Nasdaq Files Polkadot ETF Application for 21Shares
Nasdaq has filed with the SEC for a Polkadot (DOT) spot ETF under the name 21Shares. The ETF would track the spot price of DOT and provide regulated access to investors. 21Shares already offers a physically-backed Polkadot ETP that trades in Europe under the ticker ADOT. The firm is also seeking ETF approval for XRP and Solana (SOL).
21Shares also plans to use staking in its Ethereum ETF, while Grayscale is also working on its own Polkadot ETF. Tuttle Capital previously proposed a 2x leveraged Polkadot ETF, but withdrew the plan. Following the application, a slight increase was seen in the DOT price.
US Stablecoin Law Coming Soon
Bo Hines, the Trump administration’s digital asset advisor, stated that stablecoin regulation in the US could become law in the next two months. Emphasizing that the process has accelerated with the Senate Banking Committee’s approval of the GENIUS Act, Hines said that the bill will introduce collateral rules for stablecoin issuers and require full compliance against money laundering.
US Treasury Secretary Scott Bessent stated that stablecoins are a critical tool for preserving the dollar’s global reserve currency status. While the dollar continues to dominate the $230 billion stablecoin market, the new law aims to strengthen this position. The Trump administration plans to increase its influence in financial markets by expanding the use of digital dollars.
Strategy Launches New Stock Offering to Buy $500 Million in Bitcoin
Strategy plans to raise $500 million by issuing 5 million shares of “Series A Perpetual Strife Preferred Stock” to fund its Bitcoin purchases. These shares, which have a fixed dividend rate of 10% annually, can increase to 18% with compound interest in the event of delayed payments. Morgan Stanley, Barclays Capital, Citigroup Global Markets and Moelis & Company are providing financial advisory services on the issuance process.
The company also purchased an additional 130 Bitcoins last week, bringing its total BTC holdings to 499,226 BTC. The combined value of these assets is around $41.6 billion, with the Strategy currently holding more than 2% of the Bitcoin supply.
Solana’s CME Futures Lag Behind BTC and ETH
Solana (SOL) futures opened its first day on the Chicago Mercantile Exchange (CME) with $12.3 million in volume and $7.8 million in open interest. While those figures are down compared to the volumes seen when Bitcoin (BTC) and Ethereum (ETH) futures launched, they’re off to a more balanced start relative to their market cap, according to K33 Research. Solana’s launch on the CME coincided with a downtrend in the market, which limited demand.
Bitcoin’s CME futures opened with a first-day volume of $102.7 million at the height of the 2017 bull market, while ETH futures opened with a volume of $31 million in 2021. Since SOL’s market cap is lower than BTC and ETH, the launch performance is not directly comparable. Additionally, Solana’s launch occurred without a major catalyst and coincided with a risk-averse market.
Xapo Bank Launches Bitcoin Collateralized Loan Service
Xapo Bank has launched USD loans with Bitcoin collateral to provide liquidity to investors looking to hold Bitcoin assets. Qualified members will be able to borrow up to $1 million against their Bitcoin holdings. Loans are available with flexible repayment options of 30, 90, 180 or 365 days, and the loan-to-value ratio (LTV) ranges from 20% to 40%.
Xapo Bank aims to restore confidence in the sector, which was shaken by the collapse of centralized crypto lending platforms such as Celsius and BlockFi in 2022. Operating as a regulated and licensed bank, Xapo offers investors access to liquidity without selling their Bitcoin assets. Users can apply by calculating their credit limit via the Xapo Bank app and receive the funds directly into their bank accounts after approval.
Metaplanet Increases Bitcoin Purchases
Metaplanet continues its Bitcoin accumulation strategy by purchasing an additional 150 BTC worth $12.5 million, bringing its total holdings to 3,200 BTC. The purchase, which was made at an average price of $ 83,508, brought the company’s Bitcoin investments to $ 266.2 million. The company’s CEO Simon Gerovich emphasized that these purchases were part of its Bitcoin accumulation plans.
