Spot Ethereum ETFs Approved – Nine Consecutive Days of Inflows in Spot Bitcoin ETFs

Spot Ethereum ETFs Approved

According to the statement made by the SEC yesterday, spot Ethereum ETF applications were approved. A total of eight ETFs have been approved, and the owners of the ETFs are VanEck, Fidelity, Franklin Templeton, Grayscale, Ark Invest/21Shares, Invesco/Galaxy and BlackRock. Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, predicts inflows of $15 billion to $45 billion in the first 12 months.

Nine Consecutive Days of Inflows in Spot Bitcoin ETFs

When we examine the data, we see that spot Bitcoin ETFs experienced inflows for nine consecutive days. On Thursday, a total inflow of 107 million dollars was made. This series is considered the strongest performance for spot Bitcoin ETFs since March, with 10 consecutive daily inflows occurring in that period.

API3 Reached 1 Billion Dollar TVS Value

API3, a decentralized blockchain solution for APIs, announced that it has surpassed $1 billion in total value secured (TVS). The platform has experienced rapid growth, with TVS value increasing tenfold within 100 days. This growth demonstrates the increasing adoption rate and trust in the ecosystem.

Hong Kong Considering Allowing Staking for Ethereum ETFs

It is known that Hong Kong’s Securities and Futures Commission (SFC) is planning to allow Ethereum ETFs under its jurisdiction to stake their tokens. This development is different from the spot Ethereum ETFs that will start trading in the USA. Staking involves participants locking up digital assets to support network security and operations and earn rewards in return.

Phantom Introduces Sonic Foundation

The Fantom Foundation, the organization behind the Fantom decentralized network, recently announced the creation of a new foundation to facilitate the launch of the upcoming Sonic chain. On May 23, Fantom Foundation CEO Michael Kong announced the new foundation on the Fantom blockchain network’s blog. Fantom’s Sonic Foundation will be tasked with overseeing Sonic’s governance, managing the network treasury, orchestrating partnerships, and developing the DApp ecosystem.

TRON Network Exceeds 231 Million Accounts

TRON, a leading blockchain platform, has reached a major milestone by surpassing 231 million total accounts. This development brought about a huge explosion in transaction fees. TRON’s daily transaction count reached 5.5 million, which equates to a daily fee of $4.4 million. This increase in activity highlights TRON’s growing user base and expanding role in the DeFi space.

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BITCOIN (BTC)

BTC is priced at $67,540 with a 0.64% loss of value as of the morning hours. When we examine the daily chart, the resistance zone of $ 72 thousand was tested with the strong price movement seen at the beginning of the week. We see that the selling pressure in this region has continued for the last four days and there is a movement towards the support zone of $67,300. In case of an upward reaction from this support area, the 68 thousand dollar area can be followed as short-term resistance.

ETHEREUM (ETH)

ETH is priced at $3798 with a 0.40% gain in value as of the morning hours. When we examined the daily chart, we saw high volatility yesterday with the approval of spot ETH ETF applications. With this move, the 3500 level was tested at the bottom and a strong reaction occurred. In upward movements, it is important to ensure persistence above the $3800 region first and then the $3830 level, which is the resistance zone. If these two regions are passed, the $ 3900 region can be tested. In case of withdrawals, the $ 3720 region can be followed as support.

RIPPLE (XRP)

As of the morning hours, XRP is priced at $0.5270 with a 0.23% loss in value. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.48 level, but it could not be sustained. $0.50 is a critical level and this level has been regained. The first support again appears to be the range between $0.50 and $0.51. Areas where there may be resistance include the $0.55 and $0.58 levels.

AVALANCHE (AVAX)

AVAX is priced at $38.13 with a 0.96% loss of value as of the morning hours. After the horizontal area broke up, we saw a movement up to the $42 level, but it could not be sustained above this area. In case of withdrawals, the 37.50 and 37 dollar areas can be followed as support. In upward movements, if there is persistence above the $40 level, the $45 region can be targeted.

SOLANA (SOL)

SOL is priced at $167.28 with a 5.06% depreciation as of morning hours. When we examined the four-hour chart, there was a strong price movement with a downward break of the $ 175 level, which we follow as the support zone. If this downward movement continues, the $165 region appears as support. In upward movements, the $170 level can be followed as resistance.

CHAINLINK (LINK)

As of the morning hours, LINK is priced at $17,356 with a 4.56% gain in value. When we examine the hourly chart, we see that there is a strong price movement at the $16 level, which we follow as the support zone. If this movement continues and persists above the $17,500 level, the $18 region can be targeted. In case of withdrawals, the $17 zone can be followed as support.

BLUR

BLUR is priced at $0.4547 with a 7.40% gain in value as of the morning hours. When we examine the four-hour chart, we see that the consolidation zone has been broken upwards. If this movement continues, the $0.48 region may be tested. In case of withdrawals, the $0.44 region can be followed as support.

APE

APE is priced at $1,307 with a 3.24% gain in value as of the morning hours. When we examine the four-hour chart, we see a horizontal movement between the $1.10 and $1.33 levels. These two levels can be followed as main support and resistance zones. If the resistance zone is broken in upward movements, the $ 1.44 level can be tested. The $1.25 level can be followed as a short-term support zone.

OUNCE OF GOLD

As of the morning hours, ounce gold is priced at 2335 dollars with a 0.31% gain in value. When we examine the four-hour chart, we see that the $2400 level has been broken strongly downwards. We see that it has received a reaction from the $2300 level, which we currently follow as a support zone. If this movement continues, the $2350 level can be followed as resistance.

OUNCE OF SILVER

As of the morning hours, silver is priced at $ 30.48 with a 1.20% gain in value. When we examine the hourly chart, we see that the horizontal movement between the $31.20 and $32.40 levels has broken downwards. With a reaction movement, we see a movement towards the $ 31 level again. In case of withdrawals, the $ 30.20 level can be followed as support.

What is Airdrop?

Airdrop, one of the rapidly growing and interesting applications of the cryptocurrency world, means distributing free crypto money to users.

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