase up to 73,000 dollars, and as a reaction, a decrease was seen up to 68,650 dollars. $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, $67,000 appears as major support.
ETHEREUM(ETH)
ETH is priced at $4035 with a 1.40% gain in value as of the morning hours. Yesterday, there was a pullback to $3830. After the rise to $4095, retreats continue. It seems to have received support from this level. If this rise continues, a movement up to $4150 can be seen. If a pullback occurs, price movement up to $3880 may 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 $0.6963 with a 1.19% gain in value. With the move yesterday, there was a decline to $0.66, but with support from this region, there was an increase to $0.70. $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 $54.01 with a 2.65% loss in value as of the morning hours. With yesterday's upward movement, there was an increase to almost 58 dollars. With the reaction received from this region, pricing below 55 dollars appears again. For the continuation of the rise, it is very important that prices above $55 continue. If it persists above $55, we may encounter an upward movement up to $60. In case the retreat deepens, $50 appears as the first support position.
SOLANA(LEFT)
SOL is priced at $152.38 with a 0.81% gain in value as of the morning hours. Examining the hourly chart, we see that the short-term falling trend line has been broken upwards and there is also a movement above the resistance zone at $151.70. If it persists above these two areas, the $155 level appears as resistance. If the resistance zone is crossed, a move towards the $158 level may be possible. In case of withdrawals, the $ 150 level can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $ 20.60, with a 0.49% loss in value. When we examine the four-hour chart, we see that the support zone of $ 20.20 was tested with the withdrawal movement yesterday and an upward reaction was received. If this movement continues, the $21 level is an important resistance zone. If there is an upward break of the resistance zone, the $21.50 level could be tested. The $20.20 level can be followed as a support zone.
WAVES
WAVES is priced at $4,360 with a 23.20% gain in value as of the morning hours. When we examine the four-hour chart, we see that the ascending triangle formation has been broken upwards and a strong movement has occurred. If this movement continues, the $4.40 level appears as support. In case of a pullback, the $4.20 level can be followed as short-term support.
AAVE
AAVE is priced at $141,929 with a 4.74% gain in value as of morning hours. When we examine the hourly chart, we see that the resistance zone at $ 137,460 was broken upwards. If this movement continues, the $145 level could be tested. In case of a withdrawal, the $138 level can be followed as support.
