Spot Ethereum ETFs Receive Final Approval
Many spot Ethereum ETFs can begin trading upon approval from the U.S. Securities and Exchange Commission. Approved ETFs come from 21Shares, Bitwise, BlackRock, Fidelity and other firms. This approval is a significant milestone that demonstrates the growing acceptance of the crypto asset class. While Ethereum ETFs are expected to attract less demand than Bitcoin ETFs, experts predict they could still attract significant investments. Future inclusion of staking and options in these ETFs may require new approvals from the SEC.
High Entry into Digital Asset Funds
When we examine the digital asset funds report, we see that there was an inflow of 1.35 billion dollars last week. Thus, the total inflow amount in the last three weeks reached 3.2 billion dollars. The highest entry was in Bitcoin with $1.35 billion. On the Ethereum side, there was an inflow of 45 million dollars, thus surpassing Solana in the total inflow amount since the beginning of the year. In addition, there was an outflow of $1.9 million in short Bitcoin.
Hong Kong to Launch Asia’s First Inverse Bitcoin ETF
Asia’s first inverse Bitcoin ETF, which allows investors to make money by taking advantage of the decline, will launch in Hong Kong on Tuesday. Hong Kong-based CSOP Asset Management announced that it will launch the CSOP Bitcoin Futures Daily (-1x) Inverse product on Tuesday morning. “The first futures-based inverse Bitcoin product to be listed in Hong Kong creates opportunities for investors to profit from downward movements in Bitcoin,” Ding Chen, CEO of CSOP Asset Management, said in a statement. said.
Ondo Finance’s USDY Launched in Cosmos Ecosystem
The Noble blockchain and Ondo Finance teams launched the Ondo US Dollar Yield (USDY) on Cosmos, introducing the first native yield-generating dollar stablecoin in its ecosystem. This move brings USDY, a stablecoin product and tokenized promissory note secured by short-term US Treasuries and US bank current deposits, native to over 90 application-specific Cosmos blockchains. While USDY will be available through the Noble blockchain, many other Cosmos chains and DeFi projects, such as Injective, Osmosis, Kujira, and Pyth, will leverage USDY.
Highest Inflow in BlackRock’s IBIT Fund Since March
IBIT, BlackRock’s spot Bitcoin ETF, made the highest inflow in the last four months with an inflow of over $523 million yesterday. According to the data, only 7759 BTC inflow occurred in the IBIT fund yesterday. Thus, IBIT’s assets surpassed the 300 thousand BTC level. Additionally, yesterday’s inflow is the seventh highest inflow ever for IBIT.
Superstate Launches New Fund for Bitcoin and Ethereum
Superstate, a crypto firm specializing in tokenizing traditional financial services, has created its new Crypto Carry Fund, which allows wealthy investors to hedge spreads on the spot and futures market in the form of the Ethereum ERC-20 token. The new Crypto Carry fund will primarily invest in both Bitcoin and Ethereum arbitrage opportunities, but when the spread is not an issue it will invest investors’ money in treasury bills and other safe investments instead. Unlike hedge funds, returns will be presented daily.
Bitcoin Miner HIVE Digital to Build 100 Megawatt Crypto Mining Facility in Paraguay
HIVE Digital Technologies has announced plans to build a new 100-megawatt crypto mining facility in Paraguay. This expansion will add 6.5 Exahash seconds (EH/s) to HIVE’s Bitcoin mining operations, increasing global EH/s capacity to 12.1 EH/s. As of July 21, HIVE’s Bitcoin holdings reached 2,521 BTC, making it worth over $171 million. The company reported an 8% increase in annual revenue to $114.5 million, while digital currency mining revenue was $111 million. Shares of HIVE (HIVE) were trading at $4.49, up around 8%.
Profit Ratio of Bitcoin Addresses
The increase in profitable Bitcoin addresses shows that the market is still in a bull cycle. 93% of BTC addresses are currently in profit. Bitcoin is up nearly 20% since July 12, reaching the $67,000 level and hitting a six-week high of $68,400. Bitcoin demand is surging, with addresses holding 1,000 or more BTC reaching a two-year high and large inflows into US spot Bitcoin ETFs. Retail trading is also contributing to market momentum, especially on weekends, but analysts note that the market is still open to corrections as it is in a news-driven environment.
