Record Bitcoin Purchase by MicroStrategy, Blockchain Studies in Shanghai

MicroStrategy Makes Largest Bitcoin Purchase Since 2021
MicroStrategy, the world’s largest Bitcoin holding institution, released its financial statements yesterday. As seen in the tables, company 2. made its largest Bitcoin purchase since 2021 in the quarter. The company purchased 12,333 Bitcoins worth $347 million. The company currently has 152,800 Bitcoin with an average price of 29,672, valued at $4.53 billion. Apart from these, the company is also in 2023 2. It posted earnings of $120.4 million in the quarter.

What’s the Latest on Curve

As it is known in Curve, with the decline after the hacking incident on Monday, the liquidation price of the CRV token-secured loan of Michael Egorov, the founder of the protocol, was approached. The liquidation of this loan, which is worth 34% of CRV’s total market capitalization, will not be good for Curve and DeFi. With yesterday’s news, DeFi organizations and investors are supporting the protocol by taking CRV. Michael Egorov also sold 15.8 million USDT worth of CRVs, reducing his debt to 54 million USD and the liquidation price to 36 cents.

Shanghai Builds Blockchain Infrastructure
Shanghai, China’s largest city and financial center, plans to build a blockchain infrastructure by the end of 2025. In this way, it aims to establish links with Singapore and Hong Kong on topics such as digital assets, transportation, supply chain finance and carbon management. Shanghai’s main goal is to become a global leader in the digital economy.

Ripple’s Chief Legal Officer Discusses Terra Case
Stuart Alderoty, Ripple’s Head of Legal Affairs, responded to recent comments that the Terra case could harm Ripple. He stated that the Terra case has no impact on the Ripple case. Judge Jed Rakoff in the Terra case disagreed with the decision of Analisa Torres, the judge in the Ripple case, and stated that the Howey Test did not distinguish to whom the asset was sold, and therefore it was not correct that the sale to institutional customers was a security and the sale to an individual investor was not considered a security.

What about refunds on Voyager?
An important claim has been made about Voyager, which went bankrupt last year and then came to the agenda many times with its sale to different companies and repayments. The bankrupt crypto company was allegedly subjected to a cyberattack while it was opening the platform to make repayments. Voyager realized 80% of the possible refunds after opening refunds, totaling $490 million in refunds. The cyber-attack is intended to reach customer assets, etc. Darren Azman, one of Voyager’s lawyers, testified that the traps were used to target customers.


BITCOIN(BTC)
Bitcoin is priced at $ 29,628 with a 0.26% loss in value as of today morning hours. After the downward break of 29,000 in Bitcoin, we saw the break of 29,000 and 29,500 levels in the evening hours yesterday, first downward and then upward. Rising up to the 30,000 level, Bitcoin, which could not hold here and then retreated, is currently pricing in the 29,600 region. We can say that 29,500, which is the support level of the channel movement that we have maintained for a long time, will work as support, and if it breaks down, the 29,000 level will be the next support zone. We can say that yesterday’s PMI and Employment data had a positive impact and today’s ADP Non-Farm Data will also be important.

ETHEREUM (ETH)
ETH, which lost 0.67% as of morning hours, is priced at $ 1860. After the downward break in Ethereum, we see that it broke the 50 and 100-day moving averages upwards and rose to the 1880 region, with the rise seen in the market after the return from the 1820 region. We can say that we expect Ethereum, which retreated to 1865 levels with the selling pressure that developed after this rise, to see support from the 1855 region and that the 1845 region will also be important in case of a breakout.

CHAINLINK (LINK)
LINK, which gained 0.16% as of morning hours, is priced at $ 13.11. LINK made a very clear move again, rising to 7.70 resistance after falling to 7.30-7.34 support. Facing selling pressure from here, LINK continues its movement in the range of 7.30-7.70 without breaking its levels. At LINK, if 7.70 is broken upwards, we can say that our next target will be 8.05.

MAKER(MKR)
MKR, which lost 0.75% as of morning hours, is priced at $ 1328. When we look at the daily chart in MKR, we see that Maker rose to 1350 resistance after the 1170 breakout, but retreated from here, re-tested 1170, and with the confirmation of the breakout, it returned to the 1350 level again. We can say that the next target in MKR will be the $ 1520 region.