Serious Decrease in Ethereum Supply
Ethereum supply dropped to the lowest level since August 2022 as of midweek. According to Ultra.money data, Ethereum supply has decreased by 0.872% annually in the last 30 days. On the other hand, the decrease rate after Dencun was 0.246%. Increased activity on the Ethereum network resulted in higher transaction costs, which subsequently burned more fees. Less than 1.12 million Ethereum has been released compared to almost 1.56 million Ethereum burned since Dencun. At current rates, this resulted in a net worth loss of almost 446,000 Ethereum, or approximately $1.62 billion.
Aptos Labs and Google Cloud Formed a Partnership
Aptos Labs and Google Cloud have released Aptos GameStack, a development suite that will revolutionize blockchain gaming by simplifying the integration of Web3 technologies into games. Aptos GameStack aims to make blockchain gaming more accessible and enjoyable for both developers and players by providing advanced tools such as the Aptos SDK for Unity and seamless login solutions.
Memecoin Trend on Solana Network Causes New Records
By the end of the week, the volume of Ethereum’s main rival exceeded $3.79 billion, according to DefiLlama data. Volume of $3.44 billion was reported Friday. Currently, the 24-hour volume is 3.61 billion dollars. The seven-day moving average of active addresses on the Solana network is one of the important KPIs that is constantly increasing. According to the data provided on Friday, 1.2 million active addresses were detected. This has been a level not seen since June 2022. At the same time, nearly 870,000 new addresses were detected. The total transaction fee paid was $3.83 million, or SOL 20,350.
FED Will Announce Interest Rate Decision on Wednesday
When we examine this week’s macro data, we see that it has been a busy week. The FED interest rate decision, which is considered one of the most important data of the week, will be made on Wednesday evening at 21:00. When we look at the expectations, we see that there is a strong possibility that the interest rate will remain constant. FED Chairman Powell’s statements after the decision will be important.
Remilia Founder Claims He Was Hacked
Remilia and Milady creator Krishna Okhandiar, also known as Charlotte Fang, allegedly stated that she was the victim of a hack after large amounts of NFTs were sent to a wallet. The Dumpster DAO on
SBF May Be Sentenced to 40-50 Years
The Department of Justice (DOJ) argues that FTX’s former CEO SBF should receive a prison sentence of 40-50 years. The DOJ justifies this harsh sentence by emphasizing the seriousness of the alleged crimes. These include a large share of fraud and great harm to victims. Prosecutors accuse SBF of embezzling billions of dollars in customer funds. They claim he used these funds to enrich himself, his partners, and other affiliated entities such as Alameda Research. Finally, the DOJ argues that a lengthy prison sentence is necessary to prevent similar crimes and ensure justice for victims.
Grayscale Spot Changes Its Ethereum ETF Application
Grayscale has amended its regulatory filing in which it aims to convert its Ethereum Trust into a spot ETF. The amendment made by the company on March 15 strengthens its previous application in many ways. Grayscale, whose application was previously postponed by the SEC due to its inadequacy in fraud and manipulation, supports the argument that it is sufficient to provide protection against these issues with its latest change. Grayscale Ethereum Trust also has $11.8 billion in assets.
PancakeSwap V4 Introduced
Decentralized exchange PancakeSwap released its fourth version codebase and whitepaper on March 15, according to the announcement. The new version will allow private liquidity pools aimed at reducing gas costs for users and preventing temporary losses for liquidity providers. Additionally, it was stated that the team will create a development fund to help pay for further development of the PancakeSwap protocol.
——————————————————————- —————————–
BITCOIN(BTC)
As of the morning hours, BTC is priced at $68,768 with a 0.55% gain in value. ATH levels were broken and new records were set. However, sales were encountered as of Friday and prices decreased from $ 73,777 to $ 64,500. Currently, the $64,500 level appears to be support. Prices must stay persistently above $68,700 to rise. In this case, $72,000 may be resistance and new ATHs may be seen. In case of pullbacks, $62,000 appears as the first support, and then the $59,000 region appears as strong support. Below, $56,000 may be a support.
ETHEREUM(ETH)
ETH is priced at $3633 with a 0.32% loss of value as of the morning hours. Last week, ETH closed at $3644, down 6.03%. Following the previous rise, it rose to $4094, but encountered resistance here and fell to $3400. Currently, $3400 is seen as support. For the rise, persistence above $ 3723 is required, if this is achieved, there may be rises up to $ 4200. In case of withdrawals, the first support may be $ 3400 again or retreats up to $ 3000 may be seen.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.6278 with a 1.31% gain in value. After rising to $0.75 last week, there was a pullback. The retreat is still ongoing. The 0.63 level works as a resistance position. If there is a break above this level, we may encounter increases up to $0.68. If the withdrawal deepens, there may be a drop to $0.5850.
AVALANCHE(AVAX)
AVAX is priced at $61.46 with a 5.20% gain in value as of the morning hours. AVAX rose 39% last week to close at $58.45. $50 was a critical level, and upon breaking this level, it rose to $61.50, but retreated back to $50. $50 currently appears to be strong support. For the rise, a large breakout and persistence above $60 is required, in which case $70 can be targeted. In withdrawals, the levels below $ 50, $ 46 and $ 43.50 are seen as strong support.
SOLANA(SOL)
SOL is priced at $204.25 with a 1.10% gain in value as of the morning hours. When we examine the hourly chart, we see that the $196 resistance level was broken upwards and at the same time the $200 level was exceeded. If this movement continues, a rise towards the $210 region is possible. In case of a pullback, the $200 and $196 levels can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $19,124 with a 2.48% gain in value. When we examine the four-hour chart, we see that the $17,500 level, which is the support zone, was tested with the downward movement that occurred over the weekend, and the upward movement started with the double bottom formation occurring in this region. LINK, which is moving above the resistance zone of $19, may move towards the $20 level if it stays above this zone. In case of a withdrawal, the $ 18,500 level can be followed as support.
EOS
EOS is priced at $1.0412 with a 2.49% gain in value as of the morning hours. When we examine the hourly chart, we see that the resistance zone of $1.02 has been passed. If this movement continues, a move towards the $1.10 region, which is another resistance area, may be possible. In case of a withdrawal, the broken resistance zone of $ 1.02 and then $ 1 can be followed as support.
SNX
SNX is priced at $4,212 with a 2.64% loss of value as of the morning hours. When we examine the hourly chart, we see that the resistance level of $4.17 is broken upwards. If this move continues, the $4.30 level could be tested. In case of a withdrawal, the $4.20 and $4.15 levels can be followed as support.
