MicroStrategy Wants to Buy More Bitcoin
MicroStrategy plans to offer $500 million of convertible senior notes due in 2032. The resulting funds will be used to purchase more Bitcoin and other corporate purposes. Buyers will have the option to purchase an additional $75 million in bonds within 13 days of the issuance date. These unsecured notes will bear semi-annual interest beginning in December 2024 and mature in June 2032. Beginning in June 2029, MicroStrategy will be able to redeem the bonds for cash as long as at least $75 million of the bonds remain outstanding.
Gensler Expects Approval of Ethereum ETF S1 This Summer
SEC Chairman Gary Gensler stated that approval of the S1 form for the Ethereum ETF could come in the summer. The SEC has already approved 19b-4 forms for many Ethereum ETF issuers, such as VanEck and BlackRock, but S1 forms must also be approved for trading to begin. Bloomberg analyst Eric Balchunas suggested that the process could be accelerated and the possible approval date could be July 4, 2024.
Vitalik Buterin Defends Meme Coins
Vitalik Buterin, co-founder of Ethereum, argued that meme coins have practical uses beyond speculation and detailed seven useful ways to daily life. Despite some skepticism from the crypto community, Buterin believes meme coins can contribute beyond entertainment and speculation. Critics of 0xDesigner and Mathew Gould argue that these coins are useless and point out the difficulties in regulation. Gould notes that meme tokens can support brands or causes, but regulatory issues pose a serious obstacle.
Collaboration Between Ripple Labs and Archax
Ripple Labs announced a partnership with Archax, a digital asset exchange regulated by the UK Financial Conduct Authority (FCA). According to the announcement, the collaboration extension between Ripple and Archax will help institutional investors looking to tokenize real-world assets (RWA) on the XRP Ledger (XRPL). This collaboration is important for the mass adoption of XRP and XRPL in the coming years as competition in the blockchain space increases.
NEAR Foundation Founds Nuffle Labs
NEAR Foundation founded Nuffle Labs with $13 million in funding. This new initiative aims to improve NEAR’s modularity and encourage decentralized development within its ecosystem. Nuffle Labs; NEAR Foundation is strategically located at the intersection of the Ethereum and EigenLayer ecosystems. It aims to increase the efficiency and robustness of the NEAR ecosystem by leveraging the strengths of these various platforms.
Solana Labs Launches Blockchain Customer Loyalty Platform Bond
Solana Labs has launched Bond, a new platform that allows non-crypto-related brands to leverage the power of blockchain technology to engage with customers. The platform leverages the Solana blockchain to provide collectible and limited-edition digital products along with real-world products that Solana says can encourage repeat engagement and increase overall customer value.
$226 Million Exit from Spot Bitcoin ETFs
When we examine the data dated June 13, we see that there was an outflow of $ 226 million from spot Bitcoin ETFs. When evaluated on an ETF basis, the highest outflow was in FBTC with 106 million dollars, and this amount was the second highest outflow in FBTC. GBTC ranked second with an outflow of 62 million dollars. On the entry side, there is IBIT with 18 million dollars.
Ripple Wants to Reduce Its Penalty by Citing the Terraform Case
Ripple wants to reduce the financial penalties proposed by the US Securities and Exchange Commission (SEC) by taking advantage of the recent fines imposed on Terraform Labs. Ripple argued that the SEC’s proposed $2 billion penalty for selling XRP to institutional investors was unreasonable, pointing to the $4.47 billion settlement agreed to by Terraform Labs. Ripple claims that the fine should be closer to $10 million.
Worldcoin Announces Argentina as Operations Center in Latin America
Worldcoin announced that it will make Argentina its ‘regional operations center’ and plans to expand its presence in the Latin American region, especially Argentina. Additionally, Worldcoin announced that it will open iris scanning offices in ’50 locations’ in more than 10 cities in Argentina. Officials also said that Worldcoin will open two centers where citizens can learn about the technology and learn more about the project.
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BITCOIN (BTC)
BTC is priced at $67,500 with a 0.30% gain in value as of the morning hours. The horizontal channel between $72,000 and $60,300 is still maintained. There was an increase up to $70,000, but it has not been permanent for now. If the pullback continues, $66,140 appears as the first major support. As resistance, $70,000 is currently working. Closings above $70,000 are required to continue the rise.
ETHEREUM (ETH)
ETH is priced at $3517 with a 1.39% gain in value as of the morning hours. The $3435 level worked as support. For the continuation of the rise, it is important to maintain stability above $ 3600. If persistence is achieved, an increase up to $4000 may be seen. If a pullback occurs, the first support is likely to be at $3150.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $ 0.4809 with a 0.82% gain in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.45 level, but it could not be permanent. $0.50 is a critical level and this level must be regained. Initial support again appears to be the range between $0.48 and $0.45. Areas where there may be resistance include the $0.50 and $0.52 levels.
AVALANCHE (AVAX)
AVAX is priced at $31.66 with a 2.13% gain in value as of the morning hours. After the horizontal area was broken down, we saw a movement up to the $ 30.60 level, but it started to rise after receiving a reaction from this region. In case of withdrawals, the $30 and $29 zones can be followed as support. The middle region of the horizontal band needs to be regained. In upward movements, if there is persistence above the 36 dollar level, the 40 dollar region can be targeted.
SOLANA (SOL)
SOL is priced at $147.08 with a 0.15% depreciation as of the morning hours. When we examine the four-hour chart, we see that the $150 level, which we follow as the support zone, has been broken downwards. If there is persistence below this region, a movement towards the $140 region may be possible. In upward movements, if there is persistence above the $ 150 level, the $ 155 level can be tested.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $15,413 with a 1.84% gain in value. When we examine the hourly chart, we see that the short-term descending triangle formation has been broken upward. If this movement continues and the resistance area persists above the $15,500 level, the $16 zone can be tested. In case of withdrawals, the $15 level appears as support.
STORJ
STORJ is priced at $0.4601 with a 2.47% gain in value as of the morning hours. When we examine the hourly chart, we see that there is a break above the $0.4560 resistance zone. If persistence is achieved above this region, first the 0.47 and then the 0.50 dollar level can be tested. In case of withdrawals, the $0.45 level can be followed as support.
APT
APT is priced at $8.02 with a 1.65% gain in value as of the morning hours. When we examine the hourly chart, we see an upward reaction from the $7.80 level, which we follow as the support zone. If this movement continues, the $8.10 level appears as resistance. In case of persistence above the resistance area, the $ 8.30 region can be targeted. In case of withdrawals, the $7.90 and $7.80 areas can be followed as support.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2310 dollars with a 0.28% gain in value. There was a decline from $2390 to $2290. The $2290 level is acting as support. The $2307 resistance level was broken upwards. If pricing is seen above 2350, there may be a rise again up to 2390 dollars. For a short-term rise, pricing above $2300 should be maintained.
OUNCE OF SILVER
As of the morning hours, silver is priced at $29.05 with a 0.26% gain in value. When we examine the four-hour chart, we see that the $29 level, which we follow as the support zone, has been tested. In upward movements, the $29.15 level appears as a short-term resistance zone. If persistence is achieved above this region, the $ 29.50 level can be tested.
