Spot Bitcoin ETFs Gain Inflow for Eighth Day
Spot Bitcoin ETFs in the US closed the eighth consecutive day with net inflows totaling $202.51 million on Monday. BlackRock’s IBIT fund led the way with $224.06 million, recording its highest daily inflow since July. In contrast, Bitwise’s BITB and Fidelity’s FBTC funds recorded outflows of $16.61 million and $8.33 million, respectively. The total trading volume of Bitcoin funds fell to $1.2 billion, returning to normal levels, while total net inflows since the beginning of the year reached $18.08 billion.
PayPal’s Stablecoin PYUSD Reaches $1 Billion Market Cap
PayPal USD (PYUSD), PayPal’s stablecoin backed by the US dollar, has surpassed a market cap of $1 billion. Launched in 2023 and issued by Paxos Trust Company, PYUSD is designed as an Ethereum-compatible ERC-20 token to facilitate digital transactions. Competing with other stablecoins like USD Coin (USDC), PYUSD has been integrated into various platforms to expand its accessibility. Despite its growth, PYUSD still lags behind major stablecoins like Tether (USDT) and USDC in terms of market cap.
Bitcoin Leads with $543 Million Inflows After Powell’s Jackson Hole Comments
Following dovish comments from Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium regarding the possibility of a rate cut, Bitcoin attracted $543 million in inflows, the largest weekly inflow in digital asset investment products in more than a month. While Bitcoin saw large inflows, Ethereum showed the opposite movement, with an outflow of $36 million.
Shiba Inu Plans to Build Community-Driven DAO
Shiba Inu has announced plans to establish a decentralized autonomous organization (DAO) in an effort to give its community more control over governance and expand the cryptocurrency’s real-world applications. The DAO will introduce new governance structures, such as the Charity Council and the Culture & Heritage Council, to manage community resources and protect the project’s unique assets. This move represents Shiba Inu’s transformation from an experimental token to a major player in the decentralized finance (DeFi) space. The introduction of the DAO is expected to strengthen Shiba Inu’s position and influence in the market.
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BITCOIN (BTC)
BTC is priced at $63,052 with a 0.34% increase in value as of the morning hours. An increase of up to $65,000 was achieved but could not be sustained. $62,700 seems to have worked as a strong support. The $65,200 region also appears as a strong resistance. In prices above $65,000, we may encounter increases of up to $67,500.
ETHEREUM (ETH)
ETH is priced at $2693 with a 0.48% increase in value as of the morning hours. An increase from $2570 to $2820 was achieved. Permanence could not be achieved at this level. The $2670 region has held the price as support for now. If a breakdown occurs below the $2500 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 $0.593 with a 0.90% increase in value as of the morning hours. Persistence above $0.60 will be quite positive. XRP rose to $0.65 due to the news, but permanence was not achieved. In pullbacks, a pullback to $0.58 may occur. In prices above $0.60, increases to $0.70 may be seen.
AVALANCHE (AVAX)
AVAX is priced at $26.65 with a 2.78% increase in value as of the morning hours. Pricing above $26 is seen. $25 is a region that is likely to work as support. 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 after $24.
SOLANA (SOL)
SOL is priced at $159.3 with a 1.29% increase in value as of the morning hours. After the rise from $112 to $164, the pullback seems to have stopped. In case the pullback occurs again, $150 is a strong support. As for resistance, $164 seems strong for now.
OUNCE GOLD
As of the morning hours, ounce gold is priced at $2515.28 with a 0.10% 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 $29.68 with a 0.56% increase in value as of the morning hours. A break of 29.10 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.
