Injective Plans to Launch Layer-3 Network on Arbitrum Network
Injective has announced plans to launch its own layer-3 network based on technology from Arbitrum, a layer-2 project in the Ethereum ecosystem. Injective’s inEVM will rely on Arbitrum’s Orbit toolkit for its infrastructure, allowing developers to create customizable chains with Arbitrum’s technology while achieving interoperability across multiple ecosystems.
Donald Trump Will Accept Crypto for Campaigns
Former US President Donald Trump announced his intention to accept cryptocurrency for campaign donations at a meeting with buyers of his NFTs. Trump told attendees that he would make cryptocurrencies easier to use and emphasized his support for digital currency. Additionally, Trump criticized President Joe Biden for not understanding cryptocurrency and urged crypto enthusiasts to vote for him. These statements were made at a dinner event where Trump met buyers of the ‘Mugshot Edition’ NFTs. Trump highlighted the success of the NFT initiative, stating that it had reignited market interest.
SEC Targeted Ripple’s Stablecoin
The US Securities and Exchange Commission (SEC) has described Ripple’s upcoming stablecoin as an ‘unregistered crypto asset’. In addition to this situation, the SEC also rejected Ripple’s promise to comply with US securities law because it has licenses from many other jurisdictions. The SEC also argues that the court should impose a heavy penalty on Ripple.
224% Increase in First Quarter Crypto Trading Volume from Robinhood
Revenue from transactions totaled $329 million, up 59% from the previous year. According to Robinhood, the main drivers of this increase were cryptocurrency revenue ($126 million, up 232%) and options ($154 million, up 16%). According to Robinhood, rising stock and cryptocurrency valuations are the main reasons for its 65% growth in Asset Held for Custody (AUC) ($129.6 billion).
Tether Collaborates with Swan for Mining Studies
Tether expanded its mining efforts by collaborating with Swan company’s ‘Managed Bitcoin Mining’ service. Swan’s ‘Managed Bitcoin Mining’ service allows institutional investors to commit at least $100 million to the Bitcoin mining ecosystem. Through this service, the company plans to offer mining operations according to the specific needs of its customers.
Partnership Between Hashkey Cloud and Aptos
Global Web 3.0 infrastructure provider Hashkey Cloud has signed a strategic partnership with the Aptos Foundation to promote the development of applications on the blockchain. This partnership will focus on offerings such as Decentralized Identifiers (DIDs) and regulated Security Token Offerings (STOs). According to the published statement, HashKey DID integration will promote easy verification for users across different platforms. With this functionality, users will be provided with full control over their virtual identity and data.
Ark Invest Reduces Coinbase Assets Again
Ark Invest has once again reduced its holdings of Coinbase shares. On May 7, the business sold 70,616 Coinbase shares worth a total of $15.1 million, which were split among three exchange-traded funds. The stock market’s strong first-quarter earnings report revealed stronger revenue than expectations, but that didn’t stop the move.
SolanaVM Brings Layer-2 EVM and EVM dApps to Solana
The main goal of SolanaVM is to bridge the gap between Solana, a fast blockchain network, and Ethereum, the market leader in DeFi. A total of 68,000,000,000 values currently locked on the EVM are planned to become accessible on Solana. Acting as a bridge, SolanaVM enables developers to seamlessly migrate existing Ethereum applications to Solana.
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BITCOIN (BTC)
BTC is priced at $61,580 with a 0.60% gain in value as of the morning hours. The rise continues after gaining support at $56,600. $60,800 was earned again. It is now a region that can work as support. $66,800 is a critical region, and in case of a break above, increases may be seen up to $72,800. There was a move to the $60,900 region, but support was received from this region again. With the support it receives from here, the first target is likely to be $66,750.
ETHEREUM (ETH)
ETH is priced at $3006 with a 1.00% gain in value as of the morning hours. The rise continues after receiving support at $2820. After permanence above $3050 was achieved, $3100 was also exceeded and was broken again. The $3150 region is the middle part of the horizontal band. For this reason, resistance may be encountered. $3050 was lost. The next support zone appears to be $2920. If there is a break above $3200, a rise to $3380 may be seen.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5228 with a 1.00% 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 permanent. $0.50 is a critical level, and if it closes below this level, there may be a drop to $0.48. $0.50 worked as support. Areas that may be resistance include $0.55 and $0.58.
AVALANCHE (AVAX)
AVAX is priced at $34.49 with a 1.26% 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. There was a pullback to $34. It seems to have received support from this level. With the reaction from here, an increase up to $ 39 may be seen.
SOLANA (SOL)
SOL is priced at $144.82 with a 1.86% gain in value as of the morning hours. When we examine the daily chart, we see that the resistance area of 158 – 160 dollars is important. With the withdrawal experienced yesterday, we saw that there was some reaction movement from the support zone at $ 140. If this movement continues, a move towards the $150 region may be possible.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $14,052 with a 1.09% gain in value. When we examine the hourly chart, we see a horizontal movement between the $13,750 and $14,100 levels. These two levels can be followed as main support and resistance zones. If the resistance zone is crossed in upward movements, the $ 14,400 region may be tested. In case of withdrawals, the $ 13,850 region can be followed as short-term support.
BAKE
BAKE is priced at $0.2715 with a 5.76% gain in value as of the morning hours. When we examine the four-hour chart, we see that the $0.2670 area, which we follow as the resistance zone, has been broken upwards. If this movement continues, the $0.28 region appears as resistance. In case of withdrawals, the $ 0.268 region can be followed as support.
BAND
BAND is priced at $1,572 with a 3.83% gain in value as of the morning hours. When we examine the four-hour chart, we see that the falling trend line has been broken upwards. If this movement continues, the $1.65 region may be tested. In case of withdrawals, the $1.52 region can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2315 dollars with a 0.28% gain in value. When we examine the four-hour chart, we see that there is no persistence above the $ 2400 level and at the same time, the short-term rising trend line is broken downwards. If this withdrawal movement continued, the $ 2300 level and then the $ 2280 level could be followed as support, and these levels were reached. He worked as support. In upward movements, the 2380 and 2400 dollar regions appear as resistance. $2300 is working as support for now. If this level is lost, there may be a decline to 2260 dollars. $2332 appears as the first intermediate resistance zone.
OUNCE OF SILVER
As of the morning hours, silver is priced at $27.60 with a 0.99% gain in value. When we examine the four-hour chart, we see that the $27.65 level, which we follow as the resistance zone, is important. If it persists above this region, the $28 level can be tested. In case of withdrawals, the $ 27.50 region can be followed as support.
