Robinhood Considers Launching Stablecoin
Robinhood is considering launching its own stablecoin, which could open up more access to the crypto space. According to Bloomberg, the move aims to provide Robinhood users with a stable digital asset, providing more stability than volatile cryptocurrencies like Bitcoin. Robinhood’s stablecoin would be pegged to a stable asset like the U.S. dollar to reduce price fluctuations. If launched, the stablecoin would expand Robinhood’s financial product offerings, responding to users’ search for a more stable digital asset for trading and investing.
BTC Holders Make Profit
More than 90% of Bitcoin holders are currently in profit as the price of Bitcoin has risen above $65,000. This significant price increase shows that Bitcoin is in a strong recovery phase after the previous period of stagnation and decline. The increasing investor confidence is reflected in the bullish sentiment prevailing in the market.
Ethereum ETFs Had Their Best Day Since August
Ethereum spot ETFs saw their best day since August, recording $62 million in inflows. This significant recovery comes after weeks of losses and reflects renewed investor optimism for Ethereum. The surge in WTF investments is based on confidence in Ethereum’s long-term prospects, strong use cases, and upcoming technological upgrades. The surge in ETF investments puts Ethereum in a positive light as a viable investment asset in the digital currency space.
BNY Approved by SEC for Crypto Custody
BNY Mellon has received approval from the SEC to offer custody services for a broad range of digital assets beyond its Bitcoin and Ether ETFs. The approval reflects the growing regulatory acceptance of digital asset custody services by established financial institutions. SEC Chairman Gary Gensler noted that BNY Mellon’s structure could serve as a model for other financial entities looking to enter the crypto custody space. This development could pave the way for institutional adoption of crypto custody services and increase market security and investor confidence.
Harris Appeals to Crypto Voters
As the White House race enters the final 40 days, Vice President Kamala Harris is stepping up her efforts to attract crypto voters. Recognizing the significant influence of the crypto community, Harris is strategically aiming to secure their support. Harris’s engagement with crypto advocates reinforces the political importance of this group of voters. By appealing to crypto enthusiasts, Harris aims to leverage their support to strengthen her position in the race, emphasizing the intersection of politics and emerging financial technologies.
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BITCOIN (BTC)
BTC is priced at $65,230 with a 0.13% increase in value as of the morning hours. $66,000 was seen but could not be sustained above it. Pricing between 65,000 – 66,000 can be seen. If permanence is achieved above 66,000, it can go up to 70,000. In pricing below 65,000, a pullback to 64,000 may occur.
ETHEREUM (ETH)
ETH is priced at $2646 with a 0.52% increase in value as of the morning hours. After an increase to $2700, a pullback occurred and the rise is currently continuing. A move to $2800 can be seen in pricing above $2700. In the pullback, $2550 seems to be a strong support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5885 with a 0.36% loss in value. XRP 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 $29.33 with a 0.51% increase in value as of the morning hours. The 29.50 level was seen. Permanence could not be achieved at first, but there is a movement towards that level again. If pricing above $30 is seen, an increase up to $33 can be seen. As the first support, 28.50 seems strong.
SOLANA (SOL)
SOL is priced at $156.58 with a 0.66% increase in value as of the morning hours. It rose to $158. After falling to $154, the rise continues. If it is sustained above $160, a rise to $164 can be seen. As the first support, $154 seems strong.
OUNCE GOLD
The ounce of gold is priced at $2668 with a 0.18% loss in value as of the morning hours. In the 4-hour chart, ATH was refreshed. The 2686 level was seen. $2600 – $2620 works as a major support. $2700 can be seen in the continuation of the rise. In pullbacks, $2660 – $2650 seems to be a strong support.
OUNCE SILVER
Silver is priced at $31.85 with a 0.53% loss in value as of the morning hours. On the 4-hour chart, the price broke the 31.19 resistance level. It is likely to encounter resistance at 32.50 and pullback. In a possible pullback, the price is expected to fall towards the 31.20 and then 28.700 support levels. If the rising band is broken upwards, the rise will likely continue.
