Polymarket Considers Token Launch to Raise Over $50 Million
Polymarket is considering the strategic move of launching its own token with the aim of raising over $50 million. This initiative is designed to increase Polymarket’s operational capabilities and enrich the platform’s functionality. The potential token launch comes at a time when the market is increasingly interested in innovative financial instruments. This move could significantly increase Polymarket’s competitiveness in the decentralized prediction markets sector.
Celestia Foundation Raises $100 Million in Funding Led by Bain Capital Crypto
Celestia Foundation has raised $100 million in a funding round led by Bain Capital Crypto. Other notable investors including Syncracy Capital, 1kx, Robot Ventures, and Placeholder also participated in the funding round, bringing the foundation’s total funding to $155 million. Celestia operates a modular blockchain network that helps other blockchains scale by reducing their data requirements. The new funds will be used to support Celestia’s ambitious development plans, such as increasing its capacity to manage 1 gigabyte blocks, highlighting the revolutionary potential of blockchain scaling.
Over $160 Million Liquidated After Bitcoin Was Rejected at $65,000
Bitcoin experienced a significant rejection at the $65,000 price level, resulting in over $160 million in liquidations in the market. This sudden price drop particularly affected many traders who were forced to close leveraged positions that had anticipated a continued rise in Bitcoin. The liquidation event was extensive, affecting both long and short positions, revealing the high volatility of the cryptocurrency market. This event clearly illustrates the risks of leveraged trading in crypto trading and the critical impact of key resistance levels on market dynamics.
Ethereum Fees Rising Despite Low Annual Active Account Levels
While Ethereum transaction fees are rising, the number of active accounts on the network has fallen to a yearly low. This reveals a paradoxical story on the Ethereum network: while the number of users actively participating in the network is decreasing, transaction costs are increasing. The rising fees are largely due to the continued demand for Ethereum’s decentralized applications and services. Ethereum must explore and implement scalable solutions to address this imbalance and increase user loyalty, thus effectively managing and reducing transaction costs despite constant network usage.
BlackRock CEO Says Bitcoin Is Legitimate and Could Reach $100,000
BlackRock CEO Larry Fink has described Bitcoin as a particularly valuable and legitimate investment during times of economic instability and currency crises. Fink’s endorsement signals a growing trend toward institutional acceptance of Bitcoin. Fink expressed confidence in Bitcoin’s potential, suggesting that the cryptocurrency could reach $100,000. This perspective highlights the fact that Bitcoin is increasingly viewed not just as a speculative asset, but also as a viable hedge against traditional financial uncertainties. This further enhances Bitcoin’s legitimacy in the eyes of institutional investors and the general market.
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BITCOIN (BTC)
BTC is priced at $63,154 with a 0.31% loss in value as of the morning hours. On the 4-hour chart, it has entered an upward trend by breaking the falling trend line. However, although the middle resistance at the 65,000 level has been tested, this level has not been broken and the price is currently consolidating below this level. In the current situation, it seems difficult for the uptrend to continue unless a break above the 65,000 resistance occurs. Otherwise, the price may retreat towards the support point at the 56,600 level. This region stands out as an important support area where the price can experience a recovery. The lowest region in terms of support levels has been determined as 52,555. Breaking the 65,000 resistance is of great importance for the continuation of the rise.
ETHEREUM (ETH)
ETH is priced at $2630 with a 0.71% loss in value as of the morning hours. On the 4-hour chart, it is progressing in an uptrend. The upper resistance at 2,820 has been tested but this level could not be broken. The price is currently consolidating below this level. In the current situation, the 2,820 resistance must be broken for the rise to continue. If this resistance cannot be overcome, the price is likely to fall back to the important support at 2,466.47. The level of 2,373.44 also stands out as an additional support area to be followed in the medium term. In downward movements, the strongest support is at 2,168.07.
RIPPLE (XRP)
XRP is priced at $0.5855 with a 0.15% gain as of the morning hours. ETH is trading at 0.5855 on the 4-hour chart and is showing a sideways trend. The price tested the middle resistance at 0.6100 but could not break this level and is currently consolidating below this resistance. Breaking the 0.6100 resistance is critical for the continuation of the rise. If this resistance is not broken, the price is likely to fall back to the additional support point at 0.5500. If this support level is broken, the risk of a pullback to the stronger support area at 0.5100 may increase.
AVALANCHE (AVAX)
AVAX is priced at $27.17 with a 0.80% loss in value as of the morning hours. AVAX is traded at 27.17 on the 4-hour chart and is progressing in an uptrend. The price tested the upper resistance at 28.00 but could not break this level and is currently consolidating below this resistance. In order for the rise to continue, the 28.00 resistance must be broken. Otherwise, the price is likely to fall back to the important support at 24.69. In case of falling below this support level, additional support at 22.82 should be followed. The strongest support point at lower levels appears to be 21.88.
SOLANA (SOL)
SOL is priced at $146.23 with a 0.98% gain as of the morning hours. SOL is traded at 146.43 on the 4-hour chart and is progressing in an uptrend. The price tested the middle resistance at 150 but could not break this level and is currently consolidating below this resistance. In the current situation, the 150 resistance must be broken for the rise to continue. Otherwise, the price may fall back to the support point at 142.00. In the event of falling below this support level, the stronger support area at 129.50 may come to the fore. Above, the upper resistance at 163.70 stands out as a target to be watched in possible increases.
OUNCE GOLD
The ounce of gold is priced at $2639.20 with a 0.40% increase in value as of the morning hours. ATH was refreshed on the 4-hour chart and the 2640 level was seen. $2600 – $2620 works as a major support. $2648 can be seen in the continuation of the rise. In the pullbacks, $2615 – $2605 seems to be a strong support.
OUNCE SILVER
Silver is priced at $31.13 with a 1.41% gain as of the morning hours. On the 4-hour chart, the price is trading just below the 31.19 resistance level. There is a high probability that it will encounter resistance at this level and pullback. In a possible pullback, the price is expected to fall towards the 30,300 and then 28,700 support levels. If the rising band is broken upwards, the rise will likely continue.
