Polygon Plans to Switch MATIC to POL Token on September 4 – Entry Continues in Spot Bitcoin ETFs

Polygon Plans to Switch MATIC to POL Token on September 4

Following community approval of the proposal, Polygon will perform a mainnet upgrade on September 4, 2024, switching from its native token, MATIC, to a new token with POL ticker and new smart contracts. After the upgrade, POL will initially replace MATIC as the primary token for gas fees and staking within the network. POL is expected to maintain MATIC’s current distribution and total supply.

Entry Continues in Spot Bitcoin ETFs

When we examine the data dated July 19, we see that there was an inflow of $ 84.7 million in spot Bitcoin ETFs, thus continuing the inflow series. When evaluated on an ETF basis, BlackRock’s IBIT fund ranks first with an inflow of 102.67 million dollars. FBTC ranks second with 2.78 million dollars. On the exit side, GBTC stands out with 22.54 million dollars.

21Shares Launches Injective ETP

Asset manager 21Shares has launched an Injective ETP product to be traded on Euronext exchanges. Injective thus joins a small group of cryptos offered to investors through traditional financial products. Injective Staking Exchange Traded Product (AINJ) will track Injective’s performance and capture staking yield for reinvestment into ETP. It will be listed on the Euronext Paris and Euronext Amsterdam stock exchanges with the support of 25 financial institutions, including major players such as Interactive Brokers, Saxo Bank, Swissquote and eToro. The management fee for the product is determined as 2.5%.

Donald Trump May Declare Bitcoin as a Strategic Reserve Asset, According to Industry Sources

It is said that former US President Donald Trump will make an important announcement at the Bitcoin 2024 Conference to be held in Nashville. According to industry sources, the former president may have plans to launch Bitcoin as a strategic reserve asset for the United States. This rumor is creating great excitement among crypto investors and advocates. Bitcoin-friendly political leaders have long advocated for BTC to be considered a strategic reserve asset.

Valour Inc. Launches NEAR ETP

Valour Inc., a subsidiary of DeFi Technologies, has launched the first exchange-traded product (ETP) for the NEAR token on the Spotlight Exchange in Sweden, providing safe and diversified exposure to the NEAR ecosystem. Valour NEAR ETP enables participation in a decentralized web platform that aims to redefine the future of digital finance by offering individual and institutional investors reliable, secure and diversified exposure to the innovative and rapidly growing NEAR ecosystem.

Bank for International Settlements Brings Tighter Regulations to Stablecoins

The Bank for International Settlements (BIS) has introduced new regulations that could significantly impact stablecoins such as Tether’s USDT and Circle’s USDC that run on public blockchains. Additionally, the Basel Committee on Banking Supervision published a report outlining new rules regarding bank exposure to crypto assets. The new rules require banks to provide detailed disclosures about their crypto activities and meet strict liquidity standards.

Hack Attack Happened on India-Based Stock Exchange

WazirX, an India-based crypto exchange, announced yesterday that the hacking attack was correct and that a total of $230 million worth of crypto money was stolen. Additionally, the company stated that the wallet where the hack occurred has been operated by a digital asset storage and wallet infrastructure company called Liminal since February 2023. WazirX said the attack was caused by a mismatch between the information displayed in Liminal’s interface and the information actually signed. The stolen cryptocurrencies include $96 million worth of SHIB, $52 million worth of ETH, and $11 million worth of MATIC.

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BITCOIN (BTC)

As of the morning hours, BTC is priced at $64,096 with a 0.17% gain in value. When we examine the daily chart, we see that after the strong upward movement last week, this week has been calmer and there has been some correction movement in the last two days. In downward movements, the 64 thousand dollar region appears as a critical short-term support zone. If this region breaks downwards, the $63,200 level can be followed. In upward movements, the 65 thousand dollar level can be followed as resistance.

ETHEREUM (ETH)

ETH is priced at $3420 with a 0.20% loss of value as of the morning hours. When we examine the hourly chart, we see a horizontal movement between the $3375 and $3500 levels. These two levels can be followed as main support and resistance zones. The intermediate resistance zone is the $3450 level. If the resistance zones are crossed in upward movements, the $ 3600 level can be followed.

RIPPLE (XRP)

As of the morning hours, XRP is priced at $0.5527 with a 3.98% loss in value. When we examined the daily chart, we saw that there was a strong downward selling pressure at the $ 0.64 level, which we followed as a resistance zone after the strong movement in the past few days. With this movement, XRP broke the $0.56 level, which we follow as the support zone, and may test the $0.54 region if the movement continues. In upward movements, the $0.57 – $0.58 region appears as an important resistance area.

AVALANCHE (AVAX)

AVAX is priced at $27.02 with a 0.44% loss in value as of the morning hours. When we examine the four-hour chart, we see that it looks similar to the head-and-shoulders (OBO) formation. The neckline of this formation appears at $26.60. In case of a downward breakout movement, the $26 level may be tested. In upward movements, the $27.50 level is an important resistance point.

SOLANA (SOL)

SOL is priced at $161.14 with a 1.20% gain in value as of the morning hours. When we examine the daily chart, we see that the $155 area, which we follow as the resistance zone, has been broken upwards. If this movement continues, the $165 level can be followed. In case of withdrawals, the $155 and $150 levels appear as support.

CHAINLINK (LINK)

As of the morning hours, LINK is priced at $ 13,595 with a 0.50% gain in value. When we examine the four-hour chart, we see that the falling trend zone and the $14,500 area are important resistance zones. If it persists above this region, the $15 level can be tested. In case of withdrawals, the $ 13,500 region can be followed as support.

FTM

FTM is priced at $0.4816 with a 1.12% gain in value as of the morning hours. When we examine the hourly chart, we see that there is a short-term horizontal movement. In case of upward movements, if the $ 0.4850 level is broken, the $ 0.50 level can be followed. In case of withdrawals, the $0.47 region can be followed as support.

OUNCE OF GOLD

As of the morning hours, ounce gold is priced at 2423 dollars with a 0.90% loss in value. When we examine the daily chart, we see that after the horizontal movement broke upwards, it returned to the horizontal region with a retreat movement and the breakout movement was invalid. The $2400 level appears as support in downward movements.

OUNCE OF SILVER

As of the morning hours, silver is priced at $29.48 with a 1.18% loss in value. When we examine the daily chart, we see that the downward movement has accelerated with the downward break of the $ 30 level, which we follow as the support zone. If this movement continues, the $29.40 and $29 levels appear as important support areas.

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