Shibarium Launched
Shiba Inu’s layer-2 blockchain Shibarium was launched on Wednesday night. The Puppynet testnet, which has been used for months ahead of the anticipated Shibarium network, reached 21 million wallets in 4 months. The main goal of Shibarium is to function in the finance and gaming sector with a low-fee ecosystem. With this move, Shiba Inu is expected to steal a significant share in the DeFi space. The network will use BONE, TREAT, SHIB and LEASH tokens.
FOMC Minutes Released
The minutes released yesterday showed that many FOMC members believe that inflation risks persist. They believe that the labor market should slow down further and growth should remain below trend. They also mention a noticeable decline in economic activity, but say that inflation is still unacceptably high and more evidence is needed to be sure that prices are being suppressed. The strength of the labor market is also mentioned. There are some members who believe that inflation risks are still high and that further rate hikes may be needed. Some members are wary of squeezing the market too much. For this reason, we see that some members want to keep interest rates unchanged in July. In addition, the banking sector appears to be robust and strong, so credit tightening could weigh heavily on the economy.
Ripple Appeals SEC’s Objection
In the SEC-Ripple case, while Ripple was the party that got what it wanted, there was an expectation of an objection from the SEC in this process. Last week, the SEC appealed the court’s decision. The Ripple side, on the other hand, stated that the SEC objected due to a difference of opinion, stating that they could not provide a significant justification for repeating the process and applied for the SEC’s objection to be canceled.
Donald Trump’s Crypto Wallet Address Published
Arkham Intelligence published the crypto wallet address of Donal Trump last night. While it was already known that Trump owned Ethereum, other coins he owned were also learned. Trump has WETH, MATIC and USDC coins in his wallet along with ETH, but nearly 97% of his portfolio is Ethereum.
Polygon Labs Makes Deal with Giant Korean Company
Polygon Labs continues to cooperate with giant companies. Yesterday, it was announced that Polygon Labs will collaborate with SK Telecom, the giant Korean-based phone brand. The parties will develop a web3 ecosystem and vet promising start-ups. The company also announced that NFT marketplace TopPort will support the Polygon blockchain.
PayPal Integrated with Ledger
PayPal has integrated with Ledger, a crypto wallet, to enable customers to buy crypto assets without using the app. In a statement made by Ledger, customers in the US will be able to buy BTC, ETH, LTC, BCH coins directly with the cooperation with PayPal.
BITCOIN (BTC)
Bitcoin is pricing at $ 28,657 with a 0.28% loss in value as of today morning hours. Bitcoin, with the downward movement that started after yesterday’s minutes, retreated to 28,800 support and broke it and retreated to the 28,400 region, which we showed as its 100-day moving average and bottom. In Bitcoin, we see that 28,400 remains strong for now, but if a breakout occurs in this region, our next support level will be the 28,600 region. In Bitcoin, we can say that the Grayscale lawsuit news tomorrow may have a significant impact on pricing, and if there is not enough news from there, we can say that the market does not promise very big movements.
ETHEREUM (ETH)
ETH, which lost 0.47% as of morning hours, is priced at $ 1799. With the selling pressure in Ethereum yesterday, it broke down the upward movement it started to realize after the low it saw in November. Afterwards, we see that the 200-day moving average is still positive in Ethereum, which retreated to the support level in the 1780 region. If the 200-day MA breaks down in Ethereum, which has managed to rise above this region for now, then first 1780 and then 1720 levels will be our critical support levels.
AVALANCHE (AVAX)
AVAX is priced at $ 11.40, up 0.18% as of morning hours. We see that AVAX, which has been negatively decoupled for a long time, was not affected by yesterday’s decline and managed to stay above the 11.30 zone, with the price falling to the support level, which can be considered critical in the long term. We can say that the critical zone in AVAX is 10.70-11.30, and if this 50-cent range is broken downwards, it can be stopped.
