Spot Ethereum ETFs May Be Approved on July 4, According to Reuters Report
Discussions between asset managers and regulators have entered the final stages and the U.S. Securities and Exchange Commission (SEC) could approve spot Ethereum ETFs on July 4, industry executives and other participants told Reuters. Managers of the two companies, who did not want their names to be disclosed because the discussions were confidential, explained that the process of changing the documents was only progressing towards solving minor problems. Additionally, a lawyer working with one of the issuers who asked to remain anonymous said the final touches are being made and approval is probably no more than a week or two away.
Crypto Bill was Adopted in the General Assembly of the Turkish Grand National Assembly
The bill to amend the Capital Markets Law was accepted in the General Assembly of the Turkish Grand National Assembly. With this proposal, definitions regarding crypto assets are added to the Capital Markets Law. Accordingly, the concept of wallet is defined as software, hardware, systems or applications that enable the transfer of crypto assets and the storage of these assets or private and public keys related to these assets online or offline.
Partnership Between NEAR Protocol and Frax Finance
Frax Finance announced a strategic partnership with NEAR Protocol to enhance multi-chain capabilities and integrate decentralized artificial intelligence into the crypto ecosystem. This partnership aims to deliver innovative solutions across various blockchain networks, leveraging NEAR’s robust blockchain infrastructure and Frax Finance’s expertise in stablecoin and DeFi.
US Government Wallets Moved 3,940 Bitcoins to Coinbase
Wallets associated with the US government transferred 3,940 Bitcoins worth $241 million to Coinbase. This comes after the German government transferred 750 Bitcoins. The US government now owns 213,546 Bitcoins, worth more than $13 billion, making it one of the largest holders of Bitcoin in the world. The German government holds 46,359 Bitcoins. Since 2014, the US government has seized and sold at least 195,091 Bitcoins, earning more than $366 million from those sales. Bitcoins held by governments constitute 2.7% of the total Bitcoin supply.
Worldcoin Partners with Alchemy
Worldcoin partnered with web3 infrastructure platform Alchemy before launching the World Chain blockchain. This partnership will offer developers a comprehensive web3 platform. Tools for Humanity, founded by OpenAI CEO Sam Altman and Alex Blania, is developing Worldcoin, and nearly 6 million people have signed up for the project so far. The new World Chain blockchain, Optimism, will integrate with Coinbase and the Ethereum ecosystem and will launch this summer. Alchemy’s Noam Hurwitz stated that this partnership aims to attract more mainstream internet users to blockchain. World Chain will prioritize real people and offer priority blockchain and free gas to World ID holders.
Bitwise Predicts Ethereum ETFs to Raise $15 Billion in 18 Months
Bitwise predicts that Ethereum spot ETFs will attract over $15 billion in net inflows in the first 18 months following their entry into the US market. This is similar to the $14.4 billion inflow of Bitcoin ETFs in 5 months. Bitwise CIO Matt Hougan’s prediction is based on Bitcoin ETF data and market cap comparison. Hougan predicts that Bitcoin ETFs in the US will hold $100 billion by the end of 2025.
Bitcoin Whales Accumulate $436 Million Worth of BTC in One Day Amid Intense FUD
This week Bitcoin briefly dropped below $60,000, leading to significant buying by whales. Whales added 7,130 BTC to their savings in one day, purchasing approximately $436 million worth of Bitcoin. This increase marks the largest net inflow recorded since the end of May, despite general market uncertainty. Although concerns of further losses remain, indicators point to an imminent correction and potential local bottoms forming, supported by stable futures market conditions. Despite macroeconomic uncertainties impacting market sentiment, investors’ confidence in Bitcoin’s long-term tragedy appears strong.
State Street and Galaxy Digital Are Working on New Crypto ETFs
Asset manager State Street Global Advisors has teamed up with crypto investment firm Galaxy Digital to launch new ETFs sensitive to digital assets. In separate statements, the two investment firms hinted that these ETFs will go beyond spot Bitcoin ETFs. Institutional and retail interest in digital assets has increased since the launch of spot bitcoin ETFs. However, State Street said, “Investors are looking to consider investing options beyond spot Bitcoin in this growing asset class.” He made a statement.
