Spot Bitcoin ETFs Reach $10 Billion in Assets One Month After Approval
Spot Bitcoin ETFs reached $10 billion in assets within their first 20 days of trading. This shows the intense investor interest in spot Bitcoin ETFs. ETFs with the highest assets under management (AUM) are BlackRock’s IBIT ETF and Fidelity’s FBTC ETF. IBIT has total assets of $4 billion and FBTC has total assets of $3.4 billion.
Ark 21Shares Becomes the Third Bitcoin ETF to Reach $1 Billion After Big Entry Day
“This is not just a number, but a testament to the growing trust and interest in digital assets,” Ark Invest said in a Feb. 9 report, noting that the value of Bitcoin holdings in the ARKB ETF has surpassed $1 billion. said. Bloomberg ETF analyst James Seyffart also commented on the milestone, saying it indicates Ark had a big flow day on Friday.
Less than 10 Thousand Blocks Left for the Halving Event
There are less than 10 thousand blocks left until the halving event, which takes place every four years. According to the data, the halving event is expected to occur on April 19, 2024. After the halving, the mining reward will decrease from 6.25 BTC to 3,125 BTC.
Low Bitcoin Miner Income After Halving Will Be Supported by Ordinal Fees
Analysts state in their reports that although a price increase following the halving event is not guaranteed, it will pose a challenge for Bitcoin miners, who derive most of their income from block rewards. With block rewards decreasing and the network’s mining difficulty increasing, which reached an all-time high last year, miners may find themselves in a tense situation. The good news for miners is that transaction fees associated with Ordinal activities on the Bitcoin chain present a significant revenue opportunity. So far, miners have been paid more than $200 million in transaction fees related to Ordinals, and miners currently earn about 20% of their revenue from transactions related to ordinals.
Nigeria Urged to Regulate Cryptocurrency to Fight Financial Crimes
Preventing financial crimes, especially money laundering, said Adedeji Owonibi, co-founder of A&D Forensics, a Nigerian blockchain intelligence service provider, at a training for cryptocurrency compliance professionals hosted by a blockchain and digital forensics firm on Feb. 9. He said that the Nigerian government should regulate cryptocurrency activities. Owonibi noted that Nigeria’s lack of regulation in the crypto space has allowed various practices to remain unmonitored.
Chainlink Whales Increase Accumulation
Chainlink whales have been more concerned over the last few days, especially with the increase in aggression coming from a particular whale wallet. According to Lookonchain data, this whale wallet has been accumulating LINK steadily for the last three days. It has accumulated 4,556,684 tokens, which are currently worth approximately $83.6 million based on LINK’s current price. This continuous LINK accumulation is considered a positive indicator that the whale wallet is predicting a possible future increase in LINK price.
CEO and Chief Product Officer of Metaco, Ripple-Owned Crypto Custody Firm, Left
The CEO and chief product officer of cryptocurrency custody firm Metaco, which was acquired by Ripple in May 2023, has left the company. A Ripple spokesperson confirmed the departure of CEO Adrien Treccani and Chief Product Officer Peter DeMeo, saying: “We appreciate the strong and industry-leading custody business Adrien and his team have built, as well as his leadership in integrating the custody team and solution with Ripple following last year’s acquisition .
Ethereum NFT Volume Nears Yearly High
According to data from The Block, the volume of NFTs traded on Ethereum last week reached its highest level since late February of last year. The increase in Ethereum NFT volume came as the Bored Ape Yacht Club collection, a rival to the Pudgy Penguins in third place by market cap, approached its market cap. Pudgy Penguins is developing Pudgy World, an interactive gaming experience with Apple Vision Pro.
MicroStrategy’s Bitcoin Earnings Reached $3 Billion
MicroStrategy, the business intelligence firm founded by Michael Saylor, currently owns over $9 billion worth of Bitcoin. According to last week’s news, MicroStrategy reached 190,000 Bitcoins with the latest purchases. Considering Bitcoin’s current circulation is 19.6 million BTC, the company currently holds almost 1% of the circulating supply. It is known that the company has unrealized gains of over 3 billion dollars with the Bitcoin rally.
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BITCOIN(BTC)
In today’s morning hours, Bitcoin is trading at $48,175, down 0.25%. It priced up to $48,900 with an increase starting on Friday. $48,000 is a critical level, and as it continues to be priced above, increases up to $50,000 can be seen. In case of loss of $ 48,000, the retreat may deepen and a price of up to $ 46,500 may be seen. In case of a price below $46,000, $45,200 appears as the first support zone.
ETHEREUM(ETH)
Ethereum, which lost 0.33% in value as of the morning hours, is priced at $ 2500. With the rise starting on Friday, there was an increase up to 2540 dollars. Ethereum continues to decline after receiving rejection from this region. The first support zone is $2473. If it stays above this level, there may be an increase up to $2680. In case of a downward break of this level, the first support level appears to be $ 2400.
RIPPLE(XRP)
As of the morning hours, XRP is priced at $0.5216 with a 0.84% loss in value. It continues its downward movement after being rejected at $0.5350, which is the first intermediate resistance zone. The first support zone is the $0.5112 level. If there is an upward reaction from here, the $ 0.55 level can be seen again. If a downward break occurs, $0.50 appears as major support.
AVALANCHE(AVAX)
AVAX is priced at $38.79 with a 2.34% depreciation as of morning hours. After rising to $41, there is a retreat and pricing is below $40 again. The first support area at $37.50 appears to be a strong area. If it stays above this level, a rise to $44 can be seen. If the $ 37.50 level is lost, we may encounter withdrawals up to $ 34.
SOLANA(SOL)
SOL is priced at $105.9 with a 1.43% depreciation as of the morning hours. When we examine the four-hour chart, we see that the resistance zone was broken with the movement experienced over the weekend and there was an increase up to the $ 110 level. SOL, which could not maintain permanence in this region, is trading in the support region again with a withdrawal. If there is an upward reaction from this region, we can see a movement up to $ 110, and if this level is crossed, we can see a movement up to $ 115. If the withdrawal continues, the $ 100 level can be followed as support.
CHAINLINK(LINK)
As of the morning hours, LINK is priced at $20,020 with a 0.62% loss in value. When we examine the daily chart, we see that the upward movement continues with the horizontal movement breaking upwards and the 20 dollar level is reached. If this movement continues, the $20,600 level appears as resistance. If this area is broken upwards, a move towards the $21 level may be possible. In case of a withdrawal, the $19 level can be followed as support.
ENS
ENS is priced at $22.33 with a 4.39% gain in value as of the morning hours. When we examine the four-hour chart, we see that there is an upward movement towards the $23.50 resistance area. If this area is broken upwards and persists above it, there may be a rise towards the $25 level. In case of a withdrawal, the $21 level can be followed as support.
WLD
WLD is priced at $2,537 with a 3.13% gain in value as of the morning hours. When we examine the hourly chart, we see that there is horizontal movement between the $ 2.58 and $ 2.42 levels. If the resistance zone is broken, the $2.65 level could be tested. In case of a withdrawal, the $2.50 level can be followed as support.