WazirX Increases Post-Hack White Hat Recovery Reward to $23 Million
WazirX has offered a $23 million reward seeking information to identify and prosecute hackers following a massive hacking attack last week. The reward, which was initially 5%, was increased to 10% upon feedback from blockchain researcher ZachXBT. The exchange called for global participation from white hat hackers, cybersecurity experts and blockchain analysts to recover the stolen funds. Nischal Shetty, founder of WazirX, explained that the attack was not a phishing attack and contained many signatures from different devices and locations. WazirX has submitted reports to the Financial Intelligence Unit and CERT-In, contacted more than 500 exchanges to block the identified addresses, and is conducting a comprehensive security review and forensic audit to resolve the issue.
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BITCOIN (BTC)
BTC is priced at $66,420 with a 1.68% loss of value as of the morning hours. With the horizontal band breaking upward again, the middle band level of $65,000 was also broken upward. In the continuation of the upward movement, $ 72,000 appears as the first resistance. When this level breaks up, a new ATH level can be seen. If $65,000 does not act as support, a decline to $59,000 may be seen.
ETHEREUM (ETH)
ETH is priced at $3434 with a 0.16% loss of value as of the morning hours. We see a horizontal movement between the $2860 and $4030 levels. These two levels can be followed as main support and resistance zones. The intermediate resistance zone is the $3700 level. If the resistance zones are crossed in upward movements, the $ 4000 level can be followed. $3400 serves as an important support.
RIPPLE (XRP)
As of the morning hours, XRP is priced at $0.5983 with a 1.63% loss in value. When we examined the daily chart, we saw that XRP faced a strong downward selling pressure from the $ 0.64 level, which we followed as a resistance zone after the strong movement in the past few days. With this move, XRP broke the $0.56 level, which we followed as the support zone, and gained this zone again. In upward movements, the $0.60 – $0.65 region appears as an important resistance zone.
AVALANCHE (AVAX)
AVAX is priced at $30.77 with a 3.20% loss in value as of the morning hours. When we examine the four-hour chart, we see that it has now returned to the old resistance of $30 as support. The rise may continue at prices above $30. In case of a drop below $30, $27 appears as the next strong support.
SOLANA (SOL)
SOL is priced at $174.40 with a 2.50% depreciation as of the morning hours. When we examine the hourly chart, we see that the descending triangle formation was broken downward after the strong upward movement. If this movement continues, the $170 region, which we follow as the support zone, may be tested. In upward movements, the $177 level appears as a resistance zone.
CHAINLINK (LINK)
As of the morning hours, LINK is priced at $ 13.73, with a 1.44% loss in value. When we examine the four-hour chart, we see that the $14 level, which we follow as the resistance zone, has been broken upwards and the $15 level is being tested. There is some selling pressure from this region. If the retreat continues, the $13.50 and $13 levels can be followed as support.
ENS
ENS is priced at $26.96 with a 5.06% gain in value as of the morning hours. When we examine the four-hour chart, we see a horizontal movement between the $25 and $28.65 levels. These two levels can be followed as main support and resistance zones. If the resistance zone is broken in upward movements, the $ 30 level can be tested. In case of withdrawals, the $26 level can be followed as a short-term support zone.
OUNCE OF GOLD
As of the morning hours, ounce gold is priced at 2392 dollars with a 0.18% loss in value. When we examine the daily chart, we see that after the horizontal movement broke upwards, it returned to the horizontal region with a retreat movement and the breakout movement was invalid. The $2400 region was broken as support. Retreats up to $2375 may be seen.
OUNCE OF SILVER
As of the morning hours, silver is priced at $28.94 with a 0.62% loss in value. When we examine the four-hour chart, we see that the downward movement accelerated with the downward break of the $ 29.50 level, which we follow as the support zone. If this movement continues, the $28.80 and $28.50 levels appear as important support areas.
