Europe’s First Spot Bitcoin ETF Launched
London-based Jacobi Asset Management launched the first spot Bitcoin ETF in the European region under the name BCOIN. The ETF will track the Melanion Bitcoin Exposure Index, an index of European and American crypto company stocks. The ETF was launched on Euronext Amsterdam.
Fitch Warns US Banks of Rating Downgrades
A Fitch Ratings analyst, Chris Wolfe, warned that the US banking industry could enter new turbulence. Following Fitch’s negative assessment of the health of the sector, which has not received much attention, giant banks such as JPMorgan Chase in the US could also face a downgrade.
Stellar Invests in MoneyGram
The Stellar Development Association announced on Tuesday that they have made a strategic investment in money transfer company MoneyGram. The move follows MoneyGram’s commercial partnership with SDF two years ago to facilitate crypto payments and launch a cash-to-crypto service.
Google Artificial Intelligence Chooses Solana
Finbold’s research asked Google Bard, Google’s artificial intelligence technology, to compare and choose between Solana and Cardano. In the comparison, important topics such as transaction speed, cost, scalability and decentralization between Layer-1 protocols were included. Google Bard said that Solana is ahead of Cardano in terms of development activity and community, due to Solana’s higher transaction speed and lower fees, which makes Cardano more robust and reliable. However, Google has favored Bard Solana, saying it could potentially be one of the key blockchain platforms.
PayPal Freezes Crypto Trading Services in the UK for a While
Following its initiatives in the US, PayPal announced in an email to its users in the UK that it will temporarily freeze crypto trading services in the UK in the coming months. The email said that services will be frozen as of October 1 and will be reopened at an unspecified date in early 2024.
BITCOIN(BTC)
Bitcoin is priced at $ 29,169 with a 0.14% loss in value as of today morning hours. Bitcoin continues its negative pricing on low volume. Yesterday, while pricing in the 29,400 region, we see that selling pressure started in the evening hours and the price fell to the 29,100 region. We can say that the negative news coming from the banking side in the US can provide a positive movement for crypto assets and at the same time, the outcome of the SEC-Grayscale case on Friday will be important. We can say that the support level we will use in Bitcoin, which retreated yesterday with the selling pressure in all risky assets, should be 28,800, and if it breaks, we can say that the lower 28,400 region can be considered as a stop.
ETHEREUM (ETH)
ETH, which lost 0.29% as of morning hours, is priced at $ 1823. We see that weak pricing continues in Ethereum and the decline continues after the 1840 breakout and retreats to the support zone. We can say that the range of 1815-1820 in Ethereum will be critical in terms of pricing. If the 1815 region is broken, we think that the price action may retreat to the 1780 region.
