Non-Farm Employment in the USA Received Much More Than Expected, $500 Million Unlocking in Avalanche and Aptos in February

Non-Farm Employment in the USA Reached Much Above Expected

The labor market continued to show great strength in January, according to the nonfarm payrolls report. The US announced 353,000, versus economists' forecasts of 180,000 and 333,000 in December. The unemployment rate remained stable at 3.7%, despite expectations that it would rise to 3.8%.

$500 Million Unlocking in Avalanche and Aptos in February

On February 11, Aptos will release approximately 25 million tokens, worth $222 million at current value. This represents more than 7% of the total supply of the token in circulation. On February 21, 9.5 million tokens worth $344 million at current prices will be unlocked by Avalanche, which aims to scale to 100,000 TPS. These tokens account for 2.6% of all AVAX tokens unlocked, bringing the total amount to 60%.

Genesis Asks Bankruptcy Court to Approve $1.4 Billion Sale of GBTC Shares

Genesis Global Capital, a bankrupt crypto lender, has filed a new lawsuit in U.S. Bankruptcy Court seeking permission to sell approximately $1.6 billion worth of escrow assets. Genesis, a subsidiary of Digital Currency Group, holds approximately $1.4 billion worth of Grayscale Bitcoin Trust shares, approximately $165 million worth of Grayscale Ethereum Trust shares, and approximately $38 million worth of Grayscale Ethereum Classic Trust shares. The court will convene at its next hearing on Thursday, February 8, to consider the shortening of the relevant periods requested by the company.

Tether Broke Profit Record: $2.85 Billion Increase in the 4th Quarter of 2023

Stablecoin issuing company Tether saw a record increase in net profit of $2.85 billion in the fourth quarter of 2023. Approximately $1 billion of this profit was attributed to net operating earnings derived primarily from interests in the U.S. treasury. The remainder was primarily attributed to the appreciation of gold and Bitcoin reserves.

Ripple's XRP Services Will Go Live in the USA

Ripple has announced plans to expand its Ripple Payments services in the United States, according to a statement from Senior Director W. Oliver Segovia. Ripple aims to introduce new product updates driven by money transmitter licenses (MTLs) that cover a significant portion of states. Ripple, which conducts 90% of its business outside America, aims to strengthen its global position by improving its services in the US market.

BlackRock and Fidelity's Spot Bitcoin ETFs Ranked in the Top Ten for Highest Inflows in January

BlackRock and Fidelity's spot Bitcoin ETFs were among the ETFs with the highest inflows in January, totaling nearly $4.8 billion. According to the data, there was an inflow of 2.6 billion dollars into BlackRock's ETF in January, while there was an inflow of 2.2 billion dollars into Fidelity's ETF. Additionally, Grayscale's Bitcoin ETF was among the ETFs with the highest outflow in January. There was an outflow of approximately $5.7 billion from Grayscale's Bitcoin ETF in January.

Bitcoin Volume Reached Its Highest Monthly Level in January 2024 Since September 2022

According to data from The Block, Bitcoin's on-chain volume in January 2024 reached its highest level since September 2022 and was also more than triple its September 2023 volume. Additionally, $1.21 trillion worth of Bitcoin was moved on-chain in January.

JP Morgan Thinks Stablecoin Market Surge Is Increasing Crypto Liquidity

JP Morgan noted a significant increase in stablecoin market value. This is seen as an indicator that could mean good news for the crypto ecosystem in general. After experiencing a decline with the market value falling to its lowest level in October 2023, the stablecoin industry is moving towards the top again with an increase of $ 9 billion by January 2024.

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BITCOIN(BTC)

As of today morning, Bitcoin is priced at $42,680 with a 0.23% gain in value. After breaking the middle region of the horizontal band, it entered the lower region again. Currently, it has made a retest in the middle of the horizontal band and continues to decline. It received a good upward reaction after receiving support from the first support zone overnight. $43,000 is critical, and breaks above this level may cause a rise again up to $44,500. In the continuation of the decline, the first support zone appears to be $ 42,000.

ETHEREUM(ETH)

Ethereum, which gained 0.14% in value as of the morning hours, is priced at $ 2292. We are right in the middle of the horizontal band right now. In case of a downward break, we may encounter a decrease up to 2167 dollars. In an upward break, the first resistance zone appears to be $2400. $2200 is the major support level, and if there is an upward reaction from here, the first target may be $2360.

RIPPLE(XRP)

As of the morning hours, XRP is priced at $0.5040 with a 0.12% gain in value. $0.50 is a strong support zone and it is very important to maintain this level. In case of a downward break of the 0.50 level, the first support zone appears to be $0.48. If there is an upward break, a rise of up to $0.54 may be seen.

AVALANCHE(AVAX)

AVAX is priced at $34.88 with a 0.03% gain in value as of morning hours. The strong support level of $34 was regained. It is important to maintain permanence above this level. If there is a break below $32, there may be a possibility of a pullback towards the next support level at $31. Therefore, staying above $34 is of great importance. If prices above 36 dollars are seen, an increase up to 39 dollars may be seen.

SOLANA(LEFT)

SOL is priced at $96 with a 0.53% gain in value as of the morning hours. When we examine the chart, we see that the $ 102.3 level was tested with the upward movement on Friday and there was a retreat due to the selling pressure from this region. In addition, we see an image similar to the double bottom formation at the $94.5 level, which we follow as the support zone. If the reaction from this region continues, a movement up to the 100 dollar region may be seen. In case the support zone breaks downwards, the $90 level can be followed as support.

CHAINLINK(LINK)

As of the morning hours, LINK is priced at $17,918 with a 4.24% gain in value. When we examine the daily chart, we see that the horizontal movement between the $ 13 and $ 16,900 levels has been broken upwards. If there is persistence above the resistance level of $16,900, a rise towards the $19 level may be possible. In case of a withdrawal, the $17 level can be followed as support.

BAND
BAND is priced at $1,904 with a 3.93% gain in value as of the morning hours. When we examine the daily chart, we see that the horizontal movement between the $ 1,828 and $ 1,552 levels has been broken upward. If persistence is achieved in this region, the 2 dollar level can be tested. In case of a withdrawal, the $1.85 level can be followed as support.

FTM

FTM is priced at $0.3558 with a 2.10% gain in value as of the morning hours. When we examine the four-hour chart, we see that there is an upward reaction from the support zone of $ 0.3456. If this movement continues, the $0.37 level may be tested. In case of a withdrawal, the $0.35 level can be followed as support.