Solarier Reaches $80 Million Valuation with $12 Million Seed Investment Round
Solayer Labs has closed a $12 million seed round led by Polychain Capital, bringing its valuation to $80 million. Similar to Ethereum’s EigenLayer protocol, it allows users to re-lock their staked assets across different protocols to earn additional rewards. Solayer focuses on native dApps on Solana and has quickly re-staking over $186 million in assets. The company plans to expand its team, integrate with new protocols, and launch its native token.
Bitwise Bitcoin ETF to Buy Assets of Osprey Bitcoin Trust
Bitwise Bitcoin ETF (BITB) has reached an agreement to acquire all of the assets of Osprey Bitcoin Trust (OBTC). OBTC unitholders will receive BITB shares as part of OBTC’s liquidation distribution. The move is part of Bitwise’s expansion into the cryptocurrency market, including its acquisition of ETC Group. BITB has a 4.69% share of the total spot Bitcoin ETF market and significant daily trading volume.
Trump Adds RFK Jr. to Transition Team as He Faces New Indictment
Former President Donald Trump has added former Democrat Robert F. Kennedy Jr. to his transition team as he faces a new federal indictment. Kennedy endorsed Trump after suspending his independent presidential campaign and joined the Trump team. Trump is trailing Vice President Kamala Harris in national polls. The indictment accuses Trump of trying to overturn the results of the 2020 election and includes charges including conspiracy and obstruction.
Russia to Begin Crypto Payment Trials in Response to US Sanctions
Russia will begin trials on September 1, 2024, on cryptocurrency exchanges and cross-border transactions using digital tokens. The trials aim to provide a solution to payment difficulties caused by US sanctions and facilitate ruble-to-crypto exchanges. If successful, these trials could lead to the launch of official cryptocurrency platforms by 2025 and could significantly change Russia’s financial system.
Celsius Begins Creditor Distribution as Bankruptcy Process Nears End
Celsius Network has begun distributing 93% of its $3 billion in approved cash and crypto to over 251,000 creditors across 165 countries. This follows the approval of its restructuring plan earlier in the year. Despite challenges in the distribution process, Celsius continues to resolve issues and regularly retry distributions. The company is transitioning to Mining NewCo as it completes its bankruptcy process.
Sony Takes New Step with Launch of Ethereum Layer-2 Blockchain Test Network
Sony Group has launched the “Minato” testnet for its Ethereum Layer-2 blockchain, Soneium. The initiative aims to attract developers and increase blockchain adoption. The testnet is powered by Astar Network and offers a variety of digital assets and development tools. Sony’s Soneium Spark program aims to support developers with funding and industry partnerships. More than 50 projects are already being built on the platform.
BlackRock Launches Ethereum ETF on Brazil’s B3 Exchange
BlackRock has launched an Ethereum ETF on Brazil’s B3 exchange, following its successful launch of a Bitcoin ETF earlier this year. Trading under the ticker ETHA39, the ETF offers Brazilian investors access to Ethereum and represents shares of the BlackRock Ethereum Trust in the US. The ETF will trade at a starting price between R$40 and R$50, and early investors will be incentivized by a reduced management fee for the first year. The move reflects the interest in digital assets in Brazil.
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BITCOIN (BTC)
BTC is priced at $59,400 with a 0.05% increase in value as of the morning hours. An increase of up to $65,000 was achieved but could not be sustained. A pullback of up to $58,000 was experienced. $58,000 seems to be a strong support for now. Prices above $62,800 are required for an increase.
ETHEREUM (ETH)
ETH is priced at $2480 with a 0.95% increase in value as of the morning hours. There was an increase from $2570 to $2820. Permanence could not be achieved at this level. A decrease occurred to $2400. If a breakdown occurs below the $2400 level, pullbacks to $2330 may be seen. If $2820 is broken upwards, pricing up to $3000 may be seen.
RIPPLE (XRP)
XRP is priced at $0.57 with a 0.72% increase in value as of the morning hours. Persistence above $0.60 will be quite positive. A pullback to $0.5545 occurred. In pullbacks, a pullback to $0.5350 may now occur. In prices above $0.60, increases to $0.70 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $24.14 with a 0.12% increase in value as of the morning hours. There is pricing below $25 again. With the reaction it will receive from this region, an increase of up to $29 may occur. If the pullback deepens, the price may go up to $22.
SOLANA (SOL)
SOL is priced at $148 with a 0.84% increase in value as of the morning hours. There was another pullback from $162 to the $145 region. If it reacts from this level, a rise to $157 may occur. If the pullback continues, the $137 region looks strong.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2508 with a 0.65% loss in value. After the ATH was renewed, prices below $2500 were seen, but we are above $2500 again. $2535 is now our first resistance zone. If there is a break above this level, ATH can be renewed again. The $2470 and $2465 range seems strong as strong support in pullbacks.
OUNCE SILVER
Silver is priced at $29.60 with a 1.24% loss in value as of the morning hours. A 29.10 breakout occurred and a retest was given. In the continuation of the rise, an increase of up to $30.73 may occur. In pullbacks, 29 and 28.70 appear to be strong supports.