Coinbase Says It Won’t Facilitate Ocean-Fetch AI Merger
Coinbase said in a statement on June 26 that it would not facilitate the transition of the two assets regarding the ASI token merger. Rather than switching on behalf of users for OCEAN and FET, the exchange plans to continue supporting trading for each asset until further notice. Additionally, Coinbase said the token merger will support all major software wallets.
$470 Million Unlocking in Ripple
1 billion XRP will be unlocked on July 1. The value of these tokens is approximately 470 million dollars. Historically, Ripple has been unlocking 1 billion tokens on the first day of every month since 2017, and the situation will continue in 2025.
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BITCOIN (BTC)
BTC is priced at $60,930 with a 0.12% gain in value as of the morning hours. There was a drop to $ 58,500, but it could not be sustained. The horizontal band has been re-entered. $62,500 appears to be the first resistance level. Closings above this level are required to continue the rise. In case the retreat continues, $58,000 appears as the first support.
ETHEREUM (ETH)
ETH is priced at $3371 with a 0.01% loss in value as of the morning hours. $3148 seems to be the major support. After the drop to $3241, permanence could not be achieved and the upward movement partially started. For the continuation of the rise, stability above $ 3500 must be maintained. If stability above $3500 is achieved, an increase may occur up to $3750. In the continuation of the retreat, $ 3000 seems to be the strongest support.
RIPPLE (XRP)
XRP is priced at $0.4679 with a 0.45% loss of value as of the morning hours. There is a horizontal channel between $0.46 and $0.57. There was a wick movement to the $0.45 level, but it could not be permanent. $0.50 is a critical level and this level must be regained. Initial support again appears to be the range between $0.48 and $0.45. Areas where there may be resistance include the $0.50 and $0.52 levels.
AVALANCHE (AVAX)
AVAX is priced at $25.65 with a 0.70% loss of value as of the morning hours. After the horizontal area is broken down, the decline continues. In case of withdrawals, the 22 and 20 dollar areas can be followed as support. $25.30 seems to hold the price for now. For the rise to continue, the $30 zone must be broken and persistence must be achieved. If $ 30 is exceeded, there may be a rise again up to $ 40. If the retreat continues, $20 is a region that is likely to act as major support.
SOLANA (SOL)
SOL is priced at $136.44 with a 0.26% loss of value as of the morning hours. When we examine the daily chart, we see that the $140 level, which we follow as the resistance zone, was tested, but it could not be maintained above this zone. This region appears as an important resistance zone in upward movements. In case of withdrawals, the $ 130 level can be followed as support.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 13,760 with a 1.10% loss in value. When we examine the four-hour chart, we see that there is a downward reaction movement at the $ 14,300 level, which we follow as the resistance zone. If this movement continues, the $ 13,500 level and the $ 13 zone below can be followed as support. In upward movements, it is necessary to maintain permanence above the $ 14,300 level.
MKR
As of the morning hours, MKR is priced at 2532 dollars with a 3.18% gain in value. When we examine the four-hour chart, we see that there is an upward breakout movement. If this movement continues and persists above the $2500 level, a move towards the $2650 region may be possible. In downward movements, the $2490 region appears as support.
MATIC
MATIC is priced at $0.5457 with a 1.12% loss in value as of the morning hours. When we examine the four-hour chart, we see that the descending movement has broken downwards. If this movement continues downwards and remains below the $0.55 level, a continuation of the decline may be possible. In upward movements, the $0.55 region appears as an important resistance level.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2299 dollars with a 0.04% gain in value. There was a decline from $2390 to $2290. The $2290 level is acting as support. If it persists above $2300, there may be a rise again. If $2280 is lost, the $2268 area appears as the first support.
OUNCE OF SILVER
As of the morning hours, silver is priced at $28.76 with a 0.03% loss in value. When we examine the four-hour chart, we see that the $28.70 level, which we follow as the support zone, was tested and there was some reaction movement from this zone. If this movement continues upwards, the $29 level is followed as an important resistance. If the resistance zone is crossed, the $ 29.50 level can be tested.