Metaplanet also aims to purchase more Bitcoin by issuing bonds worth 2 billion yen (about $ 13.3 million). In line with its strategy, which started in April 2024, it aims to reach 10,000 BTC by the end of 2025 and 21,000 BTC by the end of 2026. Metaplanet’s shares have increased by 15.8% since the beginning of the year and have increased by 1,819% in the last year.
EOS Network Rebrands as Vaulta
EOS Network announced that it has rebranded as Vaulta in order to combine traditional finance and DeFi. This transformation, planned to take place in May 2025, will also include a token swap process. Vaulta aims to offer fast transactions, blockchain integration, and decentralized data management by focusing on web3 banking. It also plans to facilitate the industry transition by establishing a Banking Advisory Council consisting of traditional finance and blockchain experts.
The new platform will be integrated with the Bitcoin-based digital banking solution exSat and will focus on four main areas. These can be listed as asset management, consumer payments, portfolio management, and insurance. Built on EOS’s existing infrastructure, Vaulta aims to attract institutional investors to the DeFi ecosystem by offering blockchain-based financial solutions. The token conversion process and other developments regarding the platform will be announced in the coming months.
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BITCOIN (BTC)
BTC is trading at $83,000 levels with a 0.34% increase in value as of the morning hours. The $82,350 level remains as support, but if selling pressure increases, the price may move down.
In the negative scenario, the $82,350 level can be followed as the first support point. Below this level, $80,107 is in the support position. If the decline continues, the $78,270 and $76,753 levels will be critical support areas. In particular, losing $76,753 may cause the price to decline to $74,408.
In the positive scenario, the $84,757 level stands out as the first resistance point. If this level is exceeded, an increase to $86,704 may be seen. Above, the $89,649 region can be followed as a strong resistance area.
ETHEREUM (ETH)
ETH is priced at $ 1,933 as of the morning hours with a 0.10% gain in value. ETH, which has been following a horizontal course for about a week, experienced a slight pullback due to selling pressure while approaching the $ 1,954 resistance.
In the negative scenario, the $ 1,867 level can be followed as the first support point. If this zone is broken, the $ 1,757 level stands out as a strong support zone. In a deeper decline, the $1,665 level will be the main support point.
In the positive scenario, the $1,954 level could work as the first resistance point. If this level is exceeded, the $1,997 resistance could be tested. In a stronger rise, $2,075 and $2,153 levels can be targeted.
RIPPLE (XRP)
XRP is trading at $ 2.29 levels with a 0.40% gain as of the morning hours. In the negative scenario, the $ 2.27 level stands out as the first support point. If this level is lost, the $ 2.21 level can be followed. In the event of a deeper decline, the $ 2.13 and $ 2.08 levels will be strong support areas.
In the positive scenario, the $ 2.37 region is the critical resistance. If this level is exceeded, a movement towards $ 2.46 and then $ 2.55 can be expected. Especially closing above $ 2.46 could pave the way for a stronger rise in XRP.
AVALANCHE (AVAX)
AVAX is trading at $ 19.07 levels with a 0.53% increase in value as of the morning hours. Breaking the $ 18.96 level will be critical for the continuation of the upward movement.
In the positive scenario, the $ 19.74 level can be followed as the first resistance point. If this level is exceeded, the $ 21.03 region can be tested. In a stronger bullish scenario, $21.83 and then $22.92 levels can be targeted.
In the negative scenario, the $18.14 level stands out as the first support point. In case this level is lost, $17.29 and then $16.20 supports can be followed. Especially if the $ 16.20 level is lost, the price may pull back to the $ 14.90 region.
SOLANA (SOL)
SOL is traded at $ 125.70 levels with a 0.38% increase in value as of the morning hours. With the break of the $ 126.71 support, the price is approaching the $ 122.24 level.
In the positive scenario, the $ 126.71 level can be followed as resistance. If this level is exceeded, $ 135.47 can be tested again. For a stronger rise, the $147.06 level can be targeted.
In the negative scenario, the $122.24 level is watched as the first support. Below this level, the $118.17 support zone will be important. Especially if $ 118.17 is lost, selling pressure may increase and the price may decline to $ 112.54.
